MIRA
INFORM REPORT
|
Report Date : |
22.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
VICON IMPERIAL INDIA PRIVATE LIMITED (w.e.f. 15.05.2007) |
|
|
|
|
Formerly Known
As : |
VIVEK
INFRASTRUCTURES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4th Floor, Ravi Bhawan, Jaistambh Chowk, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
22.08.2006 |
|
|
|
|
Com. Reg. No.: |
53-02005 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 15.283 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45202CT2006PTC020050 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged into Civil Construction Building. |
|
|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
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 : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated on 22/08/2006, the company is
yet to commence its business activities. It is having moderate track record. Management of the company has failed to file its financials after 2011
with government department. Mr. Shravan Kumar, account provided general information and denied to
provide financial information to us. As per financial of 2011, company has not commenced its commercial
operation. Business is active as per status in registrar of companies. Payment
terms are unknown. The company can be considered for business dealing on a safe and
secured trade terms and conditions. Note: Profit and Loss
accounts is not available. |
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
N E W S
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 their 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 tat 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 PARTED BY
|
Name : |
Mr. Shravan Kumar |
|
Designation : |
Accountant |
|
Contact No.: |
91-771-4083000 |
|
Date : |
21.08.2014 |
LOCATIONS
|
Registered Office : |
4th Floor, Ravi Bhawan, Jaistambh Chowk, Raipur – 492001,
Chhattisgarh, India |
|
Tel. No.: |
91-771-4083000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on: 13.09.2011
|
Name : |
Mr. Varun Jain |
|
Designation : |
Director |
|
Address : |
22B, South Avenue Choubey Colony, Raipur – 492001, Chhattisgarh, India
|
|
Date of Birth/Age : |
03.08.1983 |
|
Date of Appointment : |
22.08.2006 |
|
DIN No.: |
00222484 |
|
|
|
|
Name : |
Mr. Vaibhav Jain |
|
Designation : |
Director |
|
Address : |
22B, South Avenue Choubey Colony, Raipur – 492001, Chhattisgarh, India
|
|
Date of Birth/Age : |
01.11.1977 |
|
Date of Appointment : |
15.01.2007 |
|
DIN No.: |
00604098 |
|
|
|
|
Name : |
Mr. Ravi Ranjan Mahapatra |
|
Designation : |
Director |
|
Address : |
Maniratnam Apartments, Flat No. 1DA, Po Rajarhat, Kolkata – 700135,
West Bengal, India |
|
Date of Birth/Age : |
23.12.1959 |
|
Date of Appointment : |
10.01.2011 |
|
DIN No.: |
03343663 |
|
|
|
|
Name : |
Mr. Anoop Bali |
|
Designation : |
Director |
|
Address : |
B-3/50C, Lawrence Road, Delhi – 110035, India |
|
Date of Birth/Age : |
14.05.1966 |
|
Date of Appointment : |
10.01.2011 |
|
DIN No.: |
00302077 |
KEY EXECUTIVES
|
Name : |
Mr. Shravan Kumar |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 13.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Vaibhav Jain |
|
385880 |
|
Varun Jain |
|
433300 |
|
Vicon Holdings Private Limited, India |
|
509220 |
|
Vicon Retails (India) Private Limited, India |
|
228910 |
|
Vicon Leisures (India) Private Limited, India |
|
154000 |
|
Vicon Developers (India) Private Limited, India |
|
149000 |
|
Aditi Jain |
|
2000 |
|
Vimala Jain |
|
1000 |
|
Vimal Chand Jain (HUF) |
|
5000 |
|
|
|
|
|
Total |
|
1868310 |
As on: 19.05.2012
|
Names of Allottees |
|
No. of Shares |
|
Vaibhav Jain |
|
800000 |
|
Varun Jain |
|
800000 |
|
Vicon Holdings Private Limited, India |
|
1200000 |
|
|
|
|
|
Total |
|
2800000 |
As on: 30.10.2012
|
Names of Allottees |
|
No. of Shares |
|
Vaibhav Jain |
|
1200000 |
|
Varun Jain |
|
1200000 |
|
Vicon Holdings Private Limited, India |
|
1600000 |
|
|
|
|
|
Total |
|
4000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 13.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
55.73 |
|
Directors or relatives of directors |
|
44.27 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into Civil Construction Building. |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
GENERAL INFORMATION
|
No. of Employees : |
30 (Approximately) |
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Bankers : |
· Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India · HDFC Bank Limited, Devendra Branch |
|||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shashank Moghe and Company Chartered Accountants |
|
Address : |
Collage Road, Mahasamund – 493445, Chhattisgarh, India |
|
PAN No.: |
ADTPM7576K |
|
|
|
|
Sister Concern : |
Vicon Infrastructure Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1528310 |
Equity Shares |
Rs.10/- each |
Rs. 15.283
Millions |
|
|
|
|
|
As on: 13.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1868310 |
Equity Shares |
Rs.10/- each |
Rs. 18.683
Millions |
|
|
|
|
|
After:
Authorised Capital : Rs. 90.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 88.283
Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
15.283 |
9.610 |
0.900 |
|
|
2] Share Application Money |
3.600 |
1.018 |
40.952 |
|
|
3] Reserves & Surplus |
129.464 |
78.409 |
0.017 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
148.347 |
89.037 |
41.869 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
173.700 |
60.341 |
0.000 |
|
|
2] Unsecured Loans |
27.315 |
15.214 |
15.911 |
|
|
TOTAL BORROWING |
201.015 |
75.555 |
15.911 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
349.362 |
164.592 |
57.780 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
29.819 |
29.680 |
29.424 |
|
|
Capital work-in-progress |
197.104 |
52.015 |
11.681 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
Pre-operative Expenses |
39.371 |
20.701 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.020 |
|
|
Cash & Bank Balances |
47.135
|
12.620 |
0.215 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
43.090
|
58.096 |
29.544 |
|
Total
Current Assets |
90.225
|
70.716 |
29.779 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.679
|
7.932 |
20.896 |
|
|
Other Current Liabilities |
6.513
|
0.623 |
0.361 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
7.192
|
8.555 |
21.257 |
|
|
Net Current Assets |
83.033
|
62.161 |
8.522 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.035 |
0.035 |
8.153 |
|
|
|
|
|
|
|
|
TOTAL |
349.362 |
164.592 |
57.780 |
|
Note: Profit and Loss
Accounts is not available.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.36 |
0.85 |
0.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
12.55 |
8.27 |
1.40 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
0.900 |
9.610 |
15.283 |
|
Reserves & Surplus |
0.017 |
78.409 |
129.464 |
|
Share Application money
pending allotment |
40.952 |
1.018 |
3.600 |
|
Net worth |
0.917 |
88.019 |
144.747 |
|
|
|
|
|
|
Secured
Loans |
0.000 |
60.341 |
173.700 |
|
Unsecured
Loans |
15.911 |
15.214 |
27.315 |
|
Total borrowings |
15.911 |
75.555 |
201.015 |
|
Debt/Equity ratio |
17.351 |
0.858 |
1.389 |
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 |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
As on 31.03.2011 |
As on 31.03.2010 |
|
From Members |
0.000 |
1.669 |
|
From Inter Corporates |
27.315 |
13.045 |
|
From others |
0.000 |
0.500 |
|
|
|
|
|
Total |
27.315 |
15.214 |
Note: The Registered
Office of the company has been shifted from 22, B-South Avenue Choubey Colony, Raipur
– 492001, Chhattisgarh, India to the present address w.e.f. 01.07.2008.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10421688 |
15/01/2014 * |
670,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA |
B96002589 |
|
2 |
10341349 |
24/02/2012 |
35,000,000.00 |
PUNJAB NATIONAL BANK |
STATION ROAD BRANCH, STATION ROAD, RAIPUR, CHHATTISGARH - 492001, INDIA |
B34641514 |
* Date of charge modification
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. 60.77 |
|
|
1 |
Rs. 100.72 |
|
Euro |
1 |
Rs. 80.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
11 |
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.