MIRA INFORM REPORT

 

 

 

Report Date :

26.07.2008

 

IDENTIFICATION DETAILS

 

Name :

MEGASOFT INFORMATION SYSTEMS PRIVATE LIMITED

 

 

Registered Office :

23 Ground Floor, Shreenath II, N M Link Road, Mulund East, Mumbai – 400081, Maharashtra

 

 

Country :

India

 

 

Date of Incorporation :

12.07.1996

 

 

Com. Reg. No.:

11-101001

 

 

CIN No.:

[Company Identification No.]

U72200MH1996PTC101001

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMM14488F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Stocks and goods consisting office equipment such as softwares, severs, desktop, nodes, printers, fax machine, colors TVs, cameras, EPABX 16 lines, UPS, mother bands, Hard disks, cables and cords, spares and other accessories, office furniture and fixtures with air conditioners. The property is not acquired subject to any charge.    

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Defunct Company

 

 

Comments :

The company appears to be a ‘Defunct Company’ since it filed to comply regulatory compliance.

 

It can be regarded for any business dealings on safe and secured trade terms and conditions.

 

Efforts to contact management failed as no telephone number found on Company’s name.  

 

 

LOCATIONS

 

Registered Office :

23 Ground Floor, Shreenath II, N M Link Road, Mulund East, Mumbai – 400081, Maharashtra, India 

Tel. No.:

91-22-25339553

E-Mail :

jhdsc_2006@rediffmail.com

 

 

Corporate Office :

A – 203, Jagruti Apartment, Kalwa Naka, Thane – 400605

 

 

DIRECTORS

 

Name :

Mr. Dinesh Bhoja Shetty

Designation :

Director

Address :

A-13, Crmson Glory, Gard Enrose Colony, LBS Marg, Kurla [West], Mumbai – 400070, Maharashtra, India 

Date of Birth/Age :

17.10.1969

Date of Appointment :

12.07.1996

 

 

Name :                                

Mr. Asghar Abhas Naqui

Designation :

Director

Address :

A/7, 2/3 Mangal Deep Housing Society Sector 14, Airoli, Navi Mumbai – 400605, Maharashtra, India

Date of Birth/Age :

18.08.1971

Date of Appointment :

10.07.2002

 

 

Name :

Mr. Jibhkare G Madhukar

Designation :

Director

Address :

A-102, Dinkar Apartments, Near Anmol Depot, Chrai, Thane – 400605, Maharashtra, India

Date of Birth/Age :

27.09.1970

Date of Appointment :

01.04.2004

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

Names of Shareholders

 

No. of Shares

 

Mr. Dinesh Bhoja Shetty

 

334

Mr. Asghar Abhas Naqui

 

333

Mr. Jibhkare G Madhukar

 

333

Total

 

1000

 

 

BUSINESS DETAILS

 

Line of Business :

Stocks and goods consisting office equipment such as softwares, severs, desktop, nodes, printers, fax machine, colors TVs, cameras, EPABX 16 lines, UPS, mother bands, Hard disks, cables and cords, spares and other accessories, office furniture and fixtures with air conditioners. The property is not acquired subject to any charge.    

 

 

GENERAL INFORMATION

 

Bankers :

Shivkrupa Sahakari Patpedhi Limited,

Suryadarshan Tower,

A Wing, 1 Floor,

E. E. Highway,

Thane [West] – 400604

 

 

 

Banking Relations :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

25000

Equity Shares

Rs. 100/- each

Rs. 2.500 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

1000

Equity Shares

Rs. 100/- each

Rs. 0.100 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

Since incorporation of the company in year 1996, no financials are available.

 

The company can be regarded as defunct company. 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

 

Bankers Charges Report as per Registry

 

 

Name of the company

MEGASOFT INFORMATION SYSTEMS PRIVATE LIMITED

Presented By

Shivkrupa Sahakari Patpedhi Limited

1) Date and description of instrument creating the change

09.03.2000 Deed of hypothecation in respect of stocks and goods of the company.

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

Rs. 2.500 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

Stocks and goods consisting office equipment such as softwares, severs, desktop, nodes, printers, fax machine, colors TVs, cameras, EPABX 16 lines, UPS, mother bands, Hard disks, cables and cords, spares and other accessories, office furniture and fixtures with air conditioners. The property is not acquired subject to any charge.    

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

The loan amount is to be paid in 84 months with 14 % interest of 2 % will be charged. 

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

Shivkrupa Sahakari Patpedhi Limited, Suryadarshan Tower, A Wing, 1 Floor, E. E. Highway, Thane [West] – 400604

6) Date  and brief description of instrument modifying the charge

NA

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.

NA

 

 

 

 

 

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.42.23

UK Pound

1

Rs.83.88

Euro

1

Rs.66.41

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

-

OPERATING SCALE

1~10

-

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

-

--PROFITABILIRY

1~10

-

--LIQUIDITY

1~10

-

--LEVERAGE

1~10

-

--RESERVES

1~10

-

--CREDIT LINES

1~10

-

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--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

NO

TOTAL

 

2

 

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