MIRA
INFORM REPORT
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Report Date : |
28.11.2008 |
IDENTIFICATION DETAILS
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Name : |
LINK TELECOM PRIVATE LIMITED |
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Registered Office : |
9, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
15.02.2002 |
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Com. Reg. No.: |
21-94239 |
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CIN No.: [Company
Identification No.] |
U64202WB2002PTC094239 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALL01081D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Distributor of Samsung Handset Mobiles and Accessories |
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 64000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory track.
Trade relations are fair. Business is active. Payments are reported as
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. P Chatterjee |
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Designation : |
Manager |
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Contact No.: |
91-9830665590 |
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Date : |
26.11.2008 |
LOCATIONS
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Registered Office : |
9, |
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Tel. No.: |
91-33-24863426 |
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Mobile No.: |
91-9830255900 / 9830962162 |
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Fax No.: |
91-33-24863426 / 24863428 |
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E-Mail : |
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Area: |
2000 Sq.fts |
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Location: |
Rented |
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Branches: |
Located at: · Bhunaveshar ·
·
·
· Guwahati |
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Location: |
Rented (All Branches) |
DIRECTORS
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Name : |
Mr. Subhash Subberwal |
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Designation : |
Chairman |
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Address : |
112A, Block A , 5th Floor, |
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Date of Birth/Age : |
12.03.1943 |
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Qualification: |
MBA |
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Date of Appointment : |
15.02.2002 |
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Election Commission
Identity Card No.: |
WB/23/146/147537 |
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Name : |
Mr. Deepak Gupta |
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Designation : |
Director |
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Address : |
II / DIO / Aasha, |
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Date of Birth/Age : |
22.09.1958 |
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Qualification: |
Post Graduate |
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Date of Appointment : |
15.02.2002 |
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Name : |
Mr. Vijay Pahwa |
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Designation : |
Director |
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Address : |
94 Apsara |
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Date of Birth/Age : |
11.06.1956 |
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Date of Appointment : |
15.02.2002 |
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Tel No.: |
91-22-263189 |
KEY EXECUTIVES
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Name : |
M/S S |
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Designation : |
Company Secretary |
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Address : |
UG 05, 01A, Udayan, The Condoville, 1050/1, |
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Tel No.: |
91-33-24163983 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 18.08.2008)
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Names of Shareholders (as on 31.03.2007) |
No. of Shares |
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Subhash Subberwal |
105000 |
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Deepak Gupta |
105000 |
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Anita Subberwal |
10000 |
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Naina Subberwal |
10000 |
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Seema Gupta |
10000 |
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Nikhil Gupta |
10000 |
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Total |
250000 |
Equity Shares Breakup (Percentage of Total Equity): (as on 30.09.2008):-
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Category |
Percentage |
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Directors or relative of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Distributor of Samsung Handset Mobiles and Accessories |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Credit (70 to 80 days) |
GENERAL INFORMATION
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Customers : |
·
Wholesaler ·
Distributor |
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No. of Employees : |
Above 50 |
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Bankers : |
·
State Bank of ·
State Bank of ·
The 31 B B D Bag, Kolkata – 700 001, West · Axis Bank |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Nityananda Saha Chartered Accountants |
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Address : |
560, Dakshindari, Lahabagan, Kolkata – 700 048, West |
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Tel No.: |
91-33-65211210 |
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Mobile No.: |
91-9831020656 / 9830405862 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity shares |
Rs.10/- each |
Rs.2.500 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity shares |
Rs.10/- each |
Rs.2.500 millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.500 |
2.500 |
2.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
10.336 |
5.839 |
3.398 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
12.836 |
8.339 |
5.898 |
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LOAN FUNDS |
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1] Secured Loans |
0.014 |
7.409 |
21.392 |
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2] Unsecured Loans |
40.873 |
37.761 |
27.806 |
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TOTAL BORROWING |
40.887 |
45.170 |
49.198 |
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DEFERRED TAX LIABILITIES |
0.008 |
0.022 |
0.092 |
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TOTAL |
53.731 |
53.531 |
55.188 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.896 |
1.910 |
1.268 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.010 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
89.818
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39.700
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28.491 |
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Sundry Debtors |
74.720
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33.016
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20.016 |
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Cash & Bank Balances |
105.110
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7.012
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12.644 |
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Other Current Assets |
0.000
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0.000
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0.000 |
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Loans & Advances |
10.281
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6.602
|
5.517 |
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Total
Current Assets |
279.929
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86.330
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66.668 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
222.253
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29.313
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8.091 |
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Provisions |
5.861
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5.410
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4.674 |
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Total
Current Liabilities |
228.114
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34.723
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12.765 |
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Net Current Assets |
51.815
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51.607
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53.903 |
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MISCELLANEOUS EXPENSES |
0.010 |
0.014 |
0.017 |
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TOTAL |
53.731 |
53.531 |
55.188 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
1551.235 |
1701.107 |
820.239 |
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Other Income |
0.558 |
0.179 |
0.109 |
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Total Income |
1551.793 |
1701.286 |
820.348 |
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Profit/(Loss) Before Tax |
5.914 |
5.440 |
3.796 |
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Provision for Taxation |
0.072 |
2.045 |
1.384 |
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Profit/(Loss) After Tax |
5.842 |
3.395 |
2.412 |
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Expenditures : |
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Cost of Goods Sold |
1508.103 |
1666.091 |
0.000 |
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Staff Cost |
4.272 |
3.428 |
0.000 |
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Financial Charges |
0.000 |
0.000 |
1.421 |
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Depreciation & Amortization |
0.451 |
0.554 |
0.336 |
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Other Expenditure |
33.053 |
25.773 |
814.795 |
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Total Expenditure |
1545.879 |
1695.846 |
816.552 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
0.38
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0.20 |
0.29
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Net Profit Margin (PBT/Sales) |
(%) |
0.38
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0.32 |
0.46
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.10 |
6.17 |
5.59
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Return on Investment (ROI) (PBT/Networth) |
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0.46 |
0.65 |
0.64
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Debt Equity Ratio (Total Liability/Networth) |
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20.96
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9.58 |
10.51 |
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Current Ratio (Current Asset/Current Liability) |
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1.23
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2.49 |
5.22 |
LOCAL AGENCY FURTHER INFORMATION
Note
The Registered Office of the company has been shifted from Shanti
Niketan, Suite No. 10, 1st Floor, 8 Camc Street, Shakespeare Sarani,
Kolkata – 700 017, West Bengal, India to the present address w.e.f. 01.08.2006.
Trade References
· Karuna Management Services Private Limited, (Kolkata)
· Star Info Tech, (Guwahati)
·
Archi
Info Tech (Guwahati)
Form 8:-
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Name of the
company |
LINK TELECOM PRIVATE LIMITED Shantiniketan, Suite No. 10, 1st
Floor, |
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Presented By |
The 31 B B D Bag,
kolkata – 700 001 |
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1) Date and
description of instrument creating the change |
Agreement for
loan / Overdraft against hypothecation of credit Card receivables executed by
M/s Link Telecom Private Limited on 20.09.2005 in favour of The Hong Kong and
Shanghais Banking Corporation Limited
(the bank ) |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 6.000
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 |
All present and
future credit card receivables due to usage of credit card issued by any
credit card issuing entity, owing and payable ore which may at any time
during the continuance of the security become due owing or payable to the
company in the course of its business by any person , firm, company or body corporate. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
In consideration of loan / Overdraft / other Banking facilities
sanctioned by the bank to the company , the company has hypothecated and
charged o the bank by way of first
charge as a continuing, security , the assets mentioned in item No. 3 above
to secure the repayment of the
advances together with Interest cost and all other charge. Interest at the
rate of 10.00% per annum shall be
payable by the company , subject however that the bank shall have the right
of change the rate of Interest after giving notice to the company. The company shall maintain such margin of security as may be specified by the
bank from time to time . In case the
company fails to fulfill its obligation under the agreement , the bank shall
be entitled to rake possession of the hypothecated properties and sell them
by public auction or private contract and utilize. |
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5) Name and
Address and description of the person entitled to the charge. |
The 31 B B D Bag, Kolkata – 700 001 |
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6) Date and brief description of instrument
modifying the charge |
Not Applicable |
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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. |
Not Applicable |
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Corporation identity number or foreign company registrations number of
the company |
U64202WB2002PTC094239 |
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Name of the company |
LINK TELECOM PRIVATE LIMITED |
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Address |
9, |
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This Form is for |
Modification of Charge |
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Type of Charges |
· Book Debts · Movable Property · Floating Charge · Others |
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Particular of the charge holder
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State Bank of Address
: Email
: sbp5027@yahoo.co.in |
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Nature or description of the instrument creating charge |
Letter regarding the grant of individual
limits within the overall limit Supplementary agreement of hypothecation
of goods and assets for increase in the overall limit |
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Date of the instrument creating charge |
10.12.2007 |
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Amount Secure by the charge |
RS. 15.000 millions |
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Brief of the principal terms an conditions and extent and operation of
the charge |
·
Rate
of Interest : The Bank reserves the right to charge Interest
, commission , discount , cost charges at such rates (s) as may be determined
by the bank from time to time according to Banking Norms and RBI guidelines,
the present rate of Interest being:- For cash credit @ 1.60% above BPLR i.e @ 14.60% art present on Monthly
rests. ·
Terms
of repayment: Cash credit on Demand as agreed between
Borrower and Bank ·
Margin: Finished goods - 30% Book debts – 50% (not more than 7 days
old) ·
Extent
and operation of the charge The charge operated as first charge basis
on the whole of hypothecated fixed assets , Equipments, computers, furniture
and all other assets ( Except Car) and variable assets created to created in
future. ·
Others: The borrower shall not do or not allow anything
which may prejudice the security and shall comply with the terms and
conditions of the agreement. All other terms and conditions continue to
remain as before in full force effect. |
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Short particulars of the Property charged |
Hypothecation of the company current assets and stock of Mobile
handsets and accessories, receivable , goods in transit , book debts and
other current assets both present and
future and particulars of the properties and all other terms and conditions
continue to remain as before in full force effect. |
Fixed Assets
·
Computer Systems
·
Air Conditioner and Water
Cooler
·
Fax Machine
·
Furniture and Fixture
·
Office Equipments
·
Maruti Cargo Van
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.49.85 |
|
|
1 |
Rs.76.60 |
|
Euro |
1 |
Rs.64.68 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
|
--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 |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
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 |
|