MIRA INFORM REPORT

 

 

Report Date :

07.11.2011

 

IDENTIFICATION DETAILS

 

Name :

MAIL ORDER SOLUTIONS INDIA PRIVATE LIMITED

 

 

Registered Office :

403-407, Raheja Plaza, CTS-844-15B, Shah Industrial Estate, Opposite Yashraj Studio, Veer Desai Road, Andheri (West), Mumbai-400058, Maharashtra 

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

01.06.2007

 

 

Com. Reg. No.:

11-171248

 

 

Capital Investment / Paid-up Capital :

Rs.24.274 Millions

 

 

CIN No.:

[Company Identification No.]

U72300MH2007PTC171248

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMM32651D

 

 

PAN No.:

[Permanent Account No.]

AAFCM1946B

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Providing end-to-end integrated solution offering world class Print Production, International Postal and Distribution Services.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 500000

 

 

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.

 

Profit and loss 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.

 

 

ECGC Country Risk Classification List – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

LOCATIONS

 

Registered Office :

403-407, Raheja Plaza, CTS-844-15B, Shah Industrial Estate, Opposite Yashraj Studio, Veer Desai Road, Andheri (West), Mumbai-400058, Maharashtra, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

santosh@mosindia.biz

dnyanada@rdmipl.com

 

 

Head Office:

162, B Windermere, Building No. 2, Oshiwara, Off New Link Road, Andheri (West), Mumbai-400053, Maharashtra, India

Tel No.:

91-22-40330000

Fax No.:

91-22-40330100

Email:

info@mosindia.biz

 

 

Corporate Office :

406, Raheja Plaza, Plot NO. 15/B, Off New Link Road, Andheri (West), Mumbai-400053, Maharashtra, India

Tel. No.:

91-22-40330000

Fax No.:

91-22-40330100

E-Mail :

info@mosindia.biz

support@mosindia.biz

 

 

Factory :

Plot No. 6 and 7, Moti Udyog Nagar, Ramchandra Lane, Kanchpada, Malad (West), Mumbai-400064, Maharashtra, India

Tel. No.:

91-22-42118000

Fax No.:

91-22-42118080

 

 

Warehouse:

32R/H, Shree Laxmi Vijay Co-Operative Society Limited, Off New Link Road, Andheri (West), Mumbai-400053, Maharashtra, India

 

 

USA Office:

575, Madison Avenue, Suite 1006, NY 10022, USA

Tel. No.:

+ 1-212-6050115

Fax No.:

+ 1-212-7510461

 

 

DIRECTORS

 

AS ON 27.09.2011

 

Name :

Mr. Mehul Arvind Desai

Designation :

Director

Address :

162 B-Wing, 16th Floor, Windermere, Building No. 2, Oshiwara, Off New Link Road, Andheri (West), Mumbai-400102, Maharashtra, India

Date of Birth/Age :

10.11.1963

Date of Appointment :

01.06.2007

Din No.:

01407954

Other Directorship:

S. No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Company Status

Defaulting status

1

U74999MH2006PTC162733

RDM WORLDWIDE LOGISTICS (INDIA) PRIVATE LIMITED

Managing director

18-09-08

19-06-06

Active

NO

2

U72300MH2007PTC171248

MAIL ORDER SOLUTIONS INDIA PRIVATE LIMITED

Director

01-06-07

01-06-07

Active

NO

 

 

Name :

Mrs. Nivedita Arvindbhai Desai

Designation :

Director

Address :

162 B-Wing, 16th Floor, Windermere, Building No. 2, Oshiwara, Off New Link Road, Andheri (West), Mumbai-400102, Maharashtra, India

Date of Birth/Age :

12.02.1939

Date of Appointment :

01.06.2007

Din No.:

01418572

Other Directorship:

S.

No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Company Status

Defaulting status

1

U51900MH1999PTC122332

REGENCY DIRECT MARKETING (INDIA) PRIVATE LIMITED

Alternate director

16-04-04

16-04-04

Active

NO

2

U72300MH2007PTC171248

MAIL ORDER SOLUTIONS INDIA PRIVATE LIMITED

Director

01-06-07

01-06-07

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 27.09.2011

 

Names of Shareholders

 

No. of Shares

Mehul Arvind Desai

 

2427379

Nivedita Arvindbhai Desai

 

1

 

 

 

Total

 

2427380

 

AS ON 27.09.2011

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Providing end-to-end integrated solution offering world class Print Production, International Postal and Distribution Services.

 

 

GENERAL INFORMATION

 

Customers:

·         Kserve

·         Datamatics

·         BDK

·         Obubble

·         The Marketing Group

·         Chanel

·         Greystone

·         Financial Technologies

·         The Economist

·         The Leela

 

 

Bankers :

Not Available

 

 

Facilities :

Secured Loan

As on 31.03.2011

[Rs. in Millions]

As on 31.03.2010

[Rs. in Millions]

Secured Loan

315.170

189.238

Total

315.170

189.238

 

 

 

Unsecured Loan

 

 

Unsecured Loan

21.662

5.497

Total

21.662

5.497

 

Financial Institution:

Religare Finvest Limited, D3, P3B, District Centre, Saket, New Delhi-110017, India

 

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Bhavesh Dalal and Company

Chartered Accountants

Address :

40, Geeta, 135/138, J.P. Road, Andheri (West), Mumbai-400058, Maharashtra, India

Mobile No.:

91-9821052620

Pan No.:

AABPD4208N

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

3000000

Equity Shares

Rs.10/- each

Rs.30.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

2427380

Equity Shares

Rs.10/- each

Rs.24.274 Millions

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2011

31.03.2010

31.03.2009

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

24.274

24.274

24.274

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

102.217

91.158

32.567

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

126.491

115.432

56.841

LOAN FUNDS

 

 

 

1] Secured Loans

315.170

189.238

89.062

2] Unsecured Loans

21.662

5.497

0.000

TOTAL BORROWING

336.832

194.735

89.062

DEFERRED TAX LIABILITIES

4.423

4.758

3.286

 

 

 

 

TOTAL

467.746

314.925

149.189

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

292.501

164.316

72.479

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

5.031

1.500

0.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
14.817

13.111

7.567

 

Sundry Debtors
108.882

89.172

95.473

 

Cash & Bank Balances
67.596

71.388

13.056

 

Other Current Assets
0.000

0.000

0.000

 

Loans & Advances
43.448

71.903

30.927

Total Current Assets
234.743

245.574

147.023

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
50.032

53.838

53.967

 

Other Current Liabilities
8.213

6.334

16.608

 

Provisions
6.415

36.490

0.000

Total Current Liabilities
64.660

96.662

70.575

Net Current Assets
170.083

148.912

76.448

 

 

 

 

MISCELLANEOUS EXPENSES

0.131

0.197

0.262

 

 

 

 

TOTAL

467.746

314.925

149.189

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

Debt Equity Ratio

(Total Liability/Networth)

 
3.17

2.52

2.81

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
3.63

2.54

2.08

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

BANKERS CHARGES REPORT AS PER REGISTRY

 

This form is for

Creation of charge

Corporate identity number of the company

U72300MH2007PTC171248

Name of the company

MAIL ORDER SOLUTIONS INDIA PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

403-407, Raheja Plaza, CTS-844-15B, Shah Industrial Estate, Opposite Yashraj Studio, Veer Desai Road, Andheri (West), Mumbai-400058, Maharashtra, India

Type of charge

Movable Property (not being pledge)

Particular of charge holder

Religare Finvest Limited, D3, P3B, District Centre, Saket, New Delhi-110017, India

Email

corporateaffairs@religare.com

Nature of description of the instrument creating or modifying the charge

Loan Agreement  for Rs.0.114 Million and [Loan + interest of Rs 0.144 Million] for movable property as per terms of the agreement with Religare Finvest Limited and repayable in 36 equal monthly installments of Rs.0.004 Million  each  at interest of 16% with reducing ROI.

Date of instrument Creating the charge

14.10.2011

Amount secured by the charge

Rs.0.114 Million

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest

16% with reducing ROI

 

Terms of Repayment

36 equal monthly installments of Rs.0.004 Million each

 

Extent and Operation of the charge

100%

Short particulars of the property charged

Dell Latitude E6510 Base purchased from Dell India Private Limited vide invoice dated 10.04.2011

 

 

FIXED ASSETS:

 

·         Computer

·         Office Equipments

·         Mobile Phone

·         Air Conditioner

·         Furniture and Fixtures

·         Motor Car

·         Office Premises

·         Plant and Machinery

 

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.49.08

UK Pound

1

Rs.78.65

Euro

1

Rs.67.79

 

 

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

-

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.