MIRA INFORM REPORT

 

 

Report Date :

01.12.2011

 

IDENTIFICATION DETAILS

 

Name :

CONFERENCES AND INCENTIVES MANAGEMENT (INDIA) PRIVATE LIMITED

 

 

Registered Office :

C-1/D, First Floor, Green Park Extension, New Delhi – 110016

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

06.03.1997

 

 

Com. Reg. No.:

55-085631

 

 

Capital Investment / Paid-up Capital :

Rs.0.400 Million

 

 

CIN No.:

[Company Identification No.]

U91120DL1997PTC085631

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Conference Organizer and Destination Management Company.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

STATUS

PROPOSED CREDIT LINE

 

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Maximum Credit Limit :

USD 80000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments.

 

The company can be considered normal for business dealings at usual trade terms and conditions.

 

Profit and Loss of the company is not available.

 

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

India

A1

A1

 

 

 

 

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INFORMATION DECLINED BY

 

Name :

Mr. Daniel

Designation :

HR Department and Admin.

Date :

30.11.2011

 

 

LOCATIONS

 

Registered Office :

C-1/D, First Floor, Green Park Extension, New Delhi – 110016, India

Tel. No.:

91-11-46184400-500/ 26536075

Fax No.:

91-11-26536086

E-Mail :

sharma.2595@gmail.com

info@cimglobal.net

Website :

http://www.cimindia.net

 

 

National Office :

Located at:

 

·         New Delhi

·         Gurgaon

·         Hyderabad

·         Bangalore

·         Kolkata

·         Mumbai

·         Jaipur

·         Chennai

 

 

International Office :

Located at:

 

·         Dubai

·         Singapore

 

 

DIRECTORS

 

(AS ON 29.09.2010)

 

Name :

Mr. Prasant Saha

Designation :

Director

Address :

C-4/118, Safdarjung Development Area, 2nd Floor, New Delhi – 110016, India

Date of Birth/Age :

17.05.1967

Date of Appointment :

06.03.1997

DIN No.:

01984946

Other Directorship :

 

 

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Company Status

Defaulting status

1

U91120DL1997PTC085631

CONFERENCES AND INCENTIVES MANAGEMENT (INDIA) PRIVATE LIMITED

Director

6/3/1997

6/3/1997

Active

NO

2

U74140DL2008PTC178203

ASSOCIATION MANAGEMENT INITIATIVES PRIVATE LIMITED

Director

16/05/2008

16/05/2008

Active

NO

 

 

Name :

Mrs. Sudipa Saha

Designation :

Director

Address :

C-4/118, Safdarjung Development Area, 2nd Floor, New Delhi – 110016, India

Date of Birth/Age :

19.09.1975

Date of Appointment :

12.01.1998

DIN No.:

01984963

Other Directorship :

 

 

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Company Status

Defaulting status

1

U91120DL1997PTC085631

CONFERENCES AND INCENTIVES MANAGEMENT (INDIA) PRIVATE LIMITED

Director

12/1/1998

12/1/1998

Active

NO

2

U74140DL2008PTC178203

ASSOCIATION MANAGEMENT INITIATIVES PRIVATE LIMITED

Director

16/05/2008

16/05/2008

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Daniel

Designation :

HR Department and Admin.

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

(AS ON 29.09.2010)

 

Names of Shareholders

 

No. of Shares

 

 

 

 

Prasant Saha

 

20000

Neeharika Naidu

 

10

Sudipa Saha

 

19990

 

 

 

Total

 

 

40000

 

 

(AS ON 29.09.2010)

Equity Shares Break –up

 

Category

 

 

Percentage

 

 

 

Directors or relatives of directors

 

100.00

 

 

 

Total

 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Conference Organizer and Destination Management Company.

 

 

GENERAL INFORMATION

 

No. of Employees :

Not Available

 

 

Bankers :

Syndicate Bank

 

 

Facilities :

Secured Loans

31.03.2010

31.03.2009

 

 

(Rs. In Millions)

 

 

 

From Syndicate Bank

14.387

0.000

 

 

 

Total

 

14.387

0.000

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

K. K. Paul and company

Chartered Accountant

Address :

I-1747, Chittaranjan Park, New Delhi – 110019, India

PAN No.:

AAHPP3040J

 

 

CAPITAL STRUCTURE

 

(AS ON 29.09.2010)

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100000

Equity Share

Rs.10/- each

Rs.1.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

40000

Equity Share

Rs.10/- each

Rs.0.400 Million

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2010

31.03.2009

31.03.2008

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

0.400

0.400

0.400

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

18.594

16.916

11.029

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

18.994

17.316

11.429

LOAN FUNDS

 

 

 

1] Secured Loans

14.387

0.000

0.123

2] Unsecured Loans

0.000

0.000

0.000

TOTAL BORROWING

14.387

0.000

0.123

DEFERRED TAX LIABILITIES

0.000

0.016

0.000

 

 

 

 

TOTAL

33.381

17.332

11.552

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

32.570

5.581

4.256

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.200

4.904

11.303

DEFERREX TAX ASSETS

0.076

0.000

0.005

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
0.000

0.000

0.000

 

Sundry Debtors
1.714

0.797

0.478

 

Cash & Bank Balances
1.021

11.887

6.435

 

Other Current Assets
0.361

0.382

3.652

 

Loans & Advances
16.740

11.667

2.704

Total Current Assets
19.836

24.733

13.269

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditor
6.396

6.351

4.007

 

Other Current Liabilities
8.666

5.329

9.225

 

Provisions
4.239

6.206

4.049

Total Current Liabilities
19.301

17.886

17.281

Net Current Assets
0.535

6.847

(4.012)

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

33.381

17.332

11.552

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
1.77

1.03

1.52

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.03

1.38

0.77

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

WEBSITE DETAILS:

 

PROFILE:

 

Subject prides itself on being a leader in the Indian MICE industry. The past 10 years of business, they have been fortunate to have grown with, and led changes in the meeting management industry in India. He unparalleled success is built on the long term commitment to deliver top notch services in the niche area of MICE. The company’s impressive credentials include;

 

 

·         Total Meeting Management Services (TMMS) for over 50 International and National conferences as a Professional Conference Organiser (PCO) to its credit with delegates ranging from 100 to 10000 in widely diversified fields such as Aeronautics, Automobile, Agriculture Engineering, Medical, Textile, Telecommunication and Sugar Technology.

 

·         Incentive Travel Tours and Programmes for both domestic and International Destinations.

 

·         Exhibition Representation and Management Services for leading International Exhibitions and Event Producers like IIR (IPEX and APEX).

 

·         Corporate Brand Events delivered by CIM’s International Business Events (IBE) division.

 

 

 

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.52.17

UK Pound

1

Rs.81.29

Euro

1

Rs.69.47

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

7

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--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

 

48

 

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

 

-

 

 

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.