MIRA
INFORM REPORT
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Report Date : |
22.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
E-SIKSHA 21 SOLUTIONS |
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Registered Office : |
SF 8 City Building, No. 13 Infantry Road, Bangalore – 560001,
Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2004 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business : |
The concern was initially into E-learning [Educational] field. However
since 2007, they have diversified into providing services to Companies /
Institutions in the area of Housekeeping, as well as Bill Processing. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 1600 |
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Status : |
Small concern |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern into e – learning activities, and
recently diversified into housekeeping activities. Trade relations are fair.
Business is active. Payments are reported as slow but correct. The concern can be considered for small to mediocre business dealings
with slight caution initially. No clean credit can be granted. |
LOCATIONS
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Registered Office : |
SF 8 City Building, No. 13 Infantry Road, Bangalore – 560001,
Karnataka, India |
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Tel. No.: |
91-80-41130971 |
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Mobile No.: |
91-9845667114 |
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E-Mail : |
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Website : |
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Area : |
750 sq. ft. [Rented] |
PARTNERS
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Name : |
Mr. Balasubramanian Venkatraman |
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Designation : |
Partner |
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Date of Birth/Age : |
58 Years |
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Name : |
Mr. Mami Rajeswaran |
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Designation : |
Partner |
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Date of Birth/Age : |
45 Years |
BUSINESS DETAILS
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Line of Business : |
The concern was initially into E-learning [Educational] field. However
since 2007, they have diversified into providing services to Companies /
Institutions in the area of Housekeeping, as well as Bill Processing. |
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Terms : |
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Selling : |
Credit [15-25 days] |
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Purchasing : |
Cash and Carry |
GENERAL
INFORMATION
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Suppliers : |
Metro Cash and Carry – Bangalore |
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Customers : |
Areva – Chennai and Kolkata Office |
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No. of Employees : |
5 |
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Bankers : |
Centurion Bank of Punjab, Infantry Road, Bangalore 560001 |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
K. V. Sundar Chartered Accountants |
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Address : |
Bangalore, Karnataka, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.400 Million |
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Borrowed : |
-- |
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Total : |
Rs. 0.400 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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2.200 |
1.900 |
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Profit/Loss for the year |
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Around 10 to 15
% |
Around 10 to 15
% |
Average value of inventories at any given time : Rs. 0.005 Million
Expected Sales (2007-08) : Rs.3.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
Profile
Subject is the gateway to the
learning needs in the 21st century. They partner with the best in class
universities and offer consulting services intended to provide
learning solutions that are designed to suit the needs. They enhance innovative
learning through a right blend of people, technology, resources and process.
They also have other services to
enhance education of the children and cater to the investment needs as well.
They have tied up Universities 21
global to provide MBA degree online. Universities 21 global is a consortium of
16 internationally reputed universities and Thomson learning.
About EPTI
EPTI of Ireland, a representation
of the Edith Cowan University offers degree and post graduate courses
for students. The degree certificate is conferred by the Edith Cowan
university of Australia.
About Abacus
They have partnered with GEFMAT, a
leading Abacus education provider to provide training on Abacus to children in
the age group of 6-14 years.
Abacus, a chinese method of
teaching mathematics is well proven to sharpen the skills of the child to
enhance the brain and set discipline in the child from a very young age.
Life Insurance
They also provide assistance to
consult and provide the best life insurance plan that suits the family needs
through METLIFE.
e-learning is a learning solution for people who still
want to pursue studies without comprising their job. It includes computer-based
learning, web-based learning, and virtual classrooms or chat rooms.
Instructor-led courses often include some form of technology-based training to
give learners both hands-on training and easy access to the instructor's expertise.
e-Learning draws on the power of computers to offer a rich
variety of multimedia elements and integral interactivity.
Advantages of e-Learning
The main advantages of e-learning are as described under.
ACCESSIBILITY
Except for courses requiring proprietary access, e-Learning courses are easily
accessible on a 24/7 basis. e-Learners can proceed through a course at their
own pace at a time that is convenient. Much e-Learning is developed so that
learners can access a series of lessons as needed, so learning is incremental
(Just-In-Time), convenient, and timesaving.
CROSS-PLATFORM
Developers can make e-Learning courses readable on all platforms using browsers
without creating separate programs for each platform. This minimizes
development time and maximizes access by learners
TIME & TRAVEL SAVINGS
By making e-Learning readily available via the internet,
intranet, or CD, learners can schedule training so that it does not interfere
with other responsibilities.
Learners also do not have to travel to a distant training site, resulting in
decreased travel costs per learner and additional time savings.
SCALABILITY
Because most e-Learning courses are built using templates,
new material can be added fairly quickly. Graphics, voiceover, movies, or
animations can enhance existing text-based courses or simple page-turners,
minimizing the cost of creating new lessons from scratch.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.38 |
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UK Pound |
1 |
Rs.76.90 |
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Euro |
1 |
Rs.57.27 |
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 |
36 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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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27 |
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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