MIRA INFORM REPORT

 

 

Report Date :

09.02.2008

 

IDENTIFICATION DETAILS

 

Name :

NATELCO INFOTECH PRIVATE LIMITED

 

 

Registered Office :

44-B, Nariman Bhavan, Nariman Point, Mumbai – 400021, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

07.04.1971

 

 

Com. Reg. No.:

11-15099

 

 

CIN No.:

[Company Identification No.]

U32100MH1971PTC015099

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMN09682B

 

 

PAN No.:

[Permanent Account No.]

AAACJ1987G

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Importer of Tele Communication Products

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD 37000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is an old and established company having moderate track. Company’s profitability is under severe pressure losses. Payments are reported as slow and delayed.

 

The company can be considered for any business dealings on safe and secured trade terms and conditions. 

 

 

LOCATIONS

 

Registered Office :

44-B, Nariman Bhavan, Nariman Point, Mumbai – 400021, Maharashtra, India

Tel. No.:

91-22-22885866 / 40569999

E-Mail :

sales@natelcoinfotech.net

Website :

http://www.natelcoinfotech.net

Area :

1100 sq. ft. [Owned]

 

 

Technical Centre :

1st Floor, Shown Apartment, Veer Sawarkar Road, Anandnagar, Vasai (West), District : Thane - 401202

Tel. No.:

91-250-2335052

Fax No.:

91-250-2335052

Area :

900 sq. ft. [Rented]

 

 

Regional Offices :

South : 420, 1st Floor, 7th Cross, Domlur Layout, Bangalore - 560071
Tel. No. : 25356566, 25356567, 9886331645
Area : 900 sq. ft. [Rented]

 

East : 110/1/1C, Dr. L. M. Bhattacherjee Road, ( CIT Road ), Kolkata - 700014
Tel. No. : 22847101, 22847102, 9433015666.
Area : [1200 sq. ft.]

 

Madhya Pradesh : 1st  Floor, Bhatia Bhavan, Plot No.9, Zone 1, Maharana Pratap Nagar, Bhopal - 462011
Tel. No. 2577660, 9425005698.

Area : 600 sq. ft.

 

 

DIRECTORS

 

Name :

Mr. Prakash Bhurmal Jain

Designation :

Director

Address :

Manju Villa, 26 Vithal Nagar, Co-operative Housing Society, JVPD Scheme, Juhu, Vile Parle [West], Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

11.02.1951

Date of Appointment :

01.09.1994

Date of Ceasing :

15.12.2004

 

 

Name :

Mr. Jigar Prakash Jain

Designation :

Director

Address :

Manju Villa, 26 Vithal Nagar, Co-operative Housing Society, JVPD Scheme, Juhu, Vile Parle [West], Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

09.10.1973

Date of Appointment :

15.12.1995

Date of Ceasing :

30.12.2004

 

 

Name :

Mr. Ashok Sanghavi

Designation :

Director

Address :

201, Vishal Apartment, Janki Kutir, Juhu Parle West, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

02.02.1954

Qualification :

Graduate

Date of Appointment :

01.09.1994

 

 

Name :

Mr. Vikram Shah

Designation :

Director

Address :

301, Ratnashree Building, 60 Ft. Dr. Ambedkar Road, Bhayander [West], Thane – 401101, Maharashtra, India

Date of Birth/Age :

20.09.1972

Qualification :

Graduate

Date of Appointment :

30.12.2004

 

 

Name :

Mr. Bharat Sanghavi

Designation :

Director

Date of Birth/Age :

49 Years

Qualification :

Graduate

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

Names of Shareholders

 

No. of Shares

Kala Uttam Jain

 

775

Natelco Cellular Private Limited

 

1750

Bharat Sanghavi

 

725

Vishal Prakash Jain

 

1200

Chetan Prakash jain

 

79500

Pushpa Bharat Sanghavi

 

900

Peach Tree Investment Private Limited

 

2100

Realty Finance and Leasing Private Limited

 

1025

Avalon Investment Private Limited

 

600

Nova Teletech Private Limited

 

600

Ashok Keshrimal Sanghavi

 

825

Deepa Jigar Jain

 

1200

Total

 

91200

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Importer of Tele Communication Products

 

 

Imports :

 

Products :

Telecommunication Products

Countries :

USA

 

 

Terms :

 

Selling :

Credit [30-60 days]

 

 

GENERAL INFORMATION

 

Customers :

Cellular Companies

 

 

No. of Employees :

25

 

 

Bankers :
  • HDFC, Avra Centre, MIDC, Andheri [East]
  • Axis Bank, JVPD Scheme, Juhu 

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

S. K. Garg and Company

Chartered Accountants

Address :

Vashi, Mumbai

 

 

Associates/Subsidiaries :

Realty Finance and Leasing Private Limited

Address : 44-B, Nariman Bhavan, Nariman Point, Mumbai – 400021, Maharashtra, India

Activities : Property Work 

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

100000

Equity Shares

Rs. 100/- each

Rs. 10.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

91200

Equity Shares

Rs. 100/- each

Rs. 9.120 Millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2007

31.03.2006

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

9.120

9.120

2] Share Application Money

 

0.000

0.000

3] Reserves & Surplus

 

0.213

0.213

4] (Accumulated Losses)

 

0.000

0.000

NETWORTH

 

9.333

9.333

LOAN FUNDS

 

 

 

1] Secured Loans

 

0.138

0.523

2] Unsecured Loans

 

29.585

0.000

TOTAL BORROWING

 

29.723

0.523

DEFERRED TAX LIABILITIES

 

 

 

 

 

 

 

TOTAL

 

39.056

9.856

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

2.463

3.492

Capital work-in-progress

 

0.000

0.000

 

 

 

 

INVESTMENT

 

0.807

0.000

DEFERREX TAX ASSETS

 

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

7.170

5.745

 

Sundry Debtors
 

5.688

2.502

 

Cash & Bank Balances
 

0.511

1.934

 

Other Current Assets
 

0.048

0.051

 

Loans & Advances
 

143.964

117.777

Total Current Assets
 

157.381

128.009

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
 

134.978

132.490

 

Provisions
 

1.338

1.170

Total Current Liabilities
 

136.316

133.660

Net Current Assets
 

21.065

[5.651]

 

 

 

 

MISCELLANEOUS EXPENSES

 

14.721

12.015

 

 

 

 

TOTAL

 

39.056

9.856

 

PROFIT & LOSS ACCOUNT

 

PARTICULARS

 

 

31.03.2007

31.03.2006

Sales Turnover

 

14.106

20.826

Other Income

 

0.919

16.867

Total Income

 

15.025

37.693

 

 

 

 

Profit/(Loss) Before Tax

 

[2.546]

19.083

Provision for Taxation

 

0.159

0.154

Profit/(Loss) After Tax

 

[2.705]

18.929

 

 

 

 

Expenditures :

 

 

 

 

Purchases

 

6.884

8.138

 

Operating Expenses

 

9.862

9.337

 

Financial Expenses

 

0.056

0.084

 

Loss on sale of Fixed Assets

 

0.006

0.000

 

Depreciation & Amortization

 

0.764

1.052

Total Expenditure

 

17.572

18.611

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2007

31.03.2006

PAT / Total Income

(%)
 

[18.00]

50.22

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
 

[18.05]

91.63

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

[1.59]

14.51

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

[0.27]

2.04

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

17.79

14.38

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

1.15

0.96

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Trade Reference

 

 

 

Bankers Charges Report as per Registry

 

 

Name of the company

NATELCO INFOTECH PRIVATE LIMITED

Presented By

Shri Ashok Jain, Director

1) Date and description of instrument creating the change

Letter dated 28.07.1999 evidencing Mortgage by Deposit of Title Deeds

2) Amount secured by the charge/amount owing on the securities of charge

Rs. 111.600 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

Premises situated at A 4/B2, Natelco Centre, B-Cross Road, MIDC, Marol, Andheri [East], Mumbai – 400099

4) Gist of the terms and conditions and extent and operation of the charge.

As per the terms of letter evidencing deposit of Title Deeds dated 28.07.1999 the Company has created mortgage by deposit of title deeds in respect of the immovable property situated at A 4/B2, Natelco Centre, B-Cross Road, MIDC, Marol, Andheri [East], Mumbai – 400099 to secure the due repayment and discharge by the Company to the Housing and Urban Development Corporation Limited [HUDCO] of all moneys due and outstanding by the company under the Loan Assistance Scheme an all costs, charges and expenses incurred by HUDCO pursuant to and in connection with the said Loan Assistance together with interest / commission thereon at the agreed rate, liquidated damages, compound and / or additional interest, penalty interest, costs, charges and expenses and other moneys if any, payable by the Company to HUDCO in relation to the said Loan Assistance.    

5) Name and Address and description of the person entitled to the charge.

Housing and Urban Development Corporation Limited

Regional Office, Griha Nirman Bhavan, # 325, 2nd Floor, Bandra [East], Mumbai – 400051

6) Date  and brief description of instrument modifying the charge

N.A.

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.

N.A.

 

Fixed Assets

 

 

AS PER WEBSITE

 

NATELCO INFOTECH is an ISO 9002 certified company and they strongly believe in Innovation, Excellence, and Value. They are one of the communication leaders in the Indian Telecom market. NATELCO INFOTECH specifically caters to the present needs of Cellular Operators, Basic Service Providers, System Integrators and ISPs and they have an extended reach directly in 25 major Cities in India. The primary focus is on a consultative application oriented approach to identifying client needs and delivering customised solutions.

 

NATELCO INFOTECH headquartered in the business capital of India, Mumbai markets and supports the entire range of NATELCO's products in the Indian market. They also have strategic alliances with the world technology leaders like REMEC for their Tower Mount Amplifiers and Boosters and Adtran to market and support their entire range of products in India. A strong presence in the Indian market and tie-up with technology leaders help them to provide complete last mile connectivity solutions as well as solutions for the Backhaul.

 

NATELCO INFOTECH'S Primary business activities include :

 

 

The Company was the first to launch :

 

 

NATELCO INFOTECH markets and supports the entire range of products and services through its full fledged regional marketing and support offices located in the cities of Mumbai, Delhi, Kolkata, Bangalore, Gandhinagar and Bhopal. Also they have a full fledged service center located at Vasai ( outskirts of Mumbai ) to provide technical support to all their past and existing products.


NATELCO INFOTECH has been working very closely with most of the major telecommunication and value added service providers in the country in providing solution for the last mile connectivity as well as for their Backbone applications. They also have a long standing relationship with all the major Telecom, Basic Service providers and Cellular operators including System Integration companies and ISPs who have been using their equipments and services along with their telecom turnkey solutions.

 

 

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.39.55

UK Pound

1

Rs.76.85

Euro

1

Rs.57.27

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

1

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

-

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

1

--CREDIT LINES

1~10

1

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

20

 

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

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions