MIRA
INFORM REPORT
|
Report Date : |
18.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
CELLCOMM SOLUTIONS LIMITED (w.e.f. 16.02.2005) |
|
|
|
|
Formerly Known
As : |
SUBEX CELLCOMM LIMITED (w.e.f. 14.02.1996) RADEX SPACECOMM LIMITED |
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Registered
Office : |
No. 52/44, 2nd Cross, 8th Main, Ganesh Block,
Mahalaxmi Layout, Bangalore – 560096, Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
04.04.1994 |
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|
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Com. Reg. No.: |
08-015460 |
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|
Capital
Investment / Paid-up Capital : |
Rs.48.819 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32202KA1994PLC015460 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS03690B |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Providing Cellular Phone Accessories and Services. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 900000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record.
There appears some dip in the turnover and profitability of the company. However,
networth of the company is satisfactory, trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered normal for business 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.
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.
LOCATIONS
|
Registered/ Corporate Office : |
No. 52/44, 2nd Cross, 8th Main, Ganesh Block,
Mahalaxmi Layout, Bangalore – 560096, Karnataka, India |
|
Tel. No.: |
91-80-23497581 / 23491895 |
|
Fax No.: |
91-80-23491490 |
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E-Mail : |
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Website : |
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Regional Offices : |
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|
New Delhi Office : |
406, Vishwadeep Building, 4, Janakpuri Dist Centre, New Delhi - 110
058, India |
|
Tel No: |
91-11-25623150/25516515/25536591 |
|
Fax No: |
91-11-25623140 |
|
Email: |
|
|
|
|
|
Kolkata Office : |
204, 2nd Floor, Sagar Trade
Cube, S P Mukherjee Road, Kolkata – 700026, West Bengal, India |
|
Tel No: |
91-33-24740457 |
|
Email: |
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|
Mumbai Office : |
A-202, II Floor,
Floral Deck Plaza, Opposite SEEPZ, Andheri (East), Mumbai - 400093,
Maharashtra, India |
|
Tel No: |
91-22-28320102 |
|
Fax No: |
91-22-28237038 |
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Email: |
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|
Hyderabad Office : |
No.202,
Siddhardha Apartments, Erramanzil Colony, Khaithabad, Hyderbad - 500004,
India |
|
Tel No: |
91-40-23327961 |
|
Email: |
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|
Chennai Office : |
No. 84, LDG
Road, Little Mount, Saidept, Chennai – 15, Tamilnadu, India |
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|
Other Regional
Offices : |
Located at ·
Lucknow ·
Kochi |
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|
|
Overseas Offices : |
·
Hong Kong ·
Middle East ·
Bangladesh |
DIRECTORS
As on 21.09.2012
|
Name : |
Mr. Alex Puthenchira Johnson |
|
Designation : |
Director |
|
Address : |
F-204, Raheja
Gardenia, Millers Road, Opposite Benson Town, Bangalore – 560052, Karnataka,
India |
|
Date of Birth/Age : |
31.05.1965 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No.: |
00502359 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U40100KA2005PLC036884 |
ZEALTEC
ENERGY LIMITED |
Director |
03/08/2005 |
03/08/2005 |
- |
Active |
NO |
|
2 |
U51420KA2006PLC040284 |
MINMET
GLOBAL INFRASTRUCTURE LIMITED |
Director |
25/08/2006 |
25/08/2006 |
- |
Active |
NO |
|
3 |
U27106KA2007PLC042792 |
XINDIA
STEELS LIMITED |
Whole-time
director |
01/10/2012 |
14/05/2007 |
- |
Active |
NO |
|
4 |
U85110KA1996PLC021030 |
HAMPI
INDUSTRRY LIMITED |
Director |
15/09/2008 |
06/09/2007 |
- |
Amalgamated |
NO |
|
5 |
U32202KA1994PLC015460 |
CELLCOMM
SOLUTIONS LIMITED |
Director |
30/09/2008 |
16/11/2007 |
- |
Active |
NO |
|
6 |
U45201KA2009PLC049358 |
XINDIA
CONSTRUCTIONS LIMITED |
Director |
12/03/2009 |
12/03/2009 |
- |
Active |
NO |
|
7 |
U13209KA2010PTC053636 |
BESTO
MINING INDIA PRIVATE LIMITED |
Director |
14/05/2010 |
14/05/2010 |
- |
Active |
NO |
|
8 |
U14200KA2008PLC045891 |
DAKSHIN
MINES AND MINERALS LIMITED |
Additional
director |
17/08/2010 |
17/08/2010 |
31/12/2010 |
Active |
NO |
|
9 |
U27310KA2010PLC055188 |
TUNGABHADRA
BENEFICIATION LIMITED |
Director |
17/09/2010 |
17/09/2010 |
- |
Active |
NO |
|
10 |
U26940KA2010PLC055251 |
XINDIA
INTERNATIONAL CEMENTS LIMITED |
Director |
22/09/2010 |
22/09/2010 |
- |
Active |
NO |
|
11 |
U15492KA2011PTC060584 |
ORIGIN
COFFEE ROASTING PRIVATE LIMITED |
Director |
26/09/2011 |
26/09/2011 |
- |
Active |
NO |
|
12 |
U15490KL2012PTC031281 |
PRASAN
SOLUTIONS (INDIA) PRIVATE LIMITED |
Director |
22/05/2012 |
22/05/2012 |
- |
Active |
NO |
|
Name : |
Mr. Vinod Varijakshan Menon |
|
Designation : |
Director |
|
Address : |
No. 103, Vasawani
Golf Vista Hazel Block, SY, 2/5, Challaghatta VI, Bangalore- 560037,
Karnataka, India |
|
Date of Birth/Age : |
25.10.1970 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No.: |
00524282 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U40100KA2005PLC036884 |
ZEALTEC
ENERGY LIMITED |
Director |
29/12/2006 |
01/11/2005 |
- |
Active |
NO |
|
2 |
U32202KA1994PLC015460 |
CELLCOMM
SOLUTIONS LIMITED |
Director |
30/09/2008 |
01/04/2008 |
- |
Active |
NO |
|
Name : |
Mr. Davis Kavalakatt Anthony |
|
Designation : |
Managing director |
|
Address : |
D-501, Brigade
Regency, 5th Floor, 8th Main Road, Malleswaram (West),
Bangalore – 560055, Karnataka, India |
|
Date of Birth/Age : |
01.06.1959 |
|
Qualification : |
M. Sc., PGMM |
|
Date of Appointment : |
30.09.1995 |
|
DIN No.: |
00501139 |
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|
|
|
Name : |
Mr. Vijayan Karumuthil Melethil |
|
Designation : |
Whole-time director |
|
Address : |
Kambivalappil House, Mundaparamba PO, Malappuram – 676509, Kerala,
India |
|
Date of Birth/Age : |
27.01.1962 |
|
Date of Appointment : |
31.03.2010 |
|
DIN No.: |
02736759 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.09.2012
|
Names of Shareholders |
No. of Shares |
|
Alex P. J |
1439625 |
|
Priya Alex |
4125 |
|
K. A. Davis |
2574938 |
|
Sasi Kumar .G |
17875 |
|
Suresh Kumar Kodallur |
31875 |
|
Simon K. A. |
237188 |
|
Vijayan K. M. |
474375 |
|
Thomas Varughese |
27500 |
|
Linoj K. George |
17500 |
|
Ponnappa K. M. |
15063 |
|
Sunil Vadakk-eveettil Thomas |
9375 |
|
Sagarneel Banerjee |
7500 |
|
Shibu Paul |
7500 |
|
Prakash M. R |
5000 |
|
Anu Krishna Das |
2500 |
|
Santhosh Kumar B |
2500 |
|
Winston Prabhakar |
7500 |
|
Total |
4881939 |
Equity Share Break up (Percentage of Total Equity)
As on 21.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
96.89 |
|
Other top fifty shareholders |
3.11 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Cellular Phone Accessories and Services. |
||||
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|
||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2012
|
Licensed Capacity |
Unit |
NA |
|
Installed Capacity |
Unit |
200000 |
|
Actual Production |
Unit |
44042 |
GENERAL INFORMATION
|
Suppliers : |
·
Anhui - E Com Technology Company Limited ·
Fujian Newland Commincation Science and Tech
Company Limited ·
P. C. Process Private Limited - Bangalore ·
Prayog Systems ·
Reliance Communications Limited - Mumbai (S. Cr.) ·
Sinimax Company Limited - Taiwan ·
Sunnada Communication Limited ·
Synergy Telecom (Private) Limited ·
Ingen Technologies Private Limited ·
Jiangsu Ronglian Technology Company Limited ·
Pantagone Satellite ·
Shenzhen Huaptec Company, Limited ·
Swastik Electronics |
|||||||||
|
|
|
|||||||||
|
Customers : |
·
Accsys Electronics ·
Ace Marketing Private Limited ·
Aircel Limited ·
Alcatel-Lucent Managed Solutions India Private
Limited ·
Autosoft Solutions ·
Bharti Airtel Limited - Bangalore ·
Brookefields Estates Private Limited ·
Canarys Automations Private Limited - Bangalore ·
Centre For Digestive And Kidney Diseases (India)
P Limited ·
Chetas Control Systems Private Limited - Pune ·
Dishnet Wireless Limited ·
Elecon Measurements Private Limited ·
Fluidyne Controls Systems Private Limited ·
Forebes Marshall Private Limited |
|||||||||
|
|
|
|||||||||
|
No. of Employees : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Bankers : |
·
Citibank N.A, 506-507, Level 5, Prestige
Meridian, No.30, M.G. Road, Bangalore – 560001, Karnataka, India ·
ABN Amro Bank N. V., 74, Sakhar Bhavan, 7th
Floor, Nariman Point, Mumbai – 400021, Maharashtra, India |
|||||||||
|
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|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Gnanoba and Bhat Chartered Accountants |
|
Address : |
No. 45, I Floor, Annamalai Arcade, I Cross, Wilson Garden, Hosur Main
Road, Bangalore – 560027, Karnataka, India |
|
PAN.: |
AAAFG5742M |
|
|
|
|
Subsidiaries : |
·
Cellcomm Solutions Dhaka Limited ·
Cellcomm Middle East FZE ·
Cellcomm HK Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4881939 |
Equity Shares |
Rs.10/- each |
Rs.48.819
Millions |
|
|
|
|
|
Note:
Reconciliation of the
no. of shares outstanding
|
Particulars |
No. of Shares
Held |
Rs. In Millions |
|
Equity Shares Rs.10/- each |
|
|
|
Balance as of April 1, 2011 |
4881939 |
48.819 |
|
Changes in equity for the six months ended March 31,2012 |
- |
|
|
Balance as of March 31,2012 |
4881939 |
48.819 |
Details of shares in
the company held by each shareholder holding more than 5 percent shares
specifying the number of shares held;
|
Name of the
Shareholder |
Class of shares |
Number of shares held |
|
Divis Kavalakatt Anthony |
Equity |
2574938 |
|
Alex Puthenchira J |
Equity |
1439625 |
|
Vijavan K M |
Equity |
474375 |
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 |
48.819 |
48.819 |
48.797 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
176.793 |
173.794 |
168.054 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
225.612 |
222.613 |
216.851 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8.875 |
12.002 |
12.092 |
|
|
2] Unsecured Loans |
0.044 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
8.919 |
12.002 |
12.092 |
|
|
DEFERRED TAX LIABILITIES |
2.438 |
3.586 |
3.600 |
|
|
|
|
|
|
|
|
TOTAL |
236.969 |
238.201 |
232.543 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
38.052 |
41.374 |
41.043 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
81.431 |
65.047 |
35.105 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
20.013
|
22.590
|
14.176 |
|
|
Sundry Debtors |
66.307
|
93.972
|
84.632 |
|
|
Cash & Bank Balances |
27.176
|
15.453
|
58.743 |
|
|
Other Current Assets |
0.230
|
0.000
|
0.000 |
|
|
Loans & Advances |
65.326
|
146.645
|
139.502 |
|
Total
Current Assets |
179.052
|
278.660
|
297.053 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
21.983
|
9.521
|
9.519 |
|
|
Other Current Liabilities |
6.235
|
23.712
|
21.732 |
|
|
Provisions |
33.348
|
113.647
|
109.407 |
|
Total
Current Liabilities |
61.566
|
146.880
|
140.658 |
|
|
Net Current Assets |
117.486
|
131.780
|
156.395 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
236.969 |
238.201 |
232.543 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
174.551 |
223.618 |
295.068 |
|
|
|
Other Income |
6.302 |
9.836 |
7.698 |
|
|
|
TOTAL |
180.853 |
233.454 |
302.766 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
92.432 |
124.441 |
|
|
|
|
Increase/ (Decrease) in Inventory |
0.344 |
(3.389) |
|
|
|
|
Other Manufacturing Expenses |
3.582 |
5.997 |
|
|
|
|
Employee benefits Expenses |
46.227 |
48.960 |
|
|
|
|
Other Expenses |
30.130 |
33.883 |
|
|
|
|
Prior Period Items |
0.406 |
0.139 |
|
|
|
|
Exceptional Items |
0.790 |
1.182 |
|
|
|
|
TOTAL |
173.911 |
211.213 |
220.737 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6.942 |
22.241 |
82.029 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.307 |
2.246 |
1.882 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.635 |
19.995 |
80.147 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.943 |
4.436 |
3.123 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.692 |
15.559 |
77.024 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(1.307) |
4.234 |
27.660 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.999 |
11.325 |
49.364 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
147.067 |
141.416 |
122.123 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
4.936 |
|
|
|
Interim Dividend |
0.000 |
0.000 |
21.484 |
|
|
|
Proposed Dividend |
00.00 |
4.882 |
0.000 |
|
|
|
Tax on Proposed/ Interim Dividend |
0.000 |
0.792 |
3.651 |
|
|
|
Issue of Bonus Shares |
0.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
150.066 |
147.067 |
141.416 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
C.I.F Value of Imports |
79.227 |
134.638 |
74.231 |
|
|
TOTAL IMPORTS |
79.227 |
134.638 |
74.231 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.61 |
2.32 |
10.11 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.66
|
4.85
|
16.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.97
|
6.96
|
26.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.78
|
4.86
|
22.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.07
|
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.31
|
54.57
|
0.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.91
|
1.89
|
2.11 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF
UNSECURED LOANS:
(Rs.
In Millions)
|
Particulars
|
31.03.2012 |
31.03.2011 |
|
Loans
and advances from related parties |
|
|
|
Cellcomm Middle East |
0.000 |
|
|
Branch at Chennai |
0.044 |
|
|
Total
|
0.044 |
0.000 |
|
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
OVERVIEW ON
OPERATIONAL PERFORMANCE:
Cellcomm secured new orders during the financial year 2011 -12. This gives the Management confidence in exploring the avenues in both domestic and international operations in spite of the general slowdown in their spectrum of business. Apart from the existing customer businesses, the Company is concluding business deals with some of the special projects with regard to air ports.
The fiscal year under reporting was not a pleasant year of operations. Economic regulations followed by the statutory changes reserved the freedom of operations in the telecom sector. These are the factors which caused the decline of turnover and the profits of their group. The management team has done every effort to keep the cost of operations at the same level (as compared to previous year 2010-11), regardless of the reduction in turnover by 22.53%. All the potential revenue streams are explored by the management, in order to generate more revenue keeping the cost at the minimum level.
BUSINESS
STRATEGIES AND FUTURE PROSPECTS/OUTLOOK
The exponential growth witnessed by telecom sector in the past decade
has led to the development of telecom manufacturing and supporting industries.
Indian government is planning to develop their country as a manufacturing hub of
telecom equipment with indigenous technologies. The Draft telecom policy
announced in 2011 proposes to develop indigenous technologies in order to meet
the global demand in the near future.
Management of Cellcomm has decided to spread the wings of their spectrum
to international destinations and on special projects. With their experienced
and qualified team, they expect an exceptional growth in this area during the
years to follow.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U32202KA1994PLC015460 |
|
Name of the company |
CELLCOMM SOLUTIONS LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
No. 52/44, 2nd Cross, 8th Main, Ganesh Block, Mahalaxmi Layout, Bangalore – 560096, Karnataka, India E-mail id : cellcomm@cellcommsolutions.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10218267 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Others (Stocks, Plant and Machinery |
|
Particular of charge holder |
Citibank N.A, 506-507, Level 5, Prestige Meridian, # 30, M G Road, Bangalore – 560001, Karnataka, India E-mail Id : pintu.das@citi.com |
|
Nature of instrument creating charge |
Memorandum of Entry |
|
Date of instrument Creating the charge |
12.01.2011 |
|
Amount secured by the charge |
Rs.100.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As agreed to from time to time Terms of Repayment Repayable on Demand Fund based facility : Rs.30.000 Millions Non-Fund based facility : Rs.70.000 Millions Margin As agreed to from time to time Extent and Operation of the charge First charge on moveable, non-moveable assets (including plant and machinery, stocks and book debts) forming part of current assets both present and future and immovable property. Others |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
The whole of borrower's plant and machinery and present and future stocks of raw materials, semi-finished goods and all finished goods together with stores, components and spares at their premises in India Present and future book debts, outstanding monies, receivables, claims, bills, investments, rights to or on moveable properties and moveable assets forming part of current assets |
|
Particulars of the present modification |
Additional security provided by Equitable Mortgage by deposit of title deeds of immovable property at: a. A-202, II Floor, Floral Deck Plaza, Opp. Seepz, MIDC, Andheri(East), Mumbai - 400093. b. No. 406, 4th Floor, Vishwadeep Building, Janakpuri District Centre, New Delhi c. No. 204, II Floor, Sagar Trade Cube, 104, SP Mukherjee Road, Kolkata - 700026 |
FIXED ASSETS
·
Building
·
Temporary Partition
·
Vehicles
·
Computer
·
Office Equipment
·
Furniture and Fixtures
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.54.64 |
|
|
1 |
Rs.87.46 |
|
Euro |
1 |
Rs.72.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.