MIRA
INFORM REPORT
|
Report Date : |
06.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
TOMTOM INDIA PRIVATE LIMITED (w.e.f. 23.01.2012) |
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Formerly Known
As : |
TOMTOM INDIA LIMITED (w.e.f. 28.01.2011) TELE ATLAS KALAYNI INDIA LIMITED (w.e.f. 17.04.2009) KALYANI NET VENTURES LIMITED KALYANI NET VENTURE PRIVATE LIMITED |
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Registered
Office : |
7th Floor, Binarius, Deepak Complex, National |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
15.02.2000 |
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Com. Reg. No.: |
25-014486 |
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Capital
Investment / Paid-up Capital : |
Rs. 33.096 millions |
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CIN No.: [Company Identification
No.] |
U72200PN2000PTC014486 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Provider of Navigation Solutions. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1640000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “TOMTOM ASIA PACIFIC PTE. LIMITED”. It is an established company having a moderate track record. There
appears continuous losses recorded by the company. However, subject gets strong financial support from its holding. There
appears no external borrowing. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. In view strong holdings the company can be considered for business
dealings with slight caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 DECLINED BY
|
Name : |
Mr. Sanjay Agarwal |
|
Designation : |
Finance Head |
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Contact No.: |
91-20-41002000 |
|
Date : |
06.06.2013 |
LOCATIONS
|
Registered Office : |
7th Floor, Binarius, Deepak Complex, National Games Road,
Shastri Nagar, Yerwada, Pune-411006, Maharashtra, India |
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Tel. No.: |
91-20-41002000 |
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Fax No.: |
91- 20-41002145 |
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E-Mail : |
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Website : |
DIRECTORS
As on 28.09.2012
|
Name : |
Arnold Jozef Desmet |
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Designation : |
Director |
|
Address : |
Treetops Apartments, 7 Orange Grove Road, Singapore 258355 |
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Date of Birth/Age : |
04.12.1964 |
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Date of Appointment : |
22.04.2008 |
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DIN No.: |
02154263 |
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Name : |
Eng Ann Khai Lam Yeo |
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Designation : |
Director |
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Address : |
73, Cheviot Hill, Singapore 459656 |
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Date of Birth/Age : |
18.03.1967 |
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Date of Appointment : |
22.04.2008 |
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DIN No.: |
02157901 |
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Name : |
Martinus Marie Antonius Van Gool |
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Designation : |
Director |
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Address : |
4854, EC Bavel, Patrizenlaar 18 ,Netherlands 4854EC |
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Date of Birth/Age : |
29.04.1965 |
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Date of Appointment : |
24.12.2010 |
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DIN No.: |
02891215 |
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Name : |
Mr. Sanjay Omprakash Agrawal |
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Designation : |
Director |
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Address : |
Flat No.1204, Vanaraji Heights, Rambaug Colony, Kothrud, Pune-411038,
Maharashtra, India |
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Date of Birth/Age : |
30.03.1978 |
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Date of Appointment : |
01.04.2012 |
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DIN No.: |
03635842 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Agarwal |
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Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
TomTom Asia Pacific Pte. Limited, Singapore |
|
33096160 |
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TomTom Global Content B.V., Netherlands |
|
05 |
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Total |
|
33096165 |
Allottees as on 06.12.2012
|
Names of Allottees |
|
No. of Shares |
|
TomTom Asia-Pacific Pte. Limited, Singapore |
|
5932333 |
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Total |
|
5932333 |
As on 28.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provider of Navigation Solutions. |
GENERAL INFORMATION
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No. of Employees : |
Information declined by management |
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Bankers : |
The Cosmos Co-Operative Bank Limited Camp Branch, Pune - 411001, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
706, B- Wing, 7th Floor, ICC Trade Tower, International
Convenvention Towersenapati Bapat Road, Pune-411016, Maharashtra, India |
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Tel. No.: |
91-20-66244600 |
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Fax No.: |
91-20-66244605 |
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PAN No.: |
AACFD4815A |
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Holding Company : |
Tom Tom Asia Pacific Pte. Limited (Formerly Tele Atlas Asia Pacific
Pte. Limited) |
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Ultimate Holding Company : |
Tom Tom N.V. |
CAPITAL STRUCTURE
After 28.09.2012
Authorised Capital : Rs. 61.000
millions
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
39028498 |
Equity Shares |
Re.1/- each |
Rs. 39.028 millions |
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As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Re.1/- each |
Rs. 40.000 Millions |
|
100000 |
Preference Shares |
Rs.10/- each |
Rs. 1.000 Million |
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|
|
|
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Total |
|
Rs. 41.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
33096165 |
Equity Shares |
Re.1/- each |
Rs. 33.096 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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|
SHAREHOLDERS FUNDS |
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|
|
|
1] Share Capital |
33.096 |
11.256 |
7.816 |
|
|
2] Share Application Money |
0.000 |
286.788 |
103.229 |
|
|
3] Reserves & Surplus |
377.876 |
0.000 |
98.684 |
|
|
4] (Accumulated Losses) |
0.000 |
(46.165) |
(124.199) |
|
|
NETWORTH |
410.972 |
251.879 |
85.530 |
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|
LOAN FUNDS |
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|
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
71.237 |
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TOTAL BORROWING |
0.000 |
0.000 |
71.237 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
4.570 |
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TOTAL |
410.972 |
251.879 |
161.337 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
287.794 |
164.452 |
125.344 |
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Capital work-in-progress |
17.984 |
0.000 |
14.606 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
4.570 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
12.452
|
0.000 |
2.219 |
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Sundry Debtors |
96.387
|
31.067 |
8.794 |
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|
Cash & Bank Balances |
41.829
|
71.088 |
4.600 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
37.243
|
29.067 |
29.158 |
|
Total
Current Assets |
187.911
|
131.222 |
44.771 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
60.354
|
18.701 |
22.177 |
|
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Other Current Liabilities |
18.687
|
23.092 |
4.773 |
|
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Provisions |
3.676
|
2.002 |
1.004 |
|
Total
Current Liabilities |
82.717
|
43.795 |
27.954 |
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Net Current Assets |
105.194
|
87.427 |
16.817 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
410.972 |
251.879 |
161.337 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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Income |
|
37.814 |
12.213 |
|
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Other Income |
|
7.518 |
1.038 |
|
|
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TOTAL (A) |
252.735 |
45.332 |
13.251 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Costs |
|
55.629 |
37.489 |
|
|
|
Other Expenses |
|
101.573 |
72.820 |
|
|
|
Increase / (Decrease) in service contracts in progress |
|
2.218 |
(1.341) |
|
|
|
Amount Capitalised |
|
(40.505) |
(46.147) |
|
|
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TOTAL (B) |
462.036 |
118.915 |
62.820 |
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PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including
Financial Expenses and Depreciation) |
(73.583) |
(49.569) |
|
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|
|
|
|
|
|
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Less |
FINANCIAL
EXPENSES (D) |
|
11.568 |
3.675 |
|
|
|
|
|
|
|
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|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(85.151) |
(53.244) |
|
|
|
|
|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
35.287 |
27.490 |
|
|
|
|
|
|
|
|
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|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(209.301) |
(120.438) |
(80.734) |
|
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|
|
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|
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Less |
TAX (H) |
0.000 |
0.000 |
0.149 |
|
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|
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|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(209.301) |
(120.438) |
(80.883) |
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(244.637) |
(124.199) |
(43.316) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(453.938) |
(244.637) |
(124.199) |
|
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|
|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
14.861 |
0.000 |
NA |
|
|
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Capital Goods |
40.036 |
0.000 |
NA |
|
|
TOTAL IMPORTS |
54.897 |
0.000 |
NA |
|
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|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(6.32) |
(15.34) |
(10.35) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(82.81)
|
(265.68)
|
(610.39)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(318.50)
|
(661.05)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(44.00)
|
(40.73)
|
(47.46)
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
(0.51)
|
(0.48)
|
(0.94)
|
|
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|
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|
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|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.83 |
|
|
|
|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
2.27
|
3.00 |
1.60 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Trade Payable |
60.354
|
18.701 |
22.177 |
|
|
|
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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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
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 |
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 |
NOTE
The registered office of the company has been shifted from 4th
Floor, Mutha Towers, Off Airport Road, Yerwada, Pune-411006, Maharashtra,
India to the present address w.e.f.
01.12.2011
FIXED ASSETS
v
Tangible Assets
· Improvement to Leasehold Premises
·
Plant
and Equipment
·
Furniture
and Fixtures
·
Vehicles
·
Office
Equipment
v
Intangible Assets
·
Database
·
Website Development Costs
·
Computer Software
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.56.42 |
|
|
1 |
Rs.86.54 |
|
Euro |
1 |
Rs.73.86 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
36 |
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.