MIRA INFORM REPORT
|
Report No. : |
336728 |
|
Report Date : |
17.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
PROVENANCE LAND PRIVATE LIMITED (w.e.f. 25.03.2013) |
|
|
|
|
Formerly Known
As : |
MAGUS ESTATES AND HOTEL LIMITED (w.e.f 28.01.2008) MAGUS ESTATES AND HOTELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 1/136, Dr. E. Moses Road, Near Jijamata Nagar, Worli, Mumbai
- 400018, Maharashtra |
|
Tel. No.: |
91-22-24818910 |
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|
|
|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
13.11.2001 |
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Com. Reg. No.: |
11-255339 |
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Capital
Investment / Paid-up Capital : |
Rs. 890.855 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH2001PTC255339 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AADCM1868J |
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|
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Hotel Business |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
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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 moderate track. For the financial year ended 2014, the company’s sales turnover has
increased as against previous year record however it failed to maintain
profitability of the company. Further, rating remain constrained on account of company’s moderate
financial risk profile marked by small networth base and unfavourable gap
between trade payables to its receivables which may act as threat to its
liquidity profile of the company. However, trade relations are reported as fair. Business is active.
Payment terms 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.
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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
Management Non- corporative 91-22-241818910
LOCATIONS
|
Registered Office : |
Plot No. 1/136, Dr. E. Moses Road, Near Jijamata Nagar, Worli, Mumbai
- 400018, Maharashtra |
|
Tel. No.: |
91-22-24818910 |
|
Fax No.: |
91-22-24818920 |
|
E-Mail : |
rbansal@provenanceland.com |
DIRECTORS
As on 27.09.2014
|
|
|
|
Name : |
Mr. Adarsh Rajkumar Jatia |
|
Designation : |
Director |
|
Address : |
5th Floor, Krishnabad Biulding, |
|
Date of Birth/Age : |
15.11.1980 |
|
Date of Appointment : |
03.05.2004 |
|
DIN NO.: |
00136214 |
|
|
|
|
Name : |
Mr. Rajkumar Subhkaran Jatia |
|
Designation : |
Director |
|
Address : |
5/F, |
|
Date of Birth/Age : |
14.10.1951 |
|
Date of Appointment : |
13.11.2001 |
|
DIN NO.: |
00136303 |
|
|
|
|
Name : |
Mr. Jitender Balakrishnan |
|
Designation : |
Director |
|
Address : |
208, Tower - 2 Casa Grande, Senapati Bapat Marg, Lower Parel, Mumbai - 400013, Maharashtra, India |
|
Date of Appointment : |
03.09.2010 |
|
DIN NO.: |
00028320 |
|
|
|
|
Name : |
Ms. Sunanda Bagrodia |
|
Designation : |
Director |
|
Address : |
15-B-2, Prithvi Apartment, |
|
Date of Birth/Age : |
01.02.1960 |
|
Date of Appointment : |
02.03.2006 |
|
DIN NO.: |
00162829 |
|
|
|
|
Name : |
Mr. Dilip Jayantilal Thakkar |
|
Designation : |
Director |
|
Address : |
Little Gibbs Road, 12/B Acropolis, Malabar Hill, Mumbai - 400006, Maharashtra, India |
|
Date of Appointment : |
03.12.2010 |
|
DIN NO.: |
00007339 |
|
|
|
|
Name : |
Mr. Michael Anthony Crawford |
|
Designation : |
Additional director |
|
Address : |
24535, Town Center Dr Apt 6110, Valencia Ca, 91355, , United States of America |
|
Date of Appointment : |
16.01.2015 |
|
DIN NO.: |
07057144 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Springleaf Investment Pte Limited |
|
70784583 |
|
Avenue Technologies Private Limited, India |
|
1595250 |
|
Nidhivan Project Consultancy Service |
|
1750000 |
|
Sunanda Bagrodia |
|
4258325 |
|
India Realty Investor Limited, India |
|
4491508 |
|
Hridayangam Bagrodia |
|
112500 |
|
Business Holding Pte Limited, Singapore |
|
1523347 |
|
Pricely Investment Ptd Limited, Singapore |
|
1523347 |
|
Peak Holding Pte Limited, Singapore |
|
1523347 |
|
Pep Holding Pte Limited, Singapore |
|
1523347 |
|
Total |
|
89085554 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
91.33 |
|
Bodies corporate |
3.76 |
|
Directors or relatives of Directors |
4.91 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Hotel Business |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
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 : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Sushil Budhia Associates Chartered Accountants |
|
Address : |
106 & 107 Shrikant Chambers,V N Purav Marg,Chembur, Mumbai -400071, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ABEFS9500J |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates: |
CIN NO.:U70102MH2010PTC209835
CIN NO.:U55101DL2005PLC143141
CIN NO.:U99999MH1999PTC133968 |
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Other Related Party: |
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Ultimate Holding Company: |
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CAPITAL STRUCTURE
As on 27.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs. 1000.000 Million |
|
|
|
|
|
|
40000000 |
Preference Shares |
Rs.10/- each |
Rs. 400.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 1400.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
89085554 |
Equity Shares |
Rs.10/- each |
Rs. 890.855 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 |
890.855 |
890.855 |
890.859 |
|
(b) Reserves & Surplus |
1105.805 |
1250.432 |
1133.446 |
|
(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) |
1996.660 |
2141.287 |
2024.305 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5303.597 |
4494.186 |
4161.141 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
103.296 |
115.790 |
114.894 |
|
(d) long-term
provisions |
5.930 |
5.117 |
4.899 |
|
Total Non-current
Liabilities (3) |
5412.823 |
4615.093 |
4280.934 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
445.041 |
473.831 |
275.498 |
|
(b) Trade
payables |
239.253 |
83.589 |
62.022 |
|
(c) Other
current liabilities |
324.759 |
261.970 |
128.984 |
|
(d) Short-term
provisions |
8.325 |
6.668 |
3.677 |
|
Total Current
Liabilities (4) |
1017.378 |
826.058 |
470.181 |
|
|
|
|
|
|
TOTAL |
8426.861 |
7582.438 |
6775.420 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3766.681 |
4400.445 |
4569.122 |
|
(ii) Intangible
Assets |
8.967 |
7.293 |
3.540 |
|
(iii)
Capital work-in-progress |
855.403 |
1717.831 |
1107.950 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
157.800 |
441.000 |
441.000 |
|
(c) Deferred tax assets (net) |
782.268 |
505.691 |
0.000 |
|
(d) Long-term Loan and Advances |
771.841 |
286.379 |
357.043 |
|
(e) Other
Non-current assets |
15.525 |
17.513 |
16.158 |
|
Total Non-Current
Assets |
6358.485 |
7376.152 |
6494.813 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
51.507 |
50.838 |
44.151 |
|
(c) Trade
receivables |
62.386 |
43.054 |
34.537 |
|
(d) Cash
and cash equivalents |
62.989 |
55.492 |
147.986 |
|
(e) Short-term
loans and advances |
11.736 |
13.543 |
23.485 |
|
(f) Other
current assets |
1879.758 |
43.359 |
30.448 |
|
Total
Current Assets |
2068.376 |
206.286 |
280.607 |
|
|
|
|
|
|
TOTAL |
8426.861 |
7582.438 |
6775.420 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TOTAL
SALES |
1419.919 |
1330.144 |
1289.577 |
|
|
|
|
|
|
|
Less |
TOTAL
EXPENSES |
1160.278 |
1082.056 |
878.075 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
259.641 |
248.088 |
411.502 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
452.577 |
413.949 |
424.154 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(192.936) |
(165.861) |
(12.652) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
228.253 |
222.822 |
220.924 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(421.189) |
(388.683) |
(233.576) |
|
|
|
|
|
|
|
Less |
TAX |
(276.561) |
(505.668) |
313.661 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(144.628) |
116.985 |
(547.237) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1250.432) |
(1538.820) |
(991.583) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(1105.805) |
(1250.432) |
(1538.820) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.16) |
1.31 |
(6.14) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
N.A |
N.A |
N.A |
|
Cash generated from operations |
N.A |
N.A |
N.A |
|
Net cash flow from operating activity |
406.962 |
351.862 |
223.177 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(10.19) |
8.79 |
(42.44) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
18.29 |
18.65 |
31.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.35) |
(7.90) |
(4.47) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.21) |
(0.18) |
(0.12) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.88 |
2.32 |
2.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03 |
0.25 |
0.60 |
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 |
890.859 |
890.855 |
890.855 |
|
Reserves & Surplus |
1133.446 |
1250.432 |
1105.805 |
|
Net
worth |
2024.305 |
2141.287 |
1996.660 |
|
|
|
|
|
|
long-term borrowings |
4161.141 |
4494.186 |
5303.597 |
|
Short term borrowings |
275.498 |
473.831 |
445.041 |
|
Total
borrowings |
4436.639 |
4968.017 |
5748.638 |
|
Debt/Equity
ratio |
2.192 |
2.320 |
2.879 |
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 |
1289.577 |
1330.144 |
1419.919 |
|
|
|
3.146 |
6.749 |
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 |
1289.577 |
1330.144 |
1419.919 |
|
Profit |
(547.237) |
116.985 |
(144.628) |
|
|
(42.44)% |
8.79% |
(10.19)% |
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 |
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 |
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
PERFORMANCE OF THE
COMPANY
During the Financial Year 2013-2014, the Company earned a total income of Rs. 1419.919 Million as against Rs. 1330.144 Million of the previous Financial Year which includes revenue from its hotel operations of Rs. 1410.415 Million against revenue of Rs. 1325.963 Million of the previous Financial Year.
Financial Year 2013-14 witnessed a marginal growth in Total revenue of 6.78% from hotel operations as compared to previous year. The Operating Profit for the Financial Year 2013-2014 stood at Rs. 4,22.100 Million as against Rs. 4,50.300 Million of previous financial year i.e. 6% reduction in Operating Profit. The reduction in Operating Profit was due to less than an inflationary growth in revenue which has been further affected adversely by corresponding increase in Operating Cost. During the year there has been significant impact on operating cost due to inflation, increase in dollar rate by more than 10% and increase in energy rates by more than 20%.. The Company has tried to combat the increase in cost by managing consumption to control cost into various areas.
The marginal growth in room revenue is mainly due to negative growth in ARR though occupancy has increased by 4.7% as compared to previous year. The ARR has dropped by 2% i.e. Rs. 10,346 from Rs. 10,552 against previous year and Occupancy is up by 4.7% i.e. 70.8%% against 67.7%% of previous year, which has resulted in nominal growth of Room Revenue by 2.7%. However Food & Beverage (F & B) income witnessed a significant growth of 11.4% over the previous year, enabled by a healthy growth in Banqueting revenue (39%), F & B multi cuisine outlet by (5%) and growth in AER Bar by (5%). The growth in AER was also a result of additional operating month i.e. during monsoon post installation of shed. The Other Operating department has also grown marginally by 2.7% over the previous year as the growth in membership and transportation segment of over 15% being offset by reduction in the internet revenue, on account of internet made complimentary in last\ quarter of the financial year as per Four Seasons Global policy and further reduction due to, office space being vacated by one of the Company
ECONOMIC OUTLOOK
Globally weak macroeconomic scenario, less than buoyant economic growth scenario in the USA, subdued economic conditions in the European region and slowing growth in the BRIC economies coupled with high domestic interest rates, inflation and muted corporate performance during the previous and the current fiscal have sapped the industry’s ability to sustain inflation adjusted Average Room Realizations (ARRs).
The Indian Economy recorded its lowest GDP growth rate in a decade at 5% in 2012/2013; a stark departure from the 9.3% growth rate achieved a couple of years ago. Successive cuts to key lending rates to control inflation, a consequent rise in borrowing costs, poor availability of overseas credit, sluggish industrial output and weak private-public sector investment were the key reasons behind the deceleration.
Inflation, which has been a major worry for the Indian economy for many years due to its adverse effects on investments and savings, and ultimately growth, showed a favorable downswing in 2012/2013. The Wholesale price inflation (WPI), Indias benchmark indicator of prices rises, averaged 7.4%, down from 8.9% in the previous fiscal.
The rupee was volatile, depicted in the exchange rate to the US dollar and British Pound fluctuating significantly in 2012/2013. This has been ascribed to the supply-demand imbalance in the domestic foreign exchange market on account of slowdown in Foreign Institutional Investment inflows. Domestic factors such as high inflation and an increasing current account deficit have caused the rupee to plummet.
INDUSTRY’S FUTURE
OUTLOOK
Travel & Tourisms contribution to the world economy has grown for the fourth consecutive year and is expected to show strong growth going forward. According to a Cushman & Wakefield (C&W) report, hospitality sector of India is expecting to witness robust and improved infrastructure growth.
Besides the growth from the corporate sector, also a mainstay for our property, India is also projected to show strong growth in the wellness tourism sector owing to globally competitive healthcare facilities.
The government's decision to introduce the electronic visa facility (e-Visa) is also expected to give a much needed boost to inbound travel in India. The facility of electronic visa authorization is expected to be introduced in nine airports with major source countries expected to be the US, UK, Russia, France and Germany. As per government estimates India could receive 1.2 million additional tourists and receive earnings of $2.4 billion by 2015 if the e-visa facility is implemented.
Tourism contributes nearly 6.6% of domestic GDP and had created over 39.5 million jobs in 2012 alone. The economic situation has since improved with a stable government having been sworn in and initiatives being taken to jumpstart the economy. India continues to lag in tourism competitiveness, ranking 65 out of 140 countries in a 2013 World Economic Forum study and a fillip to the economy would have a positive impact on the tourism/ hotels industry.
NOTE: Registered office of the company has been shifted from No.5, E Block, Local Shopping Centre, Masjid Moth, Greater Kailash- II, New Delhi- 110048 to the present address
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Loan repayable on demand form bank |
211.450 |
171.688 |
|
|
|
|
|
Total |
211.450 |
171.688 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10545399 |
05/06/2015 * |
1,750,000,000.00 |
HOUSING
DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE
169BACKBAY RECLAMATION, H T PAREKH MA |
C56569544 |
|
2 |
10485714 |
19/03/2014 |
600,000,000.00 |
AXIS BANK
LIMITED |
Gr Flr, Axis
House, Unit C-2, Wadia Intl. Centre, |
C00776872 |
|
3 |
10403762 |
11/03/2013 * |
150,000,000.00 |
AXIS BANK
LIMITED |
2ND FLOOR, STATESMAN
HOUSE, 148, BARAKHAMBA ROAD, |
B73050247 |
|
4 |
10332876 |
11/03/2013 * |
250,000,000.00 |
AXIS BANK
LIMITED |
2ND FLOOR,
STATESMAN HOUSE, 148, BARAKHAMBA ROAD, |
B73048753 |
|
5 |
10275896 |
05/06/2015 * |
4,270,000,000.00 |
HOUSING
DEVELOPMENT FINANCE CORPORATION LIMITED |
RAMON HOUSE
169BACKBAY RECLAMATION, H T PAREKH MA |
C56568751 |
|
6 |
10255690 |
09/02/2013 * |
200,000,000.00 |
AXIS BANK
LIMITED |
2ND FLOOR,
STATESMAN HOUSE, 148, BARAKHAMBA ROAD, |
B72358229 |
|
7 |
10255691 |
09/02/2013 * |
2,000,000,000.00 |
AXIS BANK
LIMITED |
2ND FLOOR,
STATESMAN HOUSE, 148, BARAKHAMBA ROAD, |
B72362353 |
|
8 |
10103382 |
11/03/2013 * |
300,000,000.00 |
AXIS BANK
LIMITED |
2ND FLOOR,
STATESMAN HOUSE, 148, BARAKHAMBA ROAD, |
FIXED ASSETS
- Land
- Air- Conditioners
- Furniture, Fixture and Furnishings
- Office Equipments
- Computer
- Vehicles
- Building
- Plant and machinery
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 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.65.12 |
|
|
1 |
Rs.101.61 |
|
Euro |
1 |
Rs.72.55 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
- |
|
--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 |
|
27 |
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.