MIRA
INFORM REPORT
|
Report Date : |
05.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
BLUE CHIP GUEST HOUSE AND SERVICES APARTMENTS |
|
|
|
|
Registered Office : |
45th Quadrant, #4/5, 3rd Main, 1st
Cross, Ashwini Layout, Inner Ring Road, Koramangala, Bangalore 560034,
Karanataka. |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 (Estimated) |
|
|
|
|
Year of Establishment : |
2002 |
|
|
|
|
Legal Form : |
Partnership Concern With an Unlimited Liability of the Partner |
|
|
|
|
Line of Business : |
Provider of Services Apartments, Hotels Facilities for use by
Corporate Executives, Travellers and Tourists. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established concern offering serviced apartments for
corporate executive.Trade relations are fair. Payments are usually correct and
as per commitments. Nothing adverse reported. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Akshay |
|
Designation : |
Accountant |
|
Date : |
05.11.2008 |
LOCATIONS
|
Registered Office/Head Office : |
45th Quadrant, #4/5, 3rd Main, 1st
Cross, Ashwini Layout, Inner Ring Road, Koramangala, Bangalore 560034,
Karanataka, India. |
|
Tel. No.: |
91-80-40477666 / 41520506 |
|
Mobile No.: |
91-9880500586 (Mr. Zahir Rafique) |
|
Fax No.: |
91-80-40477699 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Guest House 1: |
4/5, 3rd Main 1st Cross, Ashwini Layout,
Intermediate ring Road, Ejipura Post, Koramanagala, Bangalore 560032. |
|
Tel No: |
91-80-41520506 |
|
Mobile No: |
91-9880500586 |
|
Fax No: |
91-80-40477699 |
|
E-Mail: |
|
|
|
|
|
Guest House 2 : |
Blue Chip Naga, Plot No G-3, Naga Ahujha Enclave, 2/2, St Johns Road,
Ulsoor, Bangalore 560042. |
|
|
|
|
Factory : |
Blue Chip Naga, Blue Chip Fairwoods, Blue Chip Korai’s Inn, Blue Chip
Palms, Located at Ulsoor, Indiranagar, Koramangala, Bangalore |
PARTNERS
|
Name : |
Mr. Rafique Ismail |
|
Designation : |
Partner |
|
Date of Birth/Age : |
25 Years |
|
|
|
|
Name : |
Mr. Zahir Rafique |
|
Designation : |
Partner |
|
Date of Birth/Age : |
51 Years |
KEY EXECUTIVES
|
Name : |
Mr. Akshay |
|
Designation : |
Accountant |
BUSINESS DETAILS
|
Line of Business : |
Provider of Services Apartments, Hotels Facilities for use by
Corporate Executives, Travellers and Tourists. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Carry |
|
|
|
|
Purchasing : |
Cash and Carry |
GENERAL
INFORMATION
|
Suppliers : |
·
Samsung ·
LG ·
Parryware |
|
|
|
|
Customers : |
·
IBM ·
ITC Limited ·
MCkinsey and Company ·
Cisco Systems ·
Yahoo! ·
Avaya Global Connect ·
Pepsi ·
Tata Motors ·
Sapient Corporation ·
Syntel Inc. ·
Achieve Global ·
Air Bus ·
Atlas Copco ·
Brittania India ·
Cigma Events ·
EID Parry ·
EQMS Software ·
Hutchinson Essar ·
Evalueserve ·
First India Credit ·
First India Corporation ·
GE ·
Indegene Life Systems ·
Ingersoll ·
Rand ·
ING Vysya ·
ITC Foods ·
KPIT Cummins ·
KSA Technopark ·
Nestle India ·
Rams Hospitality ·
Tata Teleservices ·
Forbes Marshall ·
VFS Global ·
Hansen Drives ·
United Health Group |
|
|
|
|
No. of Employees : |
20 |
|
|
|
|
Bankers : |
·
Axis Bank Limited Cox Town, Bangalore 560004 ·
HDFC Bank Limited, Ulsoor, Bangalore 560008. |
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Ahmed, Chartered Accountant |
|
Address : |
Bangalore, Karnataka, India. |
CAPITAL STRUCTURE
Not Available.
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2008 (Estimated) |
|
Sales Turnover |
|
|
6.000 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
·
ITC Limited
·
IBM
·
MC Kinsey and Company
·
Yahoo!
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.62 |
|
UK Pound |
1 |
Rs.76.71 |
|
Euro |
1 |
Rs.61.30 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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 |
|