MIRA INFORM REPORT

3decades

MIRA INFORM REPORT

Report No. :	497279.2
Report Date :	29.03.2018

IDENTIFICATION DETAILS

Name :	ASHWINI ELECTRONICS

Registered Office :	No.36/A-2, 17th Main, 11th Cross, Muneshwara Block, New Timber Yard Layout, II Stage, Bangalore – 560026, Karnataka
Tel. No.:	91-80-26750322

Country :	India

Financials (as on) :	31.03.2017

Year of Establishment:	1994

Capital Investment / Paid-up Capital :	Not Divulged

TIN No.:	Not Available

IEC No.: [Import-Export Code No.]	Not Divulged

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

GSTN : [Goods & Service Tax Registration No.]	29AAUPN1255E1ZF

PAN No.: [Permanent Account No.]	AAUPN1255E

Legal Form :	Sole Proprietary Concern

Line of Business :	Dealer of Security Alarm System, Fire Detection and Alarm System, CCTVS, Access Control System, etc. (Confirmed by management)

No. of Employees :	25 (Approximately)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Maximum Credit Limit :	USD 5700 (INR 3,71,440.50)

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is a proprietorship concern established in the year 1994. It is a dealer of security alarm system, fire detection and alarm system, CCTV, etc. Mr. Nagabhushana (Proprietor) gave general information but denied to provide any information about the subject to us. As per our indirect sources, subject has achieved revenue of INR 20.000 Million for the FY 2017. Payment seems to be slow but correct. In view of aforesaid, the concern can be considered for business dealings with some caution. Note: Site visit was conducted at the address which you have provided. Our executive has successfully traced the subject on the given address. At the premises, our executive met, Mr. Vardhan (Senior Executive who provided contact number – 7795292489.) Further, our executive enquired with Mr. Muralidhar and Mr. Praveen (Sai Ram Computers) and they claimed that the subject is situated on the given address. As per our executive’s observation, it is a 3 storey building and subject is situated on 3^rd Floor. Area of premises seems to be 4000 sq. ft. and number of employees sighted at the premises were 6. Locality seems to be commercial and area appears to be neutral. Location was easy to find and we have sighted subject’s name board.

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

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 29.03.2018

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 (GENERAL INFORMATION)

Name :	Mr. Gandikote Ramanna Nagabhushana
Designation :	Proprietor
Contact No.:	91-7975709154
Date :	10.03.2018

LOCATIONS

Registered Office :	No.36/A-2, 17th Main, 11th Cross, Muneshwara Block, New Timber Yard Layout, II Stage, Bangalore – 560026, Karnataka, India
Tel. No.:	91-80-26750322 / 23
Mobile No.:	91-7975709154 / 9980753679 (Mr. Gandikote Ramanna Nagabhushana)
Fax No.:	91-80-26750324
E-Mail :	info@ashwinielectronics.in info@ashwinielectronics.com sales@ashwinielectronics.com samrat@impactsolutionsgroup.org
Website :	www.ashwinielectronics.com
Area :	400 sq. ft. (At site)
Locality :	Commercial (At site)

Factory Address :	C-304, Block III, at Industrial Estate, Electronics City, Bangalore – 560100, Karnataka, India

SOLE PROPRIETOR

Name :	Mr. Gandikote Ramanna Nagabhushana
Designation :	Proprietor

BUSINESS DETAILS

Line of Business :	Dealer of Security Alarm System, Fire Detection and Alarm System, CCTVS, Access Control System, etc. (Confirmed by management)

Products :	Security Alarm System Fire Detection Alarm System CCTVS Access Control System

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :	Not Divulged

Imports :	Not Divulged

Terms :
Selling :	Cash and Cheque

Purchasing :	Cash and Cheque

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

Retailer and End Users

Reference :	Not Divulged
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

25 (Approximately)

Bankers :

Bank 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 (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Auditors :

Not Available

Memberships :

Not Available

Collaborators :

Not Available

Group Company:

Impact Solutions Group

-Subsidiary Company

· Impact Risk Management Solutions Private Limited

· Impact Techcraft Marketing Solutions Private Limited

· Impact Security and Human Resource Services Private Limited

· Impact Academy of Human Excellence Private Limited

· Wisdom Wilderness

CAPITAL STRUCTURE

Capital Investment :
Owned :	Not Divulged
Borrowed :	--
Total :	Not Divulged

FINANCIAL DATA

[all figures are in INR Million]

Particulars

31.03.2017

Sales Turnover (Approximately)

20.000

The above information has been taken from indirect source.

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry Records.

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	Yes
5	Buyer visit details	Yes
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	No
10	Date of Birth of Proprietor / Partners / Directors	No
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	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	No
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	No
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last one year	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	No
30	Major shareholders, if available	No
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

OBSERVATION FORM

COMPANY NAME: ASHWINI ELECTRONICS

ADDRESS: No.36/A-2, 17th Main, 11th Cross, Muneshwara Block, New Timber Yard Layout, II Stage, Bangalore – 560026, Karnataka, India

CONTACT NO: 91-7795292489 EMAIL: samrat@impactsolutionsgroup.org

PERSON TO WHOM WE MET: Mr. Vardhan DESIGNATION: Senior Executive

NAME BOARD: SIGHTED

LOCATION: EASY

LANDMARK (IF ANY): NEAR SAI RAM COMPUTERS

TOTAL FLOORS OF THE BUILDING: 3

SUBJECT SITUATED ON : 3^rd FLOOR

LOCALITY: COMMERCIAL

AREA OF PREMISES: 4000 (SQ. FT.)

AREA: NEUTRAL

NO. OF EMPLOYEES SEEN AT PREMISES: 6

VISIBILITY OF ITEMS:

TELEPHONE

FAX MACHINE

COMPUTERS

AIR CONDITIONER

OFFICE EQUIPMENT

XEROX MACHINE

FURNITURE ITEMS SIGHTED: Chairs, All office Furniture’s

NEIGHBOUR’S INTERVIEW

1) NAME OF COMPANY: Sai Ram Computers CONTACT PERSON NAME: Mr. Muralidhar

2) NAME OF COMPANY: Sai Ram Computers CONTACT PERSON NAME: Mr. Praveen

NEIGHBOUR’S OVERVIEW: They claimed that the subject is situated on the given address.

SISTER CONCERNS (OTHER NAMES ON NAME BOARD): Impact Solutions

PROOF OF VISIT: PHOTOGRAPH

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 64.79
UK Pound	1	INR 92.25
Euro	1	INR 80.76

INFORMATION DETAILS

Information Gathered by :	GYT

Analysis Done by :	PRY

Report Prepared by :	SUJ

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)

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.