MIRA INFORM REPORT

 

 

Report No. :

490453

Report Date :

27.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

INTERTECH ELECTRO CONTROLS PRIVATE LIMITED

 

 

Registered Office :

No. 47, BVG House, II and III Floor, Millers Tank Bund Road, Vasantnagar, Bangalore – 560057, Karnataka

Tel. No.:

91-80-41417901

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

01.10.2013

 

 

Com. Reg. No.:

08-071240

 

 

Capital Investment / Paid-up Capital :

INR 0.100 Million

 

 

CIN No.:

[Company Identification No.]

U74900KA2013PTC071240

 

 

IEC No.:

[Import-Export Code No.]

Not Divulged

 

 

PAN No.:

[Permanent Account No.]

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Divulged

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trading and dealerships in electronic securities systems to meet specific requirements of industries and to deal in fire fighting and safety equipments, life saving devices, in industrial applications in India or elsewhere and to render after sale services. (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 :

C

 

Credit Rating

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Intertech Electro Controls Private Limited was incorporated in the year 2013.

 

Management has failed to file its financials with Registrar of Companies after FY 2014.

 

Mr. Madhu Chandra (Assistant General Manager) has denied to provide any information.

 

As per available financial records of 2014, the company has earned revenue of INR 21.420 million along with average profit margin of 4.27%

 

The moderate financial profile of the company is marked by modest networth base.

 

Rating is constrained on account of absence of latest financials.

 

However, rating weakness is partially offset by strong debt coverage indicators due to free debt balance sheet profile.

 

Payments seems to be unknown.

 

In view of aforesaid, the subject can be considered for business dealings on safe and secured terms.    

 

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

(30.09.2017)

Current Rating

(31.12.2017)

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 27.02.2018

 

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 BY

 

Name :

Mr. Kedar Kulkarni

Designation :

Accountant

Contact No.:

91-20-27464220

 

 

Name :

Mr. Madhu Chandra

Designation :

Assistant General Manager  

Contact No.:

91-7744081872

Date :

25.02.2018

 

 

LOCATIONS

 

Registered Office :

No. 47, BVG House, II and III Floor, Millers Tank Bund Road, Vasantnagar, Bangalore – 560057, Karnataka, India

Tel. No.:

91-80-41417901

Mobile No.:

91-7744081872 (Mr. Madhu Chandra)

Fax No.:

Not Available

E-Mail :

cs@bvgindia.com

info@bvgindia.com

madhu@bvgindia.com

kamalsinghare@bvgindia.com

 

 

DIRECTORS

 

As on 2018

 

Name :

Ms. Veena Pradeep Hulyalkar

Designation :

Director

Address :

007, 008, Sneha Apartments Vivekanand Colony Keshwapur Dharwad-580023, Karnataka, India 

Date of Birth/Age :

18.01.1975

Date of Appointment :

01.10.2013

DIN No.:

02017072

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U05190KA2002PTC031013

AANCHAL INTERACTIVE VIDEO SYSTEMS PRIVATE LIMITED

17/09/2002

-

 

 

Name :

Mr. Pradeep Vasant Hulyalkar

Designation :

Director

Address :

Sneha Apartments, Vivekanand Colony Keshwapur, Hubli-580023, Karnataka, India 

Date of Birth/Age :

23.01.1971

Date of Appointment :

01.10.2013

DIN No.:

02017116

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U05190KA2002PTC031013

AANCHAL INTERACTIVE VIDEO SYSTEMS PRIVATE LIMITED

17/09/2002

-

U31909KA2007PTC041624

VIGIL SOLUTIONS PRIVATE LIMITED

02/02/2007

-

U74920KA2006PTC040224

PROTEGO SOLUTIONS PRIVATE LIMITED

14/08/2006

-

 

 

Name :

Mr. Vikas Vyankat Nipane

Designation :

Director

Address :

A/P Alankar, Sect-28, Plot 237 Pradhikaran, Nigdi, Pune-411044, Maharashtra, India 

Date of Birth/Age :

24.11.1976

Date of Appointment :

26.11.2013

DIN No.:

03359189

Other Directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U63000MH2010PTC201671

SARVESHWAR LOGISTICS SERVICES PRIVATE LIMITED

01/06/2016

-

U45209PN2011PTC138623

VISHWARAJ BUILDERS & DEVELOPERS PRIVATE LIMITED

21/02/2011

-

U74900PN2012PTC142904

PROMIND PRODUCTIONS PRIVATE LIMITED

09/04/2012

-

U15100PN2012PTC143325

BVG HEALTH FOOD PRIVATE LIMITED

09/05/2012

-

U74900PN2012PTC144270

AADIARYA AVIATION SERVICES PRIVATE LIMITED

24/06/2015

-

U74900PN2012PTC144409

CFO FINANCIAL CONSULTANTS PRIVATE LIMITED

09/11/2015

-

U45200PN2013PTC147231

FRIENDSHIP POWER BUILDERS PRIVATE LIMITED

02/05/2013

-

U74900PN2011PTC141608

BVG SECURITY SERVICES PRIVATE LIMITED

29/09/2012

-

U15490PN2012PTC142334

SATARA MEGA FOOD PARK PRIVATE LIMITED

22/02/2012

-

 

 

Name :

Mr. Prasanna Shastri

Designation :

Director

Address :

Door No. 881, 22nd Cross, 14th Main, Judicial Layout, Bangalore-560065, Karnataka, India

Date of Birth/Age :

25.05.1976

Date of Appointment :

26.11.2013

DIN No.:

06746346

 

 

MAJOR SHAREHOLDERS

 

As on 30.09.2014

 

Names of Shareholders

No. of Shares

% of Holding

Pradeep Vasant Hulyalkar

5000

50.00

Veena Pradeep Hulyalkar

5000

50.00

Total

10000

100.00

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trading and dealerships in electronic securities systems to meet specific requirements of industries and to deal in fire fighting and safety equipments, life saving devices, in industrial applications in India or elsewhere and to render after sale services. (Registered Activity)

 

 

Products / Services :

Electronic Securities Systems

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

Banker Name :

Not Divulged

Branch :

--

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

Auditors :

 

Name :

BTN and Company

Chartered Accountants

Address :

Shop No 41A, Parmar Chambers, Sadhu Vaswani Chowk, Pune – 411001, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AALFB3657R

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :

·         Aanchal Interactive Video Systems Private Limited

·         TECSEC Technologies Private Limited

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

INR 10/- each

INR 0.100 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

INR 10/- each

INR 0.100 Million

 

 

 

 

 


 

FINANCIAL DATA

[all figures are INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2014

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

 

0.100

(b) Reserves & Surplus

 

 

0.910

(c) Money received against share warrants

 

 

0.000

 

 

 

 

(2) Share Application money pending allotment

 

 

0.000

Total Shareholders’ Funds (1) + (2)

 

 

1.010

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

 

0.000

(b) Deferred tax liabilities (Net)

 

 

0.000

(c) Other long term liabilities

 

 

0.000

(d) long-term provisions

 

 

0.000

Total Non-current Liabilities (3)

 

 

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

 

0.000

(b) Trade payables

 

 

19.362

(c) Other current liabilities

 

 

1.128

(d) Short-term provisions

 

 

0.000

Total Current Liabilities (4)

 

 

20.490

 

 

 

 

TOTAL

 

 

21.500

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

 

0.143

(ii) Intangible Assets

 

 

0.000

(iii) Capital work-in-progress

 

 

0.000

(iv) Intangible assets under development

 

 

0.000

(b) Non-current Investments

 

 

0.000

(c) Deferred tax assets (net)

 

 

0.000

(d)  Long-term Loan and Advances

 

 

0.000

(e) Other Non-current assets

 

 

0.000

Total Non-Current Assets

 

 

0.143

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

 

0.000

(b) Inventories

 

 

6.730

(c) Trade receivables

 

 

13.155

(d) Cash and cash equivalents

 

 

0.602

(e) Short-term loans and advances

 

 

0.611

(f) Other current assets

 

 

0.259

Total Current Assets

 

 

21.357

 

 

 

 

TOTAL

 

 

21.500

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

31.03.2014

 

SALES

 

 

 

 

Income

 

 

21.421

 

Other Income

 

 

0.000

 

TOTAL

 

 

21.421

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Purchases of Stock-in-Trade

 

 

18.295

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

 

(6.730)

 

Employees benefits expense

 

 

3.236

 

Administrative and Other expenses

 

 

5.253

 

TOTAL

 

 

20.054

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

 

1.367

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

 

0.012

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

 

1.355

 

 

 

 

 

Less

TAX

 

 

0.445

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

 

0.910

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

 

9.10

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

 

 

31.03.2014

Current Maturities of Long term debt

 

 

NA

Cash generated from operations

 

 

NA

Net cash flows from (used in) operations

 

 

NA

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

 

 

31.03.2014

Average Collection Days

(Sundry Debtors / Income * 365 Days)

 

 

224.15

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

 

 

1.63

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

 

 

386.29

 

LEVERAGE RATIOS

 

PARTICULARS

 

 

 

31.03.2014

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

 

 

0.95

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

 

 

0.00

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

 

 

20.29

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

 

 

0.14

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

 

 

31.03.2014

Net Profit Margin

((PAT / Sales) * 100)

%

 

 

4.25

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

 

 

4.23

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

 

 

90.10

 

SOLVENCY RATIOS

 

PARTICULARS

 

 

 

31.03.2014

Current Ratio

(Current Assets / Current Liabilities)

 

 

1.04

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

 

 

0.71

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

 

 

0.05

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

 

 

0.00

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

 

 

1.04

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

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

Yes

8]

Designation of contact person

Yes

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 about six months

Yes

27]

Reasons for variation <> 20%

--

28]

Estimation for coming financial year

No

29]

Profitability for last about six months

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

 

GENERAL INFORMATION (AS ON 31.03.2014)

 

The company is a company domiciled in India and incorporated under the provision of companies act, 1956. The company engaged in carry on the business of trading and dealership in electronics securities requirements of industries and deal in fire fighting and safety equipments, life saving devices and to render after sale services. The companies operations are limited to India i.e. caters to domestic market only.  

 

 

OPERATIONS

 

This was the first year of operations of the company, during the year the company won and operated 12 projects. Being, the first year of operations, the company operated on a limited scale and thus the margins in these contracts were on the lower side as the scale of operations of the company grows in the coming years, the company is confident of incasing its revenue margins and profitability.

 

 

INDEX OF CHARGES: NO CHARGES EXISTS FOR COMPANY 

 

 

 

 


 

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 64.82

UK Pound

1

INR 79.76

Euro

1

INR 90.40

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

VAR

 

 

Report Prepared by :

JYTK

 


 

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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

 
 

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