MIRA
INFORM REPORT
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Report Date : |
30.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
S K INTERNATIONAL |
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Registered Office : |
S K House, 94 – A, Avval Baug, DSP Road, Dadar (East), Mumbai – 400014,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of establishment : |
1984 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS09264D |
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PAN No.: [Permanent
Account No.] |
AAMFS2232C |
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Legal Form : |
Partnership concern with an Unlimited Liability of the Partner. |
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Line of Business : |
Dealer and Distributor for HP, RSA, EMC, Hitachi, Microsoft, Cisco Systems,
Veritas, Citsix, Cracle Sun, Systimax Tuco. The concern undertakes software
developments, as well. |
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 250000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Mr. Balasubramaniam of the concern remained non co-operative during
current investigation. Subject is a well established and reputed concern in its field. Trade relations
are fair. Payments are correct and as per commitments. The concern is doing well. Union Bank of India reported to maintain good account with them. The concern can be considered good for normal business dealings. It
can be regarded as a promising business partner in a medium to long-run. |
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LOCATIONS
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Registered Office : |
S K House, 94 –A, Avval Baug, DSP Road, Dadar (East), Mumbai – 400014,
Maharashtra, India |
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Tel. No.: |
91-22-40761000 |
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Fax No.: |
91-22-24161726 |
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E-Mail : |
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Website : |
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Area : |
Medium Sized |
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Location : |
Owned |
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Branch Office : |
No. 6, Ground Floor, III Cross Street, Undited India Colony,
Kodambakkam, Chennai – 600 024, Tamilnadu, India |
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Tel. No.: |
91-44-42133040/ 42046968/ 42046559 |
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E-Mail : |
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Branch Office : |
Shri Niwas, 1st Floor, Block No. 3, Off. Apte Road, Santosh
Bakery Lane, 1022/ 29, Shivaji Nagar, Pune – 411004, Maharashtra, India |
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Tel. No.: |
91-20-30223800/ 30223801 |
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Fax No.: |
91-20-30223799 |
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E-Mail : |
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Branch Office : |
11, 4th “C” Cross, 5th Block, Koramangala
Industrial Layout, Bangalore – 560034, Karnataka, India |
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Tel. No.: |
91-80-25521727/ 25581728 |
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Fax No.: |
91-80-25520882 |
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E-Mail : |
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Branch Office : |
4B/52, Shankar Road, Old Rajendar Nagar, Above Aggarwal Bikanerwala,
New Delhi – 110060, India |
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Tel. No.: |
91-11-65477401 |
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E-Mail : |
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Branch Office : |
23 C, Prince Bakhtiar Shah Road, Kolkata – 700033, West Bengal, India |
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Tel. No.: |
91-33-65447512/ 65447607 |
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Mobile No: |
91-9433124970 |
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E-Mail : |
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Branch Office : |
SCO 371-372-373, 1st Floor, Cabin No. 7, Sector – 34 A,
Chandigarh – 160034, Punjab, India |
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Tel. No.: |
91-172-662822 |
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E-Mail : |
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Branch Office : |
Flat No. 406, 4th Floor, Central Court Apartment, Rajbhavan
Road, Hyderabad – 500082, Andhra Pradesh, India |
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Tel. No.: |
91-40-23401367 |
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E-Mail : |
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Branch Office : |
1st Floor, Satyawati Apartments, Malmolem, Mangoor Hill,
Vasco Da Gama, Goa – 4032802, Maharashtra, India |
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Tel. No.: |
91-832-2532543 |
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E-Mail : |
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Branch Office : |
No. 27/ 3013, 1st Floor, 12th Cross Road, Giri
Nagar, Kochi - 682020 |
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Tel. No.: |
91-484-2323144 |
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E-Mail : |
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Branch Office : |
FF3, 2nd Floor, Malak Complex, Opp. Loha Bhavan, Near Old
High Court, Ashram Road, Ahmedabad – 380014, Gujarat, India |
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Tel. No.: |
91-79-7542633 |
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E-Mail : |
PARTNERS
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Name : |
Mr. Hemant Kenia |
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Designation : |
Partner |
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Name : |
Mr. Vasudev Rao |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Dealer and Distributor for HP, RSA, EMC, Hitachi, Microsoft, Cisco
Systems, Veritas, Citsix, Cracle Sun, Systimax Tuco. The concern undertakes
software developments, as well. |
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Exports : |
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Products : |
Software Services |
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Countries : |
v USA v Europe |
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Terms : |
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Selling : |
Cash and Credit ( 30 days) |
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Purchasing : |
Cash and Credit ( 30 days) |
GENERAL
INFORMATION
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Customers : |
v Wholesalers v Retailers v End Users v Others v Banking,
Finance, ISPs, Software and IT enabled Services. v HP Invent v Microsoft v Oracle v RSA The Security
Division of EMC v CISCO Systems
Empowering the Intex Generation v Sun Micro
Systems v EMC Where
Information Lives v Veritas v Molex v Hitachi v Citrix v Asset Link v Systimax
Solutions v Watch Guard v Tyco Electronics |
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No. of Employees : |
+150 |
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Bankers : |
Union Bank of India Bhat bazaar, Mumbai – 400002, Maharashtra, India |
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Facilities : |
(The concern reported to enjoy substantial facilities from its
Banker’s.) |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 50.000 millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs. 50.000 millions (Estimated) |
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 (Estimated) |
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5000.000 |
LOCAL AGENCY FURTHER
INFORMATION
As Per Website
Details
Profile
Subject is a leading Indian IT company engaged in providing complete end-to-end solutions to leading industry verticals like Banking and Finance, ISP's, MNC's, Software and IT enabled services industry.
Subject has been an esteemed name since its inception in 1984. SK has a nation-wide presence with 11 offices spread across India and head quarters located in the business capital city of Mumbai. Led by a work force of more than 150 qualified professionals, SK has always stayed in the forefront.
Subject is a part of the SK Group of companies, focused on various industry segments like Oil, Plastics, Finance, Commodity Trading, IT, etc. Having garnered revenue close to Rs. 6000.000 millions (US $ 150 Million) during the last financial year they are poised to achieving exponential growth in the next few years.
The concern undertakes software development services :
v Software Development and Associated Services
v IT and Business Consulting
v IT Enabled Services
v System Integration Services
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 :
The 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.
The 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. 42.95 |
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UK Pound |
1 |
Rs. 85.62 |
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Euro |
1 |
Rs. 67.81 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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 |
YES |
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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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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
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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, they have no basis upon which to
recommend credit dealings |
No Rating |
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