MIRA
INFORM REPORT
|
Report Date : |
13.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
THE GARDEN MUTUALLY AIDED CO-OP HOUSING LIMITED |
|
|
|
|
Registered
Office : |
H. No. 5-8-494, B-58, Karimabad Colony, Chirag Ali Lane, Abids,
Hyderabad-500001, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Year of
Establishment : |
Not Available |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Available |
|
|
|
|
Legal Form : |
Co-operative Housing Society |
|
|
|
|
Line of Business
: |
The Society has planned construction of Posh Residential Apartments at
the given address. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Undetermined |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
-- |
|
|
|
|
Comments : |
The management denied to disclose any information about the subject
company. Therefore, the report is based on indirect sources of information.
Payments are unknown. Initially, subject 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINE BY
|
Name : |
Mr. Altaf Virani |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-9866497786 |
|
|
|
|
Name : |
Mr. Salman Dyani |
|
Designation : |
Director |
|
Contact No.: |
91-9849063408 |
|
Date : |
11.01.2012 |
LOCATIONS
|
Registered Office : |
H. No. 5-8-494, B-58, Karimabad Colony, Chirag Ali Lane, Abids, Hyderabad-500001,
Andhra Pradesh, India |
|
Tel. No.: |
91-40-23206029 / 23206030 |
|
Mobile No.: |
91-9866497786 (Mr. Altaf Virani) 91-9849063408 (Mr. Salman Dyani) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Construction Site : |
Sy. No:105/E, Adjacent Lane to Cine Planet, Kompally Village, Near KVR
Function Hall, R. R. District, Hyderabad-500014, Andhra Pradesh, India |
MANAGEMENT
|
Name : |
Mr. Salman Dyani |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Altaf Virani |
|
Designation : |
Company Secretary |
BUSINESS DETAILS
|
Line of Business : |
The Society has planned construction of Posh Residential Apartments at
the given address. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Divulged |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
-- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Divulged
The above information has been declined by Mr. Salman Dayani.
LOCAL AGENCY FURTHER INFORMATION
GENERAL OBSERVATIONS:
As it’s a Society , we have called and spoke
to Administration department at the office at Abids. One Mr. Akbar had spoken and
conveyed that the construction is going on at the site and concerned person to
provide the information is Mr. Altaf Virani, the Secretary. We spoke to Mr.
Virani twice and he had asked us to email the details and then talk to him
again.
We spoke to him against after emailing the
details by then he said he will get back in a day or two and confirmed receipt
of the email, but he said he has to obtain permission of the Society members
before disclosing any details. As there was no response for a couple of days
again, we called him. He said he will come back on his own provided the members
give permission. But till date he has not responded again.
WEB SITE DETAILS
PROFILE
The unique feature of the project is that the
apartments range from 550 sft. to 5500 sft. To match the needs of people of
varying incomes, affluence levels, tastes and status. So here is a home for at
a price can afford. The location, the concept, the idea and the guiding social
obligation have been so distinctive that Agakhan Planning and Building Services
(India) have enthusiastically provided planning and technical assistance right
from the inception of the project.
·
A mammoth project with
832 apartments in 15 blocks
·
73% area is devoted to
greenery
·
350000 sft. cellar
parking that can accommodate 1000 cars and 1000 two wheelers
·
30 ft. wide driveways
allow effortless maneuverability around the complex
·
Approximately 8000 sft.
Built-up recreation space brings a smile to the senior citizens
·
Proposed land is
exclusively assigned to ‘Jamatkhana’
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.51.82 |
|
|
1 |
Rs.79.42 |
|
Euro |
1 |
Rs.65.90 |
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.