MIRA
INFORM REPORT
|
Report Date : |
05.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CARLO MENZE GROUP VENTURES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
CMM Building, First Floor, Rua De Ourem, Panaji-403001, Goa |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
18.09.1998 |
|
|
|
|
Com. Reg. No.: |
24-2606 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74210GA1998PTC002606 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRCO6618D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCC6064C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
To carry on business of technical consultants, advisors, market
surveyors, advertisers and /or render technical know-how to any individual,
firm, companies, corporate bodies, societies, undertakings, organizations,
institutions, associations, government, local authorities and scientific
research and development centers in India and abroad. |
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 : |
USD 4000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. It
profitability is under severe pressure having good amount of accumulated
losses. Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings
with slight caution initially. |
LOCATIONS
|
Registered Office : |
CMM Building, First Floor, Rua De Ourem, Panaji-403001, Goa, India |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Cosme Matias Menezes Building, Rua de Qurem, Panjim-403001, Goa, India |
|
Tel. No.: |
91-832-2422587 |
DIRECTORS
|
Name : |
Mrs. Fatima Ilda Menezes |
|
Designation : |
Director |
|
Address : |
HNO 1588, Villa Santo, Antonio Al to Porvorm- 403521, Goa, India |
|
Date of Birth/Age : |
09.08.1952 |
|
Date of Appointment : |
18.09.1998 |
|
|
|
|
Name : |
Mr. Carlos Mario Menezes |
|
Designation : |
Managing Director |
|
Address : |
H. No. PDF 1588, St Antonio, B Borkar Road, Al to Porvorim, Bardez at
To Porvorim-403521, Goa, India |
|
Date of Birth/Age : |
10.03.1946 |
|
Date of Appointment : |
18.09.1998 |
KEY EXECUTIVES
|
Name : |
Mr. I M D’Souza |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.03.2005
|
Names of Shareholders |
|
No. of Shares |
|
Carlos M Menezes |
|
21060 |
|
Fatima Iida Menezes |
|
1060 |
|
Karla Menzes |
|
960 |
|
Katia Maria Menzes |
|
960 |
|
Craiz Anthony Menzes |
|
960 |
|
Total |
|
25000 |
Equity Share Breakup (Percentage of Total Equity)
As on 29.09.2007
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To carry on business of technical consultants, advisors, market
surveyors, advertisers and /or render technical know-how to any individual,
firm, companies, corporate bodies, societies, undertakings, organizations,
institutions, associations, government, local authorities and scientific
research and development centers in India and abroad. |
GENERAL
INFORMATION
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A V Kamat and Company Chartered Accountants |
|
Address : |
126/8, Monte Cristo House, 1st Floor, Caetano Albuquerque
Road, Panaji-403001, Goa, India |
|
Tel. No.: |
91-832-2225605/ 564484 |
|
|
|
|
Group Companies : |
CARLO MENZE ART
GALLERY 54, Rua Sao Tome, Panjim, Goa – 403001, India MENEZES AIR TRAVEL PRIVATE LIMITED Panjim
: CMM
Bldg,Ground Floor, Rua de Ourem, Panjim, Goa – 403001, India Margao:
Luis Miranda Road, Behind
Municipality Bldg, Margao, Goa – 403601, India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Shares |
Rs. 100/- each |
Rs. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
25000 |
Equity Shares |
Rs. 100/- each |
Rs. 2.500 Millions |
||
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.500 |
2.500 |
2.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
[1.681] |
[1.364] |
[0.559] |
|
|
NETWORTH |
0.819 |
1.136 |
1.941 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
9.883 |
11.281 |
11.248 |
|
|
TOTAL BORROWING |
9.883 |
11.281 |
11.248 |
|
|
DEFERRED TAX LIABILITIES |
0.073 |
0.000 |
0.012 |
|
|
|
|
|
|
|
|
TOTAL |
10.775 |
12.417 |
13.201 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.429 |
1.758 |
1.500 |
|
|
Capital work-in-progress |
0.061 |
0.061 |
0.061 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.032 |
0.035 |
0.031 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9.479
|
9.954 |
10.923 |
|
|
Sundry Debtors |
0.111
|
0.009 |
0.173 |
|
|
Cash & Bank Balances |
0.124
|
0.849 |
0.399 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.013
|
0.550 |
1.052 |
|
Total
Current Assets |
9.727
|
11.362 |
12.547 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
0.476
|
0.734 |
0.881 |
|
|
Provisions |
0.000
|
0.068 |
0.060 |
|
Total
Current Liabilities |
0.476
|
0.802 |
0.941 |
|
|
Net Current Assets |
9.251
|
10.560 |
11.606 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.002 |
0.003 |
0.003 |
|
|
|
|
|
|
|
|
TOTAL |
10.775 |
12.417 |
13.201 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
|
1.605 |
1.799 |
|
|
Other Income |
|
0.224 |
0.100 |
|
|
Total Income |
|
1.829 |
1.899 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
[0.205] |
[0.821] |
|
|
Provision for Taxation |
|
[0.113] |
[0.017] |
|
|
Profit/(Loss) After Tax |
|
[0.318] |
[0.804] |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Financial Charges |
|
0.002 |
0.001 |
|
|
Increase/(Decrease) in Finished Goods |
|
0.474 |
0.969 |
|
|
Depreciation & Amortization |
|
0.185 |
0.269 |
|
|
Other Expenditure |
|
1.373 |
1.481 |
|
Total Expenditure |
|
2.034 |
2.720 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
[17.39]
|
[42.34] |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
[12.77]
|
[45.63] |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
[1.83]
|
[6.25] |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
[0.25]
|
[0.72] |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
12.64
|
10.64 |
6.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
20.43
|
14.17 |
13.33 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
CARLO MENSE GROUP VENTURES PRIVATE LIMITED |
|
Presented By |
Fatima Ilda
Menezes – Director |
|
1) Date and description of instrument creating the change |
Letter of
Hypothecation of Agreement for goods and Book Debts dated 16.08.2001 for Rs. 2.000
Million |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.000 Million |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
N.A |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
a) Payable on
Demand b) Interest @ of
15% per annum |
|
5) Name and Address and description of the person entitled to the charge. |
Union Bank of
India, Panjim, Goa |
|
6) Date and brief description of instrument modifying the charge |
N.A |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A |
AS PER WEBSITE
About
Group Companies :
CARLO MENZE ART GALLERY
History:
Carlo Menze Art Gallery caters
to the lovers of ancestral oriental furniture, porcelain and authentic China. On
display and sale are camphor-chests, wall hangings with quality wood, TV
cabinets, sofa sets, writing desks with hidden chair and European Christian
art.
Also available are dinner and tea sets, wall plates,
platters in colour with Rice designs (Bagos de arroz), kitchen knives,
garden/hobby tools, towing ropes etc.
For gifts and home decoration will find blue and yellow
Porcelain consisting of vases, plates, trays, platters, jars and a wide range
of items like figurines in fine china.
MENEZES
AIR TRAVEL PRIVATE LIMITED
History:
Menezes Air Travel (MAT) was established in 1947 and secured recognition
from IATA in 1948, thus becoming the first IATA approved agency in Goa. Success
followed as many airlines appointed MAT as their agents. Travel business boomed
as MAT served all Government and semi Government Agencies and most of the
Commercial establishments in Goa.
MAT today has strived to meet new challenges and has further improved
its quality of service. Its staff are devoted to the motto of hard work
delivering good service and satisfaction to the traveling public.
Profile:
Goa offers more than the sun, sea, sand and architecture
that attracts tourists from all parts of the world. It is known as ‘The Pearl
of the Orient’. Blessed by nature and caressed by the sea, having fertile
fields, lush vegetation, breathtaking beaches, heritage monuments, delicious
sea food and friendly local people, tourists all over the world find it the
most ideal place to visit.
Menezes Air Travel (MAT) is Goa's oldest and leading IATA
accredited travel agency. MAT has the privilege of introducing Goa to
discerning travellers and caters to their every need, leaving them with a free
frame of mind to enjoy the delights of Goa. “MAT” is a member of many travel
assosciations and is networking with many other travel agents in India and
abroad to provide better services to their clients. It is located in Panjim
(North Goa) and Margao (South Goa).
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.42.40 |
|
UK Pound |
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.66.02 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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. |
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 |
|