MIRA
INFORM REPORT
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Report Date : |
05.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
BROADBAND SERVICES PRIVATE LIMITED |
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Registered Office : |
B -319, New Friends Colony, New Delhi – 110 065 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
22.09.2000 |
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Com. Reg. No.: |
55 -107859 |
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CIN No.: [Company
Identification No.] |
U72900DL2000PTC107859 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB06319F |
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PAN No.: [Permanent
Account No.] |
AABCB9927D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Provider of Cable, TV Network Services, Internet Services, MMDC Services,
etc |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 6000 |
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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Efforts to contact Mr. Rahul Khanna failed since given telephone
number is incorrect. Name of the company could not be found from internet. The company does not appear to have done significant business, yet. It can be considered for any business dealings on safe and secured
trade terms and conditions, initially. |
LOCATIONS
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Registered Office : |
B -319, New Friends Colony, New Delhi – 110 065, India |
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Mobile No.: |
91-9891820000 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Rahul Khanna |
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Designation : |
Director |
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Address : |
B -319, New Friends Colony, New Delhi – 110 065, India |
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Date of Birth/Age : |
21.12.1965 |
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Date of Appointment : |
22.09.2000 |
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Name : |
Mr. Avinash Khanna |
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Designation : |
Director |
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Address : |
B -319, New Friends Colony, New Delhi – 110 065, India |
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Date of Birth/Age : |
29.05.1937 |
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Date of Appointment : |
22.09.2000 |
SHAREHOLDING
PATTERN
Equity Shares Breakup (Percentage of Total Equity): (as on 31.03.2006):-
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Sr No. |
Category |
Percentage |
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1 |
Directors or relative of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Provider of Cable, TV Network Services, Internet Services, MMDC
Services, etc |
GENERAL
INFORMATION
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Bankers : |
Corporation Bank, Chandni Chowk, Delhi – 110 006, India |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Verma Garg and Associates Chartered Accountants |
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Address : |
159-E, Kamla Nagar, Delhi – 110 007, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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1.324 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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1.424 |
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LOAN FUNDS |
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1] Secured Loans |
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13.265 |
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2] Unsecured Loans |
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16.264 |
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TOTAL BORROWING |
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29.529 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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30.953 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.390 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.109 |
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DEFERREX TAX ASSETS |
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0.004 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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9.729 |
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Sundry Debtors |
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32.092 |
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Cash & Bank Balances |
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0.252 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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2.700 |
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Total
Current Assets |
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44.773 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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13.783 |
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Provisions |
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0.545 |
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Total
Current Liabilities |
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14.328 |
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Net Current Assets |
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30.445 |
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MISCELLANEOUS EXPENSES |
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0.005 |
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TOTAL |
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30.953 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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119.186 |
61.412 |
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Other Income |
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1.378 |
0.006 |
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Total Income |
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120.564 |
61.418 |
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Profit/(Loss) Before Tax |
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1.393 |
0.690 |
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Provision for Taxation |
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0.520 |
0.298 |
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Profit/(Loss) After Tax |
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0.873 |
0.392 |
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Expenditures : |
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Depreciation & Amortization |
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0.147 |
0.045 |
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Other Expenditure |
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118.877 |
60.638 |
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Total Expenditure |
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119.024 |
60.683 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.72 |
0.64 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.17 |
1.12 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.08 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.97 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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30.79 |
NA |
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Current Ratio (Current Asset/Current Liability) |
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3.12 |
NA |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:
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Corporation identity number or foreign company registrations number of
the company |
U72900DL2000PTC107859 |
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Name of the company |
BROADBAND SERVICES
PRIVATE LIMITED |
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Address |
New
Delhi – 110 065, India |
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This Form is for |
Modification of Charge |
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Type of Charges |
· Book Debts · Others |
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Particular of the charge holder
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Corporation Bank Address: Chandni Chowk, Delhi – 110 006, India E-Mail: reachsunil@vsnl.net |
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Nature or description of the instrument creating charge |
ID – 908- Common Deed of Hypothecation of movable / assets / Debts ID- 913 – Supplemental Deed of hypothecation of goods |
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Date of the instrument creating charge |
07.07.2007 |
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Amount Secure by the charge |
Rs. 12.500 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : 1% Over cobra presently 14.25% p.a Terms of Repayment: Repayable on demand Repayable on demand Margin: As per sanctioned terms and conditions. Extent and operation of the Charge First and Exclusive charge over the entire stocks, book debts and
other movable assets of the company wherever situated and belonging to the
company. |
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Short pars of the Property charged
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First and Exclusive charge over the entire stocks, book debts and other
movable assets of the company wherever situated and belonging to the company. |
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Particulars of the present modification |
An Adhoc limit of Rs. 2.500 millions over and above regular limit of
Rs. 10.000 millions granted by the bank for a period of three month thereby
making the overall limit to Rs. 12.500 millions other terms and conditions as
per sanction letter to the bank. |
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Name of the
company |
BROADBAND SERVICES PRIVATE LIMITED |
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Presented By |
Mr. Rahul Khanna
– Director |
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1) Date and
description of instrument creating the change |
Common Deed of
hypothecation of movable assets / Debts dated 19.03.2004 and unattested. Deed
of hypothecation of movable also dated 19.03.2004 registered on 19.04.2004 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 5.000
millions |
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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 |
Hypothecation of present
and future movables of any kind and located any where alongwith sales
realization and insurance proceeds thereof. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
The aforesaid securities are charged to the bank to secure OD limit of
Rs. 5.000 millions @ 11% Interest
being 0.50% over present PLR overdue Interest @ 2% p.a or such other
rates(s) fixed by the bank from time to time. |
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5) Name and
Address and description of the person entitled to the charge. |
Corporation Bank Chandni Chowk Delhi |
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6) Date and brief description of instrument
modifying the charge |
ID – 906-
Hypothecation of goods to secure Demand Cash Credit ID-909 –
Agreement for hypothecation of book debts Appendix – 40- General
Power of attorney for book debts and supply bills ID –
994-Continuity Letter for EM of property at Flat no. 1701, 16th
Floor, Block A – 2, uniworld City Complex, sector 30 and 41 Gurgaon, Haryana.
ID- 920-
Guarantee agreement for personal guarantee of the following persons: Mr. Rahul Khanna Mrs. Avinash
Khanna Mrs. Shalu Khanna
ID- 903-
Memorandum of charge / Lien over deposits for lien over RD Account of Rs.
0.100 million per month. |
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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. |
The extent of
operation of charge stands enhanced upto Rs. 10.000 millions Other terms and
conditions as per sanction letter No. ZO:DLI:ADVCCSI:DGM:CSI:140:05 dated
25.10.2005 |
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.40.55 |
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UK Pound |
1 |
Rs.80.20 |
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Euro |
1 |
Rs.62.74 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
-- |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
-- |
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--LEVERAGE |
1~10 |
-- |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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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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15 |
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, we have no basis upon which to
recommend credit dealings |
No Rating |
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