MIRA
INFORM REPORT
|
Report Date : |
24.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
MARVEL PROMOTERS AND DEVELOPERS (PUNE) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A 10, Flat No.
1, Meera Nagar, Koregaon Park, Pune – 411001, Maharashtra |
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|
Country : |
India |
|
|
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|
Financials (as
on) : |
31.03.2012 |
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|
Date of
Incorporation : |
11.07.2007 |
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|
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Com. Reg. No.: |
11-130439 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.101
Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U45200PN2007PTC130439 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEM12267D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Builders and Property Developers. |
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|
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
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 |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a part of ‘Marvel Group’. It is an established company having a moderate track record. The
company is in the process of completing various projects. There appear huge external borrowings recorded by the company. The
company has achieved better growth in total income during 2012. It has
incurred loss during the year. However, trade relations are reported to be
fair. Business is active. Payments are slow.
The company can be considered for business dealings on a safe and
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.
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. Bhushan Bharamke |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-20-66878800 |
|
Date : |
23.04.2013 |
LOCATIONS
|
Registered Office : |
A 10, Flat No.
1, Meera Nagar, Koregaon Park, Pune – 411001, Maharashtra, India |
|
Tel. No.: |
91-20-66878800 |
|
Mobile No.: |
91-9326565695 (Mr. Bhushan Bharamke) |
|
Fax No.: |
91-20-66201389 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Corporate Office : |
301-302 Jewel Tower, Lane No. 5, Koregaon Park, Pune – 411001,
Maharashtra, India |
|
Tel. No.: |
91-20-66878700/ 66878800/ 32900573/ 26052920/ 21 |
|
Fax No.: |
91-20-66201389 |
|
E-Mail : |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Vinay Mahavirprasad Chudiwal |
|
Designation : |
Director |
|
Address : |
Flat No. A-204, Sujay Garden, Mukund Nagar, Pune – 411037,
Maharashtra, India |
|
Date of Birth/Age : |
03.03.1971 |
|
Date of Appointment : |
11.07.2007 |
|
DIN No.: |
00158193 |
|
|
|
|
Name : |
Mr. Vishwajeet Subhash Jhavar |
|
Designation : |
Director |
|
Address : |
A 10, Flat No.
1, Meera Nagar, Koregaon Park, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
03.05.1969 |
|
Date of Appointment : |
11.07.2007 |
|
DIN No.: |
00158203 |
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|
|
|
Name : |
Mr. Mahesh Bansilal Laddha |
|
Designation : |
Director |
|
Address : |
Flat No. 1, Novelty Co-operative Housing Society, Behind Maruti Care
Point, Near Chatursinghi Temple, Pune – 411016, Maharashtra, India |
|
Date of Birth/Age : |
10.08.1965 |
|
Date of Appointment : |
12.07.2007 |
|
DIN No.: |
00158212 |
|
|
|
|
Name : |
Mr. Prithviraj Solanke |
|
Designation : |
Director |
|
Address : |
C/3, Clover Garden, 4 Naylor Road, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
13.09.1979 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
01880078 |
|
|
|
|
Name : |
Mr. Ankush Kamul Seth |
|
Designation : |
Additional director |
|
Address : |
Flat No. 401, P. No. 35, Marvel Creasent SN 221, ABCD Kalyani Nagar,
Pune – 411014, Maharashtra, India |
|
Date of Birth/Age : |
09.12.1970 |
|
Date of Appointment : |
29.08.2011 |
|
DIN No.: |
03596761 |
KEY EXECUTIVES
|
Name : |
Mr. Bhushan Bharamke |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Equity Shareholders |
|
No. of Shares |
|
Vishwajeet Subhash Jhavar |
|
6100 |
|
Vinay Mahavirprasad Chudiwal |
|
1500 |
|
Veena Vishwajeet Jhavar |
|
400 |
|
Mahesh Bansilal Laddha |
|
1500 |
|
Prithviraj Solanke |
|
500 |
|
Hiranand Dayaram |
|
87 |
|
Purshottamdas Sharma |
|
25 |
|
Manohar Wadhumal Lahori |
|
25 |
|
|
|
|
|
Total |
|
10137 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Gagan Landmarks Private Limited, India |
|
5 |
|
Rahul Sureshchandra Garg |
|
5 |
|
|
|
|
|
Total |
|
10 |
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] |
|
1.35 |
|
Bodies
corporate |
|
0.05 |
|
Directors
or relatives of directors |
|
98.60 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Builders and Property Developers. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
Ř State Bank of
India, Commercial Branch, 1548/A, Sadashiv Peth, Tilak Road, Pune - 411030,
Maharashtra, India Ř ICICI Bank
Limited Ř HDFC Bank
Limited |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Financial Institution : |
Ř India Infoline
Housing Finance Limited Ř Tata Capital
Limited Ř Reliance Capital
Limited, “H” Block, 1st Floor, Dhirubhai Ambani Knowledge City,
Koparkhairne, Navi Mumbai – 400710, Maharashtra, India |
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|
|
|
Auditors : |
|
|
Name : |
BBSR and Company Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castlemaine, Next to Ruby Hall Clinic, Bund
Garden Road, Pune – 411001, Maharashtra, India |
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Tel. No.: |
91-20-30504000 |
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Fax No.: |
91-20-30504100 |
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Income-tax
PAN of auditor or auditor's firm : |
AAKFB4397F |
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Subsidiaries : |
Ř Marvel Omega
Builders Private Limited [U45200PN2010PTC136620] Ř Marvel Sigma
Homes Private Limited [U45200PN2010PTC136619] |
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|
|
|
Enterprises over which principal shareholders / director exercises
significant influence : |
Ř Marvel Realtors
and Developers Limited Ř Marvel Landmarks
Private Limited Ř Marvel Zeta
Developers Private Limited Ř Marvel Dwellings
Private Limited Ř Kappa Infra
Ventures Private Limited Ř Midas Shelters
Private Limited Ř Marvel
Skyscrapers Private Limited Ř Marvel Ultra
Realtors and Developers (Pune) Private Limited Ř Gamma
Infraprojects LLP Ř Samyak
Gruhnirman Private Limited |
|
|
|
|
Limited Liability Partnership Firms : |
Ř Gamma Buildcon LLP Ř EOS Homes LLP Ř Aineo Homes LLP Ř Cela Homes LLP Ř PAX Homes LLP Ř Marvel Shah Associates Ř Kappa Buildcon LLP Ř Kappa Realtors LLP Ř Kappa Homes LLP Ř Juno Homes LLP |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.900 Million |
|
10,000 |
Preference Shares |
Rs. 10/- each |
Rs. 0.100 Million |
|
|
Total |
|
Rs. 1.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,137 |
Equity Shares |
Rs. 10/- each |
Rs. 0.101
Million |
|
10 |
Preference Shares |
Rs. 10/- each |
Rs. 0.000
Million |
|
|
Total |
|
Rs. 0.101 Million |
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 |
0.101 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
11.460 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(137.180) |
(33.686) |
|
|
NETWORTH |
11.561 |
(137.080) |
(33.586) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
391.090 |
131.877 |
0.000 |
|
|
2] Unsecured Loans |
310.788 |
614.630 |
200.563 |
|
|
TOTAL BORROWING |
701.878 |
746.507 |
200.563 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
713.439 |
609.427 |
166.977 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
43.402 |
13.519 |
0.210 |
|
|
Capital work-in-progress |
12.929 |
0.000 |
0.158 |
|
|
|
|
|
|
|
|
INVESTMENT |
210.275 |
213.285 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.260 |
0.128 |
0.011 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1066.190
|
697.942
|
82.010 |
|
|
Sundry Debtors |
57.937
|
0.000
|
0.000 |
|
|
Cash & Bank Balances |
5.056
|
2.630
|
0.256 |
|
|
Other Current Assets |
71.882
|
0.995
|
0.000 |
|
|
Loans & Advances |
599.443
|
469.462
|
217.910 |
|
Total
Current Assets |
1800.508
|
1171.029
|
300.176 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
334.888
|
146.215
|
20.665 |
|
|
Other Current Liabilities |
842.272
|
642.319
|
112.913 |
|
|
Provisions |
176.775
|
0.000
|
0.000 |
|
Total
Current Liabilities |
1353.935
|
788.534
|
133.578 |
|
|
Net Current Assets |
446.573
|
382.495
|
166.598 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
713.439 |
609.427 |
166.977 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
709.026 |
11.585 |
0.057 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
717.952 |
61.669 |
9.179 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(8.926) |
(50.084) |
(9.122) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.212 |
51.574 |
20.739 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(21.138) |
(101.658) |
(29.861) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.351 |
1.954 |
0.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(26.489) |
(103.612) |
(29.866) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.131) |
(0.117) |
(0.012) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(26.358) |
(103.495) |
(29.854) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(137.180) |
(33.685) |
(3.831) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(163.538) |
(137.180) |
(33.685) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Material/ Components used in construction |
3.746 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(2621) |
(10349) |
(2982) |
|
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KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(3.72)
|
(893.35)
|
(52375.44)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.44)
|
(8.75)
|
(9.94)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
2.29
|
0.76
|
0.89
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
60.71
|
(5.45)
|
(5.97)
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33
|
1.49
|
2.25 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Trade payable |
(Rs. In Millions) |
||
|
For Dues to Micro and Small Suppliers |
334.888
|
146.215
|
20.665 |
|
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 |
-- |
|
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) |
|
|
18% Non Convertible Debenture |
15.000 |
15.000 |
|
Loan from Director |
115.045 |
458.388 |
|
Loan from associates and subsidiary |
78.068 |
69.070 |
|
Loan from others |
60.480 |
19.998 |
|
Interest accrued and Due on above loans from directors/ associates/
subsidiaries |
42.195 |
52.174 |
|
Total |
310.788 |
614.630 |
BACKGROUND
Subject was incorporated on 11 July 2007 under the Companies Act, 1956. The
Company is developing approximately 2 million square feet of residential space
at Pune, Bangalore and Goa.
OPERATIONS
AND FUTURE PROSPECTS:
The
Company is in the process of completing various projects shortly, and has
reported tremendous growth in all its endeavors. During the financial year; as
per the accounting policy adopted by the Company the revenue is recognized as
per the percentage of completion method and will be recognizing the revenue in
coming years upon the significant completion of the project. Due to this
accounting policy the company has incurred losses for the financial year. The
board of Directors of the Company is confident that it would be compensated in
the forth coming years by earning reasonable profits after the completion of its
project(s).
During the
period, the company has subscribed the equity shares and debentures of Marvel
Omega Builders Private limited and as on the end of financial year 2011-12 the Company holds 51% equity shares of Marvel
Omega Builders Private Limited, and accordingly, by virtue of Section
4(l)(b)(i) of the Companies Act, 1956 is the holding Company of Marvel Omega
Builders Private Limited. Also last year's Subscription of 66.94% Equity
holding of the company in Marvel Sigma Homes Private Limited falls within the
purview of Section 4(l)(b)(i) of the Companies Act, 1956.
In due
compliance of the provisions of Section 212 of the Companies Act, 1956, the
financial statements of Marvel Sigma Homes Private Limited and Marvel Omega
Builders Private Limited which are the subsidiary Companies of their Company
are also attached herewith for the perusal of the Members.
During the
year the Company has promoted the following Companies acting through its
Representatives:
1.
Midas Shelters Private Limited
2.
Marvel Skyscrapers Private Limited
3.
Marvel Dwellings Private Limited
4.
Marvel Ultra Realtors and Developers (Pune) Private Limited
Further
during the year the Company has also entered into following partnerships
1.
EOS Homes LLP
2.
PAX Homes LLP
3.
Gamma Infraprojects LLP
4.
Aineo Homes LLP
5.
Marvel Precast Structures India LLP
6.
Juno Homes LLP
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U45200PN2007PTC130439 |
|
Name of the
company |
MARVEL PROMOTERS
AND DEVELOPERS (PUNE) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A 10, Flat No.
1, Meera Nagar, Koregaon Park, Pune – 411001, Maharashtra, India Email: office@chandakcs.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property Any interest in immovable property Book debts Others [Hypothecation of project receivables] |
|
Particular of
charge holder |
Reliance Capital Limited, “H” Block, 1st Floor, Dhirubhai
Ambani Knowledge City, Koparkhairne, Navi Mumbai – 400710, Maharashtra, India Email: Compsec.RCL@rcap.co.in
CIN No.: L65910MH1986PLC165645 |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
hypothecation dated 25th January 2013 |
|
Date of
instrument Creating the charge |
25.01.2013 |
|
Amount secured by
the charge |
Rs. 244.800
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 17% per annum for
a tenure of 12 months. Terms of Repayment Bullet repayment
of Rs. 88.800 Millions on or before 31st march 2013 with a monthly interest
payment till bullet repayment. Balance of
Rs.156.000 Millions for 12 months with an EMI of Rs. 14.232 Millions. Margin Security cover of
at least 1.5 times the exposure to Marvel Promoters & Developers (Pune)
Private Limited along with Marvel Realtors (Partnership Firm). In case of
shortfall the borrower will provide additional security to the satisfaction
of Reliance Capital Limited. Extent and Operation of the charge First and
exclusive charge, all charges constitutes single charge. Others Processing Fees:
1.50 % + ST Escrow Mechanism All the other
terms and conditions as per the deed of hypothecation dated 25.01.2013. |
|
Short particulars
of the property charged |
All the project
present and future receivables specific to projects named as "marvel
azure" on land bearing S. No. 179/1b at Hadapsar, Tal Haveli District
Pune present and future project receivables of project aeris on land bearing
final Plot No. 86/10 Erandwana, Pune. Extension of
charge on land and receivables of Project Marvel Brisa mortgaged in favor of
Reliance Capital Limited vide Charge Id 10382900 mortgage of land and
receivables of Project Marvel Diva II and mortgage of flat at Project Marvel
Diva I Extension of
charge on units at Project Marvel Aliana mortgaged in favor of Reliance
Capital Limited vides Charge ID 10382898. |
FIXED ASSETS:
Ř Citrine Sample
Flat
Ř Plant and
Machinery
Ř Office Equipment
Ř Furniture and
Fixture
Ř Computer and
Software
Ř Vehicles
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. 54.30 |
|
|
1 |
Rs. 82.88 |
|
Euro |
1 |
Rs. 70.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
18 |
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.