MIRA
INFORM REPORT
|
Report Date : |
30.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
LINK TELECOM PRIVATE LIMITED |
|
|
|
|
Registered Office : |
9, Chakraberia Road, (North) , 1st Floor, Kolkata – 700 020,
West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
15.02.2002 |
|
|
|
|
Com. Reg. No.: |
21-94239 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U64202WB2002PTC094239 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CALL01081D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Distributor of Samsung Handset Mobiles and Accessories |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 34000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Deepak Gupta |
|
Designation : |
Director |
|
Contact No.: |
91-9830255900 |
|
Date : |
30.04.2008 |
LOCATIONS
|
Registered Office : |
9, Chakraberia Road, (North) , 1st Floor, Kolkata – 700
020, West Bengal, India |
|
Tel. No.: |
91-33-24863426 |
|
Mobile No.: |
91-9830255900 / 9830962162 |
|
Fax No.: |
91-33-24863426 |
|
E-Mail : |
|
|
Area: |
2000 Sq.fts |
|
Location: |
Rented |
|
|
|
|
Corporate Office : |
Shanti Niketan, Suite No. 10, 1st Floor, 8 Camc Street, Kolkata
– 700 017, West Bengal, India |
|
Tel. No.: |
91-33-22820979 |
|
Fax No.: |
91-33-22820980 |
|
|
|
|
Branches: |
Located at: · Bhunaveshar, · Ranchi, · Patna, · Ranchi, · Guwahati |
|
Location: |
Rented (All Branches) |
DIRECTORS
|
Name : |
Mr. Subhash Subberwal |
|
Designation : |
Director |
|
Address : |
112A, Block A , 5th Floor, Tivoli Court, Ballygunge
Circular Road, Kolkata – 700 019, West Bengal, India |
|
Date of Birth/Age : |
21.09.1961 / 64 years |
|
Qualification: |
MBA |
|
Date of Appointment : |
15.02.2002 |
|
|
|
|
Name : |
Mr. Deepak Gupta |
|
Designation : |
Director |
|
Address : |
II / DIO / Aasha, 93 Deshpran Sasmal Road, Kolkata – 700 033, West
Bengal, India |
|
Date of Birth/Age : |
22.08.1958 / 50 years |
|
Qualification: |
Post Graduate |
|
Date of Appointment : |
15.02.2002 |
|
|
|
|
Name : |
Mr. Vijay Pahwa |
|
Designation : |
Director |
|
Address : |
94 Apsara 67 Park Street, kolkata – 700 016, West Bengal, India |
|
Date of Birth/Age : |
11.06.1956 |
|
Date of Appointment : |
15.02.2002 |
|
Tel No.: |
91-22-263189 |
KEY EXECUTIVES
|
Name : |
M/S S N Bhattacharya |
|
Designation : |
Company Secretary |
|
Address : |
UG 05, 01A, Udayan, The Condoville, 1050/1, Survey Park, Kolkata – 700
075, West Bengal, India |
|
Tel No.: |
91-33-24163983 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders (as on 31.03.2007) |
|
No. of Shares |
|
Mr. Subhash Subberwal |
|
105000 |
|
Mr. Deepak Gupta |
|
105000 |
|
Mrs. Anita Subberwal |
|
10000 |
|
Mrs. Naina Subberwal |
|
10000 |
|
Mrs. Seema Gupta |
|
10000 |
|
Mr. Nikhil Gupta |
|
10000 |
|
|
Total
|
250000 |
Equity Shares Breakup (Percentage of Total Equity): (as on 31.03.2007):-
|
Sr No. |
Category |
Percentage |
|
1 |
Directors or relative of directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor of Samsung Handset Mobiles and Accessories |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit |
GENERAL
INFORMATION
|
Customers : |
Wholesaler |
|
|
|
|
No. of Employees : |
50 |
|
|
|
|
Bankers : |
· State Bank of India, Camac Street, Kolkata – 700 017, West Bengal, India · State Bank of Patiala, 8 Camac Street, Shantiniketan Building, Kolkata – 700 017, West Bengal, India · The Hong Kong and Shanghai Banking Corporation Limited, 31 B B D Bag, Kolkata – 700 001, West Bengal, India |
|
|
|
|
Facilities: |
CC Rs. 15.000 millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Nityananda Saha Chartered Accountants |
|
Address : |
560, Dakshindari, Lahabagan, Kolkata – 700 048, West Bengal, India |
|
Mobile No.: |
91-9831020656 / 9830405862 |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity shares |
Rs. 10/- each |
Rs. 2.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
250000 |
Equity shares |
Rs. 10/- each |
Rs. 2.500 millions |
||
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.500 |
2.500 |
0.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5.839 |
3.398 |
3.357 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8.339 |
5.898 |
3.857 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7.409 |
21.392 |
10.504 |
|
|
2] Unsecured Loans |
37.761 |
27.806 |
17.446 |
|
|
TOTAL BORROWING |
45.170 |
49.198 |
27.950 |
|
|
DEFERRED TAX LIABILITIES |
0.022 |
0.092 |
0.084 |
|
|
|
|
|
|
|
|
TOTAL |
53.531 |
55.188 |
31.891 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.910 |
1.268 |
1.074 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
39.700
|
28.491 |
19.441 |
|
|
Sundry Debtors |
33.016
|
20.016 |
11.214 |
|
|
Cash & Bank Balances |
7.012
|
12.644 |
13.107 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
6.602
|
5.517 |
2.555 |
|
Total
Current Assets |
86.330
|
66.668 |
46.317 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
29.313
|
8.091 |
12.478 |
|
|
Provisions |
5.410
|
4.674 |
3.042 |
|
Total
Current Liabilities |
34.723
|
12.765 |
15.520 |
|
|
Net Current Assets |
51.607
|
53.903 |
30.797 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.014 |
0.017 |
0.020 |
|
|
|
|
|
|
|
|
TOTAL |
53.531 |
55.188 |
31.891 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
|
1178.318 |
820.239 |
|
|
Other Income |
|
0.835 |
0.109 |
|
|
Total Income |
|
1179.153 |
820.348 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
4.673 |
3.796 |
|
|
Provision for Taxation |
|
1.730 |
1.384 |
|
|
Profit/(Loss) After Tax |
|
2.943 |
2.412 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Financial Charges |
|
2.959 |
1.421 |
|
|
Depreciation & Amortization |
|
0.243 |
0.336 |
|
|
Other Expenditure |
|
1168.076 |
813.038 |
|
Total Expenditure |
|
1171.278 |
814.795 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.24
|
0.25 |
NA
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.39
|
0.46 |
NA
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.29 |
5.58 |
NA
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.56 |
0.64 |
NA
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
9.58
|
10.50 |
11.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.48
|
5.22 |
2.98 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
|
Name of the
company |
LINK TELECOM PRIVATE LIMITED Shantiniketan, Suite No. 10, 1st
Floor, 8 Camac Street , Kolkata – 700 017 |
|
Presented By |
The Hong Kong
and Shanghai Banking Corporation Limited 31 B B D Bag,
kolkata – 700 001 |
|
1) Date and description
of instrument creating the change |
Agreement for
loan / Overdraft against hypothecation of credit Card receivables executed by
M/s Link Telecom Private Limited on 20.09.2005 in favour of The Hong Kong and
Shanghais Banking Corporation Limited
(the bank ) |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 6.000
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 |
All present and
future credit card receivables due to usage of credit card issued by any
credit card issuing entity, owing and payable ore which may at any time
during the continuance of the security become due owing or payable to the company
in the course of its business by any person , firm, company or body corporate. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
In consideration of loan / Overdraft / other Banking facilities
sanctioned by the bank to the company , the company has hypothecated and
charged o the bank by way of first
charge as a continuing, security , the assets mentioned in item No. 3 above
to secure the repayment of the
advances together with Interest cost and all other charge. Interest at the
rate of 10.00% per annum shall be
payable by the company , subject however that the bank shall have the right
of change the rate of Interest after giving notice to the company. The company shall maintain such
margin of security as may be specified
by the bank from time to time . In
case the company fails to fulfill its obligation under the agreement , the
bank shall be entitled to rake possession of the hypothecated properties and
sell them by public auction or private contract and utilize. |
|
5) Name and
Address and description of the person entitled to the charge. |
The Hong Kong and Shanghai Banking
Corporation Limited 31 B B D Bag, Kolkata – 700 001 |
|
6) Date and brief description of instrument
modifying the charge |
NA |
|
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. |
NA |
|
Corporation identity number or foreign company registrations number of
the company |
U64202WB2002PTC094239 |
|
Name of the company |
LINK TELECOM PRIVATE LIMITED |
|
Address |
9, Chakraberia Road, (North) 1st Floor, Kolkata
– 700 020, West Bengal, India |
|
This Form is for |
· Book Debts · Movable Property · Floating Charge · Others |
|
Type of Charges |
State Bank of Patiala Address: 8 Camac Street, Shantiniketan
Building, Kolkata – 700 017, West Bengal, India Email: sbp5027@yahoo.co.in |
|
Particular of the charge holder
|
Letter regarding the grant of individual
limits within the overall limit Supplementary agreement of hypothecation
of goods and assets for increase in the overall limit |
|
Nature or description of the instrument creating charge |
10.12.2007 |
|
Date of the instrument creating charge |
RS. 15.000 millions |
|
Amount Secure by the charge |
Rate of Interest : The Bank reserves the right to charge Interest , commission , discount
, cost charges at such rates (s) as may be determined by the bank from time
to time according to Banking Norms and RBI guidelines, the present rate of
Interest being:- For cash credit @ 1.60% above BPLR i.e @ 14.60% art present on Monthly
rests. Terms of repayment: Cash credit on Demand as agreed between Borrower and Bank Margin: Finished goods - 30% Book debts – 50% (not more than 7 days old) Extent and operation of the charge The charge operated as first charge basis on the whole of hypothecated
fixed assets , Equipments, computers, furniture and all other assets ( Except
Car) and variable assets created to created in future. Others: The borrower shall not do or not allow anything which may prejudice
the security and shall comply with the terms and conditions of the agreement. All other terms and conditions continue to remain as before in full
force effect. |
|
Short particulars of the Property charged |
Hypothecation of the company current assets and stock of Mobile
handsets and accessories, receivable , goods in transit , book debts and
other current assets both present and
future and particulars of the properties and all other terms and conditions
continue to remain as before in full force effect. |
|
Particulars of the present modification |
By this modification the cash credit limit has been enhanced from Rs.
6.000 millions to Rs. 15.000 millions |
TRADE REFERENCES:
· Karuna Management Services Private Limited, (Kolkata)
· Star Info Tech, (Guwahati)
·
Archi Info Tech
(Guwahati)
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.40.22 |
|
UK Pound |
1 |
Rs.79.94 |
|
Euro |
1 |
Rs.62.83 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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
|
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. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|