MIRA
INFORM REPORT
|
Report Date : |
12.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
TEAM PASONA INDIA COMPANY LIMITED |
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Registered
Office : |
F-127-128, Rectangle 1, D 4, District Centre, Saket, New Delhi-110017 |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of Incorporation
: |
17.10.2006 |
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Com. Reg. No.: |
55-154844 |
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Capital
Investment / Paid-up Capital : |
Rs.33.780
Millions |
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CIN No.: [Company Identification
No.] |
U74910DL2006PLC154844 |
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|
TAN No.: [Tax Deduction & Collection
Account No.] |
DELT06999G |
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PAN No.: [Permanent Account No.] |
AACCT5963E |
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Legal Form : |
A closely held Public Limited Liability Company. |
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Line of Business
: |
Placement Consultant. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (13) |
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The latest
financial of the company are missing from the government department. However,
trade relations are reported as fair. Business is active. Payments are
unknown. The company can be considered for business dealings on a secured trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered / Corporate Office : |
F-127-128, Rectangle 1, D 4, District Centre, Saket, New Delhi-110017,
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Tel. No.: |
91-11-46525252 |
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Fax No.: |
91-11-46525250 |
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E-Mail : |
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Website: |
DIRECTORS
As on 29.09.2010
|
Name : |
Mr. Vipul Kant Upadhyay |
|
Designation : |
Director |
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Address : |
18, |
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Date of Appointment : |
07.05.2007 |
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Din No.: |
00897291 |
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Name : |
Mr. Neerendra Upadhyay |
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Designation : |
Director |
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Address : |
Laturra Hirangaon, Firozabad-383103, |
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Date of Appointment : |
07.05.2007 |
|
Din No.: |
00910670 |
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|
Name : |
Mr. Akemi Aota |
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Designation : |
Director |
|
Address : |
G/F, No. 8, |
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Date of Appointment : |
30.03.2007 |
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Din No.: |
00935524 |
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|
Name : |
Yoshihisa Tani |
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Designation : |
Managing Director |
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Address : |
403 Happiness Motomachi 1 21 9, Motomachi, |
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Date of Appointment : |
30.03.2007 |
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Din No.: |
01266254 |
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|
Name : |
Mr. Rajendra Saluja |
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Designation : |
Director |
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Address : |
B-701, Rose Wood Apartment, Mayur Vihar Phase, I Extension, New
Delhi-110091, |
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Date of Appointment : |
01.04.2008 |
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Din No.: |
02271522 |
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Name : |
Mr. Tsukasa Satao |
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Designation : |
Director |
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Address : |
Room-401, Noah’s |
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Date of Appointment : |
28.05.2009 |
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Din No.: |
02662340 |
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Name : |
Yoshimichi Kawasaki |
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Designation : |
Director |
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Address : |
5-3-13-803, Nishinippori, Apakawa-Ku, |
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Date of Birth: |
08.01.1953 |
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Din No.: |
00985703 |
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|
|
|
Name : |
Tomoyuki Ichikawa |
|
Designation : |
Director |
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Address : |
3-16-1, Kamezawa, Sumida-Ku, |
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Date of Birth: |
25.05.1971 |
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Date of Appointment : |
05.01.2011 |
|
Din No.: |
03361350 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Team India Advisory Limited, |
|
999160 |
|
Ramakant Upadhyay |
|
200 |
|
Shailendra Upadhyay |
|
200 |
|
Vibha Mehra Upadhyay |
|
100 |
|
Nitiraj Singh Oberoi |
|
100 |
|
Pasona Group Inc. |
|
3312179 |
|
Team India Company Limited, |
|
655460 |
|
|
|
|
|
Total |
|
4967399 |
As on 29.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
67.00 |
|
Bodies
corporate |
|
32.99 |
|
Directors
or relatives of directors |
|
0.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Placement Consultant. |
GENERAL INFORMATION
|
Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
MCT House, One Okhla Centre, Block A, Okhla Institutional Area, New
Delhi-110025, |
CAPITAL STRUCTURE
As on 29.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4967399 |
Equity Shares |
Rs.10/- each |
Rs.49.673
Millions |
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3378000 |
Equity Shares |
Rs.10/- each |
Rs.33.780
Millions |
Note: 1722780 (Previous year 1722780) Equity shares
are held by Pasona Inc.,
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
33.780 |
33.780 |
33.780 |
|
|
2] Share Application Money |
2.570 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(31.606) |
(21.217) |
(5.236) |
|
|
NETWORTH |
4.744 |
12.563 |
28.544 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
4.744 |
12.563 |
28.544 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.869 |
6.128 |
0.801 |
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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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|
|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
0.000
|
0.000 |
0.000 |
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|
Sundry Debtors |
2.047
|
0.601 |
0.000 |
|
|
Cash & Bank Balances |
2.209
|
2.100 |
28.021 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
4.257
|
8.051 |
1.029 |
|
Total
Current Assets |
8.513
|
10.752 |
29.050 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3.321
|
1.887 |
0.930 |
|
|
Other Current Liabilities |
2.925
|
1.997 |
0.157 |
|
|
Provisions |
0.392
|
0.433 |
0.220 |
|
Total
Current Liabilities |
6.638
|
4.317 |
1.307 |
|
|
Net Current Assets |
1.875
|
6.435 |
27.743 |
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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TOTAL |
4.744 |
12.563 |
28.544 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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Income |
14.100 |
1.608 |
0.000 |
|
|
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Other Income |
0.250 |
0.000 |
0.000 |
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|
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TOTAL |
14.350 |
1.608 |
0.000 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
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Employee Cost |
11.199 |
8.532 |
3.695 |
|
|
|
Operating and Other Administrative Expenses |
11.998 |
8.073 |
1.309 |
|
|
|
TOTAL |
23.197 |
16.605 |
5.004 |
|
|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(8.847) |
(14.997) |
(5.004) |
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|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.312 |
0.906 |
0.228 |
|
|
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PROFIT / LOSS
BEFORE TAX |
(10.159) |
(15.903) |
(5.232) |
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|
|
|
|
|
|
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|
Less |
TAX |
0.230 |
0.078 |
0.004 |
|
|
|
|
|
|
|
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PROFIT / LOSS
AFTER TAX |
(10.389) |
(15.981) |
(5.236) |
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(21.217) |
(5.236) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(31.606) |
(21.217) |
(5.236) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(3.08) |
(4.73) |
(1.55) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
(72.40)
|
(993.84) |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(72.05)
|
(988.99) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(89.25)
|
(94.21) |
(17.53) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(2.14)
|
(1.27) |
(0.18) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.40
|
0.34 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28
|
2.49 |
22.23 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets:
- Office Equipment
- Furniture and
Fixtures
- Leasehold
Improvements
- Computer
Equipments
- Software
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 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.45.27 |
|
|
1 |
Rs.73.34 |
|
Euro |
1 |
Rs.64.58 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--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 |
|
13 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.