MIRA
INFORM REPORT
|
Report Date : |
26.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
THIRD WAVE SERVICES PRIVATE LIMITED |
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Registered Office : |
123, B Central Avenue, Sainik
Farms, New Delhi – 110 062 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
27.07.1999 |
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Com. Reg. No.: |
55-100861 |
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CIN No.: [Company
Identification No.] |
U74220DL1999PTC100861 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELT05695E |
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PAN No.: [Permanent
Account No.] |
AABCT3575F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Provider of Engineering
Services. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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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 69000 |
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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 and reputed company having satisfactory
track. 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. |
INFORMATION PARTED
BY
|
Name : |
Mr. Varun Kapoor |
|
Designation : |
Director |
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Contact No.: |
91-9911101234 |
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Date : |
07.05.2008 |
LOCATIONS
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Registered Office : |
123, B Central Avenue, Sainik
Farms, New Delhi – 110 062, India |
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Tel. No.: |
91-99111-01234 |
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Fax No.: |
91-11-29551974 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branch Office1
: |
30/1 Ashoka Road, Windsor Apartments, Shipra Suncity, Indrapuram, Ghaziabad, India |
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Tel. No.: |
91-120-2275953 |
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Fax No.: |
91-98910-91988 |
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Branch Office
2 : |
S-24 Community Center,
Mayapuri Industrial Area, Phase-1, New Delhi, India |
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Tel. No.: |
91-11-39556335 |
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Fax No.: |
91-98910-91988 |
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Branch Office
3 : |
U-25/12, Towne House, DLF Phase-III, Gurgaon, Haryana,
India |
DIRECTORS
|
Name : |
Mr. Anil Kapoor |
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Designation : |
Director |
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Address : |
123, B Central Avenue, Sainik
Farms, New Delhi – 110 062, India |
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Date of Birth/Age : |
23.05.1959 |
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Date of Appointment : |
01.09.2000 |
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Name : |
Mr. Vaibhav Kapoor |
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Designation : |
Director |
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Address : |
123-B, Central Avenue , Sainik Farms, New Delhi -110 062,
India |
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Date of Birth/Age : |
19.09.1986 |
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Date of Appointment : |
13.04.2006 |
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Name : |
Mrs. Manju Kapoor |
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Designation : |
Director |
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Address : |
123-B, Central Avenue , Sainik Farms, New Delhi -110 062,
India |
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Date of Birth/Age : |
16.08.1960 |
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Date of Appointment : |
13.04.2006 |
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Name : |
Mr. Naresh Kumar |
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Designation : |
Director |
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Date of Birth/Age : |
01.05.1957 |
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Date of Appointment : |
13.04.2006 |
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Name : |
Mr. Dinesh
Manchanda |
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Designation : |
Director |
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Address : |
Flat No. 82, unique Apartment, Plot No. 2, Rohini, sector
– B, New Delhi – 110 055, India |
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Date of Birth/Age : |
12.03.1969 |
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Date of Appointment : |
15.05.2006 |
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Name : |
Mr. Pankaj Kapoor |
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Designation : |
Director |
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Date of Birth/Age : |
09.08.1961 |
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Date of Appointment : |
13.04.2006 |
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Name : |
Mr. Praveen Arora |
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Designation : |
Director |
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Address : |
B-170, 2nd Floor, Shivalika, malviyanagar, new
Delhi – 110 017, India |
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Date of Birth/Age : |
08.11.1969 |
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Date of Appointment : |
13.04.2006 |
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Name : |
Mr. Sudhir Chopra |
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Designation : |
Director |
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Address : |
F -4/16, Model Town, Delhi – 110 009, India |
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Date of Appointment : |
15.05.2003 |
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Name : |
Mrs. Ritu Singh |
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Designation : |
Director |
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Address : |
22, Murari Puram, Garh Road, Meerut, India |
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Date of Appointment : |
15.05.2003 |
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Name : |
Mr. Varun Kapoor |
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Designation : |
Director |
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Address : |
123, B Central Avenue, Sainik
Farms, New Delhi – 110 062, India |
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Date of Birth/Age : |
03.03.1984 |
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Date of Appointment : |
20.03.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
|
Names of Shareholders |
No. of Shares |
|
Mr. Sudhir Chopra |
10 |
|
Mr. Rajan Sampat
Sundara |
10 |
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Mr. Nagnath Lathi
Srinivas |
10 |
|
Mr. Anil Kapoor |
58000 |
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Mrs. Manju Kapoor
|
58000 |
|
Mr. Varun Kapoor |
21425 |
|
Mrs. Ritu Naresh |
4500 |
|
Mr. Dinesh
Nanchanda |
18150 |
|
Mr. Vaibhav
Kapoor |
21425 |
|
Mr. Naresh Sharma
|
10 |
|
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|
Total |
181540 |
Equity Shares Breakup
(Percentage of Total Equity): (as on 31.03.2007):-
|
Category |
Percentage |
|
Directors or relative of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Provider of Engineering
Services. |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
150 |
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Bankers : |
·
ICICI
Bank · Bank of Baroda Basant Gaon, New Delhi – 110
057, India |
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Facilities : |
Bank of Baroda - Rs. 1.800 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Chetan Goel and
Company Chartered
Accountants |
|
Address : |
1-115, IInd
Floor, Kirti Nagar, New Delhi – 110 015, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
181540 |
Equity Shares |
Rs. 10/- each |
Rs. 1.815
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
181540 |
Equity Shares |
Rs. 10/- each |
Rs. 1.815 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 |
1.815 |
1.815 |
0.965 |
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|
2] Share Application Money |
2.619 |
1.779 |
1.175 |
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|
3] Reserves & Surplus |
9.383 |
2.844 |
1.033 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
13.817 |
6.438 |
3.173 |
|
|
LOAN FUNDS |
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1] Secured Loans |
8.581 |
5.592 |
0.000 |
|
|
2] Unsecured Loans |
0.600 |
0.500 |
0.271 |
|
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TOTAL BORROWING |
9.181 |
6.092 |
0.271 |
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DEFERRED TAX LIABILITIES |
0.058 |
0.098 |
0.000 |
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|
|
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|
|
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TOTAL |
23.056 |
12.628 |
3.444 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
19.913 |
13.329 |
2.498 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.200 |
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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|
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Inventories |
0.363 |
0.000 |
0.000 |
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Sundry Debtors |
7.414 |
1.761 |
1.260 |
|
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Cash & Bank Balances |
3.433 |
0.788 |
0.357 |
|
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Other Current Assets |
4.175 |
1.740 |
1.541 |
|
|
Loans & Advances |
6.757 |
0.553 |
0.000 |
|
Total
Current Assets |
22.142
|
4.842
|
3.158 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
17.450 |
5.014 |
2.106 |
|
|
Sundry Creditors |
1.753 |
0.535 |
0.114 |
|
|
Provisions |
0.000
|
0.000
|
0.000 |
|
Total
Current Liabilities |
19.203 |
5.549 |
2.220 |
|
|
Net Current Assets |
2.939 |
[0.707] |
0.938 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.004 |
0.006 |
0.008 |
|
|
|
|
|
|
|
|
TOTAL |
23.056 |
12.628 |
3.444 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
149.913 |
50.614 |
15.280 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income |
149.913 |
50.614 |
15.280 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
9.912 |
3.009 |
1.021 |
|
|
Provision for Taxation |
3.373 |
1.054 |
0.269 |
|
|
Profit/(Loss) After Tax |
6.539 |
1.955 |
0.752 |
|
|
|
|
|
|
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Expenditures : |
|
|
|
|
|
|
Depreciation & Amortization |
2.582 |
0.836 |
0.199 |
|
|
Other Expenditure |
137.419 |
46.769 |
14.060 |
|
Total Expenditure |
140.001 |
47.605 |
14.259 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
4.36
|
3.86 |
4.92 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.61
|
5.94 |
6.68 |
|
|
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|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.45
|
16.55 |
18.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.71
|
0.47 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.05
|
1.81 |
0.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15
|
0.87 |
1.42 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References :
·
Shipra Estate Limited – Ghaziabad
·
BPTP Limited – Faridabad
·
AEZ Limited - Kolkata
FORM 8:
|
Name of the
company |
THIRD WAVE
SERVICES PRIVATE LIMITED |
|
Presented By |
Bank of Baroda, Basant Gaon, New Delhi -110 057, India |
|
1) Date and description
of instrument creating the change |
Form No. LDOC 17-
Instrument of hypothecation of goods dated 20.01.2006 |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 1.486
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 |
If the property acquired is subject to charge
date of acquisition of property
should be given Equitable mortgage
of residential property situated at flat No. ASH -30/01 at Shipra Sun City –
II, Indrapuram, Ghaziabad , Uttar Pradesh having in the name of the company. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest @ 10.50% p.a at present with monthly rest subject to change
the charge as per bank guidelines from time to time. Margin: 40% Repayment: On demand subject to review after 12 months. |
|
5) Name and Address
and description of the person entitled to the charge. |
Bank of Baroda, Basant Gaon, New Delhi – 110 057, India |
|
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 |
|
Corporation identity number or foreign company registrations number of
the company |
U74220DL1999PTC100861 |
|
Name of the company |
THIRD WAVE
SERVICES PRIVATE LIMITED |
|
Address |
123, B Central Avenue, Sainik
Farms, New Delhi – 110 062, India |
|
This Form is for |
Modification of charge |
|
Type of Charges |
·
Immovable
Property · Movable Property |
|
Particular of the charge holder
|
Bank of Baroda Basant Gaon, New Delhi – 110 057, India E-0Mail: ca_ecg@yahoo.co.in |
|
Nature or description of the instrument creating charge |
Supplemental Memorandum Entry dated 23.05.2007 and instrument of
hypothecation of goods together with pronote dated 23.05.2007 |
|
Date of the instrument creating charge |
23.05.2007 |
|
Amount Secure by the charge |
Rs. 1.870 millions |
|
Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : @ 0.50% p.a below BPLR of the Bank with a minimum of 12.75% p.a at
monthly rests. Terms of repayment: Payable of demand Margin: 40% Extent and Operation of the charge: 100% Others: To secure all amounts payable under enhanced Overdraft (Baroda Trader
Loan) facility of Rs. 1.870 millions granted to the company. |
|
Short particulars of the Property charged |
Hypothecation of stock all goods belonging to the company now lying or
hereafter stored at company premises at New Delhi or at any other places including those in transit Equitable mortgage of immovable properties of the company situated at 30/1,
Flat No. 30, Shipra Sun City – II, Indrapuram, Ghaziabad , Uttar Pradesh,
India |
Websites details:
Overview:
The company alongwith it's Associate concerns
have an experience of more than 23 years in design, installation, operation / maintenance
of DG Set based captive power plants, HT / LT electrical installations,
electric distribution, water supply / fire fighting / sewage pumping
installations, water supply distribution, water treatment plants, DG set
installations, fire detection and fire alarm, CCTV and PA system, EOT cranes
and lifts etc.
They have earned an acclaim of their clients due to their quest for
quality, speedy service, expertise and integrity. They are well experienced,
having engineering background and equipped with necessary tools and testing
equipments in the field of operation and maintenance of diverse utilities /
facilities at the property. They also have association with panel of experts
from specialised disciplines for special and occasional reference on retainership
basis.
SERVICES
·
Under Ground Cable Fault Location
·
Testing and Calibration Of Relay
·
Repair
§
Ht/Lt Electrical
and Mechanical Equipment
§
Repair
Overhauling and Servicing Of D.G Sets
§
Repair
Of Pumping Sets Of All Kinds
§
Repair
Of Transformers
§
Repair
/ Rewinding Of Electric Motors/ Ac Generators
-
Fuel Quality and Lube Oil Testing
-
Testing Of Dielectric Strength Of Transformer Oil
Operation
Maintenance
Maintenance is defined in BS.3811 as:
The main aim of asset maintenance is:
·
To
preserve an asset and services in good operating condition.
·
To
restore the damages and keep the asset to its original standards, and
·
To
improve the infrastructure depending upon the development with the modern
trends.
Maintenance work relating to any asset mainly consists of repairs,
replacements and periodic preventive maintenance.
Management of Preventive Maintenance
The purpose of preventive maintenance or periodical maintenance is to
increase the life of building, minimize the day to day repairs and attendance.
In fact routine maintenance and periodical / preventive maintenance of
buildings are inversely related to each other. Better the preventive
maintenance, less the routine maintenance required.
Planning for
Preventive Maintenance:
Following steps will help in proper planning of preventive maintenance
works-
·
All
preventive maintenance works should be listed with the time frame of their execution
initially at the beginning of year.
·
For
Preventive maintenance, a register should be maintained and each activity
should be listed with an index. The record of maintenance should be maintained
with important items of entries with cost and other details.
·
Display
board with details of activity and time planning should be kept up to date to
ensure proper maintenance.
·
In
case any preventive maintenance work is to be carried out inside a residential
flat or inside an office room, it is desirable to give a prior notice to the
occupant about the work to be done and its duration so as to enable him to make
necessary adjustment. A complete report of the work should be obtained from the
user.
·
All
safety precautions with necessary signals should be maintained.
·
Preventive
maintenance work should be organized in such manner that it does not result in
complete disruption of user’s normal life / movement is not jeopardized.
Time for Various
Preventive Maintenance Works:
Time for various preventive maintenance works should be so planned that
it is most effective and least discomforting to occupants. Painting work should
be avoided during rainy / sewear winter season. The most ideal period is summer
/autumn and for cement based paint, rainy season is preferred. Similarly
bitumen works for road should be avoided in rainy, sewear winter season and
should be planned for summer.
Management of Routine Maintenance Works
Steps in attending Civil Complaints
·
Maintenance
Supervisor attends to the complaint register twice a day in the morning and in
the afternoon. The complaints will also be entered in the job card.
·
Supervisor
distributes the job cards to the respective workmen for attending the
complaints.
·
Workmen
collect necessary materials from the store after authorization from supervisor
.
·
Workman,
after attending the complaint gets the job card signed by the occupant/user and
returns it to Maintenance Supervisor.
·
Workman
after completing the work returns the balance material in the store after
informing the Maintenance Supervisor. Maintenance Supervisor enters the details
of materials in the stock register.
·
Supervisor
makes necessary entries in Complaint Register about date of completion of the
complaints along with his signature and remarks if any.
·
For any
problems in attending some particular complaints, Maintenance Supervisor brings
it to the notice of who issues necessary intimation slips to the occupant /
user .
·
A
service centre with complaint register should be located at a central place
where the occupants can register their complaints. The centre should be manned
by an experienced supervisor
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.82 |
|
UK Pound |
1 |
Rs.84.27 |
|
Euro |
1 |
Rs.66.62 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
52 |
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 |
|