MIRA INFORM REPORT
|
Report No. : |
306434 |
|
Report Date : |
04.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
INTELLICON PRIVATE LIMITED |
|
|
|
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Registered
Office : |
B-20, GIDC, Electronics Estate, Sector – 25, Gandhinagar - 382024,
Gujarat |
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
27.12.1984 |
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|
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Com. Reg. No.: |
04-007533 |
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Capital Investment
/ Paid-up Capital : |
Rs. 5.401 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32201GJ1984PTC007533 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMI00588A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI4324C |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of telecom switching equipments. |
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|
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. The management has failed to file its financial with government
department for the year 2014. As per available financial of 2013, the rating is constrained on
account of company’s moderate financial risk profile and loss that company
has incurred from its operational activities. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealing 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.
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. Rakesh |
|
Designation : |
Deputy Manager - Finance |
|
Contact No.: |
91-79-30512000 |
|
Date : |
02.02.2015 |
LOCATIONS
|
Registered Office : |
B-20, GIDC, Electronics Estate, Sector – 25, Gandhinagar - 382024,
Gujarat, India |
|
Tel. No.: |
91-79-30512000 |
|
Fax No.: |
91-79-30512010 |
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E-Mail : |
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|
|
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|
Factory : |
B-404, Shivalik Plaza, Opposite AMA, Panjrapole, Ahmedabad – 380015,
Gujarat, India |
|
Tel. No.: |
91-79-30013333 |
|
Fax No.: |
91-79-30013300 |
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Sameer Shashikant Parekh |
|
Designation : |
Managing Director |
|
Address : |
2-A, Rockside, Walkeshwar Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
23.11.1963 |
|
Qualification : |
M.S. |
|
Experience : |
24 Years |
|
Date of Appointment : |
28.09.1987 |
|
DIN : |
00010159 |
|
|
|
|
Name : |
Mr. Shashikant Shamjibhai Parekh |
|
Designation : |
Director |
|
Address : |
2-A, Rockside, Walkeshwar Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
13.12.1932 |
|
Date of Appointment : |
02.05.1986 |
|
DIN : |
00030682 |
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|
|
|
Name : |
Ms. Meeta Hetal Trivedi |
|
Designation : |
Director |
|
Address : |
Plot No.315, Sector – 8, Gandhinagar - 382007, |
|
Date of Birth/Age : |
08.11.1966 |
|
Qualification : |
BE-EC |
|
Experience : |
21 Years |
|
Date of Appointment : |
20.08.2011 |
|
DIN : |
03601532 |
|
|
|
|
Name : |
Mr. Srinivasan Rengacharri
Sudarsana |
|
Designation : |
Director |
|
Address : |
C-204, Kusum Bharti, Borivali (East), Mumbai – 4000067, Maharashtra,
India |
|
Date of Birth/Age : |
12.08.1965 |
|
Qualification : |
BA, MBA |
|
Experience : |
27 Years |
|
Date of Appointment : |
20.08.2011 |
|
DIN : |
03602209 |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh |
|
Designation : |
Deputy Manager - Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Sameer Shashikant Parekh |
94560 |
|
Shashikant Shamjibhai Parekh [HUF] |
18000 |
|
Arusha Stock Holdings Private Limited, India |
427500 |
|
|
|
|
Total |
540060 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
80.00 |
|
Directors or relatives of Directors |
20.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of telecom switching equipments. |
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|
|
|
Products : |
Enterprise Communications Ø
IP Communication Server Ø
ISDN/ IP Based Digital EPABX Ø
Digital ISDN Key Telephone System Ø
Analog Key Telephone Systems Video Conferencing and AV Integration Solutions Ø
High Definition VC Products & Solutions Ø
VC Infrastructure Products and Desktop solutions Ø
Integrated Control & Automation Systems Ø
LFD/LED Displays & Video Wall Solutions Information Technology Ø
Mobile Computers Ø
Barcode Scanners/ Ø
Barcode / RFID Printers Ø
Mobile Printers Ø
High Speed Industrial Laser-Raster/ Image
Scanners Ø
RFID Equipments Ø
Wireless Network Components Software Products Ø
IntelliASSET: Asset Tracking Software Ø
IntelliCAS: Call Accounting Software Ø
IntelliCONSOLL PC Based Consol Ø
IntelliCONTACT: Call Centre Solution Ø
IntelliCONTACT-VL: Voice Loggers Ø
IntelliERS: Emergency Reporting System Ø
IntelliIVRSL Integrated Voice Response System Ø
IntelliMEET: Meet Me Conference Solution Ø
IntelliVMS: Voice Mail Solution Ø
IntelliWMS: Warehouse Management Software |
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Brand Names : |
Not Available |
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|
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Agencies Held : |
Ø Life Size /
Radvision Ø Karel / NEC /
Avaya Ø Karel .
Intellisec Ø Zebra /
Honeywell / Microscan / Bluebird / Impinj |
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Exports : |
Not Available |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Credit (Advance) |
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Purchasing : |
L/C |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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Facilities : |
-- |
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Auditors : |
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|
Name : |
Shreekant
S Shah and Company Chartered
Accountants |
|
Address : |
11, Krishna Apartment, 2nd Floor, Opposite Russian Flats,
Navrangpura, Ahmedabad – 380009, |
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Tel. No.: |
91-79-26425541/ 26441102 |
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Fax No.: |
91-79-26430843 |
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E-Mail : |
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PAN No.: |
ACVPS6968C |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2150000 |
Equity Shares |
Rs.10/- each |
Rs. 21.500 Millions |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
540060 |
Equity Shares |
Rs.10/- each |
Rs.5.401 Millions |
|
|
|
|
|
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 |
5.401 |
5.401 |
18.401 |
|
(b) Reserves & Surplus |
103.193 |
104.391 |
82.004 |
|
(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) |
108.594 |
109.792 |
100.405 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
57.711 |
59.703 |
64.297 |
|
(b) Deferred tax liabilities (Net) |
4.945 |
3.271 |
4.656 |
|
(c) Other long term
liabilities |
0.116 |
0.299 |
0.319 |
|
(d) long-term
provisions |
0.000 |
0.000 |
5.209 |
|
Total Non-current
Liabilities (3) |
62.772 |
63.273 |
74.481 |
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
127.254 |
132.871 |
99.984 |
|
(b) Trade
payables |
125.387 |
124.039 |
198.730 |
|
(c) Other
current liabilities |
38.923 |
50.049 |
82.785 |
|
(d) Short-term
provisions |
37.262 |
16.861 |
30.913 |
|
Total Current
Liabilities (4) |
328.826 |
323.820 |
412.412 |
|
|
|
|
|
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TOTAL |
500.192 |
496.885 |
587.298 |
|
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|
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|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
39.625 |
43.986 |
46.123 |
|
(ii)
Intangible Assets |
1.532 |
2.413 |
1.540 |
|
(iii)
Capital work-in-progress |
1.153 |
0.329 |
0.219 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.090 |
1.090 |
1.090 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
6.818 |
8.304 |
8.298 |
|
Total Non-Current
Assets |
50.218 |
56.122 |
57.270 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
142.412 |
126.687 |
95.854 |
|
(c) Trade
receivables |
240.537 |
254.175 |
397.717 |
|
(d) Cash
and cash equivalents |
14.541 |
19.421 |
7.617 |
|
(e)
Short-term loans and advances |
38.799 |
11.278 |
4.192 |
|
(f) Other
current assets |
13.685 |
29.202 |
24.648 |
|
Total
Current Assets |
449.974 |
440.763 |
530.028 |
|
|
|
|
|
|
TOTAL |
500.192 |
496.885 |
587.298 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
669.678 |
793.397 |
798.481 |
|
|
|
Other Income |
3.890 |
1.908 |
0.678 |
|
|
|
TOTAL |
673.568 |
795.305 |
799.159 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed and goods traded |
446.986 |
529.361 |
|
|
|
|
Employee benefits expenses |
141.346 |
135.120 |
|
|
|
|
Other expenses |
64.949 |
87.442 |
|
|
|
|
Exceptional Items |
(0.193) |
(5.035) |
|
|
|
|
TOTAL |
653.088 |
746.888 |
709.579 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
20.480 |
48.417 |
89.580 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
12.513 |
15.830 |
15.852 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
7.967 |
32.587 |
73.728 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.766 |
7.142 |
6.316 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1.201 |
25.445 |
67.412 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.399 |
23.545 |
24.662 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(1.198) |
1.900 |
42.750 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(2.22) |
(35.19) |
79.16 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
700.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs. 800.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
(0.17)
|
0.24 |
5.35 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
3.06
|
6.10 |
11.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.24
|
5.13 |
11.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.23 |
0.67 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.70
|
1.75 |
1.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.36 |
1.28 |
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 |
18.401 |
5.401 |
5.401 |
|
Reserves & Surplus |
82.004 |
104.391 |
103.193 |
|
Net
worth |
100.405 |
109.792 |
108.594 |
|
|
|
|
|
|
long-term borrowings |
64.297 |
59.703 |
57.711 |
|
Short term borrowings |
99.984 |
132.871 |
127.254 |
|
Total
borrowings |
164.281 |
192.574 |
184.965 |
|
Debt/Equity
ratio |
1.636 |
1.754 |
1.703 |
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 |
798.481 |
793.397 |
669.678 |
|
|
|
-0.637 |
-15.594 |
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 |
798.481 |
793.397 |
669.678 |
|
Profit |
42.750 |
1.900 |
-1.198 |
|
|
5.35% |
0.24% |
-0.18% |
LOCAL AGENCY FURTHER INFORMATION
NOTE: CURRENT
MATURITIES OF LONG TERM DEBTS IS NOT AVAILABLE
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
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 |
No |
|
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 |
LITIGATION DETAILS
|
HIGH COURT OF GUJARAT STAMP NUMBER 2171 of 2012 |
||||||||||||||||||
|
Status: PENDING
CCIN No: 00108720120171 Listing Date: Coram: - |
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|
S.NO. |
Name of the
Petitioner |
Advocate On
Record |
||||||||||||||||
|
1 |
STATE OF GUJARAT |
GOVERNMENT PLEADER for: null |
||||||||||||||||
|
S.NO. |
Name of the
Respondant |
Advocate On
Record |
||||||||||||||||
|
1 |
INTELLICON PRIVATE LIMITED |
|
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|
Presented On : : 15/10/2012 Registered
On : 15/01/2012 Bench Category : DIVISION BENCH District : GANDHINAGAR Case Originated From : THROUGH HIS/HER/ THEIR
ADVOCATE Listed : 0 times Stage Name : URGNENT
ADMISSION (FRESH MATTERS)
OFFICE DETAILS
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INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10173087 |
29/09/2011 * |
280,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
B22617542 |
* Date of charge modification
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 records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.68 |
|
|
1 |
Rs. 93.53 |
|
Euro |
1 |
Rs. 70.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.