|
Report Date : |
04.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
DESIGNTECH SYSTEMS LIMITED (w.e.f. 15.06.2006) |
|
|
|
|
Formerly Known
As : |
DESIGNTECH SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
6, Commerce Centre, Rambaug Colony, Paud Road, Pune-411038,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
19.02.1998 |
|
|
|
|
Com. Reg. No.: |
11-113636 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 9.048 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200MH1998PLC113636 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNED01507C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD2335F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading in Software, Software Development and Training |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 310000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
modest scale of operation, low profitability level in the business as well as
the traditionally high receivable position owing to the delayed payments from
clients. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow. The company can be considered for small 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country’s growth, which has averaged more than 7% per
year since 1997. India’s diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India’s output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis – in large part because of strong domestic demand – and growth
exceeded 8% year-on-year in real terms. However, India’s economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government’s fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India’s medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
A4+ (Non Fund Based) |
|
Rating Explanation |
The risk prone credit quality. It carry high credit risk. |
|
Date |
September 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
BB+ (Fund Based) |
|
Rating Explanation |
The inadequate credit quality. It carry high credit risk. |
|
Date |
September 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Sudhir Deshmukh |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-20-41311200 |
|
Date : |
03.12.2012 |
LOCATIONS
|
Registered Office / Corporate Office : |
6, Commerce Centre, Rambaug Colony, Paud Road, Pune-411038,
Maharashtra, India |
|
Tel. No.: |
91-20-41311200 / 41311201 |
|
Fax No.: |
91-20-41311233 |
|
E-Mail : |
sudhir.deshmukh@desingtechsys.com
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Regional Office : |
Located At ·
Delhi ·
Bangalore ·
Hyderabad ·
Mumbai |
|
|
|
|
International Office : |
Located At ·
USA ·
Canada |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Vikas Vinayak Khanvelkar |
|
Designation : |
Managing Director |
|
Address : |
Chaitanya Dhanashree Co-operative Housing Society, Karve Nagar, Pune-411052,
Maharashtra, India |
|
Date of Birth/Age : |
17.08.1956 |
|
Date of Appointment : |
19.02.1998 |
|
DIN No.: |
00143916 |
|
|
|
|
Name : |
Mr. Sachin Chandrakant Chougle |
|
Designation : |
Whole Time Director |
|
Address : |
8, Abhay Apartments, SN 46, Rambaug Colony, Paud Road, Pune-411038,
Maharashtra, India |
|
Date of Birth/Age : |
25.05.1967 |
|
Date of Appointment : |
01.07.1998 |
|
DIN No.: |
00206595 |
|
|
|
|
Name : |
Mrs. Mangala Vikas Khanvelkar |
|
Designation : |
Director |
|
Address : |
Chaitanya Dhanashree Co-operative Housing Society, Karve Nagar,
Pune-411052, Maharashtra, India |
|
Date of Birth/Age : |
17.04.1957 |
|
Date of Appointment : |
19.02.1998 |
|
DIN No.: |
00215340 |
|
|
|
|
Name : |
Mr. Kiran Raghunath Bhagwat |
|
Designation : |
Director |
|
Address : |
A204, 10, Kasturkunj, ICS Colony, Shivajinagar, Pune-411007,
Maharashtra, India |
|
Date of Birth/Age : |
10.03.1963 |
|
Date of Appointment : |
16.09.2009 |
|
DIN No.: |
00019064 |
KEY EXECUTIVES
|
Name : |
Mr. Sudhir Deshmukh |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Vikas Vinayak Khanvelkar |
603225 |
|
Sachin Chandrakant Chougle |
137910 |
|
Mangala Vikas Khanvelkar |
79553 |
|
Priyanka Deshpande |
1500 |
|
Sanyogita Pendharkar |
1800 |
|
Sanjay Daga |
18750 |
|
Richa Chaphekar |
750 |
|
Meghana Kulkarni |
750 |
|
Ravindra Sohoni |
1875 |
|
Atul Marwaha |
15000 |
|
Prasad Rodagi |
937 |
|
Ajay Adkar |
750 |
|
Khushal Kesrod |
937 |
|
Surya Sudha Prakash Rao |
7500 |
|
Vasudevarao Kodati |
3750 |
|
Abhijit Sane |
1500 |
|
Yashwant Landage |
1875 |
|
Sudhir Deshmukh |
187 |
|
Prashant Bhave |
5625 |
|
Dr. Dhanashree Chonkar |
900 |
|
Rajendra Ranadive |
2250 |
|
Rohit Arora |
3750 |
|
Avanti Chitale |
1500 |
|
Mahesh Lakshman Kothavale |
3750 |
|
Kunal Kedarnath Phalke |
1500 |
|
Madhuri Nanadkumar Apte |
750 |
|
Prakash Bhujgonda Patil |
188 |
|
Sapna Darshan Sawaiwala |
375 |
|
Battula Raju |
1875 |
|
Rachna Pankaj Soni |
375 |
|
Parshwanath Chougule |
375 |
|
Pralhad Dilip Paranjape |
450 |
|
Kiran Vinayak Khanvelkar |
1500 |
|
Hitesh D Badani |
750 |
|
Anil Vasant Avachat |
375 |
|
TOTAL
|
904837 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
91.03 |
|
Other top fifty shareholders |
8.97 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in Software, Software Development and Training |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
·
End Users |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
300 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Commercial Branch, 1548 A,
Sadashiv Peth, Tilak Road, Pune-411030, Maharashtra, India ·
HDFC Bank |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
C V Chitale and Company Chartered Accountant |
|
Address : |
3, Gurukrupa, Sathe Colony, Near Bajirao Road, Telephone Exchange,
1317, Shukrawar Peth, Pune-411002, Maharashtra, India |
|
PAN No.: |
AAEFC6355J |
|
|
|
|
Related Parties : |
·
Angel Computers and Software Private Limited ·
Global Heat Transfer Designtech Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2700000 |
Equity Shares |
Rs.10/- each |
Rs. 27.000 Millions |
|
300000 |
Convertible Preference Shares |
Rs.10/- each |
Rs. 3.000 Millions |
|
|
TOTAL |
|
Rs. 30.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
904837 |
Equity Shares |
Rs.10/- each |
Rs. 9.048 Millions |
|
|
|
|
|
NOTES
i)
301612 Equity shares out
of the issued, subscribed and paid up share capital were allotted as Bonus
shares during the year by way of Capitalization of General Reserve.
ii) Reconciliation of the number of Equity shares outstanding at the
beginning and at the end of the year
|
Particulars |
Number of Shares |
|
Shares
outstanding at the beginning of the year |
603,225 |
|
Add : Shares
issued during the year as Bonus |
301,612 |
|
Less: Shares
Cancelled on buy back |
-- |
|
Shares
outstanding at the End of the year |
904,837 |
iii) The details of shareholders holding more than 5% shares
|
Details of Shareholders |
As at 31st March, 2012 |
|
|
Equity Shares |
Number of Shares |
% Holding |
|
Mr. Vikas Khanvelkar |
603,225 |
67 |
|
Mr. Sachin Chougule |
137,910 |
15 |
|
Mrs. Mangala Khanvelkar |
78,553 |
9 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.048 |
6.032 |
7.742 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
69.384 |
55.667 |
54.999 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
78.432 |
61.699 |
62.741 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
78.827 |
48.130 |
38.000 |
|
|
2] Unsecured Loans |
0.219 |
0.400 |
0.500 |
|
|
TOTAL BORROWING |
79.046 |
48.530 |
38.500 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
1.269 |
|
|
|
|
|
|
|
|
TOTAL |
157.478 |
110.229 |
102.510 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
49.842 |
24.259 |
19.512 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.025 |
1.025 |
1.830 |
|
|
DEFERREX TAX ASSETS |
8.514 |
7.723 |
1.734 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.796
|
0.772 |
5.709 |
|
|
Sundry Debtors |
233.237
|
236.182 |
188.591 |
|
|
Cash & Bank Balances |
25.719
|
28.291 |
40.166 |
|
|
Other Current Assets |
0.000
|
2.042 |
5.708 |
|
|
Loans & Advances |
38.381
|
36.262 |
5.949 |
|
Total
Current Assets |
303.133
|
303.549 |
246.123 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
180.378
|
206.647 |
160.552 |
|
|
Other Current Liabilities |
16.796
|
14.508 |
2.084 |
|
|
Provisions |
7.862
|
5.172 |
4.053 |
|
Total
Current Liabilities |
205.036
|
226.327 |
166.689 |
|
|
Net Current Assets |
98.097
|
77.222 |
79.434 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
157.478 |
110.229 |
102.510 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
698.350 |
506.361 |
451.346 |
|
|
|
Other Income |
4.630 |
2.432 |
4.021 |
|
|
|
TOTAL (A) |
702.980 |
508.793 |
455.367 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock-in-Trade |
444.307 |
303.337 |
254.564 |
|
|
|
Employee Benefits Expenses |
121.239 |
90.325 |
84.000 |
|
|
|
Other Expenses |
96.776 |
76.394 |
87.593 |
|
|
|
Exceptional Items |
0.000 |
1.805 |
0.000 |
|
|
|
Change in Inventories of Finished Goods work in Progress and
Stock-in-Trade |
(5.011) |
4.587 |
0.000 |
|
|
|
TOTAL (B) |
657.311 |
476.448 |
426.157 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) I |
45.669 |
32.345 |
29.210 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.979 |
7.357 |
6.453 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
33.690 |
24.988 |
22.757 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.601 |
4.437 |
4.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
27.089 |
20.551 |
18.257 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.159 |
5.341 |
5.665 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
17.930 |
15.210 |
12.592 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
25.902 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
NA |
0.100 |
|
|
|
Dividend |
NA |
NA |
0.316 |
|
|
|
Tax on Dividend |
NA |
NA |
0.054 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
38.024 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Software Licenses |
0.000 |
0.169 |
4.346 |
|
|
|
Commission and Incentive |
12.966 |
13.345 |
11.600 |
|
|
|
Project Work Receipts |
16.707 |
14.432 |
19.354 |
|
|
TOTAL EARNINGS |
29.673 |
27.946 |
35.300 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Goods |
0.000 |
0.415 |
22.706 |
|
|
|
Fixed Assets |
0.000 |
0.000 |
1.824 |
|
|
TOTAL IMPORTS |
0.000 |
0.415 |
24.530 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.82 |
16.81 |
19.92 |
|
Expected Sales (2012-2013) : Rs. 850.000 Millions
The above information has been parted by Mr. Sudhir.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.55
|
2.99 |
2.77 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.88
|
4.06 |
4.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.49
|
6.12 |
6.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.33 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.62
|
4.45 |
3.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48
|
1.34 |
1.48 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
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 |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
180.378
|
206.647 |
160.552 |
|
|
|
|
|
|
TOTAL |
180.378
|
206.647 |
160.552 |
BUSINESS
PERFORMANCE
The Company’s growth continued in 2011-12, despite difficult economic conditions
coupled with fierce competition, and high inflationary market conditions
resulting in higher input cost. Total revenues for the year are Rs. 703.000
Millions as against Rs. 508.800 Millions during the previous year (Increased by
38.17%)
The Profit before tax for the financial year 2011-12 was Rs. 27.100
Millions as against Rs. 20.500 Millions during the previous year.
FORM 8
|
Corporate
identity number of the company |
U72200MH1998PLC113636 |
|
Name of the
company |
DESIGNTECH SYSTEMS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
6, Commerce Centre, Rambaug Colony, Paud Road, Pune-411038, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the charge to be modified |
10168412 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
State Bank of India, Commercial Branch, 1548 A, Sadashiv Peth, Tilak Road, Pune-411030, Maharashtra, India |
|
Nature of
instrument creating charge |
1) Supplemental
Agreement of Loan-Cum-Hypothecation 2) Memorandum for
recording Extension of Mortgage by Deposit of Title Deeds covering Enhanced
Limits and/or creation of Equitable Mortgage on Additional Properties for
Existing Limits and Enhanced Limits and Additional Facilities 3) Letter of
Arrangement (All the
documents executed for a single modification) |
|
Date of
instrument Creating the charge |
28.01.2012 |
|
Amount secured by
the charge |
Rs. 191.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per Agreement
with the Bank Terms of repayment As per Agreement
with the Bank Margin Raw Material,
Semi Finished and Finished Goods 25%, Domestic Receivables 40%, Letter of
Credit and Bank Guarantee 25% Extent and operation of the charge Exclusive charge
of State Bank of India. The charge on
hypothecated and mortgaged assets continues till full repayment of Loan. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
all present and future stock, raw materials, semi finished and finished
goods, book debts, receivables, Stores, Stock in Process, Consumable stores
and spares including Goods in Transit/Shipment Vehicles, Computers, laptop
and all other equipment and all other tangible movable assets of the Company
(both present and future) and Mortgage of Immovable properties of company -
viz. 1)Office No.5,1st
Floor adm.54.85 Sq. Mtrs. built up along with terrace adm.19.50 Sq. Mtrs. and
car park of 9.29 Sq.Mtrs.in the
'Commerce Centre 'building constructed on Plot No.16 out of S.No.121+122 at
Kothrud, Pune 2) Office
No.8,2nd Floor,1165 Sq. Ft.=108.234 Sq. Mtrs built up in the 'Commerce Centre
'building constructed on Plot No.16 out of S.No.121+122 at Kothrud, Pune. 3) Office
No.11,2nd Floor, 1755Sq.Ft.=163.042 Sq. Mtrs. built up together with
exclusive right to use 2 Car Parking adm.9.29 Sq. Mtrs.=100 Sq. ft each
together with furniture, fixtures, fittings, A. C. therein in 'Commerce
Centre 'building constructed on Plot No.16 out of S.No.121+122 at Kothrud,
Pune. 4) Flat No.3 on
3rd Floor,1260 Sq. Ft. together with attached terrace of 104.16 Sq. Fts. in
'Dhanashree', Kothrud, Pune 5) Flat No.4 on 4th
Floor,1260 Sq. fts. built up, car parking 125 Sq Ft.=11.62 Sq.Mtrs.in
'Dhanashree', Kothrud, Pune 6) Plot
No.103A,CST No.281,Flat No.3,area 67.59 Sq. mtrs (Built up area).All that
piece and parcel of the flat sit. in building "Palm
Court"313,Solaris II, Opposite L and T Gate No.6 const. at Plot
No.103A,CST No.281 at " The Siddhi Immigrants CHS Limited’ within Mumbai
Municipal Corporation. Property of Vikas Khanvelkar – Office No.6, 1st
Floor in “Commerce Centre” constructed on Plot No.16 out of S.No.121+122 at
Kothrud. Property of Mr. and Mrs. Khanvelkar – Flat No.1, 1st
Floor along with terrace and car parking in a building “Dhanashree”, Kothrud,
Pune. |
|
Whether any of
the property or interest therein under reference is not registered in the
name of the company. |
Yes |
|
If yes, in whose
name it is registers |
Mr. and Mrs.
Khanvelkar |
|
Date of
instrument modifying the charge |
28.12.2011 |
|
Particulars of
the present modification |
Company has
availed additional facilities of Rs.30.000 Millions. Total Facilities availed
by Co. Rs.190.000 Millions.1.000 Million. Charge on hypothecated assets and
Mort. on immovable Property of Company sit. at Flat No.3 and Flat No.4 in
'Dhanashree', Plot No.103A, CST No.281, Flat No.3,area 67.59 Sq. mtrs (Built
up area)sit. in "Palm Court", Office No.5 (1st Floor),Office
No.8(2nd Floor),Office No.11(2nd Floor) all 3 offices sit. at 'Commerce
Centre' constructed on Plot No.16 out of S.No.121+122 at Kothrud extended to
secure total facilities availed by Co. |
FIXED ASSETS
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computers and Accessories
·
Computer Software
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 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. 54.56 |
|
|
1 |
Rs. 87.45 |
|
Euro |
1 |
Rs. 71.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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.