Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
FUTURE VALUE RETAIL LIMTED (w.e.f. 16.11.2009) |
Principal Name 1 |
Mr. Chandra Prakash Toshniwal |
|
Status |
Good |
Principal Name 2 |
Mr. Shailesh Haribhakti |
|
|
|
Registration # |
11-171524 |
|
Street Address |
Knowledge House, Shyam Nagar, Jogeshwari Vikhroli Link Road,
Jogeshwari (East), Mumbai-400060, Maharashtra |
||
|
Established Date |
11.06.2007 |
SIC Code |
-- |
|
Telephone# |
91-22-30841300 / 67840400 |
Business Style 1 |
Retail Chain Business of Food Items |
|
Fax # |
91-22-66442222 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
15 Approximately |
Product Name 2 |
-- |
|
Paid up capital |
66499912 |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate 100.00% |
Banking |
Bank of India |
|
Public Limited Corp. |
-- |
Business Period |
4 years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
Ba (52) |
|
Related
Company |
|||
|
Relation - Holding Company |
Country
-- |
Company
Name |
Pantaloon Retail (India) Limited |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
30.06.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
8,170,700,000 |
Current Liabilities |
7,673,200,000 |
|
Inventories |
11,325,400,000 |
Long-term Liabilities |
15,289,700,000 |
|
Fixed Assets |
12,070,300,000 |
Other Liabilities |
563,000,000 |
|
Deferred Assets |
0 |
Total Liabilities |
23,525,900,000 |
|
Invest& other Assets |
2,243,100,000 |
Retained Earnings |
9,618,600,000 |
|
|
|
Net Worth |
10,283,600,000 |
|
Total Assets |
33,809,500,000 |
Total Liab. & Equity |
33,809,500,000 |
|
Total Assets (Previous Year) |
283,091,000 |
|
|
|
P/L Statement as of |
30.06.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
29,917,100,000 |
Net Profit |
506,000,000 |
|
Sales(Previous yr) |
0 |
Net Profit(Prev.yr) |
(100,000) |
MIRA
INFORM REPORT
|
Report Date : |
20.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
FUTURE VALUE RETAIL LIMTED (w.e.f. 16.11.2009) |
|
|
|
|
Formerly Known as : |
PANTALOON FUTURE VENTURES LIMITED |
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|
|
|
Registered Office : |
Knowledge House, Shyam Nagar, |
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Country : |
|
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|
|
|
Financials (as on) : |
30.06.2010 |
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|
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|
Date of Incorporation : |
11.06.2007 |
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|
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|
Com. Reg. No.: |
11-171524 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 664.999 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U52100MH2007PLC171524 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMF05801F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAECP3041P |
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|
|
|
Legal Form : |
A Closely Held Pubic Limited Liability Company |
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|
Line of Business : |
Retail Chain Business of Food Items |
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|
|
No. of Employees : |
15 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 41134400 |
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|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of Pantaloon Retail (India) Limited. It is an established company having fine track. The company is doing well. Trade relations
are fair. Business is active. Payments are reported to be regular and as per
commitments. 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.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Laxmikant Somani |
|
Designation : |
Finance Officer |
|
Contact No.: |
91-22-30842324 |
LOCATIONS
|
Registered Office : |
Knowledge House, Shyam Nagar, |
|
Tel. No.: |
91-22-30841300 / 67840400 |
|
Fax No.: |
91-22-66442222 |
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E-Mail : |
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|
Website : |
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|
Branches : |
Located at:
|
DIRECTORS
AS ON 28.08.2010
|
Name : |
Mr. Chandra Prakash Toshniwal |
|
Designation : |
Director |
|
Address : |
A-603,Kanishka, Great Eastern Link, |
|
Date of Birth/Age : |
20.09.1966 |
|
Date of Appointment : |
11.06.2007 |
|
Date of Signing : |
30.09.2009 |
|
Other Directorship : |
|
|
|
Name : Pan India Restaurants Limited CIN No : U5510MH2005PLC151089 Name : Future Bazaar India Limited CIN No : U51900MH2006PLC159197 Name : Future Media ( CIN No : U74300MH2006PLC160375 Name : Convergem Retail ( CIN No : U52110MH2006PLC159581 Name : Future Logistic Solutions Limited CIN No : U63030MH2006PLC160376 Name : Myra Mall Management Company Limited CIN No : U52190MH2006PLC160415 Name : Pan India Food Solutions Private Limited CIN No : U55209MH2006PTC161530 Name : Shendra Infrastructure Development Private Limited CIN No : U45200MH2005PTC157267 Name : Future General India Life Insurance Company Limited CIN No : U66010MH2006PLC165288 Name : Future General India Insurance Company Limited CIN No : U66030MH2006PLC165287 Name: Manz Retail Private Limited (TRF) CIN No : U51909MH2005PTC156437 Name : Sain Marketing Network Private Limited CIN No : U51909MH2005PTC151869 Name : GJ Future Fashions Limited CIN No : U52190MH2006PLC160377 Name : Pantaloon Food Product ( CIN No : U15100MH2005PLC152599 |
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|
|
|
Name : |
Mr. Sanjay Rathi |
|
Designation : |
Director |
|
Address : |
C-6, Kaveri-Mahima, Bangur Nagar, Goregaon (West), Mumbai-400090, |
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Date of Birth/Age : |
06.05.1965 |
|
Date of Appointment : |
11.06.2007 |
|
Other Directorship : |
|
|
|
Name : EMMBI Polyarns Limited CIN No : U17120MH1994PTC083322 Name : MRM Corporate Advisor Private Limited CIN No : U74140PN2006PTC022176 Name : Neelpath Traders Private Limited CIN No : U99999WB1995PTC067435 Name : Future E-Commerce Infrastructure Limited CIN No: U52399MH2007PLC171178 |
|
|
|
|
Name : |
Mr. Rajesh Kalyani |
|
Designation : |
Director |
|
Address : |
D-48, Sagar Kiran, ONGC Colony, |
|
Date of Birth/Age : |
08.10.1969 |
|
Date of Appointment : |
11.06.2007 |
|
Date of Signing : |
30.09.2009 |
|
Other Directorship : |
|
|
|
Name : Anushta Mall Management Company Private Limited CIN No : U70100MH2005PTC156868 Name : Avruti Mall Management Company Private Limited CIN No : U45200MH2005PTC156839 Name : Bansi Mall Management Company Private Limited CIN No : U70100MH2005PTC156869 Name : Shagun Mall Management Company Private Limited CIN No : U70100MH2005PTC156886 Name : Suhani Mall Management Company Private Limited CIN No : U45200MH2005PTC156837 Name : Aashirwad Malls Private Limited CIN No : U70101GJ2004PTC045030 |
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|
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|
Name : |
Mr. Shailesh Haribhakti |
|
Designation : |
Director |
|
Date of Birth/Age : |
12.03.1956 |
|
Date of Appointment : |
27.08.2010 |
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|
|
|
Name : |
Mr. Raghu Pillai |
|
Designation : |
Director |
|
Date of Birth/Age : |
03.07.1957 |
|
Date of Appointment : |
15.12.2010 |
KEY EXECUTIVES
|
Name : |
Mr. Laxmikant Somani |
|
Designation : |
Finance Officer |
|
|
|
|
Name : |
Mrs. Rupali M Bhutade |
|
Designation : |
Secretary |
|
Date of Appointment : |
01.06.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.08.2010
|
Names of Shareholders |
No. of Shares |
|
Pantaloon Retail (India) Limited, Mumbai |
66499905 |
|
Pantaloon Retail ( |
1 |
|
Pantaloon Retail ( |
1 |
|
Pantaloon Retail ( |
1 |
|
Pantaloon Retail ( |
1 |
|
Pantaloon Retail ( |
1 |
|
Pantaloon Retail (India) Limited Jointly with Mr. Milind Budhakar |
1 |
|
Pantaloon Retail (India) Limited Jointly with Mrs. Rupali Bhutada |
1 |
|
Total |
66499912 |
AS ON 28.08.2010
|
Category |
Percentage |
|
|
|
|
Bodies corporate |
100.00 |
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Retail Chain Business of Food Items |
|
|
|
|
Brand Names : |
Big Bazaar |
GENERAL INFORMATION
|
No. of Employees : |
15 Approximately |
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Bankers : |
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Facilities : |
Rs. In Millions
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
NGS and Company Chartered Accountant |
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Address : |
B-46, 3rd Floor, Pravasi Industrial Estate, |
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Associates/Subsidiaries : |
Galaxy Entertainment Corporation Limited |
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|
|
|
Fellow Subsidiaries : |
·
FLSL
Distribution Services Limited ·
Future
Agrovet Limited ·
Future
Brands Limited (Till 22.05.2010) ·
Future
Capital Financial Services Limited ·
Future
Capital Holdings Limited ·
Future
Consumer Products Limited (Till 28.06.2010) ·
Future
E-Commerce Infrastructure Limited ·
Future
Knowledge Services Limited ·
Future
Learning and Development Limited ·
Future
Media (India) Limited ·
Future
Mobiles and Accessories Limited ·
Future
Supply Chain Solutions Limited (Formerly known as Future Logistic Solutions
Limited) ·
Futurebazaar
India Limited · Winner Sports Limited |
|
|
|
|
Holding Company : |
Pantaloon Retail ( CIN No.: L52399MH1987PLC044954 |
CAPITAL STRUCTURE
As on 30.06.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs. 10 each |
Rs. 1000.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
66499912 |
Equity Shares |
Rs. 10 each |
Rs. 664.999 millions |
Note:
Out of above 66499912 equity shares of Rs. 10
each fully paid up are held by Pantaloon Retail India Limited, the holding
company
26399912 equity sharea of RS. 10 each fully
paid up allotted as fully paid up Bonus sharews by capitalization of shares
premium
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2010 (15 Months) |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
665.000 |
21.000 |
19.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
9618.600 |
264.000 |
216.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(1.928) |
(1.886) |
|
|
NETWORTH |
10283.600 |
283.072 |
233.114 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
12976.300 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
2313.400 |
0.000 |
1.058 |
|
|
TOTAL BORROWING |
15289.700 |
0.000 |
1.058 |
|
|
DEFERRED TAX LIABILITIES |
563.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
26136.300 |
283.072 |
234.172 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
12070.300 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
2240.700 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.400 |
283.048 |
233.805 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
11325.400
|
0.000 |
0.000 |
|
|
Sundry Debtors |
1475.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
634.800
|
0.043 |
0.386 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
6060.900
|
0.000 |
0.000 |
|
Total
Current Assets |
19496.100
|
0.043 |
0.386 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3074.700
|
0.019 |
0.019 |
|
|
Current Liabilities |
4404.900
|
0.000 |
0.000 |
|
|
Provisions |
193.600
|
0.000 |
0.000 |
|
Total
Current Liabilities |
7673.200
|
0.019 |
0.019 |
|
|
Net Current Assets |
11822.900
|
0.024 |
0.367 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
26136.300 |
283.072 |
234.172 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2010 (15 Months) |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
29917.100 |
0.000 |
0.005 |
|
|
|
Other Income |
11.000 |
0.200 |
0.000 |
|
|
|
TOTAL (A) |
29928.100 |
0.200 |
0.005 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
22430.500 |
0.000 |
0.000 |
|
|
|
Office Expenses |
4071.600 |
0.300 |
0.010 |
|
|
|
Personal Expenses |
1144.600 |
0.000 |
1.881 |
|
|
|
TOTAL (B) |
27646.700 |
0.300 |
1.891 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2281.400 |
(0.100) |
(1.886) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1030.300 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1251.100 |
(0.100) |
(1.886) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
504.400 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
746.700 |
(0.100) |
(1.886) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
240.700 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
506.000 |
(0.100) |
(1.886) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
92.100 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
32.400 |
0.000 |
0.000 |
|
|
|
Others |
222.200 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.99 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2010 (15 Months) |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.69
|
(17.28) |
(37720) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.49
|
(17.28) |
(37720) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.36
|
(0.01) |
(0.80) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.00 |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.28
|
0.35 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.54
|
2.26 |
20.32 |
LOCAL AGENCY FURTHER INFORMATION
COMMENCEMENT OF
VALUE RETAIL BUSINESS
The Company is 100%
subsidiary of Pantaloon Retail (India) Limited (PRIL), a leading organized
retailer in the country. Pursuant to the
realignment plans of PRIL, Value Retail Business comprising of Big Bazaar, Food
Bazaar and other value retail formats such as Depot, Fashion@Big Bazaar,
Fashion Station, Health Village, Wholesale Club and Navras were transferred to
the Company with effect from 1st January 2010. The transfer of Value Retail
Business was warranted to ensure more focused approach towards the Value Retail
Business, which has reached a critical mass and needs to be identified
separately to ensure further growth of the said business.
BUSINESS OVERVIEW,
GROWTH AND EXPANSION
After purchase of
Value Retail Business from its holding company, Retail now forms the core
business activity of the Company. The
Company operates 125 Big Bazaar stores Food Bazaar as store in store in Big
Bazaar and other formats of the group, 30 Standalone Food Bazaar stores, and
other value formats in over 72 cities across the country, covering an
operational retail space of over 7.25 million square feet as on 31st March,
2010. “Big Bazaar” brand as inherited from its holding company, is a
hypermarket format that combines the look, touch and feel of Indian bazaars
with the choice and convenience of modern retail and believes in developing
strong insights on Indian consumers and building businesses based on Indian
ideas. We wish to continue the same image and convenience around this brand.
The Company,
through its various initiatives, aims to capture maximum share of consumer
spending through its various retail formats. Company’s modern retail formats
are offering all types of products and services to the customer thereby
increasing choice and consumption and resulting in acceleration of overall
economic growth. The Company, thus, intends to cater to various segments of the
consumer spending space in India by providing goods and services that a
customer would require at a convenient location and with appropriate ambience
to the said customer.Further, the Company has also taken over operations of
‘KB’s Fair price’, a retail format of foods and staples store with concept of
round the corner shop, with more than 100 standalone stores across select
cities. The specialty of these stores is to meet the customers’ daily food
requirements at lower prices comparing with national brands and local brands.
The Company proposes to expand KB’s Fair Price shops in select towns across the
nation. This acquisition was with the objective of going near to the customers.
As a focused entity driving the growth through value retail business, the
Company will continue to deliver more value to its all stakeholders and
communities across the country and shape the growth of modern retail in India
and for the Company itself.
FIXED ASSETS:
·
Building and Leasehold Improvement
·
Plant and Machinery
·
Office Equipments
·
Computers and Software
·
Furniture and Fittings
·
Vehicles
·
Air Conditioners
FORM 8
|
Corporate
identity number of the company |
U52100MH2007PLC171524 |
|
Name of the
company |
FUTURE VALUE RETAIL LIMTED (w.e.f. 16.11.2009) |
|
Address of the
registered office or of the principal place of business in |
Knowledge House, Shyam Nagar, Jogeshwari Vikhroli Link Road, Jogeshwari
(East), Mumbai-400060, Maharashtra |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Floating charge Others |
|
Particular of
charge holder |
Axis Bank, 2nd Floor E Wing, Axis House, Bombay Dying Mills
Compound, Pandurang Budhkar MArg, Worli, Mumbai 400025, Maharashtra, India |
|
Nature of
instrument creating charge |
Indenture of
Mortgage dated 25th March 2011 between the Company and Axis Bank Ltd(security
trustee) |
|
Date of
instrument Creating the charge |
25.03.2011 |
|
Amount secured by
the charge |
Rs. 1250.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest mutually agreed
between Company and the Lender Terms of repayment As per sanction
letter. Extent and operation of the charge The Company has
created residual charge on fixed assets (both movable & immovable) &
current assets in favour of Axis Bank Ltd. (security Trustee) to secure the
repayment of the working capital facilities of Rs. 125 Crores with all
interest, fees, premia, cost, charges, expenses. |
|
Short particulars
of the property charged (Including location of the property) |
Residual Charge
on fixed asset of the Company situated at Flat no 101, Bldg Ostwal Empire,
Boisar, Tal Palghar, Dist Thane and on current assets of the Company |
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.44.98 |
|
|
1 |
Rs.72.68 |
|
Euro |
1 |
Rs.64.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
52 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.