MIRA
INFORM REPORT
|
Report Date : |
26.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
DLF BRANDS LIMITED |
|
|
|
|
Formerly Known
As : |
DLF BRANDS PRIVATE LIMITED [w.e.f. 06.04.2009] |
|
|
|
|
Registered
Office : |
1E, Jhandewalan Extension, Naaz Cinema Complex, New Delhi – 110055 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
10.03.2006 |
|
|
|
|
Com. Reg. No.: |
55-147368 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.1100.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45201DL2006PLC147368 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELD10361B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCA7971E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in the business of retail trading of foreign lifestyle brands. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1900000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of DLF Limited India. It is an established company having a moderate track record. There appears huge accumulated losses recorded by the company during
the financial year 2012. However, trade relations are fair. Business is active. Payment terms
are reported to be slow. In view of strong promoters, the company can be considered for business
dealings with some caution. Note: Latest financials for the year 2013, is not available with us. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
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.
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 : |
1-E, Jhandewalan Extension, Naaz Cinema Complex, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
DLF City Phase III, 15th Floor, Tower A, Building No. 5,
DLF Cyber Terraces, Gurgaon - 122202, Haryana, India |
|
Tel. No.: |
91-124-4855800 |
DIRECTORS
As on: 30.09.2013
|
Name : |
Pia Singh |
|
Designation : |
Director |
|
Address : |
14, |
|
Date of Birth : |
26.12.1970 |
|
Date of Appointment : |
29.09.2009 |
|
DIN No.: |
00067233 |
|
|
|
|
Name : |
Mr. Lovekush Sharma |
|
Designation : |
Managing Director |
|
Address : |
C – 238A, |
|
Date of Birth : |
09.03.1965 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
00003395 |
|
|
|
|
Name : |
Mr. Sunil Kumar Pandey |
|
Designation : |
Director |
|
Address : |
1167, Sector – 21, Gurgaon – 122016, |
|
Date of Birth : |
29.05.1970 |
|
Date of Appointment : |
10.03.2006 |
|
DIN No.: |
00003371 |
|
|
|
|
Name : |
Mr. Dhiraj Sarna |
|
Designation : |
Managing Director |
|
Address : |
D – 1001, New Friends Colony, New Delhi - 110065, India |
|
Date of Birth : |
07.08.1966 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
01039973 |
KEY EXECUTIVES
|
Name : |
Mr. Neeraj Parmar |
|
Designation : |
Secretary |
|
Address : |
B – 11 / 63, Sector – 18, Rohini, |
|
Date of Birth : |
01.10.1971 |
|
Date of Appointment : |
06.02.2009 |
|
PAN No.: |
ADDPP2926L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
DLF Limited, India |
|
7999994 |
|
Sanjay Goenka Jointly with DLF Limited |
|
1 |
|
Shiv K.R. Gupta Jointly with DLF Limited |
|
1 |
|
Manik Khanna Jointly with DLF Limited |
|
1 |
|
Adesh Gupta Jointly with DLF Limited |
|
1 |
|
Gopal Ramdev Jointly with DLF Limited |
|
1 |
|
Ankur Jain Jointly with DLF Limited |
|
1 |
|
Prem Traders LLP, India |
|
34000000 |
|
Centre Point Management Services Limited, India |
|
26000000 |
|
Super Mart Two Property Management Services Limited, India |
|
61000000 |
|
Dhiraj Sarna |
|
14850000 |
|
Pia Singh |
|
5000000 |
|
Total
|
|
148850000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
87.00 |
|
Directors or relatives of Directors |
13.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of retail trading of foreign lifestyle brands. |
|
|
|
|
Brand Names : |
· Ave.neu · Clarie’s · Puma |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai - 400021, Maharashtra, India · Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Walker, Chandiok and Company Chartered Accountants |
|
Address : |
41-L, Connaught Circus, Delhi – 110001, India |
|
PAN No.: |
AAAFW3298E |
|
|
|
|
Subsidiary company: |
· Carreen Builders and Developers Private Limited CIN No.: U45400DL2007PTC165429 · DLF Limited CIN No.: L70101HR1963PLC002484 · Enki Retail Solutions Private Limited CIN No.: U45400DL2007PTC161485 · Eros Retail Private Limited CIN No.: U45209DL2007PTC161768 · Juno Retail Private Limited CIN No.: U45400DL2007PTC161528 · Kapo Retail Private Limited CIN No.: U70102DL2007PTC161521 · Rhea Retail Private Limited CIN No.: U45209DL2007PTC161760 · Rod Retail Private Limited CIN No.: U45400DL2007PTC162328 |
|
|
|
|
Other Related Parties: |
· Giorgio Armani India Private Limited CIN No.: U27310DL2008PTC179369 · Jhandewalan Ancillaries Private Limited CIN No.: U74900DL1973PTC006832 · Prem Traders Private Limited CIN No.: U74120DL1967PTC004795 · Centre Point Prperty Management Services Private Limited CIN No.: U45201DL1999PTC174740 · Super Mart Two Prperty Management Services Private Limited CIN No.: U74920DL1999PTC175236 · Ferragamo Retail India Private Limited CIN No.: U45201DL2006PTC147579 · Giorgio Armani India Private Limited CIN No.: U27310DL2008PTC179369 |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs.10/- each |
Rs.1500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
148850000 |
Equity Shares |
Rs.10/- each |
Rs.1488.500
Millions |
|
|
|
|
|
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs.10/- each |
Rs.1500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110000000 |
Equity Shares |
Rs.10/- each |
Rs.1100.000 Millions
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
1100.000 |
1000.000 |
|
(b) Reserves & Surplus |
|
(764.975) |
(528.315) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
150.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
485.025 |
471.685 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
243.042 |
145.833 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
7.141 |
2.173 |
|
Total Non-current Liabilities (3) |
|
250.183 |
148.006 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
601.557 |
437.138 |
|
(b) Trade payables |
|
140.824 |
90.230 |
|
(c) Other current
liabilities |
|
175.247 |
115.032 |
|
(d) Short-term provisions |
|
0.178 |
0.303 |
|
Total Current Liabilities (4) |
|
917.806 |
642.703 |
|
|
|
|
|
|
TOTAL |
|
1653.014 |
1262.394 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
140.397 |
83.055 |
|
(ii) Intangible Assets |
|
40.268 |
31.353 |
|
(iii) Capital
work-in-progress |
|
35.382 |
37.024 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
637.257 |
345.882 |
|
(c) Deferred tax assets (net) |
|
9.903 |
9.903 |
|
(d) Long-term Loan and Advances |
|
266.165 |
127.906 |
|
(e) Other Non-current assets |
|
2.939 |
0.750 |
|
Total Non-Current Assets |
|
1132.311 |
635.873 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
244.718 |
165.686 |
|
(c) Trade receivables |
|
24.592 |
89.602 |
|
(d) Cash and cash
equivalents |
|
8.698 |
11.863 |
|
(e) Short-term loans and
advances |
|
210.736 |
323.097 |
|
(f) Other current assets |
|
31.959 |
36.273 |
|
Total Current Assets |
|
520.703 |
626.521 |
|
|
|
|
|
|
TOTAL |
|
1653.014 |
1262.394 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
80.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(242.899) |
|
|
NETWORTH |
|
|
(162.899) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
67.758 |
|
|
2] Unsecured Loans |
|
|
1056.448 |
|
|
TOTAL BORROWING |
|
|
1124.206 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
961.307 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
95.967 |
|
|
Capital work-in-progress |
|
|
36.014 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
251.250 |
|
|
DEFERREX TAX ASSETS |
|
|
35.722 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
93.065 |
|
|
Sundry Debtors |
|
|
10.403 |
|
|
Cash & Bank Balances |
|
|
3.720 |
|
|
Other Current Assets |
|
|
35.149 |
|
|
Loans & Advances |
|
|
543.844 |
|
Total
Current Assets |
|
|
686.181 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
9.467 |
|
|
Other Current Liabilities |
|
|
132.695 |
|
|
Provisions |
|
|
1.665 |
|
Total
Current Liabilities |
|
|
143.827 |
|
|
Net Current Assets |
|
|
542.354 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
961.307 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
369.823 |
328.966 |
113.839 |
|
|
|
Other Income |
34.447 |
83.958 |
71.334 |
|
|
|
TOTAL (A) |
404.270 |
412.924 |
185.173 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
254.934 |
|
285.879 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(54.443) |
(91.146) |
|
|
|
|
Employee benefit expense |
89.366 |
57.489 |
|
|
|
|
Other expenses |
205.328 |
332.450 |
|
|
|
|
TOTAL (B) |
495.185 |
570.512 |
285.879 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(90.915) |
(157.588) |
(100.706) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
119.626 |
83.645 |
55.701 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(210.541) |
(241.233) |
(156.407) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
26.119 |
18.364 |
14.378 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(236.660) |
(259.597) |
(170.785) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
25.819 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(236.660) |
(285.416) |
(170.785) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(528.315) |
(242.899) |
(74.254) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(764.975) |
(528.315) |
(242.899) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(2.35) |
(6.16) |
21.08 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(58.54)
|
(69.12) |
(92.23) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(63.99)
|
(78.91) |
(150.02) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(24.39)
|
(29.85) |
(21.84) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.49)
|
(0.55) |
(1.05) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.74
|
1.24 |
(6.90) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.57
|
0.97 |
4.77 |
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 |
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 |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Loans repayable on demand from others |
300.083 |
255.880 |
|
Total |
300.083 |
255.880 |
OPERATION:
The Company business has grown in the last year in size and scale and has taken steps to concentrate on its growth plan. The Company has opened total 21 (Twenty Two) exclusive brand retail stores (EBO) and (One) Multibrand Retail Stores under the Brand Name Ave.neu, During the year the Company has opened 6 new stores in Alcott, 1 in Ave.neu, 4 in Clarie’s, 2 in DKNY Acc, 1 in DKNY RTW, 4 in Mango and 4 under the brand name ‘Puma’. Currently, the Company has total 46 retail stores.
During the year, the Company has launched new retail stores under multiband concept of Ave.neu. The Ave.neu was awarded with the Best Launch of the year award by India Retail Forum 2012.
The Company has also realized the potential of town/cities in B and C Class and is doing expansion in these cities through Ave.neu (MBO).
The Company is continuing with expansion strategy in all major malls in Big Cities of the Country through MBO.
The Board has made strategies and is taking concrete steps to develop the business of the Company in the coming years. During the year, the Company income is Rs. 404.270 Millions as compared to Rs.412.92 Millions in previous year and incurred a loss of Rs. 236.660 Millions as compared to loss of Rs. 285.416 Millions in the previous year.
After optimization of volumes and margins, your Company has the potential to become a more profitable business in the years to come.
BACKGROUND AND
OPERATIONS
DLF Brands Limited was originally incorporated as Alton Builders and Developers Private Limited on 10 March 2006. The fresh certificate of incorporation pursuant to change of name from Alton Builders and Developers Private Limited to DLF Retail Brands Private Limited and from DLF Retail Brands Private Limited to DLF Brands Private Limited was granted by Registrar of Companies, NCT of Delhi and Haryana on 20 December 2007 and 31 March 2009 respectively.
Fresh certificate of incorporation consequent upon change of name on conversion of private limited Company to public limited Company has been granted on 26 April 2009 by Registrar of Companies, NCT of Delhi and Haryana, subsequent to which name has been changed from DLF Brands Private Limited to DLF Brands Limited.
The Company is engaged in the business of retail trading of foreign lifestyle brands in India vide business arrangements with various foreign luxury and premium brands. The Company is currently operating through various retail stores in India.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10315326 |
05/12/2012 * |
308,700,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B65370132 |
|
2 |
10204187 |
10/03/2012 * |
600,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B35846658 |
* Date of charge modification
FIXED ASSETS:
- Leasehold
Improvements
- Computer
- Office
Equipment
- Software
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.62.58 |
|
|
1 |
Rs.101.42 |
|
Euro |
1 |
Rs.84.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
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 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
26 |
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.