MIRA
INFORM REPORT
|
Report Date : |
06.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
INTEGREON MANAGED SOLUTIONS INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
Integral Media Services (India) Private
Limited |
|
|
|
|
Registered Office : |
201-202, Winchester Hiranandani Business Park Powai – 400 076,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
06.09.2000 |
|
|
|
|
Com. Reg. No.: |
11-128563 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U72200mh2000ptc128563 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Provider of High-Value, Complex BPO Solutions Services |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 556000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Integrated Managed Solutions INC, USA.
General financial position is good. Business is active. Payments are reported
as usually made as per commitments. The company can be considered good for normal business dealings. |
LOCATIONS
|
Registered Office : |
201-202, Winchester Hiranandani Business Park Powai – 400 076,
Maharashtra, India |
|
Tel. No.: |
91-22-40065330 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Premier House, 2nd Floor, Plot No. 38, Central Road, MIDC,
Andheri (East), Mumbai – 400 093, Maharashtra, India |
|
Tel. No.: |
91-22-40065315 / 4 |
|
|
|
|
Administrative Offices : |
Office No. 2, 4th Floor, Trade Star Building, Sir M V Road,
Andheri (East), Mumbai – 400 059, Maharashtra, India |
|
Tel No.: |
91-22-8265051 / 6930924 / 5693 0924 / 20 / 21 |
|
Fax No.: |
91-22-25693 0923 |
|
E-mail: |
|
|
Websites : |
|
|
|
|
|
Branches : |
Integreon Vatika Towers, 2nd Floor, Tower – B, Sector -54,
DLF Golf Course Road, Gurgaon-122 002, Haryana, India |
|
Tel. No.: |
+0124 428 4430 |
DIRECTORS
|
Name : |
Mr. Liam Jerry Michael Brown |
|
Designation : |
Director |
|
Address : |
10340, Calvin Ave, Los Angeles, California 90025, USA |
|
Date of Birth/Age : |
13.08.1968 |
|
Date of Appointment : |
26.06.2001 |
|
|
|
|
Name : |
Mr. Ricardo Nicanor Nepomuceno Jacinto |
|
Designation : |
Director |
|
Address : |
Apartments 8-D, Avalon Condominium 95 Xavier Street, Green Hills, San
Juan 1500 |
|
Date of Birth/Age : |
14.12.1960 |
|
Date of Appointment : |
06.03.2007 |
|
|
|
|
Name : |
Mr. Prashant Chawla |
|
Designation : |
Director |
|
Address : |
502, Glencroft Building, Hiranandani Garden, Powai, Mumbai – 400 076,
Maharashtra, India |
|
Date of Birth/Age : |
30.12.1964 |
|
Date of Appointment : |
01.09.2003 |
|
|
|
|
Name : |
Mr. Anurag Rajpal Grover |
|
Designation : |
Director |
|
Address : |
D - 502, Jalvayu Vihar Sector A, Powai, Mumbai – 400 076, Maharashtra,
India |
|
Date of Birth/Age : |
17.08.1973 |
|
Date of Appointment : |
23.04.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Integreon Managed Solutions INC |
684146 |
Equity Share Breakup (Percentage of Total Equity) :- [As on 31.03.2007]
|
Category |
Percentage |
|
Foreign Holdings (Foreign Institutional
Investor(s), Foreign Companie(s), Foreign Financial Institution(s), Non –Resident
Indian(s) Or Overseas Corporate Bodies Or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provider of High -Value, Complex BPO Solutions services |
GENERAL
INFORMATION
|
Bankers : |
ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda – 390
015, Gujarat, India |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Financial Institutions : |
Hewlett Packard Financial
Services India Private Limited, 24, Salarpuria Arena, Hosur Main Road,
Adugodi, Bangalore – 560 030, Karnataka, India |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400 028,
Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
(As on 31.03.2007)
:
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs. 10/- each |
Rs. 15.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
684146 |
Equity Shares |
Rs. 10/- each |
Rs. 6.841
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
6.841 |
6.841 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
104.251 |
59.501 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
111.092 |
66.342 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
31.451 |
27.853 |
|
|
2] Unsecured Loans |
|
0.000 |
14.141 |
|
|
TOTAL BORROWING |
|
31.451 |
41.994 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
142.543 |
108.336 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
53.297 |
62.212 |
|
|
Capital work-in-progress |
|
0.812 |
0.058 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
75.320 |
57.986 |
|
|
Cash & Bank Balances |
|
3.175 |
1.811 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
51.724 |
16.688 |
|
Total
Current Assets |
|
130.219 |
76.485 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
29.037 |
23.640 |
|
|
Provisions |
|
12.748 |
6.779 |
|
Total
Current Liabilities |
|
41.785 |
30.419 |
|
|
Net Current Assets |
|
88.434 |
46.066 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
142.543 |
108.336 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
|
355.924 |
243.007 |
|
Other Income |
|
0.000 |
0.000 |
|
Total Income |
|
355.924 |
243.007 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
46.024 |
30.279 |
|
Provision for Taxation |
|
0.000 |
0.000 |
|
Profit/(Loss) After Tax |
|
46.024 |
30.279 |
|
|
|
|
|
|
Export Value |
|
351.402 |
240.124 |
|
|
|
|
|
|
Total Expenditure |
|
309.900 |
212.728 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
|
12.93 |
12.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
12.93 |
12.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
24.97 |
21.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.41 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.66 |
1.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
3.12 |
2.51 |
LOCAL AGENCY
FURTHER INFORMATION
NOTES:-
The Registered Office of the
company was changed from
Office No. 2, 4th Floor, Trade Star Building, Sir M V Road,
Andheri (East), Mumbai – 400 059, Maharashtra, India
to
201-202, Winchester Hiranandani Business Park Powai – 400 076,
Maharashtra, India (w.e.f. 21.02.2007.)
FORM 8:-
|
Name of the
company |
INTEGREON MANAGED SOLUTIONS INIDA PRIVATE
LIMITED |
|
Presented By |
Mr. Prashant Chawla |
|
1) Date and
description of instrument creating the change |
Schedule Number 21036/IND/AAG/S/11/A/1
dated 01.01.2006 under Master Rental and Financing Agreement No. 21036 dated
01.05.2004 |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 15.000
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 |
Office Equipments
|
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Term 36 months, monthly
installments of Rs. 1.085 millions |
|
5) Name and
Address and description of the person entitled to the charge. |
Hewlett Packard
Financial Services India Private Limited, 24, Salarpuria Arena, Hosur Main
Road, Adugodi, Bangalore – 560 030, Karnataka, India |
|
Corporate
identity number of the company |
U72200mh2000ptc128563 |
|
Name of the
company |
INTEGREON MANAGED
SOLUTIONS INIDA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
201-202, Winchester Hiranandani Business Park Powai – 400 076,
Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property |
|
Particular of
charge holder |
CIN : l65190gj1994plc021012 ICICI Bank
Limited, Landmarkrace Cource Circle, Alkapuri, Baroda- 390 015, Gujarat,
India E-Mail: krunal.damania@icicibank.com |
|
Nature of
instrument creating charge |
Unattested deed of hypothecation, guarantee,
irrevocable power of attorney loan agreement
dated 22.02.2008 (1 Nos. of assets server Lenova 9637 CLS) |
|
Date of
instrument Creating the charge |
22.02.2008 |
|
Amount secured by
the charge |
Rs. 0.384 million
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest : 7.35 % IRR Terms of Repayment : Repayable : 36 Equal monthly
installments of Rs. 0.013 million Margin : Rs. 0.043
millions Extent and Operation of the charge : 1st
charge |
|
Short Particulars
of the property charged |
1 No. of asset
server Lenovo 9637 CLS Hypothecation of
equipment first charge for due repayment to the ICICI Bank Limited at any
time or demanded lying at dealer stockyard or godown any where. |
Website details:-
Company
Profile
Subject provides high-value, complex BPO solutions (also known as
Knowledge Process Outsourcing, KPO or judgment-based BPO), specializing in document,
content and knowledge services.
Their customers include the world’s largest financial services
institutions, law firms, consultancies, publishing and media companies, and
Global 2000 corporations.
Subject operates as an extension of their customers’ businesses to
improve their operational controls and enhance service levels. Their
implementation teams work locally with customers anywhere in the world and have
the industry experience and process expertise to help organizations take
strategic advantage of outsourcing.
They operate the following lines of business 24/365
·
Document, content and graphic services
·
Business administration services
·
Legal and discovery support services
Board of Directors
Fred Ayala,
Chairman of the Board
Fred Ayala is the CEO of LiveIt Solutions, Inc., Ayala Corporation’s
holding company for its investments in the BPO sector. He is also the
non-executive Chairman and former CEO of eTelecare, one of the leading customer
care companies in Asia; LiveIt recently acquired a significant shareholding in
eTelecare. Fred was also formerly Chairman of SPi, one of the leading non-voice
BPO companies in Asia.
Previously, Fred was a Partner at Crimson Investment, an international
private equity firm that provides buyout and growth capital financing to
companies capitalizing on the accelerating globalization trend in manufacturing
and services. Before that, he was a Managing Director and Co-Founder of MBO
Partners, an Asian investment firm.
Fred has a double major BA in Developmental Studies (Honors) and
Economics from Brown University, and an MBA from the Harvard Graduate School of
Business Administration.
Liam Brown,
President and CEO
Liam has twenty years of experience in the knowledge services
outsourcing industry, primarily serving investment banks, law firms and Global
2000 corporations. Prior to Integreon, he was the President, COO and founder of
Conscium Inc., an Internet virtual deal room business serving lawyers and
bankers, which was acquired by NYSE-listed Bowne and Co., Inc in 2001. Liam has
also held executive positions at Merrill Corporation, a then NASDAQ-listed,
global outsourcing services provider to law firms, and at the legal outsourcing
services business unit of LSE-listed St. Ives plc in the UK.
Based in Los Angeles, Liam has been President and CEO since 2001,
leading Subject from 10 people in New York providing presentation graphics
services to McKinsey, to almost 2,000 associates globally, providing a
pioneering range of complex, high value research (KPO) and legal (LPO) services
to numerous banks, law firms and corporations today.
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. 42.28 |
|
UK Pound |
1 |
Rs.82.79 |
|
Euro |
1 |
Rs.65.69 |
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 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
60 |
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 |
|
