MIRA
INFORM REPORT
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Report Date : |
10.01.2011 |
IDENTIFICATION DETAILS
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Name : |
LAETUS EDUCATION PRIVATE LIMITED |
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Registered
Office : |
# 636, 3rd Block, 3rd Stage, |
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Country : |
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Date of
Incorporation : |
15.01.2010 |
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Com. Reg. No.: |
052196 |
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CIN No.: [Company Identification
No.] |
U80903KA2010PTC052196 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
BLRL03015F |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
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Providing Education Services. |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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- |
NB |
New Business |
- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a news company and yet to establish satisfactory track.
Business is active. Payment terms are unknown. The company can be considered for business dealings on a secured trade
terms and conditions, initially. |
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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
INFORMATION PARTED BY
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Name : |
Mr. Chetan |
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Designation : |
H R Recruiter |
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Contact No.: |
91-9243566128 |
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Date : |
08.01.2011 |
LOCATIONS
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Registered Office : |
# 636, 3rd Block, 3rd Stage, |
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Tel. No.: |
91-80-65682100 |
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Mobile No.: |
91-9243566128 (Mr. Chetan ) |
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Fax No.: |
91-80-65682100 |
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E-Mail : |
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Website : |
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Area : |
5000 sq.ft. (Owned) |
DIRECTORS
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Name : |
Mr. Kumarappa Kiran Kumar |
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Designation : |
Founder and Chief Executive Officer, Managing Director |
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Address : |
No. 240, Gunderi-2, Holalkere, Chitradurga-577526, |
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Date of Birth/Age : |
25.02.1977 |
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Name : |
Mr. Jagdeesh Sampalli |
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Designation : |
Director- Programmes |
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Name : |
Mr. Kashinath Om |
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Designation : |
Director Principal Advisor |
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Name : |
Mr. Ravi Kumar |
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Designation : |
Director |
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Name : |
Ms. Uma Kiran |
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Designation : |
Administrator and Whole Time Director |
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Address : |
No. 240, Gunderi-2, Holalkere, Chitradurga-577526, |
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Date of Birth/Age : |
22.07.1979 |
KEY EXECUTIVES
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Name : |
Mr. Chetan |
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Designation : |
H R Recruiter |
BUSINESS DETAILS
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Line of Business : |
Providing Education Services. |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
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No. of Employees : |
Approximately 22 (In Office) |
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Bankers : |
HDFC Bank Limited, Hayangar, |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Finlay Consultants Chartered Accountant |
CAPITAL STRUCTURE
Authorised Capital : Rs. 0.100 Million
Issued, Subscribed & Paid-up Capital : Rs. 0.100
Million
FINANCIAL DATA
[all figures are
in Rupees Millions]
New Company
LOCAL AGENCY FURTHER INFORMATION
Note:
The Registered office of the company has been shifted from # 17, 1st
Floor, 6th Main KHB Colony, Basaveshwara Nagar, Bengaluru-560079,
AS PER WEBSITE
Profile:
Subject is a supplementary education provider based
in Bangaluru, Karnataka. After nine years of conducting extensive research and
testing in rural and urban schools, Laetus Education has launched several
products and services. These products and services offer a comprehensive set of
tools that enhance the educational goals of both schools and students. The
Laetus Education system supplements the formal education of K-12 students by
improving their communicative skills in English. This enables them to perform
better not just in their schoolwork but also in day-to-day life.
Laetus Education’s unique and
innovative methodology incorporates activity-based tasks that reinforce
students’ cognitive development at a subconscious level. To monitor the
students’ progress, there is a continuous evaluation at the micro level. Laetus
Education’s system offers programs that integrate teachers and school managers
into a student’s education in a meaningful way.
Company Profile:
Subject is a supplementary education provider based
in Bangaluru, Karnataka. After nine years of conducting extensive research and
testing in rural and urban schools, Laetus Education has launched several
products and services. These products and services offer a comprehensive set of
tools that enhance the educational goals of both schools and students. The
Laetus Education system supplements the formal education of K-12 students by
improving their communicative skills in English. This enables them to perform
better not just in their schoolwork but also in day-to-day life.
Subject’s unique and innovative methodology
incorporates activity-based tasks that reinforce students’ cognitive
development at a subconscious level. To monitor the students’ progress, there
is a continuous evaluation at the micro level. Laetus Education’s system offers
programs that integrate teachers and school managers into a student’s education
in a meaningful way.
Subject has developed several programmes over the
years which have been quintessential for the educational institutions,
individual students, companies, parents, teachers and employees of several
organisations.
Laetus Communicative English (Laetus CE) - Becoming fluent
in English is the students’ goal; Laetus CE enables them to attain that goal.
In addition to the programme itself, the Laetus CE system also incorporates the
support of classroom activities, campus activities and technology. Schools in
eight states have currently adopted Laetus CE making it
Laetus Concept Classrooms - Laetus Concept Classrooms address some
core problems found in traditional schools. It is radical in nature and
involves 100% student-centered classroom strategies, ICT, technology integrated
and cooperative learning. Concept Classrooms provide lifetime solutions to
chronic problems in education systems.
Laetus Adult Learning Programme - Laetus Adult English teaches customized
spoken English skills for adult learners to enable them to succeed in their
professions. With varied levels and technological training modules, Laetus
Adult English helps adult learners learn English with ease.
Laetus Parents Training and Counselling Programme - is an
intervention programme to guide the parents about how to groom their children
and how to correct themselves.
Management Team
Kiran Kumar Kumarappa, Founder and CEO
Kiran brings in more than 10 years of professional experience in
Communicative English training and research. He is an educational entrepreneur,
founder of IICE and has managed more than hundred schools under Communicative
English programme. His out of the box thinking and innovative experiments have
yielded in evolving, designing and developing Laetus Teaching Techniques
(LTT). Kiran, in the past, has worked with Ness Technologies, Sasken Network
Engineering Limited, Cranes Software and Ascendum Systems. Kiran is a Freelance
Journalist, Creative Writer, and has translated Lohia’s works for Karnataka
Government. He is a postgraduate from
Jagadeesh Sampalli, Director- Programmes
Jagadeesh is a post graduate in English from
Uma Kiran, Administrator
Uma has been instrumental in all the administrative works of IICE right
from the inception. She is a post graduate in Political Science from
Kashinath C M (Sanketh Kashi) Director and Principal Advisor
Sanketh Kashi is a prominent film actor and theatre personality. Kashi
has the experience of working with rural schools for over 7 years employing
theatre skills and games to make children love school and learn joyously. He
has helped teachers of the schools to build a student friendly nature. He
brings in his image, contacts and vision of changing society in to Laetus and he
leads the Advisory Team.
Core Team
Ashika Bheemaiah
Ashika is a graduate in commerce and an English teacher by profession.
She has been a research associate since IICE’s inception. She is strong in analyzing
the children’s learning capabilities and designing activities for young
learners.
Tina Shashikanth
Tina is a research scholar, writer and an eminent academician. She has
the mastery over language teaching principles, techniques designed by IICE. She
brings a good deal of academic connections to Laetus Education.
Ravikumar B V
Archana Prashanth
Archana has been a trainer and a counsellor for more than 6 years and
has worked in several positions. She has commendable managerial skills and has
managed large teams. Archana is a commerce graduate and leads the trainings
division of Laetus Education.
Advisory committee
The following distinguished educationists, education entrepreneurs and
special contributors are supporting them with their valuable inputs and
guidance.
·
Dr. Sujendra Prakash,
Scientist, Supra Therapy,
·
Ms Julie Hurley McIsaac,
Cognitive therapist,
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Prof. C G Dinesh, President, Anmol Education
Society.
·
Nagesh Kalenahalli, Director, The Volunteers and
Mr. Kishore Sharma, Principal, Mahatma Vidyalaya,
News:
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Current Standing:Laetus Education is providing the services to
9 schools and 5000 plus students this academic year. Laetus Education's team is
overwhelmed by the results and responses students, parents and educational
institutions are showing .
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Current Standing:Laetus Education is expanding the business
in
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Laetus Education started a Laetus Help Desk to
provide ease of service to all the schools, students and associates. Students,
Parents, teachers of schools, School Managements can reach Laetus Help Desk by
phone on +91 9886083025 or through an email: helpdesk@laetuseducation.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.37 |
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1 |
Rs.70.04 |
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Euro |
1 |
Rs.58.93 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.