MIRA
INFORM REPORT
|
Report Date : |
06.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
DAWNAY
DAY AV FINANCIAL SERVICES PRIVATE LIMITED |
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Registered Office : |
B – 1,
G – 01, Innova Marathon, Next Gen, Off G. K. Marg, Lower Parel [West], Mumbai
– 400013, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
18.03.2005 |
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Com. Reg. No.: |
11-152063 |
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CIN No.: [Company
Identification No.] |
U67190MH2005PTC152063 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMD12372D |
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PAN No.: [Permanent
Account No.] |
AACCD1326K |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Providing
high-end, client-focused and specialized investment and advisory services to
individual & institutional clients in India and abroad. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
New
Company |
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
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Comments : |
Subject
is a new joint venture company.
Directors are reported as experienced and respectable
businessmen. Capital base is
satisfactory. No payment could be
available. The
company can be considered for small business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
B – 1,
G – 01, Innova Marathon, Next Gen, Off G. K. Marg, Lower Parel [West], Mumbai
– 400013, Maharashtra |
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Tel. No.: |
91-22-66172222 |
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Fax No.: |
91-22-66172099 |
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E-Mail : |
miteshharia@dawnaydayav.com deepa.manohar@dawnaydayav.com |
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Website : |
DIRECTORS
|
Name : |
Mr.
Guy Anthony Naggar |
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Designation : |
Director
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Address : |
25144,
G Naggar Esq, 61, Avenue Road, London NW8 6HR, United Kingdom |
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Date of Birth/Age : |
14.10.1940 |
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Date of Appointment : |
29.04.2005 |
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Name : |
Mr.
Alok Sureshchandra Vajpeyi |
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Designation : |
Managing
Director |
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Address : |
Flat
No. 06, 6th Floor, Sanghi Residency, Palki Gully, Prabhadevi,
Mumbai – 400025, Maharashtra, India |
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Date of Birth/Age : |
24.08.1960 |
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Date of Appointment : |
18.03.2005 |
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Name : |
Mr.
Peter Richard Klimt |
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Designation : |
Director
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Address : |
54,
Redington Road, London NW3 7RS, London 25132251, United Kingdom |
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Date of Birth/Age : |
21.01.1946 |
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Date of Appointment : |
29.04.2005 |
SHAREHOLDING PATTERN
|
Category
|
|
Percentage of Holding |
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Foreign
Holdings [Foreign Institutional Investors, Foreign Companies, Foreign
Financial Institutions, Non – resident Indians or Overseas Corporate Bodies
or Others |
|
50.00 |
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Directors
or relatives of directors |
|
25.00 |
|
Other
top fifty shareholders |
|
25.00 |
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TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing
high-end, client-focused and specialized investment and advisory services to
individual & institutional clients in India and abroad. |
GENERAL
INFORMATION
|
Bankers : |
Not
Available |
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Banking Relations : |
-- |
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Auditors : |
Deloitte
Haskins & Sells 12,
Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai – 400018,
Maharashtra, India PAN
No. : AACFD4815A |
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Subsidiaries : |
Dawnay
Day Av Wealth Management Services Private Limited CIN
No. : U70100MH2005PTC155887 |
CAPITAL STRUCTURE
[As on
18.09.2006]
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
5370000 |
Equity
Shares |
Rs. 10/- each |
Rs. 53.700 millions |
|
27630000 |
Preference
Shares |
Rs. 10/- each |
Rs. 276.300 millions |
|
|
TOTAL |
|
Rs. 330.000
millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
2229000 |
Equity
Shares |
Rs. 10/- each |
Rs. 22.290 millions |
|
25959181 |
Preference
Shares |
Rs. 10/- each |
Rs. 259.592 millions |
|
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TOTAL |
|
Rs. 281.882
millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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252.031 |
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2] Share Application Money |
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|
0.000 |
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3] Reserves & Surplus |
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|
0.040 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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252.071 |
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LOAN FUNDS |
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1] Secured Loans |
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353.683 |
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2] Unsecured Loans |
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|
0.000 |
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TOTAL BORROWING |
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353.683 |
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DEFERRED TAX LIABILITIES |
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0.370 |
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TOTAL |
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606.124 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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17.705 |
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Capital work-in-progress |
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489.076 |
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INVESTMENT |
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10.416 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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62.481 |
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Cash & Bank Balances |
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|
8.300 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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31.887 |
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Total Current Assets |
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102.668 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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12.447 |
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Provisions |
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|
1.294 |
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Total Current Liabilities |
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13.741 |
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Net Current Assets |
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88.927 |
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MISCELLANEOUS EXPENSES |
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|
0.000 |
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TOTAL |
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606.124 |
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KEY
RATIOS
|
PARTICULARS |
|
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|
31.03.2006 |
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
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1.45 |
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Current
Ratio (Current
Asset/Current Liability) |
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|
1.47 |
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE
DETAILS
Dawnay, Day gets SEBI in - principle
approval for Mutual Fund Business
Mumbai,
October 13, 2006
Dawnay ,
Day International Limited [(DDI) acting as the sponsor] has received the in -
principle approval from Securities and Exchange Board of India (SEBI) for
setting up a mutual fund business in the country.
DDI
through it's Asset Management Company (AMC) plans to roll out its mutual fund
schemes early next year after all final approvals from SEBI, and is aiming at
building it's assets under management to over Rs. 50000 millions within three
years. DDI expects to announce the CEO for the AMC shortly.
Given
the growth in mutual fund AUM of 45% over the last year, they feel that the
Indian mutual fund industry offers strong growth potential. Their team
comprises of experienced and high quality finance professionals, who have a
superlative track record. With over 250 employees across 4 cities, they have
one of the largest teams have consciously worked on putting in place a robust
infrastructure at the launch stage itself. Their vision is to create a world
class, global scale Asset management Company that can offer Indian investors
solutions to their financial needs, across asset classes and across customer
segments." said Alok Vajpeyi, Vice Chairman & MD of Dawnay Day AV
Financial Services Private Limited
In India
Dawnay, Day as a Group already has a presence in retail stock broking, portfolio
management services, wealth management & hotel sector through its joint
venture with Alok Vajpeyi.
About
Dawnay Day AV Financial Services Private Limited
Dawnay
Day AV Financial Services Private Limited (DDAV) is a joint venture between
Dawnay, Day International Limited (UK) and Alok Vajpeyi, and was launched in
India in response to the dynamics presented by the country's rapidly growing
economy. DDAV ventures into the area of financial services, providing high-end,
client-focused and specialized investment and advisory services to individual
& institutional clients in India and abroad. DDAV offers one of the most
comprehensive financial advice from a multi-disciplined team.
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.44.11 |
|
UK
Pound |
1 |
Rs.86.58 |
|
Euro |
1 |
Rs.57.04 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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|
|
--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
YES |
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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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
30 |
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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
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/normal. |
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 |
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