|
Report Date : |
07.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
MARVEL DWELLINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
301-302, Jewel Tower, S. No. 25/H, Lane No. 5, Koregoan Park, Pune –
411001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.08.2011 |
|
|
|
|
Com. Reg. No.: |
11-140613 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45209PN2011PTC140613 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEM16920B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Real Estate Service and Undertake Building Construction (9 Project in
Pune). |
|
|
|
|
No. of Employees
: |
700 Approximately (In Group) |
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 : |
Recently started business activity |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated in 2011, its has recently
commence its business activity in 2013. Mr. Harish Solanke from finance department has provide us the general
information and denied to disclose any financial detail. However, business is active. Payments are reported to be unknown. The company can be considered for business dealing 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.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (GENERAL INFORMATION)
|
Name : |
Mr. Harish Solanke |
|
Designation : |
Finance Department |
|
Contact No.: |
91-9923592261 |
|
Date : |
06.08.2013 |
LOCATIONS
|
Registered Office : |
301-302, Jewel Tower, S. No. 25/H, Lane No. 5, Koregoan Park, Pune –
411001, Maharashtra |
|
Tel. No.: |
91-20-30250700/26052920/21 |
|
Mobile No.: |
91-9923592261 (Mr. Harish Solanke) |
|
Fax No.: |
91-20-66201389 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Vishwajeet Subhash Jhavar |
|
Designation : |
Director |
|
Address : |
A 10, Flat No. 1, Meera Nagar, Koregoan Park, Pune – 411001,
Maharashtra, India |
|
Date of Birth/Age : |
03.05.1969 |
|
Date of Appointment : |
30.08.2011 |
|
DIN No.: |
00158203 |
|
|
|
|
Name : |
Mr. Prithviraj Solanke |
|
Designation : |
Director |
|
Address : |
C/13, Clover Garden, 4 Naylor Road, Pune - 411001, Maharashtra, India |
|
Date of Birth/Age : |
13.04.1979 |
|
Date of Appointment : |
30.08.2011 |
|
DIN No.: |
01880078 |
KEY EXECUTIVES
|
Name : |
Mr. Harish Solanke |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
As on As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vishwajeet Subhash Jhavar |
|
5000 |
|
Marvel Promoters and Developers (Pune) Private Limited, India |
|
5000 |
|
Total |
|
10000 |
Equity Share Break up (Percentage of Total Equity)
As on As on 28.09.2012
|
Category |
Percentage |
|
Bodies corporate |
50.00 |
|
Directors or relatives of Directors |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Real Estate Service and undertake Building Construction (9 Project in
Pune). |
|
|
|
|
Terms : |
|
|
Purchasing : |
Depend |
GENERAL INFORMATION
|
No. of Employees : |
700 Approximately (In Group) |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institutions : |
|
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Birla and Associates Chartered Accountants |
|
Address : |
5th Floor, Arthavishwa Building, 5th Lane,
Koregoan Park, Pune – 411001, Maharashtra, India |
|
Tel. No.: |
91-20-30461582 |
|
PAN No.: |
AETPB1772M |
|
|
|
|
Holding Company : |
Marvel Promoters and Developers (Pune) Private Limited, India Note: The Marvel
Group comprises of 13 companies. |
CAPITAL STRUCTURE
As on As on 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
0.100 |
|
(b) Reserves & Surplus |
|
|
(0.024) |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
0.076 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.005 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term
provisions |
|
|
0.000 |
|
Total Non-current
Liabilities (3) |
|
|
0.005 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
|
69.036 |
|
(b)
Trade payables |
|
|
190.003 |
|
(c)
Other current liabilities |
|
|
110.161 |
|
(d)
Short-term provisions |
|
|
0.000 |
|
Total Current
Liabilities (4) |
|
|
369.200 |
|
|
|
|
|
|
TOTAL |
|
|
369.281 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
|
0.000 |
|
(ii)
Intangible Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
0.000 |
|
(iv) Intangible assets under development |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
0.000 |
|
(c) Deferred tax assets
(net) |
|
|
0.000 |
|
(d) Long-term Loan
and Advances |
|
|
0.000 |
|
(e)
Other Non-current assets |
|
|
0.000 |
|
Total Non-Current
Assets |
|
|
0.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
369.184 |
|
(c)
Trade receivables |
|
|
0.000 |
|
(d)
Cash and cash equivalents |
|
|
0.097 |
|
(e)
Short-term loans and advances |
|
|
0.000 |
|
(f)
Other current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
369.281 |
|
|
|
|
|
|
TOTAL |
|
|
369.281 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL EXPEDITURE |
|
|
0.019 |
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS) BEFORE FINANCE COST AND TAX |
|
|
(0.019) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX |
|
|
(0.019) |
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.005 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX |
|
|
(0.024) |
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (Rs.) |
|
|
2.38 |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
PAT / Total Income |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
908.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
0.00 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr.
No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
one years |
Yes |
|
12] |
Profitability for last
one 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 |
Yes |
|
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 |
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 |
UNSECURED LOANS:
(Rs in Millions)
|
PARTICULARS |
31.03.2012
|
|
SHORT TERM BORROWINGS |
|
|
Loans repayable
on demand |
|
|
Loan from directors |
30.577 |
|
Marvel Promoters and Developers (Pune) Private Limited, India |
38.459 |
|
Total |
69.036 |
NOTE:
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGE:
|
Sr .No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10428834 |
04/04/2013 |
680,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
Asian Bldg., Ground Floor, 17,
R.Kamani Marg, Ba llard Estate, MUMBAI, Maharashtra - 400001, INDIA |
B75460659 |
|
2 |
10426650 |
04/04/2013 |
130,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
Asian Bldg., Ground Floor, 17,
R.Kamani Marg, Ba llard Estate, MUMBAI, Maharashtra - 400001, INDIA |
B75461772 |
|
3 |
10426649 |
04/04/2013 |
190,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
Asian Bldg., Ground Floor, 17,
R.Kamani Marg, Ba llard Estate, MUMBAI, Maharashtra - 400001, INDIA |
B75461194 |
|
4 |
10408593 |
05/03/2013 |
550,000,000.00 |
PHL Finance Private Limited |
1ST FLOOR, PIRAMAL TOWER
ANNEXE, GANPATRAO KADAM |
B69812295 |
|
5 |
10413255 |
27/02/2013 |
75,000,000.00 |
IDBI TRUSTEESHIP SERVICES
LIMITED |
Asian Bldg., Ground Floor, 17,
R.Kamani Marg, Ba llard Estate, MUMBAI, Maharashtra - 400001, INDIA |
B70732813 |
|
6 |
10410582 |
05/12/2012 |
95,000,000.00 |
WINDSHIELD DEVELOPERS PRIVATE
LIMITED |
157, Maker Chambers III,
Nariman Point,, Mumbai, Maharashtra - 400021, INDIA |
B65800807 |
OPERATION AND FUTURE PROSPECTS:
Directors wish to update the members that this
was the first financial year of the company, and the company is in process of
setting up and executing various projects. As per the accounting policy adopted
by the company, the revenue is recognized as per the percentage of project
completion method and according the company will be recognizing the revenue in
the coming years, upon significant completion of the projects. In line with the
concerned accounting policy the amount incurred on account of project expenditure
has been capitalized and has been credited to project expenditure account.
The company has reported loss for the
financial year. However, the directors of the company are hopeful that it would
be compensated in the forthcoming years.
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. 61.53 |
|
|
1 |
Rs. 94.37 |
|
Euro |
1 |
Rs. 81.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
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 |
|
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.