MIRA
INFORM REPORT
|
Report Date : |
28.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
QUADSEL SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
37/3 Parankushapuram Street, Kodambakkam, Chennai – 600024, Tamilnadu |
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Country : |
India |
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Financials (as
on) : |
31.03.2007 |
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Date of
Incorporation : |
27.04.1995 |
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Com. Reg. No.: |
031143 |
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CIN No.: [Company Identification
No.] |
U72300TN1995PTC031143 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
CHEQ02019D |
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PAN No.: [Permanent Account No.] |
AAACQ0129P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading in Computer Hardware |
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 10000 |
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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 : |
This time, management denied business and financial details. Subject is an established company in its field. Trade relations are fair. Payments are usually correct and as per
commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
|
Registered Office / Factory : |
37/3 Parankushapuram
Street, Kodambakkam, Chennai – 600024, Tamilnadu, India |
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Tel. No.: |
91-44-28205111 /
28205767 / 28265343 |
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Mobile No.: |
91-9841016631 |
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Fax No.: |
91-44-28265343 |
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E-Mail : |
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Website : |
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Corporate
Office : |
Old No. 9, New
No. 4, Avenue Road, Shanthi Building, First Floor, Nungambakkam, Chennai –
600034 |
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Tel. No.: |
91-44-2820 5161 / 2820 5767 |
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Mobile No.: |
91-9841016631 |
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Fax No.: |
91-44-2826 5343 |
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E-Mail : |
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Website : |
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Branches: |
Hyderabad Address: Plot No. 106, Jyothi
Colony, No.108, Bazar Road, Trimulgherry, Secunderabad - 500 009 Phone : 040 - 2774 3722 E-mail: marketing.hyd@quadsel.in Bangalore Trivandrum Address: "Surabhi", TC 4/501-1, House No.2, Sree
Vilas Lane, Kowdiar PO, Trivandrum -
695 003 |
DIRECTORS
|
Name : |
Mr. Girish
Madhavan |
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Designation : |
Director |
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Address : |
17,
Parankushapuram Street, Kodambakkam, Chennai – 600024, Tamilnadu, India |
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Date of Birth/Age : |
27.08.1969 |
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Date of Appointment : |
27.04.1995 |
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Name : |
Mr. Dhanamani
Madhavan |
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Designation : |
Director |
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Address : |
17,
Parankushapuram Street, Kodambakkam, Chennai – 600024, Tamilnadu, India |
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Date of Birth/Age : |
06.11.1935 |
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Date of Appointment : |
27.04.1995 |
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Name : |
Mr. Ramesh Girish
Mdhavan |
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Designation : |
Director |
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Address : |
17,
Parankushapuram Street, Kodambakkam, Chennai – 600024, Tamilnadu, India |
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Date of Birth/Age : |
08.12.1979 |
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Date of Appointment : |
05.04.2001 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
[As on 30.09.2005]
|
Names of
Shareholders |
|
No. of Shares |
|
Mr. Girish
Madhavan |
|
500 |
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Mr. Dhanamani
Madhavan |
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500 |
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Equity Share
Break-up [As on 31.03.2007] |
|
Percentage of
Holding |
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Directors or relatives of the Directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in
Computer Hardware |
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Products : |
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GENERAL
INFORMATION
|
Customers : |
Manufacturing v
Araham
Plastics v
Bmf Beltings
Limited v
Durr India
Private Limited v
Dujodwala
Products Limited v
Dhandapani
Exports v
Fenner India
Limited v
John Crane
Engineered Sealing Systems Limited v
Kothari Petro
Chem's Limited v
Kothari Sugars
& Chemicals Private Limited v
Nok-Freudenberg
v
Phc
Manufacturing Private Limited v
Rmc Readymix (
India ) v
Reliance
Industries Limited v
Reliance Power
Limited v
Reliance
Infocom v
Himachal Futuristic
Communications Limited v
Bharati
Infotel Limited(Airtel) v
Soft Beverages
v
Igp Engineers v
Oriflame India
Private Limited v
Hindalco
Industries Limited v
Foster Wheeler
v
National
Oxygen v
Kappa
Electricals v Colambia Sports Software v
Akshaya
Software v
Technologies
Limited., v
Blue Shift
India Limited v
California
Software Limited v
Insyst
Business Solutions v
Rajasri
Systems Private Limited v
Pride
Solutions v
Object
Frontier Software Private. Limited v
Calfornia
Advanced Management Services Private. Limited v
Sudhan
Software Solutions v
Cygnus
Software Private Limited v
Value Source
Technologies v
Gamzen
Software Private Limited v Macmillan India Limited Financial Services v
I I T Capital
Services Limited v
Kothari
Pioneer Amc Limited v
Prema Swaroopa
v The Investment Trust Ofindia Logistics v
Agil Freight
Logistics Private Limited v
Skypak
Couriers v
Overnite
Express Limited v A.S. Transport Limited Others v Mafoi Management Consultants Limited v Radha Park Inn International v The Times Of India Group v Business Intelligence Unit (Ril) v H.C Kothari Group Of Company's v World Vision India v Vikas Publications Limited v Alcatel Limited v South India Corporation v (Agencies) Limited v
Sify v
Gemini Tv
Private. Limited v
Mrf Limited v
Meenakshi
College v
Gupta & Company
v
Biomines
Research v
Solutions
Private. Limited v
Vinayaka It
Park v
Cambro India
Limited v
Karvy
Consultants Limited v Icici Infotech |
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Bankers : |
·
Indian
Overseas Bank Nungamabkkam
Branch, Nugambakkam, Chennai - 600034 ·
UCO Bank Puraawalkam
Branch, No. 14, Chennai 600007, Tamilndu, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sudhindran and Company Chartered Accountants |
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Address : |
G/1, Kesari Kuteeram No. 27, West Cott Road, Royapettah, Chennai
600014, Tamilnadu, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.200 Million |
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]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.924 |
1.466 |
1.111 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.024 |
1.566 |
1.211 |
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LOAN FUNDS |
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1] Secured Loans |
6.375 |
0.335 |
0.426 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
6.375 |
0.335 |
0.426 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
.0.000 |
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TOTAL |
8.399 |
1.901 |
1.637 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.249 |
0.996 |
1.158 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
3.500 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.061 |
0.039 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
10.946
|
7.546 |
1.836 |
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Sundry Debtors |
75.967
|
19.724 |
12.298 |
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Cash & Bank Balances |
1.173
|
0.428 |
0.575 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
2.271
|
0.768 |
1.205 |
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Total
Current Assets |
90.357
|
28.466 |
15.913 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
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Current Liabilities |
86.318
|
27.122 |
14.641 |
|
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Provisions |
0.450
|
0.478 |
0.793 |
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Total
Current Liabilities |
86.768
|
27.600 |
15.434 |
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Net Current Assets |
3.589
|
0.866 |
0.479 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.00 |
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TOTAL |
8.399 |
1.901 |
1.637 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2007 |
|
Sales Turnover [Estimated] |
|
|
400.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
46.01
|
17.84 |
13.09 |
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Current Ratio (Current Asset/Current Liability) |
|
1.05
|
1.04 |
1.03 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
|
Corporate
identity number of the company |
U72300TN1995PTC031143 |
|
Name of the
company |
QUADSEL SYSTEMS
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
37/3
Parankushapuram Street, Kodambakkam, Chennai – 600024, Tamilnadu |
|
This form is for |
Creation of
charge |
|
Type of charge |
Hypothecation
|
|
Particular of
charge holder |
UCO Bank Puraawalkam
Branch, No. 14, Chennai 600007, Tamilndu, India |
|
Nature of
instrument creating charge |
Hypothecation of
goods to secure a demand cash credit |
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Date of
instrument Creating the charge |
24.04.2006 |
|
Amount secured by
the charge |
Rs. 2.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate of 1.5% p.a. below PLR minimum of 9.5% with monthly rests. |
|
Description of
the property charged indicating whether it is a charged on |
Hypothecation by
way of first charge in favour of UCO Bank, Purasawalkam Branch, Chennai on
all the companies stocks of computers, Peripherals, Equipments, Spares stored
and to be stored at old no. 9 new no. 4 Avenue Road, Shanthi Building, First
Floor, Nungambakkam, Chennai 600034, as security to secure the present
sanctioned cash credit limit of Rs. 2.500 Millions together with interest,
costs, charges and all other expenses which may be debited to the said
account from time to time. |
|
Particulars of
the present modification |
Hypothecation |
Buyers and
commission agents for computers and peripherals. Also they are software and
hardware consultants.
AS PER WEBSITE
QUADSEL Systems is a
recognized leader in designing and implementing comprehensive IT solutions in
India. Developing a fully operational computing environment requires expertise
in planning, designing and implementing solutions. For over 10 years, QUADSEL Systems have effectively established and
delivered solutions that provide real business value to the customers.
In today's challenging economic environment, IT managers
increasingly have to do more with constrained resources. This means looking for
smarter ways to use the network while managing the demands of users,
applications and limited budgets. QUADSEL Systems offers
a unique blend of practical and innovative solutions that provides you with
high-value, leading-edge solutions designed for the realities of everyday
business.
ABOUT
THE COMPANY
QUADSEL Systems was established in
early 1994 with the main objective of providing open system Multi-Vendor
Networking Solutions. Over the years, QUADSEL
Systems has succeeded in winning recognition in India for its
technical excellence and professional services.
QUADSEL Systems is now widely renowned
for its expertise in areas like WAN, LAN
and System Integration. It goes the
distance to give the customer innovative and customized solutions for expanding
the size, scope and capacity of the networks, while reducing cost and
complexity.
Their commitment to
service includes a qualified sales team responding quickly to the needs and
in-house experts ready to help you to solve the networking or Communication
problems thereby getting the best returns for the investment.
Integrated Solutions for a Concrete Setting
QUADSEL Systems is a
recognized leader in designing and implementing comprehensive IT solutions in
India. Developing a fully operational computing environment requires expertise
in planning, designing and implementing solutions. For over 10 years, QUADSEL
Systems have effectively established and delivered solutions that provide real
business value to the customers.
In today's challenging
economic environment, IT managers increasingly have to do more with constrained
resources. This means looking for smarter ways to use the network while
managing the demands of users, applications and limited budgets. QUADSEL
Systems offers a unique blend of practical and innovative solutions that
provides you with high-value, leading-edge solutions designed for the realities
of everyday business
IT
SERVICES
A Computer Network has a complex makeup, comprising hardware and software
components from many sources. The process of systems integration is the
optimization of these disparate vendors and components toward the construction
of a seamless operation.
QUADSEL Systems can assist you in building the business and in providing
better IT solutions with top-quality service and support. They take pride in
having one of the best open systems teams of technical support and professional
engineers to provide complete quality service.
QUADSEL Systems has trained engineers and support personnel who are
experienced and proficient in following IT environments:
v
Wide Area Networks
v Local Area Networks
v Data
Communication
v System Integration
v Network Administration
The services offered by
QUADSEL
Systems
- Installation of Network Systems
- COMPAQ
- HP
- IBM
- SUN SPARC
- HP UX
- HCL)
- Installation of Software
- Microsoft Windows 2003 Server / Windows 2000
- Microsoft Windows 98/ XP Home/ XP Professional
- Novel Netware 4.11- 6.5
- SCO Unix, TCP / IP & LINUX
- Connectivity's with
- IBM AS – 400
- IBM RS – 6000
- TANDEM
- HP UNIX & LINUX SERVERS
- SILICON GRAPHICS
- Installation of Network Printers and Modems
- HP
- EPSON
- WIPRO
- DAX
- ZYXEL
- Consultancy for
System Implementation and Configuration
- Maintenance of
Systems
- AMC / LMC / FACILITY MANAGEMENT
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. 42.79 |
|
UK Pound |
1 |
Rs. 85.04 |
|
Euro |
1 |
Rs. 67.34 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
|
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 |
|
|
>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 |
|