MIRA
INFORM REPORT
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Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
JIVA CONTROL TECHNOLOGIES PRIVATE LIMITED |
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Registered Office : |
# 24, 2ND Main, Opp. Dr. Modi Hospital Road, West of Chord Road,
Bangalore – 560 086, Karnataka |
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Country : |
India |
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Date of Incorporation : |
12.06.2006 |
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Com. Reg. No.: |
039684 |
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CIN No.: [Company
Identification No.] |
U34300KA2006PTC039684 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Importer, Exporter or otherwise deal in all kinds of
Automated control panels for machineries, Automation products, Turnkey
Projects of industrial Automation Products. |
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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Status : |
Small Company |
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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 but has not filed even its first financials
with the Government Register till date. The management parted general
information but declined to part with financials. Trade relations are fair.
Business is active. Payments are reported as slow but correct. In view of non – availability of financials, the company can be
considered for small to mediocre business dealings with slight caution,
initially. |
INFORMATION PARTED
BY (GENERAL DETAILS)
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Name : |
Mr. Raghavendra P. Inamdar |
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Designation : |
Director |
LOCATIONS
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Registered Office : |
# 24, 2nd Main, Opp. Dr. Modi Hospital Road, West of Chord
Road, Bangalore – 560 086, Karnataka |
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Tel. No.: |
91-80-23590713/ 23191163 |
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Fax No.: |
91-80-23191163 |
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E-Mail : |
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Website : |
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Area : |
1800 Sq. ft. |
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Location : |
Rented |
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Corporate Office
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795, 5th Main Road, 2nd Stage, Mahalakshmi
Puram, Off. Dr. Modi Hospital Road, Bangalore – 560 086, Karnataka, India |
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Tel. No.: |
91-80-23590713/ 23191163 |
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Fax No.: |
91-80-23191163 |
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Factory : |
No. 31st, Cross Vikas Linking Road, Nagasandra, Kenna Metal,
Post Bangalore - 560 073, Karnataka, India |
DIRECTORS
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Name : |
Mr. Raghavendra P. Inamdar |
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Designation : |
Director |
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Address : |
# 26, 1st Floor, 7th ‘A’ Main, CHBS Layout,
Vijaya Nagar, Bangalore – 560 040, Karnataka, India |
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Date of Birth/Age : |
23.06.1975 |
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Qualification : |
Electrical Engineer |
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Name : |
Mrs. Archana Venkatesh |
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Designation : |
Director |
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Address : |
# 24, 9th ‘A’ Cross, WCR, 2nd Stage, Gasaveshwar
Nagar, Nagapura, Bangalore – 560 079, Karnataka, India |
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Date of Birth/Age : |
02.09.1974 |
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Qualification : |
B.Sc. |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Raghavendra P Inamdar |
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10000 |
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Mrs. Archana Venkatesh |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Importer, Exporter or otherwise deal in all kinds of
Automated control panels for machineries, Automation products, Turnkey Projects
of industrial Automation Products. |
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Imports : |
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Products : |
· Japan · Germany |
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Terms : |
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Selling : |
Credit (30 days) |
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Purchasing : |
L/C – L/T |
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Services : |
· Systems Integration · Project Planning and Consulting · Machine and Line Retrofits · Embedded Solutions · Computer integrated manufacturing · Contract Automation Services · CAD and Documentation · Energy monitoring & management · Control Panel - Design & Build · Training - Automation Technologies |
GENERAL
INFORMATION
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Customers : |
Manufacturer |
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No. of Employees : |
40 |
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Bankers : |
Canara Bank, Rajaji Nagar |
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Facilities : |
Over Draft |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
·
K. G. Ramesh and Company Chartered Accountants ·
Nitin Madan Chartered Accountants |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000 |
Equity Shares |
Rs. 100/-
each |
Rs. 0.200
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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36.000 |
Expected Sales (2008-09) : Rs.50.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
·
TVS Motor and
Company
·
Motor
Industries Company – Bangalore, Nasik
Website Details Attached:
Factory automation is to continually reduce costs and making manufactured goods ever more economical. Engineering departments have been cut to the bone. Manufacturers have found that hiring a system integrator when needed is less costly than maintaining a large staff that is often underutilized.
Subject is a Bangalore based, industrial automation and
systems Integration Company established as single-source systems integration
and specialized software engineering services firm. Their staff provides
effective industrial automation solutions ranging from simple programming
modifications to complete turnkey systems to supply their client base with
unequalled value and service. As an automation system integrator they supply,
service and install automation products and software's, developed to meet IEC
and IEEE international standards.
It is their desire to expand their industrial customer base by providing basic
process control and factory automation services expanding to include enterprise
level business automation solutions in the near future in order to provide
complete systems integration. Their scope of work can include a wide variety of
consulting engineering and technical services focused on turnkey implementation
of DCS, CNC, PLC, AC/DC Drive based and customized computer based DAC system.
Experience:
Subject understands the challenges manufacturers face when assessing and
choosing automated equipment. Their years of experience give them an advantage
over their competition. Due to this experience, Subject's customers receive
superior automation solutions for their operations.
Commitment to their
Customers:
Subject's success is based on a reputation of being an automation company that provides both quality automation consulting services and equipment to its customers. Subject's promise and commitment when recommending or supplying equipment to a customer is that: "Subject will not recommend or supply a system to a customer that they would not be proud to have themselves." For the customer, this means that Subject will only offer solutions and systems of the highest quality, reliability, and durability.
A Company driven by
Principles:
Subject has carefully constructed a corporate environment
for change, innovation, creativity, challenge and achievement - perfectly
crafted for a company serving extraordinarily dynamic industries. Our
philosophy is simply to pursue excellence daily. This begins by hiring the very
best and training them daily to be excellent.
Each project, each employee and each customer relationship is an expression of
this pervasive pursuit of excellence:
- It defines their perception of integrity.
- It drives their focus on total customer satisfaction.
- It drives their highest values for respecting the dignity and achievements of individuals.
- It drives their aspirations for accelerated growth and their dedication to controlling and managing growth in a highly competitive, technology driven environment.
Subject is a company groomed for the dynamics of the 21st Century. And they
will persist in redefining performance by pursuing excellence (finding ways to
add value) for their customers every day.
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.43.17 |
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UK Pound |
1 |
Rs.86.46 |
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Euro |
1 |
Rs.68.68 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
- |
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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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17 |
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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