MIRA
INFORM REPORT
|
Report Date : |
22.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
MARATHON REALTY PRIVATE LIMITED (w.e.f. 18.12.2007) |
|
|
|
|
Formerly Known
As : |
MARATHON REALTY LIMITED |
|
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Registered
Office : |
702, Marathon Max, Mulund Goregaon Link Road, Mumbai-400080,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
23.12.1994 |
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Com. Reg. No.: |
11-084037 |
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Capital
Investment / Paid-up Capital : |
Rs.141.123 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70100MH1994PTC084037 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM3361R |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Construction Activity |
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|
|
No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 13100000 |
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|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The external
borrowing of the company seems to be increasing. Further, the rating also
take into consideration the prevailing slowdown in the construction industry. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company 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.
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
Date: 11.04.2013
CARE has withdrawn the BB rating assigned to
the long term bank facility of Marathon Realty Private Limited aggregating
Rs.2035.400 Millions with immediate effect, as the rated facility was repaid in
full and there is no amount outstanding with respect to the same.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Ritesh Mata |
|
Designation : |
Assistant Finance Manager |
|
Contact No.: |
91-22-25612999 |
|
Date : |
20.11.2013 |
LOCATIONS
|
Registered Office : |
702, Marathon Max, Mulund Goregaon Link Road, Mumbai-400080,
Maharashtra, India |
|
Tel. No.: |
91-22-67248484/8421/67248484/67728450/25612999 |
|
Fax No.: |
91-22-67728405/25646008 |
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E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Chetan Ramniklal Shah |
|
Designation : |
Director |
|
Address : |
Kailash Bunglow, Devidatal Road, Mulund (West), Mumbai – 400080,
Maharashtra, India |
|
Date of Birth/Age : |
13.03.1956 |
|
Date of Appointment : |
23.12.1994 |
|
DIN No.: |
00135296 |
|
PAN No.: |
AAJPS0811J |
|
|
|
|
Name : |
Mr. Mayur Ramniklal Shah |
|
Designation : |
Director |
|
Address : |
Kailash Bunglow, Devidatal Road, Mulund (West), Mumbai – 400080,
Maharashtra, India |
|
Date of Birth/Age : |
13.04.1962 |
|
Date of Appointment : |
23.12.1994 |
|
DIN No.: |
00135504 |
|
PAN No.: |
AAJPS2829Q |
KEY EXECUTIVES
|
Name : |
Mr. Virendra |
|
Designation : |
Secretarial Department |
|
|
|
|
Name : |
Mr. Ritesh Mata |
|
Designation : |
Assistant Finance Manager |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders
(Equity Share) |
|
No. of Shares |
|
Chetan Shah S/o Ramnlklal Shah |
|
130763 |
|
Mayur Shah S/o Ramnlklal Shah |
|
100000 |
|
Ansuya Shah W/o Ramnlklal Shah |
|
100000 |
|
Ramnlklal Shah S/o Zaverchand Shah |
|
313000 |
|
Rita Shah W/o Dhanraj Shah |
|
36000 |
|
Shailaja Shah W/o Chetan Shah |
|
346250 |
|
Sonal Shah W/o Mayur Shah |
|
226000 |
|
Ramnlklal Shah (HUF) |
|
2500 |
|
Mayur Shah {HUF) |
|
72500 |
|
Gargl Chetan Shah D/o Chetan Shah |
|
475000 |
|
Parmeet Mayui Shah S/o Mayur Shah |
|
550000 |
|
Bhaiubhal Shah |
|
10 |
|
Lyoti Shah W/o Kishor Shah |
|
20 |
|
Abhay Tlbrewala |
|
1 |
|
Anandpra Vash Tlbrewala (HUF) |
|
1 |
|
Ashok Tlbrewala (HUF) |
|
1 |
|
Kanhalyala! Tlbrewala (HUF) |
|
1 |
|
Ruchlka Tlbrewala |
|
1 |
|
Vljayaben R. Malde |
|
1 |
|
Nilesh Mulji Dodhla (HUF) |
|
1 |
|
Total |
|
2352050 |
|
Names of
Shareholders (Preference Shares) |
|
No. of Shares |
|
Chetan Shah S/o Ramnlklal Shah |
|
130770 |
|
Mayur Shah S/o Ramnlklal Shah |
|
100000 |
|
Artsuya Shah W/o Ramnlklal Shah |
|
100000 |
|
Ramnlklal Shah S/o Zaverchand Shah |
|
313000 |
|
Rita Shah W/o DhanraJ Shah |
|
36000 |
|
Shallaja Shah W/o Chetan Shah |
|
346250 |
|
Sonal Shah W/o Mayur Shah |
|
226000 |
|
Ramnlklal Shah (HUF] |
|
2500 |
|
Mayur Shah (HUF) |
|
72500 |
|
Gargl Chetan Shah D/o Chetan Shah |
|
475000 |
|
Parmeet Mayur Shah S/o Shrl Mayur Shah |
|
550000 |
|
Bhatuohal Shah |
|
10 |
|
Jyoti Shah W/o Kishor Shah |
|
20 |
|
Total |
|
2352050 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.99 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction Activity |
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Products : |
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Imports : |
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Products : |
Machines and Equipment |
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Countries : |
·
Malaysia ·
Korea ·
China |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
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No. of Employees : |
700 (Approximately) |
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Bankers : |
· HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India · Axis Bank Limited, Dhiraj Baug, L.B.S. Marg, Near hariniwas Circle, Thane (West), Mumbai City - 400062, Maharashtra, India · IDBI Bank Limited · State Bank of India · Andhra Bank ·
ICICI Bank Limited ·
Standard Chartered Bank ·
Kotak Mahindra Prime Limited ·
State Bank of Hyderabad ·
State Bank of Patiala ·
State Bank of Mysore |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Thacker Butala and Associates Chartered Accountants |
|
Address : |
2nd Floor, Ismile Building, 381, D N Road, Mumbai – 400001, Maharashtra, India |
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PAN No.: |
AAAFT2158F |
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Subsidiaries : |
· Sanvo Resort Private Limited · Parmeka Private Limited · Matrix Waste Management Private Limited ·
Marathon IT Infrastructure Private Limited |
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Associates : |
·
Citadel Realty and Developers Limited ·
Cornell Housing and Infrastructure
Private Limited ·
Fibre Box Bombay Private Limited ·
Marathon Energen LLP ·
Marathon Fiscal Private Limited ·
Marathon Nextgen Realty Limited ·
Marathon Prachin Infra Private
Limited ·
Marathon Securities and Properties Private Limited ·
Matrix Architects and Engineers ·
Matrix Enclaves Projects Developments
Private Limited ·
Matrix Water Management Private
Limited ·
Nextgen City Container Depot Private
Limited ·
Nextgen City Energy Private Limited ·
Nextgen Green Housing and Comm. Encl.
Private Limited ·
Nexzone Land Private Limited ·
Nexzone Utilities Private Limited ·
Sonasha Enterprises ·
United Builders ·
United Enterprises ·
Vinotak Investment Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3100000 |
Equity Shares |
Rs.10/- each |
Rs.31.000 Millions |
|
2400000 |
0% Non-cumulative Preference Shares |
Rs.50/- each |
Rs.120.000 Millions |
|
100000 |
11% Cumulative Redeemable Cumulative Preference Shares |
Rs.100/-each |
Rs.10.000 Millions |
|
|
Total |
|
Rs.161.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2352050 |
Equity Shares |
Rs.10/- each |
Rs.23.521
Millions |
|
2352050 |
0% Non-cumulative Preference Shares |
Rs.50/- each |
Rs.117.602 Millions |
|
|
Total |
|
Rs.141.123 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
141.123 |
141.123 |
141.123 |
|
(b) Reserves & Surplus |
3134.260 |
3043.162 |
2987.337 |
|
(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) |
3275.383 |
3184.285 |
3128.460 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5366.815 |
708.175 |
2954.027 |
|
(b) Deferred tax liabilities (Net) |
1.758 |
(20.397) |
1.995 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
5368.573 |
687.778 |
2956.022 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3201.819 |
2685.087 |
2532.862 |
|
(b) Trade payables |
1411.841 |
181.409 |
204.408 |
|
(c) Other current
liabilities |
1271.132 |
5221.554 |
2505.153 |
|
(d) Short-term provisions |
4.537 |
10.263 |
22.135 |
|
Total Current Liabilities (4) |
5889.329 |
8098.313 |
5264.558 |
|
|
|
|
|
|
TOTAL |
14533.285 |
11970.376 |
11349.040 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
418.634 |
425.604 |
354.208 |
|
(ii) Intangible Assets |
0.674 |
1.123 |
1.871 |
|
(iii) Capital
work-in-progress |
0.046 |
5.549 |
65.859 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3172.763 |
2357.287 |
1990.552 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
42.203 |
48.495 |
285.200 |
|
(e) Other Non-current assets |
0.000 |
8.604 |
30.800 |
|
Total Non-Current Assets |
3634.320 |
2846.662 |
2728.490 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
400.000 |
0.000 |
302.250 |
|
(b) Inventories |
7214.259 |
6541.995 |
5350.087 |
|
(c) Trade receivables |
498.465 |
262.017 |
251.433 |
|
(d) Cash and cash equivalents |
645.767 |
171.282 |
94.478 |
|
(e) Short-term loans and
advances |
2140.474 |
2148.420 |
2622.302 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
10898.965 |
9123.714 |
8620.550 |
|
|
|
|
|
|
TOTAL |
14533.285 |
11970.376 |
11349.040 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1511.108 |
931.906 |
434.369 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
181.625 |
77.784 |
75.322 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
40.987 |
42.574 |
23.667 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
140.638 |
37.210 |
51.655 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
49.540 |
21.614 |
13.879 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
91.098 |
58.824 |
37.776 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.37 |
12.50 |
8.03 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
9.31 |
3.99 |
11.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.24 |
0.39 |
0.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.01 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.62 |
1.07 |
1.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.85 |
1.13 |
1.64 |
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 |
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans repayable on demand from others |
3178.198 |
2685.087 |
|
Loans and advances from related parties |
23.621 |
0.000 |
|
Total |
3201.819 |
2685.087 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debt |
644.725 |
3873.538 |
NA |
|
Total |
644.725 |
3873.538 |
NA |
FUTURE OUTLOOK
With ambitious and cautious plans the Company expects to rise to the position in the elite league of developers. Economies of scale, world class quality construction, identification of market needs and best of marketing efforts will add further to the bottom line. The Company with its sustained and consistent efforts will achieve its targets well before deadline.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10455186 |
03/09/2013 |
2,250,000.00 |
HDFC BANK LIMITED |
HDFC Bank House Senapati Bapat
Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
B87599080 |
|
2 |
10438130 |
15/07/2013 |
500,000,000.00 |
ICICI HOME FINANCE COMPANY
LIMITED |
ICICI Bank Towers,
Bandra-Kurla, Complex, Mumbai, Maharashtra - 400051, INDIA |
B80162373 |
|
3 |
10436471 |
27/06/2013 |
300,000,000.00 |
CAPITAL FIRST LIMITED |
15th Floor, Tower -2,
Indiabulls Finance Centre, |
B79443172 |
|
4 |
10415094 |
25/03/2013 |
900,000,000.00 |
CAPITAL FIRST LIMITED |
15th Floor, Tower -2,
Indiabulls Finance Centre, |
B71818801 |
|
5 |
10420539 |
19/03/2013 |
1,000,000,000.00 |
IL AND FS TRUST COMPANY LIMITED
|
IL and FS Financial Centre
Plot No C22 G Block Bandra, Kurla Complex Bandra East, Mumbai, Maharashtra -
400051, India |
B72631849 |
|
6 |
10406181 |
14/02/2013 |
3,520,000.00 |
HDFC BANK LIMITED |
HDFC Bank House Senapati Bapat
Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
B68689165 |
|
7 |
10400541 |
04/01/2013 |
900,000,000.00 |
IL AND FS TRUST COMPANY
LIMITED |
IL and FS FINANCIAL CENTRE PLOT
NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra |
B67067397 |
|
8 |
10390631 |
04/12/2012 |
2,190,000.00 |
HDFC BANK LIMITED |
HDFC Bank House Senapati Bapat
Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
B63597447 |
|
9 |
10388962 |
21/11/2012 * |
630,000,000.00 |
IL AND FS TRUST COMPANY
LIMITED |
IL and FS FINANCIAL CENTRE PLOT
NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra |
B64361074 |
|
10 |
10387894 |
28/09/2012 |
12,200,000.00 |
HDFC BANK LIMITED |
HDFC Bank House Senapati Bapat
Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
B62527155 |
|
11 |
10364560 |
17/09/2013 * |
2,000,000,000.00 |
HOUSING DEVELOPMENT FINANCE
CORPORATION LIMITED |
RAMON HOUSE 169 BACKBAY RECLAMATION,
H T PAREKH MARG, MUMBAI, Maharashtra - 400020, INDIA |
B85484194 |
|
12 |
10323066 |
10/08/2011 |
1,000,000,000.00 |
ICICI HOME FINANCE COMPANY
LIMITED |
ICICI Bank Towers,
Bandra-Kurla, Complex, Mumbai, Maharashtra - 400051, INDIA |
B23254063 |
|
13 |
10309288 |
10/08/2011 |
1,000,000,000.00 |
ICICI HOME FINANCE COMPANY
LIMITED |
ICICI Bank Towers,
Bandra-Kurla, Complex,, Mumbai, Maharashtra - 400051, INDIA |
B22165864 |
|
14 |
10273052 |
04/02/2011 |
350,000,000.00 |
STANDARD CHARTERED BANK |
SME Credit, 23-25, M G Road,
Fort, Mumbai, Maharashtra - 400001, INDIA |
B07322662 |
|
15 |
10194954 |
08/12/2009 |
17,461,440.00 |
HDFC BANK LIMITED |
HDFC Bank House Senapati Bapat
Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
A76832062 |
|
16 |
90214078 |
31/03/2004 |
1,000,000.00 |
HOUSING DEVELOPMENT FINANACE
CORPORATION LIMITED |
RAMON HOUSE; H.T PARAKH MARG.,
169; BACAKBAY RAECLAMATION; CHURCHGATE, MUMBAI, Maharashtra - 400020, INDIA |
- |
|
17 |
90211112 |
08/09/2004 * |
25,000,000.00 |
UTI BANK LIMITED |
GROUND FLOOR; SAKAR-1; OPP.
ASHRAM ROAD, AHENDABAD, Gujarat - 380009, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.89 |
|
|
1 |
Rs.101.14 |
|
Euro |
1 |
Rs.84.42 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.