MIRA
INFORM REPORT
|
Report Date : |
15.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
CREATIVE PERIPHERALS AND DISTRIBUTION PRIVATE LIMITED |
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Registered Office : |
20, Babu Building, 375/377, Lamington Road, Mumbai – 400 007,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
22.09.2004 |
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Com. Reg. No.: |
11-148754 |
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CIN No.: [Company
Identification No.] |
U52392MH2004PTC148754 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC13031E |
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PAN No.: [Permanent
Account No.] |
AACCC5396G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer and Dealer of Computer Hardware and Peripherals |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 87000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track. Trade relations are fair. Business is active. No complaints have been
heard. The company can be considered good for normal business dealings. |
INFORMATION
DECLINED BY
|
Name : |
Mr. Mitesh Shah |
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Designation : |
Accountant |
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Date : |
12.12.2008 |
LOCATIONS
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Registered Office : |
20, Babu Building, 375/377, Lamington Road, Mumbai – 400 007,
Maharashtra, India |
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Tel. No.: |
91-22-23822222 |
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Mobile No.: |
91-9987784006/ 998774005 |
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Fax No.: |
91-22-23804045 |
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E-Mail : |
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Website : |
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Head Office : |
Pune Branch 621, Shaniwar
Peth, Near Narayan Peth Police Station, Pune - 400130 Tel : 9520 –
32514015 Mobile :
9326989013 e-mail : pune@ecreativeindia.com Contact : Manish
Tantia Gujarat Branch 30,Balaji
Avenue, Opposite Swaminarayan Mandir, Judges Bungalow Road, Premchandnagar
Road, Vastrapur, Ahmedabad – 380015. Tel.
:91-9328171204, 9879049707 e-mail : gujarat@ecreativeindia.com Contact : Sandip
Shah Bangalore Branch
78; 4th Main; 3rd
Floor, Thayaganagara, Bangalore- 560028 Mobile : 91-9900231717 Contact : :
Sanjay Baindur Hyderabad 27 H; 3 -7 - 25
B; Vijaya Nagar Colony, Picket, Hyderabad, A P - 540026. Gurgaon Branch B- 471; 1st
Floor, Nehru Ground, N I T, Faridabad. |
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Warehouse : |
Panvel Shop # 6' Stand View Building, Lokmanya Nagar, Behind S.T. Depo,
Panvel:- 410206 Tel.: 27450349 Mobile : 91-9324170234, 9987784024 Contact : Dharmendra Thakkar |
DIRECTORS
|
Name : |
Mr. Ketan C. Patel |
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Designation : |
Director |
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Address : |
A – 7, Nimesh Kunk CHS., S.V.P. Road, Borivali (West), Mumbai – 400
092, Maharashtra, India |
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Date of Birth/Age : |
01.08.1970 |
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Date of Appointment : |
22.09.2004 |
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DIN or Income-tax PAN : |
00127633 |
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Name : |
Mr. Vijay K. Advani |
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Designation : |
Director |
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Address : |
203, Picnic Cottage, Savera One, J.P. Road, Andheri (West), Mumbai –
400 061, Maharashtra, India |
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Date of Birth/Age : |
24.01.1966 |
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Date of Appointment : |
30.01.2006 |
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DIN or Income-tax PAN : |
02009626 |
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Name : |
Ms. Purvi Patel |
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Designation : |
Director |
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Address : |
A – 7, Nimesh Kunk CHS., S.V.P. Road, Borivali (West), Mumbai – 400
092, Maharashtra, India |
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Date of Birth/Age : |
19.01.1971 |
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Date of Appointment : |
22.09.2004 |
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Date of Ceasing : |
09.06.2005 |
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Name : |
Mr. Mehul Kangalwala |
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Designation : |
Director |
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Address : |
D – 3, Dwarkesh Apartment, L.T. Raod, Borivali (West), Mumbai – 400
092, Maharashtra, India |
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Date of Birth/Age : |
04.01.1972 |
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Date of Appointment : |
01.06.2005 |
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Date of Ceasing : |
31.01.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 29.09.2007
|
Names of Shareholders |
No. of Shares |
|
Ketan C. Patel |
485000 |
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Purvi Patel |
14800 |
|
Mehul Kangalwala |
100 |
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Vijay K. Advani |
100 |
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Total |
500000 |
As on 29.09.2007
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Equity Share Breakup |
|
Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Importer and Dealer of Computer Hardware and Peripherals |
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GENERAL
INFORMATION
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Customers : |
CORPORATES
LARGE FORMAT
RETAILS
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No. of Employees : |
87 |
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Bankers : |
New India Co-Operative Bank Limited, Kartar Mansion, 35, Tribhuvan
Road, Girgaum, Mumbai – 400 004, Maharashtra, India |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
S.K. Thanawala and Company Chartered Accountants |
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Address : |
140/ 142, Princess Street, Govind Building, 2nd Floor,
Mumbai – 400 002, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
5.000 |
5.000 |
5.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
12.392 |
4.576 |
1.798 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
17.392 |
9.576 |
6.798 |
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LOAN FUNDS |
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1] Secured Loans |
24.601 |
21.333 |
0.614 |
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2] Unsecured Loans |
1.548 |
6.005 |
4.567 |
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TOTAL BORROWING |
26.149 |
27.338 |
5.181 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.014 |
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TOTAL |
43.541 |
36.914 |
11.993 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.261 |
1.358 |
1.608 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.050 |
0.050 |
0.050 |
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DEFERREX TAX ASSETS |
0.027 |
0.005 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
41.187
|
18.411 |
27.480 |
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Sundry Debtors |
103.227
|
72.180 |
35.445 |
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Cash & Bank Balances |
1.511
|
2.110 |
2.413 |
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Other Current Assets |
2.156
|
2.031 |
1.849 |
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Loans & Advances |
11.038
|
5.492 |
3.308 |
|
Total
Current Assets |
159.119
|
100.224 |
70.495 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Current Liabilities |
117.938
|
64.748 |
57.545 |
|
|
Provisions |
0.000
|
0.000 |
2.644 |
|
Total
Current Liabilities |
117.938
|
64.748 |
60.189 |
|
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Net Current Assets |
41.181
|
35.476 |
10.306 |
|
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MISCELLANEOUS EXPENSES |
0.022 |
0.025 |
0.029 |
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TOTAL |
43.541 |
36.914 |
11.993 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
681.311 |
460.874 |
322.928 |
|
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Other Income |
2.795 |
4.696 |
2.808 |
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Total Income |
684.106 |
465.570 |
325.736 |
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Profit/(Loss) Before Tax |
12.597 |
4.898 |
2.735 |
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Provision for Taxation |
4.803 |
1.956 |
0.925 |
|
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Profit/(Loss) After Tax |
7.794 |
2.942 |
1.810 |
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Expenditures : |
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Cost of Goods Sold |
662.258 |
428.129 |
316.067 |
|
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Administrative Expenses |
26.986 |
19.187 |
13.333 |
|
|
Increase/(Decrease) in Finished Goods |
(22.776) |
9.069 |
(10.023) |
|
|
Financial Expenses |
2.833 |
2.642 |
2.420 |
|
|
Director’s Remuneration |
1.536 |
1.212 |
0.900 |
|
|
Depreciation & Amortization |
0.672 |
0.433 |
0.304 |
|
Total Expenditure |
671.509 |
460.672 |
323.001 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
1.14
|
0.63 |
0.56 |
|
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Net Profit Margin (PBT/Sales) |
(%) |
1.85
|
1.06 |
0.85 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.80
|
4.82 |
3.79 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.72
|
0.51 |
0.40 |
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Debt Equity Ratio (Total Liability/Networth) |
|
8.28
|
9.62 |
9.62 |
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|
|
|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
1.55 |
1.17 |
LOCAL AGENCY
FURTHER INFORMATION
|
Name of the company |
CREATIVE PERIPHERALS AND DISTRIBUTION PRIVATE LIMITED |
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Presented By |
New India Co-Operative Bank Limited, Girgaum, Mumbai – 400 004 |
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1) Date and description of instrument creating the change |
Agreement for
Hypothecation of Stocks and Book Debts to secure Cash Credit facility dated
08.08.2005. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.18.000 millions |
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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 |
1. All the
present and future, Stock as per statement submitted with the aforesaid
agreement of the Borrower. 2. All the
present and future, Book Debts, as per statement submitted with the aforesaid
agreement of the Borrower. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
To secure due repayment
of Cash Credit facility granted by the Bank to the Borrower. 1. Rate of
Interest: 13% p.a. 2. Margin: Stock
– 40% Book Debts – 50% |
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5) Name and Address and description of the person entitled to the charge. |
New India Co-Operative Bank Limited, Girgaum, Mumbai – 400 004,
Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
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This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U52392MH2004PTC148754 |
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Name of the
company |
CREATIVE PERIPHERALS AND DISTRIBUTION PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
20, Babu Building, 375/377, Lamington Road, Mumbai – 400 007,
Maharashtra, India |
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Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
New India Co-Operative Bank Limited, Kartar Mansion, 35, Tribhuvan
Road, Girgaum, Mumbai – 400 004, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement for Hypothecation
of Stock and Book Debts to secure cash credit facility. |
|
Date of
instrument Creating the charge |
19.02.2007 |
|
Amount secured by
the charge |
Rs.27.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
11.5% p.a. Terms of
Repayment: As may be decided, from time to time, by the Bank Margin: As may be
decided, by the Bank Extent and
Operation of the charge: To secure the due repayment of Cash Credit facility of
Rs.27.000 million granted by the Bank to the Company. |
|
Short particulars
of the property charged |
|
FINANCE:
The management conveys to the members for their co-operation by way of unsecured
loans advanced to the company and to the Banker for their support and expects
continuous support in the future.
WEBSITE
DETAILS:
PROFILE:
Subject a company incorporated in 1992 with just
three people is a Rs.720 million organization today employing over 87
people and having total of 3 group companies. They are a leading Hardware and
Service vendor in the city having office at Lamington Road in South Mumbai
and branch offices at Borivali, Pune, Ahmedabad, Valsad (Gujarat) and Vasai.
Also having billing Locations at Delhi, Bangalore, Kolkata, Chennai, Noida,
Gurgoan, Hyderabad and Goa. For a focused business approach and to serve the
customers better, they have divided the activities between 3 companies.
Subject is the flagship company of the group
headed by Mr. Ketan Patel who is a qualified engineer having over 14 years of
experience in the IT industry.
They mainly cater to the needs of
Distributions, Large Format Retail, OEM and Corporate market segments with
value added services.
BIT-TECH SERVICES
Bit-Tech service is the repairs and service arm
of the group and is headed by Mr. Mahesh Advani who is an engineer by
qualification, having experience of over 9 years of chip level repairing.
It is an authorized nationwide service
centre for Microsoft Hardware as well as for Epson printers in the Mumbai
region.
This service centre is well equipped with
latest state-of-the-art equipments and has a fleet of well-trained and
efficient engineers.
Bit-Tech services is presently providing
services for SMPS, Stabilizers, Mother Boards, Add on cards, FDD’s, HDD’s
Memory modules, Modems, Note Book PCs, Printers, Desktops and also take up AMC
for machines.
K.P. ENTERPRISES
K.P. Enterprises is an on-site support and
maintenance arm of the group which is again controlled and administered by Mr.
Mahesh Advani with over 9 years of experience in PC support and maintenance.
They have well trained team of engineers to
provide on-site support for Computers and Peripherals to end customers. The
company mainly caters to SOHO and SME segment.
PRODUCTS
They are the Regional Distributors in
Western India for AOC, world’s largest display manufacturer company. AOC is a
registered trademark of TPV Technology Limited (TPV) - The world’s largest manufacturer
of computer monitors having sold more than 40 million units in 2006 hence
garnering a world market share of around 27%.
They are the Regional Distributors in
Western India for Computer Associates which is the 3rd largest software company
in the world after Microsoft and Oracle Corporation. Its software and expertise
unify and simplify complex IT environments in a secure way across the
enterprise for greater business results. Founded in 1976, CA today is a global
company with headquarters in the United States and 150 offices in more than 45
countries. They serve more than 98% of Fortune 1000® companies, as well as
government entities, educational institutions and thousands of other companies
in diverse industries worldwide.
They are the distributors in Mumbai for
Epson, the World leaders in impact printing. EPSON, which is part of SEIKO
EPSON CORPORATION, Japan, is a Total Digital Imaging Solutions company. It
manufactures the entire range of input and output imaging devices like inkjet
printers and dot matrix printers.
They are the Regional Distributors in
Western India for Microsoft Hardware and Microsoft Software (FPP). They also
deal into the entire range of Xbox 360 consoles, accessories and games.
They are the Distributors in Western and
Southern Mumbai for India’s No.1 CDMA Tele solution provider and also the
Preferred Internet Service Provider. Reliance Communications is setting new
standards for the world to follow through inventive use of cutting-edge
technologies. The mass roll out of broadband being carried out by Reliance
Communications across the length and breadth of the country, offering speeds of
up to 100 Mbps to millions of users, in itself is a technological marvel.
They are the Distributors in Northern and
Eastern Mumbai (Andheri (E) upto Virar) for India’s No 1 and most preferred
Internet Service Provider. This unique solution helps to connect to the
internet using the very cost effective dial up solution. Experience super- fast
Internet from Tata Indicom Broadband. High – speed Tata Indicom Broadband is
brought to you by VSNL – the people who introduced in India.
They are Distributors for Transcend External
Storage. Transcend has always been a customer driven company focusing efforts
on providing the highest quality products with attentive after sales service
and support that ensures total customer satisfaction. Their extensive product
portfolio has grown to include over 2,000 memory modules of every type, flash
memory cards, USB pen drives, portable HDDs, multimedia products, graphics
cards and accessories.
They are the Sole Distributor in Mumbai for
the entire range of their Networking Products. ZyXEL solutions boast the
latest, hottest networking features such as Triple Play, Quality of Service (QoS),
Network Security and Network Management. Both corporate and home users can take
advantage of ZyXEL products and services to enjoy high quality, versatile media
applications in a secure and manageable networking environment.
ACHIEVEMENTS
The vision is to be India’s no 1 value added
retail distributor and to build an organisation most prefered by vendors and
customers.
These awards are a reflection of all the
efforts taken to pursue the Vision and the Motto.
They are Microsoft aggregators and are the
highest sellers of their hardware in all India and the largest seller in Asia.
They were awarded the reseller of the year award for the years 2002 to 2006.
They
have been the highest seller and star performer for Epson printers on an all
India basis throughout the years 2001 to 2006.
They
are AOC Monitors Regional Distributors and have received Highest Sales Award
for the year 2006.
They
have received an award for highest sales achievement in scanners on a national
level from Canon.
MICROSOFT
Wireless Notebook Presenter Mouse 8000
Wireless Entertainment Desktop 8000
AOC
2217PWC : 22” Wide TFT Monitor
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.48.71 |
|
UK Pound |
1 |
Rs.72.85 |
|
Euro |
1 |
Rs.64.70 |
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 |
|