MIRA
INFORM REPORT
|
Report Date : |
04.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
INVENTURUS KNOWLEDGE SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Panduronga Timblo Industries, Akash Bhavan, 2nd Floor,
Opposite Canara Bank, Panjim-403001, Goa |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
05.09.2006 |
|
|
|
|
Com. Reg. No.: |
4816 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U72200GA2006PTC004816 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMI07313F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
To carry on the activity of providing knowledge based solutions for transactions
and voice based business outsourcing services of all types including
consulting for business process optimization and information Technology
enabled analytical services and to carry on the activity of providing
information and knowledge based services and consultancy about industries,
services and all facts of trade and commerce in India and Overseas. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
USD 388190 |
|
|
|
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new company and had not commenced commercial operations
as per last available financials. The company had incurred some initial losses.
Trade relations are fair. Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings. |
LOCATIONS
|
Registered Office : |
Panduronga Timblo Industries, Akash Bhavan, 2nd Floor, Opposite
Canara Bank, Panjim-403001, Goa, India |
|
E-Mail : |
niladri.sengupta@inventurus.com Sales- sales@inventurus.com |
|
Website : |
|
|
|
|
|
Headquarters: |
5, Penn Plaza, 23rd Floor, New York, NY 10001, USA |
|
Tel. No.: |
646-378-2182 |
|
Fax No.: |
646-417-5531 |
|
|
|
|
Sales and Solutions Office: |
7507 W, Sunset Blvd, St.204, Los Angeles, CA-90046, USA |
|
Tel. No.: |
323-512-6190 |
|
Fax No.: |
323-375-0461 |
|
|
|
|
Delivery Center: |
The Corporate Center,4th Floor, Nirmal Lifestyles, LBS
Marg, Mulund (W), Mumbai-400080, Maharashtra, India |
|
Tel No.: |
91-22-30711100 |
|
Fax No.: |
91-22-66466879 |
DIRECTORS
|
Name : |
Mr. Joseph Charles Benardello |
|
Designation : |
Director |
|
Address: |
1828 N, Courtney Ave, Los Angeles CA 90046, USA |
|
Date of Birth/Age : |
08.03.1967 |
|
Date of Appointment : |
15.11.2007 |
|
|
|
|
Name : |
Mr. Rajeshkumar Jhunjhunwala |
|
Designation : |
Director |
|
Address : |
3, Sital Sagar, 64, Walkeshwar Road, Malbar Hill,Mumbai-400006,
Maharashtra, India |
|
Date of Birth/Age : |
18.08.1953 |
|
Date of Appointment : |
05.09.2006 |
|
|
|
|
Name : |
Mr. Yashpal Changu Lokhande |
|
Designation : |
Director |
|
Address : |
2, Krishna, Gauri, CHS, Navapada, Subhash Road, Dombivali (W),
Mumbai-421202, Mharashtra, India |
|
Date of Birth/Age : |
01.06.1959 |
|
Date of Appointment : |
05.09.2006 |
|
|
|
|
Name : |
Mr. Manu Parpia |
|
Designation : |
Director |
|
Date of Birth/Age : |
06.01.1950 |
|
Date of Appointment : |
26.03.2007 |
|
|
|
|
Name : |
|
|
Designation : |
Director |
|
Address: |
Jamuna Sagar, shahid Bhagat Singh Road, Colaba, Mumbai-400005,
Maharashtra, India |
|
Date of Birth/Age : |
29.06.1961 |
|
Date of Appointment : |
26.03.2007 |
|
|
|
|
Name : |
|
|
Designation : |
Director |
|
Date of Birth/Age : |
05.07.1960 |
|
Date of Appointment : |
26.03.2007 |
|
|
|
|
Name : |
Mr. Berjis Minoo Desai |
|
Designation : |
Director |
|
Date of Birth/Age : |
02.08.1956 |
|
Date of Appointment : |
15.11.2007 |
KEY EXECUTIVES
|
Name : |
Mr.
Jeffrey Freimark |
|
Designation : |
Non-Executive Chairman and Healthcare Industry Executive |
|
Address : |
21335, Harrow Court, Bocaration, Florida- Zip33433USA, US |
|
Date of Birth/Age : |
1103.1955 |
|
Date of Appointment : |
02.11.2006 |
|
|
|
|
Name : |
Mr. Sachin Gupta |
|
Address: |
11, Central Lane, Bengali Market Lane, New Delhi-110001,
India |
|
Designation : |
President and Chief Executive
Officer |
|
|
|
|
Name : |
Mr. Manish Gupta |
|
Designation : |
Board Member |
|
|
|
|
Name : |
Mr. Joe Benardello |
|
Designation : |
Executive VP and Chief Sales
Officer |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
List of Allottees As on 30.10.2006
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Nitin Gupta |
|
595000 |
|
Mr. Sachin Gupta |
|
595000 |
|
Ms. Ashwini Timblo |
|
300000 |
|
Mr. Jeffrey P. Freimark |
|
75750 |
List of Allottees as on 16.11.2006
|
Names of Shareholders |
|
No. of Shares |
|
Mrs. Rekha Jhunjhunwala |
|
5665000 |
|
Dr. Aniruddh Malpani |
|
125000 |
|
Mr. Joseph Benardello |
|
210000 |
List of Share holders as on 29.08.2006
|
Names of
Shareholders |
|
No.
of Shares |
|
Mr. Rajesh Kumar Jhunjhunwala |
|
9500 |
|
Mr. Yashpal Lokhande |
|
500 |
BUSINESS DETAILS
|
Line of Business : |
To carry on the activity of providing knowledge based solutions for
transactions and voice based business outsourcing services of all types including
consulting for business process optimization and information Technology
enabled analytical services and to carry on the activity of providing
information and knowledge based services and consultancy about industries,
services and all facts of trade and commerce in India and Overseas. |
GENERAL
INFORMATION
|
|
|
|
Bankers : |
NA |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Sunil Singh (Chartered Accountant) |
|
Address : |
30, Patarkar, M.Kalekar Road, Bandra East, Mumbai-400051,Maharashtra,
India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2301462 |
Equity Shares |
Rs.10/- each |
Rs.23.015
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
23.015 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
54.865 |
|
|
4] (Accumulated Losses) |
|
|
(0.242) |
|
|
NETWORTH |
|
|
77.638 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
77.638 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
9.066 |
|
|
Capital work-in-progress |
|
|
0.671 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
5.851 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
33.952 |
|
Total
Current Assets |
|
|
39.803 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
4.363 |
|
|
Provisions |
|
|
0.640 |
|
Total
Current Liabilities |
|
|
5.003 |
|
|
Net Current Assets |
|
|
34.800 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
33.101 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
77.638 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2007 |
|
|
Sales Turnover |
|
|
3.233 |
|
|
Other Income |
|
|
0.000 |
|
|
Total Income |
|
|
3.233 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
(107.161) |
|
|
Provision for Taxation |
|
|
134.678 |
|
|
Profit/(Loss) After Tax |
|
|
(241.839) |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Other Expenditure |
|
|
110.394 |
|
Total Expenditure |
|
|
110.394 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2007 |
|
PAT / Total Income |
(%) |
|
|
(7480.33) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
(3314.60) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(129.67) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(1.38) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
7.95 |
LOCAL AGENCY FURTHER
INFORMATION
Website Details Attached:
Subject
is backed by some of the world’s largest Private Equity investors. They see in
the future of the high-end outsourcing business where deep domain expertise
meets cutting-edge outsourcing processes and technologies. This vision of the
company powers its continuous investment into honing the edge in select areas
of focus. Their Management Team consists of outstanding professionals with
years of experience in relevant domains working with world-leading corporations.
Their Management Team is deeply committed to the company as entrepreneurs
invested in the success of the subject.
Management:
- Jeffrey Freimark -
Non-Executive Chairman & Healthcare Industry Executive
- Rakesh Jhunjhunwala -
Primary Investor & Visionary
- Berjis Desai -
Investor & Legal Industry Luminary
- Manu Parpia -
Investor & Outsourcing Industry Pioneer
- Dr. Aniruddha Malpani
- Investor & Healthcare Pioneer
- Manish Gupta,
Board Member
- Sachin Gupta,
President & CEO
- Joe Benardello,
Executive VP & Chief Sales Officer
- The
Management Team
- The Advisory
Team
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 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.42.37 |
|
UK Pound |
1 |
Rs.84.01 |
|
Euro |
1 |
Rs.65.96 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
---- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
--- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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 |
|