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MIRA INFORM REPORT
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Report No. : |
483913 |
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Report Date : |
11.01.2018 |
IDENTIFICATION DETAILS
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Name : |
XPRESS ELECTRICALS INDIA PRIVATE LIMITED |
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Registered
Office : |
5-2-277/2, Opposite Post Office, Hyderbasti, Secunderabad-500003,
Telangana |
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Mob. No.: |
91-9849552315 [Mr. Dominic John Paul] |
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Country : |
India |
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Financials (as
on) : |
Not Available |
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Date of
Incorporation : |
25.05.2016 |
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Com. Reg. No.: |
36-109868 |
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Capital
Investment / Paid-up Capital : |
INR 0.100 Million |
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CIN No.: [Company Identification
No.] |
U52335TG2016PTC109868 |
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IEC No.: |
Not Applicable (As informed by the management that firm does not have export and import) |
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GST No.: |
36AAACX2002L1ZJ |
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TIN No.: |
36124852839 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACX2002L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
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· Trader and Supplier of Switches like MCBT Lighting Products like Flood Light, Candle Lamp, Bulb and Accessories, Lamp holder, Dimmer, Socket, etc. [Confirmed by Management] · Subject is engaged in the business of online shopping, marketing of consumer and other goods, advertising and marketing, creating virtual malls, stores, shops, creating shopping catalogues, providing secured payment processing, net commerce solutions for business to business and business to consumers, online trading in and outside India but does not include banking and money circulating business. [As per Memorandum of Association] |
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No. of Employees
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12 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Xpress Electricals India Private Limited was incorporated in May 2016. It is a trader and supplier of Switches like MCBT Lighting products like
Flood Light, Candle Lamp, Bulb and Accessories. Management has failed to file its financials since its inception. Mr. Dominic John Paul (IT Department) has provided information about the
subject to us and claimed that concern had achieved sales INR 10 million for
the FY 2017 (which could not be verified). Rating is constrained on account of absence of latest financials. Payments are reported to be unknown. In view of aforesaid, the company can be considered for business
dealings on safe and secured 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
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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 11.01.2018.
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 PARTED BY
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Name : |
Mr. Dominic John Paul |
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Designation : |
IT Department |
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Contact No.: |
91-9849552315 |
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Date : |
09.01.2018 |
LOCATIONS
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Registered Office/ Warehouse : |
5-2-277/2, Opposite Post Office, Hyderbasti, Secunderabad-500003,
Telangana, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9849552315 [Mr. Dominic John Paul] |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
DIRECTORS
AS ON: 31.03.2017
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Name : |
Mr. Ram Mohan Rao Vemula |
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Designation : |
Director |
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Address : |
H.No.8-5-210/66&67, Flat No.201, Alopa Residency Shiva
Enclave, Near Dubai Gate, Secunderabad-500011, Andhra Pradesh, India |
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Date of Birth/Age : |
02.07.1973 |
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Qualification : |
Graduation/Bachelor/Equivalent |
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Date of Appointment : |
25.05.2016 |
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PAN No.: |
ABUPV0501A |
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DIN No.: |
03393457 |
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Name : |
Mr. Govardhana Mulpuru Rao |
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Designation : |
Director |
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Address : |
5-11-171, Plot No.348, Venkateswara Nagar Housing Board
Colony, Meerpet, Moulali, Hyderabad-500040, Telangana, India |
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Date of Birth/Age : |
01.07.1949 |
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Qualification : |
Graduation |
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Date of Appointment : |
25.05.2016 |
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PAN No.: |
AGMPM3034G |
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DIN No.: |
06971546 |
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KEY EXECUTIVES
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Name : |
Mr. Dominic John Paul |
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Designation : |
IT Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 26.03.2016
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Names of Shareholders |
No. of Shares |
Percentage of Holding |
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Govardhana Mulpuru Rao |
5000 |
50.00 |
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Ram Mohan Rao Vemula |
5000 |
50.00 |
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Total |
10000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
· Trader and Supplier of Switches like MCBT Lighting Products like Flood Light, Candle Lamp, Bulb and Accessories, Lamp holder, Dimmer, Socket, etc. [Confirmed by Management] · Subject is engaged in the business of online shopping, marketing of consumer and other goods, advertising and marketing, creating virtual malls, stores, shops, creating shopping catalogues, providing secured payment processing, net commerce solutions for business to business and business to consumers, online trading in and outside India but does not include banking and money circulating business. [As per Memorandum of Association] |
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Products/ Services : |
· Flood Light · Candle Lamp · Bulb and Accessories · Lamp holder · Dimmer ·
Socket, etc. |
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Brand Names : |
· Havells · HPL · LT · Philips · Polycab · Siemens, etc |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Imports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Terms : |
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Selling : |
Cash, Cheque and Credit |
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Purchasing : |
Cash, Cheque and Credit |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesaler and Retailers
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No. of Employees : |
12 (Approximately) |
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Bankers : |
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Facilities : |
--- |
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Auditors : |
Not Divulged |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
Authorised Capital : INR 10.000 Million
Issued, Subscribed & Paid-up Capital : INR 0.100
Million
FINANCIAL DATA
[all figures are
in INR Million]
NOT
DIVULGED
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PARTICULARS |
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31.03.2017 |
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Sales Turnover (Approximately) |
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10.000 |
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Expected Sales (2017-2018): INR 20.000 Million [Due to Business Growth]
The above information has been parted by Mr. Dominic John Paul (IT
Department)
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 |
No |
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5 |
Buyer visit details |
-- |
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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 |
Yes |
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10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
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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 |
Yes |
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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 |
Yes |
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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% |
Yes |
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28 |
Estimation for coming financial year |
Yes |
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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 |
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 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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INR |
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US Dollar |
1 |
INR 63.83 |
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UK Pound |
1 |
INR 86.28 |
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Euro |
1 |
INR 76.14 |
INFORMATION DETAILS
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Information
Gathered by : |
AKY |
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Analysis Done by
: |
VAR |
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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.