MIRA INFORM REPORT
|
Report No. : |
331402 |
|
Report Date : |
13.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
MICROLINE ELECTRONICS PRIVATE LIMITED |
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Registered
Office : |
2931/1, Vidyanagar (East) Davangere - 577005, Karnataka |
|
Tel. No.: |
91-80-41506768/ 8192-260306 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
18.07.1994 |
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Com. Reg. No.: |
08-015939 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.400 Million |
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CIN No.: [Company Identification
No.] |
U52334KA1994PTC015939 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealers, Sellers, Buyers, Purchases, Distributors, Agents, Importers, Exporters
of Electronics goods, computers, computers peripherals, Computer Accessories,
Power Conditioners, Computers
Consumables, Computer Furniture, Communication Equipments, BIO-
Medical Equipments, Medical Equipments, BIO Medical Consumables, Repairs and
Services. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
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Payment Behavior : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. Its scale of activities are
limited. Management of the company has failed to file its latest financial for
the year 2014 with the Government Department. It is classified as Indian Non- Government Company and is registered
at Registrar of Companies, Karnataka. Its authorized share capital is Rs.
0.500 Million and its paid up capital is Rs. 0.400 Million. As per available financial of 2013, the rating takes into
consideration company’s modest net worth and small scale of operations. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company 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.
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
31-03-2013.
INFORMATION DECLINED
Management non Co-Operative
(91-9980551019/ 80-41506768/ 9192-260306)
LOCATIONS
|
Registered Office/ Service Centre : |
2931/1, Vidyanagar (East) Davangere - 577005, Karnataka, India |
|
Tel. No.: |
91-80-41506768/ 8192-260306 |
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Mobile No.: |
91-9980551019 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Sales and Distribution Center : |
No. No. 373, 4th Main, P J Extension, Davangere – 577002,
Karnataka, India |
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Tel. No.: |
91-8192-272251 |
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|
|
|
Corporate Office : |
Ground floor, Brigade MM, K R Road, Bangalore – 560082, Karnataka,
India |
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Tel. No.: |
91-80-41506768 |
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E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Abdul Wajid Mehboob |
|
Designation : |
Director |
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Address : |
H.No.11, Makan Compound, Arm Strong Road, Shivaji Nagar, Bangalore, 560001, Karnataka, India |
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Date of Birth/Age : |
08.09.1940 |
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Date of Appointment : |
18.07.1994 |
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DIN No.: |
00811126 |
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|
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Name : |
Sultana Abdul Wajid |
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Designation : |
Director |
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Address : |
Rahath,1637/4, Vidyanagareast, Davanagere - 577005, Karnataka, India |
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Date of Birth/Age : |
07.07.1950 |
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Date of Appointment : |
18.07.1994 |
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DIN No.: |
00917669 |
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|
|
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Name : |
Mahaboob Mansoor Ahmed |
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Designation : |
Director |
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Address : |
No.1637/4, Vidyanagar East, Davanagere - 577005, Karnataka, India |
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Date of Birth/Age : |
05.04.1964 |
|
Date of Appointment : |
18.07.1994 |
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DIN No.: |
00810629 |
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|
|
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Name : |
Iqbal Mohiuddin Mahaboob |
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Designation : |
Director |
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Address : |
1637/4, Near Canara Bank, Vidyanagar, Davanagere - 577005, Karnataka, India |
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Date of Birth/Age : |
12.09.1960 |
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Date of Appointment : |
18.07.1994 |
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DIN No.: |
00810693 |
KEY EXECUTIVES
|
Name : |
M R Gopinath |
|
Designation : |
Company Secretary |
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Address : |
Rukmini, I Floor, 252/B, 2nd C Main, Girinagar I Phase, Bangalore –85, Karnataka, India |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Abdul Wajid Mehboob |
1000 |
25.00 |
|
Sultana Abdul Wajid |
1000 |
25.00 |
|
Iqbal Mohiuddin Mahaboob |
1000 |
25.00 |
|
Mahaboob Mansoor Ahmed |
1000 |
25.00 |
|
Total |
4000 |
100.00 |
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 : |
Dealers, Sellers, Buyers, Purchases, Distributors, Agents, Importers,
Exporters of Electronics goods, computers, computers peripherals, Computer
Accessories, Power Conditioners, Computers
Consumables, Computer Furniture, Communication Equipments, BIO-
Medical Equipments, Medical Equipments, BIO Medical Consumables, Repairs and
Services. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Nabhiraj Vijay and Company Chartered Accountants |
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Address : |
No. 255, 4TH Main, P.J. Extension, Davanagere – 577002,
Karnataka, India |
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Tel. No.: |
91-8192-258554/ 8192-220591 |
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Mobile No.: |
91-94480-58554 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ADQPK0402R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
4000 |
Equity Shares |
Rs.100/- each |
Rs.0.400 Million |
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ABRIDGED
BALANCE SHEET
FINANCIAL DATA
[all figures are
in Rupees Million]
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.400 |
0.400 |
0.400 |
|
(b) Reserves & Surplus |
3.061 |
2.622 |
2.049 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
3.461 |
3.022 |
2.449 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
4.514 |
7.144 |
16.665 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
4.514 |
7.144 |
16.665 |
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(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
17.051 |
18.592 |
2.955 |
|
(c) Other
current liabilities |
2.814 |
2.912 |
1.751 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
19.865 |
21.504 |
4.706 |
|
|
|
|
|
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TOTAL |
27.840 |
31.670 |
23.820 |
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II.
ASSETS |
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|
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(1)
Non-current assets |
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|
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|
(a) Fixed
Assets |
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|
|
|
(i)
Tangible assets |
1.026 |
1.179 |
1.724 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.765 |
0.516 |
0.466 |
|
(c) Deferred tax assets (net) |
0.280 |
0.273 |
0.239 |
|
(d) Long-term Loan and Advances |
3.064 |
6.044 |
5.648 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
5.135 |
8.012 |
8.077 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
6.401 |
3.107 |
4.407 |
|
(c) Trade
receivables |
16.188 |
20.213 |
11.135 |
|
(d) Cash
and cash equivalents |
0.116 |
0.338 |
0.140 |
|
(e) Short-term
loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.061 |
|
Total
Current Assets |
22.705 |
23.658 |
15.743 |
|
|
|
|
|
|
TOTAL |
27.840 |
31.670 |
23.820 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
49.385 |
46.519 |
NA |
|
|
|
|
|
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|
Less |
TOTAL EXPENSES |
48.288 |
45.694 |
NA |
|
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|
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|
PROFIT BEFORE
TAX |
1.097 |
0.825 |
NA |
|
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PROFIT AFTER TAX
|
0.654 |
0.573 |
NA |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
274.25 |
206.25 |
NA |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
1.32 |
1.23 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.09 |
2.67 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32 |
0.27 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.30 |
2.36 |
6.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14 |
1.10 |
3.35 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
0.400 |
0.400 |
0.400 |
|
Reserves & Surplus |
2.049 |
2.622 |
3.061 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
2.449 |
3.022 |
3.461 |
|
|
|
|
|
|
long-term borrowings |
16.665 |
7.144 |
4.514 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
16.665 |
7.144 |
4.514 |
|
Debt/Equity ratio |
6.805 |
2.364 |
1.304 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
46.519 |
49.385 |
|
|
--- |
6.161 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
46.519 |
49.385 |
|
Profit |
0.573 |
0.654 |
|
|
1.23% |
1.32% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FUTURE PROSPECTS :
The company is in the process if improving the
activities of the company in the future.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2013 (Rs.
in Million) |
31.03.2012 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Advance from Director |
1.562 |
1.512 |
|
Total |
1.562 |
1.512 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10080579 |
30/03/2011 * |
7,000,000 |
THE FEDERAL BANK LIMITED |
K M PLAZA, KANAKAPURA MAIN ROAD, 7TH BLOCK, JAYANAGAR, BANGALORE, Karnataka - 560082, INDIA |
B11833894 |
FIXED ASSETS
- Computer
Service Centre
- Computer
System
- Computer
Software
- Tools and
Equipments
- Portable
Generators
- Office Furniture
and Equipments
- Furniture
Software Centre
- Furniture
Sale Point
- Motor Van
Maruti
- Motor
Vehicles
- Cycle
- Scooter
- Electrical
Fittings
- Xerox Machine
- Hyundai Verna
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.63.37 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRE |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
DDD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
NO |
|
--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 |
|
28 |
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
unfavorable 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.