MIRA INFORM REPORT

 

 

Report Date :

05.12.2012

 

IDENTIFICATION DETAILS

 

Name :

ACCENTURE SERVICES PRIVATE LIMITED (w.e.f. 05.12.2000)

 

 

Formerly Known As :

ANDERSON CONSULTING SERVICES PRIVATE LIMITED

 

 

Registered Office :

Plant 3, Godrej and Boyce Complex, LBS Marg, Vikhroli (West), Mumbai – 400079, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

05.07.1999

 

 

Com. Reg. No.:

11-120656

 

 

Capital Investment / Paid-up Capital :

Rs. 35.490 Millions

 

 

CIN No.:

[Company Identification No.]

U74140MH1999PTC120656

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMA14563D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Providing management consultancy services.

 

 

No. of Employees :

37000 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (66)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD 126800000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established company having fine track. Latest financials i.e. 2011-12 are missing from the government department from the financials of 2011. It has been seen that company is performing very well. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments.

 

The company can be considered good for normal business dealings at usual trade terms and condition.

 

Profit and loss account for the year 2010 and 2011 is not available.

 

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

 

 

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 DECLINED BY

 

Name :

Mr. Ramesh Ramamurthy

Designation :

Director

Contact No.:

91-80-41060000

Date :

04.12.2012

 

 

LOCATIONS

 

Registered Office :

Plant 3, Godrej and Boyce Complex, LBS Marg, Vikhroli (West), Mumbai – 400079, Maharashtra, India

Tel. No.:

91-22-22814000 / 66003000

Mobile No.:

91-22-22814001 / 25188281 / 25188277

E-Mail :

usha.suresh@accenture.com

 

 

Factory  :

Lease Plan India Limited, 303, B-wing, Eurekai Tower, Near Goregaon Sports Club, Minspace, Mumbai, Maharashtra, India

Tel. No.:

91-22-28442333

 

 

DIRECTORS

 

AS ON 10.07.2012

 

Name :

Mr. Avinash Vashistha

Designation :

Director

Address :

No. 268, 4th Cross, 2nd Block, RMV 2nd Stage, Bangalore-560094, Karnataka, India

Date of Birth/Age :

23.04.1961

Date of Appointment :

18.03.2011

DIN No.:

01693170

 

 

Name :

Mr. Ramesh V. Ramamurthy

Designation :

Director

Address :

G – 1102, Spring Fields’s Apartments Sarjapura Road, Near Bellandur Gate, Ambalipura, Bangalore – 560 102, Karnataka, India

Date of Birth/Age :

29.07.1966

Date of Appointment :

20.01.2007

DIN No.:

01805704

 

 

Name :

Mr. Sanjay Jain

Designation :

Director

Address :

F – 2/3 Vasant Vihar, New Delhi – 110057, Delhi, India

Date of Birth/Age :

16.10.1959

Date of Appointment :

05.07.1999

DIN No.:

00380643

 

 

Name :

Mr. Scott K. Ahlstrom

Designation :

Director

Address :

3021, Iraouois Road, Wilmette, Illinois 60091

Date of Birth/Age :

04.07.1959

Date of Appointment :

30.11.2005

DIN No.:

00364104

 

 

Name :

Ms. Rekha Mehrota Menon

Designation :

Director

Address :

133, I A Main St, Bed Layout Koramangala, Banaglore – 560034, Karanataka, India

Date of Birth/Age :

05.01.1959

Date of Appointment :

06.08.2009

DIN No.:

02768316

 

 

KEY EXECUTIVES

 

Name :

Ms. Usha Suresh

Designation :

Secretary

Address :

14, A / 11, Manish Nagar, J. P. Road, Andheri [West], Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

28.07.1965

Date of Appointment :

02.08.2004

Pan No.:

AGVPS6402K

 

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 10.07.2012

 

Names of Shareholders

No. of Shares

Accenture Minority I BV– Netherlands

93

Accenture Services Mauritius, Mauritius

332554

Total

332647

 

AS ON 10.07.2012

 

Equity Shares Break Up

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Providing management consultancy services.

 

 

GENERAL INFORMATION

 

No. of Employees :

37000 (Approximately)

 

 

Bankers :

Not Available

 

 

Facilities :

Secured Loan

 

Rs. In Millions

31.03.2011

Rs. In Millions

31.03.2010

Finance Lease Obligation Long-Term Secured

1.264

6.212

 

 

 

TOTAL

1.264

6.212

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

B S R and Company

Chartered Accountants

Address :

KPMG  House, Kamala Mills Compound 448, Senapati Bapat Marg, Lower Parel, Mumbai-400013, Maharashtra, India

Tel No.:

91-22-30440800

Fax No.:

91-22-30440900

PAN No.:

AAAFB9852F

 

 

Holding Company :

Beaumont Development Centre Holdings Limited

 

 

Subsidiaries :

·         Addval Technology (India) Private Limited

·         Corliant Internetworking Private Limited

 

 

Accenture Group Companies / Fellow Subsidiaries :

·         Sistemes Consulting, S.L. Andorra

·         Accenture Branch Angola Angola

·         Accenture S.A. Argentina

·         Accenture Sc Srl Argentina

·         Argentina Delivery Center Argentina

·         Accenture Australia (1) Limited Australia

·         Accenture Australia (2) Limited Australia

·         Accenture Australia (3) Limited Australia

·         Accenture Australia Holdi Australia

·         Accenture Australia Limited Australia

·         ATS Australia Australia

·         Avanade Australia Pty Limited Australia

·         Accenture GmbH Austria

·         ATS Austria Austria

·         Accenture BPM CVBA/SCRL Belgium

·         Accenture N.V. Belgium

·         Accenture Technology Solutions Belgium

·         Avanade Belgium Sprl Belgium

·         Accenture Limited Bermuda Entities

·         Enmax Technology - Bolivi Bolivia

·         Accenture (Botswana) Pty Limited Botswana

·         Accenture Automacao Brazil

·         Accenture do Brasil Limited Brazil

·         Accenture Serv. Sup. Neg. Limited Brazil

·         Avanade Brasil Brazil

·         Acc. Pte Limited -Brunei Branch Brunei

·         ABSUI Canada

·         Acc Technology Sol-Canada Canada

·         Acc. Business Services .Brit. Col. LP Canada

·         Accenture Inc Canada

·         Avanade Canada Inc. Canada

·         Accenture Chile Asesorias Chile

·         Accen Tec Sol (Dalian) Company China

·         Accent.Techn. Solutions China

·         Accenture (China)-BJ Brch China

·         Accenture (China)-GZ Brch China

·         Accenture CHN Company Limited China

·         Acn Chn Cd Brch China

·         Acn Chn Zb Brch China

·         Avanade Guangzhou China

·         B.G.I. Tech Company Limited China

·         GZ BaoZhe Info-Con Company Limited China

·         Qi Jie (BJ) Info Tech Limited China

·         Accenture Limited Colombia

·         Accenture SA - Cyprus Br. Cyprus

·         Accenture Central Europe Czech Republic

·         Accenture Services s.r.o. Czech Republic

·         ATS Czech Republics.r.o Czech Republic

·         Accenture A/S Denmark

·         Accenture Tech. Solutions Denmark

·         Avanade Denmark AS Denmark

·         Accenture MEBV-QFC Branch Doha

·         Enmaxtech Ecuador S A Ecuador

·         Accenture LLC Egypt

·         Accenture Oy Finland

·         Accenture Services Oy Finland

·         Accenture Techn. Solutions Finland

·         Avanade Finland Oy Finland

·         Accenture Insurance Services France

·         Accenture S.A.S. France

·         Accenture Services France

·         Accenture Technology Sol. France

·         Avanade France SAS France

·         Digiplug SAS France

·         InVita France

·         Acc Serv fur Human Resour Germany

·         Acc Serv Kreditinstitute Germany

·         Acc Tech Solutions GmbH Germany

·         Accenture CAS GmbH Germany

·         Accenture Dienstlei. GmbH Germany

·         Accenture GmbH Germany

·         Accenture Hold GmbH and Company Germany

·         Accenture Services GmbH Germany

·         AHCMS GmbH Germany

·         Avanade Deutschland GmbH Germany

·         Accen. Soc. Anonyme Op. Su Greece

·         Accenture Societe Anonyme Greece

·         Acn Chn Th Brch Guangzhou

·         Accenture Comapny Limited Hong Kong

·         Accenture Tech. Solut. (HK) Hong Kong

·         Avanade Hong Kong Limited Hong Kong

·         Accenture Kft Hungary

·         PT Accenture Indonesia

·         Accenture Ireland

·         Accenture plc Ireland

·         Accenture Techno. Solution Limited Ireland

·         AGS – GCP Ireland

·         AGS - IP Ireland

·         Accenture Limited Israel

·         Acc. Ins. Ser. and Systems Italy

·         Accenture HR Services SpA Italy

·         Accenture IS S.P.A. Italy

·         Accenture Outsourcing Srl Italy

·         Accenture S.p.A Italy

·         Accenture Technology Solu Italy

·         Avanade Italy Srl Italy

·         Accenture Japan Limited Japan

·         Accenture Techn. Solut. Coor Japan

·         Avanade Japan KK Japan

·         Renacentis IT Services Japan

·         Sopia Corporation Japan

·         Accenture East Africa Limited Kenya

·         Latvijas Filiale Latvia

·         Coritel S.A. Spain

·         Customer Works Europe SL Spain

·         Energuia Web S.A. Spain

·         Net Personas SIGP, S.L. Spain

·         Accenture AB Sweden

·         Accenture Services AB Sweden

·         Accenture Tech. Sol. Swe AB Sweden

·         Avanade Sweden AB Sweden

·         Acc Technology Solutions Switzerland

·         Accenture AG Switzerland

·         Accenture Services AG Switzerland

·         ACN Supply Chain Services Switzerland

·         Avanade Schweiz GmbH Switzerland

·         Accenture Global Ser GmbH Switzerland Entities

·         Accenture Int S.ar.l Sw B Switzerland Entities

·         Accenture Company Limited Taiwan

·         Accenture Company Limited Thailand

·         Accenture Solution Company Limited Thailand

·         Accenture Tech.Sol. Company Limited Thailand

·         Avanade (Thailand) Company Limited Thailand

·         IT One Company Limited Thailand

·         Accenture SAS Tunisie Tunis

·         Accenture Danismanlik Lim Turkey

·         Acc. HR Services, Inc. U.S.A.

·         Accenture LLP U.S.A.

·         ACN Insurance Serv LLC U.S.A.

·         Avanade Fed Svs LLC U.S.A.

·         Avanade Inc. U.S.A.

·         Avanade Int. Corp. U.S.A.

·         Accenture Ukraine Ukraine

·         Accen.Mid. East B.V.Abu D United Arab Emirates

·         Accen.Middle East B.V Dub United Arab Emirates

·         Accent.Techn. Solut. Limited United Kingdom

·         Accenture (UK) Limited United Kingdom

·         Accenture HR Services Lim United Kingdom

·         Accenture Plc (Gibraltar) United Kingdom

·         Accenture Services Limited United Kingdom

·         Accenture (Azerb.) Limited United Kingdom

·         Avanade Europe Holdings Limited United Kingdom

·         Avanade Europe Services Limited United Kingdom

·         Avanade UK Limited United Kingdom

·         Concadia Limited United Kingdom

·         Accenture Uruguay Srl URUGUAY

·         Accent. Federal Svcs LLC USA

·         Accenture BPO Service LLC USA

·         Accenture Sub, Inc USA

·         Accenture Technology Solu USA

·         Accenture, Inc USA

·         Concadia LLC USA

·         Navitaire, Inc USA

·         Proquire LLC USA

·         Accenture C.A. Venezuela

 

 

Name of the Entity :

·         Accenture (lux) sarl Luxembourg

·         Accent. Fina. Norway II SCA Luxemburg Entities

·         Accent. Finan. Norway I SCA Luxemburg Entities

·         Accenture Interna. S.ar.l Luxemburg Entities

·         Accenture SCA Luxemburg Entities

·         Accent. Tech. Solut. Sdn Bhd Malaysia

·         Accenture Sdn Bhd Malaysia

·         Accenture Solutions Sdn B Malaysia

·         Avanade Malaysia Malaysia

·         Accenture (Mauritius) Limited Mauritius

·         Acct. Mauritius Onshore Limited Mauritius

·         Accent Tech Sol SA de CV Mexico

·         Accenture S.C. Mexico

·         Accenture S.L. Mexico

·         STP Mexico

·         Acc Serv Center Morocco Morocco

·         Accent Participations B.V Netherland Entities

·         Accent. Techn. Ventures B.V Netherland Entities

·         Accenture Holdings B.V. Netherland Entities

·         Acc Insurance Services BV Netherlands

·         Accenture B.V. Netherlands

·         Accenture Out Services BV Netherlands

·         Accenture Tech. Solut. B.V Netherlands

·         Avanade Netherlands BV Netherlands

·         Accenture New Zealand Limited New Zealand

·         Accenture Nigeria

·         Accenture AS Norway

·         Avanade Norway AS Norway

·         Accenture Middle East Oma Oman

·         Accenture Peru Peru

·         Acc Healthcare Proces Inc Philippines

·         Acc Inc Navitaire Ops Philippines

·         Accenture Inc Philippines

·         Accenture Inc BPO Philippines

·         Accenture Inc Call Center Philippines

·         Accenture Inc Cebu Ops Philippines

·         Accenture Inc Soft Dev Philippines

·         Accenture Services sp.z.o Poland

·         Accenture sp.z.o.o. Poland

·         Accenture Consultores de Portugal

·         ATS,S.A. Portugal

·         Accenture Puerto Rico LLC Puerto Rico

·         Accenture Romania (CE) Romania

·         Accenture Services S.R.L Romania

·         Accenture LLC Russia

·         Accenture plc Russia

·         Acc. MEBV Saudi Branch Saudi Arabia

·         Accent. Tech. Solut. Pte Limited Singapore

·         Accenture Pte Limited Singapore

·         Avanade Asia Pte Limited Singapore

·         Acc Tech Sol Slovak s.r.o Slovak Republic

·         Accenture s.r.o Slovak Republic

·         Accenture (SA) (Pty) Limited South Africa

·         Accenture Technology Solu South Africa

·         Accenture Korea B.V. South Korea

·         Accenture Limited South Korea

·         Accenture Techn. Solul. Limited South Korea

·         Accent Holding Iberia, S.L Spain

·         Accenture S.L. Spain

·         Acn Hc Mgmt. Sol. S.L. Spain

·         Acn Os Services, S.A. Spain

·         Alnova Techn. Corporat. Sl Spain

·         Avanade Spain, S.L.U Spain

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2011

 

Authorised Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

Rs.100/- each

Rs. 100.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

354897

Equity Shares

Rs.100/- each

Rs. 35.490 Millions

 

 

 

 

 

 

Notes:

 

(A)    Of the above, 354,797 (2010: 354,797) equity shares of Rs 100 each fully paid-up are held by Beaumont Development Centre Holdings Limited, Mauritius (the holding company).

 

(B)    Of the above, 354,797 (2010: 354,797) equity shares of Rs 100 each fully paid-up are held by Beaumont Development Centre Holdings Limited, Mauritius (the holding company).

 

 

AS ON 10.07.2012

 

Authorised Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

1140000

Equity Shares

Rs.100/- each

Rs. 114.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

332647

Equity Shares

Rs.100/- each

Rs. 33.265 Millions

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2011

31.03.2010

31.03.2009

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

35.490

35.490

35.490

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

31653.900

22686.854

16904.101

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

31689.390

22722.344

16939.591

LOAN FUNDS

 

 

 

1] Secured Loans

1.264

6.212

24.066

2] Unsecured Loans

0.000

0.000

0.000

TOTAL BORROWING

1.264

6.212

24.066

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

31690.654

22728.556

16963.657

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

6899.410

5562.786

5976.847

Capital work-in-progress

175.646

87.415

203.235

 

 
 

 

INVESTMENT

63.873

52.075

52.075

DEFERREX TAX ASSETS

2037.292

900.565

620.187

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
0.000
0.000
0.000

 

Sundry Debtors
23933.762
15794.422
9245.852

 

Cash & Bank Balances
3118.421
1979.210
3516.644

 

Other Current Assets
632.035
553.959
0.000

 

Loans & Advances
7592.107
6824.555
6106.884

Total Current Assets
35276.325

25152.146

18869.380

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors
6952.193
5694.030
5159.821

 

Other Current Liabilities
2684.486
1621.988
1997.314

 

Provisions
3125.213
1710.413
1600.932

Total Current Liabilities
12761.892

9026.431

8758.067

Net Current Assets
22514.433
16125.715
10111.313

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

31690.654

22728.556

16963.657

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

 

 

 

 

TURNOVER

 

52699.454

 

 

 

 

 

Less

EXPENSES

NA

NA

43997.454

 

 

 

 

 

 

PROFIT BEFORE TAX

 

 

8702.001

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

 

21.51

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

Net Profit Margin

(PBT/Sales)

(%)

NA

NA
16.51

 

 

NA

NA

 

Return on Total Assets

(PBT/Total Assets}

(%)

NA

NA
35.02

 

 

NA

NA
 

Return on Investment (ROI)

(PBT/Networth)

 

NA

NA
0.51

 

 
 

 
 

Debt Equity Ratio

(Total Liability/Networth)

 
0.40
0.40

0.52

 

 
 
 

 

Current Ratio

(Current Asset/Current Liability)

 
2.76
2.79
2.15

 

 

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 one years

Yes

13]

Reasons for variation <> 20%

-----

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

No

20]

Export / Import details (if applicable)

No

21]

Market information

-----

22]

Litigations that the firm / promoter involved in

-----

23]

Banking Details

No

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

No

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

No

 

 

THE DETAILS OF SUNDRY CREDITORS:

Rs. In Millions

Particulars

31.03.2011

31.03.2010

31.03.2009

Sundry Creditors

 

 

 

Creditors due small micro enterprises

1.019

1.277

--

Creditors due others

6951.174

5692.753

5159.821

Total

6952.193

5694.030

5159.821

 

 

NOTE:

 

The registered address of the company has been shifted from 17th Floor, Express Tower, Nariman Point, Mumbai-400021, Maharashtra, India to the present address w.e.f. 01.09.2008.

 

 

BACKGROUND

 

Subject was incorporated on 5 July 1999 as a private limited company under the Companies Act, 1956 (‘the Act’) to enable it to provide consulting and outsourcing services to its clients. Drawing on a combination of industry expertise, functional capabilities, alliances and technology, ASPL delivers competitively priced high-value services that help clients improve business performance. The Company currently has operations in multiple cities across India.

 

Accenture India Private Limited amalgamated with the Company with effect from 1st April 2007 based on a scheme sanctioned by the Honorable High Court of Mumbai.

 

 

PERFORMANCE OF THE COMPANY

 

The Company witnessed substantial growth in its turnover and recorded a healthy profit during the Financial Year ended March 31, 2011.

 

 

FIXED ASSETS

 

Ø       Leasehold Improvements

Ø       Technology assets

Ø       Computers

Ø       Furniture and Fixtures

Ø       Vehicles

Ø        Office and other equipments

Ø        Software

Ø        Goodwill

 

 

 

 

 

 

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 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. 54.94

UK Pound

1

Rs. 88.42

Euro

1

Rs. 71.71

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Report Prepared by :

DPT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

8

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILIRY

1~10

7

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

9

--CREDIT LINES

1~10

7

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

66

 

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.