|
Report Date : |
08.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
GOAN HOTELS AND CLUBS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
DB House, Yashodham, General A K Vaidya Marg, Goregaon (East), Mumbai
– 400063, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
25.10.2004 |
|
|
|
|
Com. Reg. No.: |
11-149219 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.825 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U5510MH2004PTC149219 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG11332G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Hospitality Services. |
|
|
|
|
No. of Employees
: |
11 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Latest
financials are not available. As confirmed by Mr. Noorkhan Accounts Manager
that even though the company was incorporated in the year 2004. The company
started its business activity from the year 2011. However, he provided
general information and denied to disclose financial details. Business is
active. Payments terms are unknown. The company can be considered for business dealings on a secured trade
terms and conditions. Note: Due to
technical error in the government sites, we hereby provide you to the report
with available details and we would provide you with a on the same company as
soon as we get the additional information.
|
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. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
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 (GENERAL INFORMATION)
|
Name : |
Mr. Noorkhan |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-40778600 |
|
Date : |
03.04.2013 |
LOCATIONS
|
Registered/ Head Office : |
DB House, Yashodham, General A K Vaidya Marg, Goregaon (East), Mumbai
– 400063, Maharashtra, India |
|
Tel. No.: |
91-22-40778600 |
|
Fax No.: |
91-22-28422444 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Site Office : |
Aldeia De, Goa-403201, India |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Asif Yusuf Balwa |
|
Designation : |
Director |
|
Address : |
5th Floor, Razia
Manor, Off Alrneida Park, Bandra (West), Murnbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
07.06.1970 |
|
Date of Appointment : |
17.06.2008 |
|
DIN No.: |
00017934 |
|
|
|
|
Name : |
Mr. Rajiv Batekrishna Agarwal |
|
Designation : |
Managing director |
|
Address : |
8-802 Shagun
Tower, Gen A. K. Vaidya Marg, Goregoan (East), Mumbai - (400063),
Maharashtra, India |
|
Date of Birth/Age : |
18.03.1962 |
|
Date of Appointment : |
04.11.2006 |
|
DIN No.: |
00030453 |
|
|
|
|
Name : |
Ms. Julian Robert Kenneth John Groom |
|
Designation : |
Director |
|
Address : |
B 402
Patliputra, Achyatrao Patwardhan Marg, Four Bunglows, Andheri (West), Mumbai
– 400053, Maharashtra, India |
|
Date of Birth/Age : |
18.02.1960 |
|
Date of Appointment : |
17.06.2008 |
|
DIN No.: |
02412744 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Shahid U. Balwa |
500 |
|
Vinod K. Goenka |
500 |
|
D B Hospitality Private Limited |
77250 |
|
TOTAL
|
78250 |
AS ON 30.09.2010
|
Equity Share
Break up |
Percentage |
|
Other top fifty shareholders |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Hospitality Services. |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
|
|
|
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|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
No. of Employees : |
11 (Approximately) |
||||||||||||||||||||||||||||||||||||
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. A. Parekh and Company Chartered Accountants |
|
Address : |
Yusuf Building, 2nd Floor, 43, Mahatma Gandhi Road, Fort,
Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22041018/22043850/22020187 |
|
Fax No.: |
91-22-22874524 |
|
E-Mail : |
|
|
PAN.: |
AAAFM1433H |
|
|
|
|
Holding Company : |
D B Hospitality Private Limited |
|
|
|
|
Fellow Subsidiaries : |
|
|
|
|
|
Enterprises on which director(s) of the Company exercise significant
influence (Associated Enterprises) : |
|
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
78250 |
Equity Shares |
Rs.100/-
each |
Rs.7.825
Millions |
|
|
|
|
|
Note: The above equity shares are held by the
holding company, D B Hospitality Private Limited and its nominees.
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 |
7.825 |
7.825 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
618.000 |
618.000 |
392.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
625.825 |
625.825 |
397.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2010.770 |
1315.767 |
358.154 |
|
|
2] Unsecured Loans |
773.786 |
0.000 |
100.928 |
|
|
TOTAL BORROWING |
2784.556 |
1315.767 |
459.082 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3410.381 |
1941.592 |
856.082 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.290 |
3.129 |
1.958 |
|
|
Capital work-in-progress |
2462.609 |
1422.124 |
813.063 |
|
|
Pre-operative Expenditure, Pending Capitalisation |
551.336 |
253.782 |
61.792 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
|
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
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 |
502.011
|
279.261 |
22.488 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.424
|
21.596 |
0.782 |
|
Total
Current Assets |
503.435
|
300.857 |
23.270 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
100.526
|
31.905 |
37.536 |
|
|
Other Current Liabilities |
6.260
|
4.678 |
6.333 |
|
|
Provisions |
3.746
|
1.960 |
0.375 |
|
Total
Current Liabilities |
110.532
|
38.543 |
44.244 |
|
|
Net Current Assets |
392.903
|
262.314 |
(20.974) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.243 |
0.243 |
0.243 |
|
|
|
|
|
|
|
|
TOTAL |
3410.381 |
1941.592 |
856.082 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
240.104 |
33.191 |
NA |
|
|
TOTAL IMPORTS |
240.104 |
33.191 |
NA |
|
|
|
|
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.63
|
2.16 |
1.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.55
|
7.81 |
0.53 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
|
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 |
No |
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
100.526
|
31.905 |
37.536 |
|
Total |
100.526
|
31.905 |
37.536 |
NOTE
The registered address of the company Conwood House, Yashodham, Gen A K Vaidya
Marg, Goregaon (East), Mumbai, Maharashtra, India has been shifted to the
present address w.e.f. 03.03.2009
OPERATIONS
During the period, Company has continued
development and construction of five Star Hotel project at Goa.
FORM 8
|
Corporate
identity number of the company |
U55101MH2004PTC149219 |
|
Name of the
company |
GOAN HOTELS AND
CLUBS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
DB House,
Yashodham, General A K Vaidya Marg,
Goregaon (East), Mumbai – 400063, Maharashtra, India Email Id : mamata.pawar@dbg.co.in |
|
This form is for |
Creation
of charge |
|
Type of charge |
Immovable
property Movable property (not
being pledge) Including hotel
receivables(both present and future) |
|
Particular of
charge holder |
Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of
India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India Email Id : shareholders@yesbank.in |
|
Nature of
instrument creating charge |
Deed of
Hypothecation Memorandum of
Entry |
|
Date of
instrument Creating the charge |
23.09.2011 |
|
Amount secured by
the charge |
Rs.2320.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest TL-YBL Base rate
+ 4.75%. Current YBL base rate is 10.25% ULC/SLC/LUT for
BC-To be decided at the time of disbursement Terms of repayment TL- The Facility
shall be repaid in 32 structured quarterly installments after a moratorium of
12 months from the COD Margin N.A. Extent and
operation of the charge Exclusive charge
over project land and Structure (Present and future) and all other project
Fixed Assets (site- Grand Hyatt Hotel, Survey No. 12/1 (PT), 12/2, 99/2,
Village-Bambolin, Taluka- Tiswadi, IIhas, District North Goa, State- Goa) and
Exclusive charge on all the current assets of the company including hotel
receivables (both present and future) |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Exclusive charge
over project land and Structure (Present and future) and all other project Fixed
Assets (site- Grand Hyatt Hotel, Survey No. 12/1 (PT), 12/2, 99/2,
Village-Bambolin, Taluka- Tiswadi, IIhas, District North Goa, State- Goa) and Exclusive charge on all the
current assets of the company including hotel receivables (both present and future) |
FIXED ASSETS
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. 54.88 |
|
|
1 |
Rs. 83.54 |
|
Euro |
1 |
Rs. 70.90 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
11 |
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.