MIRA
INFORM REPORT
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Report Date : |
03.03.2011 |
IDENTIFICATION DETAILS
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Name : |
DELLA ADVENTURE PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
07.10.2009 |
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Com. Reg. No.: |
11-196309 |
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CIN No.: [Company Identification
No.] |
U92490MH2009PTC196309 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD17509C |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Resorts. |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Yet to commence |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
As per last available financials, the company is in under construction
stage and hence yet not started its commercial activities. Payment 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) |
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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 : |
Della Tower, 4th Floor, 795 Parsi Colony, Jame Jamshed
Road, Dadar (East), Mumbai-400014, Maharashtra, India |
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Tel. No.: |
91-22-67451400 / 66699300 |
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E-Mail : |
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Website : |
DIRECTORS
As On : 29.09.2010
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Name : |
Mr. Jimmy Rusi Mistry |
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Designation : |
Director |
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Address : |
781, M. Joshi Road, Parsi Colony, Dadar (East), Mumbai-400014,
Maharashtra, India |
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Date of Birth/Age : |
12.06.1971 |
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Date of Appointment : |
25.09.2009 |
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DIN No : |
01508328 |
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Name : |
Ms. Delna Jimmy Mistry |
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Designation : |
Director |
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Address : |
781, M. Joshi Road, Parsi Colony, Dadar (East), Mumbai-400014,
Maharashtra, India |
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Date of Birth/Age : |
08.09.1969 |
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Date of Appointment : |
25.09.2009 |
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DIN No : |
01434975 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2010
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Names of Shareholders |
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No. of Shares |
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Mr. Jimmy Rusi Mistry |
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5000 |
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Ms. Delna Jimmy Mistry |
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5000 |
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Total |
|
10000 |
AS ON 20.03.2010
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Name of Allottee |
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No. of Shares |
|
Della Tecnica Interior Design and Project Management Private Limited,
India |
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7990000 |
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Total |
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7990000 |
AS ON 29.09.2010
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Names of Preference Shareholders |
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No. of Shares |
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Della Enclave Private Limited, India |
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301000 |
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Total |
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301000 |
AS ON 29.09.2010
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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 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Resorts. |
GENERAL INFORMATION
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Bankers : |
v Bank of Baroda, Bhulabhai
Desai Road Branch, 47, Sarasvati Sadan B Desai Road, Mumbai-400026,
Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
A.
P. Dalal and Company Chartered Accountant |
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Address : |
645, J.S.S. Road, 2nd Floor, Room No.12A, Near Dhobi Talao,
Mumabi-400002, Maharashtra, India |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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8000000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000 millions |
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700000 |
6% Redeemable Preference Share |
Rs. 100/- each |
Rs. 70.000 millions |
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Rs. 150.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100
million |
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As On : 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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8000000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000 millions |
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700000 |
6% Redeemable Preference Share |
Rs. 100/- each |
Rs. 70.000 millions |
|
|
|
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Rs. 150.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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8000000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.00
millions |
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301000 |
Preference Shares |
Rs. 100/- each |
Rs. 30.100
millions |
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|
|
Rs. 110.100 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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|
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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62.177 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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62.277 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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62.277 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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169.092 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.226 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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8.937 |
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Total
Current Assets |
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9.163 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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101.494 |
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Other Current Liabilities |
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14.484 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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115.978 |
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Net Current Assets |
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(106.815) |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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62.277 |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.86 |
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Current Ratio (Current Asset/Current Liability) |
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0.08 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS
:
As the Company in under construction stage and hence no commercial
operation have been carried out during the year.
FORM 8
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Corporate
identity number of the company |
U92490MH2009PTC196309 |
|
Name of the
company |
Della
Adventure Private Limited |
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Address of the
registered office or of the principal place of business in |
Della Tower, 4th Floor, 795 Parsi Colony, Jame Jamshed
Road, Dadar (East), Mumbai-400014, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
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Particular of
charge holder |
Bank of Baroda, Bhulabhai Desai Road Branch, 47, Sarasvati Sadan B
Desai Road, Mumbai-400026, Maharashtra, India |
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Nature of
instrument creating charge |
Deed
of Simple Mortgage dated August 6, 2010 |
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Date of
instrument Creating the charge |
06.08.2010 |
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Amount secured by
the charge |
Rs.500.000 millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 2.50%
over BPLR, at present 14.50% p.a. with monthly rests subject to change as per
revision in BPLR/spread/ Credit rating of the company from time to time. Terms of
repayment Term
Loan is repayable in 16 quarterly Installment. Out
of which first 12 equal installments of Rs. 25.000 millions and the last 4
equal quarterly installments will be Rs. 50.000 millions each. Repayment
to commence after one year from first disbursement. Margin 37.50
% of the project cost (Overall Margin) 13.75%
of the project cost in the form of equity Extent and
operation of the charge As
per Simple Deed of Mortgage (SDM)and Sanction Letter attached |
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Short particulars
of the property charged (Including location of the property) |
LandatVillageKunenama,S.no130(3)(4),131(5)Taluka
Maval, Maval, Pune, Grp Gram Panchayat, Varsoli, more particularly described
in Prt B of 1st sh to SDM |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.12 |
|
|
1 |
Rs.73.43 |
|
Euro |
1 |
Rs.62.32 |
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.