MIRA
INFORM REPORT
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Report Date : |
14.04.2012 |
IDENTIFICATION DETAILS
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Name : |
MITRA TECHNOLOGY FOUNDATION |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
18.12.2001 |
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Com. Reg. No.: |
25-16603 |
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Capital
Investment / Paid-up Capital : |
Rs.200 /- |
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CIN No.: [Company Identification
No.] |
U74999PN2001PLC016603 |
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Legal Form : |
Section 25, Not for Profit Organisation |
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Line of Business
: |
Volunteering for Social Sectors. |
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No. of Employees
: |
18 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 375.096 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a not for profit sec. 25 Organisation. It is an
organization having satisfactory track. Trade relations are reported as fair.
Payments are reported to be usually correct and as per commitments. The subject can be considered normal for 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 : |
Mr. Janki |
|
Designation : |
Accounts Department |
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Contact No.: |
91-11-26217460 |
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Date : |
13.04.2012 |
LOCATIONS
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Registered Office / : |
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Tel No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Branch Offices : |
·
D-134, 1st Floor, East of Kailash, Telefax: +91-11-26217460 Tel: +91-11-65672160 ·
Chennai IFMR, 8th floor, East wing, Tel: +91-44-42892791 ·
Mumbai A-1, Tel No.: 91-22-26105235/ 65828875 ·
No.384, 6th Cross, 18th E Main, 6th Block, Koramangala, Tel:
+91-80-41466568 ·
Kolkata Email: Kolkata@ivolunteer.in Tel: 91-9831229944 Website: www.ivolunteer.in |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Bala Deshpande |
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Designation : |
Director |
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Address : |
202, Cozy Dell, |
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Date of Appointment : |
30.09.2004 |
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DIN No.: |
00020130 |
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Name : |
Mr. Joseph Madiath |
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Designation : |
Director |
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Address : |
Gram Vikas, |
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Date of Appointment : |
30.09.2003 |
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DIN No.: |
00239978 |
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Name : |
Mrs. Monisha Advani |
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Designation : |
Director (Member and Chair of the Board) |
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Address : |
A-7, Sterling Centre, |
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Date of Birth/Age : |
06.05.1970 |
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Date of Appointment : |
16.03.2009 |
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DIN No.: |
00271245 |
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Name : |
Mr. Rahul Barkataky |
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Designation : |
Director |
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Address : |
B – 39, RBI colony, Hauz Khas, |
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Date of Appointment : |
18.12.2001 |
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DIN No.: |
01915924 |
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Name : |
Mr. Rahul Nainwal |
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Designation : |
Director (Member and Co-Founder Director) |
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Address : |
D-134, 1st Floor, East of Kailash, |
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Date of Appointment : |
29.10.2002 |
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DIN No.: |
01332561 |
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Name : |
Mr. Shalabh Sahai |
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Designation : |
Director (Member and co-Founder Director) |
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Address : |
301, New |
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Date of Appointment : |
29.10.2002 |
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DIN No.: |
01332748 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Urmila |
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10 |
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Neelam |
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10 |
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Total |
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20 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
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Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Volunteering for Social Sectors. |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
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Customers : |
Corporates Training |
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No. of Employees : |
18 (Approximately) |
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Bankers : |
·
ICICI Bank, Branch Defency Colony, New Delhi, India ·
Punjab National Bank ·
Canara Bank |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Jha and Associates Chartered Accountant |
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Address : |
Flat No.406-407, |
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PAN No: |
AACFJ1004B |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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100,00 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
20 |
Equity Shares |
Rs.10/- each |
Rs.200 /- |
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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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.000 |
0.000 |
0.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
93.774 |
74.281 |
57.976 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
93.774 |
74.281 |
57.976 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
93.774 |
74.281 |
57.976 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.842 |
0.951 |
0.954 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
4.120 |
14.420 |
4.120 |
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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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Cash & Bank Balances |
135.148
|
115.524
|
58.343 |
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Loans & Advances |
2.175
|
1.519
|
1.316 |
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Total
Current Assets |
137.323
|
117.043 |
59.659 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Other Current Liabilities |
44.052
|
57.934
|
6.764 |
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Provisions |
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Total
Current Liabilities |
48.513
|
58.138 |
6.764
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Net Current Assets |
88.810
|
58.905
|
52.895 |
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MISCELLANEOUS EXPENSES |
0.002 |
0.005 |
0.007 |
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TOTAL |
93.774 |
74.281 |
57.976 |
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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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Grant in Aid |
44.732 |
29.467 |
26.467 |
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Consultancy Services |
1.198 |
6.508 |
3.918 |
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Other Income |
12.946 |
7.516 |
5.098 |
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TOTAL (A) |
58.876 |
43.491 |
35.483 |
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Less |
EXPENSES |
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Project Expenses |
33.841 |
20.575 |
18.540 |
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Administrative and Other Expenses |
5.271 |
6.260 |
2.884 |
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Depreciation |
0.270 |
0.351 |
0.235 |
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TOTAL (B) |
39.382 |
27.186 |
21.659 |
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Surplus/
(Deficit) for the year |
19.494 |
16.305 |
13.824 |
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Less |
Transferred to
Corpus Fund |
6.594 |
7.975 |
9.456 |
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BALANCE CARRIED
TO THE B/S |
12.900 |
8.330 |
4.368 |
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Sales Turnover (2011-2012): Rs.30.000 Millions
Expected Sales (2012.2013): Rs.20.000 Millions
The above information has been parted by Mr.Janki - Accounts Department
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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(Rs. In Millions) |
||
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Sundry Creditors for Expenses |
4.461
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0.204
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NA |
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Check List by Info Agents |
Available in Report (Yes / No) |
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1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
No |
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5) Type of Business |
Yes |
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6) Line of Business• |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last one years |
Yes |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
No |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
Yes |
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30) Major Shareholders, if available |
Yes |
HIGHLIGHTS
·
While the number of registered volunteers dropped
to 474, iVolunteer Centers additionally engaged 793 corporate volunteers and 662
Joy of Giving Week volunteers thus the total number of volunteers engaged
increased by 200% over 2009.
·
Average placements per volunteer grew from about
2.5 to 4.5 accordingly; there were more one time placements
·
NGO membership reduced significantly
·
iVolunteer Kolkata, set-up in 2009, consolidated
its presence
·
Revenues from corporate grew over 13 times that in
the previous year
PROGRAM UPDATES
·
ICICI Fellows: 20ICICI Fellows Joined in July 2010 and
were placed with 9 development organizations. Presently 17 continue to serve in
their respective projects.
·
·
iVolunteer overseas: 24 volunteers from India
Overseas. 2 volunteers were recruited from srilanka.
·
Job for Good: 10 positions were closed, Revenue of
Rs. 0.300 Million. Significant slowdown in Microfinance space has led to
decline in revenues.
·
iVolunteer NGO Panel: 5 Meeting of iVolunteer Panel
were a group of senior management people from
WORKING RESULTS
The company has achieved an increase of Rs.3.108 Millions in its
turnover as compared to previous financial year mainly on account of increase
in Revenue Grant; Consultancy Services increased earning on investments. The
Directors expect much better result in next financial year.
FIXED ASSETS:
· Computers and Peripherials
· Furniture and Fixtures
· Office Equipment
· Air Conditioner
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.51.41 |
|
|
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.67.66 |
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 |
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 |
|
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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.