|
Report Date : |
14.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
FLEMINGO DUTYFREE SHOP PRIVATE LIMITED
|
|
|
|
|
Registered
Office : |
D-73/1, TTC Industrial Area, MIDC Turbhe, Navi Mumbai - 400705,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.03.2004 |
|
|
|
|
Com. Reg. No.: |
11-144881 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.507 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2004PTC144881 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF7909E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is
in the business of duty free sale of goods including operating Dutyfree shops
at various Airports, Sea ports, International borders, In-flight duty free,
Downtown diplomatic shops, UN Commissary shops etc. |
|
|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Profit and Sales Turnover of the company appears to be decent. Net
Worth of the company seems to be sound and healthy. Trade relations are reported to be fair. Business is active. Payment
terms are regular. 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.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Fund based Limits: BBB |
|
Rating Explanation |
Moderate degree of safety and low credit
risk. |
|
Date |
October, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Fund based:A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
October, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
MANAGEMENT NON CO-OPERATIVE
Contact No.:
91-22-66269999
LOCATIONS
|
Registered Office : |
D-73/1 TTC Industrial Area, MIDC, Turbhe, Navi Mumbai – 400705, Maharashtra, India |
|
Tel. No.: |
91-22-27619126/ 27672719-20/ 66269999 |
|
Fax No.: |
91-22-27630624/ 27672718 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Admin Office : |
Old No. 16A, New No. 35, 1st Floor KV Apartments Poes, Chennai -
600086, Tamilnadu, India |
|
Tel. No.: |
91-44-43144736 |
|
Fax No.: |
91-44-24992412 |
|
|
|
|
Airports : |
Located at: Ø
Ahmedabad Ø
Amritsar Ø
Calicut Ø
Chennai Ø
Goa Ø
Lucknow Ø
Kolkata Ø
Jaipur Ø
Mangalore Ø
Pune Ø
Trichy Ø
Trivandrum |
|
|
|
|
Sea Ports : |
Located at: Ø Chennai Ø Goa Ø Haldia Ø Mangalore Ø Mumbai Ø Mundra Ø Paradip Ø Vizag |
DIRECTORS
AS ON 27.08.2013
|
Name : |
Mr. Rasiklala Rattilal Thakker |
|
Designation : |
Director |
|
Address : |
P O Box No. 61239, Jebel Ali Free Zone, Dubai - 61239, United Arab Emirates |
|
Date of Birth/Age : |
13.03.1954 |
|
Date of Appointment : |
05.03.2004 |
|
DIN No.: |
00539051 |
|
|
|
|
Name : |
Mr. Mahandra Kumar Parashothamdas Thakar |
|
Designation : |
Director |
|
Address : |
P O Box No. 61239, Jebel Ali Free Zone, Dubai - 61239, United Arab Emirates |
|
Date of Birth/Age : |
20.02.1952 |
|
Date of Appointment : |
05.03.2004 |
|
DIN No.: |
00547983 |
|
|
|
|
Name : |
Mr. Viren Vini Ahuja |
|
Designation : |
Director |
|
Address : |
Bungalow No. 1, Neelkanth Theerth, Road No-6, Chembur, Mumbai – 400088, Maharashtra, India |
|
Date of Birth/Age : |
21.08.1964 |
|
Date of Appointment : |
05.03.2004 |
|
DIN No.: |
00016317 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Viren Vini Ahuja |
|
5000 |
|
Arjun A. Ahuja |
|
2500 |
|
Karan A. Ahuja |
|
2500 |
|
Flemingo International (BVI) Limited, Islands |
|
40566 |
|
Symbolic Infra Projects Private Limited, India |
|
150 |
|
|
|
|
|
Total |
|
50716 |
AS ON 30.09.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
79.98 |
|
Bodies
corporate |
0.30 |
|
Directors
or relatives of directors |
19.72 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is
in the business of duty free sale of goods including operating Dutyfree shops
at various Airports, Sea ports, International borders, In-flight duty free, Downtown
diplomatic shops, UN Commissary shops etc. |
GENERAL INFORMATION
|
No. of Employees : |
350 (Approximately) |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Bankers : |
· Yes Bank Limited 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai- 400018, Maharashtra, India [Tel No.: 91-22-66699000] · The Federal Bank Limited 51 Apsara Apartments, Sector 17, Vashi - Navi Mumbai, Mumbai - 400702, Maharashtra, India [Tel No.: 91-22-24899656] · Dhanlaxmi Bank Limited Janmabhoomi Bhavan, Janmabhoomi Marg, Fort, Mumbai – 400001, Maharashtra, India [Tel No.: 91-22-22022943] · Bank of India Mumbai MID Corporate Branch, BOI Building, 70/80, M G Road, Fort, Mumbai – 400001, Maharashtra, India |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Uberoi Sood and Kapoor Chartered Accountants |
|
Address : |
606, Vishal Bhavan, 95-Nehru Place, New Delhi-110019,
India |
|
PAN No.: |
AAASU1674L |
|
|
|
|
Holding Company: |
· Flemingo International (BVI) Limited, Virgin Islands, British (Holding 45.05%
Equity Shares in the company till 13 September 2012. Its holding has
increased to 79.99% w.e.f. 14 September 2012) |
|
|
|
|
Ultimate Holding
Company: |
·
Sapphaire International Limited, BVI |
|
|
|
|
Subsidiaries and
step down Subsidiaries : |
· Flemingo (DFS) Private Limited, India · Flemingo International Limited, BVI - Dubai · Iris Ekspree Gumruksuz Satis Magazalari Ticaret A. S., Turkey · Dutyfree Distribution Services Private Limited · Mundi Trading Lda, Cape Verde · Flemingo Middle East Limited, U.A.E. · Flemingo International DRC SPRL, DRC · Flemingo International Limited, MALAWI · Flemingo International (Liberia), Limited · Bilsan Pazarlama Ve Dagitim Ticarel Anonim Sirketi - Turkey · Flemingo Bangladesh Limited · Flemingo International (Bangladesh) Limited · Alpha and Omega Limited, malawi · Supply Centre FZE · Flemingo International LDA, Guinea Bissau · F I (Gambia) Limited · Flemingo International FZE, (Djibouti) · Flemingo Duty Free Shops International SA (PTY) Limited, South Africa · DFS Flemingo SA (Propriety) Limited · International Brands Private Limited, Maldives · International Limited, Togo Sarl · DRC Duty Free International Sprl · Flemingo International (Pty) Limited, Botswana · Flemingo Duty Free Shop Limited, Nigeria · DUTY free Shop Limited, Zimbabwe · Flemingo International Bvi Sarl -DRC · Flemingo Ics Botswana (Pty) Limited · Flemingo International Limited - Laos PDR · Flemingo International Limited - Senegal SURL · F I Mozambique Limitada Mozambique · Flemingo International (South Sudan) Limited · Flemingo Duty Free (Private) Limited, Srilanka · Flemingo Lanka (Private) Limited, Srilanka · National Security Forces Holdings Limited, Uganda · Flemingo Duty Free (Mauritius) Limited · Flemingo Mscl Duty Free Limited · Flemingo Duty Free Services Limited · General Distribution Ocean Indien LTEE · Flemingo Distribution Limited · Ashod Holdings Limited, Cyprus · P.H.Z Baltona S.A · Baldemar Holdings · Centrum Obslugi and Operacyjnej SP.Z.O.O · Efektywne Centrum Operacyjnej SP. Z.O.O · Baltona Shipchandlers SP.Z O.O · Centrum Uslug Wspolnych Baltona SP.Z O.O · S.C Gredy S.R.L · Baltona France S.A.S · Magna Project SP.Z.O.O · Big Venture SP.Z.O.O · BH Travel Retail Poland SP.Z O.O · Phoenix Duty Free LLC Georgia · Flemingo Duty Free LLC Ukraine |
|
|
|
|
Enterprises over
which key management
personnel or their relatives exercise significant influence: |
· Flemingo Jewellery India Private Limited · Bermaco Energy Systems Limited · Bermaco Industries Limited · Dutyfree Distribution Services Private Limited · Flemingo Liners Private Limited · Bermaco Petroleum Industries · Smarniya Properties Private Limited · Chistiya Containers Private Limited. · Spare Support Solutions Private Limited · PTC Bermaco Green Energy Systems Limited · Airspace Infrastructure Private Limited · Venus Design · Flemingo Retail Private Limited |
CAPITAL STRUCTURE
(AS ON 31.03.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
4000000 |
Preference Shares |
Rs.100/- each |
Rs.400.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.500.000
Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50715 |
Equity Shares |
Rs.10/- each |
Rs.0.507
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.507 |
400.333 |
400.333 |
|
(b) Reserves & Surplus |
2186.995 |
960.973 |
951.910 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2187.502 |
1361.306 |
1352.243 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
115.162 |
169.250 |
7.862 |
|
(b) Deferred tax liabilities (Net) |
9.507 |
8.659 |
7.115 |
|
(c) Other long term
liabilities |
78.599 |
118.656 |
107.304 |
|
(d) long-term
provisions |
3.934 |
2.361 |
2.205 |
|
Total Non-current Liabilities
(3) |
207.202 |
298.926 |
124.486 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
113.562 |
693.587 |
700.368 |
|
(b) Trade
payables |
809.750 |
674.845 |
260.941 |
|
(c) Other
current liabilities |
189.157 |
248.219 |
229.678 |
|
(d) Short-term
provisions |
98.050 |
4.084 |
29.158 |
|
Total Current
Liabilities (4) |
1210.519 |
1620.735 |
1220.145 |
|
|
|
|
|
|
TOTAL |
3605.223 |
3280.967 |
2696.874 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
153.013 |
158.012 |
151.207 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
2.960 |
1.536 |
1.746 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1745.557 |
1624.313 |
1490.807 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
260.287 |
10.477 |
52.618 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2161.817 |
1794.338 |
1696.378 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
14.000 |
13.224 |
55.529 |
|
(b)
Inventories |
386.580 |
368.711 |
444.849 |
|
(c) Trade
receivables |
86.110 |
106.492 |
18.301 |
|
(d) Cash
and cash equivalents |
327.188 |
372.488 |
287.308 |
|
(e) Short-term
loans and advances |
629.528 |
625.714 |
194.510 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1443.406 |
1486.629 |
1000.497 |
|
|
|
|
|
|
TOTAL |
3605.223 |
3280.967 |
2696.874 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3184.691 |
1989.083 |
1601.833 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
425.920 |
27.678 |
259.267 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
149.925 |
18.615 |
54.103 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
275.995 |
9.063 |
205.164 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
749.496 |
740.433 |
535.269 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1025.491 |
749.496 |
740.433 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2983.946 |
1753.860 |
1325.959 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
885.230 |
355.167 |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6,512 |
272 |
8,089 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
13.37
|
1.39 |
16.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.94
|
1.67
|
21.53
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.02
|
0.19
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.10
|
0.63
|
0.52
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19
|
0.92
|
0.82
|
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
(Rs.
In Millions)
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long Term Debt |
54.298 |
55.646 |
4.537 |
|
|
|
|
|
|
Total |
54.298 |
55.646 |
4.537 |
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
|
Particulars |
Rs. In Millions 31.03.2013 |
Rs. In Millions 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
Other Loans and Advances |
2.828 |
7.250 |
|
|
|
|
|
Short term
Borrowings |
|
|
|
Loans and Advances from Others |
2.702 |
241.285 |
|
|
|
|
|
Total |
5.530 |
248.535 |
REVIEW OF
OPERATIONS
During the year, the Company had achieved sales of Rs.3184.691 Millions as
against Rs.1989.083 Millions in the previous year. The net profit for the year
was Rs.275.995 Millions as against Rs.9.063 Millions during the previous
financial year. The directors are continuously looking for avenues for future
growth of the Company.
GENERAL
INFORMATION
The company is a
company, with its registered office at D-73/1, TTC Industrial Area, MIDC,
Turbhe, Navi Mumbai – 400705. The Company is in the business of duty free sale
of goods including operating Dutyfree shops at various Airports, Sea ports,
International borders, In-flight duty free, Downtown diplomatic shops, UN
Commissary shops etc.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10452227 |
26/08/2013 |
600,000,000.00 |
BANK OF INDIA |
MUMBAI
MIDCORPORATE BRANCH, BOI BLDGS 70/80,MG RO |
B86324134 |
|
2 |
10324168 |
01/08/2013 * |
350,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,, DR. |
B83138974 |
|
3 |
10311817 |
16/04/2012 * |
950,000,000.00 |
The Federal Bank
Limited |
51, APASARA APARTMENTS,
SECTOR 17,, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA |
B40002883 |
|
4 |
10265343 |
24/12/2010 |
550,000,000.00 |
STATE BANK OF
INDIA |
SME BACKBAY
RECLAMATION BRANCH, RAHEJA CHAMBER, N |
B04596201 |
|
5 |
10175141 |
05/08/2009 |
550,000,000.00 |
THE FEDERAL BANK
LIMITED |
51 APSARA
APARTMENTS, SECTOR 17, VASHI - NAVI MUMBAI, MUMBAI, MAHARASHTRA - 400702,
INDIA |
A68952241 |
|
6 |
10175142 |
05/08/2009 |
550,000,000.00 |
THE FEDERAL BANK
LIMITED |
51 APSARA
APARTMENTS, SECTOR 17, VASHI - NAVI MUMBAI, MUMBAI, MAHARASHTRA - 400702,
INDIA |
A68952316 |
|
7 |
10169616 |
17/06/2009 |
150,000,000.00 |
THE FEDERAL BANK
LIMITED |
VASHI BRANCH,
51, APSARA APARTMENTS, SECTOR 17, |
A66591892 |
|
8 |
10169430 |
17/06/2009 |
250,000,000.00 |
THE FEDERAL BANK
LIMITED |
51 APSARA
APARTMENTS, SECTOR 17,, VASHI NAVI MUMBAI, MUMBAI, MAHARASHTRA - 400702,
INDIA |
A66593518 |
|
9 |
10174419 |
17/06/2009 |
250,000,000.00 |
THE FEDERAL BANK
LIMITED |
VASHI BRANCH, 51
APSARA APARTMENTS, SECTOR 17, VASHI - NAVI MUMBAI,, MUMBAI, MAHARASHTRA -
400702, INDIA |
A66594185 |
|
10 |
10038573 |
25/06/2007 * |
480,000,000.00 |
THE FEDERAL BANK
LTD |
51, APSARA
APARTMENT, SECTOR 17, VASHI, NAVIMUMBAI, MAHARASHTRA - 400703, INDIA |
A20588356 |
* Date of charge modification
FIXED ASSETS
· Building
· Furniture and Fixture
· Air conditioner
· Computer
· Bar code scanner and printer
· Fire Extinguisher
· Mobile Phone
· Vehicles
· Fax Machines
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.63.65 |
|
UK Pound |
1 |
Rs.101.17 |
|
Euro |
1 |
Rs.85.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
49 |
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.