%20PRIVATE%20LIMITED%20-%20164019%2026-Dec-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
26.12.2011 |
IDENTIFICATION DETAILS
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Name : |
ORBITZ CORPORATE AND LEISURE TRAVELS ( |
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Registered
Office : |
201-202, Navyug Industrial Estate, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
23.11.2006 |
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Com. Reg. No.: |
11-165732 |
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Capital
Investment / Paid-up Capital : |
Rs.20.000
millions |
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CIN No.: [Company Identification
No.] |
U63040MH2006PTC165732 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMO04253E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is conducting International Trade Fair, |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 306000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade relations
are reported as fair. Business is active. Payments are reported to be slow
but correct. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office/ Head Office : |
201-202, Navyug Industrial Estate, |
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Tel. No.: |
91-22-24102801-02-03 |
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Fax No.: |
91-22-24102805 |
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E-Mail : |
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Website : |
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Branch Office : |
Located at: v Mumbai
Prabhadevi v Mumbai
Marine Lines v Ahmedabad v
v v Chennai v v v v
v
Kolkata v
v
Nashik v
v Pune v
Vadodara |
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Overseas Office : |
LOEHESTRASSE 63,
Hennef / Sieg, 53773 |
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Tel. No.: |
+49 2242 917661 –
662 |
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Fax No.: |
+49 2242905907 |
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E-Mail : |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Rupen Vasant Vikamsey |
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Designation : |
Director |
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Address : |
409, Neelkanth Apartments, B Wing, |
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Date of Birth/Age : |
12.05.1968 |
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Date of Appointment : |
23.11.2006 |
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DIN No.: |
00953233 |
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Other Directorship :
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Name : |
Mr. Ramesh Kumar Balasundram |
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Designation : |
Director |
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Address : |
No.1204, |
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Date of Birth/Age : |
15.09.1950 |
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Date of Appointment : |
16.02.2010 |
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DIN No.: |
02105550 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Rupen Vasant Vikamsey |
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1500000 |
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Kamlesh K. Vikamsey |
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250000 |
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Vipul V. Vikamsey |
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250000 |
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Total |
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2000000 |
As on 30.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company is conducting International Trade Fair, |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
v Abhyudaya
Co-Operative Bank Limited, Administrative Office, K.K. Tower, Abhyudaya Bank,
Lane, Off. G.D. Ambekar Marg, v
The
Zoroastrian Co-Operative Bank Limited v Arihant Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Dhanraj Jain and Company Chartered accountants |
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Income-tax
PAN of auditor or auditor's firm : |
AAAPJ4823C |
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Subsidiary Company : |
Orbitz Corporate and Leisure Travels FZE |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
|
1000000 |
9% Preference Shares |
Rs.10/- each |
Rs.10.000 millions |
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Total |
|
Rs.60.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
20.000 |
20.000 |
15.000 |
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2] Share Application Money |
50.000 |
5.000 |
0.000 |
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3] Reserves & Surplus |
6.511 |
3.274 |
1.520 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
76.511 |
28.274 |
16.520 |
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LOAN FUNDS |
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1] Secured Loans |
75.708 |
61.409 |
32.321 |
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2] Unsecured Loans |
11.913 |
13.209 |
8.857 |
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TOTAL BORROWING |
87.621 |
74.618 |
41.178 |
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DEFERRED TAX LIABILITIES |
0.525 |
0.913 |
0.317 |
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TOTAL |
164.657 |
103.805 |
58.015 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
60.481 |
51.544 |
11.159 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
17.228 |
15.826 |
12.495 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.170
|
0.235 |
1.587 |
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Sundry Debtors |
61.228
|
50.802 |
76.543 |
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Cash & Bank Balances |
5.899
|
2.132 |
23.147 |
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Other Current Assets |
0.773
|
0.444 |
25.723 |
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Loans, Advances & Deposits |
162.444
|
120.630 |
92.312 |
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Total
Current Assets |
230.514
|
174.243 |
219.312 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
57.236
|
48.078 |
25.552 |
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Other Current Liabilities |
79.537
|
54.213 |
59.751 |
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Provisions |
6.860
|
35.638 |
99.823 |
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Total
Current Liabilities |
143.633
|
137.929 |
185.126 |
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Net Current Assets |
86.881
|
36.314 |
34.186 |
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MISCELLANEOUS EXPENSES |
0.067 |
0.121 |
0.175 |
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TOTAL |
164.657 |
103.805 |
58.015 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Gross Revenue from Operations |
646.158 |
818.560 |
764.203 |
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Foreign Exchange Gain/ Loss |
1.347 |
(1.746) |
(0.982) |
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TOTAL |
647.505 |
816.814 |
763.221 |
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Less |
EXPENSES |
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Cost of Operations |
522.195 |
668.571 |
613.554 |
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Administration and Other Expenses including Interest |
116.320 |
141.189 |
143.632 |
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TOTAL |
638.515 |
809.760 |
757.186 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
8.990 |
7.054 |
6.035 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
4.166 |
3.064 |
2.367 |
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PROFIT BEFORE
TAX |
4.824 |
3.990 |
3.668 |
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Less |
TAX |
1.587 |
2.237 |
2.523 |
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PROFIT AFTER TAX
|
3.237 |
1.753 |
1.145 |
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EARNINGS IN
FOREIGN CURRENCY |
EURO
619033 USD
945784 |
EURO
1479760 USD
2674916 |
EURO
2297557 USD
3139586 |
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Earnings Per
Share (Rs.) |
1.62 |
1.17 |
0.76 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.50
|
0.21 |
0.15 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.66
|
1.77 |
1.59 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.14 |
0.22 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.02
|
7.52 |
13.70 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.60
|
1.26 |
1.18 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS REVIEW
The Company
continued to see strong and profitable growth in the financial year 2009-2010
across all markets driven by good performance in existing and new areas of
business.
For the year ended
March 31, 2010, the Company earned a total income of Rs.646.158 millions as
compared to previous years' turnover of Rs.818.560
millions. There is a decrease in turnover of 21.06%.
Far the year ended
March 31, 2010, the Company's net profit before tax is Rs.4.824 millions as compared to previous year's net profit of
Rs.3.990 millions.
During the year
the Company has led some of the India's largest trade delegations to the
world's leading trade fain like CPHL (Pharmaceutical industry), HANNOVER
(Engineering Industry), AGRITECH (Agricultural Industry), ANUGA (Food
Industry), ACHEMA (Chemical Industry), CHINA PLAS (Plastic Industry), CANTON
(Consumer Industry).
The Company's
online portal has satisfied more customers through Premium Rajasthan Holidays,
Premium Kerala Holidays, Private Europe Van Tours, Premium Exotic Destinations.
Special congrats
to the German office who made all their contracts to be a part of this young
and dynamic team. Three cheers to all their Indian branch offices and to the
overseas offices of
The continuous
innovation on the product side together with the expertise and experience help
them to stand as complete MICE operator in Indian Market.
FINANCE
1) The Company's
liquidity position remained comfortable during the year. Investment in Fixed
Deposits with bank's stood at Rs.14.311 millions at year end. In addition, cash
and bank balances also stood at a comfortable level of Rs.5.899 millions.
2) In view of the
comfortable liquidity position, the Company was not impacted by the volatility
of interest rates in the economy and tightening of liquidity.
3) During the
year, due to Rupee appreciation / depreciation against US Dollar, the Company was
earned by the fluctuations in the exchange rates amounting to Rs.1.347
millions. The Company has no exposure to derivatives.
FORM 8:
|
Corporate
identity number of the company |
U63040MH2006PTC165732 |
|
Name of the
company |
ORBITZ CORPORATE AND LEISURE TRAVELS ( |
|
Address of the
registered office or of the principal place of business in |
201-202, Navyug Industrial Estate, E-Mail: mail@manojmehta.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10154345 |
|
Type of charge |
Book Debts |
|
Particular of
charge holder |
Abhyudaya Co-Operative
Bank Limited, Administrative Office, K.K. Tower, Abhyudaya Bank, Lane, Off.
G.D. Ambekar Marg, |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation of
Stock and Book-Debts Agreement |
|
Date of
instrument Creating the charge |
28.09.2010 |
|
Amount secured by
the charge |
Rs.42.500
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Rate of Interest:
14% p.a. with monthly rests, or at such other rate, as may be fixed by the
Bank from time to time. Margin: Margin : 40% Extent and
Operation of the charge: To secure the due
repayment of Cash Credit facility of Rs.42.500 millions (enhanced from
Rs.35.000 millions), together with interest, all costs, charges and expenses
thereon, granted by the Bank to the Company. |
|
Short particulars
of the property charged |
All, present and
future, Book Debts of the Company |
|
Particulars of
the present modification |
This Charge shall
now also hold good to secure the due repayment of additional Cash Credit facility
of Rs.7.500 millions granted to the Company. Hence, the Cash Credit facility
has been enhanced from Rs.35.000 millions to Rs.42.500 millions. Therefore,
the overall charge now stands at Rs.42.500 millions. |
FIXED ASSETS:
v
Refrigerator
v
Furniture and Fixtures
v
Electrical Installation
v
Air Conditioner
v
Office Equipments
v
Computer
v
v
CWIP
WEBSITE DETAILS:
PROFILE:
They introduce a new era to the Indian business and leisure
travellers by bringing world class services. Their sincere efforts and the
niche concept of business tours helped to open avenues to technological
progress in
Indian businesses grew globally competitive, witnessed improved efficiency and
enjoyed enhanced profitability.
They are also pioneering in Premium Customised Holidays - international and domestic. A niche brand aimed at serving the new-age traveller who's looking at qualitative and value-added holidays. He wants to provide himself and his loved ones an exquisite holiday experience with no parallel.
Hence, Subject caters to more than just the travel needs of individuals, groups or institutions. All its services are meticulously conceived and immaculately rendered. Today, Subject is a leading M.I.C.E. and Premium Holidays company, that's totally committed to provide a wholesome and fulfilling experience to everyone...every time.
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 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.52.72 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.68.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
27 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.