MIRA INFORM REPORT
|
Report Date : |
14.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
MARVEL PROMOTERS AND DEVELOPERS (PUNE) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A 10, Flat No.
1, Meera Nagar, Koregaon Park, Pune – 411001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
11.07.2007 |
|
|
|
|
Com. Reg. No.: |
11-130439 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.101
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200PN2007PTC130439 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEM12267D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Builders and Property Developers. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of ‘Marvel Group’. It is an established company having a moderate track record. The
company is in the process of completing various projects. There appear huge external borrowings recorded by the company. The company
has achieved better growth in its total income during 2012. However it has
incurred a loss during the year. The rating also take into consideration the
wiped off accumulated losses during the year under review. Trade relations
are reported to be fair. Business is active. Payments are slow. The company can be considered for business dealings on a safe and
secured trade terms and condition. |
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Fund Based Bank Facilities = BB+
(Withdrawn) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
June 2013 |
Note: The rating have been withdrawn as the company
has fully repaid the instrument on maturity.
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 DENIED BY
|
Name : |
Mr. Bhushan Bharamke |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-20-66878800 |
|
Date : |
11.10.2013 |
LOCATIONS
|
Registered Office : |
A 10, Flat No.
1, Meera Nagar, Koregaon Park, Pune – 411001, Maharashtra, India |
|
Tel. No.: |
91-20-66878800 |
|
Mobile No.: |
91-9326565695 (Mr. Bhushan Bharamke) |
|
Fax No.: |
91-20-66201389 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
301-302 Jewel Tower, Lane No. 5, Koregaon Park, Pune – 411001,
Maharashtra, India |
|
Tel. No.: |
91-20-66878700/66878800/32900573/26052920/21 |
|
Fax No.: |
91-20-66201389 |
|
E-Mail : |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Vinay Mahavirprasad Chudiwal |
|
Designation : |
Director |
|
Address : |
Flat No. A-204, Sujay Garden, Mukund Nagar, Pune – 411037,
Maharashtra, India |
|
Date of Birth/Age : |
03.03.1971 |
|
Date of Appointment : |
11.07.2007 |
|
DIN No.: |
00158193 |
|
|
|
|
Name : |
Mr. Vishwajeet Subhash Jhavar |
|
Designation : |
Director |
|
Address : |
A 10, Flat No.
1, Meera Nagar, Koregaon Park, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
03.05.1969 |
|
Date of Appointment : |
11.07.2007 |
|
DIN No.: |
00158203 |
|
|
|
|
Name : |
Mr. Mahesh Bansilal Laddha |
|
Designation : |
Director |
|
Address : |
Flat No. 1, Novelty Co-operative Housing Society, Behind Maruti Care
Point, Near Chatursinghi Temple, Pune – 411016, Maharashtra, India |
|
Date of Birth/Age : |
10.08.1965 |
|
Date of Appointment : |
12.07.2007 |
|
DIN No.: |
00158212 |
|
|
|
|
Name : |
Mr. Prithviraj Solanke |
|
Designation : |
Director |
|
Address : |
C/3, Clover Garden, 4 Naylor Road, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
13.09.1979 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
01880078 |
|
|
|
|
Name : |
Mr. Ankush Kamul Seth |
|
Designation : |
Additional director |
|
Address : |
Flat No. 401, P. No. 35, Marvel Creasent SN 221, ABCD Kalyani Nagar,
Pune – 411014, Maharashtra, India |
|
Date of Birth/Age : |
09.12.1970 |
|
Date of Appointment : |
29.08.2011 |
|
DIN No.: |
03596761 |
KEY EXECUTIVES
|
Name : |
Mr. Bhushan Bharamke |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vishwajeet Subhash Jhavar |
|
6100 |
|
Vinay Mahavirprasad Chudiwal |
|
1500 |
|
Veena Vishwajeet Jhavar |
|
400 |
|
Mahesh Bansilal Laddha |
|
1500 |
|
Prithviraj Solanke |
|
500 |
|
Hiranand Dayaram |
|
87 |
|
Purshottamdas Sharma |
|
25 |
|
Manohar Wadhumal Lahori |
|
25 |
|
Total |
|
10137 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Gagan Landmarks Private Limited, India |
|
5 |
|
Rahul Sureshchandra Garg |
|
5 |
|
Total |
|
10 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
1.35 |
|
Bodies corporate |
0.05 |
|
Directors or relatives of Directors |
98.60 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Builders and Property Developers. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
|
|
|
|
|
Auditors : |
|
|
Name : |
BBSR and Company Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castlemaine, Next to Ruby Hall Clinic, Bund
Garden Road, Pune – 411001, Maharashtra, India |
|
Tel. No.: |
91-20-30504000 |
|
Fax No.: |
91-20-30504100 |
|
PAN No.: |
AAKFB4397F |
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Enterprises over which principal shareholders / director exercises
significant influence : |
|
|
|
|
|
Limited Liability Partnership Firms : |
|
CAPITAL STRUCTURE
As on 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.900 Million |
|
10000 |
Preference Shares |
Rs. 10/- each |
Rs. 0.100 Million |
|
|
Total |
|
Rs. 1.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10137 |
Equity Shares |
Rs. 10/- each |
Rs. 0.101 Million |
|
10 |
Preference Shares |
Rs. 10/- each |
Rs. 0.000 Million |
|
|
Total |
|
Rs. 0.101
Million |
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 |
|
0.101 |
0.100 |
|
(b) Reserves & Surplus |
|
11.460 |
(137.180) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
11.561 |
(137.080) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
701.878 |
746.507 |
|
(b) Trade
payables |
|
334.888 |
146.215 |
|
(c) Other
current liabilities |
|
842.272 |
642.319 |
|
(d) Short-term
provisions |
|
176.776 |
0.000 |
|
Total Current
Liabilities (4) |
|
2055.814 |
1535.041 |
|
|
|
|
|
|
TOTAL |
|
2067.375 |
1397.961 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
43.402 |
13.519 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
12.928 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
210.276 |
213.285 |
|
(c) Deferred tax assets (net) |
|
0.260 |
0.128 |
|
(d) Long-term Loan and Advances |
|
0.294 |
0.105 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
267.160 |
227.037 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1066.190 |
697.942 |
|
(c) Trade
receivables |
|
57.937 |
0.000 |
|
(d) Cash
and cash equivalents |
|
5.056 |
2.630 |
|
(e)
Short-term loans and advances |
|
599.150 |
469.357 |
|
(f) Other
current assets |
|
71.882 |
0.995 |
|
Total
Current Assets |
|
1800.215 |
1170.924 |
|
|
|
|
|
|
TOTAL |
|
2067.375 |
1397.961 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(33.686) |
|
|
NETWORTH |
|
|
(33.586) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
200.563 |
|
|
TOTAL BORROWING |
|
|
200.563 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
166.977 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.210 |
|
|
Capital work-in-progress |
|
|
0.158 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.011 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
82.010 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
0.256 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
217.910 |
|
Total
Current Assets |
|
|
300.176 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
20.665 |
|
|
Other Current Liabilities |
|
|
112.913 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
133.578 |
|
|
Net Current Assets |
|
|
166.598 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
166.977 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
709.026 |
11.585 |
0.057 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
717.952 |
61.669 |
9.179 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(8.926) |
(50.084) |
(9.122) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.212 |
51.574 |
20.739 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(21.138) |
(101.658) |
(29.861) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.351 |
1.954 |
0.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(26.489) |
(103.612) |
(29.866) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.131) |
(0.117) |
(0.012) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(26.358) |
(103.495) |
(29.854) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(137.180) |
(33.685) |
(3.831) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(163.538) |
(137.180) |
(33.685) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Material/ Components used in construction |
3.746 |
0.000 |
0.000 |
|
|
|
TOTAL |
3.746 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(2621.00) |
(10349.00) |
(2982.00) |
|
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%20PRIVATE%20LIMITED%20-%20239586%2014-Oct-2013_files/image006.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(3.72)
|
(893.35)
|
(52375.44)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.47)
|
(8.85)
|
(9.94)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
2.29
|
0.76
|
0.89
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
60.71
|
(5.45)
|
(5.97)
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33
|
1.49
|
2.25 |
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 |
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 |
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 LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Debenture 149999 (Previous
Year : Nil) 18% Non convertible debenture of Rs. 100 each |
15.000 |
15.000 |
|
Loan from Director |
115.045 |
458.388 |
|
Loan from associates and subsidiary |
78.068 |
69.070 |
|
Loan from others |
60.480 |
19.998 |
|
Interest accrued and Due on above loans from directors/ associates/
subsidiaries |
42.195 |
52.174 |
|
Total |
310.788 |
614.630 |
NOTE: CURRENT
MATURITY OF LONG TERM BORROWINGS DETAIL NOT AVAILABLE
INDEX OF CHARGE:
|
Sr .No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10433980
|
06/06/2013
|
60,000,000.00
|
L
and T Housing Finance Limited |
Unit No.505 and 506, DLF Tower
B, District Centre, Jasola, New Delhi, Delhi - 110025, INDIA |
B78340577
|
|
2 |
10433982
|
05/06/2013
* |
430,000,000.00
|
L
and T Housing Finance Limited |
Unit No.505 and 506, DLF Tower
B, District Centre, Jasola, New Delhi, Delhi - 110025, INDIA |
B78506565
|
|
3 |
10426670
|
05/04/2013
* |
190,000,000.00
|
IDBI
TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17,
R.Kamani Marg, Ballard Estate, MUMBAI, Maharashtra - 400001, INDIA |
B76923812
|
|
4 |
10426663
|
05/04/2013
* |
680,000,000.00
|
IDBI
TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17,
R.Kamani Marg, Ballard Estate, MUMBAI, Maharashtra - 400001, INDIA |
B76921444
|
|
5 |
10429075
|
05/04/2013
* |
130,000,000.00
|
IDBI
TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17,
R.Kamani Marg, Ballard Estate, MUMBAI, Maharashtra - 400001, INDIA |
B76309228
|
|
6 |
10402619
|
25/01/2013
|
244,800,000.00
|
RELIANCE
CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR,
Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai, Maharashtra - 400710,
INDIA |
B67942854
|
|
7 |
10382900
|
27/09/2012
|
100,000,000.00
|
RELIANCE
CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR,
Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai, Maharashtra -
400710, INDIA |
B60619657
|
|
8 |
10382898
|
27/09/2012
|
200,000,000.00
|
RELIANCE
CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR,
Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai, Maharashtra -
400710, INDIA |
B60617560
|
|
9 |
10334680
|
23/12/2011
|
800,000,000.00
|
HDFC
ASSET MANAGEMENT COMPANY LIMITED |
169, RAMON HOUSE, BACKBAY
RECLAMATION, CHURCHGATE, MUMBAI, Maharashtra - 400020, INDIA |
B31682396
|
|
10 |
10312535
|
28/09/2011
|
3,836,000.00
|
ICICI
BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI,
BARODA, Gujarat - 390015, INDIA |
B23348857
|
* Date of modification charge
BACKGROUND
Subject was incorporated on 11 July 2007 under the Companies Act, 1956.
The Company is developing approximately 2 million square feet of residential space
at Pune, Bangalore and Goa.
OPERATIONS
AND FUTURE PROSPECTS:
The
Company is in the process of completing various projects shortly, and has
reported tremendous growth in all its endeavors. During the financial year; as
per the accounting policy adopted by the Company the revenue is recognized as
per the percentage of completion method and will be recognizing the revenue in
coming years upon the significant completion of the project. Due to this
accounting policy the company has incurred losses for the financial year. The
board of Directors of the Company is confident that it would be compensated in
the forth coming years by earning reasonable profits after the completion of
its project(s).
During
the period, the company has subscribed the equity shares and debentures of
Marvel Omega Builders Private limited and as on the end of financial year
2011-12 the Company holds 51% equity
shares of Marvel Omega Builders Private Limited, and accordingly, by virtue of
Section 4(l)(b)(i) of the Companies Act, 1956 is the holding Company of Marvel
Omega Builders Private Limited. Also last year's Subscription of 66.94% Equity
holding of the company in Marvel Sigma Homes Private Limited falls within the
purview of Section 4(l)(b)(i) of the Companies Act, 1956.
In
due compliance of the provisions of Section 212 of the Companies Act, 1956, the
financial statements of Marvel Sigma Homes Private Limited and Marvel Omega
Builders Private Limited which are the subsidiary Companies of their Company
are also attached herewith for the perusal of the Members.
During
the year the Company has promoted the following Companies acting through its
Representatives:
1.
Midas Shelters Private Limited
2.
Marvel Skyscrapers Private Limited
3.
Marvel Dwellings Private Limited
4.
Marvel Ultra Realtors and Developers (Pune) Private Limited
Further
during the year the Company has also entered into following partnerships
1.
EOS Homes LLP
2.
PAX Homes LLP
3.
Gamma Infraprojects LLP
4.
Aineo Homes LLP
5.
Marvel Precast Structures India LLP
6.
Juno Homes LLP
FIXED ASSETS:
- Citrine Sample Flat
- Plant and Machinery
- Office Equipment
- Furniture and Fixture
- Computer and Software
- Vehicles
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. 61.16 |
|
|
1 |
Rs. 97.77 |
|
Euro |
1 |
Rs. 82.78 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
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 |
|
18 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.