MIRA
INFORM REPORT
|
Report Date : |
18.08.2008 |
IDENTIFICATION DETAILS
|
Name : |
QUINNOX
CONSULTANCY SERVICES PRIVATE LIMITED |
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Formerly Known
As : |
ISC CONSULTANCY
SERVICES PRIVATE LIMITED |
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Registered Office : |
Unit 45 SDF II,
Seepz Sez, Andheri [East], Mumbai – 400096, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
18.01.1996 |
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Com. Reg. No.: |
11-96419 |
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CIN No.: [Company
Identification No.] |
U72200MH1996PTC096419 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMI02428G |
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PAN No.: [Permanent
Account No.] |
AAACI5721K |
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Legal Form : |
Private Limited
Liability Company. |
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Line of Business : |
Provider of IT
consulting and services to global clients.
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RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED
CREDIT LINE |
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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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Maximum Credit Limit : |
USD |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part
of Quinnox Multi – National Operations. Directors are reported as experienced
and respectable businessmen. Their trade relations are fair. Profit margin is
under severe pressure. Payments are usually correct and as per commitments. The company can
be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
Unit 45 SDF II,
Seepz Sez, Andheri [East], Mumbai – 400096, Maharashtra, India |
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Tel. No.: |
91-22-28290100 |
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Fax No.: |
91-22-28291541 |
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E-Mail : |
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Website : |
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Offshore
Development Centre : |
Unit 170, SDF VI,
Seepz, Andheri [West], Mumbai – 400096, Maharashtra, India |
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Tel. No.: |
91-22-28290100 |
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Fax No.: |
91-22-28291131 |
DIRECTORS
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Name : |
Mr. Noor
Abdulkadar Baig |
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Designation : |
Director |
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Address : |
Flat 3, 2nd
Floor, Sumit Apartments, 31 – A, Carmichel Road, Cumballa Hill, Mumbai –
400026, Maharashtra, India |
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Date of Birth/Age : |
06.11.1945 |
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Date of Appointment : |
18.11.1996 |
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Name : |
Ms. Shaila Noor
Baig |
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Designation : |
Director |
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Address : |
Flat 3, 2nd
Floor, Sumit Apartments, 31 – A, Carmichel Road, Cumballa Hill, Mumbai –
400026, Maharashtra, India |
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Date of Birth/Age : |
12.10.1948 |
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Date of Appointment : |
18.01.1996 |
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Date of Ceasing : |
08.11.2002 |
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Name : |
Mr. Abdulkadar
Mohd Mogul |
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Designation : |
Director |
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Address : |
139 T Juhutara Road,
Santacruz West, Mumbai – 400054, Maharashtra, India |
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Date of Birth/Age : |
07.06.1973 |
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Date of Casing : |
01.04.2000 |
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Date of Appointment : |
28.08.1997 |
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Name : |
Mr. Udai Mulmudi
Kumar |
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Designation : |
Director |
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Address : |
968, Eddy Stone
CR Neperville, IL 60565, USA – 60563 |
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Date of Birth/Age : |
17.04.1961 |
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Date of Appointment : |
17.03.2000 |
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Name : |
Mr. Jayant
Mulmudi Jayaram |
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Designation : |
Director |
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Address : |
3950, Goodpasture
Loop, Apartment L – 122, Eugene OR 97401, USA 400054 |
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Date of Casing : |
08.11.2002 |
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Date of Appointment : |
17.03.2000 |
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Name : |
Mr. Anil
Dudarshan Kumar |
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Designation : |
Director |
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Address : |
1608 Frost Lane, Neperville,
IL 60565, USA – 60563 |
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Date of
Birth/Age : |
25.05.1960 |
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Date of
Appointment : |
08.11.2002 |
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Name : |
Mr. Jai Shekhawat
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Designation : |
Director |
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Address : |
20.03.1963 |
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Date of
Birth/Age : |
3404 Lawrence Drive
Neperville IL – 60564, USA 60563 |
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Date of
Appointment : |
08.11.2002 |
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Name : |
Mr. Ravindra
Subbanna Puthran |
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Designation : |
Director |
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Address : |
301, Raj Sarpvar
Kanderpada, Dahisar West, Mumbai – 400068, Maharashtra, India |
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Date of
Birth/Age : |
09.10.1963 |
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Date of
Appointment : |
05.06.2000 |
MAJOR SHAREHOLDERS
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Names of
Shareholders |
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No. of Shares |
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Mr. Noor
Abdulkadar Baig |
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4758000 |
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Isthreec Private
Limited |
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12250000 |
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Ms. Shaila Noor
Baig |
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35000 |
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Mr. Satish
Shaskar Jadhav |
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3500 |
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Ms. Sonia Satish
Jadhav |
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3500 |
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Mr. Jeevan
Prakash Gathoo |
|
474300 |
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Mr. Viren Anant
Dhawadker |
|
180000 |
(As on
31.03.2007)
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Category |
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Percentage |
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Foreign Holding (FIIs, FCs, FFIs, NRIs, OCBs, or
Others) |
|
69.19 |
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Directors or relatives of director |
|
27.11 |
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Others |
|
3.70 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Provider of IT
consulting and services to global clients. |
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Products : |
Software |
GENERAL INFORMATION
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Customers : |
Fortune 500
Fortune 2000
Others
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No. of Employees : |
400 |
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Bankers : |
Juhu Tara Road Branch, 27, Maneck Mahal, Juhu Tara Road, Santacruz – West Mumbai – 400049, Maharashtra, India |
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Banking Relations : |
Satisfactory |
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Auditors : |
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Name : |
Khushroo B.
Panthaky Chartered
Accountant |
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Address: |
312/313, Ahura
Centre, 82 Mahakali Caves Road, Andheri East, Mumbai – 400093, Maharashtra,
India |
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Name : |
Walker Chandiok
and Company Chartered
Accountant |
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Address: |
Engineering Centre and Company, 9 Matthew Road,
Opera House, Mumbai – 400004, Maharashtra, India |
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Associates/Subsidiaries : |
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Holding Company : |
ISThreec Private
Limited |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
25000000 |
Equity Shares |
Rs.4/- each |
Rs.100.000 millions |
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Issued,
Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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17704300 |
Equity Shares |
Rs.4/- each |
Rs.70.817 millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
70.817 |
70.817 |
70.817 |
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2] Share Application Money |
0.000 |
15.500 |
0.000 |
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3] Reserves & Surplus |
202.996 |
111.708 |
59.029 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
273.813 |
198.025 |
129.846 |
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LOAN FUNDS |
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1] Secured Loans |
78.886 |
71.178 |
37.353 |
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2] Unsecured Loans |
0.000 |
0.000 |
6.300 |
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TOTAL BORROWING |
78.886 |
71.178 |
43.653 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
352.699 |
269.203 |
173.499 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
89.091 |
82.623 |
23.570 |
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Capital work-in-progress |
2.041 |
2.394 |
6.777 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
22.807 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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Inventories |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
187.405
|
188.999 |
147.424 |
|
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Cash & Bank Balances |
25.786
|
13.518 |
14.796 |
|
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Other Current Assets |
62.661
|
37.463 |
0.000 |
|
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Loans & Advances |
78.206
|
41.025 |
88.608 |
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Total Current Assets |
354.058
|
281.005 |
250.828 |
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Less
: CURRENT LIABILITIES & PROVISIONS |
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|
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Current Liabilities |
94.824
|
79.954 |
93.855 |
|
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Provisions |
20.474
|
16.865 |
13.821 |
|
Total Current Liabilities |
115.298
|
96.819 |
107.676 |
|
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Net Current Assets |
238.760
|
184.186 |
143.152 |
|
|
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|
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
352.699 |
269.203 |
173.499 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover [including other income] |
|
610.320 |
444.466 |
|
|
|
|
|
|
|
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Profit/(Loss)
Before Tax |
|
71.841 |
54.729 |
|
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Provision for
Taxation |
|
0.000 |
0.000 |
|
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Profit/(Loss)
After Tax |
|
71.841 |
54.729 |
|
|
|
|
|
|
|
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Export Value |
|
517.930 |
384.833 |
|
|
|
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Expenditures : |
|
|
|
|
|
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Interests |
|
8.379 |
5.348 |
|
|
Depreciation & Amortization |
|
22.084 |
18.241 |
|
|
Other Expenditure |
|
508.016 |
366.148 |
|
Total Expenditure |
|
538.479 |
389.737 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
11.77
|
12.31 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.77
|
12.31 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.21
|
15.05 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.28 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.34
|
0.85 |
1.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.07
|
2.90 |
2.33 |
LOCAL AGENCY FURTHER INFORMATION
Fixed
Assets
·
Plant and
Machinery
·
Office
Equipments
·
Furniture and
Fixture
·
Vehicles
·
Computer
Software
·
Leasehold
Improvements
Corporate Overview:
Subject is a leading IT consulting company focused on
providing business relevant solutions to its customers. They offer the entire
range of enterprise IT services – package implementation, web enablement,
application integration and application management to customers in the BFSI,
Manufacturing and Retail verticals.
Headquartered in the US, company has a presence across four continents. They
leverage the time-tested global delivery model to carry out IT consulting,
development and implementation engagements for their global clients spread
across 38 countries. They have three delivery centers in India and
have successfully executed several hundred engagements since inception.
Company blends deep technical capabilities with a strong
service orientation and process focus to offer a compelling value proposition
to its clients. Company is a values-driven, high energy organization with
a fast growing team of top notch professionals.
Udai Kumar
CEO and Co-Chairman
Co-Chairman and CEO Udai Kumar brings about
20 years of IT industry and entrepreneurial experience. A co-founder of
company, Udai has a deep understanding of the global delivery model and has
successfully managed offshore engagements for a number of Fortune 1000 firms.
Udai holds a Masters in Business Administration with specialization in Systems
and Marketing from the Indian Institute of Management (IIM), Ahmedabad, India
and a BS in Engineering from Benaras Hindu University, India.
Anil Kumar
President and Co-Chairman
President and Co-Chairman Anil Kumar is an
accomplished professional with 20 years’ industry experience. Anil was
instrumental in founding Fieldglass, a Chicago based IT company with an
offshore based delivery model. Anil’s experience spans across delivery and HR.
Anil holds a Masters in Personnel Mgmt & Industrial Relations from the Tata
Institute of Social Services, Bombay, India and Bachelors in Economics.
Rangachari
Desikan
Chief Financial Officer
Rangachari Desikan is the Chief Financial
Officer (Global Operations) of Quinnox. Desikan has extensive experience of
over 29 years in the finance and accounting functions. He has managed the
finance function in organizations across the world. Prior to joining Quinnox,
Desikan was the Chief Financial Officer and Board Member of Xerox Modicorp
Limited. Through his career, Desikan has played a key role in developing
sound financial systems and improving shareholder valuation. Desikan has a
Bachelor's degree in Electronics, an MBA from the Indian Institute of
Management Ahmedabad and an advanced Diploma in Management from Delft
University, Holland.
Amit Nagar
Chief Sales Officer & CEO Americas
Amit Nagar is the Chief Sales Officer and is
responsible for the sales and marketing function at Quinnox. Prior to becoming
a part of the Quinnox management team, Amit headed the global sales function of
a $170M publicly traded offshore services firm. During his tenure, Amit was
responsible for leading the sales and account strategies for offshore
initiatives at major clients such as General Motors, Verizon, Humana, American
Express and Ryder. Amit has an MS (Economics) from Birla Institute of
Technology and Science, India. He also completed his Master of Management
Studies (MMS) from this institute and later completed his MBA from the Kenan -
Flagler Business School at the University of North Carolina at Chapel-Hill.
Ninan George
Director Global
HCM
Ninan George holds an M.A degree in Personnel
Management & Industrial Relations from TISS and a B'Com from Loyola
College. He has over 15 years of experience including 7 years in I.T industry.
He has worked with Eicher Goodearth Limited and Syntel Inc U.S.A. He has many
achievements to his credit in recruiting and H.R functions. He has
conceptualized and implemented creative ideas to attract and retain talent,
integrate operations after a merger of companies and designing of training and
career development programs.
Ashoke Dutt
President -
Banking and Financial Services
Ashoke Dutt is the President of Quinnox's
Banking and Financial Services practice. Ashoke has over 23 years of experience
in the global financial services space including corporate and consumer
banking. He was formerly the Executive Vice President, Marketing at Discover
Financial Services, the largest independent credit card network in the US.
Ashoke spent three years at Morgan Stanley as Executive Vice President,
International before moving on to Discover Financial Services, the credit
services business unit of Morgan Stanley. Prior to his stint at Morgan Stanley,
Ashoke spent 20 years at Citibank, where he has held various senior positions
in Europe, US and Asia. Ashoke holds an M.S in Industrial Engineering from the
Northeastern University, Boston and a B.S in Chemical Engineering from
Calcutta.
Differentiators
Company combines deep domain understanding, diverse technology
capabilities and unmatched service orientation to offer its clients a
compelling value proposition. The following attributes set us apart:
Business Depth
Company has consciously chosen to focus on a few verticals -
this has allowed us to build deep capabilities in the chosen domains. This
allows us to effectively translate business ideas into technology enabled
solutions in quick time.
"Fit for Purpose" Solutions
Their Solution Evolution Methodology built around Company
core purpose of "Solving IT Together" enables us to deliver business
relevant, collaborative, "no surprise" solutions to their clients.
Relationship Management
Complementing their technology and domain competence is
their focus on client servicing. They are highly responsive and extremely
sensitive to their clients needs. Each client engagement is overseen by a
representative of their executive management and this has resulted in company
being the partner of choice for all their clients. Their focus on being
everything to a few, rather than a little to a many has paved the way to many
long standing relationships.
Their client relationship model is highly evolved and
comprehensively covers engagement management and structure, governance,
planning, performance management & reporting and best practices.
Talent Depth
The company team combines passion, intellect and integrity
to surpass client expectations. Companies who blend technical prowess with
business understanding, are carefully nurtured in an environment that fosters
practical innovation, independent thinking and continuous learning.
Quality and
Process
Company prides itself in its SEI-CMM Level 5, ISO 9001:2000
assessed processes and delivery mechanisms by constantly benchmarking and
recalibrating its quality goals. They believe that delivering high quality
solutions requires world class processes and that is reflected in their Quality
Assurance Model.
Quinnox Quality Testimonials
ISO – 9001
SEI-CMM Level 5
Quinnox Methodology
Company follows a well-defined project execution
methodology. The company Organization's Standard Software Processes (OSSP),
developed and maintained by a dedicated Software Engineering Process Group
(SEPG), drives Quinnox's project execution methodology.
The OSSP defines the SDLC processes, Procedures, Manuals, Guidelines, Formats
and Templates to be used by projects. In addition, the SEPG also maintains the
Process Database of published results, artifacts of past projects, library of
reusable components and training material. The Project Managers and the
Software Engineering Team are well trained in the use of OSSP for their
projects.
The company Methodology addresses various requirements from Project
Acquisition, through Project Execution to Quality Assurance.
Individual project processes are derived from the OSSP and
tailored to suit the specific client. The project processes could be derived
for various types of projects namely: Software Development projects, Product Implementation
projects, Migration projects, Customization projects, and Maintenance &
Support projects.
Quinnox's project execution methodology is designed with the
following objectives:
·
Understand the client's requirements correctly and
completely
·
Design and develop the solution with the client's needs in
mind
·
Execute
the project in close coordination with the client
·
Ensure
that all the deliverables are on-time and within budget
·
Detect
and fix defects at an early stage of the project
·
Ensure
all quality objectives of the project are met
·
Provide
adequate training to users, ensuring a high comfort level before transition
·
Provide
post-implementation support to ensure that the client takes charge of the
system
A technically strong Software Quality Assurance (SQA) group
involves through the project lifecycle - from the Proposal stage of a project
through closure of the project.
The SQA is responsible for the following:
·
Review of proposals
·
Facilitation in adhering to the OSSP, Estimation, Project Planning,
Project tracking, Training
·
Quality review of all plans and deliverables, Quality
audits, Software testing, and Defect tracking
·
Audit /assess adherence to project's defined processes
The Project Team and SQA use various tools such as Time Sheets,
Issue Tracking and Defect Tracking Systems to ensure that the project is
executed on time and within budget, and all quality objectives are met.
Dashboards are used in project tracking and enable timely
course corrections. company follows a metrics based approach to project
management. Typical metrics tracked include Effort & Schedule Variance,
Defect Leakage, SLA adherence and Rework. The dashboards are published on a
monthly basis; customers are given access to their respective project dashboards
in the spirit of complete transparency.
Alliances
e-Business Alliances
- IBM
- Bea
- Broad Vision
- Microsoft . net
- Savvion
ERP Alliances
- Oracle
- SAP
EAI Alliances
- IBM
- Web Methods
- CAST IRON
Domain Specific Alliances
- Calypso
Offerings
Company is focused on providing the entire range of IT
services to global enterprises. Their approach to fashioning solutions is
based on two principles - "total business integration" and "fit
for purpose". Their solution delivery methodology is well honed and
governed by rigorous processes. company uses the global delivery model
for engagement execution- this allows their clients to utilize their IT budgets
more effectively.
Their suite of offerings address the IT organizations need to extend the life
of current portfolio while investing prudently for the future:
- E-business enablement
- Enterprise Application Integration Services
- Package led services
- Application Management Services
Industry
Company helps clients exploit new market opportunities by
harnessing the power of technology to create solutions that have a
significant business impact. They help clients successfully navigate through
the constantly changing business and technology environment and attain
leadership positions in their respective markets. They complement deep industry
and technology skills and focus on business solutions with process frameworks
and applications outsourcing capabilities. As a strategy, therefore, they focus
on select verticals that they understand best, and, at this time, they are
committed to honing their expertise and delivering industry strength solutions
in the following verticals:
- Banking & Financial Services
- Retail & Manufacturing
As a part of their growth strategy, they have identified other verticals where they are building capabilities. These include:
- Healthcare
- Pharmaceutical
- Insurance
- Telecommunications
Manufacturing
Overview
As the manufacturing industry strives to reduce time-to-market,
contain costs, maintain quality and retain customers in an increasingly
competitive world, Information Technology can play a key role in helping
companies in this industry attain these objectives. IT can help companies get a
better perspective of their processes, take informed decisions and grow
business.
Greater customer expectations and increasing price pressures have compelled
manufacturing companies to deploy IT to streamline operations and collaborate
with suppliers to reduce costs. Manufacturing companies are increasingly
focusing on solutions that improve their return on assets, minimize operating
costs, optimize capacity, and promote operational excellence.
Company has partnered with many leading manufacturing
organizations and provided IT solutions in the areas of procurement, production
management, shop floor control, sales, customer management, supply chain
management and logistics.
Company offerings for the manufacturing industry include:
- Application management
- Package implementation covering ERP, SCM and CRM solutions
- Custom application development
- Application migration
Banking
and Financial Services Overview
The Banking & Financial Services (BFS) vertical is going
through numerous changes- regulatory changes and globalization have reduced
market barriers and forced existing players to redefine their business models
and market strategies. Moreover, with the internet combined with
revolutionary changes in communication technology, have also altered the rules
of the game in the financial services industry. An important consequence of
this is a number of new entrants in the market place. Supermarket chains,
software houses and mobile phone companies are among those that compete with
banks to provide mortgages, loans, and payment mechanisms.
The online distribution paradigm has led to some commoditization and
disintermediation of the financial services industry. The BFS industry
has responded to the market environment with two broad strategies-
diversification and consolidation. With commoditization and
strained profitability in traditional banking products, banks will look to
partner their customers' lifecycle and behavioral discussions to
differentiate their product offerings and maximize revenues.
Company believes that banks and financial services companies
will have to redefine their strategies, processes and offerings in order to
remain competitive. They must use technology as a lever in enabling this
transformation.
Banking and financial services practice is one of the
fastest growing practices at company. This is fueled by banks and financial
institutions increasingly adopting multi-product and multi geographic
strategies, conversions and upgrades from legacy platforms to more modern
technology options to gain competitive edge, and retail companies moving
into the financial services value chain.
Company is strongly positioned to partner these banks and
financial institution in their efforts. They have established an excellent track
record in strategic implementation partnerships with existing customers in
investment banking and are aggressively moving into corporate and retail
banking /lending domains.
Company is focused on deepening relationships through flexibility
and customized attention to respond to customers needs and strong domain value
addition to customer's business process and strategies. Their offerings address
the need of banks to leverage existing IT investments and building for the
future simultaneously.
Very senior people having banking experiences lead Quinnox’s
BFS vertical.
Retail Overview
The retail industry has witnessed considerable
transformation over the last few years. The peaks and troughs in the economy,
emergence of the changing dynamics of consumerism, the Internet as a business
enabler and distribution channel; all these have replaced the traditional
business models, giving way to new dimensions of retailing. Threat of
competition, pressure to exceed customer expectations and high operational
costs are forcing business leaders and CIOs to find innovative ways to increase
customer value at optimal costs.
In order to thrive in such an environment, retailers need to successfully cater
to the needs of a culturally and demographically diverse population, whilst
creating a differentiated value proposition. The speed at which this value
proposition is delivered and the cost to do so will separate the winners from
the losers.
Company leverages its extensive experience across retail functions to offer
customers best- of -breed services in the retail area. The company together
with its partners brings in a rich understanding of merchandizing operation
dynamics, customer loyalty and supply chain efficiency. With proprietary methodologies
and internationally accredited SEI-CMM level 5 and ISO certified processes,
Company provides quality management and technology consulting services to
strategize, define and deliver integrated retail solutions. They recognize the
challenges faced by Retailers in getting closer to their customers while
improving operational processes.
IT is no longer a support function for the business but is a business enabler.
Their offerings in the business and technology areas enable you optimize the IT
spend by leveraging the power of the legacy systems, while scaling up to meet
the challenges of the new business models.
They realize that the backend systems are critical and they can assist you in
managing the Legacy systems in a cost effective manner and help you extend or
transform these systems to support new channels and technologies.
Their knowledge and expertise in harnessing the power of the Web for e-business
realization makes a crucial difference to their solutions / strategic offering
to the business.
Success Stories
Since inception, Company has endeavored to provide to its
clients the best technology solutions and services that solve their business
problems. In the process, they have grown along with their clients as well as
grown their client base.
Company believes in growing through long-term relationships;
in keeping with this view they have established long-term associations with all
their clients. Their clients are big names in their respective industries and
have been delighted with their service over the years. They have also been able
to provide these clients with flexibility, speed and high quality in every
sphere of service.
A brief look at their success stories will reveal the depth of their technical
expertise, their industries know how and the global coverage. Importantly, they
are able to provide all this without compromising on Quality and Speed.
Except for the Antarctic, a Company solution makes its presence felt in
every continent on the globe, from 10 international offices and 3 world-class
Global Solution Centers.
Company provides a variety of business relevant IT solutions
to leading global 2000 companies. By combining competence in technology and
domain with relentless commitment, they have built long term relationships with
several of their clients. Presented below is a select list of their valued
clients:
Quinnox Inc.
Headquarters
NaperVille, USA
2056 Westings
Avenue, Suite 190, Naperville, IL – 60563
Tel: 1-630 548 4800;
Fax: 1-630 548 4500
Quinnox Limited
London, UK
Corporate
Office - Boundary House, Boston Road, Hanwell, W7 2QE
Tel: 44-0-20 8434 3505
Fax: 44-0-20 8434 3739
Registered Office - Walmar House, 288-292
Regent Street, London W1R 5HF
Quinnox
EURL
Ferney Voltaire, France
13 Chemin de
Levant 01210
Tel: 33-450-407
576
Fax: 33-450-409
885
Quinnox
GmbH
Frankfurt, Germany
Paul Ehrlich
Strasse, 37-39 60596, Frankfurt Am Main
Tel: 49-171-7986647 / 4239208
Fax: 49-69-630
090 90
Quinnox
Consultancy Services Limited
Mumbai, India
Unit 170, SDF
VI, SEEPZ, Andheri (East), Mumbai 400 096
Tel: 91-22-2829
0100
Fax: 91-22-2829
1131
Pune, India
Nyati Millenium, C-1 Building, Survey No. 209,
Viman Nagar, Pune 411 014
Tel: 91-20-56090100
Bangalore, India
4th floor,
Tapasivi Arcade, Hosur Road, Silk Board Junction, Bangalore 560 076
Tel:
91-80-51255200
Fax:
91-80-51255299
Quinnox K. K.
Tokyo, Japan
6F, Nakamura
Building, 2-7-14 Shibuya, Shibuya-ku, Tokyo 150-0002
Tel:81-3 5464
5808
Fax: 81-3 5464
5818
Quinnox
Chile
Quinnox Agencia En Asesorias, programacion de
Sistemas informaticos. PDTE
Juan Antonio Rios
58 PISO 6 Santiago Chile
Tel: 6389048
Fax: 6389056
Form 8:
|
Name of the company |
QUINNOX CONSULTANCY SERVICES LIMITED |
|
Presented By |
Union
Bank of India, Juhu Tara Road Branch, Mumbai |
|
1) Date and description of instrument creating the change |
12.09.2005 General Term Loan Agreement [SD - 18] Term Loan agreement [SD - 19] Both the documents constitute a single charge. |
|
2) Amount secured by the charge/amount owing on the securities
of charge |
Rs.53.002 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 |
The borrower hypothecates and creates in favour of the bank
by way of first charge all those movable properties of the borrower meant or
intended for export such as developed software, in process, related items
etc.
All the tangible movable machinery and plant of the
borrower together with spares, tools and accessories and other movables, both
present and future, whether lying loose or in cases which are now lying or
stored in or upon or about the borrowers premises and godowns or wherever
else the same may be or be held by any party to the order or disposition of
the borrower relating to or pertaining to the borrowers works at Pune, Mumbai
and Bangalore |
|
4) Gist of the terms and conditions and extent and
operation of the charge. |
Term
loan amount : Rs.53.002 millions Repayment of instalments : commencing from October, 2006-11-07 Amount of Instalments Rs.1.262 millions Interest Tenure : 24 Interest
14.75 % p.a. with monthly rests |
|
5) Name and Address and description of the person entitled
to the charge. |
Union
Bank of India, Juhu Tara Road Branch, 27, Maneck Mahal, Juhu Tara Road, Santacruz – West Mumbai – 400049 |
|
6) Date and brief
description of instrument modifying the charge |
Memorandum for deposit of title deeds on 07.10.2005 |
|
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. |
The original charge dated 12.09.2005 for Rs. 53.002
millions has been modified by the creation of Equitable Mortgage by deposit
title deeds with the bank of company immovable properties commercial premises
bearing non. 101 & 102 and 201 & 202 admeasuring1156.5 sq. ft and
1112.9 sq. mtrs. On the first and second floor respectively in C – 1wing of
building known as Nyati Millenium situated at Viman Nagar, Pune, Maharashtra,
along with furniture, Fixture, fixture generators and parking spaces,
constructed on land bearing Survey No. 209/2, Village Lohegaon, Taluka
Haveli, Pune as security for the due repayment. To the bank of all amount
advanced or to be advanced, granted or to be granted by the Bank to the
company being term loan of Rs. 53.002 millions together with interest,
compound interest and or additional interest in case of default exchange
fluctuations, cost charges, expenses etc, and also for the facility that may
be granted from time to time. |
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.42.82 |
|
UK Pound |
1 |
Rs.80.01 |
|
Euro |
1 |
Rs.63.83 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
|
66 |
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 |
|