MIRA INFORM REPORT

 

 

Report Date :

23.05.2008

 

IDENTIFICATION DETAILS

 

Name :

PCH RETAIL LIMITED

 

 

Registered Office :

Flat 103, 104, 105/A, 105/B, 106 and 107, Maheshwari Chambers, Hyderabad 500 082, Andhra Pradesh

 

 

Country :

India

 

 

Date of Incorporation :

03.01.2007

 

 

Com. Reg. No.:

01-52227

 

 

CIN No.:

[Company Identification No.]

U74999AP2007PLC052227

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

HYDP04297G

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Exporter, Dealer and Seller of Consumer Durables, Home Appliances, Audio and Video Equipments, Digital Imaging products, Cellular Phones, IT Products

Furniture, Accessories, Artefacts, Interior Designing & projects

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is a new company and yet to established track in the market.

 

No payment records are available.

 

In absence of financials, it would be difficult to ascertain company’s performance and financial position.

 

Hence, it can be considered for initial business dealings on safe and secured trade terms and conditions.

 

 

LOCATIONS

 

Registered Office :

Flat 103, 104, 105/A, 105/B, 106 and 107, Maheshwari Chambers, Hyderabad 500 082, Andhra Pradesh, India 

E-Mail :

pchgroup_6@yahoo.com

 

 

Branches :

Existing Multi-brand Stores (Hyderabad)

  • Somajiguda

Tel. No. 91-40-23316310

Fax No.: 91-40-23316310

  • Malakpet
  • Karkhana
  • A S Rao Nagar
  • Masab Tank
  • Habsiguda
  • Kompally
  • Chandanagar
  • Old city
  • Jubilee Hills
  • Ameerpet
  • Vanasthalipuram
  • Towli chocki
  • Sony World (Malakpet)
  • Sony World (Kukatpally)
  • Sony World (Himayat Nagar)
  • Samsung Plaza (Begumpet)

 

Existing Multi-brand Stores (Andhra Pradesh)

  • Guntur
  • Nizamabad
  • Vijaywada – Bandar Road
  • Vijaywada – Eluru Road
  • Vishakhapatanam
  • Hanomkonda
  • Karimnagar


Existing Mobile & IT Stores (Hyderabad)

  • Nacharam
  • Ramantpur
  • R B Road
  • S D Road
  • Marredpally
  • Vidya Nagar
  • Santosh Nagar
  • L B Nagar


Existing Mobile & IT Stores(Andhra Pradesh)

  • Karimnagar
  • Nizamabad
  • Vishakhapatanam – (Peda Waltair)
  • Vishakhapatanam – (Gopalpatanam)
  • Rajamundry
  • Vijaywada
  • Guntur
  • Khammam
  • Karnool

 

 

 

 

DIRECTORS

 

Name :

Mr. Sardar Balwinder Singh

Designation :

Managing Director 

Address :

Plot No. 502, Road No. 5, Banjara Petal, Banjara Hills, Hyderabad 500 033, Andhra Pradesh, India

Date of Birth/Age :

31.03.1969

Date of Appointment :

03.01.2007

 

 

Name :

Mr. Balvinder Huzur Singh

Designation :

Director

Address :

Flat No. 502, Bajara Petals Road No. 5, Banjara Hills, Hyderabad 500 034 Andhra Pradesh , India

Date of Birth/Age :

31.03.1969

 

 

Name :

Mr. Baljit Gurbax Kaur

Designation :

Director

Address :

Flat No. 502, Bajara Petals Road No. 5, Banjara Hills, Hyderabad 500 034, Andhra Pradesh, India

Date of Birth/Age :

17.04.1974

 

 

Name :

Mr. B. Ravichandran

Designation :

Director

Address :

Flat No. 103, Padmarao Nagar, Secunderabad, Andhra Pradesh, India

Date of Birth/Age :

21.01.1966

 

 

Name :

Ms. Madhu Kiran

Designation :

Director

Address :

Plot No. 40, Secunderabad, Andhra Pradesh, India

 

 

Name :

Mr. G V Subba Rao

Designation :

Director

Address :

3-74, Flat No. 1102, Hyderabad 560 035, Andhra Pradesh, India

Date of Birth/Age :

23.01.1960

 

 

Name :

Mr. S. Rangarajan

Designation :

Director

Address :

C-410, Kunera Towers, Trimulgherry, Secunderabad 500 015, Andhra Pradesh, India 

Date of Birth/Age :

31.10.1941

 

 

Name :

Mr. G. Suresh Babu

Designation :

Director

Address :

Flat No. 201, Sri Sai Ganesh Residency, R C Puram, Hyderabad 500 032, Andhra Pradesh, India

Date of Birth/Age :

02.06.1959

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 18.12.2006

 

Names of Shareholders

 

No. of Shares

 

 

 

Mr. Balvinder Singh

 

24948

Mr. Baljit Kaur

 

24948

Mr. B. Ravichandran

 

100

Ms. Madhu Kiran

 

1

Mr. G V Subba Rao

 

1

Mr. S. Rangarajan

 

1

Mr. G. Suresh Babu

 

1

 

 

BUSINESS DETAILS

 

Line of Business :

Exporter, Dealer and Seller of Consumer Durables, Home Appliances, Audio and Video Equipments, Digital Imaging products, Cellular Phones, IT Products

Furniture, Accessories, Artefacts, Interior Designing & projects

 

 

Products :
  • Consumer Durables
  • Home Appliances
  • Audio and Video Equipments
  • Digital Imaging products
  • Cellular Phones
  • IT Products
  • Furniture
  • Accessories
  • Artefacts
  • Interior Designing & projects

 

 

GENERAL INFORMATION

 

No. of Employees :

Around 350

 

 

Bankers :

Not Available

 

 

Financial Institution :

  • Tata Capital Limited, Ewart House. 3rd Floor, 22 Homi Mody Street, Mumbai 400 001, Maharashtra, India

 

  • 3i Infotech Trusteeship Services Limited, 3rd to 6th Floor, International Infotech Park, Tower No. 5, Vashi Railway Station Complex, Vashi, Navi Mumbai 400 703, Maharashtra, India

 

 

Facilities :

The company enjoys loan mortgage facility of Rs. 75.000 millions from Tata Capital Limited.

 

 

 

Banking Relations :

Unknown

 

 

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50,00,000

Equity Shares

Rs. 10/- each

Rs. 50.000 millions

 

 

 

 

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50,000

Equity Shares

Rs. 10/- each

Rs. 0.500 million

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Nil

 

 

LOCAL AGENCY FURTHER INFORMATION

 

FORM 8

 

This form is for

Creation of charge

Corporation identity number (CIN) or foreign company registrations number of the company 

U74999AP2007PLC052227

Name of the company

PCH RETAIL LIMITED

Address

Flat 103, 104, 105/A, 105/B, 106 and 107, Maheshwari Chambers, Hyderabad 500 082, Andhra Pradesh

Type of Charges

Pari Passu charge on current and fixed assets

Whether consortium finance is involved

No

Whether joint charge involved

No

Number of charge holder(s)

1

Particular of the charge holder 

3i Infotech Trusteeship Services Limited

3rd to 6th Floor, International Infotech Park, Tower No. 5, Vashi Railway Station Complex, Vashi, Navi Mumbai 400 703, Maharashtra, India

Nature or description of the instrument creating or modifying the charge  

Deed of hypothecation

Date of the instrument creating charge

11.03.2008

Whether charge created or modified outside India

No

Amount Secure by the charge

Rs. 180.000 millions

Brief particulars of the principal terms and conditions and extent and operation of the charge

Rate of Interest: IBAR+CC Premia – 2.75% (IBAR is ICICI Benchmark Advance Rate)

 

Terms of repayment: repayable on demand

 

Margin: 25% against all component of inventory and 25% against all book debts

 

Extent and operation of the charge: pasi passu charge on current and fixed assets of the firm

Whether any of the property or interest therein under reference is not registered in the name of the company 

No

 

 

AS PER WEB:

 

Profile

 

PCH, a pioneer retail company believes in offering almost everything in the world of digital & electronics products for home needs under one roof resulting in making your life digital cup of joy.

 

PCH, A project initiated, promoted and lead by Mr. Balvinder Singh has come a long way in the success path and seen new heights of success every year. The business house owned by one of most reputed Hyderabad based business family. Started as private enterprise with a turn over of 5 crores in 2001-02 has now crossed the mark of 120 crores in 2006-07.

 

 

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.43.15

UK Pound

1

Rs.85.08

Euro

1

Rs.68.10

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

--

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

--

--LIQUIDITY

1~10

--

--LEVERAGE

1~10

--

--RESERVES

1~10

--

--CREDIT LINES

1~10

3

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--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

 

15

 

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

 

 

 

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