MIRA
INFORM REPORT
|
Report Date : |
25.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
LODHA HI-RISE BUILDERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
216, Shah and Nahar Industrial Estate, Dr.
E.S. Mosses Road, Worli Naka, Mumbai – 400018, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.01.2007 |
|
|
|
|
Com. Reg. No.: |
11-166673 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45201MH2007PTC166673 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML06486E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL2637A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Building Construction |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
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 an established company having a moderate track record. Net worth of the company has been eroded due to continuous accumulated
loss incurred from its operations. However, business is active. Payment are reported to be slow. The company can be considered for business dealings on safe and
secured trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
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.2453.2 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.
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
Management Non-Cooperative (Tel No.: 91-22-23024400)
LOCATIONS
|
Registered Office : |
216, Shah and Nahar Industrial Estate, Dr.
E.S. Mosses Road, Worli Naka, Mumbai – 400018, Maharashtra, India |
|
Tel. No.: |
91-22-23024400 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 12.08.2013
|
Name : |
Mr. Pankajkumar Rajendra
Jain |
|
Designation : |
Nominee Director |
|
Address : |
Flat No-301, 3rd
Floor, Tirupati Complex Society, Ram Mandir Road, Near Babhai Naka, Borivali West, Mumbai – 400092, Maharashtra,
India |
|
Date of Birth/Age : |
01.07.1980 |
|
Date of Appointment : |
15.01.2013 |
|
DIN No.: |
05114230 |
|
|
|
|
Name : |
Mr. Rameshchandra Madanlal
Chechani |
|
Designation : |
Nominee Director |
|
Address : |
B-602, Lata CHS Limited, Kulupwadi
Road, Above Axis Bank, Borivli (East), Mumbai
400066, Maharashtra, India |
|
Date of Birth/Age : |
05/06/1964 |
|
Date of Appointment : |
15.01.2013 |
|
DIN No.: |
05179363 |
MAJOR SHAREHOLDERS
As on 12.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Cowtown Land Development Private Limited, India |
|
9999 |
|
Sahajanand Hi-Tech Constructions Private Limited, India |
|
1 |
|
Total |
|
10000 |
Equity Share Break up (Percentage of Total Equity)
As on 12.08.2013
|
Category |
Percentage |
|
Bodies corporate (not mentioned above) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Building Construction |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
||||||||||||||||||
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||||||||||||||||||
|
Bankers : |
Not Divulged |
||||||||||||||||||
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|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
IDBI Trusteeship Services Limited, Asian Bldg., Ground
Floor, 17, R. Kamani Marg,
Ballard Estate, Mumbai - 400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Shanker and Kapani Chartered Accountants |
|
Address : |
2nd Floor , N T
C House , 15 N M Marg, Ballard Estate, Mumbai –
400038, Maharashtra, India |
|
PAN No.: |
AAKFA6521L |
|
|
|
|
Holding Company
: |
·
Cowtown Land
Development Private Limited CIN No.: U70100MH1985PTC038213 |
|
|
|
|
Ultimate Holding
Company : |
Lodha Developers
Private Limited (Formerly known as Lodha Developers
Limited) CIN No.: U45200MH1995PTC093041 |
|
|
|
|
Subsidiary Company : |
·
Ajitnath Hi-Tech
Builders Private Limited CIN No.: U45201MH2006PTC166482 ·
Macrotech Constructions
Private Limited |
|
|
|
|
Fellow
Subsidiary Company : |
·
Aasthavinayak Estate Company
Private Limited ·
Aasthavinayak Real Estate
Private Limited ·
Adinath Builders
Private Limited ·
Anantnath Constructions and
Farms Private Limited ·
Arihant Premises
Private Limited ·
Chetna Infracon Private Limited ·
Galaxy Premises Private Limited ·
Gandhar Builders
Private Limited ·
Hi-class Buildcon
Private Limited ·
Hotel Rahat Palace
Private Limited ·
International Airport Builders and Management
Services Private Limited ·
Kidderpore Holdings
Limited ·
Lodha Attentive Developers and Farms Private
Limited ·
Lodha Buildcon
Private Limited ·
Lodha Building and Construction Private Limited ·
Lodha Crown Buildmart
Private Limited ·
Lodha Designer Construction Private Limited ·
Lodha Developers UK Limited ·
Lodha Dwellers Private Limited ·
Lodha Elevation Buildcon
Private Limited ·
Lodha Estate Private Limited ·
Lodha Glowing Construction Private Limited ·
Lodha Home Developers Private Limited ·
Lodha Home Finance Limited ·
Lodha Home Styles Private Limited ·
Lodha Impression Real Estate Private Limited ·
Lodha Land Developers Private Limited ·
Lodha Novel Buildfarms
Private Limited ·
Lodha Pinnacle Buildtech
and Farms Private Limited ·
Lodha Prime Buildfarms
Private Limited ·
Samvara Buildtech Private Limited (Formerly known as Maa Padmavati Buildtech Private Limited) ·
Mahavir Build Estate
Private Limited ·
Mahavir Premises
Private Limited ·
Microtec Constructions
Private Limited ·
Nabhiraja Software Design
Private Limited (Formerly known as Ma Padmavati
Software Design Private Limited) ·
Naminath Builders and
Farms Private Limited ·
National Standard (India) Limited ·
Odeon Theatres and Properties Private Limited ·
Palava Utilities
Private Limited ·
Sahajanand Hi-Tech
Constructions Private Limited ·
Sai Ishwer Finvest Private Limited ·
Sanathnagar Enterprises
Limited ·
Sarvavasa Buildtech and Farms Private Limited (Formerly known as Padmavati Buildtech and Farms
Private Limited) ·
Shantinath Designer Construction
Private Limited ·
Shreeniwas Cotton Mills
Limited ·
Shri Kailash
Properties and Agrofarms Private Limited ·
Shri Nakoda Bhirav Realtors Private Limited ·
Shri Vardhvinayak
Builders Private Limited ·
Siddhnath Residential
Paradise Private Limited ·
Simtools Private Limited ·
Sitaldas Estate Private
Limited ·
Suryakrupa Farms and
Constructions Private Limited |
|
|
|
|
Limited Liability Partnerships under control |
·
Ajeethnath Hi – Tech Buildtech LLP ·
Lodha Dwellerz LLP ·
Lodha Fincorp
Distribution Services LLP |
|
|
|
|
Partnership Firms under control : |
·
Lodha Construction (Dombivli) ·
Lodha Palazzo ·
Mahavir Associates ·
Shree Sainath
Enterprises ·
Vivek Enterprises |
|
|
|
|
Others : |
·
Eknath Land Developers
and Farms Private Limited |
|
|
|
|
Entities added during the year : |
·
Dalhousie Leasing and Financial Services Private
Limited ·
Jawala Real Estate
Private Limited ·
Krona Realties Private Limited ·
Manan Finserve
Private Limited ·
Proficient Buildwell
Private Limited ·
Shreeniwas Abode and House
Private Limited |
|
|
|
|
Entities ceased / Struck off during the year : |
·
FutureTech Constructions
and Precast Private Limited (Formerly known as Bahubali Real Estate and Precast
Private Limited) ·
Hi-class Developers Private Limited ·
Kundan Realtors
Private Limited ·
Lodha Pranik Landmark
Developers Private Limited ·
Lodha Ultimate Buildtech
and Farms Private Limited |
CAPITAL STRUCTURE
As on 12.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12500 |
Equity Shares |
Rs.10/- each |
Rs.0.125 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.100 |
0.100 |
|
(b) Reserves & Surplus |
|
(445.398) |
(444.833) |
|
(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) |
|
(445.298) |
(444.733) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1,185.000 |
1,195.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.040 |
|
Total Non-current Liabilities (3) |
|
1,185.000 |
1,195.040 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
2.645 |
770.308 |
|
(b) Trade payables |
|
0.144 |
64.672 |
|
(c) Other current
liabilities |
|
3.202 |
1,174.130 |
|
(d) Short-term provisions |
|
0.000 |
0.007 |
|
Total Current Liabilities (4) |
|
5.991 |
2,009.117 |
|
|
|
|
|
|
TOTAL |
|
745.693 |
2,759.424 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
0.000 |
0.000 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
734.208 |
734.208 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
10.276 |
10.483 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
744.484 |
744.691 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
859.806 |
|
(c) Trade receivables |
|
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
|
0.106 |
1,151.671 |
|
(e) Short-term loans and
advances |
|
0.004 |
3.256 |
|
(f) Other current assets |
|
1.099 |
0.000 |
|
Total Current Assets |
|
1.209 |
2,014.733 |
|
|
|
|
|
|
TOTAL |
|
745.693 |
2,759.424 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
(437.255) |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
(437.155) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
16180.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
16180.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
15742.845 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
725.185 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
3.594 |
|
|
Cash & Bank Balances |
|
|
7391.064 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
7691.220 |
|
Total
Current Assets |
|
|
15085.878 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.441 |
|
|
Other Current Liabilities |
|
|
67.761 |
|
|
Provisions |
|
|
0.016 |
|
Total
Current Liabilities |
|
|
68.218 |
|
|
Net Current Assets |
|
|
15017.660 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
|
|
15742.845 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
861.806 |
7.164 |
3.621 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
860.042 |
14.742 |
326.567 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(0.236) |
(7.578) |
(322.946) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(3.029) |
0.000 |
(0.002) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(0.565) |
(7.578) |
(322.944) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(444.833) |
(437.255) |
(114.311) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(455.398) |
(444.833) |
(437.255) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(56.52) |
(757.90) |
(32294.37) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.07) |
(105.78) |
(8918.64) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.05) |
(0.37) |
(2.14) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.02 |
0.74 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(2.67) |
(4.42) |
(37.01) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.20 |
1.00 |
221.14 |
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 |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
(437.255) |
(444.833) |
(445.398) |
|
Net
worth |
(437.155) |
(444.733) |
(445.298) |
|
|
|
|
|
|
Secured Loans |
16180.000 |
1965.308 |
1187.645 |
|
Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
16180.000 |
1965.308 |
1187.645 |
|
Debt/Equity
ratio |
(37.012) |
(4.419) |
(2.667) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs. In
Millions |
Rs. In
Millions |
|
Sales |
3.621 |
7.164 |
861.806 |
|
|
|
97.846 |
11,929.676 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs. In
Millions |
Rs. In
Millions |
|
Sales
|
3.621 |
7.164 |
861.806 |
|
Profit |
(322.944) |
(7.578) |
(0.565) |
|
|
(8918.64%) |
(105.78%) |
(0.07%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS NOT AVAILABLE
|
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 |
No |
|
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 |
FINANCIAL OVERVIEW
The Company’s total income has increased from Rs.7.164 Millions in the
financial year 2011-12 to Rs.861.806 Millions in the financial year 2012-13.
There has also been an increase in Company’s total expenditure from Rs.14.742
Millions for the financial year 2011-12 to Rs.862.042 Millions for the
financial year 2012-13. Consequently, the Company’s Net Loss after Tax has also
decreased from Rs.7.578 Millions for the previous financial year to Rs.0.565
Million.
MUMBAI REAL ESTATE
With developers getting clarifications about amendments on Development Control Regulation (DCR) of Greater Mumbai, there has been a number of launches in the market. Most of the launches have been at a discount to the average market prices to attract volumes. New product launches at attractive prices with discounts and schemes have attracted buyers and resulted in a pick-up of sales during the year. The Mumbai residential market has been able to maintain the price strength despite a number of launches due to the strong and consistent demand. The city’s realty scenario is interestingly poised post clarity on new DCR rules emerging in the last couple of quarters. A number of projects which were stuck up at the approval stage in the last year are likely to be cleared, paving way for a large number of launches hitting the market.
Despite the recent pick up in absorption in the last two quarters, the Mumbai office absorption for FY13 was lower by 30% than in FY12. Uncertain economic environment has continued leading to reduced employment growth and therefore lower the fresh commercial property absorption. The tighter lending standards for commercial construction have not helped either. On the brighter note these market conditions continue to favour tenants in most of Mumbai’s micro-markets by ways of a larger bunch of options, rational pricing and various concessions.
The real estate market conditions are optimal for consolidation and relocation and many Mumbai-based occupiers will avail of this option throughout FY14.
REVIEW OF OPERATIONS AND
FUTURE OUTLOOK
The Company has not yet commenced any business. However, it is considering various options for the future growth and development of its business.
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.61.07 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
|
12 |
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.