MIRA
INFORM REPORT
|
Report Date : |
05.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
FLEXTRONICS TECHNOLOGIES (INDIA) PRIVATE LIMITED GLOBAL SHARED SERVICE CENTRE (A DIVISION OF FLEXTRONICS TECHNOLOGIES
(INDIA) PRIVATE LIMITED) |
|
|
|
|
Registered
Office : |
Plot No. 3, Phase II, Sipcot Industrial Park, Sriperumbunder Taluk, Sandavellure
C Village, District Kancheepuram – 602106, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
12.01.2001 |
|
|
|
|
Com. Reg. No.: |
18-070708 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 1659.146
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909TN2001PTC070708 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF5248E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Mobile Phones and Printed Circuit Board Assemblies and
also in Outdoor Cabinet Assembly for various Mobile Service Providers. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 8360000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of “Flextronics International Asia Pacific
Limited, Mauritius”. It is an established company having a moderate track
record. The company is continuously incurring losses from the financial year
2010 to the current year i.e. F.Y. 2012. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of reputed holding company, the subject can be considered for
business dealings with some 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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. Anand Akur |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-44-67105152 |
|
Date : |
04.10.2013 |
LOCATIONS
|
Registered Office : |
Plot No. 3, Phase II, Sipcot Industrial Park, Sriperumbunder Taluk, Sandavellure
C Village, District Kancheepuram – 602106, Tamilnadu, India |
|
Tel. No.: |
91-44-37180264 /
67105000 |
|
Fax No.: |
91-44-45050492 |
|
E-Mail : |
omesh.raina@in.flextronics.com
rajiv.bhandari@in.flextronics.com |
|
Website : |
|
|
|
|
|
Factory 1 : |
A-380, Defense Colony,
New Delhi - 110024, India |
|
|
|
|
Factory 2 : |
28A, Electronic
City, |
|
|
|
|
Branch Office
1 : |
17, Subhash Marg,
Daryaganj, New Delhi – 110002, India |
|
Tel. No.: |
91-11-23272024/
64 |
|
Fax No.: |
91-11-23287371 |
|
|
|
|
Branch Office
2 : |
Finance Shared
Services, Baan Company 125, AP812, Ispahani Centre, 123/124, Nungambakkam
High Road, Chennai – 600034, Tamilnadu, India |
|
Tel. No.: |
91-44-66251200/
67105152 |
|
|
|
|
Branch Office
3 : |
AP828 RMZ Millennia Business Park, 7th Floor, Campus II,
No. 143, Dr. MGR Road, Kandanchavadi, Chennai - 600096, Tamilnadu, India |
DIRECTORS
AS ON 27.09.2012
|
Name : |
Mr. Ashok Dhawan |
|
Designation : |
Managing director |
|
Address : |
B-73, Pinnacle Golf Course Road, DLF Phase 5, Gurgoan - 122003, Haryana, India |
|
Date of Birth/Age : |
10.11.1964 |
|
Qualification : |
Diploma in Hotel Management and MBA Finance |
|
Date of Appointment : |
15.11.2007 |
|
DIN No.: |
00798959 |
|
|
|
|
Name : |
Manny Marimuthu |
|
Designation : |
Director |
|
Address : |
No 5 Lot 32 , Persiaran Kudalari, Country Heights, Kajang, Selangor,
Darul Eshan, Kuala Lumpur, Malaysia - 43000 |
|
Date of Birth/Age : |
11.10.1961 |
|
Date of Appointment : |
12.01.2001 |
|
DIN No.: |
00867715 |
|
|
|
|
Name : |
Sekaran Letchumanan |
|
Designation : |
Additional director |
|
Address : |
55 Lorong Permai 5, Kota Permai Bukit Mertajam Pulau Pinang 14000 |
|
Date of Birth/Age : |
07.12.1964 |
|
Date of Appointment : |
01.07.2013 |
|
DIN No.: |
02069716 |
|
|
|
|
Name : |
Bernard Jin Yang Liew |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
06.02.1965 |
|
Date of Appointment : |
29.07.2009 |
|
DIN No.: |
02713564 |
KEY EXECUTIVES
|
Name : |
Mr. Anand Akur |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Mrs. Monika Dhanuka |
|
Designation : |
Secretary |
|
Address : |
New No. 100, Old No. 47, V V Koil Street, Kusapet,
(Near Puraswalkkam), Chennai - 600012, Tamilnadu, India |
|
Date of Appointment : |
29.05.2012 |
|
PAN No.: |
AMFPD9714J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2012
|
Names of Equity Shareholders |
No. of Shares |
%of equity shares held |
|
Flextronics International Asia Pacific Limited, Mauritius |
58541911 |
97.17 |
|
Flextronics Telecom Systems Limited, Mauritius |
1401914 |
2.33 |
|
Flextronics Mauritius Limited, Mauritius |
302558 |
0.50 |
|
Coldwatt Inc, USA |
1 |
0.00 |
|
|
|
|
|
Total |
60246384 |
100.00 |
|
Names of Preference Shareholder |
No. of Shares |
%of preference shares held |
|
Flextronics
International Asia Pacific Limited, Mauritius |
105668199 |
100 |
|
|
|
|
|
Total |
105668199 |
100 |
AS ON 27.09.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Mobile Phones and Printed Circuit Board Assemblies and
also in Outdoor Cabinet Assembly for various Mobile Service Providers. |
||||||
|
|
|
||||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Citi Bank, M G Road,
Bangalore, Karnataka, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jain, Christopher, Srikanth and Srikanth Chartered Accountants |
|
Address : |
# 20 2nd Floor, Uniworth Plaza, Sankey Road, Bangalore -
560020, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFJ0586H |
|
|
|
|
Associates : |
· Flextronics America LLC Flextronics Enclosure (Shenzhen) Limited Flextronics Budapest KFT Flextronics International Aguascalientes (L) Limited Flextronics Industrial (Shenzhen) Limited Flextronics International Asia-Pacific Limited Flextronics International Singapore Pte. Limited Flextronics International Europe B.V. Flextronics International Aguascalie Flextronics International Japan Company Limited Flextronics International Kft. Flextronics International Poland Sp z.o.o. Flextronics International Poland SP Flextronics International Tecn Flextronics International Tecnologia Flextronics Manufacturing (Singapore) Pte Limited Flextronics Manufacturing (Zhuhai) Company Limited Flextronics Manufacturing Mexico Flext ronics Manufacturing Zhuhai (Mauritius) Company
Limited Flextronics Technology (Penang) Sdn. Bhd. Solectron Hungary Electronics Flextronics Manufacturing Mexico (GDL) Flextronics Tech (Malaysia) SDN BHD Flextronics Budapest KFT Flextronics Enclosure Systems (Shenzhen) Limited Multek Technologies Limited Flextronics International Japan Solectron Hungary Electronics KFT Flextronics International Kft Flextronics Metal Specialties Inc Flextronics International Tecnologia Limited Solectron USA LLC Flextronics Enclosure Systems Senzhen Limited Flextronics International Cork BV Flextronics Enclosure (Shenzhen) Limited Flextronics Electronics Technology (Shenzhen) Company
Limited Flextronics Information Technology (Shen Zhen) Company
Limited Flextronics International Sweden AB Flextronics Manufacturing Juarez, SDERLDE C V Flextronics International Management Services Limited Flextronics International Europe B.V. Flextronics Marketing (L) Limited Vista Point Technologies (Malaysia) SDN BHD Flextronics Manufacturing (H.K.) Limited Flext ronics International USA, Inc Flextronics International Europe B.V. Flextronics International USA Inc (FIUI) Flextronics International Latin America, Limited Flextronics International Europe B.V. Flextronics International Asia-Pacific Limited Flextronics Logistics B.V. Flextronics Marketing (L) Company Limited Flextronics International GMBH Multilayer Technology GMBH and Company KG |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
129,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1295.000 Millions |
|
115,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 1150.000 Millions |
|
|
Total |
|
Rs. 2445.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60,246,384 |
Equity Shares |
Rs. 10/- each |
Rs. 602.464
Millions |
|
105,668,199 |
Preference Shares |
Rs. 10/- each |
Rs. 1056.682
Millions |
|
|
Total |
|
Rs. 1659.146 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 |
|
1659.146 |
1659.146 |
|
(b) Reserves & Surplus |
|
431.651 |
433.777 |
|
(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) |
|
2090.797 |
2092.923 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
14.979 |
14.979 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
28.925 |
14.980 |
|
(d) long-term
provisions |
|
99.598 |
95.493 |
|
Total Non-current
Liabilities (3) |
|
143.502 |
125.452 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
615.037 |
1707.358 |
|
(c)
Other current liabilities |
|
288.517 |
305.800 |
|
(d) Short-term
provisions |
|
329.429 |
126.614 |
|
Total Current
Liabilities (4) |
|
1232.983 |
2139.772 |
|
|
|
|
|
|
TOTAL |
|
3467.282 |
4358.147 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1263.966 |
1553.495 |
|
(ii) Intangible
Assets |
|
14.892 |
1.356 |
|
(iii)
Capital work-in-progress |
|
6.584 |
69.071 |
|
(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 |
|
63.806 |
62.839 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1349.248 |
1686.761 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
361.823 |
767.393 |
|
(c)
Trade receivables |
|
796.687 |
1066.233 |
|
(d) Cash
and cash equivalents |
|
613.964 |
405.424 |
|
(e)
Short-term loans and advances |
|
323.403 |
302.482 |
|
(f) Other
current assets |
|
22.157 |
129.854 |
|
Total
Current Assets |
|
2118.034 |
2671.386 |
|
|
|
|
|
|
TOTAL |
|
3467.282 |
4358.147 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1659.146 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2885.987 |
|
|
4] (Accumulated Losses) |
|
|
(2221.205) |
|
|
NETWORTH |
|
|
2323.928 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
14.979 |
|
|
TOTAL BORROWING |
|
|
14.979 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2338.907 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1830.736 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
236.660
|
|
|
Sundry Debtors |
|
|
406.164
|
|
|
Cash & Bank Balances |
|
|
307.432
|
|
|
Other Current Assets |
|
|
13.417
|
|
|
Loans & Advances |
|
|
485.006
|
|
Total
Current Assets |
|
|
1448.679
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
671.125
|
|
|
Other Current Liabilities |
|
|
205.327
|
|
|
Provisions |
|
|
64.056
|
|
Total
Current Liabilities |
|
|
940.508
|
|
|
Net Current Assets |
|
|
508.171
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2338.907 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4162.521 |
3541.938 |
2131.751 |
|
|
|
Other Income |
NA |
78.361 |
267.190 |
|
|
|
TOTAL |
NA
|
3620.299 |
2398.941 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Manufacturing Expenses |
|
|
822.198 |
|
|
|
Personnel Expenses |
|
|
742.781 |
|
|
|
Operating and Other Expenses |
|
|
435.110 |
|
|
|
Selling and Marketing Expenses |
|
|
8.135 |
|
|
|
Increase / (Decrease) in inventories
|
|
|
(36.478) |
|
|
|
TOTAL |
NA
|
3827.349 |
1971.746 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
427.195 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION AND
AMORTISATION |
|
|
418.294 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAXES, EXTRA-ORDINARY ITEMS AND PRIOR PERIOD ITEMS |
20.089 |
(207.050) |
8.901 |
|
|
|
|
|
|
|
|
|
|
EXTRAORDINARY
ITEMS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
ADJUSTMENTS |
22.214 |
23.954 |
8.742 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(2.125) |
(231.004) |
0.159 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
(2.125) |
(231.004) |
0.159 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(2452.209) |
(2221.204) |
(2139.613) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(2454.334) |
(2452.209) |
(2139.454) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exports on FOB basis |
|
2108.694 |
257.506 |
|
|
|
Service income |
|
|
975.795 |
|
|
|
Reimbursements |
|
|
90.433 |
|
|
TOTAL EARNINGS |
3531.517 |
2108.694 |
1323.734 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
356.482 |
|
|
|
Capital equipment (including spares and components) |
|
|
36.719 |
|
|
TOTAL IMPORTS |
NA |
NA |
393.201 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(0.01) |
(1.39) |
0.0028 |
|
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KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
(6.38)
|
0.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.05)
|
(6.52)
|
0.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.06)
|
(5.39)
|
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
(0.11)
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.01
|
0.01 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72
|
1.25 |
1.54 |
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 |
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 |
Yes |
|
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 |
Yes |
LITIGATION DETAILS
CHENNAI COURT
CASE STATUS INFORMATION SYSTEM
|
Case Status: |
Pending |
||||||
|
Status Of: |
ORIGINAL SIDE
APPEAL |
||||||
|
Case No.: |
40 |
||||||
|
Year : |
2011 |
||||||
|
Petitioner : |
TEJAS NETWORKS
LIMITED |
||||||
|
Respondent : |
FLEXTRONICS TECHNOLOGIES
(I) |
||||||
|
Pet's Advocate : |
M/S. A.K.
MYLSAMY ASSOCIATE |
||||||
|
Res's Advocate : |
|
||||||
|
Category : |
NO CATEGORY
MENTIONED |
||||||
|
|
Last Listed on:
No Date Mentioned |
||||||
|
Case Updated on
: |
Jan 3 2012 |
||||||
|
Connected
Application(s)
|
No Connected
Matter(s) |
Note:
The Registered Office of the company has been shifted from 88A,
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
14.979 |
14.979 |
|
|
|
|
|
Total |
14.979 |
14.979 |
FIXED ASSETS:
· Land
Buildings
Plant
and equipment
Furniture
and fixtures
Vehicles
Office
equipment
Leasehold
improvements
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. 61.41 |
|
|
1 |
Rs. 99.29 |
|
Euro |
1 |
Rs. 83.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.