MIRA INFORM REPORT

 

 

Report No. :

334004

Report Date :

01.08.2015

           

IDENTIFICATION DETAILS

 

Name :

ARVIND FIRE HOMES LLP

 

 

Registered Office :

24, Government Servant Society, Near Municipal Market, Off. C. G. Road, Navrangpura, Ahmedabad – 380009, Gujarat

Tel. No. :

91-79-30137038

 

 

Financials (as on) :

31.03.2015

 

 

Country :

India

 

 

Date of Incorporation :

21.08.2012

 

 

Total Obligation of Contribution :

Rs. 0.100 Million

 

 

LLPIN :

AAB-0742

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Real Estate Developer

 

 

No. of Employees :

Not Divulged

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (11)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

Limited with full security

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear 

 

 

Comments :

Subject is a subsidiary of “Ärvind Infrastructure Limited”. It is a limited liability partnership concern having moderate track record.

 

For the financial year ended 2015, subject has not undertaken any business operations and it has huge pre operating expenses. Due to huge expenses, net worth of subject has been eroded.

 

As per the status in the Registrar of Companies business appears to be active. Payment terms are unknown.

 

In view of absence of revenue profile, the limited liability partnership concern can be considered for business dealing 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.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

NOT AVAILABLE

 

 

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 31-03-2013.

 

 

INFORMATION DECLINED BY

 

Name :

Ms. Ritika Panchal

Designation :

Finance Manager

Contact No.:

91-79-30137038

Date :

31.07.2015

 

 

LOCATIONS

 

Registered Office :

24, Government Servant Society, Near Municipal Market, Off. C. G. Road, Navrangpura, Ahmedabad – 380009, Gujarat, India

Tel. No. :

91-79-30137038

Fax No. :

Not Available

E-Mail :

Vicky.sindhi@arvind.in

 

 

PARTNERS

 

Name :

Mr. Kamal Shamlal Singal

Designation :

Chief Executive Officer

Address :

405, F Road, Ideal Home society, Rajrajeshwari Nagar, Bangalore – 560098, Karnataka, India

Date of Birth/Age :

02.03.1972

DPIN :

05008865

 

 

Name :

Mr. Sanjaykumar Chimanlal Agrawal

Designation :

Director

Address :

Survey No. 621, Jaygopal Farm, Makarba, Ahmedabad – 380051, Gujarat, India

Date of Birth/Age :

28.02.1975

DPIN :

05008093

 

 

KEY EXECUTIVES

 

Name :

Ms. Ritika Panchal

Designation :

Finance Manager

 

 

CONTRIBUTION DETAILS

 

Names of Persons

Monetary value of contribution

(Rs. In Million)

Arvind Hebbal Homes Private Limited, India

0.001

Arvind Infrastructure Limited, India

0.099

 

 

Total

0.100

 

 

 

BUSINESS DETAILS

 

Line of Business :

Real Estate Developer

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

Bank Name:

Not Divulged

Branch:

Not Divulged

Name of the Person (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks: Not Divulged

 

Auditors :

 

Name :

G. K. Choksi and Company

Character Accountants

Address:

Ahmedabad, Gujarat, India

 

 

Holding Company and Partner in LLP :

Arvind Infrastructure Limited

 

 

Fellow Subsidiary Enterprise and Partner in LLP

Arvind Hebbal Homes Private Limited

 

 

 

 

CAPITAL STRUCTURE

 

Partner’s Initial Contribution

As at

31.03.2015

Arvind Infrastructure Limited

Rs. 0.099 Million

Arvind Hebbal Homes Private Limited

Rs. 0.001Million

 

 

Total

Rs. 0.100 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2015

31.03.2014

31.03.2013

I.        EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Partner’s Initial Contribution

0.100

0.100

0.100

(b) Undistributed Profit/ (Loss)

(2.905)

0.000

0.000

(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)

(2.805)

0.100

0.100

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.026

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

(e) Partner’s Additional Contribution

73.594

(0.024)

0.000

Total Non-current Liabilities (3)

73.620

(0.024)

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

7.425

0.024

0.000

(c) Other current liabilities

98.236

0.000

0.000

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

105.661

0.024

0.000

 

 

 

 

TOTAL

176.476

0.100

0.100

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

0.969

0.000

0.000

(ii) Intangible Assets

0.000

0.000

0.000

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

0.969

0.000

0.000

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

129.615

0.000

0.000

(c) Trade receivables

0.000

0.000

0.000

(d) Cash and cash equivalents

6.390

0.000

0.000

(e) Short-term loans and advances

39.502

0.000

0.000

(f) Other current assets

0.000

0.100

0.100

Total Current Assets

175.507

0.100

0.100

 

 

 

 

TOTAL

176.476

0.100

0.100

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Income

0.000

0.000

0.000

 

 

Other Income

0.000

0.000

0.000

 

 

TOTAL                                    

0.000

0.000

0.000

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Project Expenses

128.856

0.000

 

 

 

Changes in inventories

(128.934)

0.000

 

 

 

Administrative and Other Expenses

2.886

0.024

 

 

 

TOTAL                                    

2.808

0.024

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

(2.808)

(0.024)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

0.071

0.000

(Including Depreciation)

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

(2.879)

(0.024)

0.000

 

 

 

 

 

Less

TAX                                                                 

0.026

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

(2.905)

(0.024)

0.000

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(1.63)

(24.00)

0.00

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

1.03

(0.24)

0.00

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

(26.24)

(0.24)

0.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.66

4.17

0.00

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Partner’s Initial Contribution

0.100

0.100

0.100

Undistributed Profit/ (Loss)

0.000

0.000

(2.905)

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

0.100

0.100

(2.805)

 

 

 

 

Long-term borrowings

0.000

0.000

0.000

Short term borrowings

0.000

0.000

0.000

Total borrowings

0.000

0.000

0.000

Debt/Equity ratio

0.000

0.000

0.000

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report

(Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

No

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

 

 

FIXED ASSETS:

 

·         Plant and Machinery

Furniture and Future

Office Equipment’s

Computer 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.64.01

UK Pound

1

Rs.99.84

Euro

1

Rs.70.16

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ARC

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

1

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

--

--PROFITABILITY

1~10

--

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

--

--CREDIT LINES

1~10

2

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

11

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

 

 

 

 

 

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.