|
Report Date : |
30.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
HOYSALA TECHNOLOGIES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
#10, Ground Floor, Vikasnagar, Next Shell Petrol Bunk, 8th Mile,
Tumkur Road, Nagasandra Post, Bangalore – 560073, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
14.12.2011 |
|
|
|
|
Com. Reg. No.: |
061642 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999KA2011PTC061642 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Elevator Components and Sheet Metal. |
|
|
|
|
No. of Employees
: |
30 (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 400 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is relatively new company having a moderate track record. Even though the company was incorporated in 2011 it started its
activity from April 2012. Mr. Prabhakar the CEO has confirmed the sales turnover for 2012-13
which is not verified. In its first year of business operation company has achieved sizeable
turnover. Trade relations are reported to be fair. Business is active. Payments
are unknown. The company can be considered for business dealings with caution. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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. Prabhakar |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9591990549 |
|
Date : |
25.07.2013 |
LOCATIONS
|
Registered Office/ Factory: |
#10, Ground Floor, Vikasnagar, Next Shell Petrol Bunk, 8th
Mile, Tumkur Road, Nagasandra Post, Bangalore – 560073, Karnataka, India |
|
Tel. No.: |
91-80-32211565/ 32211569 |
|
Mobile No.: |
91-9591990549 (Mr. Prabhakar) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
(AS ON 17.09.2012)
|
Name : |
Mr. Shankaranahally Rajegowda Nandeesh |
|
Designation : |
Director |
|
Address : |
D. No. 470, B. M. Shree Road, Vidya Nagar, Hassan – 573201, Karnataka,
India |
|
Date of Birth/Age : |
15.12.1955 |
|
Date of Appointment : |
15.12.2011 |
|
DIN No.: |
05121596 |
|
|
|
|
Name : |
Mr. Raje Gowda |
|
Designation : |
Director |
|
Address : |
412, Vidya Nagar, Hassan – 573201, Karnataka, India |
|
Date of Birth/Age : |
09.10.1984 |
|
Date of Appointment : |
15.12.2011 |
|
DIN No.: |
05121605 |
|
|
|
|
Name : |
Mr. Prabhakara Karigowda |
|
Designation : |
Additional Director |
|
Address : |
364, Good Earth, GF 11A Cross 29th Main, J P Nagar, I
Phase, Bangalore – 560078, Karnataka, India |
|
Date of Birth/Age : |
03.05.1984 |
|
Date of Appointment : |
01.03.2013 |
|
DIN No.: |
06386127 |
KEY EXECUTIVES
|
Name : |
Mr. Prabhakar |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 17.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Shankaranahally Rajegowda Nandeesh |
|
7000 |
|
Raje Gowda |
|
3000 |
|
|
|
|
|
Total |
|
10000 |
(AS ON 02.02.2013)
|
Names of Allottees |
|
No. of Shares
Allotted |
|
|
|
|
|
Shankaranahally Rajegowda Nandeesh |
|
18500 |
|
Raje Gowda |
|
11500 |
|
Prabhakara K. |
|
10000 |
|
|
|
|
|
Total |
|
40000 |
(AS ON 27.05.2013)
|
Names of Allottees |
|
No. of Shares
Allotted |
|
|
|
|
|
Shankaranahally Rajegowda Nandeesh |
|
1614000 |
|
Raje Gowda |
|
1076000 |
|
|
|
|
|
Total |
|
2690000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Elevator Components and Sheet Metal. |
|
|
|
|
Imports : |
|
|
Products : |
Finished Good |
|
Countries : |
Israel |
|
|
|
|
Terms : |
|
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Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit/ Depend |
\GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
30 (Approximately) |
|
|
|
|
Bankers : |
· State Bank of Hyderabad Peenya, 1st Floor, 108-E, Peenya IIIrd Phase, Peenya
Industrial Area, Bangalore – 560058, Karnataka, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Devika and Associates Chartered Accountants |
|
Address : |
# 74, Sai Ram Layout, 1st Main, 3rd B Cross, T C
Palya, K R Puram, Bangalore – 560036, Karnataka, India |
|
Mobile No.: |
91-9038745501/ 9535002288 |
|
PAN No.: |
AZIPD0480C |
|
|
|
|
Associates/Subsidiaries : |
TGS Vertical Transportation (Private) Limited |
CAPITAL STRUCTURE
(AS ON 17.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2740000 |
Equity Shares |
Rs.10/- each |
Rs.27.400 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2740000 |
Equity Shares |
Rs.10/- each |
Rs.27.400 Millions |
|
|
|
|
|
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
16.000 |
Note: Company started
its activity from 1st April 2012.
The above information has been parted by Mr. Prabhakar.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
0.100 |
|
(b) Reserves & Surplus |
|
|
0.000 |
|
(c) Money received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1)+(2) |
|
|
0.100 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c)
Other long term liabilities |
|
|
0.000 |
|
(d)
long-term provisions |
|
|
0.000 |
|
Total
Non-current Liabilities (3) |
|
|
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
|
0.000 |
|
(b)
Trade payables |
|
|
0.000 |
|
(c)
Other current liabilities |
|
|
1.536 |
|
(d)
Short-term provisions |
|
|
0.745 |
|
Total
Current Liabilities (4) |
|
|
2.281 |
|
|
|
|
|
|
TOTAL |
|
|
2.381 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
|
0.000 |
|
(ii)
Intangible Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
0.000 |
|
(iv) Intangible assets under development |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
0.000 |
|
(c) Deferred tax assets
(net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
1.515 |
|
(e)
Other Non-current assets |
|
|
0.000 |
|
Total
Non-Current Assets |
|
|
1.515 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
0.000 |
|
(c)
Trade receivables |
|
|
0.000 |
|
(d)
Cash and cash equivalents |
|
|
0.708 |
|
(e)
Short-term loans and advances |
|
|
0.000 |
|
(f)
Other current assets |
|
|
0.159 |
|
Total
Current Assets |
|
|
0.867 |
|
|
|
|
|
|
TOTAL |
|
|
2.382 |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
0.38 |
LOCAL AGENCY FURTHER INFORMATION
|
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 years |
Yes |
|
12] |
Profitability for last three years |
No |
|
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 |
No |
|
18] |
Major customers |
No |
|
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 |
No |
|
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 |
FINANCIAL RESULTS
As the company is in initial stage there was
no revenue generator during the year.
REVIEW OF OPERATIONS
The company was able to make considerable growth
during the year. The directors are confident that the company would record
considerable growth during this year.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/ Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10435150 |
06/06/2013 |
36,600,000.00 |
STATE BANK OF
HYDERABAD |
PEENYA, 1ST
FLOOR, 108-E, PEENYA IIIRD PHASE, PEENYA INDUSTRIAL AREA, BANGALORE,
KARNATAKA - 560058, INDIA |
B78889912 |
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.58.91 |
|
|
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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 & 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.