MIRA INFORM REPORT
|
Report Date : |
21.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
MARATHON REALTY PRIVATE LIMITED (w.e.f. 18.12.2007) |
|
|
|
|
Formerly Known
As : |
MARATHON REALTY LIMITED |
|
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|
|
Registered
Office : |
702, Marathon Max, Mulund Goregaon Link Road, Mumbai-400080,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
23.12.1994 |
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Com. Reg. No.: |
11-084037 |
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Capital
Investment / Paid-up Capital : |
Rs.141.123 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70100MH1994PTC084037 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM3361R |
|
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Construction Activity |
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|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. 23 AC for the year 2014 could not be made available from any source. As per financials of 2013, external borrowing of the company has
increased as compared to previous year. Further, the rating also take into
consideration the prevailing slowdown in the construction industry. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central Bureau
of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as
bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs could
number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
Date: 11.04.2013
CARE has withdrawn the BB rating assigned to
the long term bank facility of Marathon Realty Private Limited aggregating Rs.2035.400
Millions with immediate effect, as the rated facility was repaid in full and
there is no amount outstanding with respect to the same.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-CORPORATIVE (91-22-67248484)
LOCATIONS
|
Registered Office : |
702, Marathon Max, Mulund Goregaon Link Road, Mumbai-400080,
Maharashtra, India |
|
Tel. No.: |
91-22-67248484/8421/67248484/67728450/25612999 |
|
Fax No.: |
91-22-67728405/25646008 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Chetan Ramniklal Shah |
|
Designation : |
Director |
|
Address : |
Kailash Bunglow, Devidatal Road, Mulund (West), Mumbai – 400080,
Maharashtra, India |
|
Date of Birth/Age : |
13.03.1956 |
|
Date of Appointment : |
23.12.1994 |
|
DIN No.: |
00135296 |
|
PAN No.: |
AAJPS0811J |
|
|
|
|
Name : |
Mr. Mayur Ramniklal Shah |
|
Designation : |
Director |
|
Address : |
Kailash Bunglow, Devidatal Road, Mulund (West), Mumbai – 400080,
Maharashtra, India |
|
Date of Birth/Age : |
13.04.1962 |
|
Date of Appointment : |
23.12.1994 |
|
DIN No.: |
00135504 |
|
PAN No.: |
AAJPS2829Q |
KEY EXECUTIVES
|
Name : |
Mr. Virendra |
|
Designation : |
Secretarial Department |
|
|
|
|
Name : |
Mr. Ritesh Mata |
|
Designation : |
Assistant Finance Manager |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of
Shareholders (Equity Share) |
|
No. of Shares |
|
Chetan Shah S/o Ramnlklal Shah |
|
130763 |
|
Mayur Shah S/o Ramnlklal Shah |
|
100000 |
|
Ansuya Shah W/o Ramnlklal Shah |
|
100000 |
|
Ramnlklal Shah S/o Zaverchand Shah |
|
313000 |
|
Rita Shah W/o Dhanraj Shah |
|
36000 |
|
Shailaja Shah W/o Chetan Shah |
|
346250 |
|
Sonal Shah W/o Mayur Shah |
|
226000 |
|
Ramnlklal Shah (HUF) |
|
2500 |
|
Mayur Shah {HUF) |
|
72500 |
|
Gargl Chetan Shah D/o Chetan Shah |
|
475000 |
|
Parmeet Mayui Shah S/o Mayur Shah |
|
550000 |
|
Bhaiubhal Shah |
|
10 |
|
Lyoti Shah W/o Kishor Shah |
|
20 |
|
Abhay Tlbrewala |
|
1 |
|
Anandpra Vash Tlbrewala (HUF) |
|
1 |
|
Ashok Tlbrewala (HUF) |
|
1 |
|
Kanhalyala! Tlbrewala (HUF) |
|
1 |
|
Ruchlka Tlbrewala |
|
1 |
|
Vljayaben R. Malde |
|
1 |
|
Nilesh Mulji Dodhla (HUF) |
|
1 |
|
Total |
|
2352050 |
|
Names of
Shareholders (Preference Shares) |
|
No. of Shares |
|
Chetan Shah S/o Ramnlklal Shah |
|
130770 |
|
Mayur Shah S/o Ramnlklal Shah |
|
100000 |
|
Artsuya Shah W/o Ramnlklal Shah |
|
100000 |
|
Ramnlklal Shah S/o Zaverchand Shah |
|
313000 |
|
Rita Shah W/o DhanraJ Shah |
|
36000 |
|
Shallaja Shah W/o Chetan Shah |
|
346250 |
|
Sonal Shah W/o Mayur Shah |
|
226000 |
|
Ramnlklal Shah (HUF] |
|
2500 |
|
Mayur Shah (HUF) |
|
72500 |
|
Gargl Chetan Shah D/o Chetan Shah |
|
475000 |
|
Parmeet Mayur Shah S/o Shrl Mayur Shah |
|
550000 |
|
Bhatuohal Shah |
|
10 |
|
Jyoti Shah W/o Kishor Shah |
|
20 |
|
Total |
|
2352050 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.99 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction Activity |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
Thacker Butala and Associates Chartered Accountants |
|
Address : |
2nd Floor, Ismile Building, 381, D N Road, Mumbai – 400001, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFT2158F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
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Associates : |
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CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3100000 |
Equity Shares |
Rs.10/- each |
Rs.31.000 Millions |
|
2400000 |
0% Non-cumulative Preference Shares |
Rs.50/- each |
Rs.120.000 Millions |
|
100000 |
11% Cumulative Redeemable Cumulative Preference Shares |
Rs.100/-each |
Rs.10.000 Millions |
|
|
Total |
|
Rs.161.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2352050 |
Equity Shares |
Rs.10/- each |
Rs.23.521
Millions |
|
2352050 |
0% Non-cumulative Preference Shares |
Rs.50/- each |
Rs.117.602 Millions |
|
|
Total |
|
Rs.141.123 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 |
141.123 |
141.123 |
141.123 |
|
(b) Reserves & Surplus |
3134.260 |
3043.162 |
2987.337 |
|
(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) |
3275.383 |
3184.285 |
3128.460 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5366.815 |
708.175 |
2954.027 |
|
(b) Deferred tax liabilities (Net) |
1.758 |
(20.397) |
1.995 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
5368.573 |
687.778 |
2956.022 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3201.819 |
2685.087 |
2532.862 |
|
(b) Trade
payables |
1411.841 |
181.409 |
204.408 |
|
(c) Other
current liabilities |
1271.132 |
5221.554 |
2505.153 |
|
(d) Short-term
provisions |
4.537 |
10.263 |
22.135 |
|
Total Current
Liabilities (4) |
5889.329 |
8098.313 |
5264.558 |
|
|
|
|
|
|
TOTAL |
14533.285 |
11970.376 |
11349.040 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
418.634 |
425.604 |
354.208 |
|
(ii)
Intangible Assets |
0.674 |
1.123 |
1.871 |
|
(iii) Capital
work-in-progress |
0.046 |
5.549 |
65.859 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3172.763 |
2357.287 |
1990.552 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
42.203 |
48.495 |
285.200 |
|
(e) Other
Non-current assets |
0.000 |
8.604 |
30.800 |
|
Total Non-Current
Assets |
3634.320 |
2846.662 |
2728.490 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
400.000 |
0.000 |
302.250 |
|
(b)
Inventories |
7214.259 |
6541.995 |
5350.087 |
|
(c) Trade
receivables |
498.465 |
262.017 |
251.433 |
|
(d) Cash
and cash equivalents |
645.767 |
171.282 |
94.478 |
|
(e) Short-term
loans and advances |
2140.474 |
2148.420 |
2622.302 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
10898.965 |
9123.714 |
8620.550 |
|
|
|
|
|
|
TOTAL |
14533.285 |
11970.376 |
11349.040 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1511.108 |
931.906 |
434.369 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
181.625 |
77.784 |
75.322 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
40.987 |
42.574 |
23.667 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
140.638 |
37.210 |
51.655 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
49.540 |
21.614 |
13.879 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
91.098 |
58.824 |
37.776 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.37 |
12.50 |
8.03 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin PAT/ Sales |
(%) |
6.03 |
6.31 |
8.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.24 |
0.39 |
0.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.01 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.62 |
1.07 |
1.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.85 |
1.13 |
1.64 |
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 |
141.123 |
141.123 |
141.123 |
|
Reserves & Surplus |
2987.337 |
3043.162 |
3134.260 |
|
Net
worth |
3128.460 |
3184.285 |
3275.383 |
|
|
|
|
|
|
long-term borrowings |
2954.027 |
708.175 |
5366.815 |
|
Short term borrowings |
2532.862 |
2685.087 |
3201.819 |
|
Total
borrowings |
5486.889 |
3393.262 |
8568.634 |
|
Debt/Equity
ratio |
1.754 |
1.066 |
2.616 |
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 |
434.369 |
931.906 |
1511.108 |
|
|
|
114.542 |
62.152 |
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 |
434.369 |
931.906 |
1511.108 |
|
Profit |
37.776 |
58.824 |
91.098 |
|
|
8.70% |
6.31% |
6.03% |
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 |
644.725 |
3873.538 |
NA |
|
Total |
644.725 |
3873.538 |
NA |
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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) |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans repayable on demand from others |
3178.198 |
2685.087 |
|
Loans and advances from related parties |
23.621 |
0.000 |
|
Total |
3201.819 |
2685.087 |
FUTURE OUTLOOK
With ambitious and cautious plans the Company expects to rise to the position in the elite league of developers. Economies of scale, world class quality construction, identification of market needs and best of marketing efforts will add further to the bottom line. The Company with its sustained and consistent efforts will achieve its targets well before deadline.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10455186 |
03/09/2013 |
2,250,000.00 |
HDFC BANK LIMITED |
HDFC Bank House Senapati Bapat
Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
B87599080 |
|
2 |
10438130 |
15/07/2013 |
500,000,000.00 |
ICICI HOME FINANCE COMPANY
LIMITED |
ICICI Bank Towers,
Bandra-Kurla, Complex, Mumbai, Maharashtra - 400051, INDIA |
B80162373 |
|
3 |
10436471 |
27/06/2013 |
300,000,000.00 |
CAPITAL FIRST LIMITED |
15th Floor, Tower -2,
Indiabulls Finance Centre, |
B79443172 |
|
4 |
10415094 |
25/03/2013 |
900,000,000.00 |
CAPITAL FIRST LIMITED |
15th Floor, Tower -2,
Indiabulls Finance Centre, |
B71818801 |
|
5 |
10420539 |
19/03/2013 |
1,000,000,000.00 |
IL AND FS TRUST COMPANY
LIMITED |
IL and FS Financial Centre Plot
No C22 G Block Bandra, Kurla Complex Bandra East, Mumbai, Maharashtra -
400051, India |
B72631849 |
|
6 |
10406181 |
14/02/2013 |
3,520,000.00 |
HDFC BANK LIMITED |
HDFC Bank House Senapati Bapat
Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
B68689165 |
|
7 |
10400541 |
04/01/2013 |
900,000,000.00 |
IL AND FS TRUST COMPANY
LIMITED |
IL and FS FINANCIAL CENTRE PLOT
NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra |
B67067397 |
|
8 |
10390631 |
04/12/2012 |
2,190,000.00 |
HDFC BANK LIMITED |
HDFC Bank House Senapati Bapat
Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
B63597447 |
|
9 |
10388962 |
21/11/2012 * |
630,000,000.00 |
IL AND FS TRUST COMPANY
LIMITED |
IL and FS FINANCIAL CENTRE PLOT
NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra |
B64361074 |
|
10 |
10387894 |
28/09/2012 |
12,200,000.00 |
HDFC BANK LIMITED |
HDFC Bank House Senapati Bapat
Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
B62527155 |
|
11 |
10364560 |
17/09/2013 * |
2,000,000,000.00 |
HOUSING DEVELOPMENT FINANCE
CORPORATION LIMITED |
RAMON HOUSE 169 BACKBAY RECLAMATION,
H T PAREKH MARG, MUMBAI, Maharashtra - 400020, INDIA |
B85484194 |
|
12 |
10323066 |
10/08/2011 |
1,000,000,000.00 |
ICICI HOME FINANCE COMPANY
LIMITED |
ICICI Bank Towers,
Bandra-Kurla, Complex, Mumbai, Maharashtra - 400051, INDIA |
B23254063 |
|
13 |
10309288 |
10/08/2011 |
1,000,000,000.00 |
ICICI HOME FINANCE COMPANY
LIMITED |
ICICI Bank Towers,
Bandra-Kurla, Complex,, Mumbai, Maharashtra - 400051, INDIA |
B22165864 |
|
14 |
10273052 |
04/02/2011 |
350,000,000.00 |
STANDARD CHARTERED BANK |
SME Credit, 23-25, M G Road,
Fort, Mumbai, Maharashtra - 400001, INDIA |
B07322662 |
|
15 |
10194954 |
08/12/2009 |
17,461,440.00 |
HDFC BANK LIMITED |
HDFC Bank House Senapati Bapat
Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
A76832062 |
|
16 |
90214078 |
31/03/2004 |
1,000,000.00 |
HOUSING DEVELOPMENT FINANACE
CORPORATION LIMITED |
RAMON HOUSE; H.T PARAKH MARG.,
169; BACAKBAY RAECLAMATION; CHURCHGATE, MUMBAI, Maharashtra - 400020, INDIA |
- |
|
17 |
90211112 |
08/09/2004 * |
25,000,000.00 |
UTI BANK LIMITED |
GROUND FLOOR; SAKAR-1; OPP.
ASHRAM ROAD, AHENDABAD, Gujarat - 380009, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer 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.62.10 |
|
|
1 |
Rs.97.32 |
|
Euro |
1 |
Rs.77.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
31 |
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.