MIRA
INFORM REPORT
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Report Date : |
08.11.2011 |
IDENTIFICATION DETAILS
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Name : |
ACE TELEVOICE AND SERVICES PRIVATE LIMITED |
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Registered Office : |
302 Sai Smruti opposite Johnson
and Johnson, LBS Marg, Mulund (West), Mumbai – 400 710, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Year of Establishment : |
24.06.1998 |
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Com. Reg. No.: |
11-115487 |
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Capital Investment
/ Paid-up Capital : |
Rs.14.768
Millions |
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CIN No.: [Company
Identification No.] |
U64201MH1998PTC115487 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA12598F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing Services of IT Solutions. |
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No. of Employees : |
225 (Approximately) |
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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Maximum Credit Limit : |
USD 583220 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject seems to be an established company but we were unable to
contact the subject. Site check was conducted, there is no company located on
the given address. After inquired from neighbor it was found that the
premises was closes since long back. No further information could be made
available. Therefore, the report is based on information available from
Government Registry. Keeping in view the aforesaid, it would be advisable to enter into
business dealings on a safe and secured 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 (GENERAL
DETAILS)
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Name : |
Mr. Aman Kurund |
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Designation : |
Accountant |
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Contact No.: |
91-22-67614700 |
LOCATIONS
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Registered Office : |
302 Sai Smruti opposite
Johnson and Johnson, LBS Marg, Mulund (West), Mumbai – 400 710, |
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Tel. No.: |
91-22-67614700
(Not Working) |
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Fax No.: |
91-22-67614700 (Not Working) |
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E-Mail : |
sprao@acetelevoice.com ace.bom@vsnl.com info@acetelevoice.com |
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Website : |
www.acetelevoice.com |
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Area : |
3000 Sq. ft. (Owned) |
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Corporate Office : |
306 Building No. 2(A3), Sector – 1, Millennium Business park, mahape, Navi Mumbai – 400 710, Maharashtra, India |
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Area : |
13000 Sq.fts |
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Location : |
MIDC Leased for 99 years |
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Administrative office : |
D - 102, Saidham, |
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Tel. No.: |
91-22-67614700 / 25905439 (Not Working) |
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Fax No.: |
91-22-67614700 / 25904667 (Not Working) |
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E-Mail : |
ace.bom@vsnl.com |
DIRECTORS
As on 29.09.2010
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Name : |
Mr. Rajesh Manohar Kodnani |
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Designation : |
Director |
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Address : |
B-3102, Avlon, |
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Date of Birth/Age : |
25.12.1964 |
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Qualification : |
B.E |
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Date of Appointment : |
24.06.1998 |
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Name : |
Mr. Narayan Swaminathan |
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Designation : |
Director |
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Address : |
CB-704, |
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Date of Birth/Age : |
21.03.1965 |
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Date of Appointment : |
24.06.1998 |
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Name : |
Mrs. Neelam Rajesh Kodnani |
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Designation : |
Director |
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Address : |
B-3102, Avlon, |
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Date of Birth/Age : |
10.12.1969 |
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Qualification : |
B.Com |
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Date of Appointment : |
01.12.2001 |
KEY EXECUTIVES
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Name : |
Mr. Hemant Nikam |
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Designation : |
Senior Accounts Manager |
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Name : |
Mr. Aman Kurund |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
|
Names of Shareholders |
No. of Shares |
|
Rajesh Manohar Kodnani |
553800 |
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Neelam Rajesh Kodnani |
553800 |
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Narayan Swaminathan |
369200 |
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Total |
1476800 |
As on 29.09.2010
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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 : |
Providing Services of IT Solutions. |
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Terms : |
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Selling : |
Cash / Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash / Credit (30 days / 60 days / 90 days) |
GENERAL INFORMATION
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Customers : |
End Users, OEM’s and Others |
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No. of Employees : |
225 (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 : |
Anand Mukul and Associates Chartered Accountants |
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Address : |
2, Hazari Bhuvan, |
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Tel. No.: |
91-22-24604585/23757598/23716945 |
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Fax No.: |
91-22-25613847 |
CAPITAL STRUCTURE
As on 29.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1476800 |
Equity Shares |
Rs.10/- each |
Rs.14.768
Millions |
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 |
14.768 |
14.768 |
14.768 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
131.037 |
119.097 |
105.070 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
145.805 |
133.865 |
119.838 |
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LOAN FUNDS |
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1] Secured Loans |
100.538 |
124.175 |
31.030 |
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2] Unsecured Loans |
0.000 |
0.301 |
0.000 |
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TOTAL BORROWING |
100.538 |
124.476 |
31.030 |
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DEFERRED TAX LIABILITIES |
7.124 |
6.375 |
5.026 |
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TOTAL |
253.467 |
264.716 |
155.894 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
60.618 |
70.313 |
58.505 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
216.659
|
133.567 |
84.982 |
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Cash & Bank Balances |
1.619
|
5.326 |
58.909 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
67.066
|
131.295 |
45.221 |
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Total
Current Assets |
285.344
|
270.188 |
189.112 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
55.089
|
60.155
|
64.259 |
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Other Current Liabilities |
19.931
|
6.723 |
16.062 |
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Provisions |
17.475
|
8.907 |
11.402 |
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Total
Current Liabilities |
92.495
|
75.785 |
91.723 |
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Net Current Assets |
192.849
|
194.403 |
97.389 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
253.467 |
264.716 |
155.894 |
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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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|
291.318 |
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Other Income |
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|
2.615 |
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TOTAL (A) |
NA |
NA |
293.933 |
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Less |
EXPENSES |
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|
60.209 |
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Managerial Remuneration |
NA |
NA |
92.906 |
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Other Expenditure |
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|
95.993 |
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TOTAL (B) |
NA |
NA |
249.108 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
44.825 |
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Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
0.235 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
NA |
44.590 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
4.024 |
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PROFIT BEFORE
TAX (E-F) (G) |
30.436 |
25.598 |
40.566 |
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Less |
TAX (I) |
NA |
NA |
13.866 |
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PROFIT AFTER TAX
(G-I) (J) |
NA |
NA |
26.700 |
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Earnings Per
Share (Rs.) |
NA |
NA |
18.08 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
9.08 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
13.92 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.80
|
17.52
|
16.38 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.19
|
0.34 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.32
|
1.50
|
1.02 |
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Current Ratio (Current Asset/Current Liability) |
|
3.08
|
3.57
|
2.06 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
55.089
|
60.155
|
64.259 |
Financial Results:
The financial year ended with a profit before tax of Rs.30.436 millions
(previous year. Rs.25.598 millions.)
Review of Operation:
The company has continued with its strategy of
focusing on quality services to its customers. Its emphasize on healthy earnings
growth with low volatility has ensured consistency in turnover during the
financial year 2009- 10.
The
Company has already been accredited with ISO-9001-2000 in the held of
design, development and implementation of application software projects such as
Hospital Management, Public Health Management Systems and e-Governance. Further
The company has now achieved ISO-9001-2000 for the areas of consulting, design,
management services, testing and inspection for data centre networking, server,
data storage, software, system integration and IT infrastructure; Facility
Management and technical support for IT infrastructure which will significantly
add to further revenues and will also help achieve the distinction of carrying
out extremely specialized work and functions. Further The Company is the first
to achieve ISO 9001-2000 for any municipality in the country in the field of
management of IT enabled Octroi operations this rare achievement has been
carried out at MCGM, Octroi, LBS Naka, the first municipality to achieve ISO
9001-2000. The entire consultancy for this project was carried out by The
Company.
Future Outlook
ATS is looking forward to expand its services
in Information and Communication Technology Solutions by utilizing its
expertise and experience in successful implementation of e-Governance solution
and consulting activities for Mumbai to other civic administrative bodies in
Maharashtra as well as all other states of
With its hardcore expertise in building and
maintaining Web-Enterprise level Geographical Information Systems, initiatives
has been already been taken to enter into the international markets, where
there is a huge potential for enterprise wide GIS solutions and considerably
big gap in availability. Moreover, the international GIS market is expected to
boom into many folds in the coming years
Being one of the very few organizations in the
country to possess the ISO 9001:2000 certification for consulting, the market share
under this is expected to grow considerably n the coming years, for which the
company has formed a core team for consulting.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90143758 |
|
Corporate
identity number of the company |
U64201MH1998PTC115487 |
|
Name of the
company |
ACE TELEVOICE AND
SERVICES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
302 Sai Smruti opposite
Johnson and Johnson, LBS Marg, Mulund (West), Mumbai – 400 710, |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Others |
|
Particular of
charge holder |
UCO Bank, 359, D N Road, Fort, Mumbai
-400 023, |
|
Email |
|
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Nature of
description of the instrument creating or modifying the charge |
1. Agreement of hypothecation
and book debts secure deemand cash credit |
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Date of
instrument Creating the charge |
29.10.2009 |
|
Amount secured by
the charge |
Rs.40.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As stipulated by
bank from time to time Terms of
Repayment As stipulated by
bank from time to time Margin As stipulated by
bank from time to time Extent and
Operation of the charge First charge
present and future) cash-credit Rs. 40.000 millions. Others As stipulated by
bank from time to time and as per agreement attached and as per sanction
letter of the bank |
|
Short particulars
of the property charged |
I)
First
Chargepresent and future) hypothecation of stock/goods/inventories kept at
borrower place or whereeverelse or in transit II)
Hypothecation
of book debts/receivables III)
Hypothecation
of all current, movable and fixed assets IV)
EMG of
seven units totally ADM about 12851.51 sq. Ftbult up are being units Nos
306,307,308,311,312,313 and 314 on the
third floor of Bld No.2(a-3) in the "A" Block V)
Off
millennium business park constructed on all that piece or parcel of plot of
land being plot no mbp-2, sector no 1 in the trans thane creek industrial
area situated at Village Mahape, Taluka Thane VI)
District
and Regt district thane sub district
thane within the limits of Navi Mumbai municipal corporation |
|
Particulars of
the present modification |
By this
modification limits stands to Rs.40.000 millions, securities are continued as
given by original charge as well as by modifications terms and conditions as
per agreement attached and as per sanction letter of the bank. |
Fixed Assets:-
· Building
·
Office premises
·
Air
Conditioners
·
Computers
·
Furniture
and Fixtures
·
Office
Equipments
·
Motor
Car
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.49.08 |
|
|
1 |
Rs.78.65 |
|
Euro |
1 |
Rs.67.79 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.