MIRA
INFORM REPORT
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Report Date : |
19.08.2011 |
IDENTIFICATION DETAILS
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Name : |
MAI TAI INFOTECH PRIVATE LIMITED |
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Registered
Office : |
117, Mahavir Industrial Estate, Near Paper Box, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
24.12.2009 |
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Com. Reg. No.: |
11-198108 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U74990MH2009PTC198108 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Suppliers of Laptop Batteries, Laptop Adaptors, Laptop Motherboards,
Lcd Screens, Led Screens, Optical Drives, Keypads, Hinges, Power Invertors,
etc. |
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No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 400 |
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Status : |
New Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company establishing itself gradually.
Trade relations are reported as fair. Business is active. Payments are
reported to be slow. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
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Name : |
Ms. Meghna |
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Designation : |
Accounts Manager |
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Date : |
17.08.2011 |
LOCATIONS
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Registered Office : |
117, Mahavir Industrial Estate, Near Paper Box, Mahakali Caves Road,
Andheri East, Mumbai-400093, Maharashtra, India |
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Tel. No.: |
91-22-40155401/2/3/4 |
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Fax No.: |
91-22-26879676 |
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E-Mail : |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Mayank Deenbandhu Shah |
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Designation : |
Director |
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Address : |
A/203, Darshana, 2nd Floor, |
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Date of Birth/Age : |
30.07.1965 |
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Date of Appointment : |
24.12.2009 |
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Din No.: |
00241256 |
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Name : |
Mr. Champakraj Juharmal Hansaji Gurjar |
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Designation : |
Director |
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Address : |
26, |
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Date of Birth/Age : |
23.04.1956 |
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Date of Appointment : |
24.12.2009 |
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Din No.: |
01712070 |
KEY EXECUTIVES
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Name : |
Ms. Meghna |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Mayank Deenbandhu Shah |
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100 |
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Apricot Investment Advisors Private Limited, |
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4800 |
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Maxtone Electronics Private Limited, |
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5100 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Suppliers of Laptop Batteries, Laptop Adaptors, Laptop
Motherboards, Lcd Screens, Led Screens, Optical Drives, Keypads, Hinges,
Power Invertors, etc. |
GENERAL INFORMATION
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No. of Employees : |
Information denied by the management. |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
N.D. Shah and Associates Chartered Accountant |
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Address : |
3, Jay Sadguru Gajanan Society, |
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Tel. No.: |
91-22-26126565/66 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.019 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.119 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.552 |
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TOTAL BORROWING |
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0.552 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.671 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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2.321 |
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Sundry Debtors |
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8.464 |
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Cash & Bank Balances |
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0.612 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.111 |
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Total
Current Assets |
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11.508 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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10.682 |
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Other Current Liabilities |
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0.000 |
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Provisions |
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0.171 |
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Total
Current Liabilities |
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10.853 |
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Net Current Assets |
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0.655 |
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MISCELLANEOUS EXPENSES |
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0.016 |
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TOTAL |
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0.671 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2010 |
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Gross Receipts |
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8.632 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
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0.027 |
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Less |
FINANCIAL
EXPENSES |
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0.000 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
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0.027 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
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0.000 |
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PROFIT BEFORE
TAX |
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0.027 |
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Less |
TAX |
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0.008 |
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PROFIT AFTER TAX
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0.019 |
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Earnings Per
Share (Rs.) |
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1.88 |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.23 |
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Return on Investment (ROI) (PBT/Networth) |
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0.23 |
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Debt Equity Ratio (Total Liability/Networth) |
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95.84 |
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Current Ratio (Current Asset/Current Liability) |
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1.06 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
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Particulars |
31.03.2010 (Rs. in millions) |
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Sundry Creditors |
10.682 |
PARTIAL DETAILS OF
SUNDRY CREDITORS:
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Particulars |
31.03.2010 (Rs. in millions) |
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Sundry Creditors For Goods |
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Ingram Micro India
Limited |
7.100 |
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JNR Management
Resources Private Limited |
0.215 |
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Maxtone
Electronics Private Limited |
1.212 |
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Nextex |
1.400 |
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Qureshi Noorjahan
Md. Umer |
0.676 |
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Sundry Creditors For Expenses |
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Deepak Bhopwanshi
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0.000 |
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Fasser N Delurg
Courier and Cargo |
0.010 |
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Sunil R.
Kudtarkar |
0.000 |
OPERATIONS:
In the year the gross total receipt was Rs.8.632 millions and the profit
after tax was Rs.0.019 million.
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 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.45.61 |
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|
1 |
Rs.75.32 |
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Euro |
1 |
Rs.65.68 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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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 |
2 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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 |
|
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
|
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 |
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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 |
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 |
|
<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.