MIRA
INFORM REPORT
|
Report Date : |
07.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
EZEEROOMS
ACCOMODATION PRIVATE LIMITED |
|
|
|
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Registered
Office : |
81/2/3, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
28.09.2012 |
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|
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Com. Reg. No.: |
21-186607 |
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Capital
Investment / Paid-up Capital : |
Rs.4.990
millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U74900WB2012PTC186607 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in providing Hospitality Services. |
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No. of Employees
: |
Information declined by the Management. |
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 20000 |
|
|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company incorporated on September 28, 2012
and yet to commence its business activity. Mr. Abhishek Bhuwania, the director denied to disclose any information
of the subject to us. As per the available first financial statement of 2013, management has
not commenced any commercial operations as a result of which they have not
prepared the profit and loss statement for the year under review. Moreover, the company has reported a minimal capital base during FY
13. The ratings also take into consideration, the promoter’s active and rigorous involvement in promotions by way of various offers to lure customers,
in this competitive environment. However, business is active. Payment terms are unknown. In view of business being in an embryonic stage, the company can be
considered for business dealings on a fully 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
NEWS
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the share goes up further in the
coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to influence
each other in ways that could be very complex and far-reaching. The prospects
of the India’s economy have been seriously compromised due to political
corruption. High inflation, poor standard of living are to a great extent a
result of rampant corruption in the country. China on the other hand, seems to
be facing diametrically opposite challenge. American hedge fund manager Jim
Chanos has been keenly following the political and economic development in the
dragon economy and has figured out something that is quite worrying. He is of
the view that the Chinese economy could be heading toward trouble on account of
new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes that many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20%! Equities came in second with annualized
return of 15.5%! However, while these returns may seem mouthwatering, the fact
is that the return from equities adjusted for inflation came down to just 7.1
%.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs.10000 mn.
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
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Abhishek Bhuwania |
|
Designation : |
Director |
|
Contact No.: |
91-9831387711 |
|
Date : |
30.07.2014 |
LOCATIONS
|
Registered Office : |
81/2/3, Phears Lane, 4th
Floor, Kolkata – 700 073, West Bengal, India |
|
Tel. No.: |
91-33-40715560 (Help Line) |
|
Mobile No.: |
91-9831387711 (Mr. Abhishek Bhuwania) |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
3B, Lalbazar
Street, 5th Floor, Kolkata – 700 001, West Bengal, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Sanjiv Prem Nath Gupta |
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Designation : |
Director |
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Address : |
31B, Lake Temple Road, 3rd Floor, Kolkata – 700 029, West Bengal, India |
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Date of Birth/Age : |
26.01.1967 |
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Date of Appointment : |
28.09.2012 |
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DIN No.: |
02713827 |
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Other Directorship:
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Name : |
Mr. Abhishek Ashok Kumar Bhuwania |
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Designation : |
Director |
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Address : |
123, Canal Street, Sreebhumi, Lake Town, Kolkata – 700 048, West Bengal, India |
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Date of Birth/Age : |
29.11.1983 |
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Date of Appointment : |
28.09.2012 |
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DIN No.: |
03510827 |
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Other Directorship:
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|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rahul Ashok Kumar Bhuwania |
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Designation : |
Director |
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|
Address : |
123, Canal Street, Sreebhumi, Lake Town, Kolkata – 700 048, West Bengal, India |
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Date of Birth/Age : |
18.01.1980 |
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Date of Appointment : |
28.09.2012 |
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DIN No.: |
03510831 |
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Other Directorship:
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|||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Ritiesh Ashok Kumar Bhuwania |
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Designation : |
Director |
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|
Address : |
123, Canal Street, Sreebhumi, Lake Town, Kolkata – 700 048, West Bengal, India |
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Date of Birth/Age : |
28.05.1981 |
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Date of Appointment : |
28.09.2012 |
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DIN No.: |
03510839 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Abhishek Bhuwania |
|
32500 |
|
Rahul Bhuwania |
|
102500 |
|
Ritiesh Bhuwania |
|
32500 |
|
Sanjiv Gupta |
|
211500 |
|
Rahul Bhuwania HUF |
|
15000 |
|
Ritiesh Bhuwania HUF |
|
15000 |
|
Renu Bhuwania |
|
30000 |
|
Seema Govindram Poddar |
|
30000 |
|
Sweta Seksaria |
|
30000 |
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Total
|
|
499000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing Hospitality Services. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management. |
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|
|
|
Bankers : |
HDFC Bank Limited, Rashbehari, Kolkata, West Bengal, India (Bank A/c
No.: 5302560001403) |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
G. Goenka and Associates Chartered Accountants |
|
Address : |
112, Ashutosh Mukherjee Road, Bhowanipore, 2nd Floor,
Kolkata – 700025, West Bengal, India |
|
PAN No.: |
AAIFG6929N |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
499000 |
Equity Shares |
Rs.10/- each
|
Rs.4.990
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
4.990 |
|
(b) Reserves & Surplus |
|
|
0.000 |
|
(c) Money received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
4.990 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long
term liabilities |
|
|
0.000 |
|
(d) Long-term
provisions |
|
|
0.000 |
|
Total Non-current
Liabilities (3) |
|
|
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
|
0.000 |
|
(b)
Trade payables |
|
|
0.000 |
|
(c)
Other current liabilities |
|
|
0.737 |
|
(d) Short-term
provisions |
|
|
0.000 |
|
Total Current
Liabilities (4) |
|
|
0.737 |
|
|
|
|
|
|
TOTAL |
|
|
5.727 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
|
0.034 |
|
(ii)
Intangible Assets |
|
|
0.105 |
|
(iii) Capital
work-in-progress |
|
|
0.000 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
0.679 |
|
(e) Other Non-current
assets |
|
|
0.280 |
|
Total Non-Current
Assets |
|
|
1.098 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
0.000 |
|
(c)
Trade receivables |
|
|
0.000 |
|
(d) Cash
and cash equivalents |
|
|
4.258 |
|
(e)
Short-term loans and advances |
|
|
0.371 |
|
(f)
Other current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
4.629 |
|
|
|
|
|
|
TOTAL |
|
|
5.727 |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
6.28 |
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 |
No |
|
12] |
Profitability for last three years |
No |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
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 |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
Note:
No Charges Exist for Company.
OPERATIONS:
Since the company has not
started its production, no Statement of Profit & Loss is made for the
period ended on 31st March 2013.
CONTINGENT LIABILITIES NOT
PROVIDED FOR IN THE BOOKS OF ACCOUNTS IN RESPECT OF (AS ON 31.03.2013): –
·
Inland
Bank Guarantee of Rs.3.863 millions in Respect of Desiya Online Travel
Distribution Private Limited given to Axis Bank against 100% Cash Margin .
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.61.34 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.81.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--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.