MIRA
INFORM REPORT
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Report Date : |
19.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
VATIKA LANDBASE PRIVATE LIMITED |
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Formerly Known As : |
K. J. REALTORS PRIVATE LIMITED |
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Registered Office : |
308, Vishal Bhawan, 95 Nehru Place, New Delhi – 110019 |
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Country : |
India |
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Financials (as on) : |
-- |
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Date of Incorporation : |
02.07.1998 |
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Com. Reg. No.: |
55-94773 |
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CIN No.: [Company
Identification No.] |
U74899DL1998PLC094773 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JPRV02476F |
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PAN No.: [Permanent
Account No.] |
AABCV5647G |
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Legal Form : |
Private limited liability company. |
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Line of Business : |
To purchase, sell, own, develop, improve, take on lease, exchange,
mortgage, assign, hire or otherwise acquire and / or dispose off lands of any
tenure or interest therein and to develop, erect, construct and furnish
industrial, residential agricultural, commercial, social, rural and / or
urban townships or estates and to rebuild, enlarge, alter and improve
existing structures and works thereon and to act as town planners and civil
contractors and to carry on the business of colonizers and for such purpose to
prepare estimates, designs, plan and specifications. |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Maximum Credit Limit : |
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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
Unknown |
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Comments : |
In absence of require financials and business details, it would be
advisable to deal with the company on fully safe and secured trade terms and
conditions. Management remained non-cooperative during current
investigations. No financials are filed with the Registry. |
LOCATIONS
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Registered Office : |
308, Vishal Bhawan, 95 Nehru Place, New Delhi – 110019, India |
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Tel. No.: |
91-11-55602956 |
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E-Mail : |
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Corporate Office : |
Vatika Triangle, VII Floor, Sushant Lok – 1, Block – A, Mehrauli –
Gurgaon Road, Gurgaon – 122002, Haryana, India |
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Tel. No.: |
91-124-4177777 |
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Fax No.: |
91-124-4177700 |
DIRECTORS
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Name : |
Mr. Anil Bhalla |
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Designation : |
Managing Director |
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Address : |
Farm No. 4, HUDE Park, Bandh Road, Sultanur, Mehrauli, New Delhi –
110030, India |
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Date of Birth/Age : |
28.05.1949 |
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Date of Appointment : |
01.04.2006 |
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Other Directorship : |
U74899DL1986PTC036387 Vatika Hospital Private Limited U55101DL2004PTC126079 Vatika Hotels Private Limited U45202DL2006PLC145197 Vatika Jaipur Sez Developers Limited U74899DL1988PTC034003 Vatika Farms Private Limited U45201DL2005PTC135015 Buzz Estates Private Limited U45201DL2004PTC128510 King Buildcon Private Limited U45201DL2005PTC142178 Spring Buildcon Private
Limited U45201DL2004PTC128612 Witness Construction Private Limited U45202DL2005PTC142177 Wonder Developers Private Limited |
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Name : |
Ms. Kanchan Bhalla |
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Designation : |
Director |
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Address : |
Farm No. 4, Bandh Road, Sultanur, Mehrauli, New Delhi – 110030, India |
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Date of Birth/Age : |
08.08.1953 |
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Date of Appointment : |
23.10.2002 |
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Name : |
Mr. Anupam Nagalia |
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Designation : |
Director |
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Address : |
EG-3/18, Garden Estate, Gurgaon, Haryana, India |
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Date of Birth/Age : |
27.10.1956 |
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Date of Appointment : |
03.12.2001 |
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Name : |
Mr. Gautam Bhalla |
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Designation : |
Director |
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Address : |
Farm No. 4, Bandh Road, Sultanur, Mehrauli, New Delhi – 110030, India |
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Date of Birth/Age : |
08.05.1978 |
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Date of Appointment : |
03.12.2001 |
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Name : |
Mr. Gaurav Bhalla |
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Designation : |
Director |
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Address : |
Farm No. 4, Bandh Road, Sultanur, Mehrauli, New Delhi – 110030, India |
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Date of Birth/Age : |
05.01.1980 |
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Date of Appointment : |
15.01.2001 |
KEY EXECUTIVES
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Name : |
Mr. Sunil Kumar |
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Designation : |
Company Secretary |
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Address : |
67/9, Kishan Garh, Vasant Kunj, New Delhi – 110070 |
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Date of Appointment : |
05.11.2004 |
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Date of Ceasing : |
31.07.2005 |
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Name : |
Mr. Dhiraj Kumar Sinha |
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Designation : |
Company Secretary |
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Address : |
156/12, Sultanpur, Near SBI, M. G. Road, New Delhi – 110030 |
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Date of Birth/Age : |
12.10.1975 |
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Date of Appointment : |
12.12.2005 |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Anil Bhalia |
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4030100 |
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Kanchan Bhalia |
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50000 |
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Anupam Nagalia |
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94900 |
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Gautam Bhalia |
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50050 |
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Gaurav Bhalia |
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50050 |
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Vatika Townships Private Limited |
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975000 |
BUSINESS DETAILS
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Line of Business : |
To purchase, sell, own, develop, improve, take on lease, exchange,
mortgage, assign, hire or otherwise acquire and / or dispose off lands of any
tenure or interest therein and to develop, erect, construct and furnish
industrial, residential agricultural, commercial, social, rural and / or
urban townships or estates and to rebuild, enlarge, alter and improve
existing structures and works thereon and to act as town planners and civil
contractors and to carry on the business of colonizers and for such purpose to
prepare estimates, designs, plan and specifications. |
GENERAL
INFORMATION
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Bankers : |
Canara Bank, Old Railway Road, Gurgaon – 122001, Haryana, India |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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11000000 |
Equity Shares |
Rs. 10/- each |
Rs. 110.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10739600 |
Equity Shares |
Rs. 10/- each |
Rs. 107.396
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
No financials are available since incorporation of the company.
The company appear to be irregular in preparing and maintaining proper
books of accounts.
LOCAL AGENCY
FURTHER INFORMATION
The Registered Office of the company has been shifted from II Floor, 98,
Sant Nagar, New Delhi, Delhi – 110048, India to the present address w.e.f.
24.04.2006.
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Corporate
identity number of the company |
U74899DL1998PLC094773 |
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Name of the
company |
VATIKA LANDBASE PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
II Floor, 98, Sant Nagar, New Delhi, Delhi – 110048, India |
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This form is for |
Modification of charge |
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Type of charge |
Immovable
property, Any interest in immovable property and others |
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Particular of
charge holder |
L70100MH1977PLC019916 Housing
Development Finance Corporation Limited Ramon House 169
Backbay Reclamation, H T Parekh Marg, Mumbai – 400020, Maharashtra, India |
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Nature of instrument
creating charge |
Supplementary
loan agreement and promissory note dated 24.11.2006 |
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Date of
instrument Creating the charge |
24.11.2006 |
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Amount secured by
the charge |
Rs. 1107.200
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest
– 11 % Terms of
repayment Loan amount shall
be repaid in 6 quarterly installments of Rs. 150.000 Millions and 1 Quarterly
installments of Rs. 100.000 Millions.
Loan repayment shall start from the quarter ending December 31, 2007. Margin – Nil Extent and
operation of the charge = as per supplementary loan agreement and promissory
note dated 24.11.2006 |
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Short particulars
of the property charged |
Mortgage of project
known as “Vatika City” located at Sohna – Gurgaon Road, Badshahpur, Gurgaon
with construction thereon, present and future Assignment of all
the receivables of the project First equitable
mortgage of the property “Vatika City” situated at Jaipur and construction
thereon, present and future. Personal
Guarantees of Mr. Anil Bhalla, Mr. Gautam Vhalla, Mr. Gaurav Bhalla and Mr.
Anupam Nagalia. |
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Particulars of
the present modification |
The loan amount
stands increased from Rs. 250.000 Millions to Rs. 1107.200 Millions |
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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Indian Rupees |
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US Dollar |
1 |
Rs.44.28 |
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UK Pound |
1 |
Rs.86.64 |
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Euro |
1 |
Rs.58.10 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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