MIRA INFORM REPORT

 

 

Report Date :

24.06.2013

 

IDENTIFICATION DETAILS

 

Name :

CHABRIA INFOTECH PRIVATE LIMITED

 

 

Registered Office :

209, A.J.C. Bose Road, 2nd Floor, Room No.88, P S Beniapukur, Kolkata – 700017, West Bengal

 

 

Country :

India

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

25.02.1997

 

 

Com. Reg. No.:

21-083056

 

 

Capital Investment/ Paid-up Capital:

Rs.4.500 Millions

 

 

CIN No.:

[Company Identification No.]

U72200WB1997PTC083056

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CALC03131C

 

 

PAN No.:

[Permanent Account No.]

AABCC0448C

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Providing IT Services.

 

 

No. of Employees:

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 75300

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having a satisfactory track record. The profitability appears to be low. However, 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 dealings 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 – March 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

India

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.

 

 

LOCATIONS

 

Registered Office :

209, A.J.C. Bose Road, 2nd Floor, Room No.88, P S Beniapukur, Kolkata – 700017, West Bengal, India

Tel. No.:

91-33-22803375/ 22803376/ 22802304

Fax No.:

91-33-22810883

E-Mail :

sales@chabria.com

 

 

DIRECTORS

 

AS ON 30.09.2012

 

Name :

Mrs. Deepa Chabria

Designation :

Director

Address :

34/1Y, Ballygunge, Circular Road, Kolkata – 700019, West Bengal, India

Date of Birth/Age :

08.02.1970

Date of Appointment :

25.02.1997

Election Commission Identity Card No.:

146156220

Din No.:

00691141

 

 

Name :

Mr. Hemant Chabria

Designation :

Director

Address :

34/1Y, Ballygunge, Circular Road, Kolkata – 700019, West Bengal, India

Date of Birth/Age :

01.03.1970

Date of Appointment :

25.02.1997

Election Commission Identity Card No.:

146156219

Din No.:

00691176

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2012

 

Names of Shareholders

 

No. of Shares

Hemant Chabria

 

35980

Deepa Chabria

 

9020

 

 

 

TOTAL

 

45000

 

AS ON 30.09.2012

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Providing IT Services.

 

 

GENERAL INFORMATION

 

Customers :

·         Ministry of Communication and Information Technology

·         Bhushan Limited

·         C.E.S.C. Limited

·         National Bank for Agriculture and Rural Development

·         Tata Teleservices Limited

·         Techno Electric and Engineering Company Limited

·         Allahabad Bank

·         Apeejay School

·         Ambuja Cement Eastern Limited

·         Bengal Ambuja Housing Development Limited

·         Lodha and Company

·         Tata International Limited

·         TCG Software Services Private Limited

·         Tezpore Tea Company Limited

 

 

No. of Employees :

Not Available

 

 

Bankers :

·         Standard Chartered Bank, Branch N.S. Road, Kolkata – 700001, west Bengal, India

·         Axis Bank Limited, Knkurgachi Branch, P.35, C.I.T. Scheme VII (H), Manicktala, Main Road, Kolkata – 700008, West Bengal, India

·         Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India

·         Punjab National Bank

 

 

Facilities :

Secured Loan

As on 31.03.2012

[Rs. in Millions]

As on 31.03.2011

[Rs. in Millions]

Short Term Borrowings

 

 

Loans Repayable on Demand

 

 

From Banks

 

 

Cash Credit

[Loans guaranteed by the directors balance in cash credit account with Yes Bank Limited, Camac Street Branch, Kolkata]

A/C NO. 001784100001900

[Secured by hypothecation of stock, book debts and exclusive charge on the entire current assets and equitable mortgage of land and building of one of the directors and other land and building of the company are being secured as collateral]

28.975

30.483

Term Loans

[Loans guaranteed by the directors Yes Bank Limited]

A/C No. 017LA17102090002

[Secured by hypothecation of stock, book debts and exclusive charge on the entire current assets and equitable mortgage of land and building of one of the directors and other land and building of the company are being secured as collateral]

1.662

0.000

Other Loans and Advances

Short Term Advances From Customers

2.158

1.380

TOTAL

32.795

31.863

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Kushal Kumar Mondal and Company

Chartered Accountants

Address :

P.O. Kanyanagar, 2nd Floor, D.H. Road, opposite B.P. Petrol Pump, Amtala, South 24 PGS – 743398, West Bengal, India

Tel. No.:

91-33-24709870

PAN No:

AGLPM7397K

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2012

 

Authorised Capital :

No. of Shares

Type

Value

Amount

50000

Equity Shares

Rs.100/- each

Rs.5.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

45000

Equity Shares

Rs.100/- each

Rs.4.500 Millions

 


 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2012

31.03.2011

I.        EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

4.500

4.500

(b) Reserves & Surplus

 

14.338

12.653

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

Total Shareholders’ Funds (1) + (2)

 

18.838

17.153

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

1.378

4.681

(b) Deferred tax liabilities (Net)

 

0.120

0.120

(c) Other long term liabilities

 

0.000

0.000

(d) long-term provisions

 

0.000

0.000

Total Non-current Liabilities (3)

 

1.498

4.801

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

32.795

31.863

(b) Trade payables

 

47.511

50.602

(c) Other current liabilities

 

3.239

2.297

(d) Short-term provisions

 

(7.238)

(5.259)

Total Current Liabilities (4)

 

76.307

79.503

 

 

 

 

TOTAL

 

96.643

101.457

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

10.571

11.600

(ii) Intangible Assets

 

0.142

0.236

(iii) Capital work-in-progress

 

0.000

0.000

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

0.000

0.000

(c) Deferred tax assets (net)

 

0.000

0.000

(d) Long-term Loan and Advances

 

0.000

0.000

(e) Other Non-current assets

 

0.880

1.233

Total Non-Current Assets

 

11.593

13.069

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Inventories

 

12.551

14.835

(c) Trade receivables

 

61.016

64.461

(d) Cash and cash equivalents

 

3.684

2.320

(e) Short-term loans and advances

 

7.799

6.772

(f) Other current assets

 

0.000

0.000

Total Current Assets

 

85.050

88.388

 

 

 

 

TOTAL

 

96.643

101.457

 

 

SOURCES OF FUNDS

 

 

 

31.03.2010

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

 

4.500

2] Share Application Money

 

 

0.000

3] Reserves & Surplus

 

 

11.137

4] (Accumulated Losses)

 

 

0.000

NETWORTH

 

 

15.637

LOAN FUNDS

 

 

 

1] Secured Loans

 

 

29.940

2] Unsecured Loans

 

 

0.000

TOTAL BORROWING

 

 

29.940

DEFERRED TAX LIABILITIES

 

 

0.119

 

 

 

 

TOTAL

 

 

45.696

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

 

13.067

Capital work-in-progress

 

 

0.000

 

 

 

 

INVESTMENT

 

 

0.000

DEFERREX TAX ASSETS

 

 

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

 

 

13.629

 

Sundry Debtors

 

 

38.963

 

Cash & Bank Balances

 

 

7.665

 

Other Current Assets

 

 

0.000

 

Loans & Advances

 

 

9.578

Total Current Assets

 

 

69.835

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors

 

 

27.091

 

Other Current Liabilities

 

 

7.218

 

Provisions

 

 

2.897

Total Current Liabilities

 

 

37.206

Net Current Assets

 

 

32.629

 

 

 

 

MISCELLANEOUS EXPENSES

 

 

0.000

 

 

 

 

TOTAL

 

 

45.696

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2012

31.03.2011

31.03.2010

 

SALES

 

 

 

 

 

Income

295.810

238.178

191.289

 

 

Other Income

NA

NA

NA

 

 

TOTAL                        

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX

2.405

2.185

2.040

 

 

 

 

 

Less

TAX                                                     

0.720

0.669

0.660

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX

1.685

1.516

1.380

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

12.592

11.076

9.696

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

14.277

12.592

11.076

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

1.459

0.249

0.466

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

37.44

33.69

30.66

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2012

31.03.2011

31.03.2010

Net Profit Margin

(PBT/Sales)

(%)

0.81

0.92

1.07

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.49

2.15

2.46

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.13

0.13

0.13

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.81

2.13

1.91

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.11

1.11

1.87

 

 

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

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

No

17]

Major suppliers

No

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]

PAN of Proprietor/Partner/Director, if available

No

32]

Date of Birth of Proprietor/Partner/Director, if available

Yes

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

No

 

 

BANKERS CHARGES REPORT AS PER REGISTRY

 

This form is for

Modification of charge

Charge identification number of the modified 

10238310

Corporate identity number of the company

U72200WB1997PTC083056

Name of the company

CHABRIA INFOTECH PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

209, A.J.C. Bose Road, 2nd Floor, Room No.88, P S Beniapukur, Kolkata – 700017, West Bengal, India

Type of charge

Book Debts

Movable Property [not being pledge]

Floating Charge

Others

Particular of charge holder

Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India

Email: dlbbcadkol@yesbank.in

Nature of description of the instrument creating or modifying the charge

Supplemental Deed of hypothecation dated 04/03/2013.

Date of instrument Creating the charge

04.03.2013

Amount secured by the charge

Rs.37.100 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest

CC-3%+YBLBR,CYBBR-10.50%,ROI-13.50%

WCDL(sub limit of CC)-2.50%+YBLBR,CYBBR-10.50%,ROI-13.00%

BG (P/F) (sub limit of CC)-1.25% P.A.

TL-3.50%+YBLBR,CYBBR-10.50%,ROI-14.00%

BG-1.25% P.A.

 

Terms of Repayment

CC- Repayable on Demand

WCDL(sub limit of CC)-90 Days

BG(P/F)(sub limit of CC)-36 Months

TL-42 Months

BG-36 Months

 

Margin

CC-25% on Book Debts(less than 90 Days old) plus stock minus Creditors.

WCDL (sub limit of CC)-25% on Book Debts(less than 90 Days old) plus stock minus Creditors.

BG (P/F) (sub limit of CC)-15% of the bank guarantee amount in the form of fixed deposits under the lien of YBL.

TL-NIL

BG-20% in the form of fixed Deposits to be kept under lien of YBL.

 

Extent and Operation of the charge

Exclusive Charge on the Current Assets and Movable fixed Assets of the Borrower (Both Present and Future).

Short particulars of the property charged

Exclusive Charge on the Current Assets and Movable fixed Assets of the Borrower(Both Present and Future)

Date of latest modification prior to the present modification

10.08.2011

Particulars of the present modification 

1. Cash Credit facility of Rs. 27.500 Millions has been converted into Main limit.

2. WCDL facility of Rs. 27.500 Millions has been converted into sub Limit of CC.

3. Bank Guarantee (P/F) of Rs. 2.500 Millions has been converted into sub Limit of CC.

4. Term Loan of RS. 4600000 remains the same.

5. Additional Bank Guarantee of Rs. 5.000 Millions has been provided.

 

FIXED ASSETS:

 

·         Land and Building

·         Computer Machinery

·         Printer

·         Television

·         Scanner

·         Pager

·         Computer Software

·         Motor Bike

·         Office Equipments

·         Furniture

·         Cell Phone

·         Fax Machine

·         Generator

·         Air Conditioner

 

 

 

 


CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.59.35

UK Pound

1

Rs.92.11

Euro

1

Rs.78.59

 

 

INFORMATION DETAILS

 

Report Prepared by :

TPT


 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

4

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

42

 

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

-

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.