|
Report Date : |
18.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
REALTIME IT CONCEPTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
14/ 390 E, Laxmi Building, Opposite Swastik Cinema, Lamington Road, Lamington Road, Mumbai – 400004, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
11.03.2011 |
|
|
|
|
Com. Reg. No.: |
11-214639 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.15.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2011PTC214639 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR28273A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCR2102Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Dealer and Distributor of Computer Peripherals. |
|
|
|
|
No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 71000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new company having a moderate track record. It has achieved a sizeable turnover in its first year of operation
[2012]. However, there appear huge external borrowings recorded by the
company. Trade relations are reported as fair. Business is active. Payment
terms are slow but correct. The company can be considered for business dealings with some caution.
Note: Profit and Loss
Account of the company 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 PARTED BY
|
Name : |
Mr. Uday |
|
Designation : |
Sales Manager |
|
Contact No.: |
91-22-40932900 |
|
Date : |
12.02.2013 |
LOCATIONS
|
Registered Office : |
14/ 390 E, Laxmi Building, Opposite Swastik Cinema, Lamington Road, Lamington Road, Mumbai – 400004, Maharashtra, India |
|
Tel. No.: |
91-22-4093290 (100 Lines) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Retail Shop : |
Shop No 5, Grand Galleria, High Street Phoenix, Lower Parel, Mumbai - 400013, Maharashtra, India |
|
Tel. No.: |
91-22-40042900 |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Hitasha A. Kukreja |
|
Designation : |
Director |
|
Address : |
505, Raheja Acropolis, Athena Building, Deonar Pada Road, Govandi, Mumbai – 400088, Maharashtra, India |
|
Date of Birth : |
24.01.1972 |
|
Date of Appointment : |
11.03.2011 |
|
DIN No.: |
03416893 |
|
|
|
|
Name : |
Mr. Ashwin K. Kukreja |
|
Designation : |
Director |
|
Address : |
505, Athena Building, Raheja Acropolis, Near Telecom Factory, Deonar Pada Road, Chembur Mumbai – 400088, Maharashtra, India |
|
Date of Birth : |
10.03.1972 |
|
Date of Appointment : |
11.03.2011 |
|
DIN No.: |
03409441 |
KEY EXECUTIVES
|
Name : |
Mr. Uday |
|
Designation : |
Sales Manager |
MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ashwin K. Kukreja |
|
1000000 |
|
Hitasha A. Kukreja |
|
500000 |
|
Total |
|
1500000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer and Distributor of Computer Peripherals. |
GENERAL INFORMATION
|
Customers : |
End Users |
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|
||||||||||||||||||||||||
|
No. of Employees : |
35 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
Development Credit Bank Limited, 601 and 602, Peninsula Business Park, 6th Floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
Cash Credit Rs.3.000 Millions (From
Development Credit Bank Limited) (Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sunil Adavade and Company Chartered Accountants |
|
Address : |
108-109, Sai Deep Commercial Premises Cooperative Society Limited, 1st Flr Ng Acharya Marg Opposite Vaishali Hotel Chembur, Mumbai – 400071, Maharashtra, India |
|
Tel. No.: |
91-22-66981231 |
|
Mobile No.: |
91-9920961304 |
|
E-Mail : |
|
|
PAN.: |
ACOPA3529L |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000
Millions |
|
|
|
|
|
Reconciliation of the
number of shares and amount outstanding at the beginning and at the end of the
reporting period:
(Rs. In Millions)
|
Particulars |
As at 31 March, 2012 |
|
|
Number of shares |
Amount ( Rs.) |
|
|
Equity Shares at the beginning of the year |
1,500,000 |
15.000 |
|
Add: Shares issued during the year |
-- |
-- |
|
Less: Shares cancelled /Forfeited during the year |
-- |
-- |
|
Equity Shares at
the end of the Year |
1,500,000 |
15.000 |
Details of shares
held by each shareholder:
(Rs. In Millions)
|
Particulars |
As at 31 March, 2012 |
|
|
|
Number of shares |
Amt ( Rs.) |
|
Mr. Ashwin Kukreja |
1,000,000 |
10.000 |
|
Mrs. Hitasha Kukreja |
500,000 |
5.000 |
|
Total |
1,500,000 |
15.000 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
15.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2.751 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
17.751 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
68.238 |
|
|
2] Unsecured Loans |
|
|
5.210 |
|
|
TOTAL BORROWING |
|
|
73.448 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.193 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
91.392 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2.857 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
34.929 |
|
|
Sundry Debtors |
|
|
49.135 |
|
|
Cash & Bank Balances |
|
|
5.833 |
|
|
Other Current Assets |
|
|
1.625 |
|
|
Loans & Advances |
|
|
6.292 |
|
Total
Current Assets |
|
|
97.814 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
4.786 |
|
|
Other Current Liabilities |
|
|
3.455 |
|
|
Provisions |
|
|
1.038 |
|
Total
Current Liabilities |
|
|
9.279 |
|
|
Net Current Assets |
|
|
88.535 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
91.392 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
260.000 |
|
|
|
|
|
Expected Sales (2012-13) : Rs.360.000 Millions
The above information has been parted by Mr. Uday.
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
4.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
10.54 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS:
(Rs In
Millions)
|
Particulars |
As at 31 March, 2012 Amt (Rs.) |
|
Trade payables: |
|
|
Acceptances |
- |
|
Other than Acceptances |
4.786 |
|
Total |
4.786 |
|
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 one year |
Yes |
|
12] |
Profitability for last three years |
No |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
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 |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN:
|
Particulars |
|
As
on 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
Loans and advances parties |
|
|
|
Hitasha Kukreja |
|
5.210 |
|
Total |
|
5.210 |
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U72900MH2011PTC214639 |
|
Name of the
company |
REALTIME IT CONCEPTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
14/ 390 E, Laxmi Building, Opposite Swastik Cinema, Lamington Road, Lamington Road, Mumbai – 400004, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
· Book debts · Movable property (not being pledge) |
|
Particular of
charge holder |
Development Credit Bank Limited, 601 and 602, Peninsula Business Park, 6th Floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of Hypothecation dated 30.11.2012 Nature of facility : Adhoc Cash Credit : Rs.3.000 Millions |
|
Date of instrument
Creating the charge |
30.11.2012 |
|
Amount secured by
the charge |
Rs.3.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 14% bank rate + 3.50% Terms of Repayment Om Demand/ 90 days from date of disbursement. Margin 25% on stock and book debts. Extent and
Operation of the charge The charge is created and operative for Rs.3.000 Millions. Others N.A. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The Whole of the moveable properties of the borrower including its moveable plant and machinery, machinery spares, tools and accessories, furniture’s and fixtures, stock in trade, finished goods, goods in progress, raw materials, cranes, vehicles, book debts and other moveable’s, both present and future whether installed or not and 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 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, amount due and receivable under any contract or otherwise. |
FIXED ASSETS:
· Computer and Printer
· Furniture and Fixture
· Motor Vehicles
· Office Equipment
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 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.53.99 |
|
|
1 |
Rs.83.72 |
|
Euro |
1 |
Rs.72.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
30 |
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.