|
|
|
MIRA INFORM REPORT
|
Report No. : |
488667 |
|
Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
TARAASHNA SERVICES LIMITED [w.e.f. 12.05.2017] |
|
|
|
|
Formerly Known
As : |
TARAASHNA SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
504, 5th Floor, Kundan Bhawan, Azadpur Commercial Complex,
Azadpur, New Delhi-110033 |
|
Tel. No.: |
91-11-42048031 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
22.05.2012 |
|
|
|
|
Com. Reg. No.: |
55-236314 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 90.827 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140DL2012PLC236314 |
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|
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IEC No.: |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECT2517J |
|
|
|
|
GST No.: |
07AAECT2517J1ZC |
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|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the Business Correspondent ("BC") activity with various banks / NBFCs. Business correspondents are the intermediaries on behalf of banks / NBFCs for financial inclusion .The BC's prime activities as per Reserve Bank of India are facilitation of deposits and loan on behalf of banks / NBFCs and creating awareness about the various banking services among the masses and at the places where banking has not have its penetration. [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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2012. It is a subsidiary of Satin Creditcare Network Limited, India. The company operates as a Business Correspondent (BC) partner of major banks and financial institutions in India. It facilitates access to finance by providing credit, micro- insurance and saving facilities to the unbanked clients in India. For the financial year ended 2017, the revenue of the company has significantly increased by 25.17% along with average profitability margin of 2.55%. The overall financial position of the company seems to be satisfactory marked by adequate net worth base along with low debt balance sheet profile and average liquidity position. Business is active. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
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
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 09.02.2018
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
MANAGEMENT NON-COOPERATIVE [91-11-42048031]
LOCATIONS
|
Registered Office : |
504, 5th Floor, Kundan Bhawan, Azadpur Commercial Complex,
Azadpur, New Delhi-110033, India |
|
Tel. No.: |
91-11-42048031 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
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|
|
|
Corporate
Office: |
Ground Floor, Building # 97, Sector – 44, Gurugram-122003, Haryana, India |
|
|
|
|
Regional Offices: |
· 102, 1st Floor, Ujwal Complex, South Wing, Opposite Shrenik Park, B/s. Akota Stadium, Near Gaay Circle, Baroda-390020, Gujarat, India · Ground and First Floor, Chandrahar Place,C-14, Abhianta Nagar, Opposite Ashiyana Phase-1, PO Ashiyana Nagar, Patna– 800 025, Bihar, India · Plot No 81, 3rd Floor, Above IIFL, MP Nagar Zone 2, Bhopal-462011, Madhya Pradesh, India · K-2 (Near Devinagar Govt Dispensary), Laxman Path, Shyam Nagar, Sodala, Jaipur- 302019, Rajasthan, India · 617/618/619, 6th Floor, The Pentagon, Off Pune-Satara Road, Shahu College Road, Parvati, Pune– 411 009, Maharashtra , India · First Floor, Plot No.-84, Scheme No.-53, Near BSNL Office, Rasoma Square, Khajrana, Indore– 452 010, Madhya Pradesh, India · 1st Floor, Hemkund Petrol Pump, Opposite Bhupindra Plaza, Sirhind Road, Patiala– 147001, Punjab, India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Anureet Singh HP |
|||||||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
14A, Tower 1, The Hibiscus Near Baani Square, Sector 50,
Gurugram-122001, Haryana, India |
|||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.02.1965 |
|||||||||||||||||||||||||||||||
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Qualification : |
Graduate |
|||||||||||||||||||||||||||||||
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Date of Appointment : |
22.05.2012 |
|||||||||||||||||||||||||||||||
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PAN No.: |
AODPS9138N |
|||||||||||||||||||||||||||||||
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DIN No.: |
00332588 |
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|
|||||||||||||||||||||||||||||||
|
Name : |
Mr. Rakesh Sachdeva |
|||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||
|
Address : |
4111 ATS One Hamlet , Sector- 104 , Noida Gautam Budh Nagar - 201304 Noida - 201304, Uttar Pradesh, India |
|||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.03.1958 |
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Date of Appointment : |
04.01.2017 |
|||||||||||||||||||||||||||||||
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PAN No.: |
ACRPS8188A |
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DIN No.: |
00333715 |
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||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||
|
Name : |
Mr. Harvinder Pal Singh |
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|
Designation : |
Director |
|||||||||||||||||||||||||||||||
|
Address : |
14A, Tower 1, The Hibiscus Near Baani Square, Sector 50,
Gurugram-122001, Haryana, India |
|||||||||||||||||||||||||||||||
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Date of Birth/Age : |
24.12.1960 |
|||||||||||||||||||||||||||||||
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Qualification : |
Law Graduate |
|||||||||||||||||||||||||||||||
|
Date of Appointment : |
26.05.2014 |
|||||||||||||||||||||||||||||||
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PAN No.: |
AATPS4070P |
|||||||||||||||||||||||||||||||
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DIN No.: |
00333754 |
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||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||
|
Name : |
Mr. Sanjay Kumar Bhatia |
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|
Designation : |
Director |
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|
Address : |
1414, Dr. Mukherjee Nagar, Delhi-110009, India |
|||||||||||||||||||||||||||||||
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Date of Birth/Age : |
23.09.1964 |
|||||||||||||||||||||||||||||||
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Date of Appointment : |
04.01.2017 |
|||||||||||||||||||||||||||||||
|
PAN No.: |
AAHPB8915E |
|||||||||||||||||||||||||||||||
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DIN No.: |
07033027 |
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||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Prashant Sharma |
|
Designation : |
Company Secretary |
|
Address : |
Block A/1, H. No. 47, Street No. 1, Bengali Colony, Sant Nagar, Burari, Delhi 110084, India |
|
Date of Birth/Age : |
19.10.1963 |
|
Date of Appointment : |
09.02.2015 |
|
PAN No.: |
CNEPS3525B |
|
|
|
|
Name : |
Mr. Sanjeev Vij |
|
Designation : |
Chief Executive Officer |
|
Address : |
House No. 26, 2nd Floor, Sandesh Vihar, Pitampura, Delhi-110034, India |
|
Date of Appointment : |
05.11.2015 |
|
PAN No.: |
AAAPV0311R |
|
|
|
|
Name : |
Mr. Abhay Thakkar |
|
Designation : |
Chief Finance Officer |
|
Address : |
A-163, Second Floor, Surya Nagar, Ghaziabad-201011, Uttar Pradesh, India |
|
Date of Appointment : |
11.08.2017 |
|
PAN No.: |
AJJPT4791R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Satin Creditcare Network Limited |
|
7977234 |
|
Amit Gupta* |
|
01 |
|
Tahir Zafar* |
|
01 |
|
Kuldeep Singh Yadav* |
|
01 |
|
Shirish Chandra Panda* |
|
01 |
|
Bhupinder Pal Singh * |
|
01 |
|
MV Mauritius Limited |
|
1105493 |
|
|
|
|
|
Total |
|
9082732 |
*Beneficial Interest in the said shares have been transferred to Satin
Creditcare Network Limited
AS ON: 29.07.2017
|
Names of Allottee |
|
No. of Shares |
|
Satin Creditcare Network Limited |
|
1958589 |
|
|
|
|
|
Total |
|
1958589 |
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Body Corporate |
87.83 |
|
Public/Other than promoters - Body Corporate |
12.17 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the Business Correspondent ("BC") activity with various banks / NBFCs. Business correspondents are the intermediaries on behalf of banks / NBFCs for financial inclusion .The BC's prime activities as per Reserve Bank of India are facilitation of deposits and loan on behalf of banks / NBFCs and creating awareness about the various banking services among the masses and at the places where banking has not have its penetration. [Registered Activity] |
||||
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Products : |
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||||
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||||
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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||||
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Exports : |
Not Divulged |
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||||
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Imports : |
Not Divulged |
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|
||||
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Terms : |
|
||||
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Selling : |
Not Divulged |
||||
|
|
|
||||
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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|
|||||||||||||||
|
Customers : |
|
|||||||||||||||
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|
|||||||||||||||
|
No. of Employees : |
Not Divulged |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· DCB Bank Limited A-Set House, III Floor, 7/56, Desh Bandhu Gupta Road, Karol Bagh, New Delhi – 110005, India · Kotak Mahindra Prime Limited 27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra, India · RBL Bank Limited |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Rajeev Bhatia and Associates Chartered Accountants |
|
Address : |
1410, Ground Floor, Mukharji Nagar, Delhi, India |
|
PAN No.: |
AAGPB2158N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Related Parties: : |
· Satin Creditcare Network Limited [L65991DL1990PLC041796] ·
Niryas Food Products Private Limited |
CAPITAL STRUCTURE
AFTER: 24.06.2017
Authorised Capital : INR 200.000 Million
Issued, Subscribed & Paid-up Capital : INR 124.403
Million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9082732 |
Equity Shares |
INR 10/- each |
INR 90.827
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
90.827 |
90.827 |
76.542 |
|
(b) Reserves and Surplus |
96.511 |
86.299 |
45.606 |
|
(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) |
187.338 |
177.126 |
122.148 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
32.090 |
9.794 |
11.315 |
|
(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 |
9.605 |
6.305 |
2.130 |
|
Total Non-current
Liabilities (3) |
41.695 |
16.099 |
13.445 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
23.658 |
13.295 |
0.000 |
|
(b) Trade
payables |
111.902 |
100.834 |
88.398 |
|
(c) Other
current liabilities |
82.175 |
72.309 |
35.340 |
|
(d) Short-term
provisions |
2.395 |
0.411 |
0.120 |
|
Total Current
Liabilities (4) |
220.130 |
186.849 |
123.858 |
|
|
|
|
|
|
TOTAL |
449.163 |
380.074 |
259.451 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
11.568 |
9.704 |
5.532 |
|
(ii)
Intangible Assets |
1.220 |
0.612 |
0.435 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
1.915 |
|
(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) |
3.767 |
1.986 |
1.091 |
|
(d)
Long-term loans and advances |
3.052 |
2.585 |
0.977 |
|
(e) Other
Non-current assets |
84.126 |
21.028 |
46.959 |
|
Total Non-Current
Assets |
103.733 |
35.915 |
56.909 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
59.879 |
40.814 |
0.000 |
|
(d) Cash and
bank balances |
218.286 |
253.795 |
152.772 |
|
(e) Short-term
loans and advances |
57.379 |
38.947 |
9.152 |
|
(f) Other
current assets |
9.886 |
10.603 |
40.618 |
|
Total
Current Assets |
345.430 |
344.159 |
202.542 |
|
|
|
|
|
|
TOTAL |
449.163 |
380.074 |
259.451 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
400.631 |
320.082 |
212.067 |
|
|
Other Income |
4.195 |
2.566 |
3.531 |
|
|
TOTAL |
404.826 |
322.648 |
215.598 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employee benefit expense |
241.011 |
178.465 |
71.981 |
|
|
CSR expenditure |
2.350 |
0.000 |
0.000 |
|
|
Other expenses |
128.076 |
122.716 |
103.849 |
|
|
Exceptional items before tax |
0.000 |
0.380 |
0.568 |
|
|
TOTAL |
371.437 |
301.561 |
176.398 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
33.389 |
21.087 |
39.200 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
9.931 |
9.713 |
1.332 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
23.458 |
11.374 |
37.868 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.773 |
3.924 |
2.164 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
16.685 |
7.450 |
35.704 |
|
|
|
|
|
|
|
Less |
TAX |
6.473 |
2.202 |
11.340 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
10.212 |
5.248 |
24.364 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.12 |
0.62 |
3.54 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(43.926) |
21.041 |
(91.332) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(52.179) |
17.943 |
(103.221) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
54.55 |
46.54 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.69 |
7.84 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
2.61 |
2.04 |
4.97 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.56 |
0.52 |
0.52 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.30 |
0.13 |
0.09 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.18 |
1.05 |
1.01 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.07 |
0.06 |
0.06 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.36 |
2.17 |
29.43 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.55 |
1.64 |
11.49 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.27 |
1.38 |
9.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.45 |
2.96 |
19.95 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.57 |
1.84 |
1.64 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
1.57 |
1.84 |
1.64 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.42 |
0.47 |
0.47 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.61 |
0.25 |
0.15 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.57 |
1.84 |
1.64 |
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
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
76.542 |
90.827 |
90.827 |
|
Reserves & Surplus |
45.606 |
86.299 |
96.511 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
122.148 |
177.126 |
187.338 |
|
|
|
|
|
|
long-term borrowings |
11.315 |
9.794 |
32.090 |
|
Short term borrowings |
0.000 |
13.295 |
23.658 |
|
Total
borrowings |
11.315 |
23.089 |
55.748 |
|
Debt/Equity
ratio |
0.093 |
0.130 |
0.298 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
212.067 |
320.082 |
400.631 |
|
|
|
50.934 |
25.165 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
212.067 |
320.082 |
400.631 |
|
Profit/ (Loss) |
24.364 |
5.248 |
10.212 |
|
|
11.49
% |
1.64
% |
2.55
% |
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 |
Yes |
|
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 |
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 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
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G22710750 |
10621939 |
DCB BANK LIMITED |
11/02/2016 |
11/11/2016 |
- |
20000000.0 |
A-SET HOUSE, III FLOOR7/56, DESH BANDHU GUPTA ROAD, KAROL BAGHNEW DELHIDL110005IN |
|
2 |
C46860383 |
10555399 |
KOTAK MAHINDRA PRIME LIMITED |
17/02/2015 |
- |
- |
1209000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMH400051IN |
|
3 |
G51673838 |
10582563 |
RBL BANK LIMITED |
10/07/2015 |
31/08/2016 |
07/08/2017 |
25000000.0 |
SHAHUPURI,KOLHAPUR,KOLHAPURMA416001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Working capital loans from banks |
32.090 |
9.383 |
|
Loans repayable on demand |
0.000 |
0.411 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
0.013 |
0.000 |
|
|
|
|
|
Total |
32.103 |
9.794 |
GENERAL INFORMATION
Subject ("The Company") is a public limited company incorporated under the provision of the Companies Act, 1956, existing company within the purview of Companies Act, 2013.
The constitution of company has been converted from "Private Limited" to "Public Limited" vide ROC Certificate SRN G42423050 dated 12thMay'2017 and henceforth name of the said company from 12thMay'2017 has been changed to "Taraashna Services Limited".
The Company is engaged in the Business Correspondent ("BC") activity with various banks / NBFCs. Business correspondents are the intermediaries on behalf of banks / NBFCs for financial inclusion .The BC's prime activities as per Reserve Bank of India are facilitation of deposits and loan on behalf of banks / NBFCs and creating awareness about the various banking services among the masses and at the places where banking has not have its penetration. The Company executed agreements with Yes Bank Limited, Ratnakar Bank Limited, DCB Bank Limited, Reliance Capital Limited, IndusInd Bank Limited and IFMR to work as BC / Service Provider. The Company was registered on 22ndMay 2012 and started its operation in June 2012. The Company is presently operating in the states of Rajasthan, Madhya Pradesh, Gujarat, Maharashtra, Punjab, Uttar Pradesh, Chhattisgarh and Bihar.
OPERATIONS:
The company is engaged in Business Correspondent activity and the Company has achieved a gross turnover of INR 4,04.827 million during the year mainly from this(Only one activity) activity (against total gross turnover of INR 3,22.648 million during previous year) showing a growth of 25.47%. The Company has achieved a net profit before tax of INR 16.685 million (previous year net profit before tax INR 7.450 million). The Company is looking for various business opportunities and is hopeful of getting some ventures and assignments this year and achieving good results.
During the year the Company has entered into the Business Correspondent agreement with Indusind Bank Ltd. and SBI dated June 03, 2016 and February 10, 2017 respectively and added two new states i.e. Punjab and Uttar Pradesh under its ambit.
The
present operations of the Company are spread across 8 states which
includesBihar, Chhattisgarh, Gujrat, Madhya Pradesh, Maharashtra, Uttar Pradesh,
Punjab and Rajasthan. The details of state wise asset under management during
the year ended 2016-17 and 2015-16 is as below.
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
· Office equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 64.16 |
|
UK Pound |
1 |
INR 89.19 |
|
Euro |
1 |
INR 78.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
RUP |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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.