%20PRIVATE%20LIMITED%2007-Oct-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
UNITED TELE LINKS
(BANGALORE) PRIVATE LIMITED |
|
|
|
|
Registered Office : |
4, 1ST Floor, Subedar Garden Bazaar Road, Indranagar, Bangalore - 560038, Karnataka |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
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|
|
|
Date of Incorporation : |
13.06.1994 |
|
|
|
|
Com. Reg. No.: |
08-15750 |
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|
|
|
CIN No.: [Company
Identification No.] |
U85110KA1994PLC015750 |
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|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRU 00255D |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business : |
Manufacturer and
Importer of Telephone Instrument, Tele Communication Networks. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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|
|
|
|
|
Maximum Credit Limit : |
USD 850000 |
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|
|
|
Status : |
Very 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 satisfactory track. Directors are reported as
experienced, respectable and having satisfactory track records. Their trade
relations are fair. Payments are usually correct and as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Swami |
|
Designation : |
Senior Accounts Officer |
|
Contact No.: |
91-80-41378848 |
|
Date : |
18.04.2008 |
LOCATIONS
|
Registered Office/ Factory: |
4, 1ST Floor, Subedar Garden Bazaar Road, Indranagar, Bangalore – 560038, Karnataka,
India |
|
Tel. No.: |
91-80-25284748/25284749 |
|
Fax No.: |
91-80-25293107 |
|
E-Mail : |
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|
Website : |
|
|
Area : |
10000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Head Office : |
777C, 100 Feet
Road, Indiranagar, Bangalore – 560 038, Karnataka, India |
|
Tel. No.: |
91-80-25294425/26/27/25284748
/ 49 |
|
Fax No.: |
91-80-25263075/25293107 |
|
Area : |
2000 sq. ft |
|
|
|
|
Branches : |
Country wide 27
branches |
DIRECTORS
|
Name |
Mr. C. Basapurnaiah |
|
Designation |
Director |
|
Address: |
No. 319, Inner Circle, White Field, Bangalore – 560 066, Karnataka. |
|
Date of
Birth/Age : |
29.11.1926 |
|
Qualification
: |
Chartered Accountants |
|
Experience : |
29 years |
|
Date of
Appointment: |
13.06.1994 |
|
|
|
|
Name |
Mr. P. Subba Rao |
|
Designation |
Director |
|
Date of
Birth/Age : |
49 years |
|
Date of
Appointment: |
14.06.1994 |
|
|
|
|
Name |
Mr. Sudhir Hasija |
|
Designation |
Director |
|
Address: |
No. 7, Wellington Street, Richmond Street, Bangalore – 560 066,
Karnataka. |
|
Date of
Birth/Age : |
01.06.1956 |
|
Date of
Appointment: |
13.06.1994 |
|
Email : |
|
|
|
|
|
Name |
Mr. C. V. Rao |
|
Designation |
Director |
|
Address: |
No. 9, Whitley Layout, White Field, Bangalore – 560 066, Karnataka |
|
Date of
Birth/Age : |
24.05.1951 |
|
Date of
Appointment: |
15.09.2005 |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
C Basavapurnian |
|
6990 |
|
Dr. P Rajamohan
Rao |
|
10000 |
|
Sudhir Hasija |
|
117600 |
|
C V Rao |
|
10500 |
|
Dr. P Rajamohan
Rao (HUF) |
|
10020 |
|
Dr. (Mrs.)P
Padmavati |
|
10000 |
|
C Basavapurnian
(HUF) |
|
54420 |
|
C Sarojini Devi |
|
3330 |
|
C. Padmavathi |
|
4840 |
|
C Aasavapurnaiam |
|
3330 |
|
P Bhavana |
|
3650 |
|
P. Bharati |
|
3650 |
(As on 31.03.2007)
|
Category |
|
Percentage |
|
|
|
|
|
Directors or
relatives of directors |
|
73.15 |
|
Others top fifty shareholders
(other than listed above) |
|
26.85 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Importer of Telephone Instrument, Tele Communication Networks. |
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|
|
|
Products : |
·
Telephone Mobile Instruments ·
Tele Communication Networks |
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|
|
|
Imports : |
|
|
Products : |
·
Telephone Instruments |
|
Countries : |
·
Korea ·
China |
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|
|
|
Terms : |
|
|
Selling : |
International Cheque, Advances |
|
|
|
|
Purchasing : |
Credit (30 days), L/C and D/P terms |
GENERAL
INFORMATION
|
Customers : |
·
Karuna Management Private
Limited, Kolkata ·
Vision Enterprises, New Delhi ·
Astha Distribution, Bangalore |
||||||||||||||
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Suppliers : |
·
Alcatel Business Systems,
France ·
Samsung Mobiles, Korea and
China |
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No. of Employees : |
100 |
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Bankers : |
·
State Bank
of Travancore Residency Road, Bangalore – 560 025, Karnataka, India ·
Canara Bank N. R. Road, Bangalore –560002, Karnataka, India ·
IDBI Bank IDBI House, Ground Floor,No.58, Mission Road, Bangalore – 560027,
India |
||||||||||||||
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||||||||||||||
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C/C Term Loan
|
|
|
|
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Banking
Relations : |
Good |
|
|
|
|
Auditors : |
|
|
Name : |
Prakash and
Thiagarajan Chartered
Accountants |
|
Address : |
43/6, 8th
Main, Malleswaram, Bangalore – 560 003, Karnataka, India |
|
|
|
|
Collaboration : |
· Alcatel Business Systems, France |
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|
|
|
Associates/Subsidiaries : |
· United Telecom Limited, Bangalore · Laxmi Electronics, Bangalore · Priyaraj
Electronic Limited, Bangalore · Raja Magnetic Limited, Bangalore · Alcatel Business System (India) Private
Limited · NSP Electronic Limited, Bangalore · U R Telecom Research Limited, Bangalore · Fuzinova Data Systems Limited, Bangalore |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5500000 |
Equity Shares |
Rs.10/- each |
Rs.55.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
240000 |
Equity Shares |
Rs.10/- each |
Rs.2.400 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.400 |
2.400 |
2.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
168.469 |
103.582 |
66.086 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
170.869 |
105.982 |
68.486 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
9.520 |
45.595 |
80.890 |
|
|
2] Unsecured Loans |
0.000 |
0.574 |
1.212 |
|
|
TOTAL BORROWING |
9.520 |
46.169 |
82.102 |
|
|
DEFERRED TAX LIABILITIES |
0.563 |
0.579 |
0.759 |
|
|
|
|
|
|
|
|
TOTAL |
180.952 |
152.730 |
151.347 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.403 |
7.444 |
6.510 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.112 |
1.112 |
1.111 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
97.249
|
363.827 |
108.036 |
|
|
Sundry Debtors |
257.993
|
343.380 |
161.187 |
|
|
Cash & Bank Balances |
165.756
|
95.464 |
28.367 |
|
|
Other Current Assets |
2.546
|
2.733 |
2.496 |
|
|
Loans & Advances |
119.016
|
92.237 |
93.508 |
|
Total
Current Assets |
642.560
|
897.641 |
393.594 |
|
|
Less : CURRENT LIABILITIES
& PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
439.547
|
734.207 |
243.508 |
|
|
Provisions |
30.576
|
19.260 |
6.360 |
|
Total
Current Liabilities |
470.123
|
753.467 |
249.868 |
|
|
Net Current Assets |
172.437
|
144.174 |
143.726 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
180.952 |
152.730 |
151.347 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
5442.780 |
5090.636 |
2314.635 |
|
|
Other Income |
13.853 |
9.852 |
0.000 |
|
|
Total Income |
5456.633 |
5100.488 |
2314.635 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
115.424 |
63.642 |
19.353 |
|
|
Provision for Taxation |
39.927 |
22.823 |
8.137 |
|
|
Profit/(Loss) After Tax |
75.497 |
40.819 |
11.216 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Purchases made for re-sale |
5042.515 |
4748.706 |
|
|
|
Salaries, Wages, Bonus, etc. |
53.317 |
17.354 |
|
|
|
Managerial Remuneration |
0.798 |
0.798 |
|
|
|
Payment to Auditors |
0.150 |
0.158 |
|
|
|
Interest |
20.776 |
31.317 |
2295.282 |
|
|
Insurance Expenses |
1.868 |
1.651 |
|
|
|
Power & Fuel |
0.235 |
0.228 |
|
|
|
Depreciation & Amortization |
1.228 |
0.991 |
|
|
|
Other Expenditure |
220.322 |
235.642 |
|
|
Total Expenditure |
5341.209 |
5036.845 |
2295.282 |
|
%20PRIVATE%20LIMITED%2007-Oct-2008_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.38
|
0.09 |
0.48 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.12
|
1.25 |
0.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.76
|
7.03 |
4.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.67
|
0.60 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.81
|
7.54 |
4.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.19 |
1.58 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Name of the
company |
UNITED TELELINKS (BANGALORE) PRIVATE LIMITED |
|
Presented By |
Mr. C Basavapurnaia , Director |
|
1) Date and
description of instrument creating the change |
Composite
Agreement for hypothecation of Stocks, Book debts, other current assets,
plant and machinery dated 22.11.2005 executed by United Telelinks (Bangalore)
Private Limited (There in and here after referred to as “The Borrower”) in
favour of Induslnd Bank Limited. |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Cash Credit
/WCDL: Rs. 50.000 Millions Letter of Credit:
300.000 Millions Total: 350.000
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 |
For the
consideration aforesaid the borrow
hereby hypothecate/ and charge to and I favour of the bank as security for
repayment to the bank of all principal moneys, interest, all Costa, charges,
and expenses and other moneys to become payable hereunder all the stock of
goods such as raw materials, good in process, finished goods, consumable
stores, spares and such other items of stock in trade , document of title
goods, all plant & machinery now existing and now belonging to and in
possession of or in transit to the borrower during the continuance of the
security hereby created, wherever situated whether in the borrower factories,
premises place of business , residence, or in transit, in the course of
transit and also book debts, outstanding monies, recoverable, current assets
hereinafter called “other current assets” and receivables. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
So long as may
moneys outstanding in the said Cash Credit/ WCDL and bills outstanding
account, the borrower will pay the bank Interest as follows; Interest will be
calculated on the daily debit balance in the said account form time to time
at the rate of (-) 3.50 % over the prevailing PLR which is presently 12.50%
p.a. subject to the minimum of 9.00 % p.a. plus interest tax as applicable
from time to time at monthly, quarterly, rests to be taken and such interest
to be paid by the borrower at the end of each month/ quarter. So long as any
moneys are outstanding in the said packing credit and bills discounting
accounts, interest will be calculated at such rate and such manner as
prescribed by RBI from time to time. The commission on
guarantee LCs shall be at rates prescribed by Bank/ FEDAI from time to time. In default of
payment of interest as stated above the same shall be capitalized and added
to the principal and shall be treated as an advance to the Borrower secured
by the hypothecation hereby created and the Bank will be entitled to charge
interest at the aforesaid rate on the amount of the debit balance inclusive
of interest not paid by the Borrower and hence capitalized a aforesaid, in
addition to charging penal interest maximum at the rate of 2.50% p.a. from
the date of default to the date of actual payment. |
|
5) Name and
Address and description of the person entitled to the charge. |
Indusind Bank
Limited, “DU Parc Trinity”, No. 17, M. G. Road, Bangalore – 560 001. |
|
6) Date and brief
description of instrument modifying the charge |
NA |
|
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. |
NA |
|
Corporate
identity number (CIN) Foreign company registration number |
U03190KA1994PTC015750 |
|
Name of the
Company |
UNITED TELE LINKS
(BANGALORE) PRIVATE LIMITED |
|
Address |
4, 1ST Floor, Subedar Garden Bazaar Road, Indranagar, Bangalore - 560038, Karnataka,
India |
|
This form is for |
Creation of Charge |
|
Type of Charge |
Book Debts Stocks etc |
|
Particulars of
the charge holder |
Industrial
Development Bank of India IDBI House,
Ground Floor,No.58, Mission Road, Bangalore – 560027, India |
|
Nature or
description of the instrument(s) creating or modifying the charge |
Agreement of
Hypothecation of Goods and Assets |
|
Date of the
instrument creating or modifying the charge |
30.05.2007 |
|
Amount secured by
the charge |
Rs.1085.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of
Interests: BPLR – 1% Present
effective rate 12.25% Terms of
Repayments: Repayable on
demand Margin: 25% Extent and
operations of the charge: Charge extent on
all the aforesaid assets thought the period of sanctioned limits by way of
first exclusive charge on all fixed and current assets belonging to the
company |
|
Short particulars
of the property charged (including location of the property) |
Hypothecation of
the whole of the present and future stocks of raw materials, semi finished
goods, finished goods, work in progress, consumable stores, book debts etc.
Belonging to the company situated at L13 1st Floor, Diamond
District, Kodihalli, Airport Road, Bangalore – 560008 |
|
Particular of the
present modification |
NA |
Trade Reference
·
Sangita
·
Patanloon
·
Big Bazar
Fixed Assets
·
Plant and Machinery
·
Vehicles
·
Office Equipment
·
Furniture and Fixture
·
Computers
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] 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.47.46 |
|
UK Pound |
1 |
Rs.83.37 |
|
Euro |
1 |
Rs.64.46 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
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 |
|