MIRA INFORM REPORT
|
Report Date : |
18.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
GENESIS LUXURY FASHION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3A-1, Taj Apartments, Rao Tula Ram Marg, New Delhi - 110022 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.09.2007 |
|
|
|
|
Com. Reg. No.: |
55-168462 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.172.636 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74994DL2007PTC168462 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELG10686E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCG9446R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Subject is engaged in the trading of luxury garments. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “GENESIS COLORS PRIVATE LIMITED”. It is an established company having satisfactory track record. The rating takes in to consideration credit enhancement in the form of unconditional and irrevocable corporate guarantee provided by parent company. Rating also takes into consideration company’s established position as one of the leading players in the India fashion and designer wear industry and decent liquidity profile. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. In view of strong holding support, the company can be
considered for business dealings at usual 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BBB (SO) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
28.03.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3+ (SO) |
|
Rating Explanation |
Moderate degree of safety and high credit risk |
|
Date |
28.03.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
PF (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
Management Non-Cooperative (91-124-4181111)
LOCATIONS
|
Registered Office : |
3A-1, Taj Apartments, Rao Tula Ram Marg, New Delhi – 110022, India |
|
Tel. No.: |
91-11-26165102 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office 1 : |
52 Udyog Vihar - Phase IV, Gurgaon - 122001, Haryana, India |
|
Tel. No.: |
91-124-4181111 |
|
Fax No.: |
91-124-4181112 |
|
|
|
|
Corporate Office 2 : |
438 Kaliandas Udyog Bhavan, Near Century Bazaar,
Prabhadevi |
|
Tel. No.: |
91-22-24321311 |
|
Fax No.: |
91-22-24314350 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sanjay Kapoor |
|
Designation : |
Chairman |
|
Address : |
8/1, 1st Floor, Shanti Niketan, New Delhi – 110011, India |
|
Date of Birth/Age : |
28.10.1967 |
|
Qualification : |
BA(H)- Eco and MBA |
|
Date of Appointment : |
20.09.2007 |
|
PAN No.: |
AAJPK0926C |
|
DIN No.: |
00264602 |
|
|
|
|
Name : |
Mr. Jyoti Mohan Narula |
|
Designation : |
Director |
|
Address : |
E – 1/22, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth/Age : |
14.10.1964 |
|
Date of Appointment : |
20.09.2007 |
|
DIN No.: |
00333574 |
|
|
|
|
Name : |
Mr. Vishal Kirti Keshav Marwaha |
|
Designation : |
Director |
|
Address : |
D2, A/8, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth/Age : |
26.11.1963 |
|
Date of Appointment : |
30.07.2012 |
|
DIN No.: |
00164204 |
|
|
|
|
Name : |
Mr. Rajiv Grover |
|
Designation : |
Director |
|
Address : |
A-120, Inder Puri, New Delhi – 110012, India |
|
Date of Birth/Age : |
30.10.1973 |
|
Date of Appointment : |
30.07.2012 |
|
DIN No.: |
05124608 |
|
|
|
|
Name : |
Ketki Kiran Paranjpe |
|
Designation : |
Additional Director |
|
Address : |
21/B/22, Takshila Mahakali Caves Road, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Date of Birth/Age : |
13.03.1981 |
|
Date of Appointment : |
16.02.2013 |
|
DIN No.: |
06501326 |
|
|
|
|
Name : |
Meenu Juneja |
|
Designation : |
Director |
|
Address : |
316 - D Pocket – 2, Mayur Vihar Phase – 1, Delhi – 110091, India |
|
Date of Birth/Age : |
14.01.1972 |
|
Date of Appointment : |
26.09.2013 |
|
DIN No.: |
02478745 |
KEY EXECUTIVES
|
Name : |
Mr. Ankur Jain |
|
Designation : |
Secretary |
|
Address : |
C-144A, Street No. 05, Ganga Vihar, Gokal Puri, New Delhi – 110094, India |
|
Date of Birth/Age : |
22.01.1984 |
|
Date of Appointment : |
08.03.2011 |
|
PAN No.: |
AIBPJ2614A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Genesis Colors Private Limited, India |
|
9051925 |
|
Sanjay Kapoor |
|
875000 |
|
L Capital GLF Limited, Mauritius |
|
7008679 |
|
Trustees of Genesis Luxury Fashion Employee Welfare Trust, India |
|
328022 |
|
Total |
|
17263626 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
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 |
40.60 |
|
Bodies corporate |
52.43 |
|
Directors or relatives of Directors |
5.07 |
|
Other top fifty shareholders |
1.90 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in the trading of luxury garments. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
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||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Associates Chartered Accountants |
|
Address : |
8th Floor, Tower B, Building No. 10, DLF Cyber City Phase - 2 Gurgaon, Haryana, India |
|
PAN No.: |
AAIFB7355D |
|
|
|
|
Holding Company : |
Genesis Colors Private Limited CIN No.: U51311DL1998PTC097184 |
|
|
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|
Subsidiary Company
: |
|
|
|
|
|
Enterprise in which
KMP has substantial interest; |
Genesis Overseas Private Limited |
|
|
|
|
Associates and
other enterprises having significant influence: |
Canali India Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18000000 |
Equity Shares |
Rs.10/- each |
Rs.180.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17263626 |
Equity Shares |
Rs.10/- each |
Rs.172.636 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 |
172.636 |
143.549 |
106.061 |
|
(b) Reserves & Surplus |
1361.951 |
893.307 |
319.195 |
|
(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) |
1534.587 |
1036.856 |
425.256 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
1.084 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
3.080 |
8.396 |
0.000 |
|
(d) long-term
provisions |
5.963 |
6.408 |
4.116 |
|
Total Non-current
Liabilities (3) |
9.043 |
14.804 |
5.200 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
96.435 |
130.000 |
259.175 |
|
(b) Trade
payables |
56.098 |
69.270 |
41.302 |
|
(c) Other
current liabilities |
22.033 |
12.457 |
37.593 |
|
(d) Short-term
provisions |
24.129 |
16.613 |
38.585 |
|
Total Current
Liabilities (4) |
198.695 |
228.340 |
376.655 |
|
|
|
|
|
|
TOTAL |
1742.325 |
1280.000 |
807.111 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
100.274 |
101.130 |
77.478 |
|
(ii) Intangible
Assets |
7.277 |
0.769 |
1.284 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
583.101 |
5.010 |
0.000 |
|
(c) Deferred tax assets (net) |
28.280 |
25.067 |
27.123 |
|
(d) Long-term Loan and Advances |
282.602 |
278.662 |
100.092 |
|
(e) Other
Non-current assets |
0.192 |
0.179 |
0.169 |
|
Total Non-Current
Assets |
1001.726 |
410.817 |
206.146 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
253.107 |
345.196 |
274.273 |
|
(c) Trade
receivables |
405.097 |
356.798 |
286.331 |
|
(d) Cash
and cash equivalents |
12.742 |
96.849 |
4.234 |
|
(e)
Short-term loans and advances |
68.844 |
20.380 |
30.596 |
|
(f) Other
current assets |
0.809 |
49.960 |
5.531 |
|
Total
Current Assets |
740.599 |
869.183 |
600.965 |
|
|
|
|
|
|
TOTAL |
1742.325 |
1280.000 |
807.111 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Income |
NA |
922.200 |
748.200 |
|
|
|
Other Income |
|
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
NA |
NA |
NA |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
19.013 |
14.317 |
74.719 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.187 |
7.092 |
25.928 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
16.826 |
7.225 |
48.791 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
129.450 |
122.225 |
73.434 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
146.276 |
129.450 |
122.225 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Recovery towards advertising and marketing costs |
10.466 |
4.839 |
10.722 |
|
|
|
Consultancy Income |
0.730 |
2.958 |
0.000 |
|
|
TOTAL EARNINGS |
11.196 |
7.797 |
10.722 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
22.008 |
47.286 |
30.631 |
|
|
|
Trading Goods |
348.130 |
528.940 |
286.853 |
|
|
TOTAL IMPORTS |
370.138 |
576.226 |
317.484 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.97 |
0.50 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
1.55 |
9.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.68 |
1.15 |
9.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.01 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.06 |
0.13 |
0.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.73 |
3.81 |
1.60 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
106.061 |
143.549 |
172.636 |
|
Reserves & Surplus |
319.195 |
893.307 |
1361.951 |
|
Net
worth |
425.256 |
1036.856 |
1534.587 |
|
|
|
|
|
|
long-term borrowings |
1.084 |
0.000 |
0.000 |
|
Short term borrowings |
259.175 |
130.000 |
96.435 |
|
Total
borrowings |
260.259 |
130.000 |
96.435 |
|
Debt/Equity
ratio |
0.612 |
0.125 |
0.063 |
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 two 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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONAL
HIGHLIGHTS OF THE YEAR AND FUTURE PROSPECTS:
The Directors are happy to inform you that the net profits of the Company have more than doubled from Rs. 7.255 Millions in financial year 2011-12 to Rs. 16.826 Millions in financial year 2012-13.
The Company has opened six (6) new stores during the period, which are as follows:
1. Jimmy Choo Store at Bergamo Mall, Chennai
2. Bottega Veneta Store at Bergamo Mall, Chennai
3. Furla store at Palladium Mall, Mumbai
4. Furla store at Inorbit Mall, Mumbai
5. Michael Kors store at DLF Emporio Mall, New Delhi
6. Villeroy and Boch store at Palladium Mall, Mumbai
The Company presently distribute products of 8 international luxury brands namely Paul Smith, Etro, Tumi, Jimmy Choo, Bottega Veneta Furla, Villorey and Boch and Michael Kors. During the period, the Company has entered into an exclusive license agreement with the American fashion brand “Michael Kors”. The Company has, by way of entering into the amendment agreement, deferred its distribution rights under the brand “Vince Camuto” by one year, and shall start the distribution of the products of Vince Camuto w.e.f. January, 2014. The Company is into discussions with more international luxury brands for obtaining the distribution rights of their products in India.
The Company has entered into a joint venture agreement with Villeroy and Boch AG on January 25, 2013, and pursuant to the terms of the joint venture agreement, Villeroy and Boch AG and the Company are in the process of incorporating the joint venture company in the name of V&B Lifestyle India Private Limited, with the investment in the ratio of 50: 50, to carry on the business of single brand retail trade of the products under the brand “Villeroy and Boch”. The foreign investment by Villeroy and Boch AG in the proposed joint venture company was approved by Department of Industrial Policy and Promotion vide its letter dated July 7, 2013.
During the period , the Company has entered into the Investment Agreement dated October 8, 2012, with L Capital GLF Limited (L Capital), Genesis Colors Private Limited, Mr. Sanjay Kapoor, Genesis Life Style Events Private Limited and Mr. Jyoti Mohan Narula, pursuant to, and in terms of which, L Capital subscribed to additional 32,59,851 equity shares of the Company, of face value of Rs. 10/- each at a price of Rs. 184.057492/- per equity share, for a total consideration of Rs. 60,00,00,000/-. Thus, the total investment of L Capital in the Company stands increased to Rs. 1200.000 Millions with a percentage holding of 40.598%.
The Company had issued the letter of offer dated 18th December, 2012 to its shareholders for the buy back of its 6,79,135 equity shares @ Rs. 184.057492/- per equity share proportionately from its shareholders, for a total consideration of Rs. 12,49,99,885/-. In pursuance of the letter of offer, only one shareholder of the Company, i.e. Genesis Life Style Events Private Limited, tendered 6,79,135 equity shares @ Rs. 184.057492/- each, to the Company for buy back. Accordingly, the Company completed its buy back on January 14, 2013.
In terms of the investment agreement dated June 21, 2011, entered into by the Company inter alia with L Capital and Employee Stock Option Plan, 2010 (ESOP), the Company settled a trust in the name of “Genesis Luxury Fashion Employee Welfare Trust” (“the Trust”) on December 4, 2012, for the benefit of Mr. Nikhil Mehra and Ms. Deepika Gehani, employees of the company, with Mr. Sanjay Kapoor and Mr. Jyoti Mohan Narula as the trustees, and issued 3,28,022 equity shares underlying the stock options, to the Trust on 22nd February, 2013. Consequent upon resignation by Mr. Jyoti Mohan Narula as the trustee of the Trust w.e.f. 31st May, 2013, the Company appointed Mr. Virender Bhasin as the trustee of the Trust.
Consequent upon the above the issued and paid up share capital of the Company as on date stands increased to Rs. 172.636 Millions.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Short term
borrowings |
|
|
|
Loans repayable on demand from others |
0.000 |
130.000 |
|
Total |
0.000 |
130.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10238356 |
17/08/2010 |
150,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
A94072709 |
|
2 |
10223732 |
16/08/2013 * |
100,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B84007822 |
|
3 |
10182195 |
08/09/2009 |
30,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A72221294 |
|
4 |
10147498 |
08/09/2009 * |
80,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A72154479 |
|
5 |
10276652 |
04/12/2008 |
50,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A55435408 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Leasehold Improvements
Intangible Assets
- Computer 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.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.