|
Report Date : |
13.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
EZEEGO ONE TRAVEL AND TOURS LIMITED (w.e.f.14.03.2008) |
|
|
|
|
Formerly Known
As : |
EZEEGO ONE TRAVEL AND TOURS PRIVATE LIMITED (w.e.f.13.03.2008) EZEEGO ONE TRAVELS AND TOURS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1st Floor, Cecil Court, Lansdowne Road, Coloba, Mumbai -
400039, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
06.01.2006 |
|
|
|
|
Com. Reg. No.: |
11-158683 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 1.136
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63040MH2006PLC158683 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Online Travel Portal |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
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 : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record.
Profitability of the company is under severe pressure. There appears to be
huge accumulated losses recorded by the company. Trade relations are reported
as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealing on a secured trade
terms and condition. |
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
|
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 DECLINED BY
|
Name : |
Mr. Govind |
|
Designation : |
Deputy General Manager in Finance |
|
Contact No.: |
91-9820582505 |
|
Date : |
13.04.2013 |
LOCATIONS
|
Registered Office : |
1st Floor, Cecil Court, Lansdowne Road, Coloba, Mumbai –
400039, Maharashtra, India |
|
Tel. No.: |
91-22-22024135/ 61968888/ 66723333 |
|
Mobile No.: |
91-9820582505 (Mr. Govind) |
|
Fax No.: |
91-22-29203267 |
|
E-Mail : |
agents.registration@ezeego1.com
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
Classic Centre, 4th Floor, B-Wing, Mahal Industrial Estate,
Mahakali Caves Road, Andheri (East), Mumbai - 400059, Maharashtra, India |
|
Tel. No.: |
91-22-67309400/ 61969696 |
|
Fax No.: |
91-22-26879965/ 66 |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mrs. Urrshila Kerkar |
|
Designation : |
Director |
|
Address : |
11, Nowroji Mansion, 31, Woodhouse Road, Colaba, Mumbai - 400039,
Maharashtra, India |
|
Date of Birth/Age : |
04.05.1958 |
|
Date of Appointment : |
06.01.2006 |
|
DIN No.: |
00021210 |
|
|
|
|
Name : |
Mr. Arup Sen |
|
Designation : |
Director |
|
Address : |
51, Jaldarshan, Nepeansea Road, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
16.01.1957 |
|
Date of Appointment : |
06.01.2006 |
|
DIN No.: |
00035405 |
|
|
|
|
Name : |
Mrs. Neelu Singh |
|
Designation : |
Director |
|
Address : |
B-607, Sunset, Raheja Vihar, Chandivali Studio, Powai, Mumbai –
400072, Maharashtra, India |
|
Date of Birth/Age : |
28.10.1972 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
02072705 |
KEY EXECUTIVES
|
Name : |
Mr. Govind |
|
Designation : |
Deputy General Manager in Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
% of Holdings |
|
Urrshila Ajit Kerkar |
46667 |
41.08 |
|
Ajay Ajit Peter Kerkar |
3333 |
2.93 |
|
Cox and Kings Limited, |
9000 |
7.92 |
|
Neelu Singh |
500 |
0.43 |
|
Pratima Alvares |
200 |
0.18 |
|
Peter Fernandes |
200 |
0.18 |
|
Sunil Menon |
200 |
0.18 |
|
Coad Management Mauritius Limited, Mauritius |
53500 |
47.10 |
|
|
|
|
|
Total |
113600 |
100% |
AS ON 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
47.10 |
|
Bodies
corporate |
|
7.92 |
|
Directors
or relatives of directors |
|
44.44 |
|
Other
top fifty shareholders |
|
0.54 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Online Travel Portal |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Ø Deutsche Bank, D
N Road, Fort Branch, Mumbai, Maharashtra, India Ø ICICI Bank, Fort
Branch, Mumbai, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Motilal and Associates Chartered Accountants |
|
Address : |
11/13, M.K. Amin Marg, 1st Floor, Bora Bazar, Mumbai – 400001,
Maharashtra, India |
|
Tel. No.: |
91-22-22663526 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AHEPJ9550F |
|
|
|
|
Enterprises over which Key Management Personnel exercise significant
influences : |
Cox and Kings (India) Limited |
|
|
|
|
Subsidiaries : |
Ø Forever Travel
Distribution Private Limited [U63040mh2004ptc147239] Ø Ezeego One Travel
and Tours Limited, USA |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
113,600 |
Equity Shares |
Rs. 10/- each |
Rs. 1.136
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.136 |
1.136 |
0.601 |
|
|
2] Share Application Money |
0.000 |
804.240 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
99.910 |
|
|
4] (Accumulated Losses) |
(2251.424) |
(1810.356) |
(1608.516) |
|
|
NETWORTH |
(2250.288) |
(1004.980) |
(1508.005) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
2329.469 |
206.619 |
100.000 |
|
|
TOTAL BORROWING |
2329.469 |
206.619 |
100.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
79.181 |
(798.361) |
(1408.005) |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
195.982 |
55.294 |
77.621 |
|
|
Capital work-in-progress |
114.361 |
57.938 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
55.010 |
55.000 |
55.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000
|
|
|
Sundry Debtors |
842.699
|
270.219 |
112.446
|
|
|
Cash & Bank Balances |
44.746
|
34.179 |
63.396
|
|
|
Other Current Assets |
36.163
|
37.577 |
0.000
|
|
|
Loans & Advances |
197.775
|
92.196 |
151.049
|
|
Total
Current Assets |
1121.383
|
434.171 |
326.891 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
867.062
|
1262.403 |
1324.595 |
|
|
Other Current Liabilities |
540.493
|
138.361 |
540.765
|
|
|
Provisions |
0.000
|
0.000 |
2.157
|
|
Total
Current Liabilities |
1407.555
|
1400.764 |
1867.517
|
|
|
Net Current Assets |
(286.172)
|
(966.593) |
(1540.626)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
79.181 |
(798.361) |
(1408.005) |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
782.116 |
393.095 |
111.713 |
|
|
|
Other Income |
2.670 |
2.339 |
0.254 |
|
|
|
TOTAL (A) |
784.786 |
395.434 |
111.967 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expenses |
229.055 |
155.696 |
123.733 |
|
|
|
Other Expenses |
660.962 |
449.896 |
262.828 |
|
|
|
TOTAL (B) |
890.017 |
605.592 |
386.561 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(105.231) |
(210.158) |
(274.594) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
307.571 |
60.077 |
96.893 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(412.802) |
(270.235) |
(371.487) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
28.267 |
31.515 |
49.321 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(441.069) |
(301.750) |
(420.808) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(441.069) |
(301.750) |
(420.808) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(3883.00) |
(2656.00) |
(7019.11) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(56.20)
|
(76.31)
|
(375.83)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(56.39)
|
(76.76)
|
(376.69)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(33.48)
|
(61.52)
|
(104.03)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.30 |
0.28
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(1.04)
|
(0.21)
|
(0.07)
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.80
|
0.31 |
0.18
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors for Purchase |
867.062
|
1262.403 |
1324.595 |
|
|
|
|
|
|
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 |
No |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
No |
|
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 |
No |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
12% Fully
Convertible Debentures -
From
Related Party |
100.000 |
100.000 |
|
From Related
Party |
153.281 |
106.619 |
|
From Others |
2076.188 |
0.000 |
|
Total |
2329.469 |
206.619 |
COMPANY OVERVIEW
The Company is registered in the name of Ezeego One Travel and Tours
Limited on 06.01.2006 under the Companies Act 1956 with the business object of providing
services on commercial basis that may required for the tourist, travel and
entertainment industry. In India or any other part of the world and to
encourage and carry on and facilitate tourist trade in India or abroad and
subject to any law for the time being in force to exchange and to deal in
foreign exchange.
CONTINGENT LIABILITIES IN RESPECT OF
Claims against the company not acknowledge as
debts – Rs. 4.792 Millions
FIXED ASSETS
Ø Computers
Ø Furniture and Fixtures
Ø Office Equipments
Ø Leasehold Premises
Ø Intangible Assets - Trade Marks
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 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. 54.44 |
|
|
1 |
Rs. 83.78 |
|
Euro |
1 |
Rs. 71.33 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
1 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
15 |
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.