MIRA
INFORM REPORT
|
Report Date : |
18.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CYBELE PARADISE PRIVATE LIMITED |
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Registered Office : |
111, Industrial Area, Sion (East), Mumbai – 400022, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
02.03.2005 |
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Com. Reg. No.: |
11-151707 |
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CIN No.: [Company
Identification No.] |
U92199MH2005PTC151707 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC13881A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in the business of entertainment and gaming zone |
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 |
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Maximum Credit Limit : |
USD 350000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 3 years old company having moderate track. The company has
some accumulated losses. Trade relations are fair. Payments are reported as
slow but correct. The company can be considered good for small to mediocre business
dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Rajesh Jain |
|
Designation : |
Finance Manager |
|
Date : |
28.07.2008 |
LOCATIONS
|
Registered Office : |
111, Industrial Area, Sion (East), Mumbai – 400022, Maharashtra, India
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Tel. No.: |
91-22-24090124/ 127/ 325 |
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Fax No.: |
91-22-24072949 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branch Office 1: |
Atria Millennium Mall Dr. Annie Besant Road, Opposite Poonam Chambers,
Worli, Mumbai – 400022, Maharashtra, India |
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Tel. No.: |
91-22-24813380/ 3480 |
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Branch Office 2: |
Nirmal Lifestyles Mall 2nd Floor, Small Shop Paradise, LBS
Marg, Mulund (West), Mumbai – 400080, Maharashtra, India |
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Tel. No.: |
91-22-25930074/ 67701234 |
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Branch Office 3: |
Baroda Orama Krazyy Kingdom More Mega Store, Plot No. 151, TP Scheme No. 19, Padmatex Compound,
Manjalpur, Vadodara, Gujarat, India |
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Tel No.: |
91-265-6456994/ 6 |
DIRECTORS
|
Name : |
Mr. Ankur Girish Choksey |
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Designation : |
Managing Director |
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Address : |
Geetanjali, 9 Gamadia Cross Road, Gamdevi, Mumbai – 400026,
Maharashtra, India |
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Date of Birth/Age : |
04.08.1969 |
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Date of Appointment : |
02.03.2005 |
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Name : |
Mrs. Hiloni Ankur Choksey |
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Designation : |
Director |
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Address : |
1/A, Geetanjali, 9 Gamadia Cross Road, Gamdevi, Mumbai – 400026,
Maharashtra, India |
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Date of Birth/Age : |
29.07.1973 |
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Date of Appointment : |
02.03.2005 |
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Name : |
Mr. Girish Champaklal Choksey |
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Designation : |
Director |
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Address : |
Geetanjali, 9 Gamadia Cross Road, Gamdevi, Mumbai – 400026,
Maharashtra, India |
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Date of Birth/Age : |
21.10.1942 |
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Date of Appointment : |
21.11.2007 |
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Name : |
Mr. Atul Ishwardas Chordia |
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Designation : |
Director |
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Address : |
S No. 37/I, Ghorpadi, Next to ABC Farm, Pune – 411036, Maharashtra,
India |
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Date of Birth/Age : |
13.03.1965 |
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Date of Appointment : |
21.11.2007 |
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Name : |
Mrs. Janki Parikh |
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Designation : |
Director |
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Address : |
63, Chandrakiran, Vallabh Nagar Society, N S Road, No.1 Juhu Parle
Scheme Vile Parle (West) Mumbai – 400056, Maharashtra, India |
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Date of Birth/Age : |
30.11.1980 |
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Date of Appointment : |
09.02.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 21.11.2007
|
Names of Shareholders |
|
No. of Shares |
|
Ankur Choksey |
|
42000 |
|
Hiloni Choksey |
|
66000 |
|
Preya Choksey (Minor) |
|
6000 |
|
Saumya Choksey (Minor) |
|
6000 |
|
Choksey Chemicals Private Limited |
|
210000 |
|
Aquanmarine Trading and Investment Private Limited |
|
2370000 |
|
Hindustan Mineral Products Company Limited |
|
60000 |
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Bhuvantray Investments and Trading Company Private Limited |
|
450000 |
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Gauriputra Investments and Trading Company Private Limited |
|
180000 |
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Aeonian Investments Company Limited |
|
507000 |
|
Ankita Choksey |
|
51000 |
|
Amit Choksey |
|
30000 |
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Amit Choksey HUF |
|
30000 |
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Priti Choksey |
|
51000 |
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Namrata Chosey |
|
51000 |
|
Mazda Colours Limited |
|
60000 |
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Janki Parekh |
|
60000 |
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Devki Trivedi |
|
60000 |
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Ritaben Parekh |
|
660000 |
|
Prem Sagar Hotels Private Limited |
|
661920 |
|
Manish Shah |
|
208080 |
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Apcotex Industries Limited |
|
120000 |
|
Ashivinaben Choksey |
|
60000 |
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Total |
|
6000000 |
(As on 31.03.2008)
|
Names of Allotted |
|
No. of Shares Allotted |
|
Aquamarine Trading and Investment Private Limited |
|
260000 |
|
Ms. Janaki Parekh |
|
120000 |
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Total |
|
380000 |
Equity Share Breakup (Percentage of Total Equity
(As on 31.03.2007)
|
Category |
|
Percentage |
|
Bodies Corporate |
|
76.99 |
|
Directors or relatives of director |
|
6.55 |
|
Others top fifty shareholders (other than listed above) |
|
16.46 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of entertainment and gaming zone |
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Agencies Held : |
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GENERAL
INFORMATION
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No. of Employees : |
50 |
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Bankers : |
·
Punjab National Bank, Large Corporate Branch, Brady House, V. N. Road,
Fort, Mumbai – 400023, Maharashtra, India ·
HDFC Bank Limited |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
Thingna and Contractor Chartered Accountant |
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Address : |
G-3, T V Industrial Estate, 248/A, S. K. Ahire Marg, Worli, Mumbai –
400030, Maharashtra, India |
CAPITAL STRUCTURE
As on 21.11.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
|
60.000 |
0.100 |
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2] Share Application Money |
|
0.000 |
44.442 |
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3] Reserves & Surplus |
|
20.000 |
0.0000 |
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4] (Accumulated Losses) |
|
(10.551) |
(0.855) |
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NETWORTH |
|
69.449 |
43.687 |
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|
LOAN FUNDS |
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1] Secured Loans |
|
2.523 |
0.000 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
2.523 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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|
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|
|
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TOTAL |
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71.972 |
43.687 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
35.611 |
0.097 |
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Capital work-in-progress |
|
10.548 |
13.131 |
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INVESTMENT |
|
0.927 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
|
0.000
|
0.000 |
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Sundry Debtors |
|
0.000
|
0.000 |
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Cash & Bank Balances |
|
16.350
|
21.555 |
|
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Other Current Assets |
|
0.000
|
0.000 |
|
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Loans & Advances |
|
9.361
|
11.027 |
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Total
Current Assets |
|
25.711
|
32.582 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Current Liabilities |
|
0.825
|
3.708 |
|
|
Provisions |
|
0.000
|
0.000 |
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Total
Current Liabilities |
|
0.825
|
3.708 |
|
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Net Current Assets |
|
24.886
|
28.874 |
|
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MISCELLANEOUS EXPENSES |
|
0.000 |
1.585 |
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TOTAL |
|
71.972 |
43.687 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
|
15.750 |
0.527 |
|
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Other Income |
|
0.000 |
0.090 |
|
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Total Income |
|
15.750 |
0.617 |
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|
|
|
|
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|
Profit/(Loss) Before Tax |
|
[10.400] |
[0.797] |
|
|
Provision for Taxation |
|
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
[10.400] |
[0.797] |
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Expenditures : |
|
|
|
|
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Administrative office |
|
0.000 |
1.360 |
|
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Employees Remuneration and Benefits |
|
0.000 |
0.046 |
|
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Depreciation & Amortization |
|
7.044 |
0.007 |
|
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Other Expenditure |
|
19.106 |
0.000 |
|
Total Expenditure |
|
26.150 |
1.414 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
|
[66.03] |
[129.17] |
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|
Net Profit Margin (PBT/Sales) |
(%) |
|
[66.03] |
[129.17] |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
[14.29] |
[1.74] |
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|
Return on Investment (ROI) (PBT/Networth) |
|
|
[0.15] |
[0.02] |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.05 |
0.08 |
|
|
|
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|
|
Current Ratio (Current Asset/Current Liability) |
|
|
31.16 |
8.79 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U92199MH2005PTC151707 |
|
Name of the
company |
CYBELE PARADISE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
111, Industrial Area, Sion (East), Mumbai – 400022, Maharashtra, India
|
|
This form is for |
Creation of charge |
|
Type of charge |
Movable Property All fixed and
current assets and Atria Mall |
|
Particular of
charge holder |
Punjab National Bank Large Corporate Branch, Brady House, V. N. Road, Fort, Mumbai –
400023, Maharashtra, India |
|
Nature of
instrument creating charge |
Hypothecation of
assets to secure Term Loan |
|
Date of instrument
Creating the charge |
19.02.2007 |
|
Amount secured by
the charge |
Rs.100.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: 12.75% p.a. on
Quarterly Basis Terms of
Repayment: Rs.5.555 Millions
(18 Quarterly Installment) Margin: 44% margin Extent and
Operation of the charge: Rs.100.000
Millions |
|
Particulars of
the property charged |
First charge on
the movable fixed assets and current assets of the company both present and future
|
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U92199MH2005PTC151707 |
|
Name of the
company |
CYBELE PARADISE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
111, Industrial Area, Sion (East), Mumbai – 400022, Maharashtra, India
|
|
Type of charge |
Movable Property Others |
|
Particular of
charge holder |
Punjab National Bank Large Corporate Branch, Brady House, V. N. Road, Fort, Mumbai –
400023, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation of
Assets to Secure Term Loan |
|
Date of
instrument Creating the charge |
19.02.2007 |
|
Amount secured by
the charge |
Rs. 100.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 12.75% p.a. on
Quarterly Basis Terms of
Repayment Rs. 5.555
Millions (18 quarterly installments) Margin 44% margin Extent and
Operation of the charge Rs. 100.000
Millions |
|
Short particulars
of the property charged |
First Charge on
the Movable Fixed Assets and Current Assets of the Company both present and
future (including project at Atira Mall) |
Fixed Assets:
·
Furniture and Fixture
·
Electrical Fittings
·
Office Equipments
·
Computer
·
Plant and Machinery
AS PER
WEBSITE
Profile:
Orama is the brainchild of Cybele Paradise Private Limited, part
of the Choksey Group, a well diversified business house having over 25 years’
presence in the specialty chemicals, pigments, building and construction
industries.
Established in 2005, Cybele Paradise marked the group’s entry into the leisure
and entertainment sector! The idea was to do something big, something
different, something unheard of and something that will make a world of
difference to the idea of wholesome family entertainment.
The company saw a pressing need for leisure and wholesome entertainment for the
urban family and thus, the idea of giving shape to hi-tech and imaginatively
designed Family Entertainment Centres (FEC) was born. A unique fun place that
ensures modern edutainment and recreational experience for the whole family,
right in the heart of the city. With Orama 4D, a beginning was made and since
then, there has been no looking back. A professionally managed company, Cybele
is a member of the International Association of Amusement Parks and Attractions
(IAAPA).
The company is led by the dynamic vision of Ankur Choksey and Janaki Parekh,
who bring a blend of youthful vivaciousness and world class ingenuity and
sophistication to every Orama FEC that they shape. For them and all the
dedicated professionals who are part of the Orama family, “entertainment is
serious business” and a matter of commitment to society and its future
citizens. Driven by the objective of ensuring ‘fun with safety and excellence’,
the company aims to set new To provide benchmarks for family entertainment in
its own inimitable way.
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.49.46 |
|
UK Pound |
1 |
Rs.73.17 |
|
Euro |
1 |
Rs.62.96 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
33 |
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 |
|