MIRA
INFORM REPORT
|
Report Date : |
21.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
TRIANZ CONSULTING
PRIVATE LIMITED |
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Registered Office : |
Ground 1, 2 and 3
Floors, Embassy Icon 3, Infantry Road, Bangalore, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
08.05.2002 |
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Com. Reg. No.: |
08-34768 |
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CIN No.: [Company
Identification No.] |
U74140KA2002PTC034768 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRT01714G |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Subject act as an
Offshore Development Centre |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 850000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
– established company having fine track. Trade relations are fair. Financial
position is good. Payments are correct and as per commitments. The company is
doing well. It can be
considered good for any normal business dealings at usual trade terms and
conditions. It can be
regarded as a promising business partner in a medium to long – run. |
LOCATIONS
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Registered Office : |
Ground 1, 2 and 3
Floors, Embassy Icon 3, Infantry Road, Bangalore- 560 001, Karnataka,
India |
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Email: |
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Corporate Office/ Development Centre : |
No. 82, 3rd
Floor, Hulkul Brigade Centre, B - 2, Lavelle Road, Bangalore – 560001,
Karnataka , India |
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Tel. No.: |
91-80-22127869 |
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Fax No.: |
91-80-22127870 |
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Email: |
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Website: |
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Location : |
Leased |
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DIRECTORS
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Name : |
Mr. Srikanth Rao Manchala |
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Designation : |
Director |
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Address : |
275 Old Adobe Road, Lasgatos, California – 95023, United State America
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Date of Birth/Age : |
29.05.1967 |
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Date of Appointment : |
16.03.2003 |
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Name : |
Mr. Ganesh Venkatraman |
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Designation : |
Director |
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Address : |
102 GITC , Block II, III Main 5th Cross BTM Stage II ,
Bilekahalli, Bangalore – 560 076, Karnataka, India |
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Date of Birth/Age : |
21.07.1996 |
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Date of Appointment : |
06.06.2006 |
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Email: |
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Name : |
Mr. Suresh Chagsanti |
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Designation : |
Director |
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Address : |
Director |
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Date of Birth/Age : |
F 510 Sobha Opal , 4th T Block, jayanagar, Bangalore - 560 001, Karnataka, India |
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Date of Appointment : |
11.07.2005 |
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Name : |
Mr. Dhar S Murli Ponnal |
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Designation : |
Director |
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Address : |
Flat No. 102 Prestige Dorch Ester Jakkur Vilage Jakkur Flying club,
Bangalore -560 064, Karnataka, India |
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Date of Birth/Age : |
18.12.1964 |
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Date of Appointment : |
27.07.2002 |
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Name : |
Mr. Sundar R Ranganathan |
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Designation : |
Director |
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Address : |
157/Y 3rd Main 4th Phase 7th Block
Banasankari, 3rd Bangalore – 560 085, Karnataka, India |
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Date of Birth/Age : |
21.04.1971 |
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Date of Appointment : |
27.07.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (As On 31.03.2007) |
|
No. of Shares |
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Mr. Pathak Shreedhar Anuradha |
|
5000 |
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Mr. Meghana Girish Natu |
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5000 |
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Trianz INC |
|
149500 |
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Mr. Laxmi Srikanth |
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100 |
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Mr. Manchala Srikanth |
|
100 |
Equity Shares Breakup (Percentage of Total Equity): (as on 31.03.2007)
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Sr No. |
Category |
Percentage |
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1 |
Bodies Corporate |
99.99 |
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2 |
Directors or relative of directors |
0.01 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject act as an
Offshore Development Centre |
GENERAL
INFORMATION
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No. of Employees : |
150 |
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Bankers : |
State Bank of
India, Industrial Finance Branch, Residency Road, Bangalore – 560023, Karnataka, India |
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Banking Relations : |
Satisfactory |
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Auditors : |
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Name 1: |
Sundaram &
Harish Chartered
Accountant |
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Name 2: |
Walker Chandiok
and company Chartered
Accountants |
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Address : |
Grant Thornton
House 327/A, 11 Main HAL II Stage Indiranagar, Bangalore – 560 038,
Karnataka, India |
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Holding Company: |
Trianz Holdings
Private Limited |
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Associates/Subsidiaries : |
· Eximsoft Inc, USA · Eximsoft Technology Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500200 |
Equity Shares |
Rs. 10/- each |
Rs.15.002
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
15.002 |
15.002 |
31.514 |
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2] Share Application Money |
169.446 |
29.446 |
0.000 |
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3] Reserves & Surplus |
26.222 |
14.597 |
13.265 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
210.670 |
59.045 |
44.779 |
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LOAN FUNDS |
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1] Secured Loans |
1.544 |
25.031 |
37.764 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
1.544 |
25.031 |
37.764 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
1.560 |
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TOTAL |
212.214 |
84.076 |
84.103 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
36.166 |
35.064 |
19.832 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
51.080 |
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DEFERREX TAX ASSETS |
8.692 |
3.593 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
134.976
|
26.610 |
27.322 |
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Cash & Bank Balances |
14.326
|
26.618 |
0.776 |
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Other Current Assets |
0.000
|
0.921 |
0.000 |
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Loans & Advances |
78.312
|
27.365 |
13.623 |
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Total
Current Assets |
227.614
|
81.514 |
41.721 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
53.715
|
32.383 |
27.797 |
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Provisions |
6.543
|
3.740 |
0.788 |
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Total
Current Liabilities |
60.258
|
36.123 |
28.585 |
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Net Current Assets |
167.356
|
45.391 |
13.136 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.028 |
0.055 |
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TOTAL |
212.214 |
84.076 |
84.103 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
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|
31.03.2005 |
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Sales Turnover |
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|
75.441 |
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Other Income |
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|
0.000 |
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Total Income |
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|
75.441 |
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Profit/(Loss)
Before Tax |
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|
6.048 |
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Provision for
Taxation |
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|
(0.431) |
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Profit/(Loss)
After Tax |
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|
6.479 |
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Export Value |
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|
47.891 |
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Import Value |
|
|
2.282 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total
Income |
(%) |
NA
|
NA |
8.58 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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NA |
8.01 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
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NA |
9.82 |
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Return on Investment (ROI) (PBT/Networth) |
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NA
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NA |
0.13 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.29
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1.04 |
1.48 |
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Current Ratio (Current Asset/Current Liability) |
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3.78
|
2.26 |
1.45 |
LOCAL AGENCY
FURTHER INFORMATION
OTHER
INOFORMATION:
The company was originally incorporated in Pune on 08.05.2002 having Company Registration No. 16972.
The Registered Office of the
company has been shifted from Pune to Bangalore with effect from 08.09.2004 and
a new Company Registration Number 34768 of Bangalore ROC was obtained.
(Resolution Passed – 20.04.2004)
Business
Founded in 2000, the company is a consulting and professional services firm that specializes in the execution of strategic initiatives for business leaders. They provide a range of execution-oriented services to a diversified, global client base in a variety of industries
The company is to act as an Offshore Development Centre to its Principal, Initially and over a period of time act as a Hub for its Asia Pacific activity. The company is carry out its activity from a 100%
FORM 8:-
|
Corporation identity number or foreign company registrations number of
the company |
U74140KA2002PTC034768 |
|
Name of the company |
TRIANZ CONSULTING PRIVATE LIMITED |
|
Address |
No. 82, 3rd
Floor, Hulkul Brigade Centre, B - 2, Lavelle Road, Bangalore – 560001,
Karnataka , India |
|
This Form is for |
Modification of Charge |
|
Type of Charges |
Hypothecation |
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Particular of the charge holder
|
State Bank of India Industrial finance Branch Residency Road, Bangalore – 560 025,
Karnataka, India Email : rjayaraman4@dataone.in |
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Amount Secure by the charge |
Rs. 150.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : Breakup – CC Rs. 30.000 millions , Corp Loan 1, Rs. 30.000 millions
and Corp Loan 2 Rs. 90.000 millions , original Charge :06.09.2004, Regd.
19.04.2004 D .03 – Amount Redu to Rs. 10.000 millions and modified on
10.12.2004 Regd. 24.01.2005, D 7- Amount Incd to Rs. 45.000 millions Interest
: 11% per annum with periodical rests and / or at such rate /s and rests as
may be specified by the bank from time to time Margin: 25% on domestic receivables Repayment: CC- On demand, Corp Loan 1 – As Per old Form, Corp Loan 2 –
in 44 monthly installments. |
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Particulars of the Property charged
|
Hypothecation of all present and future goods, book debts and all
other movable assets of the borrower including documents of title to goods
outstanding monies receivables claims, bill, invoices, document, contract,
insurance policies, guarantee, stocks, engagement, securities , investments,
rights equipment, vehicle, plant and
machinery by way of first
charge. |
|
|
Supplemental agreement of loan cum hypothecation SME 04. Link Letter
SME 12.(Both of the above pertain to same charge) |
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Particulars of the present modification |
Amount increased from Rs. 45.000 millions to Rs/. 150.000 millions
securities already OBTD and now OBTD will cover the entire credit facilities
of Rs. 150.000 millions CRS by way of first charge. |
|
Name of the
company |
TRIANZ CONSULTING PRIVATE LIMITED |
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Presented
By |
TRIANZ CONSULTING PRIVATE LIMITED and State Bank of India , IFB Residency Road,
Bangalore |
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1) Date and
description of instrument creating the change |
11.10.2003 /
Regd. On 05.11.2003 (D. No. 21) General Agreement
for the grant of small Industrial Advance and hypothecation of movables ,
book debts and other asset Agreement for the
grant of small industrial advances (working capital Finance) Re: Hypothecation
of goods , book debts and other asset. General agreement
for the grant of medium term advances to small scale industries and
hypothecation of movables , book debts and other asset (for Rs. 5.000
millions) General Agreement
for the grant of medium term Advances to small scale industries and
hypothecation of movables , book debts and other assets (for Rs. 2.000
millions) Agreement for the
grant of small Industrial advances (Term Loans) advances against General
hypothecation (All the
agreement pertain to same charge) |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 17.000
millions (CC – Rs. 10.000
millions (EPC Sub Limit – Rs. 2.500 millions), TL Rs. 5.000 millions , Clean
TL – Rs. 2.000 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 |
All present and
future book debts, movables and other assets , including deposit of title to
goods and others assets such as outstanding monies, receivables, claims, bills,
invoices, documents, contracts, engagements, securities, investments, rights
and all the present and future machinery, shall stand hypothecated to the
bank by way of first charge. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Cash Credit: Interest on CC @ 1.10% p.a over the State Bank of India advance rate
with a minimum of 11.60% p.a at monthly rests Interest on EPC @2.25% DBSTAR with a minimum of 7.25% p.a at monthly
rests Margin – 25% Repayable on Demand Cover period of receivables 90 days Term Loan: Interest @1.10% p.a over the State Bank of India advance rate with a
minimum of 12.10% p.a at monthly rest Term Loan of Rs. 2.000 millions in repayable in 25 equal monthly
installments commencing from January 2004 Term Loan: Interest @ 1.10% p.a over the State Bank of India advance rate with a minimum of 12.10% p.a at monthly rest Term Loan of Rs. 2.000 millions
in repayable in 25 equal installments commencing from January 20040 |
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5) Name and
Address and description of the person entitled to the charge. |
State Bank of India Address: Industrial Finance Branch “Residency Plaza”, No. 61 Residency Road, Bangalore – 560 025,
Karnataka, India |
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6) Date and brief description of instrument
modifying the charge |
10.12.2004 Supplemental
general agreement for the grant of small industrial Advances and
hypothecation of goods book debts and other assets (working capital finance) General agreement
for the grant of medium Term advances
to small scale industries and hypothecation of movables , book debts and
other assets Agreement for the
grant of small industrial advances (working capital finance) |
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.40.45 |
|
UK Pound |
1 |
Rs.81.20 |
|
Euro |
1 |
Rs.63.48 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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 |
|