1. Summary Information
|
Country |
India |
||
|
Company Name |
GLOBAL INFONET DISTRIBUTION PRIVATE LIMITED |
Principal Name 1 |
Venkata Subramaniyan Muthuchandrasekar |
|
Status |
Satisfactory |
Principal Name 2 |
Vibu Venkata Subramanian |
|
Registration # |
55-171871 |
||
|
Street Address |
241, Ground
Floor, Ghalib Apartment, Parwana Road, Pitampura, New Delhi - 110034 |
||
|
Established Date |
27.12.2007 |
SIC Code |
-- |
|
Telephone# |
91-11-40531589 |
Business Style 1 |
Distributor |
|
Fax # |
Not Available |
Business Style 2 |
Trader |
|
Homepage |
Product Name 1 |
Machines and Consumables from Xerox |
|
|
# of employees |
Not Available |
Product Name 2 |
Mother Boards from Jetway |
|
Paid up capital |
Rs.176,105,000/-
|
Product Name 3 |
Hard Disc Drives from Western Digital |
|
Shareholders |
Foreign Holdings 99.82%, Directors or relatives of directors 0.18% |
Banking |
Yes Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
6 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (50) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
UAE |
Global Distribution FZE |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,436,889,000 |
Current Liabilities |
1,269,186,000 |
|
Inventories |
1,356,715,000 |
Long-term Liabilities |
1,046,528,000 |
|
Fixed Assets |
7,112,000 |
Other Liabilities |
21,531,000 |
|
Deferred Assets |
2,055,000 |
Total Liabilities |
2,337,245,000 |
|
Invest& other Assets |
17,412,000 |
Retained Earnings |
266,761,000 |
|
|
|
Net Worth |
482,938,000 |
|
Total Assets |
2,820,183,000 |
Total Liab. & Equity |
2,820,183,000 |
|
Total Assets (Previous Year) |
1,946,025,000 |
|
|
|
P/L Statement as of |
31.12.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
9,346,076,000 |
Net Profit |
89,683,000 |
|
Sales(Previous yr) |
8,351,867,000 |
Net Profit(Prev.yr) |
58,386,000 |
MIRA INFORM REPORT
|
Report Date : |
27.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL INFONET DISTRIBUTION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
241, Ground
Floor, Ghalib Apartment, Parwana Road, Pitampura, New Delhi - 110034 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
27.12.2007 |
|
|
|
|
Com. Reg. No.: |
55-171871 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 176.105
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51101DL2007PTC171871 |
|
|
|
|
IEC No.: |
0507080084 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELG10863G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCG0161G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Traders of Information Technology Products and also Distributors for
Dell, Lenovo, Xerox, Western Digital, Hard Drives, Jet way, Motherboards. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1931700 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company satisfactory track record. General financial
position of the company is good. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitment. 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports
and moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB+ [Long Term] |
|
Rating Explanation |
Moderate degree of safety. It carry moderate credit risk. |
|
Date |
29.05.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A2 [Short Term] |
|
Rating Explanation |
Strong degree of safety. It carry very low credit risk. |
|
Date |
29.05.2013 |
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
Management non co-operative [91-11-48317000]
LOCATIONS
|
Registered Office : |
241, Ground
Floor, Ghalib Apartment, |
|
Tel. No.: |
91-11-40531589 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office: |
‘Batra House’, Lower Ground Floor, Plot No. 52, Sector 32, Gurgaon - 122001,
Haryana, India |
|
Tel. No.: |
91-124-4971600 |
|
Fax No.: |
91-124-4971610 |
|
|
|
|
Branch Office : |
Located At:
|
DIRECTORS
AS ON 30.06.2013
|
Name : |
Venkata Subramaniyan Muthuchandrasekar |
|
Designation : |
Managing director |
|
Address : |
Po Box 17974, Dubai 097104, UAE |
|
Date of Birth/Age : |
28.06.1968 |
|
Date of Appointment : |
15.02.2008 |
|
Voter ID No.: |
LWN5727847 |
|
DIN No.: |
01918372 |
|
|
|
|
Name : |
Vibu Venkata Subramanian |
|
Designation : |
Director |
|
Address : |
Old No. 6, New No. 11, Thiruvengadam Street, Mandaveli, Chennai - 600028, Tamilnadu, India |
|
Date of Birth/Age : |
20.03.1979 |
|
Date of Appointment : |
31.10.2008 |
|
DIN No.: |
02393172 |
KEY EXECUTIVES
|
Name : |
Mrs. Shubhangi Garg |
|
Designation : |
Company Secretary |
|
Address : |
E-161, 3rd Floor, Gautam Nagar, New Delhi - 110049, India |
|
Date of Birth/Age : |
26.12.1985 |
|
Date of Appointment : |
02.03.2010 |
|
PAN No.: |
ARFPG3301E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Global Distribution FZE, UAE |
16687573 |
77.19 |
|
Geo Infonet Limited, UAE |
4891800 |
22.63 |
|
Vibu Venkatasubramanian |
38384 |
0.18 |
|
|
|
|
|
TOTAL
|
21617757 |
100.00 |
AS ON 30.06.2013
|
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] |
|
99.82 |
|
Directors
or relatives of directors |
|
0.18 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Traders of Information Technology Products and also Distributors for
Dell, Lenovo, Xerox, Western Digital, Hard Drives, Jet way, Motherboards. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Khandelwal Jain and Company Chartered Accountants |
|
Address : |
221, Hans Bhawan, Bahadur Shah Zafar Marg,
New Delhi – 110002, India |
|
PAN No: |
AAAFK0985C |
|
|
|
|
Holding Company : |
Global Distribution FZE, Dubai |
|
|
|
|
Fellow Subsidiaries : |
|
|
|
|
|
Subsidiaries : |
Zetabyte Computer Private
Limited [U72900DL2012PTC232023] |
|
|
|
|
Other Related Parties : |
Globalit
Life Style Technology Store Private Limited [U52590DL2012PTC231496] |
CAPITAL STRUCTURE
AS ON 30.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
21617757 |
Equity Shares |
Rs.10/- each
|
Rs.216.177
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.12.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
216.177 |
|
(b) Reserves & Surplus |
|
|
266.761 |
|
(c) Money received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
482.938 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
|
199.841 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c)
Other long term liabilities |
|
|
0.000 |
|
(d)
Long-term provisions |
|
|
2.419 |
|
Total
Non-current Liabilities (3) |
|
|
202.260 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
|
846.687 |
|
(b)
Trade payables |
|
|
1034.361 |
|
(c)
Other current liabilities |
|
|
234.825 |
|
(d)
Short-term provisions |
|
|
19.112 |
|
Total
Current Liabilities (4) |
|
|
2134.985 |
|
|
|
|
|
|
TOTAL |
|
|
2820.183 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
|
7.112 |
|
(ii)
Intangible Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
17.252 |
|
(iv) Intangible assets under development |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
0.160 |
|
(c) Deferred tax assets
(net) |
|
|
2.055 |
|
(d) Long-term Loan
and Advances |
|
|
1.436 |
|
(e)
Other Non-current assets |
|
|
0.000 |
|
Total
Non-Current Assets |
|
|
28.015 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
1356.715 |
|
(c)
Trade receivables |
|
|
999.134 |
|
(d)
Cash and cash equivalents |
|
|
283.606 |
|
(e)
Short-term loans and advances |
|
|
50.630 |
|
(f)
Other current assets |
|
|
102.083 |
|
Total
Current Assets |
|
|
2792.168 |
|
|
|
|
|
|
TOTAL |
|
|
2820.183 |
|
SOURCES OF FUNDS |
|
31.12.2011 |
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
176.105 |
176.105 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
176.808 |
118.422 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
352.913 |
294.527 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
535.376 |
498.039 |
|
|
2] Unsecured Loans |
|
129.040 |
0.000 |
|
|
TOTAL BORROWING |
|
664.416 |
498.039 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1017.329 |
792.566 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
8.502 |
6.337 |
|
|
Capital work-in-progress |
|
17.252 |
13.901 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
2.258 |
2.198 |
|
|
DEFERRED TAX ASSETS |
|
2.517 |
1.992 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
890.185
|
708.803
|
|
|
Sundry Debtors |
|
776.290
|
804.399
|
|
|
Cash & Bank Balances |
|
165.724
|
236.151
|
|
|
Other Current Assets |
|
0.000
|
1.697
|
|
|
Loans & Advances |
|
83.297
|
119.731
|
|
Total
Current Assets |
|
1915.496
|
1870.781
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
870.297
|
1054.202
|
|
|
Other Current Liabilities |
|
30.701
|
28.116
|
|
|
Provisions |
|
27.698
|
20.325
|
|
Total
Current Liabilities |
|
928.696
|
1102.643
|
|
|
Net Current Assets |
|
986.800
|
768.138
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1017.329 |
792.566 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9346.076 |
8351.867 |
6707.466 |
|
|
|
Other Income |
69.387 |
62.107 |
81.637 |
|
|
|
TOTAL (A) |
9415.463 |
8413.974 |
6789.103 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
0.000 |
7850.297 |
6513.526 |
|
|
|
Personnel Expenses |
0.000 |
75.248 |
50.841 |
|
|
|
Operating and Other Expenses |
0.000 |
308.032 |
77.275 |
|
|
|
Purchase of Stock in Trade |
9397.915 |
0.000 |
0.000 |
|
|
|
Employee Benefit Expenses |
69.323 |
0.000 |
0.000 |
|
|
|
Other Expenses |
198.141 |
0.000 |
0.000 |
|
|
|
Investment Written Off |
2.198 |
0.000 |
0.000 |
|
|
|
Changes in Inventories of Stock in Trade |
(466.529) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
9201.048 |
8233.577 |
6641.642 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
214.415 |
180.397 |
147.461 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
108.018 |
79.257 |
37.401 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
106.397 |
101.140 |
110.060 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
2.578 |
2.776 |
2.166 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
103.819 |
98.364 |
107.894 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.136 |
39.978 |
36.479 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
89.683 |
58.386 |
71.415 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
58.386 |
113.086 |
41.671 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
148.069 |
171.472 |
113.086 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1099.132 |
43.696 |
0.000 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Information Technology related Products |
5351.361 |
4658.644 |
2410.354 |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.44 |
3.32 |
4.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
0.95
|
0.69
|
1.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.11
|
1.18
|
1.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.71
|
5.11
|
5.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.28
|
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.17
|
1.88
|
1.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31
|
2.06
|
1.70 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
6707.466 |
8351.867 |
9346.076 |
|
|
|
24.516 |
11.904 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
6707.466 |
8351.867 |
9346.076 |
|
Profit |
71.415 |
58.386 |
89.683 |
|
|
1.06% |
0.70% |
0.96% |
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 |
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 |
-- |
|
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 |
Yes |
INDEX OF CHARGES:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10456403 |
01/10/2013 |
260,000,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, STATESMAN
HOUSE, 148, BARAKHAMBA ROAD, |
B88096250 |
|
2 |
10388754 |
31/10/2012 |
350,000,000.00 |
STANDARD CHARTERED BANK |
CREDIT DOCUMENTATION
UNIT, NARAIN MANZIL, 23 BARA |
B62869201 |
|
3 |
10381731 |
20/11/2013 * |
400,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 6TH
FLOOR PALM COURT NEAR MDI, |
B91203166 |
|
4 |
10273001 |
10/12/2013 * |
140,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B92000256 |
|
5 |
10230997 |
18/11/2011 * |
750,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE,
ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B29698313 |
* Date of charge modification
NOTE:
The registered address of the company has been shifted from D - 88,
Okhla Industrial Area, Phase-I, New Delhi – 110020, India to the present
w.e.f.16.04.2010.
BACKGROUND:
Subject is a
wholly owned subsidiary of Global FZE, Dubai is engaged in the trading of
Information Technology Products and are the national Tier 1 distributors for
Dell, Lenovo, Xerox, Western Digital Hard Drives, Jet Way Motherboards. As a
Tier 1 distributor of IT Products the Company purchases goods from the above
said Vendors for selling them to Tier II distributors in India.
|
Unsecured Loan |
As
on 31.12.2012 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
Loans repayable on demand from others |
199.841 |
|
|
|
|
Unsecured Loan |
As
on 31.12.2011 [Rs.
in Millions] |
|
Loans subsidiaries unsecured |
129.040 |
|
TOTAL
|
129.040 |
FIXED ASSETS:
- Computer and Peripherals
- Furniture and Fittings
- Office Equipment
- Vehicles
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.60.17 |
|
|
1 |
Rs.99.39 |
|
Euro |
1 |
Rs.83.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.