MIRA INFORM REPORT

 

 

Report Date :

19.02.2011

 

IDENTIFICATION DETAILS

 

Name :

DELLA DEVELOPERS PRIVATE LIMITED

 

 

Registered Office :

Della House, Sleater Road Opposite Sleater Road Post Office Grant Road (West), Mumbai – 400007, Maharashtra, India

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

23.01.2006

 

 

Com. Reg. No.:

159159

 

 

CIN No.:

[Company Identification No.]

U45200MH2006PTC159159

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMD1352C

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Real Estate Developers.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C (07)

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

No Business Activity

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Though the company was incorporated in the year 2006, the company has not started its business activity. Payments terms are not known.

 

The company can be considered for business dealings on a safe and secured trade terms and conditions.

 

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 – April 1, 2010

 

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

LOCATIONS

 

Registered Office :

Della House, Sleater Road Opposite Sleater Road Post Office Grant Road (West), Mumbai – 400007, Maharashtra, India

Tel. No.:

91-22-66699300

Website :

jimmy@dellatecnica.com

 

 

 

 

DIRECTORS

 

AS ON 30.09.2010

 

Name :

Mr. Mistry Rusi Jimmy

Designation :

Director

Address :

781, M. Joshi Road, Parsi Colony, Dadar East, Mumbai – 400014, Maharashtra, India

Date of Birth/Age :

12.06.1971

Date of Appointment :

23.01.2006

 

 

Name :

Mrs. Mistry Jimmy Delna

Designation :

Director

Address :

781, M. Joshi Road, Parsi Colony, Dadar East, Mumbai – 400014, Maharashtra, India

Date of Birth/Age :

08.09.1969

Date of Appointment :

23.01.2006

 

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2010

 

Names of Shareholders

 

No. of Shares

Mistry Rusi Jimmy

 

5000

Mistry Jimmy Delna

 

5000

 

 

 

Total

 

10000

 

AS ON 30.09.2010

 

Category

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

0.00

Bodies corporate

0.00

Directors or relatives of Directors

100.00

Other top fifty shareholders

0.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Real Estate Developers

 

 

 

 

GENERAL INFORMATION

 

Bankers :

Not Available

 

 

Facilities :

Unsecured Loan

 

Rs. In Millions

31.03.2010

Rs. In Millions

31.03.2009

From a Company

(due to company under same management amount due Rs. 20.167 millions )

--

--

From a Directors

0.019

0.020

 

 

 

Total

0.019

0.020

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

A. P. Dalal and Company

Chartered Accountant

Address :

645, J.S.S. Road, 2nd Floor, Room No. 12A, Near Dhobi Talao, Mumbai – 400002, Maharashtra, India

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

Rs.10/- each

Rs. 0.100 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

Rs.10/- each

Rs. 0.100 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2010

31.03.2009

31.03.2008

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

0.100

0.100

0.100

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

0.000

0.000

0.000

4] (Accumulated Losses)

(1.681)

(1.001)

(0.012)

NETWORTH

(1.581)

(0.901)

0.088

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

0.019

0.020

18.920

TOTAL BORROWING

0.019

0.020

18.920

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

(1.562)

(0.881)

19.008

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

0.000

0.000

0.000

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
0.000

0.000

0.000

 

Sundry Debtors
0.000

0.000

0.000

 

Cash & Bank Balances
0.010

0.527

0.464

 

Other Current Assets
0.000

0.000

0.000

 

Loans & Advances
18.747

18.747

18.537

Total Current Assets
18.757

19.274

19.001

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Other Current Liabilities
20.337

20.174

0.011

 

Provisions
0.000

0.000

0.000

Total Current Liabilities
20.337

20.174

0.011

Net Current Assets
(1.580)

(0.900)

18.990

 

 

 

 

MISCELLANEOUS EXPENSES

0.018

0.019

0.018

 

 

 

 

TOTAL

(1.562)

(0.881)

19.008

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2010

31.03.2009

31.03.2008

 

SALES

 

 

 

 

Income

NIL

NIL

NIL

 

 

Other Income

 

 

 

 

 

TOTAL                                    

NIL

NIL

NIL

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Administration and Other Expenses

0.680

0.989

0.007

 

 

TOTAL                                    

0.680

0.989

0.007

 

 

 

 

 

 

PROFIT BEFORE TAX

(0.680)

(0.989)

(0.007)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

--

(0.012)

(0.005)

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

--

(1.001)

(0.012)

 

 

 

 

 

 

Earnings Per Share (Rs.)

--

(98.90)

--

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

Return on Total Assets

(PBT/Total Assets}

(%)
(3.62)

(5.13)

(0.03)

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
(0.43)

(1.09)

(0.07)

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
12.87

22.41

215.12

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
0.92

0.95

1727.36

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Financial Results :

 

During the year, the company did not do any business due to the unfavorable conditions beyond the control of the company. This year strive to do more and more business.

 

 

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. 45.18

UK Pound

1

Rs. 73.04

Euro

1

Rs. 61.43

 

 

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

--

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

--

--PROFITABILIRY

1~10

--

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

1

--RESERVES

1~10

--

--CREDIT LINES

1~10

--

--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

 

07

 

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

-

 

 

 

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.