MIRA
INFORM REPORT
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Report Date : |
16.11.2007 |
IDENTIFICATION DETAILS
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Name : |
ABS INDIA PRIVATE LIMITED |
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Formerly Known As : |
ALCATEL BUSINESS SYSTEMS (INDIA) PRIVATE LIMITED |
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Registered Office : |
# 49, 100 Feet Road, Koramangala IV Block, Bangalore – 560034,
Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
01.12. 1995 |
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Com. Reg. No.: |
08-19296 |
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CIN
No.: [Company
Identification No.] |
U31909KA1995PLC019296 |
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TAN No.: (Tax Deduction & Collection Account No.) |
BLRA03906A |
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PAN No.: (Permanent Account No.) |
AABCA8841P |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Importers, Exporters and Traders of all types of EPABX systems,
spares call- center / voip products and Communication systems etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1064000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having
satisfactory track. Directors are reported as experienced and respectable
businessmen. Trade relations are fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for
business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office/ Head Office: |
# 49, 100 Feet Road, Koramangala IV Block, Bangalore – 560034,
Karnataka, India |
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Tel. No.: |
91-80-25536114/ 6159/ 1665 |
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Fax No.: |
91-80-25536338 |
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Email : |
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Website : |
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Area : |
6000 Sq. ft |
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Location : |
Rented |
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Corporate
Office : |
49, 100 Feet Road, Koramangala IV
Block, Bangalore - 560 034 |
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Tel.
No.: |
91 80
2553 6114 |
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Fax
No.: |
91 80
2553 6338 |
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E-Mail
: |
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Branches : |
Bangalore Mumbai Delhi Delhi Chennai Hyderabad |
DIRECTORS
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Name : |
Mr. Visvanathan Pradeep |
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Designation : |
Chairman- Cum -Managing Director |
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Address : |
3495, 16th Main, HAL 2 Stage, Bangalore – 560038,
Karnataka, India |
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Date of
Birth/Age : |
15.03.1960
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Qualification
: |
B. E. |
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Experience
: |
22 Years |
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Date of Appointment : |
20.05.2002 |
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Last Employment : |
BPL Systems and Projects Limited |
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Name : |
Mr. Sunil Arora |
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Designation : |
Director – Marketing |
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Address : |
Vars Ville, Flat C 1, Part 2, 13th Main, HAL 2 Stage,
Bangalore – 560034, Karnataka, India. |
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Date
of Birth/Age : |
19.07.1965
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Qualification
: |
B. E. |
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Experience
: |
18 Years |
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Date of Appointment : |
23.05.2002 |
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Last Employment : |
HCL Limited |
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Name : |
Mr. Parswa Nath |
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Designation : |
Wholetime Director |
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Address : |
815 – C, 17F., 1st Main, V Block, Koramangala,
Bangalore 560034 |
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Date
of Birth/Age : |
26.07.1959
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Qualification
: |
M. Com |
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Experience
: |
23 years |
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Date of Appointment : |
23.05.2002 |
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Last Employment : |
TNT Express Worldwide Limited |
KEY EXECUTIVES
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Name : |
Mr.
Prabhakar Ananthanarayanan Sundareswaran |
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Designation
: |
Company Secretary
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Address
: |
B2,
Shraddha Heights, S G Palaya, C V Raman Nagar, Bangalore – 560 093,
Karnataka, India |
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Date
of Birth/Age : |
07.11.1969 |
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Date
of Appointment : |
01.07.2003 |
MAJOR
SHAREHOLDERS
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Names of
Shareholders |
No. of Shares |
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P S P Business Systems Private Limited |
14841350 |
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Nominees of PSP |
10 |
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Names of
Shareholders |
% of Holdings |
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Bodies Corporates |
100.00 |
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Total |
100.00 |
BUSINESS
DETAILS
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Line of Business : |
Importers, Exporters and Traders of all types of EPABX systems,
spares call- center / voip products
and Communication systems etc. |
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Products : |
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Export To : |
Asian Markets |
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Imports from : |
Europe & Far East |
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Terms : |
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Selling : |
L/C, Credit (15-60 days), Contract and Deferred Payment Terms |
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Purchasing : |
60 day Credit / 30 Days Credit |
GENERAL
INFORMATION
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Suppliers : |
Alcatel Group, Worldwide |
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No. of Employees : |
Total 120 [Technical 80 + Others 40] |
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Bankers : |
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Facilities : |
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Banking Relations : |
Unknown |
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Auditors : |
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Name : |
S. R. Batliboi and Associates Chartered Accountants |
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Address: |
Divyasree Chambers, A Wing 2nd Floor, Langford Road,
Banglore-560025, India |
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Tel. No.: |
91-80-22245646/51146600 |
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Fax No.: |
91-80-22240695/51146677 |
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Associates : |
Alcatel Business Systems, France |
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Subsidiary : |
ABS Singapore Pte Limited |
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Holding Company : |
PSP Business Systems Private Limited |
CAPITAL
STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
14841360 |
Equity Shares |
Rs.10/- each |
Rs. 148.413 millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF
FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
148.413 |
148.413 |
148.413 |
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2] Reserves & Surplus |
117.561 |
87.822 |
74.447 |
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NETWORTH
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265.974 |
236.235 |
222.860 |
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LOAN FUNDS |
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1] Secured Loans |
12.733 |
25.107 |
25.433 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING
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12.733 |
25.107 |
25.433 |
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TOTAL
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278.707 |
261.342 |
248.293 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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12.880 |
14.191 |
10.214 |
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Capital work-in-progress
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0.000 |
0.000 |
0.000 |
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INVESTMENT
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190.182 |
153.076 |
140.259 |
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DEFERREX TAX ASSETS
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6.749 |
3.289 |
2.340 |
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
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15.167
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16.124
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19.564
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Sundry Debtors
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117.182
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94.171
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73.823
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Cash & Bank Balances
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25.495
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39.383
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41.562
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Loans & Advances
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16.453
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14.848
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35.057
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Total Current Assets
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174.297
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164.526
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170.006 |
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Less : CURRENT LIABILITIES &
PROVISIONS
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Current Liabilities
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93.235
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63.601
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62.516
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Provisions
|
12.166
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10.139
|
12.010
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Total Current Liabilities
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105.401
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73.740
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74.526 |
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Net Current Assets
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68.896
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90.786
|
95.480 |
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TOTAL
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278.707 |
261.342 |
248.293 |
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PROFIT &
LOSS ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
Sales Turnover [including other income]
|
454.790 |
332.868 |
350.549 |
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Profit/(Loss) Before Tax
|
85.440 |
47.075 |
62.476 |
Provision for Taxation
|
21.850 |
16.919 |
19.418 |
Profit/(Loss) After Tax
|
63.590 |
30.156 |
43.058 |
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Export Value
|
0.227 |
1.436 |
8.335 |
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Import Value
|
138.454 |
99.587 |
122.314 |
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Total Expenditure
|
365.250 |
285.793 |
288.073 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
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(%)
|
13.98 |
9.06
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12.28 |
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Net Profit Margin
(PBT/Sales) |
(%) |
18.78 |
14.14
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17.82 |
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Return on Total Assets
(PBT/Total Assets} |
(%) |
22.24 |
26.34
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34.67 |
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Return on Investment (ROI)
(PBT/Networth) |
|
0.32 |
0.20
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0.28 |
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Debt Equity Ratio
(Total Liability/Networth) |
|
1.44 |
0.42
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0.45 |
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Current Ratio
(Current Asset/Current Liability) |
|
1.65 |
2.23
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2.28 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets :
☻
Furniture and Fittings
☻
Office and Other equipments
☻
Vehicles
Operations and Outlook
During the year under review, the company continued
its operations in the sales support of EPABX systems. Multi Services Switches,
Voice and Data Multiplexes, Digital Subscriber Line Equipments and Network
Management Systems and Spares. The demand for these products continued to be
stable. The overall performance for the year under review can be considered as
satisfactory taking into account the competitions for the company’s products
and the general economy.
Baring unforeseen circumstances, the company’s
performance during the current year is expected to be very encouraging.
History
Subject was incorporated in 1st
December 1995 at Bangalore in Karnataka under the name of Style of Alcatel
Business Systems (India) Private Limited having Company Registration No. 08/
19296 and become public limited from 15th
January 1997. It was reconverted to private limited w.e.f 23rd May
2002.
Name changed to present (ABS India Private Limited) from 4th
December 2002.
The subject was incorporated as a joint venture
between Alcatel Business System, France (ABSF) & United Telecom Limited
(UTL) with equity participation of 51:49, with technical know-how of ABSF
ABSF required the 49 % holding of UTL and making
100% subsidiary of ABSF.
The company commenced manufacturing in 1996, but
suspended the activities due to unfavourable market conditions.
After liberalisation of import policy, company
started importing EPABX to cater the domestic market requirements.
ABSF involves in restructuring its global
operations, pending which manufacturing operations continue to be suspended in
India
The company became deemed public limited
liability company limited w. e. f. 15th January 1997 and converted
into Private Limited Company w. e. f. 23rd May 2002
During 2001-02, the ABSF transferred the equity
to the residents shareholders with the approval from the requisite statutory
authorities.
Subsequent to the transfer of shares the name of
the company was changed as present name w. e. f. 5th December 2002.
Subject also engaged in the indenting agency
business for Alcatel business systems, France.
Subject has no manufacture, collaboration of
agency held.
Subject also had manufacturing activity as
well from 1996; but due to poor market
conditions, the manufacturing activity was suspended during about 1998-99
It is in trade
terms with :-
Ż Alcatel Business
Systems, France
Ż Alcatel Business Systems
Networks, U.K.
Ż Alcatel Internationals
AG
Ż Alcatel Internationals
(R & D)
Ż Alcatel India Limited
Ż Alcatel Vacuum
Technology
AS PER WEBSITE
Long-term success in the
competitive communication industry takes the talent and dedication of many
people, and at ABS India they have the best in the industry. It also takes the
leadership of a visionary and experienced management team. With more than 500
man-years of combined experience in the communication domain, ABS India's
management team is eminently qualified.
Its laders know what it
takes to develop quality products and dependable business relationships
required by enterprises. Years of pioneering experience has given ABS India's
management team a comprehensive technology vision as well as an end-to-end
understanding of the strategic business needs of its customers. Like all ABS
India employees, ABS India's leaders consider themselves an integral part of
each customer's long-term success.
Mr.
V Pradeep - Chairman & Managing Director, ABS India Private Limited
Personal Profile
Visvanathan
Pradeep has a Bachelors Degree in Electronics & Telecommunication
Engineering. He has over 23 years of experience in the Telecom Enterprise
Business Segment.
Professional Career
Visvanathan Pradeep is the Chairman & Managing Director
of ABS India. He heads a 120 member team spread across 5 cities with Regional
offices in Delhi, Mumbai, Chennai, Hyderabad & Bangalore.
Prior to this assignment he was the Chief Operating Officer & Director
Indian Subcontinent of Alcatel Business System India, which was a 100%
subsidiary of Alcatel France. He has been associated with Alcatel’s Enterprise
division in India from its inception and was the Country Manager responsible
for building the Sales, Marketing & Service Network in the South Asia
Region for the Alcatel’s Enterprise Solutions.
Mr.
Sunil Arora - Director – Sales & Marketing, ABS India Private Limited
Personal Profile
Sunil Arora is an Electronics
& Communications Engineer from Birla Institute of Technology, Mesra,
Ranchi. Has rich experience in Sales, Marketing & Management.
Professional Career
He has been in Telecom industry for over 17 years. He
carries rich & vast experience in Enterprise Business segment.
Mr. Sunil Arora is Director – Sales & Marketing ABS India Private Limited,
responsible for Enterprise Business for Indian sub-continent, which includes
Sri Lanka, Bangladesh, Maldives, Nepal & Bhutan. Before becoming Director –
Sales & Marketing, ABSI India Private Limited, Mr. Arora held key positions
in organisations like Alcatel Business Systems India Private Limited & HCL
Limited.
His last assignment was as Country Sales Manager for Alcatel Business Systems India
Private. Limited., where his contribution to the business growth was widely
recognized and appreciated. He was also awarded “Performance of the Year Award
in 1999” for his outstanding contribution for the growth of Alcatel Enterprise
business in the Asia Pacific Region.
Prior to Alcatel, he spent almost 9 years with HCL Limited in various
capacities in different parts of India. He won numerous performance recognition
awards during his career with HCL for his outstanding achievements and
excellence shown in the various assignments handled.
Parswanath
- Director – Finance, ABS India Private Limited
Personal Profile
Parswanath born in 1959 has done masters in commerce. Has vast experience of over
20 years, worked in various Capacities in Corporate Finance, Accounting,
Treasury Management, Taxation, Legal, supply chain management and HR functions.
Professional Career
Parswanath is the Director - Finance in ABS India. Presently he is responsible
for Corporate Finance, Accounting, Treasury Management, Taxation and Legal
activities of the Company.
Prior to joining ABS India Board, Parswanath had worked in Alcatel Business
System India between 1996 – 2002 in the capacity of Financial Controller -
India and Indian subcontinent. In Alcatel he was responsible for Corporate
Finance, Accounting, Treasury Management, Taxation, Supply chain
management, Legal and HR activities.
Customers
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Aviation |
Manufacturing |
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Banking & FIs |
Media & Entertainment |
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Call Center |
Oil, Gas & Energy |
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End - To - End Solutions |
Software |
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Government & Defense |
Service Providers |
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Hotels & Hospitality |
Shipping & Logistics |
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Archives
» ABS India pact with Alcatel
» ABS India ties-up with Alcatel to widen its solutions
portfolio
» Top
Dogs buy out Alcatel's Indian arm
ABS India pact with Alcatel
Deccan Herald, 4 July 2003
ABS India, leading enterprise communication solution provide
has signed a agreement with Alcatel India for marketing Alcatel’s latest
state-o- the-art Wide Area Networks(WAN) range of solutions in the Indian
sub-continent. WAN portfolio from Alcatel would compliment ABS India’s current
enterprise product portfolio, a company statement said. With this agreement,
ABS India would be providing solutions to enterprise with multi service
switches, voice and data multiplexers, XDXL (Extended digital Line Subscriber
Line) and Network Management Systems, it said.
ABS
India ties-up with Alcatel to widen its solutions portfolio
Silicon India, 4 July 2003
ABS India, an enterprise communication solution provider,
today announced that it has signed an agreement with Alcatel India for
marketing Alcatel’s latest state-of-the-art Wide Area Network (WAN) range of
solutions in the Indian sub-continent. The WAN portfolio of solutions from
Alcatel would complement ABS India’s current enterprise product portfolio. ABS
India with this agreement would be providing solutions to enterprises with
multi service switches, voice and data multiplexers, XDSL (Extended Digital
Subscriber Line) and network management system. ABS India would be also
providing installation and support for these WAN solutions. These products would
be targeted at contact centers, IT companies, utilities like large oil
companies and large corporates within India and the sub-continent, which
include Srilanka, Maldives, Nepal and Bangladesh.
Top Dogs
buy out Alcatel's Indian arm
Economic Times, New Delhi, 9 December 2002
In a unique case of local management buyout of a MNC's
Indian Subsidiary, the $25-billion French telecom major Alcatel's division,
Alcatel Business Systems, has been brought out in India by the senior Indian
managemnt. Alcatel Business Systems India Private. Limited., one of the many
Alcatel divisions that have operations in India, was a 100% arm of Alcatel
Business Systems in France. Post-buyout, however, Alcatel doesn't hold any
stake in the unit, which has been renamed as ABS India Private Limited.
The senior management, which includes MD V Pradeep, director(sales and
marketing), Sunil Arora and Director (finance) Parswanath, now own the company.
Both FIPB and RBI approvals have been obtained for the deal. Alcatel Business
Systems global turnover is around $5 billion. The Indian division of Alcatel
Business systems has a turnover of Rs 450 million.
The whole process of buyout was hand-held and supported by Alcatel's exclusive
partner in various networking equipment like LAN switches, WAN equipment and
EPABX systems. However, the company is free to deal with other companies
products in non-competing areas.
The decision of the local management to buy out the Alcatel parent came when
Alcatel decided that it was going to prune back the international arms of its
business solutions division.
In Europe, for instance, Alcatel Business Systems has sold its 17 subsidiaries
to one company, Platinum Equity. Says Alcatel Business Systems' Asian director
Philippe Chadoin, " In the enterprise space, if you want to get market
reach in different countries, one needs to hire a lot of people in the sales,
pre-sales and service space, and that costs a lot of money. And so Alcatel
Business Systems decided to hire business partners in various countries, rather
than be stuck with Alcatel's own employees. In the case of business partners,
they can change them after a period of time if they are not satisfied with
their performance."
Important
Training at ABS
Given that the telephone continues to play a major role in
the sales cycle, it is not surprising that the communications system is one of
the most important assets the organisation has, after the people that it
employs.
Technological developments that exist today can handle the most sophisticated
telecommunication tasks, but without the right level of skills or knowledge,
organisations may not realise the full potential of a chosen solution, where it
is only as effective as the people that use it.
With this understanding, ABS India imparts quality, cost-effective training
courses designed to help organisations not only adapt to changing environments,
but also deliver greater returns from their investments in both people and
communication systems.
ABS India also continues to support its innovative projects with training
program opportunities provided for its personnel to acquire different visions,
skills and technical knowledge. Thus, throughout the year, ABS India personnel
are provided with the opportunity to participate in several training programs.
Form 8
|
Corporation identity number (CIN) or foreign company
registrations number of the company |
U31909KA1995PLC019296 |
|
Name of the company |
ABS INDIA PRIVATE LIMITED |
|
Address |
# 49, 100 Feet Road, Koramangala IV Block, Bangalore – 560034,
Karnataka, India |
|
This Form is for |
Creation of charge |
|
Type of Charges |
Book debts, movable property, floating charge |
|
Particular of the charge holder |
ABN Amro Bank N. V. Prestige Towers, 99 and 100, Residency Road, Bangalore –
560 025, Karnataka, India |
|
Nature or description of the instrument creating
charge |
Facility cum hypothecation agreement , special
hypothecation agreement (both constitute a single charge) |
|
Date of the instrument creating charge |
28.06.2007 |
|
Amount Secure by the charge |
Rs. 94.375 millions |
|
Brief of the principal terms and conditions and extent and
operation of the charge |
Rate of Interest: Term Loan / Bill Discounting/ Buyers Credit – Interest –
At negotiated rates . Overdraft – interest – At Banker’s PLR (presently 15.25%) L/C / Guarantee – Commission – Standard Tariff Terms of Repayment: Term Loan – Maximum 4 years repayable in 16 equal quarterly
installments starting 3 month from the first drawdown. Overdraft – repayable on demand Buyers Credit – maximum 180 days bill discounting –
maximum 120 days , ILC (usance and validity) – maximum 90 days and vaidity 90
days , FLC (usance and validity) – maximum 120 days and validity 180 days. Guarantee 1- maximum 2 years excluding claim period of 6
months Guarantee 2 – maximum 3 years excluding claim period of 6
months Margin: as applicable, if any Extent of operation of the charge: 1 – sole charge on
entire current assets , both present and future of the company 2 – sole charge on entire movable fixed assets both
present and future of the company |
|
Description of the property charge whether it is a charge
on |
-- |
|
Modification charge Charge identification number of the charge to be modified |
-- |
|
Date of instrument modifying the charge |
-- |
|
Particulars of the Property charged |
a)
All
movable plant and machinery being movable properties now started at or being stored
or which may hereafter be brought in to a stored, b)
All
the stock in trade both present and future consisting of raw material,
finished goods, goods in process of manufacturing and other merchandise c)
All
the present and future book debts, outstanding monies, receivables, claims
and bill of the company situated at No. 49, 100 Feet Road, Koramangala, 4th
Block, Bangalore – 560 034 or any other locations, |
|
Name
of the company |
ABS INDIA PRIVATE
LIMITED |
|
Presented By |
ABS INDIA PRIVATE
LIMITED |
|
1) Date
and description of instrument creating the
change |
Dated
20.02.2004, Common Hypothecation Agreement |
|
2) Amount
secured by the charge/amount owing on
the securities of charge |
Rs.
75.000 millions |
|
3) Short
particular of the property charged. If the property acquired is subject to charge,
date of the acquired of the property should be
given |
Hypothecation
of all present and future stocks of goods such as raw materials, goods in
process, finished goods and manufactured goods and other items of stock in
trade and stores, spares, components, machinery, vehicles, furniture and
fixtures, computers, printers, and software, office equipments, etc., and
book debts, outstanding monies, bills receivables, claims and bills, etc by
way of the first charge. |
|
4) Gist
of the terms and conditions and extent and operation of the charge. |
Interest @ 3% p.a. over PLR with a minimum of 13.75% pa.a Repayment on demand |
|
5) Name
and Address and description of the person entitled to the charge. |
Canara Bank Town Hall Branch, Stock Exchange Building, Bangalore,
Karnataka, India |
|
6)
Date and brief description of
instrument modifying the charge |
N A |
|
7) Particulars
of modifications specifying the terms and conditions or the extent of
operations of the charge in which modification is made and
the details of the modification. |
N A |
Partners
At ABS India,
they bring leading-edge technologies and solutions to our customers. To do
this, they evaluate the global IT environment and identify key players for
those companies that believe provide the best technology solutions and products
in their class. They look for companies that have a clear vision, a strong
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This approach enhances ability to deliver end-to-end e-Business solutions and
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India
Telerex Communication India Private Limited
H 18, Masjid Moth, Greater kailash 2
New Delhi - 110048
Ph: +91 11 5177 7777
Fax: +91 11 5177 7742
United Tele Links (Bangalore) Private Limited
No 4, Subdar Garden
Bazar Road, Indiranagar
Bangalore - 560 038
Ph: +91 80 2528 4748
Fax: +91 80 2529 3107
Concepts & Devices
129, Greams Road
Chennai - 600 006
Ph: +91 44 2829 9434 / 5174
Fax: +91 44 2829 0176
B2U Office Automation
# 248, Srinivasa Colony (W)
Ameerpet, Hyderabad - 38
Ph +91 40 23733563
SAARC Countries
DHIRAAGU
Dhivehi Raajjeyge Gulhan Private Limited
19, Medhuziyaaraiy Magu
P O Box 2082
Male'
Republic of Maldives
Ph: +960 322802
Fax: +960 322800
Cimex Trading (Private) Limited
GPO Bo - 771
Lazimpat
Khatmandu
Nepal
Ph: +977 1 4418647
Fax: +977 1 4419872
Tele Tell Communications
Rajuk Annexe Building (1st Floor)
Dilkusha C/A
Dhaka - 1000
Bangladesh
Ph: +880 2 9551123
Fax: +880 2 9563325
M/s Peljorkhang Private Limited
Thimphu,
Bhutan
Ph: +975-2 323386(G) 325514(D)
Fax: +975-2 322716
CMT REPORT [Corruption, Money
laundering & Terrorism]
The Public Notice information has been collected
from various sources including but not limited to: The Courts, India
Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records exist designating subject or any of its beneficial
owners, controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to
suggest that subject is or was the subject of any formal or informal
allegations, prosecutions or other official proceeding for making any
prohibited payments or other improper payments to government officials for
engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the
subject are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges
or conviction registered against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges
or investigation registered against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges
or investigation registered against subject: None
7] Criminal
Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation
with Government :
No
record exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our
market survey revealed that the amount of compensation sought by the subject is
fair and reasonable and comparable to compensation paid to others for similar
services.
10] Press
Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do
provide comments on Corporate Governance to identify management and governance.
These factors often have been predictive and in some cases have created
vulnerabilities to credit deterioration.
Our Governance Assessment focuses principally on
the interactions between a company’s management, its Board of Directors,
Shareholders and other financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any
existing local laws, regulations or policies that prohibit, restrict or
otherwise affect the terms and conditions that could be included in the
agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 39.29 |
|
UK Pound |
1 |
Rs. 80.72 |
|
Euro |
1 |
Rs. 57.67 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk and to
set the amount of credit to be extended. It is calculated from a composite of
weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial condition
(40%) Ownership
background (20%) Payment
record (10%)
Credit history (10%) Market trend
(10%) Operational
size (10%)
SCORE &
RATING EXPLANATIONS
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base
with the strongest capability for timely payment of interest and principal
sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution
needed for credit transaction. It has above average (strong) capability for
payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded
healthy. General unfavourable factors will not cause fatal effect. Satisfactory
capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar
weight in credit consideration. Capability to overcome financial difficulties
seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to
be exercised |
Credit not recommended |