MIRA
INFORM REPORT
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Report Date : |
11.09.2007 |
IDENTIFICATION DETAILS
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Name : |
C AHEAD INFO TECHNOLOGIES INDIA PRIVATE LIMITED |
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Registered Office : |
Fazal Manor, 2nd Floor, |
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Country : |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
25.08.2004 |
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Com. Reg. No.: |
08-34575 |
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CIN No.: [Company
Identification No.] |
U72900KA2004PTC034575 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRC06346E |
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PAN No.: [Permanent
Account No.] |
AACCC6167D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in the business of providing of IT Solutions, Consulting
an BPOL Solutions services. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 300 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 3 year old company and in the process of establishing
itself. As per last available financials of 31.03.2005, the company had
incurred some initial losses. Management declined to part with latest financials. Payments are
reported as slow and delayed. The company can be considered for small business dealings on safe and
secured trade terms and conditions, only. |
LOCATIONS
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Registered Office : |
Fazal Manor, 2nd Floor, |
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Tel. No.: |
91-80-41828888 |
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Fax No.: |
91-80-41828801 |
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E-Mail : |
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Website : |
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Area : |
Commercial |
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Head Office : |
403 / 404,, 2nd |
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Tel. No.: |
91-80-41828888 |
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Fax No.: |
91-80-41828801 |
DIRECTORS
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Name : |
Mrs. Bindu Sandeep |
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Designation : |
Managing Director |
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Address : |
No. 1174, 12th Main, 2nd Stage, Nagapura,
Mahalaxmipuram, |
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Date of Birth/Age : |
34 Years |
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Date of Appointment : |
25.08.2004 |
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Name : |
Mr. Chandrashekar Achar |
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Designation : |
Director |
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Address : |
No. 1174, 12th Main, 2nd Stage, Nagapura,
Mahalaxmipuram, |
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Date of Birth/Age : |
60 Years |
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Date of Appointment : |
25.08.2004 |
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Name : |
Mr. Sandeep Sekhar |
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Designation : |
Director |
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Date of Birth/Age : |
34 Years |
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Name : |
Mr. Chari Murli |
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Designation : |
COO and Director |
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Date of Birth/Age : |
44 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Mrs. Bindu Sandeep |
9000 |
90.00 |
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Mr. Chandrashekar Achar |
1000 |
10.000 |
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Total |
10000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of providing of IT Solutions,
Consulting an BPOL Solutions services.
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Services : |
Consulting Business process
re-engineering IT Strategy
consulting Application
portfolio analysis Business Continuity
planning and disaster recovery planning Strategic IT
solutioning Planning Development Management IT Parks IT
Solutions Outsourced
Application Services Consulting
Services Contractor Cell
Services BPO
Solutions Capturing data Storing data Indexing data Retrieval Access to data Packaged
Applications Supply Chain Management
(SCM) Customer
Relationship Management (CRM) Strategic
Technology and Architecture Consulting Migration and
Deployment |
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Exports : |
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Countries : |
Services provided to |
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Imports : |
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Products : |
Equipments |
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Countries : |
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Terms : |
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Services
Provided : |
50 % advance and 50 % milestone based payment |
GENERAL INFORMATION
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Customers : |
MNC’s [Overseas] |
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No. of Employees : |
Around 240 |
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Bankers : |
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Facilities : |
HDFC – 10.000 Million dollar project |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
AAGJ and Company Chartered Accountants 10/1, 2nd Floor, 3rd Main, Hanumanthnagar, E. Venkateshwar Prasad and Company Chartered Accountants Tel No.: 91-80-23238295 |
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Associates/Subsidiaries : |
C Ahead Info
Technologies Africa Private Limited Address : Line of Business
:
Subject is engaged in the business of providing of IT Solutions, Consulting an
BPOL Solutions services. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
As on 12th March 2007
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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[0.015] |
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NETWORTH |
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0.085 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.085 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.070 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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0.070 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.009 |
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Provisions |
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Total
Current Liabilities |
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0.009 |
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Net Current Assets |
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0.061 |
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MISCELLANEOUS EXPENSES |
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0.024 |
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TOTAL |
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0.085 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Profit/(Loss) Before Tax |
Around 25.000 |
Around 4.700 |
[0.015] |
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Provision for Taxation |
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-- |
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Profit/(Loss) After Tax |
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[0.015] |
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Expenditures : |
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Total Expenditure |
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0.015 |
Expected Sales (2007-08) : Around Rs. 40.000 Millions
KEY RATIOS
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PARTICULARS |
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31.03.2005 |
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Return on Total Assets (PBT/Total Assets} |
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[15.96] |
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Return on Investment (ROI) (PBT/Networth) |
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[17.65] |
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Quick Ratio |
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7.78 |
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Current Ratio (Current Asset/Current Liability) |
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7.78 |
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Current Liabilities / Networth |
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0.11 |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference
- Wipro
Technologies,
- Accenture
Services,
- Oracle
Systems, US
AS PER WEBSITE
Overview
- C Ahead
Technologies India Private Limited is an end-to-end IT Services
organization servicing all the IT & ITES needs of its global clients under
one roof.
- C Ahead
Technologies was floated by a group of IT Veterans from Top MNC’s such as
Accenture, SAP and Wipro with proven experience in the IT Arena.
- C Ahead Technologies is a global
organization with offices in
- Presently the company employees more
than 240 Employees in various skill areas.
- C Ahead
Technologies has vast experience in the areas of Business Consulting,
Process Reengineering, Package Implementation, Training and Staff
Augmentation.
Company History
C Ahead Technologies was established in 2000
by a group of IT veterans who came from various global IT giants such as SAP,
Wipro and Accenture. Head quartered in
Management Team
Mr. Sandeep Sekhar: An engineer and masters
in international marketing and veteran of IT industry with 17 Years of
excellent track record in IT Operations and new business generation. Sandeep
has been at senior levels with top brands such as Accenture, SAP and Wipro. He
has been in instrumental roles with Accenture's
Sandeep has been global head for marketing and alliances with Wipro and has
been very successful in creating a global alliance strategy with all leading
product vendors in US and
Ms. Bindu (Managing Director): A master in Human Resource Management and
Economics with 17 Years of experience in business management and IT Operations.
Bindu has worked with some of the major organizations at management level such
as Lycos Asia, Astra IDL, Enron and OKS Germany. She has been instrumental in
transforming internal business processes to successful business transformation
in all the organizations. She has been actively involved with international
multi-complexity projects and built Lycos Asia in
Mr. Chari Murli (COO and Director): A Master in Nuclear Physics with 20
Years of IT Operations and Package Implementation experience. He has been
associated with brands such as Accenture and Wipro. He has been instrumental in
building strong delivery platforms, practices and human capital management in
almost all technologies. He has implemented many SAP end to end projects and
transformed Wipro's internal practice to a SAP Platform. Has managed many
practices and managed over more than 3000 people in his career and been part of
IT journey since 1985 globally. Murli has vast experience in European markets
with many large fortune companies as his clients. He comes with strong
experience and commitment to quality, CMM and six-sigma in business.
Alliances
C Ahead Technologies chooses to work with
alliance partners with best in class technologies in specific industries to
develop business solutions for its clients. Their focus will continue to
develop and delivery technology leading solutions by working with their
alliance partners.
C Ahead Technologies recommendation to the client is based
solely on what is best for the client and insures the best total cost of
ownership for the client. C Ahead Technologies does not solicit or accept any
influence or marketing assistance fees from any of its alliance partners.
C Ahead Technologies Alliances can be characterized as:
Marketing Alliances
C Ahead Technologies C Ahead technologies with its alliance partners jointly develop, sell and deliver business solutions with its Strategic global deliver model and the alliance partner's technology and services which leverages C Ahead's industrial, functional and technical expertise.
Technology Alliances
C- ahead Technologies C Ahead Technologies works with an alliance partner in order to build technical competency in the alliance partner's technology through training and engagement with the alliance partner's technical support, develop teams, tools and methodologies at C Ahead Technologies Centers of Excellence.
Operational Alliances
C- ahead Technologies works with many alliance partners in areas of sourcing, recruitment and administration in order to run the business in the most effective manner and source the best breed talents from all parts of the country. C Ahead Technologies is partnering with the best placement agencies and support service vendors.
Branding
C Ahead Technologies vision is to provide solutions and put
the wisdom of vast experience into each solution.
The Brand
C Ahead Info Technologies Private Limited.
Business Objective
Become
a leading End to End IT Solutions provider in
Business
C Ahead Technologies is getting into all spectrums of IT solutions. It is going
to be a large organization with a potential to grow sizeably and to get
recognized. And today, since the Indian IT’s upper hand is proven, it’s not a
hard task based on the vision and strategies being formulated and implemented.
Visual Identity
Positioning - Arriving at the correct positioning
- C Ahead Technologies is into End to End
IT solutions.
- C Ahead Technologies is futuristic and
thinks ahead of time.
- C Ahead
Technologies is flexible and global in true sense
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.58 |
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1 |
Rs.82.22 |
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Euro |
1 |
Rs.55.97 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
1 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
1 |
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--CREDIT LINES |
1~10 |
1 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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13 |
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%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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