MIRA
INFORM REPORT
|
Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
MARATHON REALTY PRIVATE LIMITED (w.e.f. 18.12.2007) |
|
|
|
|
Formerly Known
As : |
MARATHON REALTY LIMITED |
|
|
|
|
Registered
Office : |
702, Marathon Max, Mulund Goregaon Link Road, Mumbai-400080,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.12.1994 |
|
|
|
|
Com. Reg. No.: |
11-084037 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 141.123 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70100MH1994PTC084037 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM3361R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Construction Activity |
|
|
|
|
No. of Employees
: |
450 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 12000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Eventhough the construction industry is going through a declined
phase, the company has performed well. Net profitability as well as the sales
turnover has increased tremendously during 2012. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 DETAILS)
|
Name : |
Mr. Virendra |
|
Designation : |
Secretarial Department |
|
Contact No.: |
91-22-67248421 |
|
Date : |
12.06.2013 |
LOCATIONS
|
Registered Office : |
702, Marathon Max, Mulund Goregaon Link Road, Mumbai-400080,
Maharashtra, India |
|
Tel. No.: |
91-22-67248484/8421 / 67248484 / 67728450 |
|
Fax No.: |
91-22-67728405 / 25646008 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Chetan Ramniklal Shah |
|
Designation : |
Director |
|
Address : |
Kailash Bunglow, Devidatal Road, Mulund (West), Mumbai – 400080,
Maharashtra, India |
|
Date of Birth/Age : |
13.03.1956 |
|
Date of Appointment : |
23.12.1994 |
|
DIN No.: |
00135296 |
|
PAN No.: |
AAJPS0811J |
|
|
|
|
Name : |
Mr. Mayur Ramniklal Shah |
|
Designation : |
Director |
|
Address : |
Kailash Bunglow, Devidatal Road, Mulund (West), Mumbai – 400080,
Maharashtra, India |
|
Date of Birth/Age : |
13.04.1962 |
|
Date of Appointment : |
23.12.1994 |
|
DIN No.: |
00135504 |
|
PAN No.: |
AAJPS2829Q |
KEY EXECUTIVES
|
Name : |
Mr. Virendra |
|
Designation : |
Secretarial Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of
Shareholders (Equity Share) |
|
No. of Shares |
|
Chetan Shah S/o Ramnlklal Shah |
|
130763 |
|
Mayur Shah S/o Ramnlklal Shah |
|
100000 |
|
Ansuya Shah W/o Ramnlklal Shah |
|
100000 |
|
Ramnlklal Shah S/o Zaverchand Shah |
|
313000 |
|
Rita Shah W/o Dhanraj Shah |
|
36000 |
|
Shailaja Shah W/o Chetan Shah |
|
346250 |
|
Sonal Shah W/o Mayur Shah |
|
226000 |
|
Ramnlklal Shah (HUF) |
|
2500 |
|
Mayur Shah {HUF) |
|
72500 |
|
Gargl Chetan Shah D/o Chetan Shah |
|
475000 |
|
Parmeet Mayui Shah S/o Mayur Shah |
|
550000 |
|
Bhaiubhal Shah |
|
10 |
|
Lyoti Shah W/o Kishor Shah |
|
20 |
|
Abhay Tlbrewala |
|
1 |
|
Anandpra Vash Tlbrewala (HUF) |
|
1 |
|
Ashok Tlbrewala (HUF) |
|
1 |
|
Kanhalyala! Tlbrewala (HUF) |
|
1 |
|
Ruchlka Tlbrewala |
|
1 |
|
Vljayaben R. Malde |
|
1 |
|
Nilesh Mulji Dodhla (HUF) |
|
1 |
|
Total |
|
2352050 |
|
Names of
Shareholders (Preference Shares) |
|
No. of Shares |
|
Chetan Shah S/o Ramnlklal Shah |
|
130770 |
|
Mayur Shah S/o Ramnlklal Shah |
|
100000 |
|
Artsuya Shah W/o Ramnlklal Shah |
|
100000 |
|
Ramnlklal Shah S/o Zaverchand Shah |
|
313000 |
|
Rita Shah W/o DhanraJ Shah |
|
36000 |
|
Shallaja Shah W/o Chetan Shah |
|
346250 |
|
Sonal Shah W/o Mayur Shah |
|
226000 |
|
Ramnlklal Shah (HUF] |
|
2500 |
|
Mayur Shah (HUF) |
|
72500 |
|
Gargl Chetan Shah D/o Chetan Shah |
|
475000 |
|
Parmeet Mayur Shah S/o Shrl Mayur Shah |
|
550000 |
|
Bhatuohal Shah |
|
10 |
|
Jyoti Shah W/o Kishor Shah |
|
20 |
|
Total |
|
2352050 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.99 |
|
Others |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction Activity |
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Products : |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
|
No. of Employees : |
450 (Approximately) |
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|
Bankers : |
· HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India · Axis Bank Limited, Dhiraj Baug, L.B.S. Marg, Near hariniwas Circle, Thane (West), Mumbai City - 400062, Maharashtra, India · IDBI Bank Limited · State Bank of India · Andhra Bank ·
ICICI Bank Limited ·
Standard Chartered Bank ·
Kotak Mahindra Prime Limited ·
State Bank of Hyderabad ·
State Bank of Patiala ·
State Bank of Mysore |
||||||||||||||||||
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|
||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institutions: |
· Capital First Limited, 15th Floor, Tower -2, Indiabulls Finance Centre, Senapati Bapat Marg, Elphinstone, Mumbai - 400013, Maharashtra, India · 3i Infotech Trusteeship Services Limited, 3rd to 6th floor, International Infotech Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai - 400703, Maharashtra, India ·
IL and FS Trust Company Limited, IL and FS
Financial Centreplot No C22 G Block Bandra, Kurla Complex Bandra East, Mumbai
- 400051, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Thacker Butala and Associates Chartered Accountants |
|
Address : |
2nd Floor, Ismile Building, 381, D N Road, Mumbai – 400001, Maharashtra, India |
|
PAN No.: |
AAAFT2158F |
|
|
|
|
Subsidiaries : |
· Chhaganlal Khimji and Company Private Limited · Sanvo Resort Private Limited · Parmeka Private Limited · Matrix Waste Management Private Limited ·
Marathon IT Infrastructure Private Limited |
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|
|
|
Associates : |
· Citadel Realty and Developers Limited · Cornell Housing and Infrastructure Private Limited · Fibre Box Bomaby Private Limited · Marathon Fiscal Private Limited · Marathon Nextgen Realty Limited · Marathon Prachin Infra. Private Limited · Marathon Securities and Properties Private Limited · Nextgen City Container Depot Private Limited · Nexzone Land Private Limited · Sonasha Enterprises · United Builders · United Enterprises · Vinotak Investment Private Limited · Matrix Enclaves Projects Developments Private Limited · Matrix Water Management Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3100000 |
Equity Shares |
Rs.10/- each |
Rs.31.000 Millions |
|
2400000 |
0% Non-cumulative Preference Shares |
Rs.50/- each |
Rs.120.000 Millions |
|
100000 |
11% Cumulative Redeemable Cumulative Preference Shares |
Rs.100/-each |
Rs.10.000 Millions |
|
|
Total |
|
Rs.161.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2352050 |
Equity Shares |
Rs.10/- each |
Rs.23.521
Millions |
|
2352050 |
0% Non-cumulative Preference Shares |
Rs.50/- each |
Rs.117.602 Millions |
|
|
Total |
|
Rs.141.123 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 |
|
141.123 |
141.123 |
|
(b) Reserves & Surplus |
|
3043.162 |
2987.337 |
|
(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 |
|
708.175 |
2954.027 |
|
(b) Deferred tax liabilities (Net) |
|
(20.398) |
1.995 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
2685.087 |
2532.862 |
|
(b) Trade payables |
|
181.409 |
204.408 |
|
(c) Other current liabilities |
|
5221.554 |
2505.153 |
|
(d) Short-term provisions |
|
10.263 |
22.135 |
|
TOTAL |
|
11970.375 |
11349.040 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
425.604 |
354.208 |
|
(ii) Intangible Assets |
|
1.123 |
1.871 |
|
(iii) Capital work-in-progress |
|
5.549 |
65.859 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
2357.287 |
1990.552 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
48.495 |
285.200 |
|
(e) Other Non-current assets |
|
8.604 |
30.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
302.250 |
|
(b) Inventories |
|
6541.995 |
5350.087 |
|
(c) Trade receivables |
|
262.017 |
251.433 |
|
(d) Cash and cash equivalents |
|
171.282 |
94.478 |
|
(e) Short-term loans and advances |
|
2148.419 |
2622.302 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
TOTAL |
|
11970.375 |
11349.040 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
23.521 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1002.475 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1025.996 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
2387.180 |
|
|
2] Unsecured Loans |
|
|
1707.350 |
|
|
TOTAL BORROWING |
|
|
4094.530 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.492 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5121.018 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
124.855 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
524.571 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
149.033 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
2511.956 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
2169.665 |
|
Total
Current Assets |
|
|
4830.654 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
95.706 |
|
|
Other Current Liabilities |
|
|
114.218 |
|
|
Provisions |
|
|
158.268 |
|
Total
Current Liabilities |
|
|
368.192 |
|
|
Net Current Assets |
|
|
4462.462 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
Deferred Revenue Expenditure |
|
|
9.130 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5121.018 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
434.369 |
595.929 |
|
|
|
Other Income |
|
|
28.723 |
|
|
|
TOTAL (A) |
931.906 |
434.369 |
624.652 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Increase in stock and WIP |
|
|
(452.552) |
|
|
|
Property development and Other Expenses |
|
|
957.255 |
|
|
|
TOTAL (B) |
854.122 (Including
Financial Expenses) |
359.047 (Including
Financial Expenses) |
504.703 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
119.949 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES (D) |
|
|
40.491 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
77.784 |
75.322 |
79.458 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION (F) |
42.574 |
23.667 |
21.786 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
37.210 |
51.655 |
57.672 |
|
|
|
|
|
|
|
|
|
|
TAX (H) |
21.614 |
13.879 |
4.040 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
58.824 |
37.776 |
53.632 |
|
|
|
|
|
|
|
|
|
|
Prior Period Profit/(Loss) |
NA |
NA |
15.709 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
927.477 |
891.282 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
NA |
25.000 |
|
|
|
Dividend |
NA |
NA |
7.056 |
|
|
|
Tax on Dividend |
NA |
NA |
1.090 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
927.477 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
12.50 |
8.03 |
22.80 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.31
|
8.70 |
8.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
9.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.39
|
0.56 |
1.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.02 |
5.62 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.07
|
1.75 |
3.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.64 |
13.12 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Creditors due others |
181.409 |
204.408 |
95.706 |
|
Total |
181.409 |
204.408 |
95.706 |
|
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 |
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 |
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 |
No |
FUTURE OUTLOOK
The company has land bank at prime locations. With ambitious and cautious plans the Company expects to rise to the position in the elite league of developers. Economies of scale, world class quality construction, identification of market needs and best of marketing efforts will add further to the bottom line. The Company with its sustained and consistent efforts will achieve its targets well before deadline.
Challenges for the Company lies in selling the Commercial Project at Lower Parel which is getting completed. Market scenario improving, the Company expects to generate substantial cash flow from Marathon FutureX.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
2685.087 |
2532.862 |
|
Total |
2685.087 |
2532.862 |
|
|
|
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U70100MH1994PTC084037 |
|
Name of the
company |
MARATHON REALTY
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
702, Marathon Max, Mulund Goregaon Link Road, Mumbai-400080,
Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge identification
(ID) number of the charge to be modified |
10209512 |
|
Type of charge |
· Immovable property · Any interest in immovable property · Book debts · Movable property (not being pledge) · Floating charge ·
Others (Rights, Title and Interest Into and
The Project Docs,) |
|
Particular of
charge holder |
3i Infotech Trusteeship Services Limited, 3rd to 6th floor, International Infotech Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai - 400703, Maharashtra, India |
|
Nature of
instrument creating charge |
Release of Part
of Mortgage deed dated 4th February, 2013 |
|
Date of
instrument Creating the charge |
04.02.2013 |
|
Amount secured by
the charge |
Rs.400.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Particulars of
interest as set forth in Common Loan Agreement dated. March 4, 2010 Terms of Repayment The repayment of
the Loans in the Four (4) unequal installments in accordance with the
Amortization Schedules set forth in Common Loan Agreement dated March 4,
2010. Margin The total cost of
the Projects is Rs.6540.300 Millions which is being funded by the debt to the
extent of Rs.4000.000 Millions tied up with the Leaders and the margin is
represented by Project Equity Capital to the extent of Rs.2540.300 Millions. Extent and Operation of the charge Pari passu charge
by way of registered mortgage and charge over the Project Leasehold Land
adm.13170.25 sq.ft. together with all moveable properties present and future,
together with structured to be constructed thereon standing in the name of
Marathon Realty Private Limited and Parmeka Private Limited; Assignment of
developers rights of the project land. Assignment of project docs, assignment
of rights, title and interest into and under the Project Doc. Clearance etc.
pari passu charge on escrow account. Others 3i Infotech
Trusteeship Services Limited is acting as Security Trustee for the SBH Lead
Consortium Lenders being SBH for its Rs.1500.000 Millions; IDBI for its
Rs.750.000 Millions; SBI for its Rs.700.000 Millions; SBOP for its Rs.500.000
Millions; SBM for its Rs.300.000 Millions and AB for its Rs.250.000 Millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Pari Passu charge by way of registered mortgage and charge over the Project Leasehold Land admeasuring 13170. 25 sq.mtrs. with a saleable area of 708000 sq.ft. situate at D Lisle Road, Mafatlal Mills Mafatlal Mills Compound, N. M. Joshi Marg, Lower Parel, within the Registration Dist. of Mumbai, in the State of Maharashtra, India together with all buildings, erections, strucutures, godowns and constructions of every description which are standing, erected or attached or shall at any time hereafter during the continuance of the security hereby constituted be erected and standing or attached thereto, both present and future and together with all moveable properties present and future together with structures to be constructed thereon standing in the name of Marathon Realty Private Limited. and Parmeka Private Limited. Assignment of development rights of the project land, Assignment of project docs, assignment of right, title and interest into and under of Marathon Realty Private Limited and Parmeka Private Limited Personal Guarantee duly executed by Directors of the Company Mr. Chetan R. Shah and Mr. Mayur R. Shah Loan availed a sum of Rs.4000.000 Millions by Marathon Realty Private Limited. alongwith Parmeka Private Limited. |
|
Date of
instrument modifying the charge |
23.01.2013 |
|
Particulars of
the present modification |
As per the
Release Deed dated.04.02.2013 about 38,611 sq.ft. has been released as
described below : Floor Unit Area (sq.ft.) 16th 1601 15,475 16th 1602 15,699 17th 1701 7,437 All the others
terms and condition remain same as per Common Loan Agreement dated 4-3-2013. |
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
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 : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
YES/NO |
|
--EPF |
YES/NO |
YES/NO |
|
TOTAL |
|
47 |
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.