|
Report Date : |
06.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SWINGTEL COMMUNICATIONS PRIVATE LIMITED (w.e.f. 31.10.2010) |
|
|
|
|
Formerly Known
As : |
MALLINATH LEASING AND FINANCE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
15-16, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
22.06.1994 |
|
|
|
|
Com. Reg. No.: |
11-079105 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65923MH1994PTC079105 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Electronic Components. |
|
|
|
|
No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Recently Commenced Business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Though the company was incorporated in the year 1994, the company has
recently commenced its commercial operations from April 2011. Business is
active. Payments are unknown. The company can be considered for business dealings on a secured trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Deepak |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-22000123 |
|
Date : |
03.03.2012 |
LOCATIONS
|
Registered Office : |
15-16, |
|
Tel. No.: |
91-22-22000123 |
|
Fax No.: |
91-22-22000222 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mrs. Sakina Yusuf Manasawala |
|
Designation : |
Director |
|
Address : |
1605, Sagar Classic, |
|
Date of Birth/Age : |
15.03.1954 |
|
Date of Appointment : |
30.10.2006 |
|
DIN No.: |
00991153 |
|
|
|
|
Name : |
Mr. Moiz Yusuf Manasawala |
|
Designation : |
Director |
|
Address : |
1605, Sagar Classic, |
|
Date of Birth/Age : |
19.06.1980 |
|
Date of Appointment : |
30.10.2006 |
|
DIN No.: |
00991126 |
KEY EXECUTIVES
|
Name : |
Mr. Deepak |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
A.N. Ramani and Company |
|
Designation : |
Company Secretaries |
|
Address : |
101, Shubh Jyot CHS, Opposite Shraddha Farsan, |
|
Tele/Fax No.: |
91-22-25342124 |
|
E-Mail: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sakina Yusuf Manasawala |
|
100000 |
|
Moiz Yusuf Manasawala |
|
100000 |
|
Total |
|
200000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Electronic Components. |
|
|
|
|
Imports : |
|
|
Products : |
Electronic Components |
|
Countries : |
v
v
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
v Arrow Electronics India Private Limited |
|||||||||
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|
|
|||||||||
|
Customers : |
Wholesalers and End Users v
Anchor Electricals
Private Limited |
|||||||||
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|
|
|||||||||
|
No. of Employees : |
15 (Approximately) |
|||||||||
|
|
|
|||||||||
|
Bankers : |
v Development Credit
Bank Limited, 601 and 602, Peninsula Business Park, 6th Floor,
Tower A, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra,
India v Allahabad Bank,
635, Mistry Bhavan, Near Metro Cinema, v
Dena Bank |
|||||||||
|
|
|
|||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chowdhary and Company Chartered Accountants |
|
Address : |
Chamber No.1305/A, Panch Ratna, 13th Floor, Opera House,
16, New Queens Road, Mumbai – 400 004, Maharashtra, India |
|
Tel. No.: |
91-22-23690588 |
|
Tele Fax No.: |
91-22-23681411 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAGFC2425F |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 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 |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(0.237) |
(0.123) |
(0.065) |
|
|
NETWORTH |
1.763 |
1.877 |
1.935 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.050 |
0.050 |
0.050 |
|
|
TOTAL BORROWING |
0.050 |
0.050 |
0.050 |
|
|
DEFERRED TAX LIABILITIES |
0.217 |
0.209 |
0.199 |
|
|
|
|
|
|
|
|
TOTAL |
2.030 |
2.136 |
2.184 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.594 |
1.684 |
1.780 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.256 |
0.241 |
0.230 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.071
|
0.059 |
0.056 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.124
|
0.160 |
0.125 |
|
Total
Current Assets |
0.195
|
0.219 |
0.181 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
|
|
Other Current Liabilities & Provisions |
0.015
|
0.008 |
0.007 |
|
Total
Current Liabilities |
0.015
|
0.008 |
0.007 |
|
|
Net Current Assets |
0.180
|
0.211 |
0.174 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2.030 |
2.136 |
2.184 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
ANNUAL SALES |
0.120 |
0.120 |
0.136 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE DEPRECIATION AND INCOME-TAX |
0.000 |
0.048 |
0.049 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER DEPRECIATION AND INCOME-TAX |
(0.114) |
(0.048) |
(0.054) |
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(0.57) |
(0.29) |
(0.31) |
Note: Company has started its business activities from April, 2011.
Expected Sales (2011-2012): Rs.140.000 millions
The above information has been parted by Mr. Deepak (Accounts Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.04
|
0.03 |
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
13.00
|
27.38 |
25.86 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
|
|
|
|
|
|
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 |
Yes |
|
5) Type of
Business |
Yes |
|
6) Line of
Business |
Yes |
|
7) Promoter’s
background |
-- |
|
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 |
-- |
|
12) Profitability
for last three years |
-- |
|
13) Reasons for
variation <> 20% |
-- |
|
14) Estimation
for coming financial year |
Yes |
|
15) Capital in
the business |
Yes |
|
16) Details of
sister concerns |
-- |
|
17) Major
suppliers |
Yes |
|
18) Major customers |
Yes |
|
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 |
-- |
|
25) Conduct of
the banking account |
-- |
|
26) Buyer visit
details |
-- |
|
27) Financials,
if provided |
No |
|
28) Incorporation
details, if applicable |
-- |
|
29) Last accounts
filed at ROC |
-- |
|
30) Major
Shareholders, if available |
-- |
Note:
The registered office of the company has been shifted from 202, Royal Apartment, Bhau Daji Road Extension, Opposite North Indian
Association Sion (West), Mumbai,
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U65923MH1994PTC079105 |
||||||
|
Name of the
company |
SWINGTEL COMMUNICATIONS PRIVATE LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
15-16, E-Mail: moiz@lc-pl.com |
||||||
|
This form is for |
Creation of
charge |
||||||
|
Type of charge |
Book Debts Movable Property
(not being pledge) |
||||||
|
Particular of
charge holder |
CIN No.: L99999MH1995PLC089008 Development Credit Bank Limited, 601 and 602, Peninsula Business Park,
6th Floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai – 400
013, Maharashtra, India E-Mail: vijaykurankar@dcbbank.com |
||||||
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
hypothecation dated 19.01.2012 Nature of Facility :
|
||||||
|
Date of
instrument Creating the charge |
19.01.2012 |
||||||
|
Amount secured by
the charge |
Rs.43.000
millions |
||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Foreign letter of
Credit / Buyers Credit (Tenor 150 days): As per prevailing rates Bill Discounting
Tenor 90 days: 3.25% over Base Rate minimum 13.75% p.a. (Present Base Rate
10.50%). Terms of
Repayment: Foreign letter of
Credit / Buyers Credit (Tenor 150 days) : On Demand / Annual Review Bill Discounting
Tenor 90 days : Invoice date should not be more than 30 days prior to date of
discounting. On Demand / Annual Review / Due Date of Bills Margin: Foreign letter of
Credit / Buyers Credit (Tenor 150 days) : 25% by FDR Bill Discounting
Tenor 90 days : 25% Margin against the Bills Extent and
Operation of the charge: The Charge is
operative and created for Rs.43.000 millions. |
||||||
|
Short particulars
of the property charged |
The whole of the
movable properties of the borrower including its movables, stocks in trade,
finished goods, goods in progress, raw materials, book debts and other
movables, both present and future whether installed or not and now whether
now lying loose or in cases or which are now lying or stored in or about all
the borrowers factories, premises and godowns or wherever else the same may
be or may be held by any party to the order of disposition of the borrower or
in the course of transit or on high seas or on order, or delivery, howsoever
and where so ever in the possession of the Borrower and either by way of
substitution or addition, actionable claims, amounts due and receivable under
any contract or otherwise. |
TRADE REFERENCES:
v
Anchor Electricals
Private Limited
v Arrow Electronics India Private Limited
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.49.80 |
|
|
1 |
Rs.78.79 |
|
Euro |
1 |
Rs.65.74 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--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 |
|
14 |
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.