MIRA INFORM REPORT

 

 

Report No. :

335917

Report Date :

07.08.2015

 

IDENTIFICATION DETAILS

 

Name :

GO AIRLINES (INDIA) LIMITED (w.e.f. March 1, 2011)

 

 

Formerly Known As :

GO AIRLINES (INDIA) PRIVATE LIMITED

 

 

Registered Office :

C/O Britania Industries Limited, A-33, Lawrence Road Industrial Area, New Delhi – 110035

Tel. No.:

91-22-67410000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

29.04.2004

 

 

Com. Reg. No.:

55-217305

 

 

Capital Investment / Paid-up Capital :

Rs.1000.000 Million

 

 

CIN No.:

[Company Identification No.]

U63013DL2004PLC217305

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACG2599K

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Subject is managed as a single operating unit that provides air transportation.

 

 

No. of Employees :

Not Divulged

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (21)

 

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 :

Clear

 

 

Comments :

Subject is an established company having moderate track.

 

The company has incurred a huge accumulated loss which has eroded the net worth of the company.

 

However, business is active. Payment terms are 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.

 

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

 

Rating Agency Name

CARE

Rating

Long term bank facilities BBB- (SO) = Suspended

Rating Explanation

Have moderate degree of safety and carry moderate credit risk.

Date

March 26, 2014

 

 

Rating Agency Name

CARE

Rating

Short term bank facilities A3 (SO) = Suspended

Rating Explanation

Have moderate degree of safety and carry higher credit risk.

Date

March 26, 2014

 

Reason for Suspension: The ratings have been suspended as the company has not furnished the information required by CARE for monitoring of the rating.

 

 

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 DENIED

 

Management Non Co-Operative (91-22-67410000)

 

 

 

LOCATIONS

 

Registered Office :

C/O Britania Industries Limited, A-33, Lawrence Road Industrial Area, New Delhi – 110035, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

manoj.pillai@goair.in

Website :

http://www.goair.in

 

 

Head / Corporate Office :

1st Floor, C-1, Wadia International Centre (WIC), Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India

Tel. No.:

91-22-67410000 (Board Line)

Fax No.:

91-22-67410001

 

 

Airport Offices :

Located at:

 

·         Ahmadabad

·         Baroda

·         Bangalore

·         Chandigarh

·         Chennai

·         Delhi

·         Goa

·         Guwahati

·         Jaipur

·         Jammu

·         Kochi

·         Kolkata

·         Leh, Jammu and Kashmir

·         Lucknow

·         Mumbai

·         Nagpur

·         Patna

·         Port Blair

·         Pune

·         Ranchi

·         Srinagar

 

 

DIRECTORS

 

AS ON 12.09.2014

 

Name :

Mr. Jehangir Nusli Wadia

Designation :

Managing Director

Address :

Springs – I, Flat 3704, GD Ambedkar Marg, Naigaon, Mumbai – 400 014, Maharashtra, India

Date of Birth/Age :

06.07.1973

Date of Appointment :

29.04.2004

PAN No.:

AAAPW0989N

DIN No.:

00088831

 

 

Name :

Mr. Ness Nusli Wadia

Designation :

Director

Address :

Beach House, P. Balu Marg, Prabhadevi, Mumbai – 400025, Maharashtra, India

Date of Birth/Age :

30.05.1971

Date of Appointment :

29.04.2004

PAN No.:

AAAPW0814G

DIN No.:

00036049

 

 

Name :

Mr. Nusli Nevile Wadia

Designation :

Director

Address :

Beach House, P. Balu Marg, Prabhadevi, Mumbai - 400025, Maharashtra, India

Date of Birth/Age :

15.02.1944

Date of Appointment :

01.06.2004

PAN No.:

AAAPW0990M

DIN No.:

00015731

 

 

Name :

Ms. Vinita K. Bali 

Designation :

Director

Address :

Flat No.1104, Tulip Prestige Exotica, Cunningham Crescent Road, Bangalore – 560 001, Karnataka, India

Date of Birth/Age :

11.11.1955

Date of Appointment :

24.08.2006

PAN No.:

AFDPB1852R

DIN No.:

00032940

 

 

Name :

Mr. Vijay Laxman Kelkar

Designation :

Director

Address :

A701, Blossom Boulevard, Plot No.421/2 South Main Road, Koregaon Park, Pune – 411001, Maharashtra, India

Date of Birth/Age :

15.05.1942

Date of Appointment :

21.06.2011

PAN No.:

ACSPK8324P

DIN No.:

00011991

 

 

Name :

Mr. Apurva Shishir Diwanji

Designation :

Director

Address :

Wyoming Building, 5th Floor, Little Gibbs Road, Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

17.01.1969

Date of Appointment :

21.06.2011

PAN No.:

AECPD8099L

DIN No.:

00032072

 

 

Name :

Mr. Nasser Mukhtar Munjee

Designation :

Director

Address :

Enedict Villa House, No. 471, Saud Vaddo, Chorao Island, Tiswadi - 403102, Goa, India

Date of Birth/Age :

18.11.1952

Date of Appointment :

15.02.2013

PAN No.:

AAFPM7588N

DIN No.:

00010180

 

 

KEY EXECUTIVES

 

Name :

Mr. Nikhil Rathod

Designation :

Secretary

Address :

142/D, Lal Baba Haveli, 2nd Floor, Room No. 12,, Bhuleshwar, Mumbai - 400002, Maharashtra, India

Date of Birth/Age :

10.03.1988

Date of Appointment :

14.02.2014

PAN No.:

ANYPR8205R

 

 

Name :

Mr. Siddhartha Datta

Designation :

CFO

Address :

Sapphire Heights, Building No.4, Flat No. 703, Lokhandwala Township, Kandivali (East), Mumbai - 400101, Maharashtra, India

Date of Birth/Age :

19.03.1964

Date of Appointment :

30.05.2014

PAN No.:

ACMPD9090K

 

 

Name :

Giorgio De Roni

Designation :

CEO

Address :

Flat No. 2201-A, 22nd Floor, Lodha Grandeur Building, Sayani Road, Dadar, Mumbai - 400025, Maharashtra, India

Date of Birth/Age :

20.11.1957

Date of Appointment :

30.05.2014

PAN No.:

BIHPR2603G

 

 

MAJOR SHAREHOLDERS

 

As on 12.09.2014

 

Names of Shareholders

 

No. of Shares

Jehangir Nusli Wadia

727500

Ness Nusli Wadia

727500

Sea Wind Investment and Trading Company Limited, India

5000

Nidhivan Investments and Trading Company Private Limited, India

727400

Sahara Investments Private Limited, India

727500

Heera Holdings and Leasing Private Limited, India

727500

Go Investments and Trading Private Limited, India

95596708

R. Chandrasekharan Jointly Go Investments and Trading Private Limited, India

10

Jairaj Bham Jointly Go Investments and Trading Private Limited, India

10

Kaioz Nalladaru Jointly Go Investments and Trading Private Limited, India

10

Narayan Venkat Krishnan Jointly Go Investments and Trading Private Limited, India

10

Tejash Rane Joint Go Investments and Trading Private Limited, India

10

Shankar Kanhere Jointly Go Investments and Trading Private Limited, India

10

S. Raja Jointly With Company Investment and Trading Private Limited, India

10

Bhanwar Singh Jointly with Go Investment and Trading Private Limited

10

Nowrosjee Wadia and Sons Limited, India

757600

Jagdish Shivprasad Desai

300

Abhay Desai Jointly with Amala Desai

1070

Natvarlal Hathising Jhaveri Jointly with Sanjay Natvarlal Jhaveri and Neeta Natvarlal Jhaveri

307

Anil Prataprai Mehta Jointly with Mitesh Anil Mehta

250

Nargish Minocher Homji Jointly with Zarine Minocher Homji and Ardeshir Minocher Homji

100

Alloo Keki Dadiseth

100

Kokila Mukund

307

Surveyor Rattan Mehroo Jointly With Surveyor Shavakshaw Rattan

100

Neena Ratilal Vadhelvala

407

Valji Harilal Thakkar

50

Jyoti Ratilal Vadhelvala

100

Farrokh Rustomji Bengali Jointly with Motamai Bengali

71

Neena Ratilal Vasdhelvala Jointly with Kumar Mahendrabhai Shah

50

 

 

Total

100000000

 

 

As on 12.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

% of Holding

 

Bodies corporate

98.54

Directors or relatives of Directors

1.46

 

 

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is managed as a single operating unit that provides air transportation.

 

 

Products :

Item Code No. (ITC Code)

Product Description

99642410

Domestic Airlines

Passenger and Cargo Services

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt:

Not Divulged

Experience :

Not Divulged

Remark :

--

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt:

Not Divulged

Experience :

Not Divulged

Remark :

--

 

 

No. of Employees :

Not Divulged

 

 

Bankers :
  • The Jammu and Kashmir Bank Limited, Mahakali Caves Road, Andheri (East), Mumbai – 400093, Maharashtra, India
  • Central Bank of India, Corporate Finance Branch, 1st Floor, MMO Building, M.G. Road, Fort, Mumbai – 400 023, Maharashtra, India
  • Axis Bank Limited, Royal Accord IV, Lokhandwala Complex, Andheri (West), Mumbai – 400 053, Maharashtra, India
  • IDBI Bank Limited, 224-A, Mittal Court, A-Wing, Nariman Point, Mumbai – 400 021, Maharashtra, India
  • ICICI Bank Limited, ICICI Bank Towers, Corporate office, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India
  • Central Bank of India, Corporate Finance Branch, 1st Floor, MMO Building, M.G. Road, Fort, Mumbai – 400 023, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Rupee term loan from bank

583.300

1083.300

Loans taken for vehicles

0.000

0.700

 

 

 

SHORT TERM BORROWINGS

 

 

Loans repayable on demand

7012.300

2147.400

 

 

 

Total

7595.600

3231.400

 

 

Auditors :

 

Name :

Kalyaniwalla and Mistry

Chartered Accountants

Address :

Maneekji Wadia Building, 127, Mahatma Gandhi Road, Mumbai – 400023, Maharashtra, India

PAN No. :

AAAFK7554R

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Holding company :

Go Investments and Trading Private Limited

 

 

Entities over which key management personnel and their relatives exercise significant influence
  • Go Holdings Private Limited
  • Go Engineering Private Limited
  • Go Training Private Limited
  • Go Cargo Private Limited
  • Go Airways Private Limited
  • Virtual Education
  • Network Private Limited
  • Integrated Clinical Research Sciences Private Limited
  • Boyztoyz Trading Company Private Limited
  • Paradiso Entertainment Private Limited
  • Trieste Trading Private Limited
  • The Bombay Dyeing and Manufacturing  Company Limited
  • Bombay Burmah Trading Corporation Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

120000000

Equity Shares

Rs.10/- each

Rs.1200.000 Million

50000000

Preference Shares

Rs.10/- each

Rs.500.000 Million

 

 

 

 

 

Total

 

Rs.1700.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100000000

Equity Shares

Rs.10/- each

Rs.1000.000 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

1000.000

700.000

700.000

(b) Reserves & Surplus

(4929.700)

(4984.100)

(6568.900)

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

7.600

0.000

Total Shareholders’ Funds (1) + (2)

(3929.700)

(4276.500)

(5868.900)

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

5746.000

3640.400

5071.900

(b) Deferred tax liabilities (Net)

0.000

0.000

0.500

(c) Other long term liabilities

7.500

7.500

0.000

(d) long-term provisions

46.600

37.900

28.800

Total Non-current Liabilities (3)

5800.100

3685.800

5101.200

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

7252.300

2157.300

1445.200

(b) Trade payables

3073.200

5961.600

3912.600

(c) Other current liabilities

5217.600

6116.300

3366.500

(d) Short-term provisions

7.000

12.400

8.200

Total Current Liabilities (4)

15550.100

14247.600

8732.500

 

 

 

 

TOTAL

17420.500

13656.900

7964.800

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

659.100

684.000

646.400

(ii) Intangible Assets

41.400

19.000

23.600

(iii) Capital work-in-progress

6087.300

5718.400

3179.600

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.100

0.100

0.100

(c) Deferred tax assets (net)

2646.800

2676.100

3082.500

(d)  Long-term Loan and Advances

4431.200

2427.900

576.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

13865.900

11525.500

7508.200

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

783.000

658.900

78.300

(c) Trade receivables

96.500

85.700

7.900

(d) Cash and cash equivalents

223.700

100.700

52.300

(e) Short-term loans and advances

2450.700

1285.700

318.000

(f) Other current assets

0.700

0.400

0.100

Total Current Assets

3554.600

2131.400

456.600

 

 

 

 

TOTAL

17420.500

13656.900

7964.800

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

24354.500

19216.000

14611.000

 

 

Other Income

282.400

244.400

91.800

 

 

TOTAL                                    

24636.900

19460.400

14702.800

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Employees benefits expense

1918.300

1610.000

1314.800

 

 

Other expenses

21257.500

16827.200

14142.300

 

 

Exceptional Item

172.900

(1602.500)

18.500

 

 

TOTAL                                    

23348.700

16834.700

15475.600

 

 

 

 

 

 

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

1288.200

2625.700

(772.800)

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

1122.800

1083.300

993.600

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

165.400

1542.400

(1766.400)

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION        

81.700

72.500

67.800

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

83.700

1469.900

(1834.200)

 

 

 

 

 

Less

TAX                                                                 

29.300

426.500

(497.000)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

54.400

1043.400

(1337.200)

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

0.61

14.75

(19.10)

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

2169.100

3944.900

1611.800

Cash generated from operations

NA

NA

NA

Net cash flow from (used in) operations

(238.900)

2200.300

1282.300

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

PAT / Sales

(%)

0.22

5.43

(9.15)

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

5.29

13.66

(5.29)

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets)

(%)

0.96

27.93

(107.73)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.02)

(0.34)

0.31

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

(3.86)

(2.28)

(1.39)

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.23

0.15

0.05

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Share Capital

700.000

700.000

1000.000

Reserves & Surplus

(6568.900)

(4984.100)

(4929.700)

Share Application money pending allotment

0.000

7.600

0.000

Net worth

(5868.900)

(4276.500)

(3929.700)

 

 

 

 

long-term borrowings

5071.900

3640.400

5746.000

Short term borrowings

1445.200

2157.300

7252.300

Current Maturities of Long term debt

1611.800

3944.900

2169.100

Total borrowings

8128.900

9742.600

15167.400

Debt/Equity ratio

(1.385)

(2.278)

(3.860)

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Sales

14611.000

19216.000

24354.500

 

 

31.517

26.741

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Sales

v

 

 

Profit

 

 

 

 

 

 

 

 

 

 

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

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

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

Yes

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

Yes

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

 

 

 

NOTE

 

The registered address of the company has been shifted from Neville Housej, N Heredia, Margballard Estate, Mumbai – 400001, Maharashtra, India to the present address w.e.f. 30.04.2010

 

 

UNSECURED LOANS

 

PARTICULAR

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Foreign currency term loans from banks

3075.700

2556.400

Rupee term loans from others

1700.000

0.000

Intercorporate deposits

387.000

0.000

 

 

 

SHORT TERM BORROWINGS

 

 

Deposits

240.000

9.900

 

 

 

Total

5402.700

2566.300

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10284372

14/04/2011

366,897.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12138814

2

10284380

14/04/2011

366,897.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12139739

3

10284381

14/04/2011

1,086,398.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12140406

4

10284383

14/04/2011

1,086,398.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12140844

5

10284385

14/04/2011

1,086,398.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12141149

6

10284386

14/04/2011

1,086,398.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12141370

7

10284387

14/04/2011

1,086,398.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12141677

8

10284389

14/04/2011

1,086,398.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12142188

9

10284391

14/04/2011

1,086,398.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12142261

10

10284393

14/04/2011

1,086,398.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12142337

11

10284402

14/04/2011

1,063,266.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12142410

12

10284404

14/04/2011

1,063,266.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12142501

13

10284405

14/04/2011

1,063,266.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12142733

14

10284408

14/04/2011

1,063,266.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12142816

15

10284410

14/04/2011

1,063,266.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12142923

16

10284411

14/04/2011

1,063,266.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12143053

17

10284412

14/04/2011

1,063,266.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12143087

18

10284414

14/04/2011

360,577.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12143178

19

10284415

14/04/2011

1,063,266.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12143210

20

10284417

14/04/2011

1,063,266.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12143251

21

10284418

14/04/2011

1,086,398.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12143335

22

10284419

14/04/2011

366,897.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B12143368

23

10237093

15/07/2010

500,000,000.00

IDBI BANK LIMITED

224-A, MITTAL COURT, A-WING, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

A93173508

24

10179803

05/02/2013 *

12,000,000,000.00

CENTRAL BANK OF INDIA

CORPORATE

FINANCE  BRANCH, 1ST FLOOR, MMO BUILDING, MG ROAD, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA

B68521749

25

10172476

09/10/2013 *

13,220,000,000.00

CENTRAL BANK OF INDIA

CORPORATE

FINANCE  BRANCH, 1ST FLOOR, MMO BUILDING, MG ROAD, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA

B87537981

26

10163461

04/03/2011 *

300,000,000.00

AXIS BANK LIMITED

CREDIT MANAGEMENT CENTER, UNIT 6, CORPORATE PARK, 
SION TROMBAY ROAD, CHEMBUR, MUMBAI, MAHARASHTRA - 400071, INDIA

B07537921

 

* Date of charge modification

 

 

FIXED ASSETS

 

·         Furniture and fixtures

·         Motor vehicles

·         Computer equipments

·         Office equipment

 

 

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 records 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 records 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.63.76

UK Pound

1

Rs.99.60

Euro

1

Rs.69.71

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NKT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

2

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

2

--CREDIT LINES

1~10

2

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

 

 

 

TOTAL

 

21

 

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.