MIRA
INFORM REPORT
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Report Date : |
25.06.2011 |
IDENTIFICATION DETAILS
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Name : |
MEGA NETWORKS PRIVATE LIMITED |
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Registered
Office : |
507-508, 5ht Floor, Corporate Centre, Nirmal Life Styles, L.B.S. Marg,
Mulund West, Mumbai – 400080, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
11.08.1997 |
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Com. Reg. No.: |
11-109984 |
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Paid-up Capital
: |
Rs. 9.540 Millions |
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CIN No.: [Company Identification
No.] |
U72200MH1997PTC109984 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM25403A |
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PAN No.: [Permanent Account No.] |
AAACM9782E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Distributor and Importer of Computer Peripheral and Network Systems |
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No. of Employees
: |
25 (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 65000 |
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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 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.
INFORMATION PARTED BY
|
Name : |
Ms. Aarti |
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Designation : |
HR Executive |
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Date : |
24.06.2011 |
LOCATIONS
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Registered Office : |
507-508, 5ht Floor, Corporate Centre, Nirmal Life Styles, L.B.S. Marg,
Mulund West, Mumbai – 400080, Maharashtra, India |
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Tel. No.: |
91-22-25628282/25628383/25628384 |
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Fax No.: |
91-22-25628385 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branches : |
Located at:
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International Office : |
Meganet
Technologies Inc. PMB#6327, 277, |
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Tel. No.: |
1(302)2615400 |
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E-mail : |
DIRECTORS
As On 30.09.2010
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Name : |
Mr. Amrish Dulraj Pipada |
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Designation : |
Director |
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Address : |
C/26, Indraprastha CHS Limited, Sarvodya Nagar, Jain Mandir Road,
Mulund (West), Mumbai – 400080, Maharashtra, India |
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Date of Birth/Age : |
28.08.1967 |
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Date of Appointment : |
11.08.1997 |
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DIN No.: |
00749838 |
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Name : |
Mrs. Sangeeta Amrish Pipada |
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Designation : |
Director |
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Address : |
C/26, Indraprastha CHS Limited, Sarvodya Nagar, Jain Mandir Road,
Mulund (West), Mumbai – 400080, Maharashtra, India |
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Date of Birth/Age : |
05.10.1971 |
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Date of Appointment : |
11.08.1997 |
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DIN No.: |
02454414 |
KEY EXECUTIVES
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Name : |
Ms. Aarti |
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Designation : |
HR Executive |
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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Amrish Dulraj Pipada |
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468000 |
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Sangeeta Amrish Pipada |
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468000 |
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Hingora Finvest Private Limited – |
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6000 |
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Clifton Securities Private Limited – |
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5000 |
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Oshin Investment and Finance Private Limited – |
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7000 |
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Total |
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954000 |
As On 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Distributor and Importer of Computer Peripheral and Network Systems |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Depend |
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Purchasing : |
Depend |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
25 (approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Harish Hegde and Company Chartered Accountant |
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Address : |
D-211, Ghatkopar Industrial Estate, Behind R-City Mall, Off LBS Marg,
Ghatkopar (W), Mumbai – 400086, Maharahstra, India |
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Tel. No.: |
91-22-25007600 |
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E-Mail : |
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Pan No.: |
AAAPH4277N |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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954000 |
Equity Shares |
Rs. 10/- each |
Rs. 9.540
Millions |
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Note:
Out of the above 468000 shares are issued for
consideration other than cash.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
9.540 |
9.540 |
4.680 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
6.738 |
5.823 |
6.375 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
16.278 |
15.363 |
11.055 |
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LOAN FUNDS |
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1] Secured Loans |
0.205 |
0.596 |
0.000 |
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2] Unsecured Loans |
1.262 |
0.203 |
0.000 |
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TOTAL BORROWING |
1.467 |
0.799 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
17.745 |
16.162 |
11.055 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.925 |
5.374 |
4.952 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.234 |
0.235 |
0.226 |
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DEFERREX TAX ASSETS |
0.047 |
0.000 |
0.026 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
15.226
|
12.055 |
6.483 |
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Sundry Debtors |
10.901
|
5.511 |
12.852 |
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Cash & Bank Balances |
0.737
|
1.163 |
0.569 |
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Other Current Assets |
0.991
|
0.067 |
0.087 |
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Loans & Advances |
10.663
|
12.161 |
5.476 |
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Total
Current Assets |
38.518
|
30.957 |
25.467 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
5.423 |
1.731 |
6.922 |
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Other Current Liabilities |
18.660
|
14.553 |
8.896 |
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Provisions |
1.896
|
4.120 |
3.798 |
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Total
Current Liabilities |
25.979
|
20.404 |
19.616 |
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Net Current Assets |
12.539
|
10.553 |
5.581 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
17.745 |
16.162 |
11.055 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
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Other Income |
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TOTAL |
43.836 |
55.465 |
71.751 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
42.331 |
52.991 |
67.051 |
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PROFIT BEFORE
TAX |
1.505 |
2.474 |
4.700 |
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Less |
TAX |
0.505 |
0.866 |
1.427 |
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PROFIT AFTER TAX
|
1.000 |
1.608 |
3.273 |
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Earnings Per
Share (Rs.) |
1.05 |
NA |
NA |
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Particulars |
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31.03.2011 |
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Sales Turnover (approximately) |
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70.000 |
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The above information has been parted by Ms. Aarti
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
2.28
|
2.90 |
4.56 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.46
|
6.81 |
15.45 |
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Return on Investment (ROI) (PBT/Networth) |
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0.09
|
0.16 |
0.43 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.69
|
1.38 |
1.77 |
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Current Ratio (Current Asset/Current Liability) |
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1.48
|
1.52 |
1.30 |
LOCAL AGENCY FURTHER INFORMATION
The Details of Sundry
Creditors:
Rs.
In Millions
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors for goods and expenses |
5.423 |
1.731 |
6.922 |
Result of
Operations:
The Company has
earned a profit of Rs. 1.070 million after making provision for taxation. The
management is planning to venture in to networks business of new products in
the coming year and have already entered into contract with few highly reputed
companies of the market.
Form 8:
|
This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U72200MH1997PTC109984 |
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Name of the
company |
MEGA NETWORKS
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
507-508, 5TH
Floor, Corporate Centre, Nirmal Life Styles, L.B.S. Marg, Mulund West Mumbai
- 400080, Maharashtra, India |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
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Nature of
description of the instrument creating or modifying the charge |
Letter Of Deposit
Of Title Deeds Towards Collateral Security To Secure Bank For Sanction Of
Facilities : Cash Credit
Facility For Rs.20.000 Millions. ILC/FLC(DA)
Rs.15.000 Millions Letter Of
Guarantee For Rs.5.000 Millions (Within Limit) Total Aggregate
Limit Of Rs.35.000 Millions |
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Date of
instrument Creating the charge |
02.01.2009 |
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Amount secured by
the charge |
Rs. 35.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
- BPLR Plus 1.5% p.a By This Document, The Company Has Secured Bank For The
Credit Facilities Sanctioned (Fund Base And Non Fund Base) For Rs.35.000
Millions By Depositing Title Deeds Of Immovable Properties With Bank. Terms of
Repayment - Working capital (cash credit ) facilities are subject to renewal
of every year. By this document,
the company has secured bank for the credit facilities sanctioned (fund base
and non fund base) for Rs.35.000 millions by depositing title deeds of
immovable properties with bank. Margin – Stocks -
25% book debts-40%. By this document,
the company has secured bank for the credit facilities sanctioned (fund base
and non fund base) for Rs.35.000 millions by depositing title deeds of
immovable properties with bank. Extent and
Operation of the charge - Rs.35.000 Millions And Operation Of Charge On
Properties - Shop No.507 And 508 On 5th Floor, Corporate Park, Nirmal Life
Style Shopping Cum Office, Mulund , Mumbai. |
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Short particulars
of the property charged |
The company has
secured bank for their sanctioned of cash credit limit of Rs.20.000 millions
and ILC/FLC (DA) Rs.15.000 millions and letter of guarantee Rs.5.000 millions
aggregating total credit facilities of Rs.35.000 millions and created charge on immovable properties
: Shop no.507 and
508 on 5th floor, corporate park, nirmal life style shopping cum office,
mulund , mumbai-400080 |
Fixed Assets:
- Office premises
- Premises at mahape
- Furniture and fixture
- Office equipments
- Motor car – Hyundai
- Motor car – manti desire
- Computer and software
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.44.94 |
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|
1 |
Rs.71.89 |
|
Euro |
1 |
Rs.64.09 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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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.