MIRA
INFORM REPORT
|
Report Date : |
18.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
NUANCE GROUP [INDIA] PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
SHOPPER’S STOP DUTY FREE PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Eureka Towers, B Wing, 9th Floor, Mindspace, Link Road,
Malad [West], Mumbai – 400064, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Date of Incorporation : |
12.12.2006 |
|
|
|
|
Com. Reg. No.: |
166148 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51228MH2006PTC166148 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMN14745D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAKCS4860P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
To operate and manage duty free retail outlets and food and beverage
retail outlets at the airports in India and for that purpose, to participate
in tenders / auctions, bid for, acquire or otherwise construct, develop and take
on lease duty free retail outlets and food and beverage retail outlets at
airports in India. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
-- |
|
|
|
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a sister company of Shoppers Stop, a chain of retail
stores. It is controlled by richest family in the country having made fortunes
in real estate development in major cities in India. Payment records of Shoppers Stop are correct. The company can be
considered good for normal business dealings and it can be regarded as a
promising business partner. |
LOCATIONS
|
Registered Office : |
Eureka Towers, B Wing, 9th Floor, Mindspace, Link Road,
Malad [West], Mumbai – 400064, Maharashtra, India |
|
Tel. No.: |
91-22-66887239 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. B. S. Nagesh |
|
Designation : |
Director |
|
Address : |
81/82, B Wing, Park Plaza, New Yari Road, Andheri [West], Mumbai –
400061, Maharashtra, India |
|
Date of Birth/Age : |
12.04.1959 |
|
Other Directorship : |
Shopper’s Stop Limited CIN No.: L51900MH1997PLC108798 Crossword Bookstores Limited CIN No.:U52396MH1999PLC122528 Upasna Trading Limited CIN No.:U51900MH1995PLC095115 Shoppers Stop.Com [India] Limited CIN No.:U72900MH2000PLC124178 Shopper’s Stop Services [India] Limited CIN No.:U74999MH2000PLC124945 Hypercity Retail [India] Private Limited CIN No.:U52510MH2004PTC146577 |
|
|
|
|
Name : |
Mr. Chandrashekhar Bhalchandra Navalkar |
|
Designation : |
Director |
|
Address : |
Flat No. 11, Navnidh Apartment, Liberty Garden, Road No. 3, Malad
[West], Mumbai – 400064, Maharashtra, India |
|
Date of Birth/Age : |
21.03.1956 |
|
Other Directorship : |
Shoppers Stop.Com [India] Limited CIN No.:U72900MH2000PLC124178 Shopper’s Stop Services [India] Limited CIN No.:U74999MH2000PLC124945 Upasna Trading Limited CIN No.:U51900MH1995PLC095115 Crossword Bookstores Limited CIN No.:U52396MH1999PLC122528 |
|
Date of Appointment : |
12.12.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
B. S. Nagesh |
|
5000 |
|
Chandrashekhar B Navalkar |
|
5000 |
BUSINESS DETAILS
|
Line of Business : |
To operate and manage duty free retail outlets and food and beverage
retail outlets at the airports in India and for that purpose, to participate in
tenders / auctions, bid for, acquire or otherwise construct, develop and take
on lease duty free retail outlets and food and beverage retail outlets at
airports in India. |
GENERAL
INFORMATION
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Shopper’s Stop Limited CIN No.: L51900MH1997PLC108798 Crossword Bookstores Limited CIN No.:U52396MH1999PLC122528 Upasna Trading Limited CIN No.:U51900MH1995PLC095115 Shoppers Stop.Com [India] Limited CIN No.:U72900MH2000PLC124178 Shopper’s Stop Services [India] Limited CIN No.:U74999MH2000PLC124945 Hypercity Retail [India] Private Limited CIN No.:U52510MH2004PTC146577 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 500.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 240.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
No financials are available as the subject is a new company.
LOCAL AGENCY
FURTHER INFORMATION
Nil
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.57 |
|
UK Pound |
1 |
Rs.78.93 |
|
Euro |
1 |
Rs.56.85 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|