MIRA
INFORM REPORT
|
Report Date : |
13.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
TELLAPUR TECHNOCITY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C/o. Tatva
Legal, Level-II, Plot No. 1246, Road No. 62, Jubilee Hills, Hyderabad –
500033, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.04.2007 |
|
|
|
|
Com. Reg. No.: |
01-053720 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 567.100 Millions
|
|
|
|
|
CIN No.: [Company Identification
No.] |
U45400AP2007PTC053720 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDT02997B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT6507E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Construction Activity |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a special purpose vehicle led by Tishman Speyer and ICICI
Venture in Partnership with “Nagarjuna Construction Company” granted by
Hyderabad Urban Development Authority (HUDA). Tishman Speyer is one of the leading owners, developers, fund managers
and operators of real estate in the world and has assembled a property
portfolio in excess of US$61.3 billion in total value across the United
States, Europe, Latin America, India and China. ICICI Venture is one of the largest and most successful private equity
firm in India with funds under management in excess of $2 billion. It has satisfactory track record due to strong promoters. Even though the company was incorporated in the year 2007, it is yet
commence its core activity. As confirm with Mr. Koti (Secretary) the activity will start from
current year. It has incurred some pre-operative expenses as a part of project
implementation work. The company gets good financial support from its Holding Companies. Business is active. Payments are unknown. In view of strong holding, the company can be considered 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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
|
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.
INFORMATION PARTED BY
|
Name : |
Mr. Koti |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-9000717154 |
|
Date : |
22.02.2013 |
LOCATIONS
|
Registered Office : |
C/o. Tatva
Legal, Level-II, Plot No. 1246, Road No. 62, Jubilee Hills, Hyderabad –
500033, Andhra Pradesh, India |
|
Tel. No.: |
91-40-66129000 |
|
Mobile No.: |
91-9000717154 (Mr. Koti) |
|
Fax No.: |
91-40-66129009 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
400 Acre |
|
Location : |
Owned |
DIRECTORS
AS ON 24.09.2012
|
Name : |
Mr. Alluri Anantha Venkata Ranga Raju |
|
Designation : |
Nominee director |
|
Address : |
Plot No. 174, Road No. 13, Jubilee Hills, Hyderabad – 500033, Andhra
Pradesh, India |
|
Date of Birth/Age : |
02.07.1955 |
|
Date of Appointment : |
23.04.2007 |
|
DIN No.: |
00019161 |
|
|
|
|
Name : |
Mr. Alluri Narayana Raju |
|
Designation : |
Nominee director |
|
Address : |
Plot No. 168 A, Road No. 10, Jubilee Hills, Hyderabad – 500033, Andhra
Pradesh, India |
|
Date of Birth/Age : |
06.05.1967 |
|
Date of Appointment : |
11.05.2007 |
|
DIN No.: |
00026723 |
|
|
|
|
Name : |
Yallapragada Dakshina Murthy |
|
Designation : |
Alternate director |
|
Address : |
Flat No. 904, Srinath Complex, S.D. Road, Secunderabad – 500003,
Andhra Pradesh, India |
|
Date of Birth/Age : |
02.08.1950 |
|
Date of Appointment : |
20.12.2010 |
|
DIN No.: |
00031837 |
|
|
|
|
Name : |
Mr. Kudigram Ravindra |
|
Designation : |
Nominee director |
|
Address : |
301, Lakshmi Gopla, 1281 Hatiskar Marg, Prabhadevi, Mumbai – 400025,
Maharashtra, India |
|
Date of Birth/Age : |
13.08.1965 |
|
Date of Appointment : |
24.08.2007 |
|
DIN No.: |
00362200 |
|
|
|
|
Name : |
Mr. Jampana Srirama Raju |
|
Designation : |
Alternate director |
|
Address : |
#759, 7th A Cross, Sector A, 3rd Phase, New
Town, Yelahanka, Bangalore – 560064, Karnataka, India |
|
Date of Birth/Age : |
15.07.1969 |
|
Date of Appointment : |
20.12.2010 |
|
DIN No.: |
01158196 |
|
|
|
|
Name : |
Kravetz Mark Gary |
|
Designation : |
Director |
|
Address : |
300 East, 59th ST # 3307, New York 10022 |
|
Date of Birth/Age : |
09.07.1968 |
|
Date of Appointment : |
09.06.2009 |
|
DIN No.: |
01716173 |
|
|
|
|
Name : |
Mr. Manish Ramesh Desai |
|
Designation : |
Director |
|
Address : |
504, Gopal Sadan Service Road, Highway Subway, Pump House, Andheri
(East), Mumbai – 400093, Maharashtra, India |
|
Date of Birth/Age : |
08.09.1972 |
|
Qualification : |
Bachelor’s Degree with Honors in Construction Engineering from Mumbai
University and Post Graduate Diploma in Construction Management from National
Institute of Construction Management and Research (NICMAR). |
|
Date of Appointment : |
22.06.2010 |
|
DIN No.: |
02240504 |
|
|
|
|
Name : |
Mr. Rohith Bhandary |
|
Designation : |
Director |
|
Address : |
901 Shuchi Heights, Shuchidham Film City Road, Malad (East), Mumbai –
400094, Maharashtra, India |
|
Date of Birth/Age : |
06.10.1973 |
|
Qualification : |
Bachelor’s degree in Mechanical Engineering from Mysore University and
a MBA from the Indian Institute of Management Calcutta. |
|
Date of Appointment : |
03.11.2008 |
|
DIN No.: |
02381960 |
|
|
|
|
Name : |
Nilanjana Gulati |
|
Designation : |
Alternate director |
|
Address : |
16, Belle View, 85 Warden Road, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
22.12.1973 |
|
Date of Appointment : |
29.04.2011 |
|
DIN No.: |
03160719 |
|
|
|
|
Name : |
Mr. Kovilvedu Venkatesh Raghavan |
|
Designation : |
Director |
|
Address : |
No. 1652, C Block, 7th Cross, Sai Shraddha Sahkara Nagar,
Bangalore – 560092, Karnataka, India |
|
Date of Birth/Age : |
28.04.1962 |
|
Qualification : |
Bachelor’s degree in Engineering in Electrical Power from National
Institute of Engineering, Mysore |
|
Date of Appointment : |
29.04.2011 |
|
DIN No.: |
03221488 |
|
|
|
|
Name : |
Mr. Himanshu Sharma |
|
Designation : |
Director |
|
Address : |
303, Sai Sharda Enclave, IB Petrol Pump, Near Kaman, Road No. 12,
Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India |
|
Date of Birth/Age : |
16.12.1970 |
|
Date of Appointment : |
10.09.2012 |
|
DIN No.: |
06374672 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2012
|
Names of Shareholders |
No. of Shares |
% of Holding |
Total Debentures |
|
IDBI Trusteeship Services Limited (A/c. India Advantage Fund III),
India |
10501850 |
18.52 |
1012811946 |
|
IDBI Trusteeship Services Limited (A/c. India Advantage Fund IV),
India |
10501850 |
18.52 |
11118500 |
|
NCC Limited (Formerly known as Nagarjuna Construction Company
Limited), India |
14702600 |
37.04 |
1023930446 |
|
Tishman Speyer India Master Fund (Tellapur), Mauritius |
21003700 |
25.93 |
701368092 |
|
Tellapur Technocity (Mauritius) (Formerly TS Pune 79A Tech Park) |
Nil |
Nil |
2684370984 |
|
Total |
56710000 |
100.00 |
5433599968 |
AS ON 24.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Venture capital |
|
37.00 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
37.00 |
|
Bodies
corporate |
|
26.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction Activity |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
40 (Approximately) |
|
|
|
|
Bankers : |
ICICI Bank Limited, Khairatabad Branch, Hyderabad, Andhra Pradesh,
India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountants |
|
Address : |
Reliance
Humsafar, IV Floor, Road No. 11, Banjara Hills, Hyderabad-500034, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-30465000 |
|
Fax No.: |
91-40-30465299 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAIFB7355D |
|
|
|
|
Fellow Associate : |
Ř Tellapur
Technocity (Mauritius) |
|
|
|
|
Other Related Parties : |
Ř Tishman Speyer
India Master Fund (Tellapur) Ř IDBI Trusteeship
Services Limited (A/c. India Advantage Fund III) Ř IDBI Trusteeship
Services Limited (A/c. India Advantage Fund IV) Ř NCC Limited
[L72200AP1990PLC011146] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
56,710,000 |
Equity Shares |
Rs. 10/- each |
Rs. 567.100
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
567.100 |
567.100 |
567.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
4.758 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1400.237) |
(1373.809) |
(1241.869) |
|
|
NETWORTH |
(833.137) |
(806.709) |
(670.011) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
5433.600 |
5331.480 |
5306.345 |
|
|
TOTAL BORROWING |
5433.600 |
5331.480 |
5306.345 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4600.463 |
4524.771 |
4636.334 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.382 |
8.364 |
18.554 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
9.834 |
17.385 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4808.707
|
4808.593 |
6489.281 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
1.526
|
53.940 |
15.679 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
3.014
|
2.119 |
16.749 |
|
Total
Current Assets |
4813.247
|
4864.652 |
6521.709 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
207.597
|
291.730 |
1903.929 |
|
|
Other Current Liabilities |
18.403
|
73.900 |
0.000 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
226.000
|
365.630 |
1903.929 |
|
|
Net Current Assets |
4587.247
|
4499.022 |
4617.780 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4600.463 |
4524.771 |
4636.334 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
2.555 |
254.749 |
146.025 |
|
|
|
TOTAL (A) |
2.555 |
254.749 |
146.025 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Other Expenses |
25.045 |
|
|
|
|
|
Project development cost written off |
0.000 |
353.094 |
|
|
|
|
TOTAL (B) |
25.045 |
380.251 |
375.342 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(22.490) |
(125.502) |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.094 |
0.011 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(22.584) |
(125.513) |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.844 |
6.427 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(26.428) |
(131.940) |
(229.317) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(26.428) |
(131.940) |
(229.317) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(1373.809) |
(1241.869) |
(1012.552) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1400.237) |
(1373.809) |
(1241.869) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.47) |
(2.33) |
(4.04) |
|
%2013-Mar-2013_files/image001.gif){kind=small}
Note:
As claimed by Mr. Koti (Secretary) that sales turnover of the subject
company is low because company is engaged in construction activity and the
construction is going on, the income is generate only after building is constructed
and ready for sale.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(1034.36)
|
(51.79)
|
(157.04)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.55)
|
(2.71)
|
(3.51)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.16
|
0.34
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(6.52)
|
(6.61) |
(7.92) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
21.30
|
13.30 |
3.43 |
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 |
Yes |
|
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% |
Yes |
|
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 |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Fully convertible debentures others |
5433.600 |
5331.480 |
|
Total |
5433.600 |
5331.480 |
Note: The registered address
of the company has been shifted from 4th Floor, Uptown Banjara, 8-2-270/b/1/1,
8-2-268/f, 8-2-270, Road No. 3, Banjara Hills, Hyderabad - 500034, Andhra
Pradesh, India to the present w.e.f.12.08.2010
BACKGROUND
Subject was incorporated
on 23 April 2007 as a joint venture between Tishman Speyer India Master Fund
(Tellapur), The Western India Trustee and Executor Company Limited (comprising
of A/c. India Advantage Fund III and IV) and NCC Limited (Previous Known as
Nagarjuna Construction Company Limited). The company has been formed primarily
for the purpose of developing an integrated township in Hyderabad.
Tishman Speyer
India Master Fund (Tellapur), The Western India Trustee and Executor Company
Limited (A/c. India Advantage Fund III and A/c. India Advantage Fund IV) and
NCC Limited (Previous Known as Nagarjuna Construction Company Limited) held
37%, 37% and 26% respectively in the company.
Pursuant to Mumbai
High Court Order dated 6 June 2008, Western India Trustee and Executor Company
Limited (comprising of A/c. India Advantage Fund III and IV) was merged with
IDBI Trusteeship Services Limited comprising of A/c. India Advantage Fund III
and IV), consequently the name of the Share holder in the Register of the
Company has been changed to IDBI Trusteeship Services Limited (comprising of
A/c. India Advantage Fund III and IV) equally.
TELLAPUR PROJECT:
Introduction
Tellapur
Technocity Private Limited was set up as a Special Purpose Vehicle in April
2007, pursuant to Letter of Award granted by Hyderabad Metropolitan Development
Authority (HMDA) (erstwhile Hyderabad Urban Development Authority (HUDA)) to a
consortium comprising of Tishman Speyer India Master Fund, The Western India
Trustee & Executor Company Limited as Trustee of A/c. India Advantage Fund
III & A/c. India Advantage Fund IV through its investment Manager ICICI
Venture Funds Management Company Limited and Nagarjuna Construction Company
Limited.
The award was for
a project to develop an integrated township on a Public-Private-Partnership
(PPP) basis.
Location of the Project
The project is
strategically located proximate to Gachibowli and Phase 2 of the Outer Ring
Road (ORR). The Township will have convenient access to the ORR expressway. The
ORR will provide the township with easy access to some of the major nodes of
Hyderabad including Hi-Tech City, Games Village, IIIT, ISB, Hardware Park, and
Singapore Township Financial District.The township will also be connected to
the airport via the ORR expressway, providing easy air access in less than 20
minutes.
Present Status of the Project
The Company is
currently seeking to reduce the project size further from 127 acres to 100
acres and has made a detailed presentation on the project and also
restructuring issues to HMDA. In the meeting it was decided that the
Commissioner, HMDA will examine the request of TTCPL on restructuring of the
project and submit a report to the Government.
FIXED ASSETS:
Ř Leasehold
Improvements
Ř Computer Hardware
Ř Furniture and
Fixture
Ř Office Equipment
Ř Computer Software
WEBSITE DETAILS:
PRESS RELEASE:
Tellapur Township to become a reality soon
Koride Mahesh, TNN Jun 9, 2012, 01.45AM IST
HYDERABAD: Five
years after the proposal for the development of mega integrated township at Tellapur
near Ramachandrapuram, the project will finally take off soon. But the project
will come up in 100 acres not in 400 acres as proposed earlier.
The Hyderabad
Metropolitan Development Authority (HMDA) has agreed for the revised project
proposal and sent it to the Municipal Administration and Urban Development
(MA&UD) department for approval.
HMDA approves revised integrated township in
Andhra Pradesh, India
23 August 2012
The Hyderabad Metropolitan Development Authority (HMDA) has agreed for the revised project proposal for the development of mega integrated township at Tellapur near Ramachandrapuram, Andhra Pradesh, India.
As per revised proposal the project will come up in 100 acres not in 400 acres as proposed earlier. The project is sent to the Municipal Administration and Urban Development (MA&UD) department for approval.
The project developer Tellapur Technocity Private Limited proposed the integrated township at Tellapur by a consortium led by Tishman Speyers and ICICI and Nagarjuna Constructions Company in 2007 along with the erstwhile Hyderabad Urban Development Authority (Huda) on revenue sharing basis.
The project costing about INR20 billion ($360.51 million) includes an SEZ for IT companies, offices and residential space in 400 acres close to the Outer Ring Road (ORR).
The project is also about five kilometres from Hitec city and Financial District at Gachibowli. As per the original proposal 30 million built up area was to be provided in the township in eight years for Class A commercial, residential, recreational and mixed use. A special purpose vehicle Tellapur Technocity Private Limited was also formed after taking over the land.
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 records 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. 54.34 |
|
|
1 |
Rs. 80.90 |
|
Euro |
1 |
Rs. 70.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.