MIRA
INFORM REPORT
|
Report Date : |
05.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
CYBERNET IT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No. 205/206, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
03.03.2000 |
|
|
|
|
Com. Reg. No.: |
11-014549 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.3.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200PN2000PTC014549 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEC01557D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC5138P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Service Provider for Computer Hardware and Peripherals. |
|
|
|
|
No. of
Employees: |
Information denied by management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 80000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitments. The company 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.
INDIAN ECONOMIC OVERVIEW
|
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 DENIED BY
|
Name : |
Mr. Arul Srinivasan |
|
Designation : |
Director |
|
Contact No.: |
91-20-25539384/25520662 |
|
Date : |
03.12.2012 |
LOCATIONS
|
Registered Office : |
Office No. 205/206, Shrinath Plaza, 1184/4 Dnyaneshwar Paduka Chowk,
Shivajinagar, Pune – 411004, Maharashtra, India |
|
Tel. No.: |
91-20-25539384/25539147/25520661 91-93250 94337 (sales) 91-9325093300 (Support) 91-9325094338 (HR) |
|
Fax No.: |
91-20-25520662 |
|
E-Mail : |
sales@cybernetit.com (sales) support@cybernetit.com (support) |
|
Web Site: |
DIRECTORS
|
Name : |
Mr. Naresh Jamnadas Lalwani |
|
Designation : |
Director |
|
Address : |
Flat No. 101, 'F' Building, Patil Regency, Erandwane, Pune – 411004, |
|
Date of Birth/Age : |
25.01.1968 |
|
Date of Appointment : |
03.03.2000 |
|
Din No.: |
00376650 |
|
|
|
|
Name : |
Mr. Arul Srinivasan |
|
Designation : |
Director |
|
Address : |
Flat No. 6, Plot no. 26, Girija Housing Society, MIT Road, Paud Road,
Pune – 411004, Maharashtra, India |
|
Date of Birth/Age : |
22.10.1967 |
|
Date of Appointment : |
21.02.2007 |
|
Din No.: |
00794306 |
|
|
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Naresh Jamnadas Lalwani |
|
15000 |
|
Mr. Arul Srinivasan |
|
15000 |
|
|
|
|
|
Total |
|
30000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2012
(AS ON )
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider for Computer Hardware and Peripherals. |
GENERAL INFORMATION
|
Customers : |
·
Union is Strength ·
DSK ·
Mass Corp ·
MIT Pune ·
Maharashtra Knowledge corporation Government Sector ·
· Videsh Sanchar Nigam Limited Arvi And Dighi. · Income Tax Department (Sadhu Vaswani Chowk, Pune) ·
Income Tax Department ( · ARDE ·
CCE RandD ( Educational Centres · Sinhagad Group of Institutes · M.I.T. Group of Institutes · Symbosis Institute of Foreign Trade · Vaikunth Mehta National Institute of Co-Operative Management ·
Shree Saraswati New · Tasmac ·
·
Anuradha Engg. College , ·
· Tolani Maritime Institute, Pune. · DSK Corporatism · Indian Seamless Metal and Tubes Limited · Bilcare Pharmaceuticals Limited · Datapro Electronics Private Limited. · Greaves P.T.U. India Limited · Merloni Thermo Sanitory (I) Limited · Business Standard Newspaper · Global Telesystems Limited · Transamerica Apple Finance Limited · Tata Quality Management Services · Behr India Private Limited. · Matther and Platt · Kalyani Seamless Tubes Limited · Trinity Engineering Limited · Metric Consultancy Limited · Tata Honeywell · Maharashtra Road Carrier Limited · Tata Technologies · Vasantdada Sugar Institute, Manjari Farms. · P and O Nedlloyd Limited · Finolex Cables Limited · Baker Oil Limited ·
· Telco Automation Limited · Kailash Auto Builders Limited · Innovative Technomics Private Limited. · Mahindara Ashtech Limited Pimpri. Software House · Extentia Information Tech. Private Limited. · Neilsoft India Private Limited. · Neil Automation Technology Private Limited. ·
· Indus Software Private Limited. · SNS Technologies · Invensys India Limited · Telegenisys India Private Limited. · Shriram Infotech Private Limited. · Accord Software and Retails Management Private Limited. · Gurukul Technologies Private Limited. · Veritas Software India Private Limited. · Sungrace Computers (P) Limited · Infinity Data Systems · Gurukul Software Systems Limited · Drushti Info Networks Private Limited. · Infonox Software Private Limited. Service Sector · Hotel Sun-N-Sand ·
Pizza Hut ( |
|
|
|
|
No. of Employees : |
Information denied by management. |
|
|
|
|
Bankers : |
·
IndusInd Bank Limited, 2401, ·
ICICI Bank Limited, |
|
|
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kiran Kanani and Associates Chartered Accountant |
|
Address : |
71 A, Rasta Peth, Narshimha Apartment, Pune – 411011, |
|
Pan No.: |
ACDPK5179R |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55000 |
` |
Rs.100/- each |
Rs.5.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Shares |
Rs.100/- each |
Rs.3.000
Millions |
|
|
|
|
|
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 |
3.000 |
3.000 |
4.875 |
|
|
2] Share Application Money |
1.875 |
1.875 |
0.000 |
|
|
3] Reserves & Surplus |
15.313 |
13.858 |
12.265 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
20.188 |
18.733 |
17.140 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
|
|
0.152 |
|
|
2] Unsecured Loans |
|
|
0.044 |
|
|
TOTAL BORROWING |
4.217 |
4.051 |
0.196 |
|
|
DEFERRED TAX LIABILITIES |
0.201 |
0.201 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
24.606 |
22.985 |
17.336 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
12.388 |
12.329 |
11.547 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
13.970
|
17.397 |
9.472 |
|
|
Sundry Debtors |
34.784
|
77.940 |
24.608 |
|
|
Cash & Bank Balances |
(13.492)
|
(11.945) |
0.734 |
|
|
Other Current Assets |
1.484
|
1.851 |
1.847 |
|
|
Loans & Advances |
1.035
|
0.959 |
0.933 |
|
Total
Current Assets |
37.781
|
86.202 |
37.593 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
24.130
|
74.333 |
18.149 |
|
|
Other Current Liabilities |
1.387
|
1.213 |
1.844 |
|
|
Provisions |
0.046
|
0.000 |
11.811 |
|
Total
Current Liabilities |
25.563
|
75.546 |
31.804 |
|
|
Net Current Assets |
12.218
|
10.656 |
5.789 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
24.606 |
22.985 |
17.336 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
193.500 |
198.500 |
179.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
192.339 |
196.908 |
177.393 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX, DEPRECIATION AND AMORTISATI |
1.161 |
1.592 |
1.907 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
0.000 |
0.218 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.161 |
1.374 |
1.651 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.383 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.161 |
1.374 |
1.268 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
38.7 |
- |
- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.60 |
0.69 |
0.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.31 |
1.39 |
3.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.08 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.48 |
4.25 |
1.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48 |
1.14 |
1.18 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
Yes |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
No |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency Rating,
if available |
No |
SUNDRY CREDITORS
DETAILS:
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Sundry Creditors |
24.130
|
74.333 |
18.149 |
|
|
|
|
|
|
Total |
24.130
|
74.333 |
18.149 |
SALES AND OPERATION
The sales and other income amounted to RS.
193.500 Millions during the year 2011-2012 as against Rs.198.500 Millions in
the year 2010-11 showing a very marginal decline of about 2.47%
FORM 8
|
Corporate identity
number of the company |
U72200PN2000PTC014549 |
|
Name of the
company |
CYBERNET
IT PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Office No. 205/206, Email: sales@cybernetit.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10223875 |
|
Type of charge |
· Immovable property · Book debts · Movable property (not being pledge) ·
Others |
|
Particular of
charge holder |
IndusInd Bank Limited, 2401, Email: renu.ahirwal@indusind.com |
|
Nature of
instrument creating charge |
Supplemental Deed of Hypothecation by the Borrower and Supplemental Memorandum of
Entry both the documents executed between the Bank and the Borrower Company
to secure the existing limit of Rs.16.000 Millions |
|
Date of
instrument Creating the charge |
20.04.2012 |
|
Amount secured by
the charge |
Rs.16.000 Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest 4.25% above IBL Base Rate rising or falling therewith i.e.
presently 15% Penal Interest @18.75% or 2% above present applicable rate on
the default of any of the conditions. Term
of Payment: DCC: On Demand subject to review at annual intervals or as
may be decided by the Bank i.e.31.01.2013. Margin Stock:25% Book Debts:40% (Covering Period:90 days.) Extent and
operation of the charge IndusInd
Bank Limited Pune will have first and exclusive charge over entire current
assets of the Company comprising inter alia of stocks in all its
elements,receivables ,book debts and other current assets. The Company has
extended the additional property as collateral security in addition to the
existing property. Both the Directors have set personal guarantee for the
repayment of entire loan. The charge will be in continuous mode till the
repayment of loan with interest thereon. Others: The
Company, by virtue of the Board Resolution passed on 21/03/2012,has given
assent to all the Terms & Conditions, Covenants, as provided in the
Bank's Sanction Letter No. IBL/CAD/2209/2011-12 Dt.15.03.12 & have
executed the related loan document(s)/ Agreement(s) through the Director(s),who
have received and signed the documents
in physical form and who have been authorized to file eform-8 for the
modifications in the existing limits and in the nature and scope of the
charge on agreed terms. |
|
Short particulars
of the property charged (Including location of the property) |
Entire
current assets inclusive of stock receivables book debts generated through
the commercial transactions and maintained at the Registered Office and at
works of the Company. EM
of the residential flat owned by Mr. Naresh Lalwani at 101, First Floor,
Building 'F" Patil regency admeasuring about 109.16 Sq.Mtrs bearing CTS
No.19 Village Erandwana Taluka Haveli Distt Pune and as geographicated in the
Memorandum itself. EM
of all that pieces and parcels of shop admeasuring about 750 sq ft bearing
No.6 on the basement in 'B' wing of the building known as 'Shrinath Plaza'on
land bearing Old City S.No.206&189 New City S.No.1184 Final Plot No.559
and as geographicated in the Memorandum of Entry itself. |
|
Particulars of the present modification |
By
this present modification, the company extended additional security ,through
the execution of Supplemental Deed of
Hypothecation of current assets, along
with Supplemental Deed of Memorandum of Entry of additional security of
personal property of one of the Directors, for the existing limit of
Rs.16.000 Millions |
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.54.95 |
|
|
1 |
Rs.88.42 |
|
Euro |
1 |
Rs.71.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.