|
Report Date : |
04.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE HOME FINANCE LIMITED |
|
|
|
|
Formerly Known
As : |
RELIANCE HOME FINANCE PRIVATE LIMITED (w.e.f. 26.03.2009) RELIANCE HOMES FINANCE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
570, Rectifier House, 3rd Floor, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.06.2008 |
|
|
|
|
Com. Reg. No.: |
11-183216 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 658.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U67190MH2008PLC183216 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECR0305E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is Principally Engaged in Housing Finance Business. |
|
|
|
|
No. of Employees
: |
Information Denied by Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 16000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “Reliance Group”. It is a well-established
company having fine track record. Financial position of the company appears to be sound. The company gets
good financial and managerial support from its holding companies. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. In view of strong holding, the company can be considered good for
normal business dealings at usual 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
Uptick in
agriculture and construction spread some cheer as the economy grew a
higher-than-expected 4.8 % in the three months through September. Manufacturing
rose an annual rate per cent during the quarter and mining fell by 0.4 %,
government data showed while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of
payments is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of
18.4 % between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
PTC Series A: “AAA (SO)” |
|
Rating Explanation |
Highest degree of safety carry lowest credit
risk. |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED BY
|
Name : |
Ms. Neena Parelkar |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-22-30479531 / 30479450 |
|
Date : |
03.01.2013 |
LOCATIONS
|
Registered Office : |
570, Rectifier House, 3rd Floor, Naigaum Cross Road, Wadala,
Mumbai – 400031, Maharashtra, India |
|
Tel. No.: |
91-22-30479531 / 30479450 |
|
Fax No.: |
91-22-30479450 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 20.07.2013
|
Name : |
Mr. Padmanabh Pundrikray Vora |
|
Designation : |
Director |
|
Address : |
Flat No. 503 – 504, 5th Floor, A Wing, |
|
Date of Birth/Age : |
01.10.1943 |
|
Date of Appointment : |
01.07.2008 |
|
DIN No.: |
00003192 |
|
|
|
|
Name : |
Mr. Gautam Bhailal Doshi |
|
Designation : |
Director |
|
Address : |
402, |
|
Date of Birth/Age : |
23.12.1952 |
|
Date of Appointment : |
01.07.2008 |
|
DIN No.: |
00004612 |
|
|
|
|
Name : |
Mr. Soumen Ghosh |
|
Designation : |
Director |
|
Address : |
1501, Lodha Aria 6/207 Tokersey Jivraj, Road, Sewree, Mumbai – 400015,
|
|
Date of Birth/Age : |
08.06.1959 |
|
Date of Appointment : |
01.07.2008 |
|
DIN No.: |
01262099 |
|
|
|
|
Name : |
Mr. Srinivasan Venkateswaran Krishnan |
|
Designation : |
Additional director |
|
Address : |
Flat no.1601, B Wing, 16 Floor, Dosti Elite Metal Rolling Compound,
Near sion Tele Exchange, Sion East, Mumbai – 400022, |
|
Date of Birth/Age : |
31.01.1965 |
|
Date of Appointment : |
28.04.2012 |
|
DIN No.: |
01827316 |
KEY EXECUTIVES
|
Name : |
Mr. Suresh Kumar Kunnath |
|
Designation : |
Manager |
|
Address : |
Raheja Heights C Wing Flat No. 83, Nagar Niwaea Parishad, Goregaon –
East, Mumbai – 400097, Maharashtra, India |
|
Date of Birth/Age : |
16.05.1968 |
|
PAN No : |
ALOPS5878D |
|
Date of Appointment : |
28.04.2012 |
|
|
|
|
Name : |
Mr. Neena Ulhas Parelkar |
|
Designation : |
Secretary |
|
Address : |
B/202, Raj Anand D D Borge Lane, Eksar Road, Borivali – West, Mumbai –
400091, Maharashtra, India |
|
PAN No : |
AKUPP4102G |
|
Date of Appointment : |
01.05.2012 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 20.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
Chetan Raval jointly with Reliance capital limited |
|
2 |
|
Yogesh deshpande jointly with reliance capital limited |
|
2 |
|
Atul Tandon jointly with reliance capital limited |
|
2 |
|
Parul Jain jointly with reliance capital limited |
|
2 |
|
Kanam Cheittar jointly with reliance capital limited |
|
2 |
|
Madan Chaturvedi jointly with reliance capital limited |
|
10 |
|
Reliance capital Limited |
|
65819980 |
|
|
|
|
|
Total |
|
65820000 |
Equity Share Break up (Percentage of Total Equity)
As on: 20.07.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is Principally Engaged in Housing Finance Business. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information Denied by Management |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· United Bank of India, Corporate Finance Branch, 25, Sir P. M. Road, 2nd Floor, Fort, Mumbai - 400001, Maharashtra, India · Axis Bank Limited, Atlanta, 209, Nariman Point, Mumbai - 400021, Maharashtra, India · Indusind Bank Limited, 2401 Gen Thimmayya Road, Contonment, Pune - 411001, Maharashtra, India, · Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli,, Mumbai - 400018, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Finance Institutions: |
IDBI Trusteeship Services Limited, Asian Bldg., Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai - 400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400021,
|
|
PAN No.: |
AAAFC0662N |
|
|
|
|
Ultimate Holding Company : (31.03.2011) |
Reliance Innoventures Private Limited
|
|
|
|
|
Holding company : (31.03.2011) |
Reliance Capital Limited |
|
|
|
|
Fellow Subsidiary : (31.03.2011) |
Reliance General Insurance Company |
CAPITAL STRUCTURE
As on: 20.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs. 750.000 Millions |
|
50000000 |
Preference Shares |
Rs. 10/- each |
Rs. 500.000 Millions |
|
|
Total |
|
Rs. 1250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
65820000 |
Equity Shares |
Rs.10/- each |
Rs. 658.200 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 |
658.200 |
329.100 |
326.600 |
|
(b) Reserves & Surplus |
3550.906 |
3608.499 |
3096.466 |
|
(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) |
4209.106 |
3937.599 |
3423.066 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
19152.091 |
18424.089 |
16810.000 |
|
(b) Deferred tax liabilities (Net) |
49.050 |
38.000 |
34.525 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
129.275 |
99.706 |
27.130 |
|
Total Non-current
Liabilities (3) |
19330.416 |
18561.795 |
16871.655 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
244.168 |
443.125 |
2701.620 |
|
(b)
Trade payables |
0.000 |
0.000 |
0.204 |
|
(c)
Other current liabilities |
5737.132 |
2772.769 |
2634.869 |
|
(d) Short-term
provisions |
14.185 |
4.237 |
2.177 |
|
Total Current
Liabilities (4) |
5995.485 |
3220.131 |
5338.870 |
|
|
|
|
|
|
TOTAL |
29535.007 |
25719.525 |
25633.591 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.656 |
0.655 |
0.015 |
|
(ii)
Intangible Assets |
1.797 |
3.378 |
4.960 |
|
(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 |
137.571 |
137.571 |
137.571 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
24826.464 |
22806.447 |
23355.715 |
|
(e) Other
Non-current assets |
956.671 |
785.473 |
421.564 |
|
Total Non-Current
Assets |
25923.159 |
23733.524 |
23919.825 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
250.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
0.000 |
3.326 |
6.577 |
|
(d) Cash
and cash equivalents |
709.417 |
495.499 |
86.992 |
|
(e) Short-term
loans and advances |
2666.678 |
1013.935 |
1437.993 |
|
(f)
Other current assets |
235.753 |
223.241 |
182.204 |
|
Total
Current Assets |
3611.848 |
1986.001 |
1713.766 |
|
|
|
|
|
|
TOTAL |
29535.007 |
25719.525 |
25633.591 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3555.944 |
3391.368 |
3228.562 |
|
|
|
Other Income |
55.485 |
0.182 |
9.036 |
|
|
|
TOTAL (A) |
3611.429 |
3391.550 |
3237.598 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
275.027 |
256.657 |
278.476 |
|
|
|
Other expenses |
372.303 |
411.430 |
431.741 |
|
|
|
TOTAL (B) |
647.330 |
668.087 |
710.217 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2964.099 |
2723.463 |
2527.381 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2542.231 |
2325.249 |
1903.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
421.868 |
398.214 |
623.581 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.631 |
1.606 |
1.586 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
420.237 |
396.608 |
621.995 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
145.410 |
132.075 |
209.913 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
274.827 |
264.533 |
412.082 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
581.715 |
370.082 |
40.400 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
54.900 |
52.900 |
82.400 |
|
|
BALANCE CARRIED
TO THE B/S |
801.642 |
581.715 |
370.082 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.26 |
4.20 |
13.67 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.61 |
7.80 |
12.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.81 |
11.70 |
19.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.42 |
1.56 |
2.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.10 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.61 |
4.79 |
5.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.60 |
0.61 |
0.32 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current maturities of long-term debt |
4312.400 |
2125.000 |
1190.000 |
|
|
|
|
|
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
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 |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Non-convertible debentures others |
1180.000 |
0.000 |
|
Commercial paper |
244.168 |
443.125 |
|
|
|
|
|
Total |
1424.168 |
443.125 |
FINANCIAL PERFORMANCE
AND REVIEW OF BUSINESS:
The Company’s gross income for the financial year ended March 31, 2013 increased to Rs.3611.400 millions from Rs. 3391.600 millions in the previous year, recording a growth of 6.48 per cent. As compared to the previous year, the cost of funds of the company increased by 9.33%. The gross profit amounted to Rs. 420.200 millions registering an increase of 5.96% against the previous year. Depreciation remained steady at Rs. 1.600 millions. The provision for taxation during the year was Rs. 145.400 millions. The net profit for the year was Rs.274.800 millions. During the year, an interim dividend of Rs. 3.300 millions (inclusive of dividend distribution tax) was paid to the preference shareholders in respect of dividend accumulated on these preference shares @8% for F.Y. 2009-2010 and 2010-2011. An amount of Rs. 54.900 millions was transferred to the Special Reserve Fund pursuant to section 29-C of the National Housing Bank Act, 1987, during the year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10456381 |
30/09/2013 |
2,500,000,000.00 |
UNITED BANK OF INDIA |
CORPORATE FINANCE BRANCH, 25, SIR P. M. ROAD, 2ND FLOOR, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B88054127 |
|
2 |
10416253 |
29/03/2013 |
2,000,000,000.00 |
BANK OF MAHARASHTRA |
INDUSTRIAL FINANCE BRANCH, APPEJAY HOUSE, 130, DR. V B GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B72143746 |
|
3 |
10402608 |
31/01/2013 |
3,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B67823724 |
|
4 |
10384865 |
28/09/2012 |
1,000,000,000.00 |
STATE BANK OF PATIALA |
ATLANTA, FIRST FLOOR, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
B61519856 |
|
5 |
10354116 |
27/12/2011 |
1,000,000,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, UCO BANK BUILDING, DR. |
B33576422 |
|
6 |
10322962 |
05/12/2011 |
2,000,000,000.00 |
ANDHRA BANK |
5-9-11, DR. PATTABHI BHAVAN, SAIFABAD, HYDERABAD, ANDHRA PRADESH - 500004, INDIA |
B27799808 |
|
7 |
10305842 |
17/08/2011 |
1,000,000,000.00 |
ANDHRA BANK |
5-9-11, DR. PATTABHI BHAVAN, SAIFABAD, HYDERABAD, ANDHRA PRADESH - 500004, INDIA |
B20340949 |
|
8 |
10238822 |
16/08/2010 |
1,500,000,000.00 |
PUNJAB AND SIND BANK |
21, RAJINDRA PLACE, NEW DELHI, DELHI, DELHI - 110 |
A94059342 |
|
9 |
10232614 |
27/08/2013 * |
1,000,000,000.00 |
AXIS BANK LIMITED |
ATLANTA, 209, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B84534775 |
|
10 |
10234467 |
08/07/2010 |
2,000,000,000.00 |
AXIS BANK LIMITED |
ATLANTA, 209, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A91732560 |
|
11 |
10231322 |
19/12/2012 * |
600,000,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARA |
B65459497 |
|
12 |
10212886 |
22/03/2010 |
2,500,000,000.00 |
CANARA BANK |
PRIME CORPORATE BRANCH - II, VARMA CHAMBERS, 2ND |
A83401562 |
|
13 |
10208429 |
03/03/2010 |
1,500,000,000.00 |
SYNDICATE BANK |
POST BOX NO 1, MANIPAL, KARNATAKA - 576104, INDIA |
A81582843 |
|
14 |
10207048 |
25/02/2010 |
1,500,000,000.00 |
PUNJAB AND SIND BANK |
21, RAJINDRA PLACE, NEW DELHI, DELHI, DELHI - 110 |
A81303430 |
|
15 |
10193478 |
17/12/2009 |
750,000,000.00 |
PUNJAB AND SIND BANK |
21, RAJINDRA PLACE, NEW DELHI, DELHI, DELHI - 110 |
A76192020 |
|
16 |
10180200 |
29/09/2009 |
2,500,000,000.00 |
IDBI BANK LIMITED |
224-A, MITTAL COURT, A-WING, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A70861273 |
|
17 |
10181572 |
29/12/2012 * |
1,000,000,000.00 |
BANK OF INDIA |
NEW DELHI CORPORATE BANKING BRANCH, 37, SHAHEED BHAGAT SINGH MARG, NEW DELHI, DELHI - 110001, INDIA |
B65910671 |
|
18 |
10178564 |
31/08/2009 |
1,000,000,000.00 |
SYNDICATE BANK |
POST BOX NO 1, MANIPAL, KARNATAKA - 576104, INDIA |
A70024880 |
*Date of charge modification
FIXED ASSETS
· Land and Buildings
· Office equipment
· Computer equipments
· Other equipments
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. 62.41 |
|
|
1 |
Rs. 102.53 |
|
Euro |
1 |
Rs. 85.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
65 |
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.