MIRA
INFORM REPORT
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Report Date : |
15.07.2011 |
Note : Registered office of the company has been
shifted from 156/157, Maker Chambers VI, Nariman Point, Mumbai – 400021,
IDENTIFICATION DETAILS
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Name : |
TPG WHOLESALE PRIVATE LIMITED (w.e.f. 21.09.2010) |
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Formerly Known
As : |
MICRONET INFRASTRUCTURE PRIVATE LIMITED |
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Registered
Office : |
704, Platina, Plot No. C – 59, G – Block, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, |
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Country : |
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Date of
Incorporation : |
31.05.2010 |
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Com. Reg. No.: |
203551 |
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Capital
Investment / Paid-up Capital : |
Rs.2159.439 Millions |
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CIN No.: [Company Identification
No.] |
U51909MH2010PTC203551 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT16416B |
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PAN No.: [Permanent Account No.] |
AAGCM7158Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
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Cash and Carry Wholesale Trading Operation |
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No. of Employees
: |
Information not divulged by the management |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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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Status : |
New Company |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a result of acquisition of Vishal Retail Limited by private
equity firm TPG and In view of strong promoters, the company can be considered normal for
business dealings at usual 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.
INFORMATION DENIED BY
Management is non Co-operative.
LOCATIONS
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Registered Office : |
704, Platina, Plot No. C – 59, G – Block, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, |
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Tel. No.: |
91-22-40391000 |
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Fax No.: |
91-22-40391001 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Amol Jain |
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Designation : |
Director |
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Address : |
Flat No. 12, Merry |
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Date of Birth/Age : |
16.12.1972 |
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Date of Appointment : |
04.03.2011 |
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DIN No. : |
00334710 |
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Name : |
Mr. Harish Sharma |
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Designation : |
Director |
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Address : |
P – 202, Gokul Village III CHS, Shanti Park, Mira Road (East), Thane –
401107, Maharashtra, India |
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Date of Birth/Age : |
15.04.1970 |
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DIN No. : |
02952241 |
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Name : |
Mr. Dinanath Yadav |
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Designation : |
Director |
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Address : |
Room No. 105, Nancy Muncy Chawl, |
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Date of Birth/Age : |
01.02.1976 |
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DIN No. : |
01719531 |
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Name : |
Mr. |
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Designation : |
Director |
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Address : |
B – 2/6, Vasant Vihar, R. K. Puram, New Delhi – 110057, Delhi, India |
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Date of Birth/Age : |
28.10.1947 |
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Date of Appointment : |
01.06.2011 |
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DIN No. : |
00350100 |
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Name : |
Mr. Gurender Kapur |
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Designation : |
Director |
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Address : |
29, CCI Chambers, |
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Date of Birth/Age : |
19.01.1961 |
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Date of Appointment : |
01.06.2011 |
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DIN No. : |
01927304 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Harish Sharma |
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5000 |
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Dinanath Yadav |
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2500 |
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Chudman Anandrao Umredkar |
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2500 |
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Total |
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10000 |
List of Allotees (As on 11.03.2011)
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Names of Shareholders |
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No. of Shares |
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TPG VW Limited |
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215933903 |
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Total |
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215933903 |
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Cash and Carry Wholesale Trading Operation |
GENERAL INFORMATION
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No. of Employees : |
Information not divulged by the management |
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Bankers : |
State Bank of |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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260000000 |
Equity Shares |
Rs.10/- each |
Rs.2600.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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215943903 |
Equity Shares |
Rs.10/- each |
Rs.2159.439
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
New company
LOCAL AGENCY FURTHER INFORMATION
Form 8 :
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Corporate
identity number of the company |
U51909MH2010PTC203551 |
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Name of the
company |
TPG WHOLESALE PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
704, Platina, Plot No. C – 59, G – Block, Bandra Kurla Complex, Bandra
(East), Mumbai – 400051, |
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This form is for |
Creation
of charge |
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Type of charge |
Book Debts Movable property Floating charge |
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Particular of
charge holder |
State Bank of |
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Nature of
instrument creating charge |
Unattested Deed
of Hypothecation |
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Date of
instrument Creating the charge |
14.03.2011 |
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Amount secured by
the charge |
Rs.3117.400
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest
: 7.5% p.a. with
monthly rests for facility B (Rs.585.000 Millions), 7.5% p.a. with monthly
rests for facility C (Rs.1941.400 Millions) and 7.5% p.a. of facility E
(Rs.591.000 Millions) Terms of
repayment : For each facilities
B, C and E, repayment shall take place in 21 unequal quarterly installments,
the first installment being payable on June 30, 2014 an the last installment
being payable on June 30, 2019. |
PRESS RELEASE :
TPG, Shriram Group buy Vishal Retail
14.03.2011
TPG Wholesale Private Limited and
Shriram Group have completed the acquisition of debt-ridden Vishal Retail Limited
While TPG has acquired the wholesale and franchise undertaking of Vishal
Retail, Airplaza Retail Holdings Private Limited, a part of Shriram Group, has
acquired the retail undertaking of Vishal.
TPG will invest Rs.2,000 mn into TPG Wholesale to fund the turnaround of its
business and its future growth. These transactions are the result of Vishal
Retail’s debt restructuring, which started in November 2009 under a CDR process
led by SBI, on behalf of certain lenders of Vishal Retail. These transactions
have been approved by the Board and shareholders of Vishal Retail and accepted
by bank creditors.
TPG Wholesale will operate the back-end sourcing, merchandising, logistics and
franchise operations, while Airplaza Retail will operate retail shops alongside
other franchisee partners currently operating Vishal branded stores. TPG
Wholesale will be the franchisor to Airplaza Retail and the existing franchisee
partners of the business.
The Vishal Megamart branded retail operations will comprise over 150 stores
throughout the country operated by both Airplaza and over 20 other franchise
partners. A majority of stores are in tier II and III towns and cities around
the country. The store offerings comprise everyday apparel, food and grocery
and general merchandise lines.
Puneet Bhatia, MD, TPG Capital India, said, “TPG brings a wealth of experience
in managing and operating a multitude of businesses from across the world,
including a track record of turning around and transforming a number of
portfolio companies. TPG will leverage its resources and know-how and extend
all kind of support to the new management to bring the business back onto a growth
path.”
Gunender Kapur, CEO, TPG Wholesale, said, “Along with strong investors, Vishal
Retail now has an enviable pool of top domestic and international industry
talent and experiences to tap into. Despite the challenges, we are confident of
rebuilding the financial and operational health of the business relatively
quickly. Our vision is to offer nothing short of the highest-quality value
experience for our customers.”
Arun Duggal, chairman, Shriram Group, said, “We are delighted that the
restructured Vishal will be able to continue and grow its operations for the
benefit of its customers, employees, suppliers and the communities where its
stores are located. Vishal has a strategic fit for Shriram Group because its
stores are located in small cities which are also our serving areas.”
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 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
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.53 |
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|
1 |
Rs.71.80 |
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Euro |
1 |
Rs.63.15 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.