MIRA
INFORM REPORT
|
Report Date : |
18.04.2013 |
IDENTIFICATION DETAILS
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Name : |
AAMBY VALLEY CITY DEVELOPER LIMITED |
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Registered
Office : |
Hotel Sahara Star, Opposite Domestic Airport, Vile Parle (East),
Mumbai – 400099, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
24.02.2011 |
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Com. Reg. No.: |
11-213969 |
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Capital
Investment / Paid-up Capital : |
Rs.2.000
Millions |
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CIN No.: [Company Identification
No.] |
U45400MH2011PLC213969 |
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PAN No.: [Permanent Account No.] |
AAJCA2307C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The company is engaged in Construction, development and sale of plots residential and commercial property etc. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (12) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and delay |
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Litigation : |
Clear |
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Comments : |
Subject is a part of “SAHARA GROUP”. It is a relatively new company
having a moderate track record. In its first year of business operation company has recorded huge
loss. The group companies are facing severe financial crisis. The Market condition are unfavorable for real estate sector. However, business is active. Payments are reported to be slow and
delay. Taking into consideration the poor status of Sahara Group, the company
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 (PARTIAL DETAILS)
|
Name : |
Mr. Biju |
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Designation : |
Finance Executive |
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Contact No.: |
91-20-22900000 |
|
Date : |
16.04.2013 |
LOCATIONS
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Registered Office : |
Hotel Sahara Star, Opposite Domestic Airport, Vile Parle (East),
Mumbai – 400099, Maharashtra, India |
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Tel. No.: |
91-22-39895000 |
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Fax No.: |
91-22-39895001 |
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E-Mail : |
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Website : |
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Site Office : |
District Pune – 410401, Maharashtra, India |
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Tel. No.: |
91-20-22900000 |
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Fax No.: |
91-20-22965040 |
DIRECTORS
As on: 27.09.2012
|
Name : |
Mr. Swapna Roy |
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Designation : |
Director |
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Address : |
Sahara Shaher, Vipul, Khand Gomti Nagar, Lucknow - 226010,
Uttar Pradesh, India |
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Date of Birth/Age : |
02.06.1949 |
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Date of Appointment : |
24.02.2011 |
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DIN No.: |
00569192 |
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Name : |
Mrs. Vandana Bharrgava |
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Designation : |
Director |
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Address : |
B-48 ,J- Park, Mahanagar, Lucknow - 226006, Uttar Pradesh, India |
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Date of Birth/Age : |
20.09.1953 |
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Date of Appointment : |
24.02.2011 |
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DIN No.: |
00076909 |
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Name : |
Mr. Sushanto Roy |
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Designation : |
Director |
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Address : |
Sahara India House, New Hyderabad Colony, Lucknow – 226007, Uttar Pradesh, India |
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Date of Birth/Age : |
31.12.1974 |
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Date of Appointment : |
24.02.2011 |
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DIN No.: |
00155513 |
KEY EXECUTIVES
|
Name : |
Mr. Biju |
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Designation : |
Finance Executive |
MAJOR SHAREHOLDERS
As on: 27.09.2012
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Names of Shareholders |
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No. of Shares |
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Aamby Valley Limited |
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199994 |
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Subrata Roy Sahara |
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1 |
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Swapna Roy |
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1 |
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Om Prakash Srivastava |
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1 |
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Sushanto Roy |
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1 |
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Smt. Kumkum Roy Choudhary |
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1 |
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Smt. Vandana Bharrgava |
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1 |
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Total |
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200000 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.09.2012
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The company is engaged in Construction, development and sale of plots residential and commercial property etc. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Divulged |
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Financial
Institutions : |
SREI Equipment Finance Private Limited, 'vishwakarma', 86c, Topsia Road, Kolkata - 700046, West Bengal, India |
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Auditors : |
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Name : |
D. S. Shukla and Company Chartered Accountants |
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Address : |
GF-2, Ekta Apartments, 125 Chandralok, Aliganj, Lucknow-226024, Uttar Pradesh, India |
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PAN No.: |
AADFD7041H |
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Subsidiaries : |
AVL CANAL LIMITED CIN No.: U45201MH2011PLC213975 |
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Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives: |
· Aamby Valley Green Golf Limited CIN No.: U92412MH2011PLC213982 · Aamby Valley Limited CIN No.: U45200MH2006PLC160730 · Avl Villas Limited CIN No.: U45400MH2011PLC213972 · Avl Royal Apartments Limited CIN No.: U45201MH2011PLC213984 · Aamby Valley Airport Project Limited CIN No.: U62200MH2011PLC213988 · Sahara Housing Investment Corporation Limited CIN No.: U70102MH2004PLC145582 · Sahara India Real Estate Corporation Limited CIN No.: U45201UP2005PLC030918 · Sahara School Holding Limited CIN No.: U80211MH2007PLC169316 · Aamby Valley Global Sports Limited CIN No.: U45200MH2006PLC160731 · Sahara India Financial Corporation Limited CIN No.: U67120UP1987PLC008909 · Sahara India |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
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1] Share Capital |
|
2.000 |
2.000 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
216441.854 |
(0.231) |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
216443.854 |
1.769 |
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LOAN FUNDS |
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1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
128.083 |
0.000 |
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TOTAL |
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216571.937 |
1.769 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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10149.996 |
0.000 |
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Capital work-in-progress |
|
421.505 |
0.000 |
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INVESTMENT |
|
2.461 |
1.504 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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253859.872 |
0.000 |
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Sundry Debtors |
|
382.831 |
0.000 |
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Cash & Bank Balances |
|
91.242 |
0.292 |
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Other Current Assets |
|
52.632 |
0.000 |
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Loans & Advances |
|
1268.309 |
0.005 |
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Total
Current Assets |
|
255654.886 |
0.297 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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Sundry Creditors |
|
238.251 |
0.032 |
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Other Current Liabilities |
|
49408.012 |
0.000 |
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Provisions |
|
10.648 |
0.000 |
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Total
Current Liabilities |
|
49656.911 |
0.032 |
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Net Current Assets |
|
205997.975 |
0.265 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
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216571.937 |
1.769 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
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SALES |
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Income |
|
1119.805 |
0.000 |
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Other Income |
|
213.591 |
0.000 |
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TOTAL |
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1333.396 |
0.000 |
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Less |
EXPENSES |
|
|
|
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Cost of materials consumed |
|
|
0.231 |
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Purchases of stock-in-trade |
|
1350.000 |
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Changes in inventories of finished goods, work-in-progress and stock-in-trade |
|
(2213.061) |
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Employee benefit expense |
|
448.028 |
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Other expenses |
|
506.033 |
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Prior period items before tax |
|
0.209 |
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TOTAL |
|
1028.537 |
0.231 |
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PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
304.859 |
(0.231) |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
|
296.924 |
0.000 |
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PROFIT/ (LOSS)
BEFORE TAX |
|
7.935 |
(0.231) |
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|
|
|
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Less |
TAX |
|
128.083 |
0.000 |
|
|
|
|
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|
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PROFIT/ (LOSS)
AFTER TAX |
|
(120.148) |
(0.231) |
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EARNINGS IN
FOREIGN CURRENCY |
|
12.749 |
0.000 |
|
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Earnings/ (Loss)
Per Share (Rs.) |
|
(600.74) |
(1.15) |
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KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
(9.01) |
0.00 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
0.71 |
0.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
0.00 |
(77.78) |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.00 |
0.13 |
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Debt Equity Ratio (Total Debt /Networth) |
|
|
0.00 |
0.00 |
|
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|
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Current Ratio (Current Asset/Current Liability) |
|
|
5.15 |
9.28 |
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 |
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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 two years |
Yes |
|
12] |
Profitability for last two 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 |
No |
|
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 |
Note: Mr. Biju, finance Executive has confirmed that the subject is a subsidiary of ‘Aamby Valley limited’ with effect from 1st April 2012 and was formerly known as “Sahara India Commercial Corporation Limited”. The subject belongs to Sahara Group.
BUSINESS OPERATIONS:
Global economic recovery is losing traction due to continuing Euro zone debt crisis and the resultant austerity measures being taken by the Euro zone countries. Domestically, the state of the economy is a matter of growing concern with slowing economy, persistently high inflation, uncertain political environment and depreciation of the Indian Rupee weakening the overall economic sentiment of the country.
During the year the real estate development business of Aamby Valley Limited relating to construction, development and sale of residential projects / units on a going concern basis along with all related assets, liabilities, employees, other than Real Estate Villas Undertaking, Real Estate Canals Undertaking, Real Estate Apartment Undertaking and including hospitality undertaking of Aamby Valley Limited was transferred to your Company pursuant to the Composite Scheme of Arrangement and Amalgamation passed by Hon’ble High
Court, Bombay.
The Company is currently focusing on the launches in the residential segment comprising of well-balanced product mix of super luxury residences, premium apartments and plotted development.
On the Hospitality front, The Company in the forth coming year will continue to provide the highest standard of indulgence to cater to one of the most individualized hospitality experiences with perfect blend of Indian Culture and nature.
COMPOSITE SCHEME OF
ARRANGEMENT AND AMALGAMATION:
The Final order of the Hon’ble High Court of Judicature at Bombay pertaining to the Composite Scheme of arrangement and amalgamation between Aamby Valley Limited, Aamby Valley City Developer Limited, AVL Villas Limited, AVL Canal Limited, AVL Royal Apartments Limited, Aamby Valley Green Golf Limited, Aamby Valley Airport Project Limited, Aamby Valley Global Sports Limited, Aamby Valley Mega Retails Limited, Aamby Entertainment Services Limited, AVL Hotels and Resorts Limited, AVL Land Holdings Company Limited and Aamby Valley “V” Ventures Private Limited, and their respective shareholders and creditors(‘the Scheme’); was passed on 20.01.2012 and subsequently the certified copy of the said order was filed with Registrar of companies on 20.03.2012 upon which the scheme became effective.
As per terms and conditions of the scheme the Real Estate Hold Co Undertaking of Aamby Valley Limited (the ultimate parent Company) along with its movable and immovable properties was transferred to your Company on a going concern basis at nil consideration. Further to the dissolution of Aamby Valley “V” Ventures Private Limited pursuant to the Scheme, the Company became wholly owned subsidiary of Aamby Valley Limited.
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Computer equipments
AS PER WEBSITE DETAILS:
AAMBY VALLEY CITY AND
HOTEL SAHARA STAR ANNOUNCED PERFORMERS FOR GLITTERATI 2013
The performances this year will include scintillating performances by the dashing Arjun Kapoor, the beautiful Parineeta Chopra, the versatile singer Mika Singh and the sultry Anjana Sukhani culminating in a celebration to remember.
In a press conference held at Sahara Star Hotel, Vivek Kumar, CEO Aamby Valley City and Hotel Sahara Star announced the performers for Glitterati, the annual New Year bash at Aamby Valley City. The performances this year will include scintillating performances by the dashing Arjun Kapoor, the beautiful Parineeta Chopra, the versatile singer Mika Singh and the sultry Anjana Sukhani culminating in a celebration to remember.
On 31st December 2012 is when Aamby Valley City will unveil the New Year’s magic for select audience. Nestled amongst the Sayadhari range, the Aamby Valley city will offer surreal surroundings for guests to welcome the New Year with panache and style. Spectacular performances coupled with delectable delights and concoctions prepared by the crčme de la crčme of the culinary world promises to make this a breathtaking event.
This year, Glitterati 2013 is all set to take its guests back in time as the theme of the extravaganza is “Retro”. With a perfect groovy ambience to celebrate the new year, Aamby Valley City will charm the guests in a retro style along with unique performances by well known artists who are all set to mesmerize the crowd with their enchanting moves.
Addressing the media Vivek Kumar, CEO Aamby Valley City and Hotel Sahara Star shared, “New Year Celebrations at Aamby Valley City have always been an affair to remember. This year as well Glitterati 2013 will be a memorable night for our guests. We are thrilled to have the talented Arjun Kapoor, Parineeti Chopra, Mika Singh and Anjana Sukhani performing at life’s finest abode, Aamby Valley City.”
Brimming with excitement Arjun Kapoor effusively said, “Aamby Valley City is truly a paradise and I am extremely thrilled to celebrate New Year’s, in this serene and beautiful location, with all my fans. It is the ideal destination to bring in the New Year and perform with my talented co-star Parineeti Chopra.”
Mika Singh commented “I am very excited to perform at the luxurious destination, Aamby Valley City. I look forward to bringing in the New Year at this fabulous destination with my fans.”
Commenting on the occasion Parineeti Chopra said, “I am elated to be given an opportunity to entertain my fans at one of India’s premier locations, Aamby Valley City. I am looking forward to Glitterati 2013 that will undoubtedly be a night to remember.”
A thrilled Anjana Sukhani said “Aamby Valley city is one of the few places you can call paradise on earth. I am extremely thrilled at the opportunity to perform at this luxury showcase place and I’m looking forward to a night of celebration at Glitterati 2013.”
The Aamby Valley City New Year celebration is the most awaited event of the year which is attended by the most affluent and illustrious. So get ready to welcome the New Year with panache at Glitterati 2013.
SAHARA HITS BACK AT
SEBI CHIEF OVER REFUNDS
Rich men’s SEBI does
not understand, recognise poor Investors
Sahara complained that SEBI Chairman Sri U.K. Sinha neither gave time to meet our Chairman since last one year nor he accepted the invitation for appearing with our Chairman in T.V. Channel for informing people the truth and torture given to Sahara. Such a big responsible person should not give irresponsible statements that how and why Rs.20,000 crores repayments were made in 4 months and 90% was paid in cash. Well, he should have asked these questions to Sahara first.
Repeatedly we have written to SEBI and everywhere that our investors are very small and mostly living in small townships and rural areas. These investors do not go to Banks and Banks do not come to them.
Our investors profile
on the basis of principal amount
Upto Rs. 5, 000/- = 1.33 crores, upto Rs.10,000/- another 0.88 crores, upto Rs.15,000/- another 0.42 crores, upto Rs.20,000/- another 0.36 crores. This totals to 2.99 crores out of total investors of 3.07 crores. We genuinely hope that the SEBI Chairman should kindly send an amended statement to Media with realisation and apologies that why cash repayments to around 90% investors have been made and the 90% cash payments are totally justified.
Upto Rs. 20,000 repayments (including interest) it is cash payments only as per country’s law.
It should also be clear that 90% amount of investors in both the companies have come from investors upto Rs.20, 000 that is 2.99 Crores. So any logical but unbiased mind shall be convinced, accept and understand our challenge in the past also that there cannot be any case of fictitious, fake investors in Sahara.
He has also mentioned about paying Rs. 20,000 crores in 4 months. But majority payments are in 5 months plus time.
SEBI knows the reason very well that upto April 2012, esteemed investors through our committed and highly concerned field workers in Lakhs, knew that Hon’ble Supreme Court is likely to give 5 – 6 years against security of properties. We have submitted the valuation reports of properties to Hon’ble Supreme Court.
In fact in case of RNBC under regulation of Reserve Bank in 2008, RBI had given 7 years time to repay. This 7 years time was given within 10 days from the date of Prohibitory Order. So there was no chance, no reason of big rushes demands of any nature.
Again the same profile of investors in RNBC also that is deposit of around Rs.20,000 crores with 3 crores plus investors. Important to note that we had almost repaid all liabilities 3 years in advance in RNBC.
But all of sudden in May 2012, 1st Week, Hon’ble Supreme Court ordered for continuous hearing in June 2012 and decision had to be given the same time.
During April 2012, one news was probably infected by some interested party which spread like wild fire in our field, Countrywide that in case of Golden Forest Company which was exactly similarly initiated and fought by SEBI. After Hon’ble Supreme Court’s decision in 2004 in this Golden Forest Company for repayment, not a single rupee has been paid to any investors till today that is in 8 – 9 years. Workers and Investors also knew that there were dozens of other Companies where, SEBI’s had taken action but not a single investor have received one rupee till now.
Also, company as sole custodian of Investors money from last 34 years got concerned about Esteemed very small investors.
Then there was big rush with demands for repayments. There were big – big queues in front of offices throughout the country. We had to repay big sum but could contain to a great extent the rush by around middle of June. So almost 60% repayments had to be done in around 45 days only. Really a very difficult time for Sahara for no fault of ours.
No fault of ours since we did this OFCD business after we got all valid permissions in writing from Central Government through Ministry of Corporate affairs as our regulator who continuously used to inspect and investigate, all Balance Sheets etc. were regularly to be submitted to them etc. etc. for last 10 – 11 years as our regulator but we faced and are facing very difficult days with retrospective effect punishments. Government departments who gave us written permission are not accused at all. Had they not given these permissions we would not have collected even one rupee and we would not have faced any problem. Well we are Prajas and they are Rajas.
One thing SEBI should understand that, had there been any hanky – panky by Sahara as accused by Chairman SEBI, then why we could not manage 5000 Crore which we have paid to SEBI.
Humble request to SEBI to act Judiciously like a very responsible and very big Regulator as big brother of society.
SAHARA CITY HOMES
BRINGS DUPLEX APARTMENT CONCEPT TO INDORE
Coimbatore, May 27, 2009: Sahara Prime City Limited, the real estate company of Sahara India Pariwar
Indore, May 27, 2009: Sahara Prime City Limited, the real estate company of Sahara India Pariwar announces construction of the Duplex apartments at its Sahara City Homes brand of township at Indore. Pioneering the concept of Duplex Apartments in Indore, Sahara City Homes is the real estate project which will offer the duplex apartment option to the people of Indore. The company will initially construct two blocks comprising of 36 duplex apartments. Sahara City Homes Indore, the 88.5 acres lifestyle township coming up at N.H. - 3, Agra- Bombay by-pass road at Bicholi Mardana, is a part of the chain of 217 self sufficient high quality townships developed by the company. The construction work of Sahara City Homes Townships in Lucknow, Nagpur, Indore, Coimbatore, Gwalior and Ahmedabad is in full swing.
The duplex apartments which remained a luxury product in metros, is introduced to the city with an intention to bring the same lifestyle products to smaller cities. The duplex apartments offer a segregation of space into formal and informal living areas and permit their integration through vertically flowing space linking the lower and upper floors. By splitting the floor plate at two levels, the window area per unit floor area gets doubled, making the space more airy and bright. Moreover, it enables shortening of average distance of living areas from the window wall- thus enlarging the cone of daylight incumbent inside the interior space.
The Zenith Duplex Apartments at Sahara City Homes Indore will have a product mix of 3 BHK and 4 BHK with area ranging from 1966 sq.ft. to 2614 sq.ft. with stilt plus six floors and two lifts. The construction of these apartments is being carried out at two levels by splitting the average per floor area into half and at the same time doubling the area of window wall available per unit floor space. The duplex not only facilitates physical and visual movement in horizontal dimension but also utilizes the vertical dimensions within the living space; thereby making the experience of residing more interesting. In order to make duplexes more convenient for the residents, the low-height and broad-width stairs are designed which makes the stairs easy and pleasurable to negotiate.
Speaking on the occasion, Mr. Suryavir Singh – Head, Strategic Planning, Sahara Prime City Limited, said, “The duplex apartments in Sahara City Homes Indore are equipped to meet the multi-faceted lifestyles of the more discerning populace. The three and four bedroom duplexes are well designed to maximize comfort while making a statement of style and elegance. As most of the duplexes are open on three sides, the residents are exposed to an unhindered view of the township, natural light and cross ventilation.”
Sahara City Homes, Indore is planned to have one to five bedrooms residential units in the category of high-rise and mid-rise apartments, independent row houses, penthouses and independent bungalows. The township aims toprovide a good community living to the people of Indore by offering amenities such as club and community center, hospital, shopping mall and multiplex, school, hotel and club, uninterrupted power and water supply, multilevel security, retirement home, local transport and Central park. Playground equipped with floodlights will be the special feature of Sahara City Homes, Indore. Every essential service like Convenience Stores, Banking and Postal services etc. will ensure convenience for the residents. A Service Center just a call away will take care of all Plumbing, Electrical Repair and Taxi requirements. A combination of AC and Non-AC buses would provide good commuting facilities.
Designed by the famous architect Shri Hafeez Contractor this fully air-conditioned township will provide the best community living and will change the living standards of people of Indore.
About Sahara Real
Estate Business
Sahara has developed commercial as well as residential projects which include townships, premium group housing projects, malls, retail spaces, hospitals, hotels, to name a few. Sahara is also credited with the development of Aamby Valley City, near Mumbai.
The flagship project of Sahara Prime City Limited. is ‘Sahara City Homes’ - a chain of townships proposed to be developed across 217 cities in India.
Residential Projects
Completed
Sahara States Township – Lucknow 85.18 Acres
Sahara States Township – Hyderabad 44.64 Acres
Sahara States Township – Bhopal 57.07 Acres
Sahara States Township – Gorakhpur 152.76 Acres
Sahara Grace – Gurgaon 11 Acres
Commercial Projects
Completed
Sahara Mall – Gurgaon 3 Lac 94 Thousand sq.ft. (Built up Area)
Sahara Ganj – Lucknow 5 Lac 25 Thousand sq.ft. (Built up Area)
Sahara Star – Mumbai 223 Guest Room, 9 Suites, 9 Specialty Restaurants and Bars, 3 Seminar Rooms and Presidential Board Rooms with a seating capacity for 77 individuals.
Sahara Hospital – Lucknow 554 bedded multi super-speciality tertiary care hospital
On Going Projects
Sahara Grace – Lucknow 10 Acres and no. of units 448
Sahara Grace – Kochi 15 Acres and no. of units 728
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.53.94 |
|
|
1 |
Rs.82.77 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYN |
|
|
|
|
Report Prepared
by : |
RAJ |
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 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
12 |
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.