|
Report Date : |
25.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ADLABS ENTERTAINMENT LIMITED (w.e.f 27.04.2010) |
|
|
|
|
Formerly Known
As : |
ADLABS ENTERTAINMENT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
30/31 Sangdewadi, Khopoli Pali Road, Taluka – Khalapur – 410203,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
10.02.2010 |
|
|
|
|
Com. Reg. No.: |
11-199925 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs. 419.167 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92490MH2010PLC199925 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICA2573P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
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|
|
|
Line of Business
: |
Subject is engaged into Building and Running of Amusement Park. (Name of Park “Adlabs Imagica”) |
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|
|
|
No. of Employees
: |
900 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 10000000 |
|
|
|
|
Status : |
Recently Commenced Business Activity |
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|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a subsidiary of ‘Thrill Park Limited, India’. Even though the
company was incorporated during February 2010, it recently commenced its
business activity from April 2013. The financial position of the company is sound and healthy. Trade
relations are improving. Business is active. Payment terms are unknown. The concern 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term loans: BB- |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
September 2012 |
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. Deepak Agarwal |
|
Designation : |
AUP in Account and Finance |
|
Contact No.: |
91-22-40680000 |
|
Date : |
24.06.2013 |
LOCATIONS
|
Registered Office : |
30/31 Sangdewadi, Khopoli Pali Road, Taluka – Khalapur – 410203,
Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
9th Floor, Lotus Business Park, New Link Road, Andheri
(West), Mumbai – 400 053, Maharashtra, India |
|
Tel. No.: |
91-22-40680000 / 40680018 |
|
Fax No.: |
91-22-40680088 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 05.09.2012
|
Name : |
Mr. Manmohan Ramanna Shetty |
|
Designation : |
Director |
|
Address : |
21, Golden Beach, Ruia Park Road, Juhu, Mumbai – 400049, Maharashtra,
India |
|
Date of Birth/Age : |
24.02.1948 |
|
Date of Appointment : |
10.02.2012 |
|
DIN No.: |
00013961 |
|
PAN No.: |
AAIPS2569L |
|
|
|
|
Name : |
Mr. Kapil Vishnuprasad Bagla |
|
Designation : |
Whole-time Director |
|
Address : |
4A, 401-402, Himalaya Building, Asha Nagar, Off Western Express
Highway, Kandivali (East), Mumbai – 400 101, Maharashtra, India |
|
Date of Birth/Age : |
09.10.1968 |
|
Qualification : |
B.E., M.M.S. |
|
Experience : |
18 years |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
00387814 |
|
PAN No.: |
AABPB2274N |
|
|
|
|
Name : |
Mr. Praveen Chamanlala Nischol |
|
Designation : |
Additional Director |
|
Address : |
Rita Apartment, 1st Floor, 15 Golf Link Road, Khar (West),
Mumbai – 400052, Maharashtra, India |
|
Date of Birth/Age : |
07.11.1948 |
|
Date of Appointment : |
25.03.2013 |
|
DIN No.: |
00269906 |
|
PAN No.: |
|
KEY EXECUTIVES
|
Name : |
G S Jhala |
|
Designation : |
Secretary |
|
Address : |
Bari Sadri House, 18 Naiyon Ki Talai, Udaipur – 313 001, Rajasthan,
India |
|
Date of Birth/Age : |
04.07.1959 |
|
Date of Appointment : |
10.02.2012 |
|
PAN No.: |
ABMPJ8628G |
|
|
|
|
Name : |
Mr. Deepak Agarwal |
|
Designation : |
AUP in Account and Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 05.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Thrill Park Limited, |
|
43571341 |
|
Manmohan Shetty |
|
1242 |
|
Shashikala Shetty |
|
1775 |
|
Aarti Shetty |
|
1775 |
|
Kapil Bagla |
|
178 |
|
Chandir Gidwani |
|
178 |
|
Deepak Agrawal |
|
178 |
|
|
|
|
|
TOTAL |
|
43576667 |
As on 07.12.2012
|
Names of Allottees |
|
No. of Shares |
|
|
|
|
|
Centrum Financial Services Limited, India |
|
2945455 |
|
|
|
|
|
TOTAL |
|
2945455 |
Equity Share Break up (Percentage of Total Equity)
As on 05.09.2012
|
Category |
Percentage |
|
Bodies corporate |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into Building and Running of Amusement Park. (Name of Park “Adlabs Imagica”) |
|
|
|
|
Imports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
China ·
Italy ·
USA |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Others |
||||||||||||
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|
||||||||||||
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No. of Employees : |
900 (Approximately) |
||||||||||||
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|
||||||||||||
|
Bankers : |
·
Union Bank, Andheri (West), Mumbai, Maharashtra,
India ·
Syndicate Bank, Nariman Point Branch, Nariman
Bhavan, Ground Floor, Nariman Point, Mumbai – 400 021, Maharashtra, India |
||||||||||||
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|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution: |
IDBI Trusteeship Services Limited, Asian Building, Ground Floor, 17 R
Kamani Marg, Ballard Estate, Mumbai – 400 001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
A. T. Jain and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFA2587P |
|
|
|
|
Holding Company : |
Thrill Park Limited, India [CIN No.: U92190MH2007PLC175250] |
|
|
|
|
Entities
controlled by directors : |
Walkwater Properties Private Limited |
CAPITAL STRUCTURE
After 05.09.2012
Authorised Capital : Rs. 500.000 Millions
Issued, Subscribed & Paid-up Capital :Rs. 458.721
Millions
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45000000 |
Equity Shares |
Rs.10/- each |
Rs. 450.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41916667 |
Equity Shares |
Rs.10/- each |
Rs. 419.167
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 |
|
419.167 |
372.676 |
|
(b) Reserves & Surplus |
|
2084.777 |
1858.380 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
0 |
|
(2) Share Application money pending allotment |
|
0.000 |
57.549 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2503.944 |
2288.605 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
30.705 |
252.999 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.964 |
0.000 |
|
Total Non-current Liabilities (3) |
|
31.669 |
252.999 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1950.125 |
201.905 |
|
(b) Trade payables |
|
168.033 |
107.431 |
|
(c) Other current
liabilities |
|
15.142 |
2.548 |
|
(d) Short-term provisions |
|
6.551 |
2.715 |
|
Total Current Liabilities (4) |
|
2139.851 |
314.599 |
|
|
|
|
|
|
TOTAL |
|
4675.464 |
2856.203 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
2301.237 |
2264.443 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
2155.902 |
443.380 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
68.804 |
69.493 |
|
(e) Other Non-current assets |
|
0.000 |
3.638 |
|
Total Non-Current Assets |
|
4525.943 |
2780.954 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
|
61.896 |
65.305 |
|
(e) Short-term loans and
advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
87.625 |
9.944 |
|
Total Current Assets |
|
149.521 |
75.249 |
|
|
|
|
|
|
TOTAL |
|
4675.464 |
2856.203 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
313.842 |
|
|
2] Share Application Money |
|
|
33.500 |
|
|
3] Reserves & Surplus |
|
|
1564.213 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1911.555 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
232.375 |
|
|
TOTAL BORROWING |
|
|
232.375 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2143.930 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2234.508 |
|
|
Capital work-in-progress |
|
|
186.190 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
5.746 |
|
|
Other Current Assets |
|
|
69.553 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
75.299 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
13.749 |
|
|
Other Current Liabilities |
|
|
341.601 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
355.350 |
|
|
Net Current Assets |
|
|
(280.051) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
3.283 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2143.930 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Other Expenses |
5.296 |
0.000 |
0.000 |
|
|
|
TOTAL |
5.296 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(5.296) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(5.296) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(5.296) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.760 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
(6.056) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
Nil |
Nil |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.16) |
0.00 |
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.08
|
0.20 |
0.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.07
|
0.23 |
0.21 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors |
168.033 |
107.431 |
13.749 |
|
|
|
|
|
|
Total |
168.033 |
107.431 |
13.749 |
|
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) |
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 |
NOTE: Registered office of the company has been
shifted from30/31 Sngdewadi, Khopoli Pali Road, Taluka – Khalapur – 410206,
Maharashtra, India to the present address w.e.f
22.04.2013
OPERATIONS:
Since previous years, the Company is involved in developing a mega-theme
park project at village Sangdewadi, Khapoli, Tehsil. Khalapur, Dist. Raigad in
the state of Maharashtra and the project is in advanced stages of implementation.
The Company has completed acquisition of land for the project and the
operations are expected to commence in FY 2013-14 as planned. The project,
which is spread over an area of 300 Acres, comprises of a theme park, a Water
park, Retail, Dining and Entertainment Area and a Family hotel.
During the year, and specifically in the first quarter of 2012, the
Company has completed the process of securing project finance aggregating to
Rs.14748.000 Millions from Consortium Banks through their Lead Bank (Lenders
Agent) viz. Union Bank of India.
The Company successfully created requisite security for the above loan
in favour of security trustees i.e. IDBI Trusteeship Services Limited.
.
All the necessary approvals, consents, permissions and sanctions for constructions
of the Theme Park project are in place.
FUTURE PROSPECTS:
The Indian consumers are looking forward to a world class experience in
amusement park entertainment and The Company has taken the initiative in
creating a high quality multi-use entertainment destination in the country.
Mumbai, in particular, offers some entertainment options but there is no
leisure destination that offers a variety of outdoor leisure and holiday fun
activities of international standards at a single place. There exists a gap in
the kind of entertainment facilities offered by current Indian players as
compared to international counterparts There is a large population in the
catchment area of the project with high disposable income. Also, there is a
changing lifestyle with an increasing trend towards week-end destinations,
getaways to entertainment and other leisure destinations.
Various State Governments, including the Government of Maharashtra, are
encouraging development of tourism in their respective states and have
identified amusement parks as one of the key areas to attract both tourists and
investments. Their project has been awarded the Mega Project Status from the
Tourism Department of the Government of Maharashtra,
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
30.705 |
252.999 |
|
Total |
30.705 |
252.999 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U92490MH2010PLC199925 |
|
Name of the
company |
ADLABS
ENTERTAINMENT LIMITED |
|
Address of the
registered office or of the principal place of business in |
9th Floor, Lotus Business Park, New Link Road, Andheri
(West), Mumbai – 400 053, Maharashtra, India Email: ghanshyam.jhala@walkwater.in
|
|
This form is for |
Modification of charge |
|
Charge identification
(ID) number of the charge to be modified |
10343713 |
|
Type of charge |
·
Uncalled share
capital ·
Immovable
property ·
Any interest in
immovable property ·
Book debts ·
Movable
property (not being pledge) ·
Floating charge ·
As per the
Indenture of Mortgage dated 26/3/2012 |
|
Particular of
charge holder |
CIN:
U92490MH2010PLC199925 IDBI Trusteeship Services Limited, Asian Building, Ground Floor, 17 R
Kamani Marg, Ballard Estate, Mumbai – 400 001, Maharashtra, India Email: itsl@idbitrustee.co.in
|
|
Nature of
instrument creating charge |
Indenture of
mortgage dated 26-03-2012,executed in favour of IDBI Trusteeship Services Lmited
as the security Trustee for the benefit of (a) Union Bank of India (b)Indian
Overseas bank (c)Bank of Baroda (d) Bank of India (e)Corporation Bank (f) The
Jammu and kashmir Bank (g)Syndicate bank (h) Vjaya Bank (i) Centrum Financial
Services Ltd (j) Punjab and Sind Bank(k) Central bank of India (l) Life
Insurance Corporation of India (m) Dena Bank (n) Tourism Finance Corporation
of India Ltd; |
|
Date of
instrument Creating the charge |
31.07.2012 |
|
Amount secured by
the charge |
Rs.14748.000 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest See the schedule
of interest enclosed as an optional attachment to the form Terms of
Repayment The repayment
will be made in 108 installments .The first re-payment installment will be
due on the April,30,2014.The last re-payment installment shall be paid on
March 31,2023. Margin 2:1 Extent and
Operation of the charge As per clause 3.1
of the Indenture of Mortgage dated 26-03-2102. Others As per the
Indenture of Mortgage dated 26-03-2012. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
A first ranking
charge on land admeasuring 250.09 ACres, buildings, located at the project
site at Khopoli, Taluka. Khalapur, Dist. Raigad (Maharashtra) A first ranking
charge on tangible moveable assets (both present and future) including
movable plant and machinery, machinery spares, equipment and other moveables
of the Borrower. A first ranking
charge on all project documents and approvals both present and future. A first charge on
all Insurance Contracts (along with agreed bank clause) present an future. A first charge on
the trust and retention accounts together with permitted Investments ,all
moneys and securities lying to the credit of such accounts or liable to be
credited to such accounts. A first charge on
the book debts operating cash flows, receivables, commissions, revenue, and
currents assets. Including any
monies received under any letter of credit, guarantee and performance bond
provided by any party to the project documents and other amounts owing to and
received by the borrower. All intangible assets
of the Borrower including but not limited to goodwill, trademarks and
patents, present and future Other assets of
the borrower, both present and future including the uncalled capital(in
respect of any partly paid shares issued by the borrower ) and cash in hand. Other assets as
per the Indenture of Mortgage dated 26-03-2012. |
|
Particulars of
the present modification |
Indenture of
Additional Security executed on 31st July, 2012 between the Company and IDBI
Trusteeship Services Limited for mortgaging additional land of 48.3250 Acres
of land at Taluk Khalapur Dist. Raigad in state of Maharasthra,in addition to
250.09 acres already mortgaged earlier in March,2012.The total land
mortgaged now aggregates to 298.4
Acres in compliance with the Loan documents. |
FIXED ASSETS
Tangible assets
·
Land
·
Plant and equipment
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Motor 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 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] on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] 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.59.73 |
|
|
1 |
Rs.91.82 |
|
Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
36 |
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.