MIRA
INFORM REPORT
|
Report Date : |
17.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
MEHTA INFOCOM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-301, Atul Apartment, 3rd Floor, Nivetia Road, Malad (East),
Mumbai – 400 097, Maharashtra |
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|
Country : |
India |
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|
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|
Financials (as
on) : |
31.03.2010 |
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|
|
Date of
Incorporation : |
14.08.2007 |
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Com. Reg. No.: |
11-173072 |
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Capital
Investment / Paid-up Capital : |
Rs. 3.752 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2007PTC173072 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Trader, Exporter and Importer of all types of Internet Products and Telecom
Products. |
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|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 71000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for small to mediocre 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. Sanchita |
|
Designation : |
Audit Department |
|
Contact No.: |
91-22-26859652 |
|
Date : |
17.10.2011 |
LOCATIONS
|
Registered Office : |
A-301, Atul Apartment, 3rd Floor, Nivetia Road, Malad
(East), Mumbai – 400 097, Maharashtra, India |
|
Tel. No.: |
91-22-28775743 / 28741898 / 28786316 / 28773065 |
|
Fax No.: |
91-22-28775517 |
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E-Mail : |
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|
Website : |
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Area : |
2000 Sq. ft. |
|
Location : |
Owned |
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|
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|
Head Office : |
“Mehta House”, Cama Industrial Estate, Near Hub Mall, Opposite Kusum Masala
and Next To Montex Pen House, Off Western Express Highway, Goregaon (East),
Mumbai-400063, Maharashtra, India |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Jignesh Sumatilal Mehta |
|
Designation : |
Director |
|
Address : |
A-301, Atul Apartment, 3rd Floor, |
|
Date of Birth/Age : |
23.08.1969 |
|
Date of Appointment : |
13.08.2007 |
|
DIN No.: |
01632850 |
|
E-Mail : |
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 |
U72900MH2007PTC173072 |
Mehta
Infocom Private Limited |
Managing
director |
14-08-07 |
13-08-07 |
Active |
NO |
|
2 |
U51900MH2007PTC173117 |
Ayush
Multitrade Private Limited |
Director |
21-05-10 |
21-05-10 |
Active |
NO |
|
Name : |
Mrs. Nital Jignesh Mehta |
|
Designation : |
Director |
|
Address : |
A-301, Atul Apartment, 3rd Floor, |
|
Date of Birth/Age : |
24.07.1969 |
|
Date of Appointment : |
13.08.2007 |
|
DIN No.: |
01632835 |
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 |
U72900MH2007PTC173072 |
Mehta
Infocom Private Limited |
Director |
14-08-07 |
13-08-07 |
Active |
NO |
|
2 |
U51900MH2007PTC173117 |
Ayush
Multitrade Private Limited |
Director |
21-05-10 |
21-05-10 |
Active |
NO |
|
Name : |
Mrs. Sushilaben Sumatibhai Mehta |
|
Designation : |
Director |
|
Address : |
A-301, Atul Apartment, 3rd Floor, |
|
Date of Birth/Age : |
27.01.1933 |
|
Date of Appointment : |
13.08.2007 |
|
DIN No.: |
01632846 |
|
|
|
|
Name : |
Mr. Chintan Prakash Lalji |
|
Designation : |
Director |
|
Address : |
Flat No.62, 6th Floor, Mansarovar Building, Borivali
(West), Mumbai-400092, Maharashtra, India |
|
Date of Birth/Age : |
09.06.1977 |
|
Date of Appointment : |
24.05.2010 |
|
DIN No.: |
03083070 |
KEY EXECUTIVES
|
Name : |
Ms. Sanchita |
|
Designation : |
Audit Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Jignesh Mehta |
248000 |
|
Nital Mehta |
1000 |
|
Sushila Mehta |
1000 |
|
Rishab Avinash Modi |
10 |
|
Aashay Avinash Modi |
10 |
|
Aashtha J Mehta |
100 |
|
Parshwa J Mehta |
100 |
|
Ayush Multitrade Private Limited, India |
125000 |
|
Total |
375220 |
AS ON 30.09.2010
|
Equity Shares
Break-Up |
Percentage |
|
Bodies corporate |
33.32 |
|
Directors or relatives of Directors |
66.68 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of all types of Internet Products and
Telecom Products. |
|
|
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Exports : |
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|
Products : |
·
Internet Products ·
Telecom Products |
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Countries : |
·
Nigeria ·
USA |
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Imports : |
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Products : |
Finished Products |
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Countries : |
·
Korea ·
Japan ·
China |
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Terms : |
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Selling : |
L/C, Cash, Credit (30 days, 60 days) |
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Purchasing : |
L/C, Cash, Credit (30 days, 60 days) |
GENERAL INFORMATION
|
Customers : |
Corporate Company ·
Uniflex Cable Limited ·
BHEL |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
·
Oriental Bank of Commerce Limited, Fort Branch,
Bombay Samachar Marg, Fort, Mumbai-400001, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
M. C. Doshi and Company Chartered Accountants |
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Address : |
307/308, Vaishali Apartments, Near Harkishandas Hospital,
Mumbai-400004, Maharashtra, India |
|
Tel. No.: |
91-22-67437416 / 17 |
|
Fax No.: |
91-22-23824232 |
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E-Mail : |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
375220 |
Equity Shares |
Rs.10/- each |
Rs. 3.752
Millions |
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|
|
|
|
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 |
3.752 |
2.500 |
2.500 |
|
|
2] Share Application Money |
0.000 |
3.000 |
0.000 |
|
|
3] Reserves & Surplus |
14.182 |
0.910 |
0.271 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
17.934 |
6.410 |
2.771 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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|
2] Unsecured Loans |
18.678 |
2.788 |
1.780 |
|
|
TOTAL BORROWING |
18.678 |
2.788 |
1.780 |
|
|
DEFERRED TAX LIABILITIES |
0.057 |
0.010 |
0.000 |
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|
|
|
|
|
|
|
TOTAL |
36.669 |
9.208 |
4.551 |
|
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|
|
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|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
3.993 |
0.810 |
0.050 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.347
|
2.758 |
3.004 |
|
|
Sundry Debtors |
51.470
|
21.327 |
12.953 |
|
|
Cash & Bank Balances |
4.904
|
0.553 |
3.270 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
5.136
|
17.834 |
2.257 |
|
Total
Current Assets |
66.857
|
42.472 |
21.484 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
28.431 |
31.038 |
16.561 |
|
|
Other Current Liabilities |
5.805
|
2.829 |
0.321 |
|
|
Provisions |
0.001
|
0.271 |
0.173 |
|
Total
Current Liabilities |
34.237
|
34.138 |
17.055 |
|
|
Net Current Assets |
32.620
|
8.334 |
4.429 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.056 |
0.064 |
0.072 |
|
|
|
|
|
|
|
|
TOTAL |
36.669 |
9.208 |
4.551 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
105.788 |
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
105.788 |
69.393 |
37.124 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
102.458 |
68.109 |
36.604 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
102.458 |
68.109 |
36.604 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.330 |
1.284 |
0.520 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.422 |
0.072 |
0.006 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.908 |
1.212 |
0.514 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.905 |
0.573 |
0.243 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.003 |
0.639 |
0.271 |
|
|
|
|
|
|
|
|
|
|
Prior
Period Adjustments |
0.047 |
0.010 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Loss After Tax |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Loss Brought Forward for Earlier Year |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Loss Carried to Balance Sheet |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.34 |
0.25 |
0.11 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
170.000 |
|
|
|
|
|
Expected Sales (2011-2012) : Rs.250.000 Millions
The above information has been parted by Ms. Sanchita.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.89
|
0.92 |
0.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.10
|
2.80 |
2.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.19 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.95
|
5.76 |
6.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.95
|
1.24 |
1.26 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors for Others |
28.431 |
31.038 |
16.561 |
|
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 |
Yes |
|
12. Profitability for last three years |
----- |
|
13. Reasons for variation <> 20% |
----- |
|
14. Estimation for coming financial year |
Yes |
|
15. Capital in the business |
No |
|
16. Details of sister concerns |
----- |
|
17. Major suppliers |
No |
|
18. Major customers |
Yes |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
------ |
|
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 |
------ |
OPERATIONS:
During the year the company could achieve turnover of Rs. 120.000
millions.
PROSPECTS:
Efforts are made to increased the volume of sales by offering
competitive rates and better quality. However, due to heavy competition
revenues are totally dependent on the market conditions. Performance up to date
is quite satisfactory.
FORM 8
|
Corporate
identity number of the company |
U72900MH2007PTC173072 |
|
Name of the
company |
MEHTA INFOCOM
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-301, Atul Apartment, 3rd Floor, Nivetia Road, Malad
(East), Mumbai – 400 097, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Oriental Bank of Commerce Limited, fort Branch, Bombay Samachar Marg,
Fort, Mumbai-400001, Maharashtra, India |
|
Nature of
instrument creating charge |
Agreement for
Hypothecation of Assets |
|
Date of
instrument Creating the charge |
10.03.2010 |
|
Amount secured by
the charge |
Rs. 20.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest 2 % over
PLR i. e 14 % p. a. or such other rate as agreed between the borrower company
and the bank from time to time. Penal interest @ 2%p. a over and above the
normal interest rate in case of default. Terms of repayment Repayment, as
agreed between the borrower company and the bank from time to time. Margin Margin @ 25 %, or
such other rate as agreed between the borrower company and the bank from time
to time. Extent and operation of the charge At the request of
the borrower company, the bank has sanctioned Cash Credit limit of Rs. 20.000
millions against Hypothecation of Stocks and Book-Debts. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Stocks and Book-Debts. |
TRADE REFERENCES:
·
Uniflex Cable Limited
·
BHEL
FIXED ASSETS
·
Computer
·
Office Equipments
·
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,
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. 49.06 |
|
|
1 |
Rs. 77.41 |
|
Euro |
1 |
Rs. 67.72 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.