MIRA INFORM REPORT
|
Report Date : |
17.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
OFFBEAT DEVELOPERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Marketcity Resources Private Limited, R R Hosiery Building, Ground
Floor, Laxmi Wollen Mills Estate, Mahalaxmi, Mumbai-400011, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
14.02.2000 |
|
|
|
|
Com. Reg. No.: |
11-124192 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 299.350 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U55200MH2000PTC124192 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMO03938E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO5140L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
They are engaged in Real Estate Development Services (Mall Developers) |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 13000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Even though the company was incorporated on 14th February 2000,
it has commenced its business operations from the financial year 2011-2012. General financial position of the company seems to be fair. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for 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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities=BB- (Suspended) |
|
Rating Explanation |
Inadequate degree of safety and high credit
risk. |
|
Date |
16.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities=A4 (Suspended) |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
16.01.2014 |
Reason for Suspension= Not furnish the
information required by care.
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 Co-operative (91-22-30016600)
LOCATIONS
|
Registered Office : |
Marketcity Resources Private Limited, R R Hosiery Building, Ground
Floor, Laxmi Wollen Mills Estate, Mahalaxmi, Mumbai – 400011, Maharashtra,
India |
|
Tel. No.: |
91-22-30016600 |
|
Fax No.: |
91-22-30016818 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Old Mukund Premises, L.B.S. Marg, Kamani, Kurla (West), Mumbai-400070,
Maharashtra, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Sanjay Khatau Asher |
|
Designation : |
Director |
|
Address : |
32 Mody Street, Fort, Mumbai – 400001, Maharashtra, India |
|
Date of Birth/Age : |
26.11.1963 |
|
Date of Appointment : |
29.05.2013 |
|
DIN No.: |
00008221 |
|
|
|
|
Name : |
Mr. Rajesh Satinderpal Jaggi |
|
Designation : |
Diector |
|
Address : |
26 Blue Haven, 2nd Floor, Mount Pleasant Road, Malabar
Hill, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
07.01.1969 |
|
Date of Appointment : |
14.12.2012 |
|
DIN No.: |
00046853 |
|
|
|
|
Name : |
Mr. Haresh Zilu Morajkar |
|
Designation : |
Nominee Director |
|
Address : |
301, Narendra apartments, Jayprakash Nagar, Road No.3, Goregaon
(East), Mumbai – 400063, Maharashtra, India |
|
Date of Birth/Age : |
06.11.1966 |
|
Date of Appointment : |
25.06.2009 |
|
DIN No.: |
00074983 |
|
|
|
|
Name : |
Mr. Jayesh Dhirajlal Pandya |
|
Designation : |
Director |
|
Address : |
901, Universal Heights, 14th Floor, Tardeo Road, Mumbai –
400007, Maharashtra, India |
|
Date of Birth/Age : |
07.08.1968 |
|
Date of Appointment : |
16.09.2006 |
|
DIN No.: |
01341364 |
|
|
|
|
Name : |
Mr. Hasit Kanaiyalal Parikh |
|
Designation : |
Director |
|
Address : |
402, Paradise Apartment, 7th Road, Santacruz (East), Mumbai
– 400055, Maharashtra, India |
|
Date of Birth/Age : |
06.08.1967 |
|
Date of Appointment : |
22.12.2011 |
|
DIN No.: |
01641505 |
|
|
|
|
Name : |
Mr. Rahul Nair |
|
Designation : |
Director |
|
Address : |
1507 Tower D, Ashok Towers, Dr. S. S. Rao Road, Parel, Mumbai –
400012, Maharashtra, India |
|
Date of Birth/Age : |
08.07.1967 |
|
Date of Appointment : |
20.07.2011 |
|
DIN No.: |
01755435 |
|
|
|
|
Name : |
Mr. Jaydeep Janak Bakshi |
|
Designation : |
Director |
|
Address : |
C-82, Shatdal, 5th Floor, Azad Lane, Andheri (West), Mumbai
– 400058, Maharashtra, India |
|
Date of Birth/Age : |
11.09.1970 |
|
Date of Appointment : |
03.11.2010 |
|
DIN No.: |
01892939 |
|
|
|
|
Name : |
Mr. Dipesh Kumar Gandhi |
|
Designation : |
Director |
|
Address : |
TI 31, Ba Datta Apartment Ba, Ramakrishna Mission Marg(Da), Khar(Pa), Mumbai
– 400052, Maharashtra, India |
|
Date of Birth/Age : |
10.12.1976 |
|
Date of Appointment : |
21.06.2012 |
|
DIN No.: |
02079576 |
|
|
|
|
Name : |
Mr. Maximilian Johannes Glasl |
|
Designation : |
Director |
|
Address : |
Mimeweg 3 22529, Hamburg, Germany 22529 |
|
Date of Birth/Age : |
09.05.1973 |
|
Date of Appointment : |
11.03.2013 |
|
DIN No.: |
03396628 |
|
|
|
|
Name : |
Mr. Shrikant Janardan Kambli |
|
Designation : |
Director |
|
Address : |
C 906 Royale Neelkanth Palms, Near Tatvgyan Vidyapith, Kapurbawdi
Junction, Thane – 400607, Maharashtra, India |
|
Date of Birth/Age : |
30.05.1971 |
|
Date of Appointment : |
27.03.2012 |
|
DIN No.: |
05252498 |
|
|
|
|
Name : |
Mr. Amit Rajanikant Shah |
|
Designation : |
Director |
|
Address : |
403, Brij Apartment, Kastur Park, Shimpoli Road, Borivali (West),
Mumbai – 400092, Maharashtra, India |
|
Date of Birth/Age : |
28.02.1974 |
|
Date of Appointment : |
26.07.2013 |
|
DIN No.: |
06651665 |
KEY EXECUTIVES
|
Name : |
Mr. Mr. Prashant Ravindra Parekh |
|
Designation : |
Secretary |
|
Address : |
H-303, RNA Regency Park, Dhanukarwadi, Kandivali (West), Mumbai –
400067, Maharashtra, India |
|
Date of Birth/Age : |
29.10.1979 |
|
Date of Appointment : |
03.08.2013 |
|
PAN No.: |
AQLPP8496N |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
The Phoenix Mills Limited, India |
7558730 |
23.94 |
|
IL and FS Financial Services Limited, India |
9250000 |
29.29 |
|
HBS Realtors Private Limited, India |
1691270 |
5.36 |
|
Horizon Ventures I, Mauritius |
6713865 |
21.26 |
|
IL and FS Trust Company Limited, India |
630161 |
2.00 |
|
IIRF Holdings X Limited, Mauritius |
4162942 |
13.18 |
|
Eder River Limited, Mauritius |
1572873 |
4.98 |
|
Total |
31579841 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
39.42 |
|
Bodies corporate |
60.58 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
They are engaged in Real Estate Development Services (Mall Developers) |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
Standard Chartered Bank, Fort Branch, Mumbai, Maharashtra, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
·
Infrastructure Leasing and Financial Services
Limited, Bandra Kurla Complex, Mumbai – 400051, Maharashtra, India ·
IDBI Trusteeship Services Limited, Asian
Building, Ground Floor, 17. R Kamani Marg, Ballard Estate, Mumbai – 400001,
Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountant |
|
Address : |
714-715, Tulsiani chambers, 212, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
Pan No.: |
AAAFC0662N |
|
|
|
|
Associates : |
The Phoenix Mills Limited |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34000000 |
Equity Shares |
Rs.10/- each |
Rs.340.000 Millions |
|
5150000 |
Preference Shares |
Rs.10/- each |
Rs.51.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.391.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31579841 |
Equity Shares |
Rs.10/- each |
Rs.315.798 Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34000000 |
Equity Shares |
Rs.10/- each |
Rs. 340.000 Millions |
|
5150000 |
Preference Shares |
Rs.10/- each |
Rs. 51.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.391.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25216214 |
Equity Shares |
Rs.10/- each |
Rs. 252.162
Millions |
|
4718758 |
Preference Shares |
Rs.10/- each |
Rs. 47.188
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.299.350
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 |
299.350 |
299.350 |
299.350 |
|
(b) Reserves & Surplus |
3,085.583 |
3,009.400 |
2,789.241 |
|
(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) |
3,384.933 |
3,308.750 |
3,088.591 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5,772.014 |
5,336.701 |
4,474.878 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
511.111 |
392.686 |
190.864 |
|
(d) long-term
provisions |
1.310 |
1.560 |
1.309 |
|
Total Non-current
Liabilities (3) |
6,284.435 |
5,730.947 |
4,667.051 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
276.706 |
401.875 |
0.000 |
|
(b) Trade
payables |
533.464 |
566.385 |
677.003 |
|
(c) Other
current liabilities |
3,315.445 |
3,526.879 |
1,754.327 |
|
(d) Short-term
provisions |
0.024 |
0.029 |
0.023 |
|
Total Current
Liabilities (4) |
4,125.639 |
4,495.168 |
2,431.353 |
|
|
|
|
|
|
TOTAL |
13,795.007 |
13,534.865 |
10,186.995 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
9,488.410 |
5,175.169 |
2,887.526 |
|
(ii)
Intangible Assets |
2.351 |
2.080 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
4,228.652 |
6,604.140 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
246.337 |
267.904 |
0.000 |
|
(d) Long-term Loan and Advances |
77.940 |
78.276 |
59.062 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
9,815.038 |
9,752.081 |
9,550.728 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.107 |
|
(b)
Inventories |
3,117.298 |
3,330.355 |
0.000 |
|
(c) Trade
receivables |
534.555 |
141.415 |
0.000 |
|
(d) Cash
and cash equivalents |
184.221 |
170.371 |
4.756 |
|
(e)
Short-term loans and advances |
141.088 |
137.007 |
631.404 |
|
(f) Other
current assets |
2.807 |
3.636 |
0.000 |
|
Total
Current Assets |
3,979.969 |
3,782.784 |
636.267 |
|
|
|
|
|
|
TOTAL |
13,795.007 |
13,534.865 |
10,186.995 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2749.140 |
357.377 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
2612.689 |
405.095 |
NOT
AVAILABLE |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
136.451 |
(47.718) |
|
|
|
|
|
|
|
|
|
|
Less |
TAX |
60.268 |
(267.878) |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
76.183 |
220.160 |
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.41 |
NA |
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.77 |
61.60 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.01 |
(0.53) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
(0.01) |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.79 |
1.73 |
1.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.96 |
0.84 |
0.26 |
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 |
299.350 |
299.350 |
299.350 |
|
Reserves & Surplus |
2789.241 |
3009.400 |
3085.583 |
|
Net
worth |
3088.591 |
3308.750 |
3384.933 |
|
|
|
|
|
|
long-term borrowings |
4474.878 |
5336.701 |
5772.014 |
|
Short term borrowings |
0.000 |
401.875 |
276.706 |
|
Total
borrowings |
4474.878 |
5738.576 |
6048.720 |
|
Debt/Equity
ratio |
1.449 |
1.734 |
1.787 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2012 |
31.03.2013 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
|
357.377 |
2,749.140 |
|
|
|
|
669.255 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2012 |
31.03.2013 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
|
357.377 |
2,749.140 |
|
Profit |
|
220.160 |
76.183 |
|
|
|
61.60% |
2.77% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT
(Rs.
In Millions)
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long-term debt |
680.575 |
279.502 |
449.960 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
two years |
Yes |
|
12] |
Profitability for last
two 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 |
Yes |
|
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 |
LITIGATION
DETAILS:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10370793 |
13/08/2012 |
1,500,000,000.00 |
IDBI
TRUSTEESHIP SERVICES LIMITED |
ASIAN
BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA -
400001, INDIA |
B45726940 |
|
2 |
10332256 |
24/08/2012
* |
5,750,000,000.00 |
IDBI
TRUSTEESHIP SERVICES LIMITED |
ASIAN
BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA -
400001, INDIA |
B57302531 |
* Date of charge modification
FIXED ASSETS:
·
Freehold Land
·
Electrical Installation
·
Computers
·
Office Equipments
·
Vehicles
·
Furniture and Fixtures
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.60.01 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.81.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
42 |
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.