%20PRIVATE%20LIMITED%20-%20136970%2026-Mar-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
26.03.2011 |
IDENTIFICATION DETAILS
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Name : |
TECTON ENGINEERING AND CONSTRUCTION ( |
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Registered
Office : |
GR Complex, 2nd Floor, Door No.407 and 408, (New No.808), Anna Salai,
Nandanam, Chennai-600035, Tamil Nadu |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
30.11.2009 |
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Com. Reg. No.: |
18-073710 |
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CIN No.: [Company Identification
No.] |
U45206TN2009FTC073710 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHET11486G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Construction Engineering and Contractor of water treatment plant. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 relatively new company and yet to establish itself gradually.
The company expects sizable turnover in its first year of operation. Trade
relations are fair. Business is active. Payment terms are not known. The company can be considered for business dealings with some caution. |
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) |
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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
|
Name : |
Mr. Samuel Raj |
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Designation : |
Finance Department |
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Contact No.: |
91-44-43403740 |
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Date : |
25.03.2011 |
LOCATIONS
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Registered Office : |
GR Complex, 2nd Floor, Door No.407 and 408, (New No.808), Anna Salai, Nandanam,
Chennai-600035, Tamil Nadu, India |
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Tel. No.: |
91-44-43403740 |
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Fax No.: |
91-44-43403730 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Branches : |
UAE OFFICE Post Box :110760, Abu Dhabi, UAE Tel No : 91-971-26429488 Fax No : 91-971-26429489 Post Box :6039, Ajman UAE. Tel No : 91-971-67422022 Fax No :91-971-67422011 |
DIRECTORS
As On : 25.09.2010
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Name : |
Mr. Parambathekandi Mohamad Ali |
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Designation : |
Director |
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Address : |
Al Barakah, Tevara Ferry Road, Tevara, Ernakulam-682014, Kerala, India |
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Date of Appointment : |
30.11.2009 |
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DIN No : |
00288556 |
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Name : |
Mr. Mathilakathu Mohamed Unni Mohamed Sheriff |
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Designation : |
Director |
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Address : |
No.149, 2nd Floor, EVR Lane, Off Poonamalle Road, Kilpauk,
Chennai-600010, Tamil Nadu, India |
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Date of Appointment : |
30.11.2009 |
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DIN No : |
01726888 |
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Name : |
Mr. Somasundaram Lakshmanan |
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Designation : |
Director |
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Address : |
50/1, 2nd Floor, Girija Apartment, J. N Road (100 Ft Road),
Arumbakkam, Chennai-600106, Tamil Nadu, India |
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Date of Appointment : |
30.11.2009 |
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DIN No : |
01783118 |
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Name : |
Mr. Earnest Veloor Joy Shabu |
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Designation : |
Director |
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Address : |
New No.6, AH-157, Shanthi Colony, Anna Nagar, Chennai-600040, Tamil
Nadu, India |
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Date of Appointment : |
03.12.2009 |
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DIN No : |
02555106 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2010
|
Names of Shareholders |
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No. of Shares |
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Mr. Somasundaram Lakshmanan (Represents for Tecton Engineering and
Construction LLC Ajman, UAE) |
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197 |
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Mr. Somasundaram Lakshmanan |
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1 |
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Mr. Mathilakathu Mohamed Unni Mohamed Sheriff |
|
1 |
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Mr. Parambathekandi Mohamad Ali |
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1 |
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Total |
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200 |
AS ON 25.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
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Category |
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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 : |
Construction Engineering and Contractor of water treatment plant. |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
Government Individual |
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No. of Employees : |
35 (In Office) (Approximately) |
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Bankers : |
HSBC Bank, M. T. Road, Chennai, Tamil Nadu, India. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Anand and Ponnappan Chartered Accountant |
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Address : |
48B, South Boag Road, T. Nagar, Chennai-600017, Tamil Nadu, India |
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Holding Company : |
Tecton Engineering and Construction LLC Ajman, UAE |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs. 1000/- each |
Rs. 5.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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200 |
Equity Shares |
Rs. 1000/- each |
Rs. 0.200
million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.200 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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(0.042) |
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NETWORTH |
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0.158 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.158 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.200 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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0.200 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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0.148 |
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Other Current Liabilities |
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0.000 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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0.148 |
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Net Current Assets |
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0.052 |
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MISCELLANEOUS EXPENSES |
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0.106 |
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TOTAL |
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0.158 |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.94 |
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Current Ratio (Current Asset/Current Liability) |
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1.35 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS
During the period, the company did not carry any business.
Note : Registered Office
of the company has been shifted from New No.10, Eldams Road, Alwarpet,
Chennai-600018, Tamil Nadu, India to the present address w.e.f. 31.03.2010
WEB
SIDE DETAILS
CORPORATE
OVERVIEW
%20PRIVATE%20LIMITED%20-%20136970%2026-Mar-2011_files/image004.gif){kind=small}
A
market leader and trend setter in major infrastructure disciplines, Subject has
a well focused and vibrant team of personnel and workforce having cross
industry and international experience. Subject advanced technological end to
end capabilities in design, engineering, procurement, construction, commissioning and operation can provide services in core
Infrastructure disciplines. Subject has built a solid
reputation based on expertise and experience. Subject is proud of what they
have achieved in a short span of time, through continuous efforts,
innovative methods and above all, with safety and quality as our hallmark
of operations. Subject considers every project as a new challenge, an area
of innovation to achieve excellence. We strive hard to execute the
projects to the full satisfaction of all concerned. Subject commits to
adopt modern technologies and techniques in every sphere of their activities to exceed customer expectations.
WHAT THEY ARE NOT
Subject is NOT one of the several EPC ‘Project Management’
contractors. They, at Subject, believe in
what they can do and directly execute projects for their customers with in-
house capabilities, thereby
giving best value to their customers. Customers benefit from this
approach since:
·%20PRIVATE%20LIMITED%20-%20136970%2026-Mar-2011_files/image005.gif){kind=small}
It gives better control of the entire project cycle
· It has commercial advantages due to elimination of
subcontractors’ mark-ups. Where they require support in
certain specialized areas, they partner with global giants to provide
their customers with comprehensive solutions. They have successfully
executed several projects with this approach
and they are one of the most sought after construction partners today in the
region.%20PRIVATE%20LIMITED%20-%20136970%2026-Mar-2011_files/image007.gif){kind=small}
BUILT ON TRUST
Subject is today one of the most
trusted International companies in Engineering, Procurement, Contracting
and Construction industry in UAE and India, with unparalleled in Quality,
Safety and Reliability. Subject
has been consistently considered
as one of the best contractors with each client that they have worked for. Subject is associated with the high standards of work, service,
quality, personal attention to customers, and integrity. The individual
and collective expertise of subject employees ensures outstanding
service delivery to their customers. Many of their projects in the region
are repeat business, which amply illustrates their customers’ continuing trust and satisfaction with
their work.
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.44.65 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.63.28 |
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 |
|
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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.