MIRA INFORM REPORT
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Report Date : |
14.05.2013 |
IDENTIFICATION DETAILS
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Name : |
PROCONNECT SUPPLY CHAIN SOLUTIONS LIMITED |
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Registered
Office : |
SPL Guindy House, No. 95, Mount Road, Guindy, Chennai -
600032, Tamilnadu |
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Country : |
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Date of
Incorporation : |
31.08.2012 |
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Com. Reg. No.: |
18-087458 |
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Capital
Investment / Paid-up Capital : |
Rs.45.500 Millions |
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CIN No.: [Company Identification
No.] |
U63030TN2012PLC087458 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHEP14099B |
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PAN No.: [Permanent Account No.] |
AAGCD7729N |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in providing Logistics Services and Third party
Logistics (3PL) Services. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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- |
NB |
New Business |
- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and establishing itself gradually. Mr. Suresh Babu, Senior Executive has provided general information but
denied to disclose any financial detail to us. However, the networth of the company appears to be good. Trade relations
are reported as improving. Business is active. Payment terms are unknown. The company can be considered for business dealings on a safe and
secured 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) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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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 (GENERAL DETAILS)
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Name : |
Mr. Suresh Babu |
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Designation : |
Senior Executive |
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Contact No.: |
91-9381141885 |
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Date : |
13.05.2013 |
LOCATIONS
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Registered Office : |
SPL Guindy House, No. 95, Mount Road , Guindy, Chennai - 600032,
Tamilnadu, India |
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Tel. No.: |
91-44-42243259 |
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Mobile No.: |
91-9381141885 (Mr. Suresh Babu) |
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Fax No.: |
Not Available |
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E-Mail : |
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Location : |
Owned |
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Corporate Office
: |
No.156 and 157, Mahalakshmi Building, Village Road, Valluvar Kottam,
High Road, Nungabakkam, Chennai – 600034, Tamilnadu, India |
DIRECTORS
As on: 20.12.2012
|
Name : |
Mr. E.H. Kasturi Rangan |
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Designation : |
Director |
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Address : |
Flat GB Srinivas Terrace, Old No.66, New 52, Second Main Road, Gandhinagar, Adyar, Chennai - 600020, Tamilnadu, India |
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Date of Appointment : |
31.08.2012 |
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Name : |
Mr. K. Muthukumaran |
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Designation : |
Director |
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Address : |
3 Sarayu Apartments, 4th Cross street, R.A. Puram, Chennai – 600 028, Tamilnadu, India |
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Date of Appointment : |
31.08.2012 |
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Name : |
Stephen Aranha |
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Designation : |
Director |
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Address : |
440 Sector 15a, Noida - 201301, Uttar Pradesh, India |
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Date of Appointment : |
31.08.2012 |
KEY EXECUTIVES
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Name : |
Mr. Suresh Babu |
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Designation : |
Senior Executive |
MAJOR SHAREHOLDERS
As on: 20.12.2012
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Names of Allottees |
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No. of Shares |
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Redington (India) Limited, India |
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4500000 |
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Total |
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4500000 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in providing Logistics Services and Third party
Logistics (3PL) Services. |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL INFORMATION
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Customers : |
Others (Corporates) |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
Kotak Mahindra Bank, Chennai, Tamilnadu, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
KMPG Chartered Accountant |
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Address : |
Chennai, Tamilnadu, India |
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Sister Concern : |
Redington India Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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4550000 |
Equity Shares |
Rs.10/- each |
Rs.45.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4550000 |
Equity Shares |
Rs.10/- each |
Rs.45.500 Millions |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
NEW COMPANY
LOCAL AGENCY FURTHER INFORMATION
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Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
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1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
No |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
Yes |
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8] |
No. of employees |
Yes |
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9] |
Name of person contacted |
Yes |
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10] |
Designation of contact person |
Yes |
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11] |
Turnover of firm for last three years |
No |
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12] |
Profitability for last three years |
No |
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13] |
Reasons for variation <> 20% |
---------------------- |
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14] |
Estimation for coming financial year |
No |
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15] |
Capital in the business |
Yes |
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16] |
Details of sister concerns |
Yes |
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17] |
Major suppliers |
No |
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18] |
Major customers |
No |
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19] |
Payments terms |
Yes |
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20] |
Export / Import details (if applicable) |
No |
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21] |
Market information |
---------------------- |
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22] |
Litigations that the firm / promoter involved in |
---------------------- |
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23] |
Banking Details |
Yes |
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24] |
Banking facility details |
No |
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25] |
Conduct of the banking account |
---------------------- |
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26] |
Buyer visit details |
---------------------- |
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27] |
Financials, if provided |
No |
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28] |
Incorporation details, if applicable |
No |
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29] |
Last accounts filed at ROC |
No |
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30] |
Major Shareholders, if available |
Yes |
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31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
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32] |
PAN of Proprietor/Partner/Director, if available |
No |
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33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
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34] |
External Agency Rating, if available |
No |
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.54.92 |
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|
1 |
Rs.84.44 |
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Euro |
1 |
Rs.71.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
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Report Prepared
by : |
RAJ |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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- |
NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.