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MIRA
INFORM REPORT
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Report Date : |
19.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
INFORMATICS TECHNOLOGIES PRIVATE LIMITED |
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Registered Office : |
303 Harmony Complex, 28 Nutan Bharat Society, Near HDFC Bank Alkapuri,
Baroda – 390005, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
21.09.1993 |
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Com. Reg. No.: |
04-20231 |
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CIN No.: [Company
Identification No.] |
U31100GJ1993PTC020231 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BRDI00140A |
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PAN No.: [Permanent
Account No.] |
AAACI4228B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing IT Solutions |
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 20000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established dealer for company peripherals. Trade relations
are fair. Payments are usually correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
303 Harmony Complex, 28 Nutan Bharat Society, Near HDFC Bank Alkapuri,
Baroda – 390005, Gujarat, India |
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Tel. No.: |
91-265-2322916/ 17 |
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Fax No.: |
91-265-2322918 |
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E-Mail : |
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Website : |
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Gujarat Branch Office : |
G/2 G/3,Vaidarbhi Complex , Near V.V.Nagar Rly
Station , G.I.D.C. Vithal Udyognagar , Anand-388 121, Gujarat, India. |
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Tel. No.: |
91-2692- 233255 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Subharao Penubothu |
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Designation : |
Managing Director |
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Address : |
C-5/6, Avadhu Duplex, Vasana Road, Vadodara – 390015, Gujarat, India |
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Date of Birth/Age : |
02.06.1964 |
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Date of Appointment : |
22.09.1993 |
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Name : |
Mr. Shambhu Sorathia |
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Designation : |
Director |
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Address : |
2/07, Mayur Park Society, Laxmipura, Vadodara – 390016, Gujarat, India |
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Date of Birth/Age : |
26.08.1964 |
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Date of Appointment : |
22.09.1993 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2004)
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Names of Shareholders |
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No. of Shares |
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Umamaheshwararao Penubothu |
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4750 |
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Kishankumar Penubothu |
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5900 |
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Lakshmi Penubothu |
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14400 |
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Thrimurthi Penubothu |
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700 |
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Subbayamma Penubothu |
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10425 |
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Syama Penubothu |
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700 |
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Subbarao Penubothu |
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11125 |
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Devji Sorathia |
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3200 |
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Rekha Sorathia |
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9620 |
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Shambhubhai Sorathia |
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6450 |
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Shamji Sorathia |
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4030 |
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Ajay Sorathia |
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5450 |
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Jyotika Sorathia |
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3250 |
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Total |
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80000 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing IT Solutions |
GENERAL
INFORMATION
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Bankers : |
Alkapuri Branch, Vadodara, Gujarat, India |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Mukund and Rohit Chartered Accountant |
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Address : |
B-8, 2nd Floor, Avishkar Complex, Old, Padra Road, Vadodara
– 390020, Gujarat, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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80000 |
Equity Shares |
Rs.10/- each |
Rs.0.800 Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
0.800 |
0.800 |
0.800 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.942 |
1.988 |
1.379 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.742 |
2.788 |
2.179 |
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LOAN FUNDS |
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1] Secured Loans |
0.435 |
0.561 |
0.975 |
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2] Unsecured Loans |
1.706 |
5.717 |
5.449 |
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TOTAL BORROWING |
2.141 |
6.278 |
6.424 |
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DEFERRED TAX LIABILITIES |
0.020 |
0.071 |
0.120 |
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TOTAL |
5.903 |
9.137 |
8.723 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.806 |
1.958 |
2.360 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
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 |
9.535
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0.525 |
1.941 |
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Sundry Debtors |
6.500
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16.786 |
11.212 |
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Cash & Bank Balances |
0.832
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0.610 |
1.268 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
2.194
|
1.953 |
1.997 |
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Total
Current Assets |
19.061
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19.874 |
16.418 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
14.692
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11.669 |
9.654 |
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Provisions |
0.272
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1.026 |
0.401 |
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Total
Current Liabilities |
14.964
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12.695 |
10.055 |
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Net Current Assets |
4.097
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7.179 |
6.363 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
5.903 |
9.137 |
8.723 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.57
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6.81 |
7.56 |
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Current Ratio (Current Asset/Current Liability) |
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1.27
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1.57 |
1.63 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8: Bankers
Charges Report as per Registry
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Name of the company |
INFORMATICS TECHNOLOGIES PRIVATE LIMITED |
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Presented By |
Mr. Penubothu Uma Maheshwarrao |
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1) Date and description of instrument creating the change |
13th
October 2001- Hypothecation Agreement of Goods and Book Debts “(For
Guarantee)” |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.500 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 the goods and
commodities of the company as well as book debts, money, receivables,
Outstanding claims etc. owing to the company |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interests @
17.75% p.a. |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank Alkapuri Branch,
Vadodara, Gujarat, India |
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6) Date and brief description of instrument modifying the charge |
Nil |
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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. |
Nil |
WEBSITE DETAILS:
Supply Hardware
Products of the following Companies
- ITPAQ Systems
- Samsung
- Acer
- Compaq Systems
- IBM
- Microsoft
- EPSON
- APC
SOLUTIONS:
NETWORK SOLUTIONS:
The services offered
by ITPL in the area of networking are as follows:
- Logical Network Design
- Physical Network Design
- Network Product Specifications
- Acceptance Test Plan
- Project Management
- Equipment Procurement
- Product Integration & Installation
- Acceptance Testing & Certification
They have successfully designed and implemented various
structured cabling projects in large Corporate, Small & Medium Businesses,
and Universities/Colleges etc. with a PC base of 30-250 Machines. All networks
are designed for optimised performance and better bandwidth. Special care is
taken while planning and designing networks to ensure minimum amount of
overheads and keeping Total Cost of Ownership to minimum, and thus giving edge
to price-performance ratio.
For active components (Switches, Hubs, Routers etc.) we have
business tie-ups with CISCO, INTEL,
ACCTON & DLINK to offer the best of the networking products to meet
every organization's requirements. For passive components (Cables, Information
outlets, connectors, patch panels, Racks etc.) they have AVAYA, MOLEX & DLINK.
They provide turnkey projects solutions to their customers
with their value added services. They provide wireless solutions to customers
for higher Internet Bandwidth where ISDN and Lease line facilities are not
available with Radio Links between the customer site and ISP's location. They
also offer point to point or multipoint Video & Audio conferencing
solutions through ISDN and Lease Line connectivity.
SERVICES:
FMS
AND MAINTENANCE
Company takes comprehensive maintenance contract for
corporate houses providing onsite post warranty support for computer systems
and peripherals. Apart from this they take care of Facility management of the
entire customer site including installation and configuration the Computer
systems together with the operating systems and other additional software's
being used by the customer by providing full time resident engineers.
Company has been building up Multi vendor Customer support
skills to facilitate a single support organization to the entire infrastructure
requirements of their customers. A number of service engineers are deployed
across the sites with technical skills to provide prompt and right response to
onsite issues which will guarantee high availability of the systems deployed
and maintained by company.
Company recognizes the importance of highly skilled
engineers to deliver high quality solutions and services to end customers.
Company is employing optimum number of Microsoft Certified, Novell Certified,
Cisco certified engineers apart from various certification from vendors like
Compaq, HP & IBM.
Company has a in-house test and repair center, which take
care of all repairing activities of computer peripherals. We have an inventory
management system carrying sufficient stocks of spares require maintaining the
AMC sites apart from the optimum stocks carried at the customer site.
SERVICE
NETWORK AREA
Company has been providing Warranty and post warranty
support to Corporate customers on a wide geographical area including Surat,
Ankleshwar ,Kosamba .Bharuch, Dahej, Nadiad apart from Baroda and Anand where
they have majority of Installations.
As majority of their installations are in Baroda and its
periphery, this is the area they would like to work. Also due to the proximity
to Bharuch and Ankleswar they can support the corporate clients more
efficiently.
LOCAL
INFRASTRUCTURE
Company has its Main office at 101, R.K.Centre, Fatehgunj
Main Road, Baroda. It has a spacious 2,250 Sq. Ft floor area which houses the
Marketing & Sales division, Accounts department and Service Division apart
from the ITPAQ showroom.
The Service division has a well equipped Test and Repair
center for servicing various multinational systems and peripherals. The service
division operates from the Baroda Office. It has engineer strength of 11
Engineers apart from the resident engineers posted at different Corporate where
Company is having Maintenance Contract.
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.48.68 |
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UK Pound |
1 |
Rs.84.37 |
|
Euro |
1 |
Rs.65.70 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
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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54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
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 |
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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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