MIRA
INFORM REPORT
|
Report Date : |
03.01.2010 |
IDENTIFICATION DETAILS
|
Name : |
GLOBE DETECTIVE AGENCY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
601-603, Eros Apartment, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
01.05.1965 |
|
|
|
|
Com. Reg. No.: |
55-4387 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1965PTC004387 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
DELG00046E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Service Provider for Private Investigation, Industrial Security and
Electronic Security Systems |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 780000 |
|
|
|
|
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. |
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Chatterjee |
|
Designation : |
Accounts Department |
|
Date : |
31.12.2010 |
LOCATIONS
|
Registered Office : |
601-603, Eros Apartment, |
|
Tel. No.: |
91-11-26414860/26432221 |
|
Fax No.: |
91-11-26435112 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5000 sq.ft |
|
Location : |
Rented |
|
|
|
|
Branches : |
#8, 2nd Floor, 4th Cross, 29th Main,
BTM Layout, 2nd Stage, Also located at:
|
DIRECTORS
As On 29.09.2010
|
Name : |
Mr. Sachit Kumar |
|
Designation : |
Director |
|
Qualification : |
M.B.A ( |
|
Date of Appointment : |
01.08.2000 |
|
DIN No. : |
00229679 |
|
|
|
|
Name : |
Mr. Puneet Kumar |
|
Designation : |
Director |
|
Qualification : |
M.B.A ( |
|
Date of Appointment : |
01.04.2003 |
|
DIN No. : |
00229794 |
|
|
|
|
Name : |
Mr. Vivek Kumar |
|
Designation : |
Director |
|
Qualification : |
Graduate |
|
Date of Appointment : |
05.02.1980 |
|
DIN No. : |
00229724 |
KEY EXECUTIVES
|
Name : |
Mr. Chatterjee |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Santosh Kumar |
|
13200 |
|
Vivek Kumar |
|
13166 |
|
Sachet Kumar |
|
13200 |
|
Puneet Kumar |
|
13099 |
|
Benjamin Theogaraj |
|
313 |
|
Renu Kumar |
|
34 |
|
Ruchika Kumar |
|
101 |
|
GDA Securities (P) Limited |
|
11055 |
|
Agri Business Consultants (P) Limited |
|
5 |
|
R. Swaminathan |
|
2 |
|
B.M. Manoharan |
|
2 |
|
Total |
|
64177 |
As On 29.09.2010
|
Category |
Percentage |
|
Bodies corporate |
17.23 |
|
Directors or relatives of Directors |
82.77 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider for Private Investigation, Industrial Security and
Electronic Security Systems |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
835 [35 – In Office + 800 – In
Branches] (approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sekhri and Associates Chartered Accountant |
|
Address : |
104-105, 28 Feroze Gandhi Marg, Lajpat Nagar, |
|
Pan No. : |
AAKFS7206F |
|
|
|
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs. 100/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
64177 |
Equity Shares |
Rs. 100/- each |
Rs. 6.418
Millions |
|
|
|
|
|
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 |
6.418 |
2.418 |
1.418 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
190.975 |
166.849 |
132.731 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
197.393 |
169.267 |
134.149 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3.652 |
4.931 |
1.178 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
3.652 |
4.931 |
1.178 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
201.045 |
174.198 |
135.327 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
29.970 |
25.866 |
24.097 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
32.799 |
34.769 |
27.824 |
|
|
DEFERREX TAX ASSETS |
0.456 |
0.379 |
0.303 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.028
|
3.050 |
1.619 |
|
|
Sundry Debtors |
98.326
|
85.163 |
60.119 |
|
|
Cash & Bank Balances |
52.242
|
30.213 |
28.279 |
|
|
Other Current Assets |
6.784
|
5.303 |
4.536 |
|
|
Loans & Advances |
53.171
|
51.870 |
36.953 |
|
Total
Current Assets |
213.551
|
175.599 |
131.506 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3.032
|
1.681 |
1.117 |
|
|
Other Current Liabilities |
60.199
|
42.234 |
36.286 |
|
|
Provisions |
12.500
|
17.500 |
11.000 |
|
Total
Current Liabilities |
75.731
|
61.415 |
48.403 |
|
|
Net Current Assets |
137.820
|
114.184 |
83.103 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
201.045 |
175.198 |
135.327 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
TOTAL INCOME |
223.228 |
232.707 |
168.953 |
|
|
|
|
|
|
|
|
EXPENSES |
181.375 |
174.772 |
130.894 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
41.853 |
57.935 |
38.059 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.729 |
5.201 |
4.305 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
36.124 |
52.734 |
33.754 |
|
|
|
|
|
|
|
Less |
TAX |
|
17.501 |
11.001 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
35.233 |
22.753 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
7.172 |
5.794 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
2.357 |
1.563 |
Expected Sales (2010-2011): Rs. 1000.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
15.14 |
13.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.83
|
26.17 |
21.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.31 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.40
|
0.39 |
0.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.82
|
2.86 |
2.72 |
LOCAL AGENCY FURTHER INFORMATION
Details of sundry
creditors:
Rs.
In Millions
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
3.032
|
1.681 |
1.117 |
Trade References:
- Havells India
Limited
- Mitsui and
Company
FINANCIAL PERFORMANCE:
There as been substantial increase in total income from during the
current year under report in comparison to the previous year. Moreover there is
substantial increase in income from Investigation from 36.226 millions in the
previous year to 38.223 millions during the year under report and income from
sales of Security Alarm Systems is decreased from 62.970 millions in the
previous year to 38.626 millions during the year under report.
Income from security substantially increased from 118.023 millions in
the previous year to 125.663 millions during the year under report.
Since the company will require the funds for its Factory Premises at
Bommasandra,
WORKING OF THE
COMPANY
The Company has another successful year of business it continued to
carry on the main business activities of acting as detectives and providing
security services to various clients as in the earlier years. On the perusal of
comparative figures mentioned above, it is apparent that there was an overall
improvement in the working results as compared in the earlier years.
Bankers Charges
Report as per Registry
|
Name of the company |
M/s. Globe Detective Agency Private
Limited |
|
Presented By |
M/s. Sundaram Finance Limited, NO. 21, |
|
1) Date and description of instrument creating the change |
Loan agreement
dated 24.10.2005 Cont No. AM –
4247 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Finance
amount Rs. 0.300 Millions Interest Rs. 0.033
Millions Total Repayable
Amount Rs. 0.333 Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
On the security
of 1 No-2005-Model-Hyundai Santro E NO-G4HG5M656069 CH
No-MALAB51HR5M723618H |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rs. 0.333
millions is repayable in 36 monthly installments as under: 1-36 Rs. 0.009 each Rate of
Interest 7.61% 1st
Installments falls due on
24.10.2005 |
|
5) Name and Address and description of the person entitled to the charge. |
M/s. Sundaram
Finance Limited No. 21, |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
|
This form is for |
Modification of
charge |
||||||
|
Charge
identification number of the modified |
90037835 |
||||||
|
Corporate
identity number of the company |
U74899DL1965PTC004387 |
||||||
|
Name of the company
|
GLOBE DETECTIVE
AGENCY PRIVATE LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
601-603 Eros
Apartment, 56 Nehru Palce, |
||||||
|
Type of charge |
Book Debts Movable Property |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Common Hypothecation Agreement Pronote |
||||||
|
Date of
instrument Creating the charge |
02.05.2009 |
||||||
|
Amount secured by
the charge |
Rs. 8.000
Millions |
||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
– Interest @ 13.75%
p.a. (OCC/ODBD-Rs.6.000
millions/ BG-Rs.2.000 millions) Terms of
Repayment – Repayable on Demand Margin – Margin
As Applivable From Bank Extent and
Operation of the charge – 100% Till the Closure of the loan |
||||||
|
Short particulars
of the property charged |
Hypothecation of
all the present and future Stocks of raw materials, Stocks in Process,
Finished and Semi Finished goods, Indigenous and Import Consumables and
Spares, Packing Materials, Book debts, etc. and Collateral Security of Plant
and Machinery, Machinery Spares, Tools and Accessories, Furniture and
Fixtures list enclosed to the agreement, etc. and Equitable Mortgage of Land
and Buildings situated at No.9F, Bommasandra Indl. Area, |
Fixed Assets:
- Goodwill
- Land
- Plant and machinery
- Borewell
- Arms and Weapons
- Furniture and Fixtures
- Office equipments
- Computers
- Vehicles
AS PER WEB SITE DETAILS:
PROFILE:
Globe is the pioneer and the leader in Private Investigation and
Security Solutions in the country. It was founded by late Mr. Prem Kumar in the
year 1961. Under his proficient leadership Globe has now become a legendary
name among the National and Multinational corporate houses in the present
competitive corporate scenario.
Globe has a rare breed of professionals who delivers what commits on
time with utmost confidentiality and secrecy. Globe consistently offers novel
and exclusive solutions to their patrons to fulfill their requirements.
NETWORK
Globe’s all India network anchored by 20 branches has its Head Office at New
Delhi and supported by offices at Ahmedabad, Baroda, Bangalore, Chennai,
Cochin, Coimbatore, Hyderabad, Jamshedpur, Kolkata, Lucknow, Madurai, Mumbai,
Mysore, Pondicherry, Pune, Surat, Tirupur, Trichy and Visakhapatnam. Globe has
never believed in the concept of franchising ad sub-contracting due to issues
relating to confidentiality and quality.
BUSINESS VERTICALS
The three business verticals that the company focuses on are Private
Investigation, Industrial Security and Security Systems.
REGISTRATIONS
- CAPSI Central Association of Private Security Industry
- APDI Association of Private Detectives and Investigations
- WAD World Association of Detectives
- CII Council of International Investigators
- ISO 9001:2000
MANAGEMENT:
Mr. Vivek Kumar
Managing
Director
vivekkumar@globedetective.com
Vivek Kumar obtained his bachelor degree
from the
He started showing his interest and flare for Detection and Security right from
his school days. He started participating in investigations with Senior
Detectives in the fieldwork since 1979 whenever he used to be free from his
educational commitments. He not only gained good experience but over a period
achieved expertise also.
On the sudden demise of his father Mr. Prem Kumar, who was the Founder and
Chairman of Globe in the year 2001, he took on the mantle of the leadership of
Globe at the age of 39. He started off in Globe with a simple Vision – to build
an organization on a foundation of values.
He has a fanatical belief in delivering value to his patrons through quality
service. This belief has made Globe a highly respected, dynamic and innovative
Company among patrons and employees. He equates quality with integrity – both
being non-negotiable.
He is a member of international bodies such as the World Association of
Detectives [WAD] and the Council of International Investigators [CII].
He is a member of national bodies such as Central Association of Private
Security Industry [CAPSI] and Association of Private Detectives and Investigations
[APDI].
He is presently based in Mumbai.
Mr. Sachit Kumar
Director
sachitkumar@globedetective.com
Sachit Kumar is commerce Graduate from
He firmly believes that ordinary people are
capable of extraordinary things. He believes that the key to this is creating
highly motivated teams.
He takes a personal interest in developing competent teams and leaders. He
invests significant time as a faculty in most of the Globe’s leadership
training programs.
He is a member of international bodies such as the World Association of
Detectives [WAD] and the Council of International Investigators [CII].
He is a member of national bodies such as Central Association of Private
Security Industry [CAPSI] and Association of Private Detectives and
Investigations [APDI].
He has been recently awarded as “Investigations - Entrepreneur of the year” by
Mr. Shivraj Patil, who is the honorable Home Minister of the Government of
India, on 14th October 2008 at
He is presently based in
Mr. Puneet Kumar
Director
puneetkumar@globedetective.com
Puneet Kumar is commerce Graduate from
He is also actively looking after Security Systems’ vertical of Globe Detective
Agency with its manufacturing facility at
He is a member of national bodies such as Central Association of Private
Security Industry [CAPSI] and Association of Private Detectives and Investigations
[APDI].
He is presently based in
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.44.81 |
|
|
1 |
Rs.69.28 |
|
Euro |
1 |
Rs.59.81 |
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 |
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 |
|
46 |
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.