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MIRA
INFORM REPORT
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Report No. : |
489897 |
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Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
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Name : |
INCEPTION SOLUTIONS |
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Registered
Office : |
314, Picasso Plaza, NIBM Junction, Above Jyoti Restaurant,
Kondhwa, Pune-411048, Maharashtra |
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Tel No.: |
91-20-41210223 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Year of
Establishment : |
March, 2012 |
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Capital
Investment : |
Not Divulged |
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IEC No.: |
Not Divulged |
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GST No.: |
27AQZPS1514N1ZZ |
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TIN No.: |
27500899930 |
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PAN No.: [Permanent Account No.] |
AQZPS1514N |
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Legal Form : |
Sole Proprietary Concern [Confirmed by Management] |
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Line of Business
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Providing Services for software development, software licensing, IT infrastructure solutions, networking solutions, IT security solutions, availability and manageability hardware solutions. [From Indirect Sources] |
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No. of Employees
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11 to 25 [Approximately] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 14200 [INR 912279.00] |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Mr. Suheil Pyaruddin Sayyed (Proprietor) has only confirmed legal form but he denied to provide any information about the subject. As per indirect sources, we could find that the subject is a proprietorship concern established in the year 2012 and it is engaged in providing services for software development, software licensing, IT infrastructure solutions, networking solutions, IT security solutions, availability and manageability hardware solutions. Further, we could also find that the subject has achieved a sales turnover of INR 50 million in the FY 2017 but the figures are not verified. Rating takes into consideration the subject’s acceptable sales turnover profile. Payments seem to be slow but correct. In view of aforesaid, the subject can be considered for business dealings at usual trade terms and conditions. Note: Site visit was conducted at the given address which you have provided. Our executive has successfully traced the subject at the given address. At the premises, our executive met one of the executive from HR Department who denied to provide any information. As per our executive’s observation, it is a 5 storey building and subject situated at 3rd floor. Area of the premises is 1,000 SQ FT and 1 employee was sighted at the premises. Location was easy to find and locality seems to be commercial. Area seems to be neutral. Landmark- Jyoti Hotel. During the visit, our executive met neighbour companies (Negi Tutorial and Sabka Dentist) who confirmed that the subject exists on the given address and they gave positive response about the subject. Name board of the subject was sighted at the given address. |
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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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 08.02.2018.
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 DECLINED BY
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Name : |
Mr. Suheil Pyaruddin Sayyed |
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Designation : |
Proprietor |
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Contact No.: |
91-9890078674 |
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Date : |
07.02.2018 |
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-20-41210223]
LOCATIONS
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Registered Office : |
314, Picasso Plaza, NIBM Junction, Above Jyoti Restaurant,
Kondhwa, Pune-411048, Maharashtra, India |
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Tel. No.: |
91-20-41210223/ 41210227 |
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Mobile No.: |
91-9890078674 [Mr. Suheil Pyaruddin Sayyed] |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Area : |
1000 Sq. Ft. [As per site visit] |
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Locality : |
Commercial [As per site visit] |
SOLE PROPRIETOR [Confirmed by
Management]
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Name : |
Mr. Suheil Pyaruddin Sayyed |
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Designation : |
Proprietor |
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PAN No.: |
AQZPS1514N |
BUSINESS DETAILS
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Line of Business : |
Providing Services for software development, software licensing, IT infrastructure solutions, networking solutions, IT security solutions, availability and manageability hardware solutions. [From Indirect Sources] |
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Products/ Services : |
· Software Development · Software Licensing · IT Infrastructure Solutions · Networking Solutions · IT Security Solutions, etc |
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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 : [From Indirect Sources] |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
11 to 25 [Approximately] |
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Bankers : |
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Auditors : |
Not Divulged |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
Not Divulged |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
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PARTICULARS |
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31.03.2017 |
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Sales Turnover (Approximately) |
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50.000 |
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The above information has been taken from Indirect Sources
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
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Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
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1 |
Year of establishment |
Yes |
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2 |
Constitution of the entity -Incorporation
details |
Yes |
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3 |
Locality of the entity |
Yes |
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4 |
Premises details |
Yes |
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5 |
Buyer visit details |
Yes |
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6 |
Contact numbers |
Yes |
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7 |
Name of the person contacted |
Yes |
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8 |
Designation of contact person |
Yes |
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9 |
Promoter’s background |
No |
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10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
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11 |
Pan Card No. of Proprietor / Partners |
Yes |
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12 |
Voter Id Card No. of Proprietor / Partners |
No |
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13 |
Type of business |
Yes |
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14 |
Line of Business |
Yes |
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15 |
Export/import details (if applicable) |
No |
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16 |
No. of employees |
Yes |
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17 |
Details of sister concerns |
No |
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18 |
Major suppliers |
No |
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19 |
Major customers |
No |
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20 |
Banking Details |
No |
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21 |
Banking facility details |
No |
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22 |
Conduct of the banking account |
-- |
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23 |
Financials, if provided |
No |
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24 |
Capital in the business |
No |
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25 |
Last accounts filed at ROC, if applicable |
No |
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26 |
Turnover of firm for last one year |
Yes |
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27 |
Reasons for variation <> 20% |
-- |
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28 |
Estimation for coming financial year |
No |
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29 |
Profitability for last three years |
No |
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30 |
Major shareholders, if available |
No |
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31 |
External Agency Rating, if available |
No |
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32 |
Litigations that the firm/promoter
involved in |
-- |
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33 |
Market information |
-- |
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34 |
Payments terms |
Yes |
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35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OBSERVATION POINTS
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Name of Company : |
INCEPTION SOLUTIONS |
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Address : |
314, Picasso Plaza, NIBM Junction, Above Jyoti Restaurant,
Kondhwa, Pune-411048, Maharashtra, India |
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Date of Visit : |
05.02.2018 |
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Name Board : |
Sighted |
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Location: |
Easy |
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Landmark (If Any): |
Jyoti Hotel |
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Total Floors of the Building : |
5 Floors |
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Subject situated on: |
3rd Floor |
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Locality: |
Commercial |
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Area of Premises : |
1000 Sq. Ft. |
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Area : |
Neutral |
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No. of employees seen at premises: |
01 [Approx.] |
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Visibility of
Items: |
·
Telephone ·
Computers ·
Air Conditioner ·
Office Equipment |
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Furniture Items
Sighted : |
Chair |
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Neighbours Interview : |
During the visit, our executive met neighbour companies (Negi Tutorial and Sabka Dentist) who confirmed that the subject exists on the given address and they gave positive response about the subject. |
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Proof of visit: |
Photos |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.14 |
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1 |
INR 89.50 |
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Euro |
1 |
INR 79.43 |
INFORMATION DETAILS
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Information
Gathered by : |
SUP |
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Analysis Done by
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VIV |
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Report Prepared
by : |
IND |
SCORE FACTORS
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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.