|
Report Date : |
02.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
CORESONANT SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
15-27, Baby’s Educational Complex, Beerap Pagadda, Uppal,
Hyderabad-500039, Andhra Pradesh |
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Country : |
India |
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Date of
Incorporation : |
18.02.2011 |
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Com. Reg. No.: |
01-072671 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.500 Millions |
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CIN No.: [Company Identification
No.] |
U72200AP2011PTC072671 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Proximity Card, Plastic Proximity Card, Security
Proximity Card, RFID Tags Paper Tags etc. |
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|
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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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company having a moderate track record.
The management have fail to file its financial for the year 2011-2012 with
government department. Mr. Shrikant Reddy the Senior Business Developers has confirmed that
the company has achieved sizeable turnover during 2012-2013 which is not
verified. However, trade relations are reported to be fair. Business is active.
Payments are unknown. The company can be considered for business dealings with great
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 – 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 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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. Shrikant Reddy |
|
Designation : |
Senior Business Developers |
|
Contact No.: |
91-9010511411 |
|
Date : |
26.04.2013 |
LOCATIONS
|
Registered Office : |
15-27, Baby’s Educational Complex, Beerappagadda, Uppal,
Hyderabad-500039, Andhra Pradesh, India
|
|
Tel. No.: |
Not Available |
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Mobile No.: |
91-9010511411 (Mr. Shrikant Reddy) |
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Fax No.: |
Not Available |
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E-Mail : |
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Area : |
1000 Sq. Ft. |
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Location : |
Owned |
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Head Office : |
No.-3, 1st Floor, Mahalakshmi Building, Street No 5, West Marredpally,
Secunderabad-500026, Andhra Pradesh, India |
|
Tel. No.: |
91-40-27803303 |
DIRECTORS
|
Name : |
Mr. Shankara Krishna Sridev Nair |
|
Designation : |
Director |
|
Address : |
15-27, Baby’s Educational Complex, Beerappagadda, Uppal,
Hyderabad-500039, Andhra Pradesh, India
|
|
Date of Birth/Age : |
25.11.1977 |
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Date of Appointment : |
18.02.2011 |
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DIN No.: |
03401649 |
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Name : |
Ms. Lalitha Krishnan Udaysri |
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Designation : |
Director |
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Address : |
Flat No.502, SMR Vinay Residency, Street No.5, Lane 2, West
Marredpally, Secunderabad-500026, Andhra Pradesh, India |
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Date of Birth/Age : |
08.05.1974 |
|
Date of Appointment : |
18.02.2011 |
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DIN No.: |
03409100 |
KEY EXECUTIVES
|
Name : |
Mr. Shrikant Reddy |
|
Designation : |
Senior Business Developers |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 05.02.2011
|
Names of Shareholders |
No. of Shares |
|
Shankara Krishnan Kutty |
7000 |
|
L. K. Udaysri |
3000 |
|
TOTAL
|
10000 |
AS ON 01.02.2012
|
Names of Allottees |
No. of Shares |
|
Sridev Nair |
117500 |
|
Kaza Phani Sundar |
10000 |
|
Potharaju VEnkata Rama Krishna |
10000 |
|
Pydipalli Vidyasagar |
2500 |
|
TOTAL
|
140000 |
AS ON 09.07.2011
|
Names of Allottees |
No. of Shares |
|
Sridev Nair |
70000 |
|
L. K. Udaysri |
30000 |
|
TOTAL
|
100000 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Proximity Card, Plastic Proximity Card,
Security Proximity Card, RFID Tags Paper Tags etc. |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
Not Divulged |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2013 |
31.03.2012 |
|
Sales Turnover (Approximately) |
|
25.000 |
10.000 |
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|
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|
Expected Sales (2013-2014) : Rs. 50.000 Millions
The above information has been parted by Mr. Shrikanth Reddy.
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
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 |
Yes |
|
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
two years |
Yes |
|
12] |
Profitability for last
three years |
No |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
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 |
No |
|
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 |
FORM 8
|
Corporate
identity number of the company |
U72200AP2011PTC072671 |
|
Name of the
company |
CORESONANT
SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
15-27, Baby’s Educational Complex, Beerappagadda, Uppal,
Hyderabad-500039, Andhra Pradesh, India
|
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of charge
holder |
Bank of India,
Hyderabad Main Branch, Post Box No.134, 5-8-659, Nampally Station Road,
Hyderabad-500001, Andhra Pradesh, India |
|
Nature of
instrument creating charge |
Hypothecation cum
loan agreement-IFD-010 Hypothecation cum
loan agreement-IFD-X |
|
Date of
instrument Creating the charge |
27.09.2011 |
|
Amount secured by
the charge |
Rs. 2.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Over BPLR Presently
14.25% p.a. Terms of repayment For CC : On
Demand From Term Loan :
Installments (60 EMI) Margin 20% against raw
material, finished goods Extent and operation of the charge Hypothecation of
furniture and fixtures and hardware /
software and RFID tags, readers and PVID Systems |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Furniture and Fixtures and hardware / software and RFID Tags, Readers and
PVID Systems |
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 records 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. 54.21 |
|
|
1 |
Rs. 84.00 |
|
Euro |
1 |
Rs. 70.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
NO |
|
--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.