MIRA
INFORM REPORT
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Report Date : |
08.12.2011 |
IDENTIFICATION DETAILS
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Name : |
ADVANTEDGE TECHNOLOGIES PRIVATE LIMITED (w.e.f. 07.06.2010) |
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Formerly Known
As : |
TELSTRA TECHNOLOGIES PRIVATE LIMITED |
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Registered Office
: |
11/12/13A, 2nd Floor, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
13.01.2006 |
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Com. Reg. No.: |
11-158882 |
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Capital
Investment / Paid-up Capital : |
Rs.0.460 Million |
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CIN No.: [Company Identification
No.] |
U64202MH2006PTC158882 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT14471C |
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PAN No.: [Permanent Account No.] |
AACCT4363N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of EPABX Systems. |
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 40000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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 dealing at usual
trade terms and conditions. Profit and loss account 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.
INFORMATION PARTED BY
|
Name : |
Ms. Prachi |
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Designation : |
Senior Accountant |
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Contact No.: |
91-22-42504202 |
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Date : |
07.12.2011 |
LOCATIONS
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Registered Office : |
11/12/13A, 2nd Floor, |
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Tel. No.: |
91-22-28737474/ 42504250 |
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Fax No.: |
91-22-28737474/ 42504216 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Warehouse : |
Sector 48, Adarsh Market, Gala No.36, 1st Floor, Nerul
(West), Navi Mumbai, |
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Location : |
Rented |
DIRECTORS
As on 29.09.2011
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Name : |
Mr. Ashok Prabhakaran Nair |
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Designation : |
Director |
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Address : |
Flat No.710, 7th Floor, C Wing, Radha Raman Apartment,
Kandarpada, Dahisar (West), Mumbai – 400 068, |
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Date of Birth/ Age: |
20.01.1969 |
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Qualification : |
Diploma Engineering |
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Date of Appointment: |
13.01.2006 |
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DIN No.: |
02531750 |
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Name : |
Mr. Subhash Brijkishore Bajaj |
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Designation : |
Director |
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Address : |
Flat No.102, 1st Floor, No.8, Siddhachal Phase – II, |
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Date of Birth/ Age: |
09.06.1968 |
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Qualification : |
B. Tech |
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Date of Appointment: |
13.01.2006 |
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DIN No.: |
02531787 |
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Name : |
Mr. Padamkumar Vashumal Sachdev |
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Designation : |
Director |
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Address : |
B-206, Himgiri, 1st |
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Date of Birth/ Age: |
29.08.1973 |
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Qualification : |
B.Com |
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Date of Appointment: |
13.01.2006 |
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DIN No.: |
02532101 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
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Names of Shareholders |
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No. of Shares |
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Padamkumar Vashumal Sachdev |
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15333 |
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Ashok Prabhakaran Nair |
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15333 |
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Subhash Brijkishore Bajaj |
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15334 |
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Total |
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46000 |
As on 29.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of EPABX Systems. |
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Imports : |
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Products : |
EPABX Systems |
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Countries : |
v
v
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Terms : |
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Selling : |
Cash, Credit (30 days) and Advance/ Cheque |
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Purchasing : |
L/C and Credit (30 days) |
GENERAL INFORMATION
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Suppliers : |
v Smart-I Electronics Systems Private Limited v Siemens Limited |
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Customers : |
End Users and Dealers v Axis Bank Limited v Mahindra Finance Private Limited v Pantaloon Retail India Limited v Bharti Airtel Limited |
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No. of Employees : |
60 (Approximately) |
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Bankers : |
v
The Shamrao Vithal Co-Operative Bank Limited, 12,
Udyog Nagar, Time Star Building, S.V. Road, Goregaon (West), Mumbai – 400
062, Maharashtra, India v
Kotak Mahindra Bank, Goregaon Market,
Mumbai, |
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Facilities : |
Cash Credit – Rs.10.000 millions (The Shamrao
Vithal Co-Operative Bank Limited)
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Arvind Mahajan and Associates Chartered Accountants |
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Address: |
A/115, Amar Gian Industrial Estate, Opposite S.T. Workshop, Khopat,
Thane (West), Thane – 400 601, |
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Tel No.: |
91-22-65126777 |
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Mobile No.: |
91-9821123830 |
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E mail: |
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Income-tax
PAN of auditor or auditor's firm : |
AFOPM0594E |
CAPITAL STRUCTURE
As on 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
46000 |
Equity Shares |
Rs.10/- each |
Rs.0.460 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.460 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
9.651 |
6.141 |
4.312 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
10.111 |
6.241 |
4.412 |
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LOAN FUNDS |
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1] Secured Loans |
6.628 |
4.676 |
5.830 |
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2] Unsecured Loans |
1.765 |
2.985 |
1.565 |
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TOTAL BORROWING |
8.393 |
7.661 |
7.395 |
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DEFERRED TAX LIABILITIES |
0.080 |
0.076 |
0.029 |
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TOTAL |
18.584 |
13.978 |
11.836 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.270 |
1.432 |
1.589 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
2.282 |
1.845 |
1.467 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
4.025
|
2.802 |
3.486
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Sundry Debtors |
25.689
|
23.641 |
19.774
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Cash & Bank Balances |
0.348
|
0.425 |
0.627
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Deposites |
0.429
|
0.306 |
0.312
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Loans & Advances |
1.366
|
1.603 |
1.769
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Total
Current Assets |
31.857
|
28.777 |
25.968 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
12.316 |
15.672 |
14.751
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Other Current Liabilities |
0.013
|
0.013 |
0.000
|
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Provisions |
4.496
|
2.391 |
2.437
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Total
Current Liabilities |
16.825
|
18.076 |
17.188 |
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Net Current Assets |
15.032
|
10.701 |
8.780
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
18.584 |
13.978 |
11.836 |
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Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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Sales Turnover (Approximately) |
113.600 |
88.000 |
80.000 |
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Expected Sales (2011-2012): Rs.200.000 millions
The above information has been parted by Ms. Prachi (Senior Accountant).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.49 |
4.12 |
5.57
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Current Ratio (Current Asset/Current Liability) |
|
1.89 |
1.59 |
1.51
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LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report (Yes / No) |
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1) Year of
Establishment |
Yes |
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2) Locality of
the firm |
Yes |
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3) Constitutions of
the firm |
Yes |
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4) Premises
details |
Yes |
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5) Type of
Business |
Yes |
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6) Line of
Business |
Yes |
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7) Promoter’s
background |
-- |
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8) No. of
employees |
Yes |
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9) Name of person
contacted |
Yes |
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10) Designation
of contact person |
Yes |
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11) Turnover of
firm for last three years |
Yes |
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12) Profitability
for last three years |
Yes |
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13) Reasons for
variation <> 20% |
-- |
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14) Estimation
for coming financial year |
Yes |
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15) Capital in
the business |
Yes |
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16) Details of sister
concerns |
-- |
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17) Major
suppliers |
Yes |
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18) Major
customers |
Yes |
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19) Payments
terms |
Yes |
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20) Export /
Import details (if applicable) |
Yes |
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21) Market
information |
-- |
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22) Litigations
that the firm / promoter involved in |
-- |
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23) Banking
Details |
Yes |
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24) Banking
facility details |
Yes |
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25) Conduct of
the banking account |
-- |
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26) Buyer visit
details |
-- |
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27) Financials,
if provided |
No |
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28) Incorporation
details, if applicable |
-- |
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29) Last accounts
filed at ROC |
-- |
|
30) Major
Shareholders, if available |
-- |
Details of Sundry Creditors:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
- For Expenses |
0.512 |
|
14.751 |
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- For Goods and
Services |
11.804 |
15.500 |
|
|
|
12.316 |
15.672 |
14.751 |
Note:
The registered office of the company has been shifted from 5, Rabia Manzil, 1st Floor,
Dawood Baug, Off J.P. Road, Andheri (West), Mumbai – 400 058, Maharashtra,
India, to the present address w.e.f. 15.06.2010.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U64202MH2006PTC158882 |
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Name of the
company |
TELSTRA TECHNOLOGIES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
5 Rabia Manzil, |
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This form is for |
Creation of
charge |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
The Shamrao Vithal Co-Operative Bank Limited, 12, Udyog Nagar, Time Star
Building, S.V.Road, Goregaon (West), Mumbai-400062, Maharashtra, India |
|
Nature of
instrument creating charge |
Composite
Hypothecation Agreeement |
|
Date of
instrument Creating the charge |
03.11.2008 |
|
Amount secured by
the charge |
Rs. 4.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest CC of Rs. 4.000
Millions : 15% p.a. or such other rates as may be fixed by the bank from time
to time LC Import of Rs.
2.500 Millions (Sub- Limit of CC) : Service charges as applicable to import
LC Margin Margin: 25% on
Stock and Book Debts Extent and
Operation of the charge To secure the due
repayment of Cash Credit facility of Rs. 4.000 Millions, together with interest,
charges, costs, penal interest, etc. thereon, granted by the bank to the
company and Letter of Credit Import facility of Rs. 2.500 Millions (Sub-Limit
of cash Credit facility) Interchangeable with cash credit limit granted by
the bank to the company |
|
Short particulars
of the property charged |
Stocks of raw
materials, Goods-in-process of manufacturer and all finished and manufactured
goods and articles such as matrix PB systems, cooper fire alarm systems,
cameras, RFID readers, primotric reader. All, present and
future, book-debts, outstanding monies, receivables, claims, bills, right to
or in movable properties and movable assets of the company All the plant and
machinery, other assets etc and all other tangible movable assets, furniture,
fixtures, fittings, etc. |
TRADE REFERENCES:
v Smart-I Electronics Systems Private Limited
v Siemens Limited
v Axis Bank Limited
v Mahindra Finance Private Limited
v Pantaloon Retail India Limited
v Bharti Airtel Limited
FIXED ASSETS:
·
Motor Car
·
Computers
·
Furniture and Fixtures
·
Office Equipments
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.51.45 |
|
|
1 |
Rs.80.38 |
|
Euro |
1 |
Rs.69.12 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
5 |
|
--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 |
|
45 |
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.