|
Report Date : |
07.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
HOTEL TIPTOP INTERNATIONAL PRIVATE LIMITED (w.e.f.14.07.2010) |
|
|
|
|
Formerly Known
As : |
TIPTOP ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
14, Yashodhan Shivaji Path, Near Railway Station, Thane – 400601, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
30.07.1999 |
|
|
|
|
Com. Reg. No.: |
11-121084 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.200
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U55101MH1999PTC121084 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNET07442B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT6330J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Service Provided of Hotel. |
|
|
|
|
No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 200000 |
|
|
|
|
Status : |
Yet to commence business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Though the company incorporated in the year 1999. It is yet commenced
with its business activity. As the company work is still under construction. The
company will commenced its activity from April 2013 as confirmed by Mr.
Ketan, Director. Payments are unknown. 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in 2011
slowed because of persistently high inflation and interest rates and little
progress on economic reforms. High international crude prices have exacerbated
the government's fuel subsidy expenditures contributing to a higher fiscal
deficit, and a worsening current account deficit. Little economic reform took
place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
(Bank Facilities) BB- (Suspended) |
|
Rating Explanation |
The inadequate credit quality it carries
high credit risk. |
|
Date |
December, 2011 |
Reason: Inability to carry out a rating surveillance
in the absence of requisite information from the company.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Ketan |
|
Designation : |
Director |
|
Contact No.: |
91-9820304343 |
|
Date : |
06.11.2012 |
LOCATIONS
|
Registered Office : |
14, Yashodhan Shivaji Path, Near Railway Station, Thane – 400601,
Maharashtra, India |
|
Tel. No.: |
91-22-25447800/ 67935593 |
|
Mobile No.: |
91-9820192679 (Mr. Jayant Ramanlal Shah) |
|
Fax No.: |
91-22-25365000/ 67935524 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
(AS ON 30.09.2010)
|
Name : |
Mr. Jayant Ramanlal Shah |
|
Designation : |
Director |
|
Address : |
C-23, Indraprashtha, Sarvodaya Nagar, Mulund West, Mumbai – 400080,
Maharashtra, India |
|
Date of Birth/Age : |
01.10.1959 |
|
Date of Appointment : |
30.07.1999 |
|
DIN No.: |
01689426 |
|
|
|
|
Name : |
Mr. Ketan Jayant Shah |
|
Designation : |
Additional Director |
|
Address : |
A-23, Indraprashtha, C Wing, Block No.23, Nahur Goregaon Link Road, J
N Road, Mulund West, Mumbai – 400080, Maharashtra, India |
|
Date of Birth/Age : |
28.04.1982 |
|
Date of Appointment : |
15.07.2009 |
|
DIN No.: |
02466116 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Jayant Ramanlal Shah |
|
519500 |
|
Prabha Jayant Shah |
|
500 |
|
|
|
|
|
Total |
|
520000 |
(AS ON 30.09.2010)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provided of Hotel. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
15 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· State Bank of India Sir P. M. Road Branch, Gresham House, Fort, Mumbai – 400001,
Maharashtra, India · The Thane Janata Sahakari Bank Limited · Punjab and Maharashtra Co-operative Bank Limited |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
CC, TL Rs.860.000 Millions
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sharadkumar Vallabhdas Sanghavi Chartered Accountant |
|
Address : |
B-7, 706 Building No.85, Sury Kirit Tower, Tilak Nagar West, Mumbai –
400089, Maharashtra, India |
|
PAN No.: |
ADQPS5542J |
CAPITAL STRUCTURE
(AS ON 30.09.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
620000 |
Equity Shares |
Rs.10/- each |
Rs.6.200
Millions |
|
|
|
|
|
(AS ON 30.09.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
520000 |
Equity Shares |
Rs.10/- each |
Rs.5.200
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.200 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
45.900 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(0.034) |
(0.034) |
(0.034) |
|
|
NETWORTH |
51.066 |
0.066 |
0.066 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
64.373 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
63.870 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
128.243 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
179.309 |
0.066 |
0.066 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
174.590 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000 |
0.000 |
0.000 |
|
|
Cash & Bank Balances |
6.016
|
0.068 |
0.074 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
6.016
|
0.068 |
0.074 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
0.008
|
0.002 |
0.008 |
|
|
Other Current Liabilities |
1.289 |
0.000 |
0.000 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
1.297
|
0.002 |
0.008 |
|
|
Net Current Assets |
4.719
|
0.066 |
0.066 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
179.309 |
0.066 |
0.066 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Contributed by the Directors |
0.008 |
0.004 |
0.003 |
|
|
|
TOTAL |
0.008 |
0.004 |
0.003 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Auditors Remunerations |
0.006 |
0.002 |
0.001 |
|
|
|
Filling Fees |
0.002 |
0.002 |
0.002 |
|
|
|
TOTAL |
0.008 |
0.004 |
0.003 |
|
|
|
|
|
|
|
|
|
NET PROFIT/
(LOSS) FOR THE YEAR |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.034 |
0.034 |
0.034 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.034 |
0.034 |
0.034 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.54
|
0.03 |
0.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.64
|
34.00 |
9.25 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditor |
0.008
|
0.002 |
0.008 |
|
|
|
|
|
|
Total |
0.008
|
0.002 |
0.008 |
NAME CHANGE:
The Company has completed procedure to Change the Name of the Company from
TipTop Enterprises Private Limited to Hotel
Tiptop International Private Limited. The Company is awaiting the final
approval and fresh Certificate of Incorporation consequent upon Name Change
from the Registrar of Companies, Maharashtra, Mumbai.
HOTEL PROJECT:
During the year the Company resolved to be Hospitality Company.
Further, the Company has acquired plot of land to set up a Three Star Hotel
“Tiptop International” at Wakad, Pune, on the Pune-Mumbai Expressway. The
Company has finalized long term funding arrangements with State Bank of India,
The Thane Janata Sahakari Bank Limited and Punjab and Maharashtra Co-operative
Bank Limited. The Company has also approached ICRA Limited (an associate of
Moody’s Investor Service) for rating to the term loan to be availed financing
long term funding requirements of the said Hotel Project.
SHIFTING OF
REGISTERED OFFICE:
The Company is considering shifting of the Registered Office from Thane
to Pune within the State of Maharashtra which is actively considered by the
Board.
|
Sr. No. |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
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
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
FORM 8
|
This form is for |
Creation of
charge |
|||||||||||||||
|
Corporate
identity number of the company |
U55101MH1999PTC121084 |
|||||||||||||||
|
Name of the
company |
HOTEL TIPTOP INTERNATIONAL PRIVATE LIMITED |
|||||||||||||||
|
Address of the
registered office or of the principal place of business in |
14, Yashodhan Shivaji Path, Near Railway Station, Thane – 400601,
Maharashtra, India |
|||||||||||||||
|
Type of charge |
Immovable
Property |
|||||||||||||||
|
Particular of
charge holder |
State Bank of
India Sir P. M. Road
Branch, Gresham House, Fort, Mumbai – 400001, Maharashtra, India |
|||||||||||||||
|
Nature of
description of the instrument creating or modifying the charge |
No instrument.
memorandum of deposit for creation of charge for term loan/overall limit |
|||||||||||||||
|
Date of instrument
Creating the charge |
21/08/2010 |
|||||||||||||||
|
Amount secured by
the charge |
Rs.560.000
Millions |
|||||||||||||||
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest As per sanction
terms Terms of Repayment
As per sanction
terms Margin As per sanction
terms Extent and
Operation of the charge As per sanction
terms Others Not Applicable |
|||||||||||||||
|
Short particulars
of the property charged |
The company
offered collateral security by way of an equitable mortgage by deposit of
title deeds over the immovable properties by fixing the mortgage at Rs.
560.000 Millions in favour of SBI by way of first charge ranking pari passu basis with TJSBL and PMCBL.
|
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 proceedingfor 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.54.60 |
|
|
1 |
Rs.87.31 |
|
Euro |
1 |
Rs.69.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.