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|
%20PRIVATE%20LIMITED%20-%20489132%2003-Feb-2018_files/image015.jpg){kind=small}
%20PRIVATE%20LIMITED%20-%20489132%2003-Feb-2018_files/image016.jpg)
%20PRIVATE%20LIMITED%20-%20489132%2003-Feb-2018_files/image018.gif)
MIRA INFORM REPORT
|
Report No. : |
489132 |
|
Report Date : |
03.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
CHRISTIE DIGITAL SYSTEMS (INDIA) PRIVATE LIMITED (w.e.f. 25.03.2013) |
|
|
|
|
Formerly Known
As : |
VR SOLUTIONS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Indiqube Alpha, A Wing, 2nd Floor, Plot No. 19/4 and 27,
Kadubeesanahalli Village, Varthur, Hobli, Bangalore – 560103, Karnataka |
|
Tel. No.: |
91-80-67089999 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
25.06.2010 |
|
|
|
|
Com. Reg. No.: |
08-054218 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 0.756
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200KA2010PTC054218 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRV10055D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCV3419J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of designing,
developing, delivery and support of hardware and software components required
in simulation and visualization products and to develop, process, import,
export and otherwise deal in audio, video and data transmission hardware and
software.
[Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of “Christie Digital Systems USA
Inc. USA”. It is an established company incorporated in the year 2010 having good
track records. Financials for the year 2017 are not available. As per available financials of 2016, the company has witnessed a
growth in its revenue and has achieved fair profit margin at 2.81% (approx.) The company possesses sound financial profile marked by healthy
networth base along with debt free balance sheet of the company. The rating also takes into consideration strong financial and
managerial support that company receives from its holding entity backed by
its well experienced management team. Trade relations are reported as fair. Business is active. Payments
terms are seems to be regular and as per commitment. In view of strong holding support and sound financial base, 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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 03.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
Management non-cooperative (Tel No.: 91-80-67089999)
LOCATIONS
|
Registered Office : |
Indiqube Alpha, A Wing, 2nd Floor, Plot No. 19/4 and 27,
Kadubeesanahalli Village, Varthur, Hobli, Bangalore – 560103, Karnataka,
India |
|
Tel. No.: |
91-80-67089999 |
|
Fax No.: |
91-80-67089950 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office: |
Unit No. S 30 & S 31, Lower Ground Floor, Creator Building,
Concourse International Technology Park, Whitefield Road, Bangalore-560066,
Karnataka, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. John Michael Kline |
||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||
|
Address : |
10 Rivage, Newport Coast, California, 92657, United States
of America |
||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
11.12.1950 |
||||||||||||||||||||||||||||||
|
Date of Appointment : |
26.09.2013 |
||||||||||||||||||||||||||||||
|
DIN No.: |
06433556 |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Name : |
Mr. Chirag Dilipkumar Shah |
||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||
|
Address : |
B/305-B, Simla House, Nepeansea Road, Mumbai - 400036,
Maharashtra, India |
||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
08.02.1981 |
||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2014 |
||||||||||||||||||||||||||||||
|
DIN No.: |
00554465 |
||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Name : |
Craig Michael Sholder |
||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||
|
Address : |
33962 Cape Cove Dana Point California 92629 US |
||||||||||||||||||||||||||||||
|
Date of Appointment : |
15.07.2016 |
||||||||||||||||||||||||||||||
|
DIN No.: |
07566275 |
||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS
As on 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Christie Digital Systems USA, Inc., USA |
|
75626 |
|
Christie Digital Systems, Inc., USA |
|
1 |
|
Total |
|
75627 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.03.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20489132%2003-Feb-2018_files/image020.gif)
BUSINESS DETAILS
|
Line of Business
: |
Subject is engaged in the business of designing,
developing, delivery and support of hardware and software components required
in simulation and visualization products and to develop, process, import,
export and otherwise deal in audio, video and data transmission hardware and
software.
[Registered Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates LLP Chartered Accountants |
|
Address : |
12th and 13th "UB City", Canberra Block, No 24, Vittal
Mallya Road, Bangalore-560001, Karnataka, India |
|
Tel. No.: |
91-80-67575000 |
|
Fax No.: |
91-80-22106000 |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9118A |
|
Membership No: |
213803 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Christie Digital Systems USA, Inc., USA Christie Digital Systems USA, Inc., USA – Liaison Office, India |
|
|
|
|
Holding Company of Christie Digital Systems USA, Inc) : |
Christie Digital Systems, Inc. |
|
|
|
|
Fellow Subsidiary Company : |
· Christie Digital Systems Canada Inc, Canada · Christie Digital Systems Canada Inc, Visto Branch, UK |
CAPITAL STRUCTURE
As on: 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
76000 |
Equity Shares |
INR 10/- each |
INR 0.760 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75627 |
Equity Shares |
INR 10/- each |
INR 0.756 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.756 |
0.756 |
0.756 |
|
(b) Reserves & Surplus |
28.305 |
22.351 |
22.697 |
|
(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) |
29.061 |
23.107 |
23.453 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
1.295 |
0.886 |
0.000 |
|
Total Non-current
Liabilities (3) |
1.295 |
0.886 |
0.000 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
247.307 |
152.265 |
230.079 |
|
(c) Other
current liabilities |
31.576 |
27.952 |
22.606 |
|
(d) Short-term
provisions |
5.604 |
11.071 |
1.916 |
|
Total Current
Liabilities (4) |
284.487 |
191.288 |
254.601 |
|
|
|
|
|
|
TOTAL |
314.843 |
215.281 |
278.054 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
26.674 |
0.750 |
0.094 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
9.516 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
8.427 |
8.123 |
0.000 |
|
(d) Long-term Loan and Advances |
12.925 |
7.283 |
1.097 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
57.542 |
16.156 |
1.191 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
109.178 |
60.712 |
12.580 |
|
(c) Trade
receivables |
31.922 |
13.448 |
65.202 |
|
(d) Cash
and cash equivalents |
100.935 |
118.234 |
196.605 |
|
(e) Short-term
loans and advances |
15.197 |
6.567 |
2.476 |
|
(f) Other
current assets |
0.069 |
0.164 |
0.000 |
|
Total
Current Assets |
257.301 |
199.125 |
276.863 |
|
|
|
|
|
|
TOTAL |
314.843 |
215.281 |
278.054 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
211.769 |
197.043 |
283.854 |
|
|
Other Income |
1.396 |
3.812 |
8.432 |
|
|
TOTAL |
213.165 |
200.855 |
292.286 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
144.046 |
126.105 |
236.803 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(48.466) |
(48.131) |
(12.580) |
|
|
Employees benefits
expense |
26.256 |
21.231 |
12.612 |
|
|
Prior Period |
3.058 |
5.467 |
0.000 |
|
|
Other expenses |
72.977 |
89.349 |
24.295 |
|
|
TOTAL |
197.871 |
194.021 |
261.130 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
15.294 |
6.834 |
31.156 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.021 |
0.737 |
0.034 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
15.273 |
6.097 |
31.122 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.981 |
0.218 |
0.014 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
10.292 |
5.879 |
31.108 |
|
|
|
|
|
|
|
Less |
TAX |
4.338 |
6.225 |
9.955 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
5.954 |
(0.346) |
21.153 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
22.351 |
22.697 |
1.544 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
28.305 |
22.351 |
22.697 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2.122 |
1.260 |
0.000 |
|
|
Sale of Services |
37.574 |
18.092 |
11.007 |
|
|
Insurance |
|
|
|
|
|
TOTAL EARNINGS |
39.696 |
19.352 |
11.007 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Purchase Trade Goods |
156.269 |
130.831 |
209.429 |
|
|
Transfer Pricing
Adjustment |
(54.120) |
(49.661) |
23.818 |
|
|
Capital Goods |
0.321 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
102.470 |
81.170 |
233.247 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
78.73 |
(4.58) |
279.70 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash Generated from/ (used in) Operations |
34.902 |
(75.160) |
202.570 |
|
|
|
|
|
|
Net Cash Flow from/ (used in) Operating Activities |
21.467 |
(81.145) |
194.539 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
55.02 |
24.91 |
83.84 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
6.63 |
14.65 |
4.35 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
626.65 |
440.72 |
354.64 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.14 |
0.11 |
2.48 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.42 |
9.11 |
331.45 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.90 |
0.89 |
0.92 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
9.79 |
8.28 |
10.86 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.25 |
0.03 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
728.29 |
9.27 |
916.35 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
2.81 |
(0.18) |
7.45 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.89 |
(0.16) |
7.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
20.49 |
(1.50) |
90.19 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.90 |
1.04 |
1.09 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.52 |
0.72 |
1.04 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.09 |
0.11 |
0.08 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.90 |
1.04 |
1.09 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are in
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
0.756 |
0.756 |
0.756 |
|
Reserves & Surplus |
22.697 |
22.351 |
28.305 |
|
Net
worth |
23.453 |
23.107 |
29.061 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
%20PRIVATE%20LIMITED%20-%20489132%2003-Feb-2018_files/image022.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
283.854 |
197.043 |
211.769 |
|
|
|
(30.583) |
7.473 |
%20PRIVATE%20LIMITED%20-%20489132%2003-Feb-2018_files/image024.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
283.854 |
197.043 |
211.769 |
|
Profit/ (Loss) |
21.153 |
(0.346) |
5.954 |
|
|
7.45% |
(0.18%) |
2.81% |
%20PRIVATE%20LIMITED%20-%20489132%2003-Feb-2018_files/image026.gif)
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 |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three 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 |
INDEX OF CHARGES: NO CHARGES
EXIST FOR COMPANY
Contingent
Liabilities:
Sales Tax related matter INR 15.746 million.
OPERATIONS:
The Company is in the business of designing, developing, delivery and support of hardware and software components required in simulation and visualization products and to develop, process, import, export and otherwise deal in audio, video and data transmission hardware and software.
CORPORATE
INFORMATION
The Company formerly VR Solutions (India) Private Limited which was
incorporated on 25 June 2010, under the Companies Act, 1956. The company is
engaged in the business of trading in and servicing of simulation and
visualization products. The company also provides technical support services in
form of post-services in form of post-sales support services to the customers
on behalf of its holding company.
FIXED ASSETS:
· Leasehold Improvement
· Furniture and Fixture
· Office Equipments
- Computers Equipments
- Computer
Accessories
- Computer
Software
CMT REPORT (Corruption, Money Laundering
& Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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
|
INR |
|
US Dollar |
1 |
INR 64.08 |
|
|
1 |
INR 91.34 |
|
Euro |
1 |
INR 80.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.