MIRA
INFORM REPORT
|
Report Date : |
28.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
ICICI HOME FINANCE COMPANY LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
28.05.1999 |
|
|
|
|
Com. Reg. No.: |
11-120106 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 10987.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65922MH1999PLC120106 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI04738G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
The company is engaged in the business of providing loans for
purchase, construction, repairs and renovation etc., of houses / flats to individuals,
corporate bodies, builders and co-operative housing societies. |
|
|
|
|
No. of
Employees: |
Information
declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 53000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ICICI Bank Limited. It is an established company
having fine track records. Trade relations are reported as 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.
INFORMATION DECLINED BY
Unable to Contact the company
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-22-26531414 |
|
Fax No.: |
91-22-26531215 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 15.06.2011
|
Name : |
Mr. Sachin Khandelwal |
|
Designation : |
Managing Director |
|
Address : |
No.11A, Peregrine 400, Veer Savarkar Marg, Behind Kohinoor Hotel, Prabhadevi,
Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
04.03.1967 |
|
Date of Appointment : |
04.01.2011 |
|
DIN No.: |
00055621 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74130KA2006PTC059425 |
LOYALTY
SOLUTIONS AND RESEARCH PRIVATE LIMITED |
Director |
27-09-08 |
04-09-08 |
Active |
NO |
|
2 |
U74140MH2008NPL188938 |
SYDENHAM
INSTITUTE OF MANAGEMENT ALUMNI ASSOCIATION |
Director |
16-12-08 |
16-12-08 |
Active |
|
|
3 |
U65922MH1999PLC120106 |
ICICI
HOME FINANCE COMPANY LIMITED |
Managing
director |
15-06-11 |
29-12-08 |
Active |
NO |
|
Name : |
Mr. Jayesh Manhar Gandhi |
|
Designation : |
Director |
|
Address : |
A/4, Mewawala Apartment, |
|
Date of Birth/Age : |
09.01.1962 |
|
Date of Appointment : |
18.10.2006 |
|
DIN No.: |
00221855 |
Other Directorship:
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U72200MH1986PTC039935 |
RAIJIANDHORWATH
CONSULTANCY SERVICES PRIVATE LIMITED |
Director |
06-03-96 |
06-03-96 |
- |
Active |
NO |
|
2 |
L24239MH1956PLC009794 |
AVENTIS PHARMA
LIMITED |
Director |
05-03-01 |
05-03-01 |
- |
Active |
NO |
|
3 |
U72900MH2005PTC152504 |
I-PROCESS
SERVICES (INDIA) PRIVATE LIMITED |
Director |
07-04-05 |
07-04-05 |
- |
Active |
NO |
|
4 |
U72900MH2006PLC162656 |
FINANCIAL
INCLUSION NETWORK AND OPERATIONS LIMITED |
Director |
15-06-06 |
15-06-06 |
12-10-07 |
Active |
NO |
|
5 |
U65990MH1992PTC065289 |
SBI FUNDS
MANAGEMENT PRIVATE LIMITED |
Director |
29-08-06 |
29-08-06 |
- |
Active |
NO |
|
6 |
U65922MH1999PLC120106 |
ICICI HOME
FINANCE COMPANY LIMITED |
Director |
28-09-07 |
18-11-06 |
- |
Active |
NO |
|
Name : |
Mr. Subramaniam Santhanakrishnan |
|
Designation : |
Director |
|
Address : |
Flat G5, Block 2, Prime Terrace 150, |
|
Date of Birth/Age : |
08.11.1944 |
|
Date of Appointment : |
24.07.2008 |
|
DIN No.: |
00005069 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U72300MH2000PLC128359 |
CREDIT
INFORMATION BUREAU (INDIA) LIMITED |
Managing
director |
24-07-07 |
21-02-04 |
30-11-07 |
Active |
NO |
|
2 |
U74999MH2005PLC155683 |
SME
RATING AGENCY OF INDIA LIMITED |
Director |
03-07-06 |
03-07-06 |
27-11-07 |
Active |
NO |
|
3 |
U65999TN2005PLC069447 |
EASYACCESS
FINANCIAL SERVICES LIMITED |
Director |
29-09-08 |
10-01-08 |
- |
Active |
NO |
|
4 |
U65910MH1995PLC220528 |
RELIANCE
CAPITAL TRUSTEE COMPANY LIMITED |
Director |
12-07-08 |
25-02-08 |
- |
Active |
NO |
|
5 |
L65191KL1927PLC000307 |
DHANLAXMI
BANK LIMITED |
Director |
27-09-08 |
30-06-08 |
- |
Active |
NO |
|
6 |
U65922MH1999PLC120106 |
ICICI
HOME FINANCE COMPANY LIMITED |
Director |
25-08-09 |
24-07-08 |
- |
Active |
NO |
|
7 |
L35999TN1962PLC004792 |
SUNDARAM
-CLAYTON LIMITED |
Director |
29-09-09 |
15-07-09 |
- |
Active |
NO |
|
8 |
U65920TN2008PLC069758 |
TVS
CREDIT SERVICES LIMITED |
Director |
23-06-10 |
17-02-10 |
- |
Active |
NO |
|
9 |
U25209MH1999PLC119427 |
AXIOM
CORDAGES LIMITED |
Director |
20-06-11 |
01-02-11 |
- |
Active |
NO |
|
Name : |
Mr. Dileep C. Choksi |
|
Designation : |
Additional Director |
|
Address : |
E-7, Sea Face Park, 50, Bhulabhai Desai Road, Mumbai-400026,
Maharashtra, India |
|
Date of Birth/Age : |
26.12.1949 |
|
Date of Appointment : |
25.09.2009 |
|
DIN No.: |
00016322 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U67200MH2000PLC129408 |
ICICI
LOMBARD GENERAL INSURANCE COMPANY LIMITED |
Director |
29-10-02 |
29-10-02 |
- |
Active |
NO |
|
2 |
U72200MH1999PLC122456 |
NSE
IT LIMITED |
Director |
27-07-04 |
27-07-04 |
- |
Active |
NO |
|
3 |
U99999DL1993PLC054135 |
ICICI
PRUDENTIAL ASSET MANAGEMENT COMPANY LIMITED |
Director |
29-05-09 |
23-07-08 |
- |
Active |
NO |
|
4 |
U67190MH2008PTC181421 |
C3
ADVISORS PRIVATE LIMITED |
Additional
director |
13-08-08 |
13-08-08 |
24-11-08 |
Active |
NO |
|
5 |
L67120MH1993PLC074411 |
3I
INFOTECH LIMITED |
Director |
28-07-09 |
24-04-09 |
- |
Active |
NO |
|
6 |
U65922MH1999PLC120106 |
ICICI
HOME FINANCE COMPANY LIMITED |
Director |
15-06-10 |
25-09-09 |
- |
Active |
NO |
|
7 |
U67100GJ1956PLC000597 |
ACE
DERIVATIVES AND COMMODITY EXCHANGE LIMITED |
Nominee
director |
20-11-09 |
20-11-09 |
- |
Active |
NO |
|
8 |
U74140DL2004PTC124745 |
WORLD
TAX SERVICE INDIA PRIVATE LIMITED |
Director |
30-09-10 |
15-07-10 |
- |
Active |
NO |
|
9 |
U74990MH2010PTC206204 |
UNIVERSAL
TRUSTEES PRIVATE LIMITED |
Director |
03-08-10 |
03-08-10 |
- |
Active |
NO |
|
10 |
L72200MH1987PLC045205 |
DATAMATICS
GLOBAL SERVICES LIMITED |
Director |
15-09-11 |
09-02-11 |
- |
Active |
NO |
|
Name : |
Mr. Rajiv Sabharwal |
|
Designation : |
Director |
|
Address : |
Y-1301, 13th Floor, Callalily Nahar’s Amrit Shakti Off Saki
Vihar Road, Chandivali, Andheri East, Mumbai
- 400072, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1965 |
|
Date of Appointment : |
25.04.2002 |
|
DIN No.: |
00057333 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U65922MH1999PLC120106 |
ICICI
HOME FINANCE COMPANY LIMITED |
Nominee
director |
15-06-10 |
25-04-02 |
- |
Active |
NO |
|
2 |
U72900MH2006PLC162656 |
FINANCIAL
INCLUSION NETWORK AND OPERATIONS LIMITED |
Nominee
director |
25-01-08 |
25-01-08 |
27-02-09 |
Active |
NO |
|
3 |
U65999KA2000PTC033945 |
SEQUOIA
CAPITAL INDIA ADVISORS PRIVATE LIMITED |
Director |
30-09-09 |
06-01-09 |
29-03-10 |
Active |
NO |
|
4 |
U72100TN2005PTC057463 |
PRIZM
PAYMENT SERVICES PRIVATE LIMITED |
Nominee
director |
25-03-09 |
25-03-09 |
29-03-10 |
Active |
NO |
|
5 |
U74140DL2004PTC127708 |
UNICON
FINANCIAL INTERMEDIARIES PRIVATE LIMITED |
Director |
24-06-09 |
24-06-09 |
01-04-10 |
Active |
NO |
|
6 |
L65190GJ1994PLC021012 |
ICICI
BANK LIMITED |
Whole-time
director |
28-06-10 |
24-06-10 |
- |
Active |
NO |
|
7 |
U66010MH2000PLC127837 |
ICICI
PRUDENTIAL LIFE INSURANCE COMPANY LIMITED |
Director |
19-07-11 |
19-10-10 |
- |
Active |
NO |
|
8 |
U65990MH2000PLC124773 |
ICICI
INVESTMENT MANAGEMENT COMPANY LIMITED |
Nominee
director |
01-12-10 |
01-12-10 |
03-06-11 |
Active |
NO |
|
Name : |
Mr. Maninder S. Juneja |
|
Designation : |
Director |
|
Address : |
D -1002, Mayfair Meridian Ceasar Road, Amboli, Andheri (West),
Mumbai-400058, Maharashtra, India |
|
Date of Birth/Age : |
31.01.1966 |
|
Date of Appointment : |
08.04.2010 |
|
DIN No.: |
02680016 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U80903DL2006PLC149721 |
NIIT
INSTITUTE OF FINANCE BANKING AND INSURANCE TRAINING LIMITED |
Director |
27-08-09 |
22-05-09 |
Active |
NO |
|
2 |
U74140MH2009PTC194399 |
ICICI
MERCHANT SERVICES PRIVATE LIMITED |
Director |
31-12-10 |
22-12-09 |
Active |
NO |
|
3 |
U65922MH1999PLC120106 |
ICICI
HOME FINANCE COMPANY LIMITED |
Nominee
director |
15-06-10 |
08-04-10 |
Active |
NO |
|
4 |
U74999DL2002PTC117357 |
INTERNATIONAL
ASSET RECONSTRUCTION COMPANY PRIVATE LIMITED |
Nominee
director |
30-06-11 |
25-02-11 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Pratap Salian |
|
Designation : |
Company Secretary |
|
Address : |
19/102, Sanskriti 90 Feet Road, Asha Nagar, Kandivli (East),
Mumbai-400101, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1964 |
|
Date of Appointment : |
11.04.2011 |
|
PAN No.: |
AQUPS7901E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.06.2011
|
Names of Shareholders |
No. of Shares |
|
ICICI Bank Limited, India |
1098748790 |
|
ICICI Securities Limited, India |
500 |
|
ICICI Bank Limited, India |
110 |
|
ICICI Lombard General Insurance Company Limited, India |
100 |
|
ICICI Investments Management Company Limited, India |
100 |
|
ICICI Trusteeship Services Limited, India |
100 |
|
ICICI Venture Funds Management Company Limited, India |
100 |
|
ICICI Securities Primary Dealership Limited, India |
100 |
|
ICICI Securities Limited, India |
100 |
|
Total |
1098750000 |
AS ON 15.06.2011
|
Equity Shares
Break Up |
Percentage |
|
Nationalized or other banks |
99.99 |
|
Bodies corporate |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of providing loans for
purchase, construction, repairs and renovation etc., of houses / flats to individuals,
corporate bodies, builders and co-operative housing societies. |
|
|
|
|
Services : |
·
Home Loans |
GENERAL INFORMATION
|
No. of Employees : |
Information
declined by the management |
|
|
|
|
Bankers : |
ICICI Bank Limited, ICICI Bank Towers, Bandra Kurla Complex, Bandra
(East), Mumbai-400051, Maharashtra, India
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
|
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Company Chartered Accountants |
|
Address : |
6th Floor, |
|
Tel. No.: |
91-22-66579200 |
|
Fax No.: |
91-22-22876401 |
|
PAN No.: |
AALFS0506L |
|
|
|
|
Holding Company : |
ICICI Bank Limited CIN No.: L65190GJ1994PLC021012 |
|
|
|
|
Fellow Subsidiaries / Fellow Entity : |
|
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2385000000 |
Equity Shares |
Rs.10/- each |
Rs. 23850.000 Millions |
|
15000000 |
Preference Shares |
Rs. 10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 24000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1098750000 |
Equity Shares |
Rs.10/- each |
Rs.
10987.500 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10987.500 |
10987.500 |
10987.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2416.675 |
1826.290 |
1466.438 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
13404.175 |
12813.790 |
12453.938 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14808.600 |
14862.200 |
10700.000 |
|
|
2] Unsecured Loans |
58307.706 |
100473.057 |
106912.457 |
|
|
TOTAL BORROWING |
73116.306 |
115335.257 |
117612.457 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.0000 |
|
|
|
|
|
|
|
|
TOTAL |
86520.481 |
128149.047 |
130066.395 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
53.579 |
663.029 |
60.101 |
|
|
Capital work-in-progress |
1.569 |
4.840 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3508.281 |
13279.733 |
15697.960 |
|
|
DEFERREX TAX ASSETS |
398.708 |
414.909 |
392.621 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
47.304
|
47.679
|
94.252 |
|
|
Cash & Bank Balances |
2231.329
|
3085.188
|
4687.326 |
|
|
Other Current Assets |
1559.414
|
1069.613
|
1172.305 |
|
|
Loans & Advances |
517.667
|
4004.899
|
430.883 |
|
Total
Current Assets |
4355.714
|
8207.379 |
6384.766 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
120.137
|
174.115 |
|
|
|
Other Current Liabilities |
4035.115
|
4852.548
|
|
|
|
Provisions |
766.693
|
863.009
|
740.941 |
|
Total
Current Liabilities |
4921.945
|
5889.672 |
3613.886 |
|
|
Net Current Assets |
(566.231)
|
2317.707
|
2770.880 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
LOAN AND OTHER CREDIT FACILITIES |
83124.575 |
111468.829 |
111144.833 |
|
|
|
|
|
|
|
|
TOTAL |
86520.481 |
128149.047 |
130066.395 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from Operation |
11715.174 |
14668.181 |
14053.527 |
|
|
|
Other Income |
748.672 |
1231.904 |
667.713 |
|
|
|
TOTAL (A) |
12463.846 |
15900.085 |
14721.240 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Cost |
309.574 |
|
|
|
|
|
Establishment and Other Expenses |
518.837 |
1090.404 |
|
|
|
|
Provision / (Write Back) of Contingencies |
0.000 |
8.880 |
|
|
|
|
Provision and Write off Against Non-Performing Assets |
202.981 |
304.163 |
2787.262 |
|
|
|
Provision Against Standard Assets |
25.257 |
(20.225) |
|
|
|
|
Expenses Recovered |
(181.385) |
(286.624) |
|
|
|
|
TOTAL (B) |
875.264 |
1925.539 |
2787.262 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11588.582 |
13974.546 |
11933.978 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8284.445 |
11825.707 |
10087.090 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3304.137 |
2148.839 |
1846.888 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.557 |
6.803 |
2.983 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3293.580 |
2142.036 |
1843.905 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
960.711 |
535.266 |
415.238 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2332.869 |
1606.770 |
1428.667 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
328.353 |
298.501 |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
NA |
0.000 |
NA |
|
|
|
Special Reserve |
NA |
330.000 |
NA |
|
|
|
Dividend |
NA |
1092.660 |
NA |
|
|
|
Proposed Dividend |
NA |
154.258 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
328.353 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.12 |
1.46 |
1.30 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
18.72
|
10.10 |
9.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
28.11
|
14.60 |
13.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
68.50
|
23.07 |
28.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.17 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.82
|
9.46 |
9.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88
|
1.39 |
1.76 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Total outstanding dues of Micro and Small Enterprises |
0.353 |
4.461 |
NA |
|
Total outstanding dues to creditors other than Micro and Small
Enterprises |
119.784 |
169.654 |
NA |
|
Total |
120.137 |
174.115 |
NA |
INDUSTRY OVERVIEW
The real estate
industry, like most other asset classes has witnessed a consolidation phase
during the last year. Increasing interest rates and challenges in access to funds
for developers is getting most of them to consolidate on existing projects and
timely delivery. The pace of recovery and consolidation has varied across
markets for the
residential,
commercial and retail spaces. Rentals in residential and more so in commercial
sectors are seeing a positive correction in most markets. The Industry is
witnessing a revival of both demand and supply, propped up by the expansion of
Developers and also Housing Finance Companies expanding to smaller ticket size
mass housing segment. This is prominently seen in smaller markets and outskirts
of metros and large cities are witnessing a healthy demand building up.
OPERATIONAL REVIEW
The Company
continued to serve as the focal point for marketing, distribution and servicing
of mortgage products. The Company keenly looks at every step in the value chain
of real estate, as a business opportunity for the Company. This starts as a
property transaction for developers and individuals and culminates when an end
user moves into a property.
In addition, the
Company has raised deposits worth Rs. 4264.4 millions during FY2011. The
Company's Fixed Deposits have received the highest credit ratings of “MAAA” by
ICRA and “CARE AAA (FD)” by CARE.
CONTINGENT LIABILITIES NOT PROVIDED FOR: (AS ON
31.03.2011)
(i) Income Tax
matters in appeal- Rs. 789.025 millions (March 10-Rs. Nil).
(ii) Show cause
notice in respect of Service Tax matters amounting Rs. 7477.614 millions (Mar
10- Rs. Nil)
(iii) The
contingent liability on account of claims filed against the Company not
acknowledged as debt is Rs. 73.187 millions (March 10 Rs. 58.763 Millions). As
per management, the Company has good chances of winning the case accordingly no
provision for any liability has been made in the financial statement.
FORM 8
|
Corporate
identity number of the company |
U65922MH1999PLC120106 |
||||||
|
Name of the
company |
ICICI HOME FINANCE COMPANY LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
|
||||||
|
This form is for |
Modification of
Charge |
||||||
|
Type of charge |
Floating charge |
||||||
|
Charge
identification number of the charge to be modified |
10063486 |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of
instrument creating charge |
Trust Deed
Executed on 10th August, 2009 |
||||||
|
Date of
instrument Creating the charge |
10.08.2009 |
||||||
|
Amount secured by
the charge |
Rs. 3116.900
Millions |
||||||
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Not Applicable Terms of
Repayment Not Applicable -
Floating charge created on Securities of the Depositors/Investments purchased
by the Company as per the terms of Section - 29B (1) and 29B (2) of the
National Housing Bank Act, 1987 and has appointed IDBI Trusteeship Services
Limited to act as Trustees for the Depositors. Margin Not Applicable Extent and
Operation of the charge The Company has created
floating charge in favour of the Trustees on both present and future
securities purchased by investing the amount specified by the National
Housing Bank (NHB) in terms of Section - 29B (1) and investments made under
the provisions of Section - 29B (2) of the NHB Act from time to time, for the
benefit of Depositors on the revised amount of Securities as per the Trust
Deed. Others The trustees may
at any time, by notice in writing to the Company, convert the said floating
charge into a fixed charge and get it registered as legal charge |
||||||
|
Particulars of
the property charged |
Floating charge
on Securities of the Depositors/Investments purchased by the Company as per
the terms of Section - 29B (1) and 29B (2) of the National Housing Bank Act,
1987 for the revised amount. |
||||||
|
Particulars of
the present modification |
By the Trust Deed
executed on 10th August, 2009 the floating charge is created on
Securities/Investments purchased by the Company under the provisions of
Section - 29B (1) and (2) of the NHB Act for the revised amount of
Rs.3116.900 millions and on future securities/investments also from time to
time. |
FIXED ASSETS
- Office Building
- Leasehold Property
- Computer
- Office Equipments
- Furniture
- Software
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] 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. 52.16 |
|
|
1 |
Rs. 80.64 |
|
Euro |
1 |
Rs. 69.42 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
58 |
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.