MIRA INFORM REPORT
|
Report Date : |
19.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
MARVEL OMEGA BUILDERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4th Floor, Above IDBI Bank, Arthavishwa Building, Lane
No.5, Koregaon Park, Pune – 411006, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 (10 Months) |
|
|
|
|
Date of
Incorporation : |
18.06.2010 |
|
|
|
|
Com. Reg. No.: |
136620 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200PN2010PTC136620 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
To carry on business as promoters, developers, civil contractors of
flats, apartments, buildings, bridges and any other civil construction
activity / projects and to act as architectural consultants. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
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 |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject belongs to ‘Marvel Promoters and Developers [Pune] Private Limited’.
It is a company having a moderate track record. The latest financials are not made available. As per previous year’s
record, there appeared some accumulated loss recorded by the company. The
financial strength of the company is below-average. It was found in the
process of executing various projects. However, business is active.
Payment terms are unknown. 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.
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 |
EPF (Employee Provident Fund) DEFAILTERS’ 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. Bhushan Bharambe |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-9326565695 |
|
Date : |
19.04.2013 |
LOCATIONS
|
Registered Office : |
4th Floor, Above IDBI Bank, Arthavishwa Building, Lane
No.5, Koregaon Park, Pune – 411006, Maharashtra |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9326565695 (Mr. Bhushan
Bharambe) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Vishwajeet Subhash Jhavar |
|
Designation : |
Director |
|
Address : |
A-10, Flat no.1, Meera Nagar, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
03.05.1969 |
|
Date of Appointment : |
18.06.2010 |
|
DIN No.: |
00158203 |
|
|
|
|
Name : |
Mr. Mahesh Bansilal Laddha |
|
Designation : |
Director |
|
Address : |
Flat No.1, Novelty Co-operative Society, Behind Maruti Care Point Near
Chatursinghi Temple, Pune – 411016, Maharashtra, India |
|
Date of Birth/Age : |
10.08.1965 |
|
Date of Appointment : |
18.06.2010 |
|
DIN No.: |
00158212 |
KEY EXECUTIVES
|
Name : |
Mr. Bhushan Bharambe |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
EQUITY SHARES AS ON 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Marvel Promoters and Developers [Pune] Private Limited, Pune |
|
104095 |
|
Marvel Realtors and Developers Limited, Pune |
|
05 |
|
HDFC Asset Management Company Limited, Mumbai |
|
100000 |
|
Total |
|
204100 |
SECURED OPTIONALLY CONVERTIBLE DEBENTURES AS ON 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Marvel Realtors and Developers Limited, Pune |
|
1489590 |
|
HDFC Asset Management Company Limited, Mumbai |
|
5490000 |
|
Total |
|
6979590 |
AS ON 28.09.2012
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To carry on business as promoters, developers, civil contractors of flats,
apartments, buildings, bridges and any other civil construction activity /
projects and to act as architectural consultants. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Not Divulged |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Financial
Institutions: |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Birla and Company Chartered Accountant |
|
Address : |
5th Floor, Arthvishwa, 5th Lane 5, Koregaon Park, Pune – 411001,
Maharashtra, India |
|
|
|
|
Parties Where control exists by value of common directorship with whom
transactions have taken place during the year
: |
Marvel Promoters and Development [Pune] Private Limited |
CAPITAL STRUCTURE
AS
ON 31.03.2011 (10 Months)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
||
|
|
|
|
|
|
|
After 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares Class A |
Rs.10/- each |
Rs.1.500 Millions |
|
|
Equity Shares Class B |
Rs.10/- each |
Rs.1.500 Millions |
|
|
Total |
|
Rs.3.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
104100 |
Equity Shares Class A |
Rs.10/- each |
Rs.1.041 Millions |
||
|
100000 |
Equity Shares Class B |
Rs.10/- each |
Rs.1.000 Millions |
||
|
|
Total |
|
Rs.2.041
Millions |
|
|
Debentures:
|
No. of Debentures |
Type |
Value |
Amount |
|
|
|
6979590 |
Fully Convertible |
Rs.100/- each |
Rs.697.959 Millions |
||
|
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
18.06.2010 TO 31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(6.324) |
|
|
NETWORTH |
|
|
(6.224) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
2.965 |
|
|
TOTAL BORROWING |
|
|
2.965 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
(3.259) |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.039 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.051 |
|
Total
Current Assets |
|
|
0.090 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.019 |
|
|
Other Current Liabilities |
|
|
3.330 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
3.349 |
|
|
Net Current Assets |
|
|
(3.258) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
(3.259) |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
18.06.2010 TO 31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
|
0.051 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
|
6.375 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
(6.324) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
(6.324) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
(6.324) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
(632.38) |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
18.06.2010 TO 31.03.2011 |
|
PAT / Total Income |
(%) |
|
|
(12400.00) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(7026.66) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(1.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
(0.48) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
0.03 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS:
PARTICULARS
|
|
|
Rs.
In Millions 18.06.2010 TO 31.03.2011 |
Sundry Creditors – Contractors
|
|
|
0.019 |
|
|
|
|
|
|
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 |
Yes |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
No |
|
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 |
OPERATIOGS
AGD FUTURE PROSPECTS:
The subject
is newly incorporated and in the process of executing various projects and has
reported tremendous growth in all its endeavors during the financial year; The
subject has reported loss for the financial year However, the Board of
Directors of the subject is confident that it would be compensated in the forth
coming years.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U45200PN2010PTC136620 |
|
Name of the
company |
MARVEL OMEGA
BUILDERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
4th Floor, Above
Idbi Bank, Arthavishwa Building, Lane No.5,
Koregaon Park, Pune – 411006, Maharashtra, India |
|
This form is for |
Creation
of charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
HDFC ASSET
MANAGEMENT COMPANY LIMITED |
|
Nature of
instrument creating charge |
Memorandum of Entry
dated 23rd December, 2011, attached herewith |
|
Date of
instrument Creating the charge |
23/12/2011 |
|
Amount secured by
the charge |
Rs.801.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest N. A.; Charge
created against immovable property of the Company for Secured debentures
issued by Marvel Realtors and Developers Limited. Terms of
Repayment N. A.; Charge
created against immovable property of the Company for Secured debentures
issued by Marvel Realtors and Developers Limited. Margin N. A.; Charge
created against immovable property of the Company for Secured debentures
issued by Marvel Realtors and Developers Limited. Extent and
Operation of the charge First Ranking Exclusive
Mortgage by deposit of title deeds over Company's immovable property as
detailed in the Schedules of the Memorandum of Entry attached herewith. Others Charge created
against Company's immovable property for Issue of Eighty lakh {Series-I (40
lacs) and Series-II (40 Lacs)} fully secured Optionally Convertible
Redeemable debentures of Rs. 100/- each by Marvel Realtors and Developers
Ltd. and another Rs. 1.000 Million for securing other loans and obligations
against the Company. All the charges
constitute a single charge. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
As detailed in
the Schedules of Memorandum of Entry dated 23/12/2011, attached herewith. |
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.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
13 |
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.