MIRA
INFORM REPORT
|
Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
JUNIPER HOTELS PRIVATE LIMITED (July 2004) |
|
|
|
|
Formerly Known
As : |
SEAJULI PROPERTY AND VINIYOG PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Off Western Express Highway, Santacruz (East), Mumbai – 400055,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.09.1985 |
|
|
|
|
Com. Reg. No.: |
11-152863 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1437.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U55101MH1985PTC152863 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS6336E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Hotel Services. |
|
|
|
|
No. of Employees
: |
125 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 15000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
There appears slight dip in its sales due to global economic Crisil. However, general financial strength seems to be strong. The company is
planning to start its project in Ahmedabad and New Delhi. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealings at usual 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BB (Long Term Bank Facilities) |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation. |
|
Date |
October 2012 to March 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 PARTED BY
|
Name : |
Mr. Don Crasto |
|
Designation : |
Vice President in Accounting and Finance |
|
Contact No.: |
91-22-66761012 |
|
Date : |
12.06.2013 |
LOCATIONS
|
Registered Office : |
Off Western Express Highway, Santacruz (East), Mumbai – 400055,
Maharashtra, India |
|
Tel. No.: |
91-22-66761234/ 66761000 |
|
Fax No.: |
91-22-66761235/ 66761010 |
|
E-Mail : |
|
|
|
|
|
Head Office : |
Vakola Pipeline, Santacruz (East), Mumbai – 400055, Maharashtra, India |
|
Tel. No.: |
91-22-26195202 |
|
|
|
|
Corporate/ Branch Office : |
Dial Hospitality District, Hotel Hyatt, |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Radhe Shyam Saraf |
|
Designation : |
Director |
|
Address : |
D 20 F, Caine Mansion, 80-88, Caine Road, Mid-Levels, Hong Kong |
|
Date of Birth/Age : |
15.08.1930 |
|
Date of Appointment : |
14.01.2001 |
|
DIN No.: |
00017962 |
|
|
|
|
Name : |
Mr. Arun Kumar Saraf |
|
Designation : |
Managing Director |
|
Address : |
Grand Hyatt Residences, Off Western Express Highway , Santacruz
(East), Mumbai – 400055, Maharashtra, India |
|
Date of Birth/Age : |
10.03.1959 |
|
Date of Appointment : |
01.07.1998 |
|
PAN No.: |
ACTPS6880M |
|
DIN No.: |
00339772 |
|
|
|
|
Name : |
Mr. Umesh Saraf |
|
Designation : |
Director |
|
Address : |
W-120, Greater Kailash, New Delhi – 110048, India |
|
Date of Birth/Age : |
27.12.1963 |
|
Date of Appointment : |
14.06.2004 |
|
PAN No.: |
ABHBS6562P |
|
DIN No.: |
00017985 |
|
|
|
|
Name : |
Ms. Pallavi Shroff |
|
Designation : |
Director |
|
Address : |
S-270, Greater Kailash Part – II, New Delhi – 110048, India |
|
Date of Birth/Age : |
22.04.1956 |
|
Date of Appointment : |
13.06.2001 |
|
PAN No.: |
AQPPS7388Q |
|
DIN No.: |
00013580 |
|
|
|
|
Name : |
Mr. Rakesh Kumar Sarna |
|
Designation : |
Nominee Director |
|
Address : |
737, Washington Building, Unit 1204, Illinois 2185, Chicago – 60661 |
|
Date of Birth/Age : |
29.03.1957 |
|
Date of Appointment : |
12.09.2007 |
|
DIN No.: |
01875340 |
|
|
|
|
Name : |
Mr. Ganga Ram Niacanta Iyer |
|
Designation : |
Director |
|
Address : |
703, Golden Castle Sundarnagar Road No. 2, Kalina, Mumbai - 400098,
Maharashtra, India |
|
Date of Birth/Age : |
22.09.1934 |
|
Date of Appointment : |
13.06.2001 |
|
PAN No.: |
AABPG0807E |
|
DIN No.: |
00001246 |
|
|
|
|
Name : |
Mr. Charles Lemont Ephraim |
|
Designation : |
Director |
|
Address : |
2130, Sheridan Road, Highland Park, USA – 60035 |
|
Date of Birth/Age : |
03.06.1952 |
|
Date of Appointment : |
12.09.2007 |
|
DIN No.: |
01875357 |
|
|
|
|
Name : |
Mr. Peter Fulton |
|
Designation : |
Director |
|
Address : |
A, Hamid Amhed Qasim Seddiqi, (Villa – 10) 352-30C, Umsaqaim Area
DM.157, Post Box 7978, Dubai |
|
Date of Birth/Age : |
15.07.1957 |
|
Date of Appointment : |
05.12.2008 |
|
DIN No.: |
02227963 |
|
|
|
|
Name : |
Mr. Narendra Jamnadas Jhaveri |
|
Designation : |
Director |
|
Address : |
C-42, Samprat Residency, Opposite Parivar Society, Bodakdev, Ahmedabad
– 380015, Gujarat, India |
|
Date of Birth/Age : |
09.08.1935 |
|
Date of Appointment : |
13.06.2001 |
|
PAN No.: |
AAAPJ2480M |
|
DIN No.: |
00198912 |
|
|
|
|
Name : |
Mr. Tilakraj Bajalia |
|
Designation : |
Nominee Director |
|
Address : |
World Trade Centre, Cuffee Parade, Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
25.12.1953 |
|
Date of Appointment : |
01.11.2010 |
|
PAN No.: |
ABLPB5232B |
|
DIN No.: |
02291892 |
|
|
|
|
Name: |
Mr. Rakesh Kaul |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Subramanian Naganath Iyer |
|
Designation : |
Secretary |
|
Address : |
A-603, Twin Towers, Aundh, Pune – 411007, Maharashtra, India |
|
Date of Birth/Age : |
19.07.1958 |
|
Date of Appointment : |
25.02.2010 |
|
PAN No.: |
AABPI5956J |
|
|
|
|
Name : |
Mr. Don Crasto |
|
Designation : |
Vice President in Accounting and Finance |
MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Saraf Hotels Limited, |
71850000 |
|
Two Seas Holdings Limited, Mauritius |
71850000 |
|
Total |
143700000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Hotel Services. |
|
|
|
|
Imports : |
|
|
Products : |
Hotel Equipments |
|
Countries : |
·
Italy ·
Germany ·
China ·
US ·
Malaysia ·
Thailand ·
Singapore |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users and Others |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
125 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai - 400021, Maharashtra, India · Punjab National Bank, Large Corporate Branch, A-9, Connaught Place, New Delhi, India · Central Bank of India · ICICI Bank Limited, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India · Standard Chartered Bank, Crescenzo, 3A/F, Plot no. C-38 and 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai - 400051, Maharashtra, India · State Bank of India · Axis Bank Limited, Universal Insurance Building Sir P. M. Road, Fort, Mumbai-400001, Maharashtra, India · Axis Bank Limited, Corporate Banking Branch, Axis House, Bombay Dyeing Mills Compound, PB Marg, Mumbai - 400025, Maharashtra, India · IDBI Bank Limited, IDBI Towerwtc Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India Jammu and Kashmir Bank Limited · Axis Bank Limited, Corporate Banking Branch, Axis Bank, Bombay Dyeing, Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai – 400025, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
'Heritage', 3rd floor, Near Gujrat Vidhyapith, Off Ashram Road, Ahmedabad-380014, Gujarat, India |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Subsidiary company
: |
Mahima Holding Private Limited |
|
|
|
|
Others : |
· Chartered Hotels Private Limited CIN No.: U55101MH1996PTC180473 · Asian Hotels (East) Limited CIN No.: L15122WB2007PLC162762 · Robust Hotels Private Limited CIN No.: U55101TN2007PTC062085 · Robust Hotels Private Limited CIN No.: U55101TN2007PTC062085 · Taragaon Regency Hotels Limited |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
190000000 |
Equity Shares |
Rs.10/- each |
Rs.1900.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
143700000 |
Equity Shares |
Rs.10/- each |
Rs.1437.000
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 |
|
1437.000 |
1437.000 |
|
(b) Reserves & Surplus |
|
2354.515 |
2014.134 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3) Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
4964.477 |
4323.825 |
|
(b) Deferred tax liabilities (Net) |
|
394.482 |
376.287 |
|
(c) Other long term liabilities |
|
276.703 |
255.980 |
|
(d) long-term provisions |
|
46.794 |
34.425 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
107.527 |
124.587 |
|
(b) Trade payables |
|
325.801 |
330.771 |
|
(c) Other current liabilities |
|
991.411 |
1019.533 |
|
(d) Short-term provisions |
|
85.882 |
24.225 |
|
TOTAL |
|
10984.592 |
9940.767 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
6003.483 |
6176.389 |
|
(ii) Intangible Assets |
|
1.302 |
0.982 |
|
(iii) Capital work-in-progress |
|
2783.008 |
1558.851 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
51.720 |
51.720 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1800.350 |
1714.836 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
87.437 |
88.425 |
|
(c) Trade receivables |
|
98.650 |
130.620 |
|
(d) Cash and cash equivalents |
|
92.764 |
128.106 |
|
(e) Short-term loans and advances |
|
65.878 |
90.838 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
TOTAL |
|
10984.592 |
9940.767 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1437.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1692.984 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
3129.984 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
4730.520 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
4730.520 |
|
|
DEFERRED TAX LIABILITIES |
|
|
351.506 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8212.010 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
6342.444 |
|
|
Capital work-in-progress |
|
|
806.002 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
121.720 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
92.934
|
|
|
Sundry Debtors |
|
|
172.281
|
|
|
Cash & Bank Balances |
|
|
64.462
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
1228.579
|
|
Total
Current Assets |
|
|
1558.256
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
253.662
|
|
|
Other Current Liabilities |
|
|
402.588
|
|
|
Provisions |
|
|
34.121
|
|
Total
Current Liabilities |
|
|
690.371
|
|
|
Net Current Assets |
|
|
867.885
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
73.959 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8212.010 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3004.100 |
3040.100 |
2759.400 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
3004.100 |
3040.100 |
2759.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
1696.900 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
1861.700 |
1880.500 |
1696.900 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1142.400 |
1159.600 |
1062.500 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
384.300 |
435.100 |
466.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
758.100 |
724.500 |
595.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
239.500 |
227.500 |
318.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
518.600 |
497.000 |
277.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
178.200 |
175.800 |
98.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
340.400 |
321.200 |
178.700 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1802.300 |
1511.100 |
1362.400 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
30.000 |
30.000 |
30.000 |
|
|
BALANCE CARRIED
TO THE B/S |
2112.700 |
1802.300 |
1511.100 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1076.200 |
1123.900 |
1138.803 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.37 |
2.24 |
1.24 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover |
|
|
2690.000 |
|
|
|
|
|
Expected Sales (2013-14) : Rs.2890.000 Millions
The above information has been parted by Mr. Don Crasto.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
11.33
|
10.57 |
6.48
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.36
|
5.97 |
3.51
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.14 |
0.09
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.34
|
1.29 |
1.51
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.23
|
0.29 |
2.26
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS:
(Rs.
in Millions)
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Creditors due others |
325.801 |
330.771 |
253.662
|
|
|
|
|
|
|
Total |
325.801 |
330.771 |
253.662
|
|
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 three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
Yes |
|
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) |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
PERFORMANCE OF THE
HOTEL:
During the year, Grand Hyatt Mumbai completed its seventh full year of operation. The Hotel achieved a total turnover of Rs.3004.100 Millions (Rs 3040.100 Millions in 2010-11) on which it made profit before tax of Rs. 518.600 Millions (Rs 497.000 Millions in the previous year). After accounting for total tax provision of Rs. 178.200 Millions, the Company’s net profit after tax for the year amounted to Rs. 340.400 Millions as against Rs 321.200 Millions in 2010-11. There is a marginal reduction in the turnover during the year. However, due to reduction in the interest cost, profit before tax was marginally higher compared to 2010-11.
Although competition from other comparable hotels in its area of operation is on the rise, the Company hopes to improve upon its growth and profitability in the current year, cashing in on its known and established brand name.
BUSINESS OVERVIEW:
During the year, the Indian economy was due to a variety of national and international factors, notably the slow-down in the euro zone following sovereign debt crisis, volatility of exchange rates and the steep depreciation of the Indian Rupee, unrelenting inflation and high commodity prices, political uncertainties and slow-down in reforms. This apart, deficient monsoon may pull down the economic growth to about 6% in the current year. Thus, FY 2012-13 is expected to be a challenging one for the Company, calling for step-up in marketing efforts in the face of stiff competition, significant improvement in ARR and maximum possible reduction in operational costs.
NEW PROJECTS:
The Company’s new 5 Star Hotel Projects in Ahmedabad and New Delhi are making satisfactory progress. The requisite statutory and other approvals for the establishment of the Hotels have been received and project work is under way. According to present indications, the Ahmedabad Hyatt Regency Project with about 271 keys is likely to be completed by June 2013 and the Delhi DIAL Project with about 389 rooms and 146 apartments by June 2014, both as per schedule and within the estimated capital cost.
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U55101MH1985PTC152863 |
|
Name of the
company |
JUNIPER HOTELS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Off Western
Express Highway, Santacruz (East), Mumbai – 400055, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10287285 |
|
Type of charge |
· Immovable property · Book debts · Movable property (not being pledge) ·
Others (Assignment Rights on All Contracts) |
|
Particular of charge
holder |
IDBI Bank
Limited, IDBI Towerwtc Complex, Cuffe Parade, Mumbai - 400005, Maharashtra,
India CIN No.: L65190MH2004GOI148838 |
|
Nature of
instrument creating charge |
Supplemental
Indenture of Mortgage dated 18th April 2013 executed between Juniper Hotels
Private Limited on the one hand and IDBI Bank, Axis Bank ,Punjab and Sind
Bank and State Bank of Patiala on the other. |
|
Date of
instrument Creating the charge |
18.04.2013 |
|
Amount secured by
the charge |
Rs.7636.300
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest IDBI - Base Rate
+ 3.00% Axis - Base Rate
+ 3.25% Punjab and Sind Bank
- Base Rate + 3.25% State Bank of
Patiala - Base Rate + 2.50% Terms of Repayment IDBI - 36 stepped
up quarterly repayment beginning 28th February 2015 Axis Bank - 40
stepped up quarterly repayment beginning 25th July 2015 Punjab and Sind
Bank - 40 stepped up quarterly repayment beginning 28th February 2015 State Bank of
Patiala - 40 stepped up quarterly repayment beginning 28th February 2015 Margin 35.71% Extent and Operation of the charge First pari passu
charge a) On immovable
properties, both present and future with respect to the projects. b) By way of
hypothecation in favour of the lenders of borrower's movables, including
Project book debt, operating cash-flows, all bank accounts both present and
future with respect to the projects subject to prior charge on current assets
for working capital requirements. c) On assignment
of rights etc on Project Documents, insurance contracts etc |
|
Short particulars
of the property or asset(s) charged (including complete address and location of
the property) |
·
Immovable
properties situate at City Survey No: 135 being sub plot no: A of Final Plot
No:17 , TP Scheme no:3 admeasuring 7454.66 Sq Mtrs Mouje Usmanpura Taluka in
the city of Ahmedabad ·
The
super structures constructed on the land acquired on licence under the
development agreement by the borrower located at IGI Airport, Hospitality
District, New Delhi ·
Movable
properties relating to the projects including its movable plant and
machinery, spares, tools and accessories, vehicles, furniture and fixtures
etc ·
Assignment
of project documents pertaining to the projects |
|
Date of
instrument modifying the charge |
30.10.2012 |
|
Particulars of
the present modification |
Originally the
charge was registered for a sum of Rs 7636.300 Millions. Axis Bank has
downsized their portion of Term Loan by Rs 1380.000 Millions and the same was
taken up by State Bank of Patiala. The revised charge holders' list is given
below - IDBI Bank - Rs 3000.000 Millions, Axis Bank 1620.000 Millions, Punjab
and Sind Bank -Rs 1636.300 Millions and State Bank of Patiala - Rs 1380.000
Millions. |
FIXED ASSETS:
●
Hotel building
●
Land (Free hold)
●
Plant and Machinery
●
Electrical Installations
●
Furniture and Fixture
●
Hotel Equipment
●
Office Equipment
●
Vehicle
●
Computer
●
Computer Software
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.58.27 |
|
|
1 |
Rs.91.16 |
|
Euro |
1 |
Rs.77.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.