MIRA
INFORM REPORT
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Report Date : |
26.05.2007 |
IDENTIFICATION DETAILS
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Name : |
LEO |
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Formerly Known As : |
LEO |
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Registered Office : |
6 -3-349, FLAT No. 202, Millennium Square, Nagarjuna Circle, Road No.
1 B Hills, Hyderabad – 500 034, Andhra Pradesh, |
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Country : |
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Date of Incorporation : |
15.01.2001 |
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Com. Reg. No.: |
036053 |
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CIN No.: [Company
Identification No.] |
U45201AP2001PTC036053 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Builders and Developers |
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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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
Unknown |
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Comments : |
In absence of financial and business details since incorporation from
any sources, it would be advised to deal with the company on fully safe and
secured trade terms and conditions only. |
LOCATIONS
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Registered Office : |
6 -3-349, FLAT No. 202, Millennium Square, Nagarjuna Circle, Road No.
1 B Hills, Hyderabad – 500 034, Andhra Pradesh, |
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Tel. No.: |
91-40-66627744 |
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Mobile No.: |
91-9866311911 |
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E-Mail : |
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Area : |
550 Acres |
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Location : |
Owned |
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Corporate
Office: |
304, Greenland Apartments, Ameerpet, |
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Tel No.: |
91-40-66627733 |
DIRECTORS
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Name : |
Mr. Chakravarty Raju |
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Designation : |
Chairman and Managing Director |
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Name : |
Mr. Ranga Reddy |
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Designation : |
Director |
BUSINESS DETAILS
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Line of Business : |
Builders and Developers |
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Products : |
The company is concreting a resort spread over 550 acres with most
modern facilities having in-house, Imax theatre. It has already built 84 rooms and plans to
have 600 rooms. It also intends to change name to ’Leonia’ |
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Imports : |
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Products : |
Hardware and Common material of glasses |
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Countries : |
Europe, |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
L/C, Cash or Credit |
GENERAL INFORMATION
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Customers : |
Individuals |
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No. of Employees : |
250 |
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Bankers : |
UTI Bank Main Branch, |
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Facilities : |
The company reported to enjoy large facilities from its Banker. |
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Banking
Relations : |
Unknown |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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8500000 |
Equity Shares |
Rs. 10.00 each |
Rs. 85.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs. 10.00
each |
Rs. 0.250
million |
FINANCIAL DATA
[all figures are in
Rupees Millions]
No financials are available since
incorporation of the company.
As per Registry, it can be regarded as Defence
Company. We have taken up the issue with the highest level and if they provide
details, we shall up-date the same.
LOCAL AGENCY FURTHER INFORMATION
Resorts At:
202,
History:
The company was incorporated on 15.01.2001 as Leo
Convention City Private Limited Name changed to Leo Meridian Infrastructure
Projects and Hotels Private Limited. Name further changed to Leo Meridian
Resorts and Developers Private Limited.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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. 40.60 |
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1 |
Rs. 80.65 |
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Euro |
1 |
Rs. 54.55 |
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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