MIRA INFORM REPORT

 

 

Report Date :

23.02.2012

 

IDENTIFICATION DETAILS

 

Name :

SKJ LEGAL

 

 

Registered Office :

2nd Floor, Kundan Chambers, Thube Park, Near Sancheti Hospital, Pune – 411005, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

2008

 

 

Capital Investment / Paid-up Capital :

Rs.5.098 Millions

 

 

Legal Form :

Sole Proprietory Concern

 

 

Line of Business :

Full Service Corporate Law Firm.

 

 

No. of Employees :

20 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 20000

 

 

Status :

Small Concern

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is a small proprietory concern in its field. Its scale of activities are limited. However, trade relations are reported as fair. Business is active. Payments are reported to be slow.

 

The concern can be considered for small business dealings with some cautions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INFORMATION PARTED BY

 

Name :

Mr. Sanjay Dhindle

Designation :

Senior Associate

Contact No.:

91-9890447492

Date :

22.02.2012

 

 

LOCATIONS

 

Registered Office :

2nd Floor, Kundan Chambers, Thube Park, Near Sancheti Hospital, Pune – 411005, Maharashtra, India

Tel. No.:

91-20-30223654

Mobile No.:

91-9881068320

91-9890447492 (Mr. Sanjay Dhindle)

Fax No.:

91-20-25536661

E-Mail :

pankaj@skjlegal.com

info@skjlegal.com

Website :

www.skjlegal.com

Area :

2700 Sq. ft

Location :

Owned

 

 

SOLE PROPRIETOR

 

Name :

Mr. Pankaj Jain

Designation :

Proprietor

Address :

2A/2B, Bhau Patil Road, Bopodi, Pune – 411020, Maharashtra, India

Date of Birth/Age :

29.09.1981

Qualification :

LL.B/ LL.M

Experience :

7 Years

 

 

KEY EXECUTIVES

 

Name :

Mr. Sanjay Dhindle

Designation :

Senior Associate

 

 

Name :

Mr. Sabyasachi Ghosh

Designation :

Manager

Address :

Flat No. 202, Geet-Ganga Co-operative Housing Society, S. No. 241/1, Baner, Pune – 411007, Maharashtra, India

Date of Birth/Age :

12.10.1964

Qualification :

LL.B

Experience :

22 Years

 

 

BUSINESS DETAILS

 

Line of Business :

Full Service Corporate Law Firm.

 

 

GENERAL INFORMATION

 

Customers :

Individuals and Companies

 

 

No. of Employees :

20 (Approximately)

 

 

Bankers :

·         SBI, Deccan Gymkhana

·         HDFC Bank

·         Vijaya Bank

 

 

Facilities :

Secured Loan

As on 31.03.2011

(Rs. in Millions)

As on 31.03.2010

(Rs. in Millions)

HDFC Loan (Honda City Loan)

0.000

0.180

Total

0.000

0.180

 

 

 

Unsecured Loan

As on 31.03.2011

(Rs. in Millions)

As on 31.03.2010

(Rs. in Millions)

Bhartimatromony

0.000

0.258

Total

0.000

0.258

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Shah Baldota and Company

Chartered Accountants

Address :

927, Synagague Street, 2A, Gangotri Complex Camp, Pune – 411001, Maharashtra, India

Tel. No.:

91-20-26134610

 

 

Sister Concerns :

  • SKJ Global Solutions Private Limited

Address: 2nd Floor, Kundan Chambers, Thube Park, Near Sancheti Hospital, Pune – 411005, Maharashtra, India

Line of Business: A high quality data analytical company

  • SKJ Juris Services Private Limited

Address: 2nd Floor, Kundan Chambers, Thube Park, Near Sancheti Hospital, Pune – 411005, Maharashtra, India

Line of Business: A Legal process outsourcing company

 

 

CAPITAL STRUCTURE

 

As on 31.03.2011

 

Capital Investment :

 

Owned :

Rs.5.098 Millions

Borrowed :

--

Total :

Rs.5.098 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

5.098

5.334

4.584

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

0.000

0.402

0.000

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

5.098

5.736

4.584

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.180

0.381

2] Unsecured Loans

0.000

0.258

0.196

TOTAL BORROWING

0.000

0.438

0.577

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

5.098

6.174

5.161

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

0.862

2.245

2.392

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.420

0.290

0.220

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

0.000

0.000

0.000

 

Sundry Debtors

0.098

0.000

0.000

 

Cash & Bank Balances

0.647

0.344

0.114

 

Other Current Assets

0.343

0.346

0.300

 

Loans & Advances

3.071

2.949

2.135

Total Current Assets

4.159

3.639

2.549

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors

0.073

0.000

0.000

 

Other Current Liabilities

0.258

0.000

0.000

 

Provisions

0.012

0.000

0.000

Total Current Liabilities

0.343

0.000

0.000

Net Current Assets

3.816

3.639

2.549

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

5.098

6.174

5.161

 

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

SALES

 

 

 

 

 

Professional Receipts

4.215

0.000

0.000

 

 

Legal Fees Received

0.000

1.040

1.552

 

 

Bank Interest

0.000

0.000

0.004

 

 

Dividend

0.000

0.000

0.014

 

 

TOTAL                                     (A)

4.215

1.040

1.570

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Account Writing Charges

0.004

0.000

0.000

 

 

Books and Periodicals

0.017

0.000

0.000

 

 

Computer Repairs and Maintenance

0.017

0.006

0.020

 

 

Document Expenses

0.005

0.000

0.000

 

 

Digital Signature Expenses

0.000

0.000

0.001

 

 

Electricity Expenses

0.106

0.000

0.000

 

 

Interest on Car Loan

0.007

0.023

0.039

 

 

Legal Fees

1.005

0.013

0.097

 

 

Office Expenses

0.025

0.029

0.011

 

 

Postage and Telephone

0.141

0.011

0.012

 

 

Printing and Stationery

0.012

0.000

0.004

 

 

Professional Fees

0.033

0.002

0.000

 

 

Profession Tax

0.003

0.000

0.000

 

 

Salary

1.254

0.027

0.016

 

 

Advocate Salary

0.000

0.060

0.000

 

 

Security Charges

0.012

0.000

0.000

 

 

Staff Welfare

0.007

0.003

0.000

 

 

Trade Mark Fees

0.123

0.134

0.075

 

 

Travelling Expenses

0.151

0.124

0.007

 

 

Vehicle and Petrol Expenses

0.041

0.041

0.076

 

 

Vehicle Expenses

0.010

0.000

0.001

 

 

Vehicle Insurance

0.021

0.009

0.012

 

 

Bank Commission

0.000

0.002

0.002

 

 

TOTAL                                     (B)

2.994

0.484

0.373

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

1.221

0.556

1.197

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

0.007

0.000

0.000

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

1.214

0.556

1.197

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

0.190

0.154

0.163

 

 

 

 

 

 

SURPLUS                                                         (G)

1.024

0.402

1.034

 

 

Note : Sole Proprietory and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

PAT / Total Income

(%)

24.29

38.65

65.85

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

20.39

6.83

20.93

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.20

0.07

0.23

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

0.07

0.08

0.13

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

12.12

0.00

0.00

 

 

LOCAL AGENCY FURTHER INFORMATION

 

INTRODUCTION

 

SKJ group has two divisions: SKJ Legal — A full service corporate law firm, which handles its corporate legal matters for the Indian clients and SKJ Legal (Private) Limited, which handles its legal off-shoring business and provides high quality and low cost legal support services for lawyers, law firms and corporations throughout the world in a data secured environment.

 

Ski Legal’s clientele includes real estate developers, info-tech BPOs, software developing companies, risk and financial analysis companies, insurance companies, pharmaceutical and biotech companies, manufacturing companies, educational institutes among other in India and abroad.

SKJ Legal provides corporate legal services in India in a data secured environment. SKJ Legal believes in practical solution oriented approach with a commitment to deliver its services within realistic timeframes.

 

SERVICE LINES

 

1) Corporate and Business Laws

 

The ongoing industrial revolution has inspired the corporate houses and enthusiastic entrepreneurs to explore noble business ideas and convert such ideas into profitable business enterprise. For running a business enterprise like a greased machine, corporate and business laws need to be adhered to. The firms provide the following services in this regard:

 

The firm works in the following aspects of corporate and business laws:

 

  • Corporate, commercial, transactional, cross-border documentation.
  • Corporate governance.
  • Pre incorporation documentation.
  • Incorporation of companies.
  • Corporate Due Diligence.
  • Drafting of Shareholders agreements, investment agreements, etc.
  • Legal advice on corporate law issues and negotiation.
  • Incorporation of limited liability partnerships (LLPs) and conversion of Limited Liability Company into LLPs, partnership firms, etc.

 

2) Intellectual Property Services

 

Intellectual Property law deals with the creative ideas and expressions of the human mind that have commercial value and receives the legal protection of the property right. The major legal mechanisms for protection of intellectual property rights are copyrights, trademarks, patents and designs.

 

The Firm possesses information for protection of various intellectual property rights from its exploitation. It focuses on the registration of the intangible rights for the betterment in functioning of commercial trade.

 

‘The practical security of the abstract thoughts’ is the key of the organization. The firm caters in the infinite legal operation of intellectual property in the following enumerations.

 

  • Trademark Search and Watch.
  • Patent search that includes Novelty search, Validity search, Infringement search, and Family search and watch.
  • Patent drafting and proofreading.
  • Patent analysis and landscaping
  • Drafting of intellectual property related agreements such as license agreement, assignment deed, and registered user agreement among others.
  • IP audit
  • IP due diligence
  • lP mining

 

3) Employment and Industrial Laws

 

Employment and industrial laws encompasses the massive compilation of statutory labour welfare laws, administrative rulings, and legal precedents which cover all facets of the employer-employee relationship.

 

The firm provides the following services:

 

·         Employment and connected agreements including terms of offer, appointment, etc.

·         Discrimination at work place

·         Health and safety legislation

·         Trade Union issues

·         Employee disputes

·         Industrial issues in connection with mergers and acquisitions

 

4) Real Estate Laws

 

Real estate laws are the body of regulations and legal codes which pertain to such matters under a particular jurisdiction and include things such as commercial and residential real property transactions.

 

The firm provides the following services:

 

  • Search and title investigation and title report.
  • Purchase! Sale! Conveyance! Assignment deeds.
  • Lease deeds! Renting agreements.
  • Advice in development of real estate.
  • Acquisitions and dispositions of real estate.
  • Drafting, Negotiating and Resolving real estate disputes.
  • Liasioning with government and administrative land development authorities and regulatory compliance, land contract negotiation and drafting.
  • Project facilitation.
  • Property due diligence.
  • Advice on stamp duty and registration of various property documents/ agreements.

 

5) Litigation and Disputes Resolution Mechanism

 

Litigation is nothing but a judicial controversy. A contest in a court of law where the proceeding is conducted for the purposes of enforcing a right is litigation. Litigation requires timely and careful handling. The firm is affiliated with Jam, Kinkar and Company, which is an experienced commercial litigation law firm. Obtaining early advice may prevent expensive and time-consuming litigation. It is better to have a fail-safe contract than spend a great deal of money on lawsuit.

 

Areas of litigation expertise are —

 

  • Corporate litigation
  • Industrial Relations and Labor matters litigation
  • Commercial litigation
  • Tax litigation
  • Intellectual Property
  • Constitutional litigation
  • Banking and Finance litigation
  • Insurance litigation
  • Infringement suits
  • Land/Property matters litigation
  • Securities and Trusts litigation
  • Debt Recoveries
  • Winding up
  • Arbitration and mediation to resolve disputes without trial
  • Litigation under industrial and employment laws.
  • Shareholders’ disputes litigation.
  • Joint Venture Disputes litigation.
  • Technology Transfer contracts.
  • Asset and Business Transfer contracts.
  • Derivative litigation.

 

6) Immigration Laws

 

Immigration law refers to law governing the legal status of people in matters pertaining to citizenship. The firm is engaged in providing legal opinion with respect to Foreign Exchange Management Act, 1999 (FEMA), rules and regulations under FEMA, Inward and Outward remittance to/from India. The firm has its expertise in the following areas:

 

  • Advice on laws relating to foreign investment in India.
  • Advice on laws pertaining to acquisition of property in India by a foreign national.
  • Consultation in obtaining requisite permission from Reserve Bank of India and other national authorities under FEMA.
  • Laws pertaining to establishment in India of branch office, project office, site office or other place of business by a foreign company.

 

7) Banking. Finance and Insurance

 

The firm advices banks, financial institutions and companies in various financing transactions, loans, legal due diligence, project financing and recovery.

In the area of corporate finance, the services encompass rights issues, private placements, corporate restructuring, schemes of arrangement and advice on security regulations which also includes:

 

  • Acting as legal advisors to banks and finance companies in transactions relating to securitization of loans and the subsequent public offering of the securitized portfolio.
  • Drafting of security/ loaning documents in India.
  • Advising and implementing on the creation of security in favor of the banks.
  • Corporate Finance and Security issues.
  • Consortium Lending.
  • Public Offerings.
  • Enforcing security in favour of Bank to recover the outstanding amount.
  • Litigation in Debt recovery tribunal and India Courts.
  • Lease Finance.
  • Project Finance.
  • Insurance claim settlement documentation.
  • Commercial Conveyance.
  • Advising banks on adopting appropriate risk management models.
  • Drafting user agreements, security, loaning, service agreements, privacy policy statements, and allied documents for the clients.

 

8) Taxation

 

The Taxation practice comprises of two areas: indirect Tax and Direct Tax. Direct tax primarily comprise of income tax on individuals and corporate tax on companies. Indirect taxes are primarily levied on transactions relating to goods and services. The firm’s services are as under:

 

  • Indirect Tax

The firm advises clients on excise, customs, service tax, value added tax / central sales tax and goods and service tax.

 

  • Direct Tax

The firm advises clients on income-tax including non-resident taxation and related exchange control issues.

 

9) Environmental laws

 

Environmental protection is a fundamental duty of every Indian citizen under Article 51-A (g) of the Constitution, which states that every Indian citizen should protect and improve the natural environment including forests, lakes, rivers and wildlife and to have compassion for living creatures.

They provide legal services to the clients helping them to comply with the following statutes at the time of establishing a business entity, industry, or commencing a commercial/ business project in India:

 

  • The forest (conservation) act, 1980.
  • Environmental (protection) act, 1986.
  • Air (prevention and control of pollution) act 1981.
  • Water (prevention and control) act 1974.
  • Wildlife protection act, 1972.
  • The biological diversity act, 2002.
  • Hazardous wastes (management and handling) amendment rules, 2003.
  • Ozone depleting substances (regulation and control) rules, 2000.
  • The North India Canal and Drainage Act, 1873.
  • Obstruction in Fairways Act, 1881.
  • The Indian Fisheries Act, 1897.
  • The Indian Ports Act, 1908.
  • The Indian Forest Act, 1927.
  • The Damodar Valley Corporation Act, 1948.
  • The Mines Act, 1952.
  • The River Boards Act, 1956.
  • The Merchant Shipping Act, 1958.

 

10) Merger, Acquisition. Joint venture, and Foreign collaboration

 

In order to cut costs and increase profits and boosting shareholders’ values, when two companies agree to go forward as a single new company rather than remain separately owned and operated, merger takes place.

 

In order to generate cost efficiency through economies of scale, achieve greater market share, greater efficiency, and increased tax efficiency, one company takes over another and clearly established itself as the new owner; the purchase is called an acquisition or take over.

 

In order to extend marketing reach, access needed information and resources, build credibility with a particular target market, and access new markets that would be inaccessible without the strategic partner, two companies may agree to get into a strategic alliance pooling together their goods, services and/or capital to a common commercial enterprise. Such alliance is a joint venture. It can be a corporate or a contractual joint venture.

 

With Reserve Bank of India (RBI) approval and Department of Industrial Development (DID), a business arrangement with financial collaboration (foreign equity participation- where foreign equity alone is involved) and/or technical collaboration (technology transfer involving licensing of technology by the foreign collaborator on due compensation) can be preferred by Indian business entrepreneurs/ business and industrial houses.

 

The firm provides the following services:

 

  • Drafting of agreements relating to mergers and acquisitions (MandA).
  • Drafting of joint venture (JV), and foreign collaboration (FC) agreements.
  • Advise the clients about MandA, JV, and FC agreements/ arrangements.

 

11) Information Technology and Cyber Laws

 

With the advent of information technology, the growth in the legal corporate has taken a drastic change.

 

A need has emerged for assisting the software and IT companies in the modern legal scenario for their proper establishments and functioning.

 

The Firm provides with the legal expertise to companies focusing in modern technology services. The legal expertise includes:

 

  • Software development agreements.
  • Agreements relating to international and domestic venture of companies in information technology.
  • Legal security in e-commerce and e-business transactions.
  • Cyber jurisdiction and Indian scenario.
  • Domain name — its information regarding registration.
  • Handling of domain name disputes related to cyber-squatting, hijacking, concurrent claims, etc.
  • Terms and conditions about the source code and object code in computer software and programmes from the legal point of view.
  • Legal information with reference to computer databases.
  • Cyber Crime disputes.

 

12) Family laws

 

Family law is an area of the law that deals with family-related issues and domestic relations including matrimony matters.

 

The firm provides the following services:

 

  • Marriage registration.
  • Divorce.
  • Other actions affecting the family (e.g., separation; annulment; custody and placement).
  • International custody and placement (including actions filed under the Hague Convention).
  • Adoption.
  • Will, Succession and Inheritance of ancestral property.
  • Resolution of family dispute in respect of division of family’s property.
  • Termination of parental rights.
  • Domestic Abuse/Harassment injunctions.

 

13) Project finance

 

Project finance is the long term financing of infrastructure and industrial projects. A project financing structure usually involves a number of equity investors, known as sponsors, as well as a syndicate of banks or other lending institutions that provide loans to the operation.

 

The firm advices the clients throughout the implementation process of a project, including:

 

  • Establishment of project companies.
  • Structuring the financing.
  • Creation of security.
  • Environmental protection.
  • Engineering procurement and construction contracts.
  • Insurance.
  • Land use rights issues.
  • Preferential tax policies.
  • Foreign exchange controls.
  • Relevant approvals and registrations, and coordination with government authorities.

 

14) Trust Laws

 

A “trust” is an obligation annexed to the ownership of property, and arising out of confidence reposed in and accepted by the owner, or declared and accepted by him, for the benefit of another, or of another and the owner.  The firm has experience of working with the voluntary organization both charitable and non- charitable.

 

The firm has its expertise in the following areas —

 

  • Trust formation including preparing, governing instruments and seeking registration with the Charity Commissioner.
  • Advice on all aspects of trustees and beneficiaries status with particular reference to the Indian Trust Act.
  • Advice on current and potential future developments in trust law and its administration.
  • Property transactions and commercial agreements of trust.

 

15) Entertainment, Media, and Sports Laws

 

In India, the legislature has responded to the concerns of entertainment, media and sports industries, however, judiciary has developed the law.

 

The firm understands the business and effectively counsel and represents the clients to protect their interests and reduce their risk.

 

The services include:

 

  • Sports contract, sponsorship contract negotiation and drafting.
  • Contracts, licenses, agreements with book publishers; purchase agreements, personnel contracts, broadcasting and sponsorship agreements, video game and audio juke box license contracts and agreements.
  • Intellectual Property related to trademark and license infringement litigation, and copyright litigation in sound recordings.

 

16) Private Equity and Venture Capital Investment

 

Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange whereas Venture capital (VC) is financial capital provided to early-stage, high-potential, high risk, growth startup companies. All venture capital is private equity, but not all private equity is venture capital.

 

The areas in which they provide legal advice include:

 

  • Providing onshore and off-shore structuring advice; in relation to the investment from a legal and regulatory perspective.
  • Advising on complex and diverse foreign investment issues, corporate and securities markets laws and issues applicable to investments.
  • Due Diligence of prospective investee companies.
  • Negotiation assistance from term sheet stage till closing.
  • Documentation and overall transactional support, including working closely with regulators like the Reserve Bank of India (RBI), the Foreign Investment Promotion Board of India (FIPB) and the Securities and Exchange Board of India (SEBI).
  • Advising on exit strategies and implementation thereof.
  • Structuring incentives and sharing of the ‘carry’ for fund managers and research analysts.

 

17) Electricity Laws

 

Sanction from the Ministry of Power (MOP) is a mandatory requirement for taking up any new project in India by an industrial house. The firm provides legal advice to its clients in following laws related to electricity:

  • The Electricity Act, 2003
  • The Indian Electricity Act, 1910
  • The Electricity Regulatory Commissions Act, 1998
  • The Electricity (Supply) Act, 1948.

 

18) Capital Markets and Securities Laws

 

A capital market is a market for securities, where companies and governments can raise long-term funds. The capital market includes the stock market (equity securities) and the bond market (debt). The Firm provides Capital Markets and Securities Laws advice to its clients with regard to:

 

  • Initial Public Offering (IPO).
  • Rights issues.
  • Private placements in both bond and equity markets.
  • Advisory services to listed companies and market intermediaries in the areas of statutory and regulatory compliances, including signing off on day- to-day compliance obligations, assisting with registrations for operating in the Indian market with the Securities and Exchange Board of India (SEBI), for various types of intermediaries ranging across Mutual funds, Venture Capital funds, Asset Management companies, Stock Brokers and Underwriters.

 

19) Competition Laws

 

In India, the Competition Act 2002 was enacted and was amended from time to time. Any business enterprise should prevent practices having adverse effect on competition, to promote and sustain competition in markets, to protect the interests of consumers and to ensure freedom of trade carried on by other participants in markets, in India.

 

The firm advises clients on competition law regulatory and compliance issues including:

  • Legal advice on Indian and International Competition law.
  • Reviewing potentially anti-competitive agreements.
  • Dominance and practices.

 

Competition audit of business practices and arrangements.

 

ADVISORY BOARD

 

Sohan Jam is a law graduate from Indian Law Society, University of Pune. Sohan is practicing law since 1972 in Supreme Court, various High Courts and District Courts of Pune. He has congregated infinite experience and expertise in civil, commercial and criminal litigation. He has gathered invaluable experience and expertise in international and domestic arbitration, company documentation and real estate conveyancing. He has been an arbitrator in resolving many disputes through amicable settlement. He has been an Ex Vice-Chairman of the Bar Council of Maharashtra and Goa in the year 1990-91. He was a Member of Bar Council of Maharashtra and Goa for two terms. Apart from his devotion in legal fraternity, he is presently the President of Khadki Education Society, Pune since 1979. He has been Chairman of Governing Council of T. J. College of Commerce, Pune. He has also been Member of Senate, Pune University. Sohan is the founder of SKJ Legal group.

 

Surekha Kinkar is a law graduate from the University of Pune, India. She has obtained her LL.B degree from Indian Law Society, Pune. She is a practicing advocate since 1979. She has over 28 years of active law practice gathered experience and expertise in the following areas, namely, civil and criminal law, corporate law, foreign collaborations, joint ventures international franchising agreements and real estate conveyancing. She firmly believes in conciliation as a primary object. She has gained vast experience in the resolution of disputes through arbitration. She has undertaken several initiatives on socio-legal activities. She has been a part of teaching activity of Symbiosis Institute of Law and other law colleges of Pune. Surekha plays an advisory role in SKL Legal group.

 

Sunita Kinkar is a law graduate from the University of Pune, India. She has obtained her LL.B. degree from Symbiosis Law College, Pune. She has been practicing for last 15 years in civil litigation on both, original and appellate side in Pune. She has gathered vast experience and expertise in the matters of consumer disputes and departmental enquiries of educational institutions and alike. She has broad exposure in corporate documentation. She looks after all the matters of charity commissioner and other competent authorities of Pune. She has a unique entity within the field of taxation laws and alternative dispute resolution. She also firmly believes in conciliation as a primary object. She has gained vast experience in the resolution of disputes through arbitration. She has attributed it to hard work and believes in consistency but at the same time she is keen in studying the new methods of working and also adopting and operating the the modern lines, equipped as it is with state of the art information technology and communication systems. Sunita plays an advisory role in SKL Legal group.

 

MANAGEMENT TEAM

 

Pankaj Jam is a law graduate from ILS Law College, University of Pune and has pursued Masters in International Economic Law (LL.M) from University of Warwick, United Kingdom. Pankaj specializes in corporate law and intellectual property law. Pankaj has acted as a counsel for 4 years in various joint venture assignments, civil litigation and corporate transactions. Pankaj is a registered trademark attorney.

 

Sabyasachi Ghosh is a law graduate from Law Faculty, University of Delhi. Saby specializes in corporate law and commercial law. Saby was a litigator in High court and tribunals of Delhi for 14 years. Saby has acted as LPO consultant for various US and UK clients for 5 years and also worked in managerial capacities in two major Indian LPOs for 3 years.

 

FIXED ASSETS

 

  • Computer
  • Furniture and Fixture
  • Car (Honda City)
  • Sangamwadi Property

 


CMT REPORT (Corruption, Money Laundering and Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                  None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                          None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                          None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 


 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.49.25

UK Pound

1

Rs.76.75

Euro

1

Rs.65.16

 


 

SCORE and RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

2

--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

 

27

 

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 and 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.