MIRA INFORM REPORT
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Report Date : |
03.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
KNOWLEDGE INFRASTRUCTURE SYSTEMS PRIVATE LIMITED |
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Registered Office : |
A 2/22, Safadarjung Enclave, New Delhi – 110 029, Delhi |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
21.11.2003 |
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Com. Reg. No.: |
55-123166 |
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CIN No.: [Company
Identification No.] |
U80903DL2003PTC123166 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELK06416E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader and Importer of Coal |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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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 190000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established trader in coal. It has a strong capital
base. Trade relations are fair. Payments are usually correct and as per
commitments. Nothing adverse reported. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Ravi |
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Designation : |
Manager |
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Contact No.: |
91-9818454533 |
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Date : |
02.07.2008 |
LOCATIONS
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Registered Office : |
A 2/22, Safadarjung Enclave, New Delhi – 110 029, Delhi, India |
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Tel. No.: |
91-11-41651071 – 73 |
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Mobile No.: |
91-9818454533 |
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Fax No.: |
91-11-41651074 |
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E-Mail : |
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Location : |
Owned |
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Branch Office : |
Located at Nariman Point, Mumbai |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Rahul Bhandare |
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Designation : |
Director |
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Address : |
C-109, South Ext – II, New Delhi – 110 049, Delhi, India |
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Date of Birth/Age : |
11.12.1963 |
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Qualification : |
Graduate |
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Date of Appointment : |
20.11.2003 |
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Name : |
Mrs. Namita Bhandare |
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Designation : |
Director |
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Address : |
C-109, South Ext – II, New Delhi – 110 049, Delhi, India |
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Date of Birth/Age : |
19.02.1963 |
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Date of Appointment : |
20.11.2003 |
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Name : |
Mr. Vipin Mahajan |
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Designation : |
Director |
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Address : |
C-9/282, Yamina Vihar, Delhi – 110 053, Delhi, India |
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Date of Birth/Age : |
01.05.1966 |
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Qualification : |
B.Com. |
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Date of Appointment : |
22.09.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 29.09.2005)
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Names of Shareholders |
No. of Shares |
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Rahul Bhandare |
5000 |
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Namita Bhandare |
5000 |
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Total |
10000 |
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Names of Allottees |
No. of Shares |
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Rahul Bhandare |
1232500 |
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Bimal Desai |
10000 |
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Dharminder Singh |
5000 |
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Manali Singhal |
10000 |
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Atul Agarwal |
10000 |
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Ramakant Desai |
1000 |
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Namita Bhandare |
21500 |
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Sanjay Poddar |
10000 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
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Category |
Percentage |
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Directors or relatives of directors |
97.33 |
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Other top fifty (50) shareholders |
2.67 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and Importer of Coal |
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Exports : |
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Products : |
Coal |
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Countries : |
Dubai |
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Imports : |
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Products : |
Coal |
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Countries : |
·
Indonesia ·
South Africa |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
Credit – 30 days |
GENERAL
INFORMATION
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No. of Employees : |
70 (In Office 50 and In Branches 20) |
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Bankers : |
·
Standard Chartered Bank Credit Risk Control, Nariman Manzil, 23, Barakhamba
Road, New Delhi – 110 001, Delhi, India ·
HDFC Bank Nariman Point, Mumbai, Maharashtra,
India
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Banking Relations
: |
Satisfactory |
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Auditors : |
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Name : |
R. S. Sanghvi and Company Chartered Accountants |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1350000 |
Equity Shares |
Rs.10/- each |
Rs.13.500
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
13.500 |
0.500 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
24.120 |
0.062 |
0.012 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
37.620 |
0.562 |
0.112 |
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LOAN FUNDS |
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1] Secured Loans |
0.034 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
3.525 |
0.263 |
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TOTAL BORROWING |
0.034 |
3.525 |
0.263 |
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DEFERRED TAX LIABILITIES |
0.233 |
0.015 |
0.000 |
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TOTAL |
37.887 |
4.102 |
0.375 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
14.479 |
0.172 |
0.057 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
374.661
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0.000 |
0.000 |
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Sundry Debtors |
367.901
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4.562 |
0.000 |
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Cash & Bank Balances |
146.083
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0.127 |
0.040 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
179.071
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0.526 |
2.117 |
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Total
Current Assets |
1067.716
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5.215 |
2.157 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
1044.311
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1.292 |
0.149 |
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Provisions |
0.000
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0.000 |
1.700 |
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Total
Current Liabilities |
1044.311
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1.292 |
1.849 |
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Net Current Assets |
23.405
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3.923 |
0.308 |
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MISCELLANEOUS EXPENSES |
0.003 |
0.007 |
0.010 |
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TOTAL |
37.887 |
4.102 |
0.375 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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27.76
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8.57 |
18.86 |
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Current Ratio (Current Asset/Current Liability) |
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1.02
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4.04 |
1.17 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References :
·
Tata Power, Mumbai
·
Mahajan Company, Mumbai
·
Ring (Vishakhapattnam)
Form No. 8
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Corporate
identity number of the company |
U80903DL2003PTC123166 |
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Name of the
company |
KNOWLEDGE INFRASTRUCTURE SYSTEMS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
A 2/22, Safadarjung Enclave, New Delhi – 110 029, Delhi, India |
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This form is for |
Creation of
charge |
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Type of charge |
·
Book debts ·
Others |
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Particular of
charge holder |
Standard Chartered Bank Credit Risk Control, Nariman Manzil, 23, Barakhamba Road, New Delhi –
110 001, Delhi, India |
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Nature of
instrument creating charge |
Unattested Memorandum
of Hypothecation |
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Date of
instrument Creating the charge |
26.05.2008 |
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Amount secured by
the charge |
Rs.520.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
Interest As per Agreement ·
Terms of
repayment As per Agreement ·
Margin As per Agreement ·
Extent and
operation of the charge As per Agreement ·
Others As per Agreement |
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Particulars of
the property charged |
Hypothecation by way
of first Pari Passu charge over Stocks and Book-Debts of the Company stored
or to be stored at Company’s Godowns and Premises or whereverelse the same
may be. |
News
Knowledge Infra to acquire 50% stake in Indonesian coalmine
Rahul Wadke
Mumbai, Nov. 27
Knowledge
Infrastructure Systems Pvt Ltd, a privately-held coal trading company, will be
acquiring 50 per cent stake in an Indonesian coalmine by December.
The company will
be able to supply 9 million tonnes of coal per annum post-February 2008 and has
right to mine 40 mt of coal.
The mine is
located in east Kalimantan, Indonesia’s second largest province. In the same
province Tata Power Company (TPC) also has major mining interest. In March, TPC
had signed a $1.1-billion (Rs 4,950 crore) deal to buy 30 per cent stake in two
Indonesian coalmine companies.
More projects
Knowledge
Infrastructure has been in business for over five years and has a turnover of
over Rs 1,000 crore. Its annual coal trading volume is 4 mt.
Talking to Business
Line, Mr Rahul Bhandare, Managing Director, said that the current stake
could be up scaled to 25 mt in a few years depending on market conditions. “We
are not only looking at exporting coal to India but also to China, Japan and
other Asian countries,” he said.
Mr Bhandare said
that the company has already in place long-term coal supply contracts with
Athena Power Projects for supplying 4 mt per annum of coal for its 1,200-MW
project and for supply of 2 mt of coal to OPG Power Generation Pvt Ltd,
Chennai. Another contract is currently under negotiations for supplying 4 mt of
coal to another power plant, he said.
Mr Bhandare said
that the company has also tied up with MSTC Ltd, a PSU, for developing imported
coal business. Jointly, the companies are developing business models, which
will involve supplying imported coal to Indian collieries, he said.
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.43.34 |
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UK Pound |
1 |
Rs.86.53 |
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Euro |
1 |
Rs.68.54 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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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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54 |
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 |
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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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