|
Report Date : |
21.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
OMKAR REALTORS AND DEVELOPERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Omkar House, Off Eastern |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
02.12.2005 |
|
|
|
|
Com. Reg. No.: |
11-157754 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 95.615 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70100MH2005PTC157754 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO7919F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Real Estate Developers. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 3940000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There appears
continuous dip in the profitability of the company. The company has also
recorded huge external borrowings. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
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 India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood opportunities
for the millions living in poverty as also the large contingent of young people
joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities : “BBB-” |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
06.03.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities : “A3” |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
06.03.2013 |
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
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-66254100)
LOCATIONS
|
Registered Office : |
Omkar House, Off Eastern |
|
Tel. No.: |
91-22-66254100 / 300 / 24035891 / 24097769 |
|
Fax No.: |
91-22-24034066 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Kamal Kishore Gokalchand Gupta |
|
Designation : |
Chairman |
|
Address : |
Plot No. 4, Vikas Bunglow, Behind Bahri Petrol Pump, S.T. Road,
Chembur, Mumbai-400071, Maharashtra, India |
|
Date of Birth/Age : |
27.10.1958 |
|
Date of Appointment : |
02.12.2005 |
|
DIN No.: |
01189806 |
|
|
|
|
Name : |
Mr. Babulal Mulchand Varma |
|
Designation : |
Managing Director |
|
Address : |
A-1405, Raheja Sherwood, Nirlon Compound, Goregaon (East),
Mumbai-400063, |
|
Date of Birth/Age : |
06.04.1970 |
|
Qualification : |
B.Com |
|
Experience : |
21 Years |
|
Date of Appointment : |
01.06.2010 |
|
DIN No.: |
01189646 |
|
|
|
|
Name : |
Mr. Gaurav Vishnukumar Gupta |
|
Designation : |
Whole Time Director |
|
Address : |
15/93, Ahoora Mahal, 4th Floor, |
|
Date of Birth/Age : |
22.05.1982 |
|
Qualification : |
MBA |
|
Experience : |
7 Years |
|
Date of Appointment : |
02.12.2005 |
|
DIN No.: |
01189690 |
|
|
|
|
Name : |
Mr. Rajendra Mulchand Varma |
|
Designation : |
Whole Time Director |
|
Address : |
A-1406, Raheja Sherwood, Nirlon Compound, Goregaon (East),
Mumbai-400063, |
|
Date of Birth/Age : |
12.04.1975 |
|
Experience : |
01189614 |
|
Date of Appointment : |
02.12.2005 |
|
DIN No.: |
01189614 |
|
|
|
|
Name : |
Mr. Kaushik Narayan More |
|
Designation : |
Executive Director |
|
Address : |
1/Ulhas, 142, Dr. A.B. raut Road, Shivaji Park, Dadar-West,
Mumbai-400028, Maharashtra, Mumbai, India |
|
Date of Birth/Age : |
03.11.1953 |
|
Date of Appointment : |
16.01.2006 |
|
DIN No.: |
01189830 |
|
|
|
|
Name : |
Mr. Vikas Kamalkishore Gupta |
|
Designation : |
Whole Time Director |
|
Address : |
Plot No. 4, Vikas Bunglow, Behind Bahri Petrol Pump, S.T. Road,
Chembur, Mumbai-400071, Maharashtra, India |
|
Date of Birth/Age : |
14.11.1981 |
|
Qualification : |
B.com |
|
Experience : |
7 Years |
|
Date of Appointment : |
30.06.2010 |
|
DIN No.: |
02289641 |
|
|
|
|
Name : |
Mr. Tarachand Mulchand Varma |
|
Designation : |
Whole Time Director |
|
Address : |
A-1306, Raheja Sherwood, Nirlon Compound, Goregaon (East),
Mumbai-400063, |
|
Date of Birth/Age : |
26.11.1976 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
01790874 |
KEY EXECUTIVES
|
Name : |
Mr. Viraj Narendrabhai Panchal |
|
Designation : |
Secretary |
|
Address : |
A-3/203, |
|
Date of Birth/Age : |
27.07.1970 |
|
Date of Appointment : |
01.01.2009 |
|
Pan No : |
AADPP1532B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
As on 29.09.2012
Equity Share Break up
(Percentage of Total Equity)
|
Category |
Percentage of
Holding |
|
Bodies corporate |
1.05 |
|
Directors or relatives of Directors |
89.06 |
|
Other top fifty shareholders |
9.89 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Real Estate Developers. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Allahbad Bank, Kiran Industrial Estate, · Bank of Bahrain and Kuwait B.S.C, Jolly Maker Chambers II, 225, Nariman point, Mumbai-400021, Maharashtra, India · ICICI Bank Limited, ICICI Bank Towers, South Tower, 7th Floor, bandra kurla Complex, Mumbai-400051, Maharashtra, India · Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besent Road, Worli, Mumbai-400018, Maharashtra, India · Indian Overseas Bank, 2/10, Elphistone Building, Veer Nariman Road, Fort, Mumbai-400023, Maharashtra, India · Punjab National Bank Limited, Bandra Linking Road, Bandra, Mumbai-400050, Maharashtra, India · Canara Bank, A.R. Street Branch, Himalaya House, Mumbai – 400001, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Finance Institution : |
·
Future Capital Holdings Limited, 15th
Floor, Tower-2, Indiabulls Finance Centre, Senapati Bapat Marg, Elphistone,
Mumbai-400013, · IL and FS Trust Company Limited, IL and FS Financial Centre, Plot No. C22, G Block Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India · L and T Realty Limited, Land t house, Ballard estate, Mumbai-400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
N.K.J. and Company Chartered Accountants |
|
Address : |
A-402, Rajeshri Accord, Teli Gali Cross Road, Andheri (East),
Mumbai-400069, Maharashtra, India |
|
Tel. No.: |
91-22-26827879 / 26827969 |
|
E-Mail : |
|
|
PAN No.: |
AABFN5388D |
|
|
|
|
Wholly Owned Subsidiaries : |
·
Anatomy Realtors Private Limited, CIN No.: U70200MH2008PTC181154 · Appeal Realtors Private Limited, India CIN No.: U45200MH2008PTC183814 · Haldhar Developers Private Limited, India · High Rise Facility Private Limited Solutions · Icon Spaces Private Limited, India · Impeccable Realtors Private Limited, India · Jallo Subsidiary Industries Company (India) Private Limited, India · Meticulous Realtors Private Limited, India · Omkar Energy Private Limited, India · Omkar Realtors and Developers (Bhoiwada) Private Limited, India · Omkar Realtors and Developers (Mahakali ) Private Limited, India · Omkar Spaces Private Limited, India · Rock Spaces Private Limited, India · Shri SiddhiVinayak Enterprises · Task Realtors Private Limited, India · Vedarambh Properties Private Limited, India · Velocity Realtors Private Limited, India · VGS Construction · Yardstick Properties Private Limited, India · Other Subsidiaries · Darshan Realtors Private Limited, India(Holding 50%) CIN No.: U70109MH2009PTC197063 · Era Realtors Private Limited, India (Holding 99.99%) CIN No.: U45200MH2008PTC181897 · Foremost Realtors Private Limited, India (Holding 65%) · Omkar Natural Resources Private Limited (Holding 51%) · Omnitech Oilfield Services Private Limited, India (Step down subsidiary. Holding 51%) · Raviraj Design Studio Private Limited, India (Holding 51%) |
|
|
|
|
Associates Concern / Joint Ventures : |
· Accord Builders · Omkar Realtors and Developers (Ambedkar Nagar) |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs. 10/-each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9561500 |
Equity Shares |
Rs. 10/-each |
Rs. 95.615 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
95.615 |
91.615 |
|
(b) Reserves & Surplus |
|
889.410 |
761.232 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
1630.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
985.025 |
2482.847 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
14802.548 |
4722.865 |
|
(b) Deferred tax liabilities (Net) |
|
18.139 |
11.301 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
4.251 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
14824.938 |
4734.166 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
455.565 |
414.311 |
|
(c) Other
current liabilities |
|
5590.994 |
3499.878 |
|
(d) Short-term
provisions |
|
1.469 |
24.935 |
|
Total Current
Liabilities (4) |
|
6048.028 |
3939.124 |
|
|
|
|
|
|
TOTAL |
|
21857.991 |
11156.137 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
317.107 |
309.899 |
|
(ii)
Intangible Assets |
|
7.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
26.318 |
26.317 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1199.751 |
58.781 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
7130.030 |
2803.264 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
8680.206 |
3198.261 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
10328.798 |
6160.679 |
|
(c) Trade
receivables |
|
1022.652 |
500.192 |
|
(d) Cash
and cash equivalents |
|
567.645 |
595.124 |
|
(e)
Short-term loans and advances |
|
860.946 |
305.510 |
|
(f) Other
current assets |
|
397.744 |
396.371 |
|
Total
Current Assets |
|
13177.785 |
7957.876 |
|
|
|
|
|
|
TOTAL |
|
21857.991 |
11156.137 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
54.970 |
|
|
2] Share Application Money |
|
|
1630.000 |
|
|
3] Reserves & Surplus |
|
|
687.708 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2372.678 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
158.380 |
|
|
2] Unsecured Loans |
|
|
794.067 |
|
|
TOTAL BORROWING |
|
|
952.447 |
|
|
DEFERRED TAX LIABILITIES |
|
|
7.124 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3332.249 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
227.819 |
|
|
Capital work-in-progress |
|
|
23.843 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
175.556 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2548.020 |
|
|
Sundry Debtors |
|
|
322.624 |
|
|
Cash & Bank Balances |
|
|
333.140 |
|
|
Other Current Assets |
|
|
356.336 |
|
|
Loans & Advances |
|
|
2415.102 |
|
Total
Current Assets |
|
|
5975.222 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
158.906 |
|
|
Other Current Liabilities |
|
|
2859.863 |
|
|
Provisions |
|
|
51.422 |
|
Total
Current Liabilities |
|
|
3070.191 |
|
|
Net Current Assets |
|
|
2905.031 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3332.249 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5525.117 |
2310.055 |
1555.960 |
|
|
|
Other Income |
26.448 |
20.372 |
21.529 |
|
|
|
TOTAL (A) |
5551.565 |
2330.427 |
1577.489 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
4943.610 |
1745.155 |
1123.198 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
607.955 |
585.272 |
454.291 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
451.356 |
395.455 |
79.779 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
156.599 |
189.817 |
374.512 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.355 |
11.011 |
5.090 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
139.244 |
178.806 |
369.422 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
47.066 |
56.502 |
41.243 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
92.178 |
122.304 |
328.179 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
717.717 |
629.208 |
347.392 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.000 |
18.323 |
10.994 |
|
|
|
Tax on Dividend |
0.000 |
2.972 |
1.868 |
|
|
|
Transfer to General Reserve |
0.000 |
12.500 |
33.500 |
|
|
BALANCE CARRIED
TO THE B/S |
809.895 |
717.717 |
629.208 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.64 |
12.93 |
35.82 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.66
|
5.25 |
20.80 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.52
|
7.74 |
23.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.67
|
1.62 |
5.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.07 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
15.03
|
1.90 |
0.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.18
|
2.02 |
1.95 |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
NOTE
The Registered Office of the company has been shifted from Omkar
Esquare, Off eastern Express highway, Opposite Sion Chunnabhatti Signal, Sion
(East), Mumbai-400022,
UNSECURED LOANS
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Intercorporate Deposits |
247.775 |
82.166 |
|
Rupee Term Loan From Banks |
0.000 |
0.361 |
|
Deposits from Others |
459.590 |
452.619 |
|
Other Loans and
Advance |
988.700 |
0.000 |
|
Total |
1696.065 |
535.146 |
PERFORMANCE REVIEW
The real potential
of the Company. The decisions and initiatives taken in the last couple of years
combined with the consolidated efforts of the management resulted into a
remarkable performance of the Company in the area of operations. Acquisition
and consolidation made during the year would leverage the Company on top of the
table in its core sector of slum redevelopment in next four to five years. The
Company is well recognized by the industry, corporates and customers and has
left an imprint on the minds of one and all. The projects of the Company are
widely spread over almost entire city of
PROJECTS
L and T the leading construction and Infrastructure Company reposed the confidence in the Company and have joined hands with your Company for redevelopment of Bhoiwada Main project at Parel, Mumbai which is one of the largest in the Vicinity.
During the year, the Company has transferred its development rights of Omkar Alta Monte' project at Malad, to Special Purpose Vehicle (SPV), a subsidiary of the Company. Again one of the leading private equity players has reposed the confidence in the Company and has joined hands with agreed investment of over Rs. 250 crores in SPV under Foreign Direct Investment policy.
With the new acquisitions, clearances, together with the lending by Yes Bank Limited a leading private sector bank, joining hands by INDJAREIT another leading private equity players and investment in the form of debt by Piramal group, one of the prestigious projects of the Company at Worli made much needed progress and is now on the path of its timelines.
BANKERS CHARGES
REPORT AS PER REGISTRY :
|
Corporate
identity number of the company |
U70100MH2005PTC157754 |
|
Name of the
company |
OMKAR REALTORS
AND DEVELOPERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Omkar House, Off Email: viraj.panchal@omkar.com
|
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
10403391 |
|
Type of charge |
· Immovable property · Any interest in immovable property · Book debts · Others (Recievables, Escrow Accounts, Corporate guarantee) |
|
Particular of
charge holder |
IL and FS Trust Company Limited, IL and FS
Financial Centre, Plot No. C22, G Block Bandra Kurla Complex, Bandra (East),
Mumbai-400051, Email : dipti.jain@ilfsindia.com |
|
Nature of
instrument creating charge |
No Objection Letter/Certificate dated 26/03/2013. |
|
Date of
instrument Creating the charge |
26.03.2013 |
|
Amount secured by
the charge |
1000.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Margin: NIL Others : The Charge is created in favour of charge holder in order to secure issue of 10,000 Non-Convertible Debentures having face value of Rs. 0.100 Millions each aggregating to Rs. 1000.000 Millions on private placement basis by Darshan Realtors Private Limited |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
As per Schedule 1 of the Debenture Trust Deed dated January 18, 2013. |
|
Particulars of
the present modification |
On escrow accounts shall now rank pari passu with ICICI Bank Limited.
for rupee term loan facility of Rs. 2000.000 Millions extended by them to the
Company. Other terms and conditions shall remain unchanged. |
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. 63.73 |
|
|
1 |
Rs. 99.79 |
|
Euro |
1 |
Rs. 85.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYN |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
33 |
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.