BUSINESS INFORMATION REPORT
1. Summary Information
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Country |
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Company Name |
AMAR TARA HOSPITALITY PRIVATE LIMITED |
Principal Name 1 |
MS. SUNITA BALJEE |
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Status |
NEW COMPANY |
Principal Name 2 |
MR. KESHAV BALJEE |
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Registration # |
11-194423 |
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Street Address |
CTS 190/191,
INDIAN CORP. MILLS COMPOUND, OFFICE, BUILDING, 2ND FLOOR, SAKI
VIHAR ROAD, POWAI, MUMBAI – 400 072, MAHARASHTRA |
||
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Established Date |
29.07.2009 |
SIC Code |
-- |
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Telephone# |
91-22-28570884 |
Business Style 1 |
HOTEL BUSINESS |
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Fax # |
91-22-28570470 |
Business Style 2 |
-- |
|
Homepage |
NOT AVAILABLE |
Product Name 1 |
-- |
|
# of employees |
INFORMATION DECLINED BY THE MANAGEMENT |
Product Name 2 |
-- |
|
Paid up capital |
RS.340,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
BODIES CORPORATE – 100% |
Banking |
AXIS BANK LIMITED |
|
Public Limited Corp. |
NO |
Business Period |
ABOUT 1 YEAR AND 5 MONTHS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ca (16) |
|
Related
Company |
|||
|
Relation
|
Country
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Company
Name |
CEO |
|
HOLDING COMPANY |
|
ROYAL ORCHID HOTELS LIMITED |
-- |
|
Note |
-- |
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2. Summary
Financial Statement
|
Balance Sheet as of |
29.07.2009 to 31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
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|
Current Assets |
7,278,000 |
Current Liabilities |
83,000 |
|
Inventories |
0,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
332,722,000 |
Other Liabilities |
0,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
83,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
(83,000) |
|
|
|
Net Worth |
339,917,000 |
|
Total Assets |
340,000,000 |
Total Liab. & Equity |
340,000,000 |
|
Total Assets (Previous Year) |
-- |
|
|
|
P/L Statement as of |
29.07.2009 to 31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
0,000 |
Net Profit |
(83,000) |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
03.01.2012 |
IDENTIFICATION DETAILS
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Name : |
AMAR TARA HOSPITALITY PRIVATE LIMITED |
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Registered
Office : |
CTS 190/191, Indian Corp. Mills Compound, Office, Building, 2nd
Floor, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
29.07.2009 |
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Com. Reg. No.: |
11-194423 |
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Capital
Investment / Paid-up Capital : |
Rs.340.000 millions |
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|
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CIN No.: [Company Identification
No.] |
U55101MH2009PTC194423 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA35897B |
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PAN No.: [Permanent Account No.] |
AAHCA9090J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Hotel Business |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (16) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company and yet to establish itself gradually.
The company has not yet started its commercial operations. Payments are
unknown. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
INFORMATION DECLINED BY
|
Name : |
Mr. Shankar Mani |
|
Designation : |
Vice President - Finance |
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Contact No.: |
91-9945031031 |
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|
|
|
Name : |
Mr. K.B. Rao |
|
Designation : |
Vice President - Finance |
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Contact No.: |
91-9845055045 |
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Date : |
28.12.2011 |
LOCATIONS
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Registered Office : |
CTS 190/191, Indian Corp. Mills Compound, Office, Building, 2nd
Floor, |
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Tel. No.: |
91-22-28570884 |
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Mobile No.: |
91-9945031031 (Mr. Shankar Mani) 91-9845055045 (Mr. K.B. Rao) 91-9004559681 (Mr. Chatterjee) |
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Fax No.: |
91-22-28570470 |
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E-Mail : |
DIRECTORS
As on 20.09.2010
|
Name : |
Ms. Sunita Baljee |
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Designation : |
Director |
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Address : |
124, III Main,
Defence Colony, Indira Nagar, |
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Date of Birth/Age : |
31.08.1954 |
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Date of Appointment : |
16.11.2009 |
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DIN No.: |
00080737 |
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Other Directorship :
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Name : |
Mr. Keshav Baljee |
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Designation : |
Director appointed in casual vacancy |
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Address : |
No.124/A, 3rd
Main, Defence Colony, Indira Nagar, |
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Date of Birth/Age : |
16.12.1983 |
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Date of Appointment : |
03.11.2009 |
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DIN No.: |
00344855 |
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Other Directorship :
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Name : |
Mr. Arun Kumar Anand Sarup |
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Designation : |
Director |
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Address : |
Aashiana, |
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Date of Appointment : |
29.07.2009 |
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DIN No.: |
00498300 |
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Other Directorship :
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Name : |
Mr. Arjun Arun Sarup |
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Designation : |
Director |
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Address : |
Ashiana, |
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Date of Appointment : |
29.07.2009 |
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DIN No.: |
00498328 |
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Other Directorship :
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Name : |
Mr. Shekhar Bhargava |
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Designation : |
Director |
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Address : |
T616, |
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Date of Birth/Age : |
12.05.1956 |
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Date of Appointment : |
16.11.2009 |
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DIN No.: |
01450821 |
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Other Directorship :
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KEY EXECUTIVES
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Name : |
Mr. Shankar Mani |
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Designation : |
Vice President - Finance |
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Name : |
Mr. K.B. Rao |
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Designation : |
Vice President - Finance |
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Name : |
Mr. Chatterjee |
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Designation : |
Vice President – Project |
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E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.09.2010
|
Names of Shareholders |
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No. of Shares |
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Royal Orchid Hotels Limited, |
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21950000 |
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Amar Tara Private Limited, |
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12050000 |
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Total |
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34000000 |
As on 20.09.2010
|
Equity Share Breakup |
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Percentage of Holding |
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Category |
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Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Hotel Business |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
Axis Bank
Limited, Trishul 3rd Floor, Opposite Samartheshwar Temple, Law
Garden Ellisbridge, Ahmedabad – 380 006, Gujarat, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Walker, Chandiok and Company Chartered Accountants |
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Address : |
"Wings", First Floor, 16/1, |
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Tel. No.: |
91-80-42430700 |
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Fax No.: |
91-80-41261228 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFW4298E |
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Holding Company : |
Royal Orchid
Hotels Limited Address: No.1, CIN No.: L55101KA1986PLC007392 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
34000000 |
Equity Shares |
Rs.10/- each |
Rs.340.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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34000000 |
Equity Shares |
Rs.10/- each |
Rs.340.000 millions |
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Notes:
Of the above 18037000 equity shares are of
Rs.10/- each are held by Royal Orchid Hotels Limited, the Holding Company.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
29.07.2009 to
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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340.000 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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|
(0.083) |
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NETWORTH |
|
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339.917 |
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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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339.917 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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332.722 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERRED 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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|
7.278 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
|
|
7.278 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Other Current Liabilities |
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Provisions |
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Total
Current Liabilities |
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0.083 |
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Net Current Assets |
|
|
7.195 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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|
|
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TOTAL |
|
|
339.917 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
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|
29.07.2009 to
31.03.2010 |
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SALES |
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Income |
|
|
0.000 |
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Other Income |
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0.000 |
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TOTAL |
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0.000 |
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|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
General and Administrative Expenses |
|
|
0.083 |
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|
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TOTAL |
|
|
0.083 |
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NET LOSS AND
DEFICIT CARRIED TO BALANCE SHEET |
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(0.083) |
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Earnings/ (Loss)
Per Share (Rs.) |
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(0.02) |
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KEY RATIOS
|
PARTICULARS |
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|
29.07.2009 to
31.03.2010 |
|
PAT / Total Income |
(%) |
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0.00 |
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|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(0.02) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
87.69 |
LOCAL AGENCY FURTHER INFORMATION
BACKGROUND:
The Company was incorporated as on 29th July, 2009. The Company
has entered into a tri-partite agreement with Royal Orchid Hotels Limited and
Amartara Private Limited to jointly develop a Hotel Project in Mumbai. The
Company has not commenced commercial operations as at 31st March,
2010.
FINANCIAL RESULTS:
This being the
first financial year, the Company did not commence any commercial operations
for the period ended 31st March 2010. However, the Company incurred
general administrative expenditure to the tune of Rs.0.083 million for the
period under review.
REVIEW OF
OPERATIONS:
The Company did
not commence any commercial operations for the period ended 31st
March 2010. However, the Company has entered into a tripartite agreement with
Royal Orchid Hotels Limited and Amartara Private Limited to jointly develop a
Hotel Project in Mumbai,
FORM 8:
|
Corporate
identity number of the company |
U55101MH2009PTC194423 |
|
Name of the
company |
AMAR TARA HOSPITALITY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
CTS 190/191, Indian Corp. Mills Compound, Office, Building, 2nd
Floor, E-Mail: deepsoffice@yahoo.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10261585 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
CIN No.:
L65110GJ1993PLC020769 Axis Bank
Limited, Trishul 3rd Floor, Opposite Samartheshwar Temple, Law
Garden Ellisbridge, Ahmedabad – 380 006, Gujarat, India E-Mail: Vaishali.Anvekar@axisbank.com |
|
Nature of
description of the instrument creating or modifying the charge |
MEMORANDUM OF
ENTRY (EQUITABLE
MORTGAGE BY DEPOSIT OF TITLE DEEDS) |
|
Date of
instrument Creating the charge |
28.01.2011 |
|
Amount secured by
the charge |
Rs.950.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As per sanction
terms. Presently Base
Rate + 3.75% p.a., payable at monthly
rest Terms of
Repayment: Repayment has to be
made in 33 quarters after a moratorium period of 2 years and 9 months from
the date of first disbursement as mentioned in the sanction letter. Margin: For Term Loan and
Capex LC/ LOU for Buyers Credit (Sub limit under TL) - 31.09%. For Bank
Guarantee - 10% and 100% for disputed liabilities. Extent and
Operation of the charge: The charge shall
operate to the extent of Rs.950.000 millions plus interest, commission,
charge expenses and other costs. |
|
Short particulars
of the property charged |
CTS No. 26/1C,
Survey No. 16, Lying, being and situated at Village Paspoli, Taluka Kurla,
Mumbai Suburban District |
|
Particulars of
the present modification |
By the above, the
charge amount of Rs.950.000 millions is additionally secured by immovable property
of the company situated at CTS No.26/1C, Survey No.16, lying, being and
situated at Village Paspoli, Taluka Kurla, Mumbai Suburban District. (all other terms
and conditions remain unchanged) |
WEBSITE DETAILS:
NEWS:
ROYAL ORCHID ACQUIRES 74% IN AMARTARA
HOSPITALITY
September
9, 2010
Bangalore-based
Royal Orchid Hotels Limited is entering the Mumbai hospitality market.
The hospitality
chain has acquired a majority stake in Powai-based Amartara Hospitality Private
Limited with plans to set up a four-star business hotel.
Keshav Baljee,
president and co-promoter, Royal Orchid, told DNA Money that the company had been negotiating this deal for a while now.
“We have acquired 74%
in a company that holds a 50,000 square feet land parcel at Powai. The land
parcel has been valued at Rs.340.000 millions. We have already finalised plans
for our hotel development there, which will be a 250 room, four-star property,”
Baljee said.
Royal Orchid, which
will fund the Amartara buy through internal accruals, is likely to start work
at the site in a couple of months. The hotel should be ready to receive guests
after 22 months from groundbreaking, the official said. With the cost per key
averaging between Rs.3.000 millions and Rs.3.500 millions (excluding land
cost), the overall project cost will be around Rs.1250.000 millions (including
land cost).
The hotel, which
will be branded as Royal Orchid Central, will compete with international brands
such as Marriott’s Renaissance, Wyndham’s Ramada and Carlson’s Radisson.
The Powai hotel will
be the company’s first owned and managed property in Mumbai. Its only other
property currently is a management contract in Navi Mumbai — a 67-room Royal
Orchid Central Grazia.
Royal Orchid is also
in the final stages of acquiring a site in Shimla, where it is looking at a
On the company’s
international foray with a hotel in
“There are possibilities
of bringing in a development partner as well. It’s a large development and a
very lucrative option for the company. We may look at a mix of residential and
hotel development. We haven’t taken a final call on it though,” Baljee said.
Royal Orchid’s
current portfolio comprises 14 hotels with an inventory of 1,200 guest rooms.
The company is looking to add over 700 rooms this fiscal spread over five new
developments, including 140 keys in Hospet, 60 keys in Mussoorie, and 108 keys
in Shimoga. Also, a hotel each in
“While completing
hotels underway, we will be simultaneously looking at doubling the overall
portfolio in the coming couple of years from now. A large part of the new
inventory will come in through management contracts. We will still continue to
invest in tier I cities like our Powai project,” Baljee said.
The company is also
looking to raise Rs.1500.000 millions to tap growth opportunities. Its board in
its meeting last month approved the fundraising.
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.53.29 |
|
|
1 |
Rs.82.66 |
|
Euro |
1 |
Rs.68.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
16 |
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.