MIRA
INFORM REPORT
|
Report Date : |
17.05.2011 |
Note:
“Treatotel is the Brand Name of the Subject
Company.
IDENTIFICATION DETAILS
|
Name : |
SHREE HOSPITALITY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1 L K Co Op Housing Society Limited, B/h |
|
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
18.06.2008 |
|
|
|
|
Com. Reg. No.: |
04-054235 |
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|
|
|
Paid-up Capital
: |
Rs. 55.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U55101GJ2008PTC054235 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS16641C |
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|
|
|
PAN No.: [Permanent Account No.] |
AAMCS4627G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Hospitality Services |
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|
No. of Employees
: |
100 [In Office] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Recently commenced business |
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|
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
As per available details. The company has started its commercial
activities in the financial year 2009-10. Trade relations are reported as
fair. Business is active. Payments are reported to be slow. Initially, the company can be considered for business on a 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Yatin |
|
Designation : |
Director |
|
Date : |
16.05.2011 |
LOCATIONS
|
Registered Office : |
1 L K Co Op Housing Society Limited, B/h |
|
Tel. No.: |
91-79-27462452/30488882 |
|
Mobile No.: |
91-9974544339 (Mr. Yatin) |
|
Fax No.: |
91-79-27462453 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As On 28.09.2009
|
Name : |
Mr. Yatin Patel |
|
Designation : |
Director |
|
Date of Birth/Age : |
53 Years |
|
|
|
|
Name : |
Mr. Girish Bhailalbhai Thakkar |
|
Designation : |
Director |
|
Address : |
6, Avani Row House, B/H. Satellite Tower, Near Satelitte Complex,
Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
20.08.1959 |
|
Date of Appointment : |
18.06.2008 |
|
DIN No.: |
00194593 |
|
|
|
|
Name : |
Mrs. Shriti Yatinbhai Patel |
|
Designation : |
Chairman and Director |
|
Address : |
2, Suvern Nagar Society, Memnagar Road, St. Xaviers High School,
Ahmedabad – 380052, Gujarat, India |
|
Date of Birth/Age : |
02.10.1961 |
|
Date of Appointment : |
18.06.2008 |
|
DIN No.: |
02215165 |
|
|
|
|
Name : |
Mr. Ghanshyam Bhailalbhai Thakkar |
|
Designation : |
Director |
|
Address : |
14/A, Jayambe Cooperative Housing Society Limited, Near Bodakdev Gram
Panchayat Thaltej, Ahmedabad, |
|
Date of Birth/Age : |
53 Years |
|
Date of Appointment : |
18.06.2008 |
|
DIN No.: |
00140038 |
|
|
|
|
Name : |
Mr. Jaysukhbhai Laljibhai Jagani |
|
Designation : |
Director |
|
Address : |
D/1/6, Dwarkesh Appartment, Opposite Pushpak Bunglows, Near Lad
Society, Bodakdev, Ahmedabad – 380054, |
|
Date of Birth/Age : |
01.02.1961 |
|
Date of Appointment : |
18.06.2008 |
|
DIN No.: |
02120161 |
|
|
|
|
Name : |
Mr. Mainesh Dhirubah Patel |
|
Designation : |
Director |
|
Address : |
15, |
|
Date of Birth/Age : |
26.04.1970 |
|
Date of Appointment : |
18.06.2008 |
|
DIN No.: |
02099747 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 28.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Girish Thakkar |
|
52500 |
|
Ghanshyam Thakkar |
|
52500 |
|
Mainesh Patel |
|
500000 |
|
Jaysukhbhai Jagani |
|
350000 |
|
Yatin Patel |
|
499999 |
|
Shriti Patel |
|
500000 |
|
Rajdev Patel |
|
500000 |
|
Y. P. Patel and Associates – |
|
1 |
|
Y. P Pate HUF |
|
1250000 |
|
Inumatiben B. Thakkar |
|
229000 |
|
Bhanumati B. Thakkar |
|
229000 |
|
Miraben V. Thakkar |
|
229000 |
|
Vandanaben M. Thakkar |
|
229000 |
|
Kusumben G. Thakkar |
|
177000 |
|
Shilpaben G. Thakkar |
|
177000 |
|
Nainaben Jagani |
|
112500 |
|
Maheshbhai Jagani |
|
112500 |
|
Tejalben Patel |
|
112500 |
|
Parulben Patel |
|
187500 |
|
Total |
|
5500000 |
As On 28.09.2009
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Hospitality Services |
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|
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|
Brand Names : |
“Treatotel” |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Credit Card |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
100 [In Office] |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
P. M. Patel and Company Chartered Accountant |
|
|
|
|
Name : |
Dalal and Associates Chartered Accountant |
|
Address : |
A/4/2, Prarambh Complex, Opposite Swastik Society, Navrangpura,
Ahmedabad – 380009, |
|
Pan No.: |
ADQPD5319J |
CAPITAL STRUCTURE
As On 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
Rs. 10/- each |
Rs. 55.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
Rs. 10/- each |
Rs. 55.000 Millions |
|
|
|
|
|
Note:
Company was incorporated with Authorised
Capital of Rs. 2.500 millions. Subsequently the authorised capital was
increased upto Rs. 55.000 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
55.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
55.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
78.172 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
78.172 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
133.172 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
131.745 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.258 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
2.473 |
|
Total
Current Assets |
|
|
2.731 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
3.762 |
|
|
Other Current Liabilities |
|
|
0.360 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
4.122 |
|
|
Net Current Assets |
|
|
(1.391) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
2.818 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
133.172 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
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|
Other Income |
|
|
|
|
|
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TOTAL |
|
|
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
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|
|
|
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Administrative Expenses |
|
|
|
|
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Advertising Expenses |
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TOTAL |
|
|
0.010 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
(0.010) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
(0.010) |
|
|
Particulars |
|
|
31.03.2010 |
|
Sales Turnover |
|
|
20.000 |
|
|
|
|
|
Expected Sales (2010-11) : Rs. 25.000 Millions
The above information has been parted by Mr. Yatin
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2009 |
|
PAT / Total Income |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(0.37) |
|
|
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|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
1.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
0.66 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL POSITION
The company has not commenced any business
activity during the period. So, Profit and Loss account has not been
prepared. However, the Directors are making efforts to implement the
Project. The Board of
Direct on regret their inability
to declare any dividend due to business
activity and operation are yet to
be started.
Form 8:
|
Corporate
identity number of the company |
U55101GJ2008PTC054235 |
||||||
|
Name of the
company |
SHREE HOSPITALITY
PRIVATE LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
1 L K Co Op
Housing Soc Ltd, B/h Sterling Hospital Opp Shakamba Tower, Gurukul Road,
Memnagar, Ahmedabad - 380052,
Gujarat, India |
||||||
|
This form is for |
Modification of
charge |
||||||
|
Type of charge |
Book Debts Movable Property Floating Charge |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of
instrument creating charge |
Letter of
arrangement |
||||||
|
Date of
instrument Creating the charge |
01.06.2010 |
||||||
|
Amount secured by
the charge |
Rs. 93.000
Millions |
||||||
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- WC : 2.50% above SBAR [SBAR 11.75% w.e.f 29.6.2009 present effective rate 14.25%
p.a. Term loan : as
prescribed by bank Terms of
Repayment - working captial repayable on demand Term loan as per
existing scheme Margin - raw
material indigenous 25% Domestic
receivables [120 days] 50% Extent and
Operation of the charge - the charge created in favou of State Bank of Others |
||||||
|
Description of
the property charged indicating whether it is a charged on |
|
||||||
|
Particulars of
the property charged |
hypothecation of
current assets of the company immovable property
being land adm. in aggregate 1478.04 sq.mtrs. comprising of (i) sub plot no.1
adm.811.62 sq.mtrs.(ii) sub plot no.2 adm.382.92 sq.mtrs. & (iii) sub
plot no.3, adm.283.50 sq.mtrs. together with
present and future construction standing thereon situated in l.k. co.op.
housing society limited on land
bearing f.p. no.158 of t.p. scheme no.1 at memnagar, Ahmedabad |
||||||
|
Date of
instrument modifying the charge |
02.12.2008 |
||||||
|
Particulars of
the present modification |
The original
charge reduced to Rs.93.000 millions comprising cash credit of Rs.9.000
millions and term loan [present outstanding] Rs. 84.000 millions. |
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.45.07 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs.63.57 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
1 |
|
--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 |
|
11 |
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.