MIRA INFORM REPORT

 

 

Report Date :

29.09.2011

 

IDENTIFICATION DETAILS

 

Name :

RAKHRA TECHNOLOGIES PRIVATE LIMITED

 

 

Registered Office :

Kartar Villavpo Rakhra, District Patiala – 147001, Punjab

 

 

Country :

India

 

 

Financials (as on) :

31.03.2009

 

 

Date of Incorporation :

07.08.2002

 

 

Com. Reg. No.:

16-025327

 

 

Capital Investment / Paid-up Capital :

Rs.0.300 Million

 

 

CIN No.:

[Company Identification No.]

U72300PB2002PTC025327

 

 

Legal Form :

Private Limited Liability Company.

 

 

Line of Business :

Buyers of Computer Peripherals, Networking Equipment, Routers, Computers (Branded
and Unbranded), Laptops and Notebooks.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (13)

 

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 :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is a company having moderate track. The Management of the company has not filed its latest financials with the government departments. Payment terms are unknown.

 

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)

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 :

Kartar Villa VPO Rakhra, District Patiala – 147001, Punjab, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

jsachdeva@bulkpetro.com

 

 

DIRECTORS

 

(AS ON 30.09.2009)

 

Name :

Mr. Charanjit Singh Dhaliwal

Designation :

Director

Address :

Dhaliwal VPO Rakhra, Tech. Patiala, Punjab, India

Date of Birth/Age :

09.08.1964

Date of Appointment :

07.08.2002

DIN No.:

01358893

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

U63022PB1996PTC018582

RAKHRA AGRO (INDIA) PRIVATE LIMITED

Director

01/08/1996

01/08/1996

Active

NO

2

U72300PB2002PTC025327

RAKHRA TECHNOLOGIES PRIVATE LIMITED

Director

07/08/2002

07/08/2002

Active

YES

3

U45202PB2006PTC029764

DISHA MEDIA PRIVATE LIMITED

Director

22/02/2006

22/02/2006

Active

NO

4

U42201PB1997PTC020177

DHALIWAL ENTERPRISES PRIVATE LIMITED

Director

05/05/2008

05/05/2008

Active

YES

5

U85110PB2009PTC033191

DHALIWAL MEDICARE PRIVATE LIMITED

Director

07/09/2009

07/09/2009

Active

NO

6

U85110PB2009PTC033192

DHALIWAL HEALTHCARE PRIVATE LIMITED

Director

07/09/2009

07/09/2009

Active

NO

 

 

Name :

Mr. Surjit Singh Dhaliwal

Designation :

Director

Address :

Dhaliwal VPO Rakhra, Tech. Patiala, Punjab, India

Date of Birth/Age :

19.01.1951

Date of Appointment :

07.08.2002

DIN No.:

00842387

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

U63022PB1996PTC018582

RAKHRA AGRO (INDIA) PRIVATE LIMITED

Managing director

01/08/1996

01/08/1996

Active

NO

2

U42201PB1997PTC020177

DHALIWAL ENTERPRISES PRIVATE LIMITED

Director

03/07/1997

03/07/1997

Active

YES

3

U72300PB2002PTC025327

RAKHRA TECHNOLOGIES PRIVATE LIMITED

Director

07/08/2002

07/08/2002

Active

YES

4

U45202PB2006PTC029764

DISHA MEDIA PRIVATE LIMITED

Director

22/02/2006

22/02/2006

Active

NO

5

U85110PB2009PTC033191

DHALIWAL MEDICARE PRIVATE LIMITED

Director

07/09/2009

07/09/2009

Active

NO

6

U85110PB2009PTC033192

DHALIWAL HEALTHCARE PRIVATE LIMITED

Director

07/09/2009

07/09/2009

Active

NO

7

U22130PB2010PTC034049

S.Y.J. BROADCASTINGS PRIVATE LIMITED

Director

23/06/2010

23/06/2010

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

(AS ON 30.09.2009)

 

Names of Shareholders

 

 

No. of Shares

 

 

 

Darshan Singh Dhaliwal

VPO Rakhra, Tech Patiala, Punjab, India

 

5000

Surjit Singh Dhaliwal

VPO Rakhra Tech Patiala, Punjab, India

 

5000

Rakhra Technologies LLC

9653, North Granville Road, Mequon Wisconsin 53097-3504, USA

 

20000

 

 

 

Total

 

 

 30000

 

 

(AS ON 30.09.2009)

 

Category

 

 

Percentage

 

 

 

Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]

 

67.00

Directors or relatives of directors

 

33.00

 

 

 

Total

 

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Buyers of Computer Peripherals, Networking Equipment, Routers, Computers (Branded
and Unbranded), Laptops and Notebooks.

 

 

GENERAL INFORMATION

 

No. of Employees :

Not Available

 

 

Bankers :

·         State Bank of Patiala

Personal Banking Branch, Leela Bhawan Market, Patiala – 147001, Punjab, India

 

 

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

R. P. Bhambri and Company

Chartered Accountant

Address :

8 – Yadvindra Colony, Patila – 147001, Punjab, India

 

 

CAPITAL STRUCTURE

 

(AS ON 30.09.2009)

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Equity Share

Rs.10/- each

Rs.0.500 Million

5000

Preference Shares

Rs.100/- each

Rs.0.500 Million

 

 

 

 

 

Total

 

Rs.1.000 Million

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

30000

Equity Share

Rs.10/- each

Rs.0.300 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2009

31.03.2008

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

0.300

0.300

2] Share Application Money

 

10.307

10.307

3] Reserves & Surplus

 

0.000

0.000

4] (Accumulated Losses)

 

(6.746)

(8.300)

NETWORTH

 

3.861

2.307

LOAN FUNDS

 

 

 

1] Secured Loans

 

0.000

0.000

2] Unsecured Loans

 

0.000

0.000

TOTAL BORROWING

 

0.000

0.000

DEFERRED TAX LIABILITIES

 

0.000

0.000

 

 

 

 

TOTAL

 

3.861

2.307

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

17.693

20.531

Capital work-in-progress

 

3.277

3.277

 

 

 

 

INVESTMENT

 

0.000

0.000

DEFERREX TAX ASSETS

 

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

0.000

0.000

 

Sundry Debtors
 

4.471

10.490

 

Cash & Bank Balances
 

2.917

2.280

 

Other Current Assets
 

0.526

0.074

 

Loans & Advances
 

0.406

0.522

Total Current Assets
 

8.320

13.366

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditor and Other Current Liabilities
 

25.434

34.874

 

Provisions
 

0.000

0.000

Total Current Liabilities
 

25.434

34.874

Net Current Assets
 

(17.114)

(21.508)

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.005

0.007

 

 

 

 

TOTAL

 

3.861

2.307

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2009

31.03.2008

Debt Equity Ratio

(Total Liability/Networth)

 
 

6.59

15.12

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

0.33

0.38

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

FORM 8:

 

 

This form is for

Creation of charge

Corporate identity number of the company

U72300PB2002PTC025327

Name of the company

Rakhra Technologies Private Limited

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

Kartar Villavpo Rakhra, Distt. Patiala, Punjab, India

Type of charge

Others :Guarantee

Particular of charge holder

State Bank of Patiala

Personal Banking Branch, Leela Bhawan Market, Patiala – 147001, Punjab, India

mapl1123@yahoo.com

Nature of description of the instrument creating or modifying the charge

Deed of guarantee. Dated-17-10-2007

Date of instrument Creating the charge

17.10.2007

Amount secured by the charge

Rs.20.000 Millions

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

Rate of Interest

Nil

 

Terms of Repayment

Nil

 

Margin

42.72%

 

Extent and Operation of the charge

100%

 

Others

Rakhra Technologies Private Limited has given the Guarante to Bank for the term loan of Rs.200.000 Millions  advanced to M/s Dhaliwal Entertainment Private Limited by way of equitable mortgage of commercial property in their name situated at 2nd 3rd floor of Surya Complex Opp. Leela Bhawan, Patiala Measuring 3161 sq yards which is the ceiling of first floor. The property has been valued at Rs.46.400 Millions.

 

Short particulars of the property charged

Equitable Mortgage of commercial property in the name of Rakhra Technologies Private Limited Situated at 2nd and 3rd floor of Surya Complex Opp. Leela Bhawan, Patiala Measuring 3161 sq yards which is the ceiling of first floor. The property has been valued at Rs.46.400 Millions.

 

 

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.48.91

UK Pound

1

Rs.76.53

Euro

1

Rs.66.43

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILIRY

1~10

-

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

1

--RESERVES

1~10

-

--CREDIT LINES

1~10

1

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--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

 

13

 

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.