MIRA
INFORM REPORT
|
Report Date : |
11.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
SONUS SALES AND SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
51, Dheeraj Heritage Commercial Complex, S.V. Road Near Milan Subway
Singal, Santacruz (West), Mumbai – 400054, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
15.02.2005 |
|
|
|
|
Com. Reg. No.: |
11-151285 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52334MH2005PTC151285 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS49431E |
|
|
|
|
PAN No.: [Permanent Account No.] |
ABCFS5208H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Sales and Service Provider of Sony Products. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
huge accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported as fair. The company can be considered for business dealings on a 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.
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 |
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Akshay |
|
Designation : |
Director |
|
Contact No.: |
91-9867177766 |
|
Date : |
09.11.2011 |
LOCATIONS
|
Registered Office : |
51, Dheeraj Heritage Commercial Complex, S.V. Road Near Milan Subway
Singal, Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Tel. No.: |
91-22-61595910 |
|
Mobile No.: |
91-9867177766 (Mr. Akshay) |
|
Fax No.: |
91-22-61595912 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Akshay Ramesh Bavisi |
|
Designation : |
Director |
|
Address : |
C-102, Minal Apartment Old Nagardas Road, Andheri (East), Mumbai –
400069, Maharashtra, India |
|
Date of Birth/Age : |
17.08.1976 |
|
Date of Appointment : |
15.02.2005 |
|
DIN No.: |
00739698 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U74999MH2002PTC135025 |
SONUS
ELECTRONIC AND SERVICES PRIVATE LIMITED |
Director |
27/02/2002 |
27/02/2002 |
- |
Active |
NO |
|
2 |
U52334MH2005PTC151285 |
SONUS
SALES AND SERVICES PRIVATE LIMITED |
Director |
15/02/2005 |
15/02/2005 |
- |
Active |
NO |
|
Name : |
Mr. Abdul Rehman Khamish Shaikh |
|
Designation : |
Director |
|
Address : |
948, I, Sagar Park, Amrut Nagar, Ghatkoper (West), Mumbai – 400086,
Maharashtra, India |
|
Date of Birth/Age : |
05.11.1971 |
|
Date of Appointment : |
15.02.2005 |
|
DIN No.: |
01315318 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U74999MH2002PTC135025 |
SONUS
ELECTRONIC AND SERVICES PRIVATE LIMITED |
Director |
27/02/2002 |
27/02/2002 |
- |
Active |
NO |
|
2 |
U52334MH2005PTC151285 |
SONUS
SALES AND SERVICES PRIVATE LIMITED |
Director |
15/02/2005 |
15/02/2005 |
- |
Active |
NO |
|
Name : |
Mr. Kamlesh Ratanshi Shah |
|
Designation : |
Additional Director |
|
Address : |
C-301, Millan Apartments, Old Nagardas Road, Andheri (East), Mumbai –
400069, Maharashtra, India |
|
Date of Birth/Age : |
08.03.1979 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
002191941 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Akshay Ramesh Bavisi |
|
5000 |
|
Abdul Rehman Khamish Shaikh |
|
5000 |
|
|
|
|
|
Total |
|
10000 |
AS ON 30.09.2010
|
Equity Shares
Break Up |
Percentage |
|
|
|
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Sales and Service Provider of Sony Products. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
20 (Approximately) |
|
|
|
|
Bankers : |
HDFC Bank
Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai –
400013, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R.S. Kelkar and Company Chartered Accountants |
|
Address : |
C-109, Kailash Esplanade, L.B.S. Marg, Ghatkoper (West), Mumbai –
400086, Maharashtra, India |
|
Tel. No.: |
91-22-25003571 |
|
Fax No.: |
91-22-25004227 |
|
Email : |
|
|
Pan No.: |
AAEFR6049Q |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
After 30.09.2010
Authorised Capital : Rs. 3.000 millions
Issued, Subscribed & Paid-up Capital : Rs. 2.000
millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.507 |
0.312 |
|
|
4] (Accumulated Losses) |
(5.592) |
0.000 |
0.000 |
|
|
NETWORTH |
(5.492) |
0.607 |
0.412 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.067 |
3.056 |
0.000 |
|
|
2] Unsecured Loans |
11.133 |
4.059 |
3.019 |
|
|
TOTAL BORROWING |
13.200 |
7.115 |
3.019 |
|
|
DEFERRED TAX LIABILITIES |
0.010 |
0.004 |
0.002 |
|
|
|
|
|
|
|
|
TOTAL |
7.718 |
7.726 |
3.433 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.634 |
0.236 |
0.008 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
10.005
|
7.853 |
6.130 |
|
|
Sundry Debtors |
2.309
|
2.973 |
1.245 |
|
|
Cash & Bank Balances |
1.850
|
0.500 |
2.684 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
7.679
|
1.700 |
1.623 |
|
Total
Current Assets |
21.843
|
13.026 |
11.682 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.498
|
5.235 |
7.852 |
|
|
Other Current Liabilities |
3.844
|
0.301 |
0.405 |
|
|
Provisions |
0.417
|
0.000 |
0.000 |
|
Total
Current Liabilities |
14.759
|
5.536 |
8.257 |
|
|
Net Current Assets |
7.084
|
7.490 |
3.425 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7.718 |
7.726 |
3.433 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
INCOME |
105.526 |
149.937 |
67.001 |
|
|
|
|
|
|
|
Less |
EXPENSES |
111.619 |
149.624 |
66.782 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(6.093) |
0.313 |
0.219 |
|
|
|
|
|
|
|
Less |
TAX |
0.006 |
0.119 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(6.099) |
0.194 |
0.219 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(609.90) |
19.48 |
21.94 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(5.77)
|
0.12 |
0.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(27.10)
|
2.36 |
1.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.10)
|
0.51 |
0.53 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(5.09)
|
20.84 |
27.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47
|
2.35 |
1.41 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE
The company has suffered a loss of Rs. 6.099 millions during the current
financial year as against the profit of Rs. 0.194 millions earned during the
previous financial year. The Board is hopeful of better performance during the
ensuing financial year.
NOTE :
The Registred office address of the company has been shifted from Shop
No.2 New Sujata Chsyjuhu Tara Road, Santacruz (West), Mumbai – 400049,
Maharashtra, India to present address
w.e.f. 01.04.2011.
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
Yes |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
----------- |
|
8. No. of Employees |
Yes |
|
9. Name of person contacted |
Yes |
|
10. Designation of contact person |
Yes |
|
11. Turnover of firm for last three years |
No |
|
12. Profitability for last three years |
-- |
|
13. Reasons for variation <> 20% |
-- |
|
14. Estimation for coming financial year |
No |
|
15. Capital in the business |
No |
|
16. Details of sister concerns |
No |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
------- |
|
21. Market information |
------- |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
No |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
No |
|
28. Incorporation details, if applicable |
------ |
|
29. Last accounts filed at ROC |
------ |
|
30. Major Shareholders, if available |
------ |
|
Corporate
identity number of the company |
U52334MH2005PTC151285 |
|
Name of the
company |
SONUS SALES AND
SERVICES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Shop No.2 New
Sujata Chsjuhu Tara Road, Santacruz (West), Mumbai – 400049, Maharashtra,
India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Others |
|
Particular of
charge holder |
HDFC Bank
Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai –
400013, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed Of
Hypothecation. |
|
Date of
instrument Creating the charge |
26/07/2008 |
|
Amount secured by
the charge |
Rs. |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest at the rate
as may be communicated by the Bank from time to time. Terms of repayment On Demand Margin Company shall at
all times during the continuance of this security maintain the said debts of
a sufficient amount to provide the margin of security as may from time to
time advised by the Bank. Extent and operation of the charge Hypothecation by
way of first charge on Receivables of the Company as described under Item
No.14 as security for repayment of loan together with all interest, charges, fees,
penalty, taxes and any other expenses payable to the Bank by the borrower. Other NIL |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation by
way first charge on the present and future receivables of the Company, which
receivables may now or hereafter arise from transactions of the Company which
transactions are paid for through the use of debit or credit cards, whether
Visa, Mastercard, Diners' Club, American Express or otherwise (and whether
arising from the use of |
FIXED ASSETS :
·
Computer
·
Office Equipments
·
Furniture and Fixture
·
Motor Van
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. 49.78 |
|
|
1 |
Rs. 80.15 |
|
Euro |
1 |
Rs. 68.81 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
18 |
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.