MIRA
INFORM REPORT
|
Report Date : |
30.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
CITY REALTY AND DEVELOPMENT PRIVATE LIMITED |
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Registered
Office : |
"City Chambers", 917/19a, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
17.08.2005 |
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Com. Reg. No.: |
11-021147 |
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Capital
Investment / Paid-up Capital : |
Rs.1580.584 Millions |
|
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CIN No.: [Company Identification
No.] |
U45209PN2005PTC021147 |
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|
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PAN No.: [Permanent Account No.] |
AACCC6632K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Construction Activity |
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No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 7800000 |
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|
Status : |
Project under implementation |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Though the company was incorporated in the year 2005, the project is
still under its implementation stage. Payments are not known. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Ganesh |
|
Designation : |
Account Assistant |
|
Contact No.: |
91-20-32416783 |
|
Date : |
29.03.2012 |
LOCATIONS
|
Registered Office : |
"City Chambers", 917/19a, F. C. Road, Pune – 411004,
Maharashtra, India |
|
Tel. No.: |
91-20-25654555 |
|
Fax No.: |
91-20-25657555 |
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E-Mail : |
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|
Website : |
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Head Office : |
Amaora Town Centre, Hadapsar, Kharadi Bypass Hadapsar, Pune – 411028,
Maharashtra, India |
DIRECTORS
As on 23.09.2011
|
Name : |
Mr. Aniruddha Pradyumna Deshpande |
|
Designation : |
Director |
|
Address : |
D – 301, 1 Modibaug, Ganeskhind Road, Near
Agriculture College, Shivaji Nagar, Pune – 411016, Maharashtra, India |
|
Date of Birth/Age : |
29.03.1960 |
|
Date of Appointment : |
17.08.2005 |
|
Qualification : |
B.A. |
|
DIN No.: |
00023026 |
|
|
|
|
Name : |
Mr. Shishir Swami Saran Baijal |
|
Designation : |
Director |
|
Address : |
Flat No. 901, 9th Floor, Quantam Park, Wing
A, Khar Danda, Khar West, Mumbai – 400052, Maharashtra, India |
|
Date of Birth/Age : |
06.03.1959 |
|
Date of Appointment : |
21.06.2007 |
|
Qualification : |
MBA |
|
DIN No.: |
00089265 |
|
|
|
|
Name : |
Mr. Suyash Verma |
|
Designation : |
Director |
|
Address : |
Flat No. 1301, 13th Floor, Raval Towers,
Sundervan Complex, New Link Road, Andheri (West), Mumbai – 400053,
Maharashtra, India |
|
Date of Birth/Age : |
04.05.1961 |
|
Date of Appointment : |
21.06.2007 |
|
Qualification : |
BE |
|
DIN No.: |
00803214 |
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|
|
|
Name : |
Mr. Himesh Dinesh Lakhani |
|
Designation : |
Director |
|
Address : |
52/62 Princess Street, Varjivan Mansion, 3rd
Floor, Mumbai – 400002, Maharashtra, India |
|
Date of Birth/Age : |
08.10.1977 |
|
Date of Appointment : |
17.06.2010 |
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Qualification : |
B.Com |
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DIN No.: |
01210700 |
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|
|
|
Name : |
Mr. Arun Shridhar Patkie |
|
Designation : |
Director |
|
Address : |
B 10, Kamdar Park Society, N.M. Kale Marg,
Prabhadevi, Gokhale Road, Dadar – West,
Mumbai – 400028, Maharashtra, India |
|
Date of Birth/Age : |
22.01.1947 |
|
Date of Appointment : |
26.02.2008 |
|
Qualification : |
BE |
|
DIN No.: |
00782735 |
|
|
|
|
Name : |
Ms. Joanna Dominica Desouza |
|
Designation : |
Director |
|
Address : |
Sanjana Mansion First Floor, Sussex Road,
Jajamata Udyan Po Byculla, Mumbai – 400027, Maharashtra, India |
|
Date of Birth/Age : |
14.12.1974 |
|
Date of Appointment : |
21.06.2007 |
|
Qualification : |
MBA |
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DIN No.: |
01646681 |
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|
|
|
Name : |
Mr. Mehul Sevantilal Shah |
|
Designation : |
Director |
|
Address : |
165, Manibai Bhuvan, 10th Khethwadi, Back
Road, 2 Nd Floor, Room No. 1, Mumbai – 400004, Maharashtra, India |
|
Date of Birth/Age : |
24.08.1984 |
|
Date of Appointment : |
17.06.2010 |
|
Qualification : |
B.Com |
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DIN No.: |
03070477 |
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|
|
|
Name : |
Mr. Rahul Nair |
|
Designation : |
Director |
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Address : |
20-A, Belvedere Court, Sane Guruji Marg, Mahalaxmi (East), Mumbai -
400011, Maharashtra, India |
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Date of Birth/Age : |
08.07.1967 |
|
Date of Appointment : |
21.07.2011 |
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DIN No.: |
01755435 |
KEY EXECUTIVES
|
Name : |
Mr. Ganesh |
|
Designation : |
Account Assistant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
NOMINAL EQUITY SHARES |
|
|
|
City Corporation Limited, India |
|
441000 |
|
Horizon Ventures V, Mauritius |
|
459000 |
|
Total
(A) |
|
900000 |
|
|
|
|
|
CLASS “A” EQUITY SHARES |
|
|
|
Horizon Ventures V, Mauritius |
|
1795410 |
|
Total
(B) |
|
1795410 |
|
|
|
|
|
CLASS “B” EQUITY SHARES |
|
|
|
City Corporation Limited, India |
|
1725000 |
|
Total
(C) |
|
1725000 |
|
|
|
|
|
Total
(A) + (B) + (C) |
|
4420410 |
|
CLASS “X” 0.001% COMPULSORILY CONVERTIBLE NON – CUMULATIVE
PREFERENCE SHARES |
|
|
|
Horizon Ventures V, Mauritius |
|
162224452 |
|
Total
(A) |
|
162224452 |
|
|
|
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CLASS “Y” 0.001%
COMPULSORILY CONVERTIBLE NON – CUMULATIVE PREFERENCE SHARES |
|
|
|
City Corporation Limited, India |
|
30413581 |
|
Total
(B) |
|
30413581 |
|
|
|
|
|
Total
(A) + (B) |
|
192638033 |
As on 23.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
51.00 |
|
Bodies corporate |
49.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction Activity |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
GENERAL INFORMATION
|
Customers : |
Corporate |
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No. of Employees : |
600 (Approximately) |
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Bankers : |
Punjab National Bank,
Large Corporate Branch, Maker Tower 'E', Ground Floor, Cuffe Parade,, Mumbai
- 400005, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institutions : |
IDBI Trusteeship
Services Limited, Asian Bldg., Ground Floor, 17, R. Kamani Marg, Ballard
Estate,, Mumbai- 400 001, Maharashtra, India |
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|
|
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Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountants |
|
Address : |
Jallan Mills Compound, 95, Ganpatrao Kadam Marg, Lower Parel, Mumbai –
400013, Maharashtra, India |
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PAN.: |
AALFS0506L |
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Parent Company : |
City Corporation Limited |
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Holding Company : |
Horizon Ventures V- Mauritius |
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Fellow Subsidiaries : |
Skyscapes Hotels Private Limited CIN No.: U34102PN2004PTC019806 |
CAPITAL STRUCTURE
After 23.09.2011
Authorised Capital : Rs.2200.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.2090.584 Millions
As on 23.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
215000000 |
Preference Shares |
Rs.10/- each |
Rs.2150.000 Millions |
|
|
Total
|
|
Rs.2200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4420410 |
Equity Shares |
Rs.10/- each |
Rs. 44.204 Millions |
|
192638033 |
Preference Shares |
Rs.10/- each |
Rs. 1926.380 Millions |
|
197058443 |
|
|
Rs.1970.584
Millions |
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Nominal Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
2000000 |
Class “A” Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
2000000 |
Class “B” Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
168000000 |
Class “X” 0.001% Compulsorily Convertible Non – Cumulative Preference Shares |
Rs.10/- each |
Rs.1680.000 Millions |
|
47000000 |
Class “Y” 0.001% Compulsorily Convertible Non – Cumulative Preference Shares |
Rs.10/- each |
Rs.470.000 Millions |
|
|
Total |
|
Rs.1600.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900000 |
Nominal Equity Shares |
Rs.10/- each |
Rs. 9.000 Millions |
|
1795410 |
Class “A” Equity Shares |
Rs.10/- each |
Rs. 17.954 Millions |
|
1725000 |
Class “B” Equity Shares |
Rs.10/- each |
Rs. 17.250 Millions |
|
137224452 |
Class “X” 0.001% Compulsorily Convertible Non – Cumulative Preference Shares |
Rs.10/- each |
Rs.1372.244 Millions |
|
16413581 |
Class “Y” 0.001% Compulsorily Convertible Non – Cumulative Preference Shares |
Rs.10/- each |
Rs.164.136 Millions |
|
|
Total |
|
Rs.1580.584
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 |
1580.584 |
1580.584 |
1123.449 |
|
|
2] Share Application Money |
390.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
130.536 |
|
|
4] (Accumulated Losses) |
(28.658) |
(15.476) |
(10.964) |
|
|
NETWORTH |
1941.926 |
1565.108 |
1243.021 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2772.225 |
2380.257 |
1347.134 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
2772.225 |
2380.257 |
1347.134 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4714.151 |
3945.365 |
2590.155 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1179.150 |
1173.077 |
1174.415 |
|
|
Capital work-in-progress |
3663.744 |
2381.875 |
1385.793 |
|
|
|
|
|
|
|
|
INVESTMENT |
162.135 |
498.233 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.00 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
36.709
|
22.102 |
121.682 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
14.471
|
6.916 |
2.478 |
|
Total
Current Assets |
51.180
|
29.018 |
124.160 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
227.508
|
90.830 |
68.269 |
|
|
Other Current Liabilities |
114.325
|
46.008 |
25.903 |
|
|
Provisions |
0.225
|
0.000 |
0.041 |
|
Total
Current Liabilities |
342.058
|
136.838 |
94.213 |
|
|
Net Current Assets |
(290.878)
|
(107.820) |
29.947 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4714.151 |
3945.365 |
2590.155 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
0.001 |
0.004 |
0.003 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
13.183 |
4.515 |
1.371 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(13.182) |
(4.511) |
(1.368) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.057 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(13.182) |
(4.511) |
(1.425) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.08 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(1318200.00)
|
(112775.00) |
(47500.00) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.07)
|
(0.38) |
(0.11) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01)
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.60
|
1.61 |
1.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.15
|
0.21 |
1.32 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details:
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Sundry Creditors |
227.508
|
90.830 |
68.269 |
|
|
|
|
|
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two years |
No |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
No |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U45209PN2005PTC021147 |
|
Name of the company |
CITY REALTY AND DEVELOPMENT PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
"City Chambers", 917/19a, F. C. Road, Pune – 411004,
Maharashtra, India E-mail : kamaljeet@amanora.com
|
|
This form is for |
Creation of charge |
|
Type of charge |
·
Immovable property ·
Movable property (not being pledge) ·
Floating charge ·
Others (Assignment of future lease rent receivable
by company) |
|
Particular of charge holder |
Punjab National Bank, Large Corporate Branch, Maker Tower 'E', Ground
Floor, Cuffe Parade,, Mumbai - 400005, Maharashtra, India |
|
Nature of instrument creating charge |
Deed of Simple Mortgage (without possession) dated 20 Dec, 2011 (regd.
no. - 10530-2011) in favor of Punjab National Bank, Canara Bank and Indian
Overseas Bank for loan of Rs. 3500.000 Millions granted by 3 banks. |
|
Date of instrument Creating the charge |
20.12.2011 |
|
Amount secured by the charge |
Rs.3500.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Margin Not Applicable Extent and Operation of the charge Charge operates as first pari passu charge by way of Registered
Mortgage on retail portion of Amanora Town centre (including proportionate
parking areas and undivided proportionate EB-1 and EB-2 land parcels)
admeasrng 10.94 lakh sq. ft. situated at Village Sadesatranali, Hadapsar,
Haveli, Pune alongwith furniture and fixtures thereon and other movable and
immovable assets in said premises and
all receivables ,receipts via lease rent, Leave and License, assignment of
lease rights of said retail portion. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Regd Mortgage on retail portion of Amanora Town centre (including
designated / proportionate parking areas and undivided proportionate EB-1 and
EB-2land parcels) admsrng 10.94lac sq. ft situated at Hadapsar Pune First pari passu charge on furniture and fixtures and other movable
and immovable assets in the said premises First pari passu charge on all the receivables and receipts via lease rent,
Leave and License, assignment of lease rights of said retail portion. |
Fixed Assets:
·
Leasehold Land
·
Computers
·
Office Equipments
·
Furniture and Fixtures
·
Plant and Machinery
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.51.15 |
|
|
1 |
Rs.81.41 |
|
Euro |
1 |
Rs.68.22 |
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.