MIRA
INFORM REPORT
|
Report Date : |
09.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
PARAMOUNT Cuisines PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-3/45, Paschim Vihar, New Delhi – 110063, Delhi |
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
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|
Date of
Incorporation : |
06.07.2009 |
|
|
|
|
Com. Reg. No.: |
191915 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U55101DL2009PTC191915 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in Food Business. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
Status : |
Yet to commence its business activity |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated in the year July 2009. But
they have not yet started their business activity. The management has confirmed that during the current year i.e. 2013
they will commence its business activity. No Other information could be made Available. Payments are reported to
be unknown. The company can be considered
for business dealings on safe and secured 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
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.
LOCATIONS
|
Registered Office : |
B-3/45, Paschim Vihar, New Delhi – 110063, Delhi,
India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 25.09.2012
|
Name : |
Mr. Manjit Singh Saini |
|
Designation : |
Director |
|
Address : |
B-3/45, Paschim Vihar, New Delhi, India |
|
Date of Birth/Age : |
30.03.1947 |
|
Date of Appointment : |
06.07.2009 |
|
DIN No.: |
00311579 |
|
|
|
|
Name : |
Mr. Navneet Saini |
|
Designation : |
Director |
|
Address : |
B-3/45, Paschim Vihar, New Delhi, India |
|
Date of Birth/Age : |
01.01.1951 |
|
Date of Appointment : |
06.07.2009 |
|
DIN No.: |
00311900 |
|
|
|
|
Name : |
Mr. Swarn Singh Saini |
|
Designation : |
Director |
|
Address : |
B-3/45, Paschim Vihar, New Delhi, India |
|
Date of Birth/Age : |
30.04.1938 |
|
Date of Appointment : |
15.03.2012 |
|
DIN No.: |
00312592 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Manjit Saini Singh |
|
60000 |
|
Navneet Saini |
|
40000 |
|
Total |
|
100000 |
AS ON 25.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Food Business. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
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|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Anil Chopra Chartered Accountant |
|
Address : |
26/1A, 2nd Floor,Ashok Nagar, New Delhi – 110018, Delhi,
India |
|
|
|
|
Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 25.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.1/- |
Rs.1.000 Million |
|
|
|
|
|
Subscribed Share Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.1/- |
Rs.1.000 Million |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.1/- |
Rs.0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.100 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
0.100 |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
0.100 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.200 |
0.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.000 |
0.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
0.147 |
0.065 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.065 |
0.041 |
|
Total
Current Assets |
|
0.212 |
0.106 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
|
0.012 |
0.006 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
0.012 |
0.006 |
|
|
Net Current Assets |
|
0.200 |
0.100 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.200 |
0.100 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Dept/Networth) |
|
|
1.00 |
NA |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
17.66 |
17.66 |
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 |
No |
|
13] |
Reasons for variation
<> 20% |
-------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
No |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
No |
|
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 |
No |
NEWS
October 20th, 2012
Shriya Kaur of
Paramount Cuisines Private Limited, Marc Mushkin, Senior Vice President of International
Development for Pollo Tropical, and Manjit Singh Saini, CEO of Paramount
Cuisines Private Limited sign an agreement to open 10 initial Pollo
Tropical restaurant locations in northern India.
Pollo
Tropical has entered into its first franchise development agreement
outside the Western Hemisphere – a 10-unit deal to bring the popular
quick-casual chain of tropical flame-grilled chicken restaurants to northern
India. This marks the brand’s 11thinternational franchised market, extending
its presence beyond the Latin America and Caribbean trade regions.
Delhi-based
Paramount Cuisines Pvt. Ltd. committed to open a minimum of 10 Pollo Tropical
locations in the National Capital Region, Punjab, Chandigarh, Haryana and Uttar
Pradesh between 2013 and 2016. Paramount Cuisines is a subsidiary of Paramount
Group, a private ISO 9001:2008-certified company with roots in precision
instruments manufacturing. Manjit Singh Saini, Paramount’s CEO, represented the
company at a recent signing ceremony at the Pollo Tropical headquarters in
Miami, Florida.
Pollo
Tropical’s expansion to India is the culmination of a yearlong
effort that began with its participation in the U.S. Department of
Commerce-sponsored Franchise Trade Mission to India.
“It became apparent
very quickly that this was a great fit,” said Marc Mushkin, Senior Vice
President of International Development for Pollo
Tropical. “Our fresh, marinated grilled chicken is a natural for
India, and will enhance our already-strong vegetarian options to expand our
appeal. The brand already has years of experience with Indian preferences in
its Trinidad franchise, where South Asian immigrants comprise more than 30
percent of the population.”
Due to the potential
for growth, Pollo
Tropical plans to award franchises in other regions of India, coinciding
with the entry of numerous international restaurant brands throughout the
country. According to the U.S. Commercial Service, India’s middle class will
grow “10-fold by 2025.” Experts predict Delhi’s capital region will be the
world’s largest metropolis by that date, and it is regarded as the hub of
Indian consumer society – with more than 50 major shopping malls already in
operation and dozens under development.
“We traveled all
over the world searching for a grilled chicken restaurant chain that would be
embraced by our country. As soon as we tasted the flavor of Pollo Tropical, we
knew our search was over,” said Paramount CEO Manjit Singh Saini. “We now have
a passion for this brand that we will proudly serve to the people of India.”
Pollo
Tropical, a part of Fiesta Restaurant Group, Inc., owns and operates
90 locations in the United States (Florida and Georgia) plus three licensed
units located on college campuses in Florida. The company has more than 30
international franchised locations in Puerto Rico, the Bahamas, Ecuador,
Honduras, Panama, Trinidad, Venezuela, and Costa Rica and has agreements in
place for additional franchised units in Guatemala, Aruba, Bonaire, and
Curaçao. The first Pollo Tropical restaurant opened in 1988 in
Miami, Florida. The unique restaurant concept is known for its fresh, never
frozen, open flame grilled chicken, marinated in a proprietary blend of
tropical fruit juices and spices, as well as authentic “made from scratch” side
dishes. For more information on Pollo Tropical, including menu items and
nutritional information as well as information about international franchising,
visit online at www.pollotropical.com.
Fiesta Restaurant
Group, Inc. owns, operates and franchises the Pollo
Tropical and Taco Cabana restaurant brands with 247 company-owned and
operated restaurants and 40 franchised restaurants in the U.S., Puerto Rico,
the Bahamas, Costa Rica, Ecuador, Honduras, Panama, Trinidad, and Venezuela as
of July 1, 2012. The brands specialize in the operation of fast-casual, ethnic
restaurants that offer distinct and unique flavors with a broad appeal at a
compelling value. Both brands feature made-from-scratch cooking, fresh salsa
bars, and drive-thru service and catering. Fiesta Restaurant Group trades on
the NASDAQ Global Select Market under the ticker symbol “FRGI” (NASDAQ: FRGI).
For more information about Fiesta Restaurant Group, Inc. visit the company’s
website at www.frgi.com.
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.54.40 |
|
|
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.71.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
18 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.