MIRA
INFORM REPORT
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Report Date : |
30.12.2008 |
IDENTIFICATION DETAILS
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Name : |
KRISHNA INFOSOLUTIONS PRIVATE LIMITED |
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Registered Office : |
B-2, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
17.11.2005 |
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Com. Reg. No.: |
55-142629 |
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CIN No.: [Company
Identification No.] |
U72200DL2005PTC142629 |
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PAN No.: [Permanent
Account No.] |
AADCK0662J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
To provide quality software,
hardware and internet based writing and research solutions. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 3 years old company having moderate track. Company’s profitability is under severe pressure and continues to incur losses. Payments are reported as slow at times. The company can be considered for small to mediocre business dealings with caution. |
LOCATIONS
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Registered Office : |
B-2, |
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E-Mail : |
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Corporate Office : |
Plot
No.29, Sector - 142, Noida – 201 301, |
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Mobile No.: |
91-9310150049 |
DIRECTORS
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Name : |
Mr. Alok Arora |
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Designation : |
Director |
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Address : |
J-123, Sector-41, Noida – 201 301, |
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Date of Birth/Age : |
25.03.1978 |
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Date of Appointment : |
17.11.2005 |
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Name : |
Mr. Rohit Arora |
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Designation : |
Director |
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Address : |
J-123, Sector-41, Noida – 201 301, |
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Date of Birth/Age : |
01.10.1982 |
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Date of Appointment : |
17.11.2005 |
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Name : |
Mr. Sanjay Gandhi |
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Designation : |
Director |
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Address : |
E-220, 2nd Floor, Amar Colony, Lajpat Nagar-IV,
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Date of Birth/Age : |
28.08.1972 |
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Date of Appointment : |
18.11.2005 |
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Name : |
Mrs. Sangeeta G |
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Designation : |
Director |
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Address : |
E-220, 2nd Floor, Amar Colony, Lajpat Nagar-IV,
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Date of Birth/Age : |
15.10.1975 |
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Date of Appointment : |
18.11.2005 |
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Name : |
Mr. Mukesh Goyal |
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Designation : |
Director |
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Address : |
688, Sector – 37, |
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Date of Birth/Age : |
07.12.1964 |
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Date of Appointment : |
19.06.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2007
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Names of
Shareholders |
No. of Shares |
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Alok Arora |
2000 |
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Rohit Arora |
2000 |
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Sanjay Gandhi |
2500 |
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Sangeeta Gandhi |
1500 |
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Mukesh Goyal |
2000 |
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Total |
10000 |
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Names of
Allottees |
No. of Shares |
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Alok Arora |
73500 |
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Rohit Arora |
126105 |
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Sanjay Gandhi |
304395 |
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Sangeeta Gandhi |
306000 |
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Mukesh Goyal |
725000 |
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72500 |
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Priya Mehra |
160000 |
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Veena Arora |
469500 |
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Ramesh Gandhi |
126000 |
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Poonam Goyal |
216000 |
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Total |
2579000 |
AS ON 30.09.2007
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
To provide quality software,
hardware and internet based writing and research solutions. |
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GENERAL INFORMATION
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Bankers : |
Allahabad Bank, Jawal Heri Market, Paschim Vihar, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Keshari Keshari and Company Chartered Accountants |
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Address 1 : |
A-105, Sector – 26, Noida – 201 301, |
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Address 2 : |
SF-57, Ansal Fortune Arcade, K-Block, Sector-18, Noida – 201 301, |
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Tel. No.: |
91-120-4312652/ 2521621 |
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Mobile No.: |
91-9810109647 |
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E-Mail : |
santosh_keshari@yahoo.com |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES
OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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(0.013) |
(0.007) |
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NETWORTH
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0.087 |
0.093 |
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LOAN FUNDS |
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1] Secured Loans |
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5.657 |
0.000 |
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2] Unsecured Loans |
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3.452 |
2.652 |
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TOTAL BORROWING
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9.109 |
2.652 |
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TOTAL
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9.196 |
2.745 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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9.132 |
0.000 |
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Capital work-in-progress
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0.000 |
0.000 |
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INVESTMENT
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0.000 |
0.000 |
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DEFERREX TAX ASSETS
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS &
ADVANCES
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Inventories
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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances
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0.059 |
0.090 |
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Other Current Assets
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0.000 |
2.646 |
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Loans & Advances
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0.000 |
0.000 |
Total Current Assets
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0.059
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2.736 |
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Less : CURRENT
LIABILITIES & PROVISIONS
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Current Liabilities
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0.000 |
0.000 |
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Provisions
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0.006 |
0.003 |
Total Current Liabilities
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0.006 |
0.003 |
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Net Current Assets
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0.053 |
2.733 |
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MISCELLANEOUS EXPENSES
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0.011 |
0.012 |
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TOTAL
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9.196 |
2.745 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Net Loss |
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(0.006) |
(0.007) |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
Return on Total Assets
(PBT/Total Assets}
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(%) |
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(0.07)
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(0.26) |
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Return on Investment (ROI)
(PBT/Networth)
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(0.07)
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(0.08) |
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Debt Equity Ratio
(Total Liability/Networth)
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104.77
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28.55 |
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Current Ratio
(Current Asset/Current Liability)
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9.83
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912.00 |
LOCAL AGENCY FURTHER INFORMATION
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This form is for |
Creation of
charge |
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Corporate identity
number of the company |
U72200DL2005PTC142629 |
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Name of the
company |
KRISHNA INFOSOLUTIONS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
B-2, |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
Allahabad Bank, Jawal Heri Market, Paschim Vihar, E-Mail: pvihar@allahabadbank.co.in |
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Nature of
description of the instrument creating or modifying the charge |
Term Loan
Agreement dated 26.02.2008 executed between company and Allahabad Bank, Paschim
Vihar, |
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Date of
instrument Creating the charge |
26.02.2008 |
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Amount secured by
the charge |
Rs.60.000
millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
BPLR + .05% i.e. 13.75% p.a. W.M.R. Terms of
Repayment: Monthly cheques rent for Property bearing No.29, Sector – 142, to
be deposited with Bank with stipulation that total 66 installments Margin: As per
sanction letter dated 22.02.2008 Extent and Operation
of the charge: Immovable property of the company Bearing No.29, Sector – 142,
Noida (U.P.) Others: Equitable
Mortgage of Property Bearing No. 29, Sector – 142, Noida (U.P.) being crated
in favour of Bank. |
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Date of instrument
creating or evidencing the charge |
26.02.2008 |
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Description of
the instrument creating evidencing the charge |
Term Loan
Agreement dated 26.02.2008 |
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Date of
acquisition of the property |
26.02.2008 |
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Amount of the
charge |
Rs.60.000 millions |
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Particulars of
the property charged |
Plot No. 29,
Sector – 142, Noida (U.P.) along with super structure |
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Short particulars
of the property charged |
Lease hold rights
in respect of Plot of Land bearing No. 29, Sector – 142, Noida , along with
building structure. |
Performance:
During the year the company commended its operations. The working of the
company during the year resulted in Net Loss of Rs.0.006 million and (Previous Year
Net Loss Rs.0.007 million). The directors have decided not to recommend any
dividend during the year.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.76 |
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1 |
Rs.71.68 |
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Euro |
1 |
Rs.69.17 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
1 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
1 |
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--CREDIT LINES |
1~10 |
1 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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16 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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