MIRA INFORM REPORT

 

 

Report Date :

22.10.2008

 

IDENTIFICATION DETAILS

 

Name :

MICROPORT INFOTECH PRIVATE LIMITED

 

 

Registered Office :

34, 2nd Floor, Above Goutammotors, St. John’s Road, Bangalore – 560 042, Karnataka

 

 

Country :

India

 

 

Date of Incorporation :

30.07.1998

 

 

Com. Reg. No.:

08-24015

 

 

CIN No.:

[Company Identification No.]

U30006KA1998PTC024015

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRM06684G

 

 

PAN No.:

[Permanent Account No.]

AABCM8923C

 

 

Legal Form :

Private Limited Liability Company  

 

 

Line of Business :

Distributor of Computer Peripherals and Accessories

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

----

 

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Mr. Sunil, Account Manager (080 41299913) failed to update require details during four attempts. Mrs. Sharda and Mr. Janardan of the company also failed to do so.

 

Subject is a dealer for Computer Peripherals. Trade relations are fair. No payment are available.

 

The company is poor in corporate Governance.

 

It can be considered for any business dealings on safe and secured trade terms and conditions, only.

 

 

LOCATIONS

 

Registered Office :

34, 2nd Floor, Above Goutammotors, St. John’s Road, Bangalore – 560 042, Karnataka , India

Tel. No.:

91-80-5553977 / 5301826

Fax No.:

91-80-5564341

 

 

DIRECTORS

 

Name :

Mr. Rakesh Mehta

Designation :

Director

Address :

No. 55/12 Park Castle Residency, Basappa Layout, Bangalore – 560 019, Karnataka, India 

Date of Birth/Age :

07.05.1970

Date of Appointment :

13.07.1998

 

 

Name :

Mrs. Seema Mehta

Designation :

Director

Address :

No. 55/12 Park Castle Residency, Basappa Layout, Bangalore – 560 019, Karnataka, India 

Date of Appointment :

13.07.1998

 

 

Name :

Mr. Goutham Mehta

Designation :

Director

Address :

No. 55/12 Park Castle Residency, Basappa Layout, Bangalore – 560 019, Karnataka, India 

Date of Birth/Age :

01.01.1947

Date of Appointment :

09.05.2002

 

 

Name :

Mrs. Roopa Mehta

Designation :

Director

Address :

No. 55/12 Park Castle Residency, Basappa Layout, Bangalore – 560 019, Karnataka, India 

Date of Birth/Age :

29.11.1974

Date of Appointment :

09.05.2002

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

Names of Shareholders

 

No. of Shares

Mr. Rakesh G Mehta

 

10

 Mrs. Seema Mehta

 

10

 

 

BUSINESS DETAILS

 

Line of Business :

Distributor of Computer Peripherals and Accessories

 

 

GENERAL INFORMATION

 

Financial Institutions :

3i Infotech Trusteeship Services Limited, 3rd to 6th Floor, International Infotech Park, Tower No. 5, Vashi Railway Station Complex, Vashi, Navi Mumbai – 400 703, Maharashtra, India  

 

 

Banking Relations :

Unknown

 

 

Associates/Subsidiaries :

NIL

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

50000

Equity Shares

Rs. 10/- each

Rs. 0.500 million

 

 

Issued, Subscribed & Paid-up Capital :

 

Not Available

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

FINANCIALS:-

 

No financials are available either from Statutory Authority or from company.

 

 

LOCAL AGENCY FURTHER INFORMATION

 

FORM 8:-

 

Corporate identity number of the company

U30006KA1998PTC024015

Name of the company

MICROPORT INFOTECH PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

34, 2nd Floor, Above Goutammotors, St. John’s Road, Bangalore – 560 042, Karnataka , India

This form is for

Creation of charge

Type of charge

·         Book Debts

·         Others

Particular of charge holder

31 Infotech Trusteeship Services limited, 3rd to 6th Floor, International InfoTech Park, Tower No. 5, Vashi Railway Station Complex, Vashi Navi Mumbai – 400 703, Maharashtra, India

 

E-Mail: ananthi.kumar@3i-itsl.com

Nature of instrument creating charge

Deed of hypothecation dated 10.01.2008

Date of instrument Creating the charge

10.01.2008

Amount secured by the charge

Rs. 5.000 millions

Brief of the principal terms an conditions and extent and operation of the charge

Rate of Interest :

 IBAR + 0.50% of Cash Credit Risk Premium - 2.25% (The applicable rate of interest at present is 14.0% p.a)

 

Terms of Repayment :

The facilities are for a period of 12 months, repayable on demand subject to review at periodical intervals.

 

Margin :

NIL

 

Extent and Operation of the charge :

Exclusive first charge by way hypothecation of current assets (including all credit card receivables) both present and future of 3i Infotech Trusteeship Services limited.

Short Particulars of the property charged

Hypothecation by way of exclusive on the current including all credit card receivables both present and future. The details are mentioned in the Schedule II of the Deed of hypothecation. The location is at Bangalore, Karnataka, India

 

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.48.83

UK Pound

1

Rs.85.12

Euro

1

Rs.65.86

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

---

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

---

--CREDIT LINES

1~10

3

--MARGINS

-5~5

---

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

24

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions