MIRA
INFORM REPORT
|
Report Date : |
22.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
THREE D INTEGRATED SOLUTIONS LIMITED |
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Registered
Office : |
W-77, Greater Kailash Part II, New Delhi-110048 |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
22.03.2007 |
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Com. Reg. No.: |
55-160949 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.500 Million |
|
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CIN No.: [Company Identification
No.] |
U72213DL2007PLC160949 |
|
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELT07148B |
|
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PAN No.: [Permanent Account No.] |
AACCT6372K |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
They are into service provider of System Integration, Technical
Support Services and Sale of Technical Spares. |
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No. of Employees
: |
450 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 180000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Rating reflects sound financial risk profile marked by comfortable gearing
and adequate debt protection metrics followed by diverse services portfolio
and strong operational capabilities. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company can be considered for business dealing 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Satish Chaudhary |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9717772071 |
|
Date : |
18.12.2014 |
LOCATIONS
|
Registered Office : |
W-77, Greater Kailash Part II, New Delhi-110048, |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9717772071 (Mr. Satish Chaudhary) |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location: |
Owned |
|
|
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Corporate Office 1 : |
#609-611, 6th Floor, |
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Tel. No.: |
91-124-4974730 / 4101883 / 84 |
|
Fax No.: |
91-124-4054225 |
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|
|
|
Services Sales and support Office : |
#409, 4th Floor, Bestech Cyber Park, Narsinghpur, NH-8,
Gurgaon-122004, Haryana, India |
|
Tel. No.: |
91-124-2210165 |
|
Fax No.: |
91-124-2210164 |
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E-Mail : |
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Corporate Office 2 : |
1107-1115, 11th Floor, Tower A-1, Spaze I Tech Park Sector
49, Sohna Road, Gurgaon – 122002, Haryana, India |
|
Tel No.: |
91-124-6163900 |
|
Area: |
10,000 Sq ft |
|
Location: |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Kuldeep Kaul |
|
Designation : |
Director |
|
Address : |
302/22, Heritage City Meharauli Gurgaon Road, Gurgaon-122002, Haryana,
India |
|
Date of Birth/Age : |
23.10.1961 |
|
Date of Appointment : |
02.11.2009 |
|
DIN No.: |
00356445 |
|
Name : |
Mr. Nand Lal Bhatia |
|
Designation : |
Director |
|
Address : |
W-77, Greater Kailash Part II, New Delhi-110048, India |
|
Date of Birth/Age : |
15.08.1948 |
|
Date of Appointment : |
02.11.2009 |
|
DIN No.: |
00398530 |
|
Name : |
Mr. Bhatia Siddharth |
|
Designation : |
Director |
|
Address : |
W-77, Greater Kailash Part II, New Delhi-110048, India |
|
Date of Birth/Age : |
15.08.1948 |
|
Date of Appointment : |
20.08.1981 |
|
DIN No.: |
06562790 |
KEY EXECUTIVES
|
Name : |
Mr. Satish Chaudhary |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Kaul Kuldeep |
8500 |
|
Kaul Romella |
8500 |
|
Bhatia Lal Nand |
16500 |
|
Bhatia Rukmani |
16495 |
|
Bhatia Savita |
1 |
|
Bhatia Siddharth |
2 |
|
Juneja Urvi |
2 |
|
TOTAL
|
50000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
They are into service provider of System Integration, Technical
Support Services and Sale of Technical Spares. |
|
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
PBB/ Finished Good |
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Countries : |
Indonesia |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
450 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Auditors 1: |
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Name : |
Arora Gupta and Goel Chartered Accountants |
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Auditors 2 : |
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|
Name : |
D.V. Mittal and Company Chartered Accountants |
|
Address : |
101 Time House 5 Community Centre, Wazirpur Industrial Area, New Delhi
– 110052, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFD5458K |
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Memberships : |
-- |
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Collaborators : |
-- |
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Entities in which
KMP / Relatives of KMP can exercise significant influence: |
· HBE Aviosec Private Limited · Horizon Broadcast Electronics Private Limited · Govind Jewels Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500
Million |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
61.476 |
51.224 |
45.929 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
61.976 |
51.724 |
46.429 |
|
|
|
|
|
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(3) Non-Current Liabilities |
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|
|
|
(a) long-term borrowings |
45.820 |
44.654 |
39.445 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.074 |
|
(d) long-term provisions |
2.194 |
2.596 |
0.000 |
|
Total
Non-current Liabilities (3) |
48.014 |
47.250 |
39.519 |
|
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|
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(4) Current Liabilities |
|
|
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|
(a) Short term borrowings |
0.581 |
0.000 |
0.000 |
|
(b) Trade payables |
3.472 |
2.476 |
5.294 |
|
(c) Other current liabilities |
9.421 |
5.808 |
18.638 |
|
(d) Short-term provisions |
6.341 |
3.763 |
9.112 |
|
Total
Current Liabilities (4) |
19.815 |
12.047 |
33.044 |
|
|
|
|
|
|
TOTAL |
129.805 |
111.021 |
118.992 |
|
|
|
|
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II.
ASSETS |
|
|
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(1) Non-current assets |
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|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
10.131 |
8.525 |
2.394 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
3.062 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.255 |
0.255 |
0.255 |
|
(c) Deferred tax assets (net) |
0.786 |
0.957 |
0.000 |
|
(d) Long-term Loan and Advances |
0.070 |
0.255 |
0.249 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.053 |
|
Total
Non-Current Assets |
11.242 |
9.992 |
6.013 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3.710 |
2.967 |
0.000 |
|
(c) Trade receivables |
26.310 |
27.163 |
44.264 |
|
(d) Cash and cash equivalents |
74.829 |
63.172 |
55.380 |
|
(e) Short-term loans and
advances |
13.714 |
7.727 |
13.335 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
118.563 |
101.029 |
112.979 |
|
|
|
|
|
|
TOTAL |
129.805 |
111.021 |
118.992 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
179.183 |
155.465 |
164.711 |
|
|
Other Income |
5.481 |
6.654 |
7.554 |
|
|
TOTAL
(A) |
184.664 |
162.119 |
172.265 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
33.464 |
26.539 |
28.099 |
|
|
Employees benefits expense |
70.114 |
77.033 |
53.700 |
|
|
Other expenses |
64.609 |
49.471 |
68.210 |
|
|
TOTAL
(B) |
168.187 |
153.043 |
150.009 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
16.477 |
9.076 |
22.256 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.348 |
0.447 |
0.292 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
16.129 |
8.629 |
21.964 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
0.953 |
0.696 |
0.377 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
15.176 |
7.933 |
21.587 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
4.925 |
2.637 |
7.194 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
10.251 |
5.296 |
14.393 |
|
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|
|
|
|
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|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
51.224 |
45.929 |
31.535 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
61.475 |
51.225 |
45.929 |
|
|
|
|
|
|
|
|
VALUE OF EXPORT ON
FOB BASIS |
0.669 |
1.962 |
47.302 |
|
|
|
|
|
|
|
|
VALUE OF DIRECT
IMPORT ON CIF BASIS |
0.872 |
8.836 |
4.991 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
205.03 |
105.91 |
287.87 |
Expected Sales (2014-2015) : Rs.200.000 Millions
The above information has been parted by Mr. Satish Choudhary
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.72 |
3.41 |
8.74 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.20 |
5.84 |
13.51 |
|
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|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.79 |
7.22 |
18.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.15 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.75 |
0.86 |
0.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.98 |
8.39 |
3.42 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
45.929 |
51.224 |
61.476 |
|
Net
worth |
46.429 |
51.724 |
61.976 |
|
|
|
|
|
|
long-term borrowings |
39.445 |
44.654 |
45.820 |
|
Short term borrowings |
0.000 |
0.000 |
0.581 |
|
Total
borrowings |
39.445 |
44.654 |
46.401 |
|
Debt/Equity
ratio |
0.850 |
0.863 |
0.749 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
164.711 |
155.465 |
179.183 |
|
|
|
(5.613) |
15.256 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
164.711 |
155.465 |
179.183 |
|
Profit |
14.393 |
5.296 |
10.251 |
|
|
8.74% |
3.41% |
5.72% |
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 |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
|
25] |
Conduct of the banking
account |
Yes |
|
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 |
CORPORATE INFORMATION
Subject is a young and growing organization started with a focus on customer satisfaction and delight. Three D has earned the reputation of being the most respected organization in terms of innovative approach and technical competence in the field of System Integration and Technical Support.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from Related parties From Others |
44.654 |
44.654 |
|
Total |
44.654 |
44.654 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10266517 |
29/04/2013 * |
35,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B75491365 |
* Date of charge modification
FIXED ASSETS
· Equipments
· Car
· Computers
· Mobile Phones
· Furniture and Fixtures
· Water Purifire
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.63.07 |
|
|
1 |
Rs.98.73 |
|
Euro |
1 |
Rs.77.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.