MIRA
INFORM REPORT
|
Report Date : |
25.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PERIPHERAL
SOLUTIONS PRIVATE LIMITED |
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|
|
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Registered Office : |
301-303, ABC
Complex, 20, Veer Savarkar Block, Shakarpur, New Delhi – 110
019 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
13.03.1995 |
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Com. Reg. No.: |
55-66265 |
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CIN No.: [Company
Identification No.] |
U74899DL1995PTC066265 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELP09348D |
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PAN No.: [Permanent
Account No.] |
AAACP4953A |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Dealer of
Computers Peripherals |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 24450 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established dealer of computers peripherals. Directors are reported as experienced
and respectable businessmen. Trade relations are fair. Business is active.
Payments are reported as usually correct and as per commitments. The company
can be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
301-303, Shivam
Complex, 20, Veer Savarkar Block, Shakarpur, New Delhi – 110
019, India |
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Tel. No.: |
91-11-22519088/
22420141 |
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Mobile No.: |
91-9811032836 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. Taposh
Chatterjee |
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Designation : |
Whole Time
Director |
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Address : |
G-1300, 1st
Floor, Chitranjan Park, New Delhi – 110 019, India |
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Date of Birth/Age : |
13.08.1965 |
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Election Commission Identity Card No. |
DL/01/001/009229 |
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Date of Appointment : |
13.03.1995 |
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|
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Name : |
Mr. Pawan
Waleacha |
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Designation : |
Whole Time
Director |
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Address : |
160A, Pocket – I,
Mayur Vihar, Phase-I, Delhi – 110 091, India |
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Date of Birth/Age : |
16.09.1967 |
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Date of Appointment : |
13.03.1995 |
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Name : |
Ms. Bharati
Waleacha |
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Designation : |
Whole Time
Director |
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Address : |
160A, Pocket – I,
Mayur Vihar, Phase-I, Delhi – 110 091, India |
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Date of Birth/Age : |
07.05.1973 |
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Date of Appointment : |
01.12.2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 27.09.2005
|
Names of
Shareholders |
|
No. of Shares |
|
|
|
|
|
Mr. Taposh
Chatterjee |
|
65800 |
|
Mr. Pawan
Waleacha |
|
79000 |
|
Mr. M K
Chatterjee |
|
10900 |
|
Ms. Preeti Juneja
|
|
1700 |
|
Ms. Geeta Trehan |
|
800 |
|
Ms. Bharati
Waleacha |
|
41800 |
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Mr. Prem Kumar
Waleacha |
|
20000 |
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|
|
|
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Total: |
|
220000 |
Equity Share Break Up As On 29.09.2007
|
Particulars |
Percentage |
|
Directors or Relatives of Directors |
100.00 |
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Total: |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer of
Computers Peripherals |
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Products : |
Computer Peripherals |
GENERAL
INFORMATION
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No. of Employees : |
25 persons |
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Bankers : |
Bank of India,
Vikas Marg, Delhi – 110 092, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Tiwari and Associates (Chartered Accountant) |
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Address : |
1st Floor, Sewak Bhavan, Abdul Aziz Road, 16/2, Wea Karol
Bagh, New Delhi-110005, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
220000 |
Equity Shares |
Rs.10/- each |
Rs.2.200
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.200 |
1.800 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
2.690 |
2.130 |
1.622 |
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|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
4.890 |
3.930 |
2.622 |
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|
LOAN FUNDS |
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|
|
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1] Secured Loans |
1.623 |
2.528 |
0.105 |
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2] Unsecured Loans |
1.229 |
0.764 |
1.594 |
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TOTAL BORROWING |
2.852 |
3.292 |
1.699 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.026 |
0.000 |
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TOTAL |
7.742 |
7.248 |
4.321 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.538 |
1.011 |
0.695 |
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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 |
19.150
|
13.035 |
7.182 |
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Sundry Debtors |
18.303
|
14.359 |
11.844 |
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Cash & Bank Balances |
0.246
|
0.111 |
0.049 |
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Other Current Assets |
1.834
|
0.972 |
0.058 |
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Loans & Advances |
0.429
|
0.205 |
0.205 |
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Total
Current Assets |
39.962
|
28.682 |
19.338 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
|
|
|
Current Liabilities |
33.766
|
22.437 |
15.696 |
|
|
Provisions |
0.027
|
0.027 |
0.016 |
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Total
Current Liabilities |
33.793
|
22.464 |
15.712 |
|
|
Net Current Assets |
6.169
|
6.218 |
3.626 |
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MISCELLANEOUS EXPENSES |
0.035 |
0.019 |
0.000 |
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TOTAL |
7.742 |
7.248 |
4.321 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
|
195.998 |
165.554 |
|
Other Income |
|
0.000 |
0.000 |
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Total Income |
|
195.998 |
165.554 |
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|
|
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Profit/(Loss)
Before Tax |
|
0.917 |
0.560 |
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Provision for
Taxation |
|
0.000 |
0.000 |
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Profit/(Loss)
After Tax |
|
0.917 |
0.560 |
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|
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Total Expenditure |
|
195.081 |
164.994 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
NA
|
0.46 |
0.33 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
|
0.46 |
0.33 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
3.08 |
2.79 |
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Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.23 |
0.21 |
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Debt Equity Ratio (Total Liability/Networth) |
|
7.49
|
7.56 |
7.64 |
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Current Ratio (Current Asset/Current Liability) |
|
1.18
|
1.27 |
1.23 |
LOCAL AGENCY
FURTHER INFORMATION
Form No.8
Bankers Charges
Report as per Registry
|
Name of the
company |
PERIPHERALS
SOLUTIONS PRIVATE LIMITED |
|
Presented By |
Bank of India, Vikas
Marg, Delhi – 110 092, India |
|
1. Date and
description of the instrument creating or evidencing the charge
|
21.12.2001 –
Registered on 10.01.2002 agreement |
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2. Amount secured
by the charge /amount owing on security of the charge |
Rs. 0.800
millions |
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3. Short
Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be
given
|
Hypothecation and
charge to the bank by way of charge all the book debts, outstanding monies,
receivables, claims and bills which are now due and owing or which may at any
time hereafter during the continuance of the security become due and owing to
the borrower in the course of its business by any person, company or by the
Government or any local or public body or authority. |
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4. Gist of the
terms and conditions and extent and operation of the charge. |
The interest on
cash credit (hypothecation of book debts) limit of Rs. 0.800 millions shall be
charge at the rate of 4% over BOI PLR subject to a minimum of 16% p.a. with
quarterly rests or at such other rate as may be specified by the bank fro
time to time. Margin: 40% Payable : on
demand |
|
5. Names, address
and description of the persons entitled to charge |
Bank of India,
Vikas Marg, Delhi – 110 092, India |
|
6. Date and brief
description of instrument modifying the charge |
28.11.2005 Supplemental
agreement of hypothecation of book debts Previously modified
on 20.12.2001, 1.05.2002, 11.12.2003 and finally against modified on
11.12.2003 to enhance the limit from Rs. 0.800 millions to Rs. 2.000 millions
and for change in terms and conditions and modified registration 31.12.2003 |
|
7. Particular of
modification specifying the terms and conditions or the extent
or operation of the charge in which modification is made and the details of modification |
The enhanced cash
credit (hypothecation of book debts) limit of Rs. Rs. 3.500 millions shall
also be collaterally secured by hypothecation of all tangible movable
property including in particular stock of Monitors, Printers, Hard Discs,
Floppy Drive, Mother Boards, CD Rom Drives Key Boards, CPU, etc. whether now
lying or at any time hereinafter during the continuance of this security
lying or being in or about the borrower’s premises including those in
transit. Other terms and
conditions remained the same. |
|
Name of the
company |
PERIPHERALS SOLUTIONS
PRIVATE LIMITED |
|
Presented By |
Bank of India,
Vikas Marg, Delhi – 110 092, India |
|
1. Date and
description of the instrument creating or evidencing the charge
|
21.12.2001 –
Registered on 10.01.2002 agreement |
|
2. Amount secured
by the charge /amount owing on security of the charge |
Rs. 0.800
millions |
|
3. Short
Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be
given
|
Hypothecation and
charge to the bank by way of charge all the book debts, outstanding monies,
receivables, claims and bills which are now due and owing or which may at any
time hereafter during the continuance of the security become due and owing to
the borrower in the course of its business by any person, company or by the
Government or any local or public body or authority. |
|
4. Gist of the
terms and conditions and extent and operation of the charge. |
The interest on
cash credit (hypothecation of book debts) limit of Rs. 0.800 millions shall
be charge at the rate of 4% over BOI PLR subject to a minimum of 16% p.a.
with quarterly rests or at such other rate as may be specified by the bank
fro time to time. Margin: 40% Payable : on
demand |
|
5. Names, address
and description of the persons entitled to charge |
Bank of India,
Vikas Marg, Delhi – 110 092, India |
|
6. Date and brief
description of instrument modifying the charge |
28.11.2005 Supplemental agreement
of hypothecation of book debts Previously
modified on 20.12.2001, 1.05.2002, 11.12.2003 and finally against modified on
11.12.2003 to enhance the limit from Rs. 0.800 millions to Rs. 2.000 millions
and for change in terms and conditions and modified registration 31.12.2003 |
|
7. Particular of
modification specifying the terms and conditions or the extent
or operation of the charge in which modification is made and the details of modification |
The enhanced cash
credit (hypothecation of book debts) limit of Rs. Rs. 3.500 millions shall
also be collaterally secured by hypothecation of all tangible movable
property including in particular stock of Monitors, Printers, Hard Discs,
Floppy Drive, Mother Boards, CD Rom Drives Key Boards, CPU, etc. whether now
lying or at any time hereinafter during the continuance of this security
lying or being in or about the borrower’s premises including those in
transit. Other terms and
conditions remained the same. |
|
This form is for |
Creation of
charge |
|
Charge
identification number of the modified
|
|
|
Corporate
identity number of the company |
U74899DL1995PTC066265 |
|
Name of the
company |
PERIPHERAL
SOLUTIONS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in India of the company |
301-303, Shivam
Complex, 20 Veer Saverkar Block Shakerp, New Delhi-110092, India |
|
Type of charge |
Others |
|
Particular of
charge holder |
CIN
:U72900MH2001PLC132441 Name: 3i Infotech
Trustership Services Limited Address:3rd
to 6th Floor, International Infotech Park, Tower No. 5, Vashi
Railway Station Complex, Vashi, Navi Mumbai-400703, Maharashtra, India Email: Prashant.Joshi@3i-Itsl.Com |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
hypothecation |
|
Date of
instrument Creating the charge |
08.02.2008 |
|
Amount secured by
the charge |
Rs.3.000 millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of interest: 2.75% p.a below
the sum of the ICICI Bank Benchmark Advance rate and the cash Credit Riak
premium prevailing on each day that the loan remains outstanding, plus applicable
interest tax or other statutory levy, if any. Extent and
operation of the charge: Hypothecation for
all credit card receivables of M/S peripheral Solutions Private Limited,
present and future. Others: The above is to
secure the over draft limit sanctioned by ICICI bank Limited |
|
Short particulars
of the property charged |
All credit card
receivables of M/S Peripheral Solutions Limited, present and future |
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.41.96 |
|
UK Pound |
1 |
Rs.83.78 |
|
Euro |
1 |
Rs.65.82 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|