MIRA
INFORM REPORT
|
Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
GOAN HOTELS AND CLUBS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
DB House, Yashodham, General A K Vaidya Marg, Goregaon (East), Mumbai
– 400063, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.10.2004 |
|
|
|
|
Com. Reg. No.: |
11-149219 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 7.825
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U55101MH2004PTC149219 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG11332G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Hospitality Services. |
|
|
|
|
No. of Employees
: |
105 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. Networth of the company has been eroded due to accumulated losses
incurred from its operations during 2013. However, business is active. Payment terms are reported to be slow. The company can be considered for business dealings on safe and
secured trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.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.
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 PARTED BY
|
Name : |
Mr. Noor Khan |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-40778600 |
|
Date : |
23.05.2014 |
LOCATIONS
|
Registered/ Head Office : |
DB House, Yashodham, General A K Vaidya Marg, Goregaon (East), Mumbai
– 400063, Maharashtra, India |
|
Tel. No.: |
91-22-40778600 |
|
Fax No.: |
91-22-28422444 |
|
E-Mail : |
|
|
|
|
|
Hotel : |
Grand Hyatt - Aldeia De, Bambolim - 403201, Goa, India |
|
Tel No.: |
91-832-6451490/ 6451764 |
DIRECTORS
AS ON 24.09.2013
|
Name : |
Mr. Asif Yusuf Balwa |
|
Designation : |
Director |
|
Address : |
5th Floor, Razia Manor, Off Alrneida Park, Bandra (West), Mumbai -
400050, Maharashtra, India |
|
Date of Birth/Age : |
07.06.1970 |
|
Date of Appointment : |
28.04.2012 |
|
DIN No.: |
00017934 |
|
|
|
|
Name : |
Mr. Rajiv Batekrishna Agarwal |
|
Designation : |
Director |
|
Address : |
B-802, Shagun
Tower, Gen A. K. Vaidya Marg, Goregoan (East), Mumbai - 400063, Maharashtra,
India |
|
Date of Birth/Age : |
18.03.1962 |
|
Date of Appointment : |
28.04.2012 |
|
DIN No.: |
00030453 |
|
|
|
|
Name : |
Ms. Sunita Goenka |
|
Designation : |
Additional director |
|
Address : |
33-34, Shruti Apartment, Gen A.K. Vaidya Marg, Goregaon (East), Mumbai
- 400063, Maharashtra, India |
|
Date of Birth/Age : |
21.01.1961 |
|
Date of Appointment : |
26.02.2011 |
|
DIN No.: |
01010145 |
|
|
|
|
Name : |
Mr. Salim Usman Balwa |
|
Designation : |
Additional director |
|
Address : |
Aaliya Manor, 38, TPS-VI, 9th Road,, Near Almeida Park, Bandra, Mumbai
- 400050, Maharashtra, India |
|
Date of Birth/Age : |
24.11.1972 |
|
Date of Appointment : |
26.02.2011 |
|
DIN No.: |
00017899 |
KEY EXECUTIVES
|
Name : |
Mr. Noor Khan |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Shahid U. Balwa, nominee of D B Hospitality Private Limited |
500 |
0.64 |
|
Vinod K. Goenka, nominee of D B Hospitality Private Limited |
500 |
0.64 |
|
D B Hospitality Private Limited |
77250 |
98.72 |
|
|
|
|
|
Total |
78250 |
100.00 |
AS ON 24.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Hospitality Services. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
105 (Approximately) |
|||||||||||||||||||||||||||
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|||||||||||||||||||||||||||
|
Bankers : |
v IDBI Bank Limited 224-A, Mittal Court, A-Wing, 2nd Floor, Nariman Point,, Mumbai - 400021, Maharashtra, India v Yes Bank Limited 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli,, Mumbai - 400018, Maharashtra, India v Oriental Bank of Commerce Goregaon (East), Mumbai, Maharashtra, India v ICICI Bank
Limited |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M A Parikh and Company Chartered Accountants |
|
Address : |
Yusuf Building, 2nd Floor, 43, Mahatma Gandhi Road, Fort, Mumbai – 400001,
Maharashtra, India |
|
Tel. No.: |
91-22-22041018/ 22043850/ 22029187 |
|
Fax No.: |
91-22-22874524 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFM1433H |
|
|
|
|
Holding Company : |
D B Hospitality Private Limited [U70100MH2004PTC149602] |
|
|
|
|
Fellow Subsidiaries : |
v B D and P Hotels
(India) Private Limited v Dynamix Balwas
Resorts Private Limited v D B Hotels
(India) Private Limited (Formerly known as Heaven Star Realty Private Limited) |
|
|
|
|
Enterprises on which directors of the company exercise significant
influence (Associated Enterprises) : |
v Goan Real Estate
and Construction Private Limited v D B Realty
Limited v Eon Aviation
Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs. 100/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
78,250 |
Equity Shares |
Rs. 100/- each |
Rs. 7.825
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 |
7.825 |
7.825 |
7.825 |
|
(b) Reserves & Surplus |
(286.727) |
306.518 |
618.000 |
|
(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) |
(278.902) |
314.343 |
625.825 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5595.097 |
5476.072 |
2912.574 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
2.847 |
21.716 |
55.887 |
|
(d) long-term
provisions |
15.804 |
8.307 |
7.414 |
|
Total Non-current
Liabilities (3) |
5613.748 |
5506.095 |
2975.875 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
486.062 |
52.959 |
948.137 |
|
(b)
Trade payables |
73.177 |
39.953 |
0.000 |
|
(c)
Other current liabilities |
393.126 |
388.241 |
284.717 |
|
(d) Short-term
provisions |
0.193 |
0.263 |
0.057 |
|
Total Current
Liabilities (4) |
952.558 |
481.416 |
1232.911 |
|
|
|
|
|
|
TOTAL |
6287.404 |
6301.854 |
4834.611 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
5340.854 |
4694.560 |
5.149 |
|
(ii)
Intangible Assets |
17.083 |
17.355 |
0.000 |
|
(iii)
Capital work-in-progress |
122.854 |
783.006 |
4515.769 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
557.520 |
557.520 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
24.362 |
7.368 |
218.422 |
|
(e) Other
Non-current assets |
17.998 |
22.800 |
7.726 |
|
Total Non-Current
Assets |
6080.671 |
6082.609 |
4747.066 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
19.119 |
16.097 |
0.000 |
|
(c)
Trade receivables |
33.073 |
28.378 |
0.000 |
|
(d) Cash
and cash equivalents |
121.082 |
163.701 |
79.223 |
|
(e)
Short-term loans and advances |
29.241 |
9.985 |
8.079 |
|
(f)
Other current assets |
4.218 |
1.084 |
0.243 |
|
Total
Current Assets |
206.733 |
219.245 |
87.545 |
|
|
|
|
|
|
TOTAL |
6287.404 |
6301.854 |
4834.611 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
914.969 |
462.860 |
0.000 |
|
|
|
Other Income |
7.441 |
4.634 |
0.000 |
|
|
|
TOTAL (A) |
922.410 |
467.494 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Food and Beverages Consumed |
93.785 |
52.567 |
0.000 |
|
|
|
Employees benefits expense |
209.753 |
131.089 |
0.000 |
|
|
|
Other Operating Expenses |
197.022 |
93.077 |
0.000 |
|
|
|
Administrative and General Expenses |
140.634 |
89.169 |
0.000 |
|
|
|
TOTAL (B) |
641.194 |
365.902 |
0.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
281.216 |
101.592 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
727.563 |
335.102 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(446.347) |
(233.510) |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
146.898 |
77.996 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(593.245) |
(311.506) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
(0.024) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(593.245) |
(311.482) |
0.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Rooms, Restaurants, Banquets and Other Services |
113.816 |
51.880 |
0.000 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
4.260 |
130.278 |
383.078 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(7581) |
(3981) |
0.00 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
1199.000 |
|
|
|
|
|
The above information has been parted by Mr. Noor Khan (Accounts
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(64.31) |
(66.63) |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(64.84) |
(67.30) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(10.58) |
(6.28) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
2.13 |
(0.99) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(21.80) |
17.59 |
6.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.22 |
0.46 |
0.07 |
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 |
7.825 |
7.825 |
7.825 |
|
Reserves & Surplus |
618.000 |
306.518 |
(286.727) |
|
Net
worth |
625.825 |
314.343 |
(278.902) |
|
|
|
|
|
|
long-term borrowings |
2912.574 |
5476.072 |
5595.097 |
|
Short term borrowings |
948.137 |
52.959 |
486.062 |
|
Total
borrowings |
3860.711 |
5529.031 |
6081.159 |
|
Debt/Equity
ratio |
6.169 |
17.589 |
(21.804) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
0.000 |
462.860 |
914.969 |
|
|
|
|
97.677 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
0.000 |
462.860 |
914.969 |
|
Profit/ (Loss) |
0.000 |
(311.482) |
(593.245) |
|
|
|
(67.30%) |
(64.84%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long term debts |
10.178 |
0.162 |
162.460 |
|
|
|
|
|
|
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 |
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 |
No |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date: 10.04.2014 |
|
Stamp No: ARBAPL/655/2014
Filing Date: 10.04.2014 |
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Petitioner: M/S. SHARMA KALYPSO PVT.LTD Respondent: GOAN
HOTELS AND CLUBS PRIVATE LIMITED Petn.Adv: SANGITA SHAHU SURVASE (I2830) District: OUTSIDE MAHARASHTRA |
|
Bench: SINGLE Status: Pre-Admission
Category: ARBITRATION APPLICATIONS |
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Act: Arbitration Act 1940
Under Section: 11 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10314069 |
23/09/2011 |
2,320,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA, DR. |
B23892763 |
|
2 |
10314071 |
29/02/2012 * |
5,000,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B35768589 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
From Holding
Company Towards Acquisition of Investment
|
557.520 |
557.520 |
|
For Hotel Project |
447.382 |
318.179 |
|
|
|
|
|
Total |
1004.902 |
875.699 |
NATURE OF
OPERATIONS
The Company is engaged in the business of hospitality and has set up a
Five Star Deluxe Hotel at Goa. The commercial operations thereat had commenced
effective 01st June, 2011 in phases. Construction work for some
phases are in progress as of the year-end. The said Five Star Deluxe Hotel is
run under the brand name of “Grand Hyatt” and for the purpose, the Company has
entered into agreements with Hyatt International Corporation, USA and its
associates.
OPERATIONS
The Company has started its operation through Hotel Grand Hyatt at Goa
and the Directors are hopeful that the said Hotel is going to contribute
considerable revenue in coming years.
FIXED ASSETS:
v Land
v Building
v Furniture and
Fixture
v Plant and
Machinery
v Computer and
Related Equipments
v Vehicles
v Software’s
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. 58.48 |
|
|
1 |
Rs. 98.67 |
|
Euro |
1 |
Rs. 79.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--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 |
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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
12 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.