MIRA
INFORM REPORT
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Report Date : |
01.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
OPEL IT SERVICES |
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Registered Office : |
Sr. 1/9, Plot No. 3, ‘Omkar’ Labade Colony, Pkarve Nagar, Pune – 411 030,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
April - 2007 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEO01823D |
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PAN No.: [Permanent
Account No.] |
AABFO6133H |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business : |
IT Software Service Provider. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 500 |
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Status : |
New Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new concern and yet to establish track. Partners are
experienced, respectable and having small means of their own. Their trade relations
are fair. No payments records or banking relations are known. The concern can be considered for small business dealings at usual
trade terms and conditions, at present. |
INFORMATION PARTED
BY
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Name : |
Mr. Manoj |
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Designation : |
Partner |
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Contact No.: |
91-9370150520 |
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Date : |
19.08.2008 |
LOCATIONS
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Registered Office : |
Sr. 1/9, Plot No. 3, ‘Omkar’ Labade Colony, Pkarve Nagar, Pune – 411
030, Maharashtra, India |
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Tel. No.: |
91-20-24458682 |
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Mobile No.: |
91-9370150520 |
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E-Mail : |
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Website : |
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Area : |
1500 Sq. ft. |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. Mayuresh Phadke |
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Designation : |
Partner |
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Date of Birth/Age : |
32 Years |
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Qualification : |
M. Tech |
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Experience : |
10 Years |
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Name : |
Mr. Manoj Dharap |
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Designation : |
Partner |
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Date of Birth/Age : |
32 Years |
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Qualification : |
B.E. |
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Experience : |
8 Years |
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Name : |
Mrs. Mansi Dharap |
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Designation : |
Partner |
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Date of Birth/Age : |
30 Years |
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Qualification : |
M. Com |
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Name : |
Mrs. Amrita Phadke |
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Designation : |
Partner |
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Date of Birth/Age : |
30 Years |
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Qualification : |
CA |
BUSINESS DETAILS
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Line of Business : |
IT Software Service Provider. |
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Exports : |
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Products : |
v IT Software
Service Provider. |
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Countries : |
v USA |
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Terms : |
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Selling : |
Credit |
GENERAL
INFORMATION
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Customers : |
v Corporate
Organisation Ø
Eric Structures, Pune, India Ø
La' Venir Consultancy, Pune,
India Ø
Laghu Udyog Bharati,
Pune, India Ø
Microverse, Pune, India Ø
Mind Rising, USA |
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No. of Employees : |
15 |
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Bankers : |
v ICICI Bank Pune – 411 030, Maharashtra, India |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Karmarkar and Company Chartered Accountants |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.100 million |
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Borrowed : |
-- |
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Total : |
Rs. 0.100 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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0.700 |
Expected Sales (2008-09): Rs. 2.500 millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v Law Veera Consultants Private Limited – Pune
v Wave 2 Private Limited – USA
v Mind Rising Private Limited - USA
Trust Seal Acceptance Chart
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Parameters |
Details |
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Existence Verification |
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Name |
Opel IT Services |
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Statutory Approvals |
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Income Tax Registration |
AABFO6133H |
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Name of Bank |
ICICI Bank |
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Current Account Number |
033805002740 |
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Account Since |
April - 2007 |
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Credibility Factors |
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India Mart Client Since |
1.5 Years |
As Per Website Details
Subject has been formed to provide services in the areas of database application, community website, ecommers application development. They also undertake software outsourcing and testing projects.They are associated with DCS and instruments manufacturing companies for software support.
The concern was started in Feb 2006. They have successfully executed number of projects.The concern is co-founded by Manoj Dharap and Mayuresh Phadke.
Manoj is the CEO of Opel IT Services. Manoj has good exposure to software development, offshore software services,instrumentation software solutions and testing, having developed packages for inventory control and payroll processing in-house for Opel Proscro.
Mayuresh is the Technical Director of Opel IT Services. Mayuresh holds the M.Tech. Computer Science from IIT Mumbai. He has been working in software development for 7 years. He has good experience of handling projects with offshore clients.
The concern has the ability to work from a set of high level requirements, analyze them and present a detailed plan and work according to it. They specialize in developing complex websites with backend developed in .Net or Java.
Services
They provide a
comprehensive website design service for both small businesses and corporate
organisations.
The work varies
from catalog style websites, to database driven e-commerce solutions.
They work closely
with the clients throughout the web site development process to ensure that
they are completely satisfied with the end result.
Unlike many other
companies, they do not use template designs for the clients.
They recognise
that each client has individual requirements and tailor the services
accordingly.
The Skillset:
Languages: Databases:
ASP.NET MS SQL
Python My SQL
PHP SQLite3
DotNetNuke DB4O
Joomla
Django
Projects
v
LazyFilm
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 :
The 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.
The 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 44.21 |
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UK Pound |
1 |
Rs. 79.76 |
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Euro |
1 |
Rs. 64.72 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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26 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
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