MIRA
INFORM REPORT
|
Report No. : |
338437 |
|
Report Date : |
27.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
PALAVA DWELLERS PRIVATE LIMITED (w.e.f. 06.05.2014) |
|
|
|
|
Formerly Known
As : |
LODHA DEWELLERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
412, Floor – 4, 17G, Vardhaman Chamber, Cawasji Patel Road, Horniman Circle,
Fort, Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22-23024400 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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|
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|
Date of
Incorporation : |
22.07.2005 |
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|
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|
Com. Reg. No.: |
11-154993 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 2.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70100MH2005PTC154993 |
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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.] |
AABCL1117D |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in Development and Construction of Real
Estate. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is subsidiary of “Lodha Developers Private Limited”. It is established
company having a satisfactory track record. The rating on company reflects healthy operational and financial risk
profile, strong capital structure backed by comfortable debt protection
metrics. Rating further take consideration on strong financial and managerial
support from Lodha Group. However rating are constrained, by project execution risk, sharp
decline in profit margin of the company in FY-14 and real estate going
through sluggish phase due to uncertain economic condition prevailing in the
country for the last couple of years. However, trade relations are fair. Business is active. Payments terms
are reported to be slow but correct. The company can be considered normal for business dealings at its
usual trade terms and condition. Note: As claimed by Mr. Santosh (Account Department Executive), that on 6th
May 2014, the company name has been change from LODHA DEWELLERS PRIVATE
LIMITED to Current name i.e. PALAVA DWELLERS PRIVATE LIMITED. |
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 DENIED
Management non co-operative (Tel. No.: 91-22-23024400)
LOCATIONS
|
Registered Office : |
412, Floor – 4, 17G, Vardhaman Chamber, Cawasji Patel Road, Horniman
Circle, Fort, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-23024400 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 26.12.2014
|
Name : |
Mr. Shaishav Pankaj Dharia |
|
Designation : |
Nominee Director |
|
Address : |
1204, Casa Grande, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013, Maharashtra, India |
|
Date of Birth/Age : |
18.10.1973 |
|
Date of Appointment : |
16.08.2012 |
|
DIN No.: |
06405078 |
|
|
|
|
Name : |
*Nilesh Prakash Parab |
|
Designation : |
Nominee Director |
|
Address : |
B-1/301, Anubhuti Chs, Arya Chankya Nagar, Kandivali (East), Mumbai – 400101, Maharashtra, India |
|
Date of Birth/Age : |
20.10.1982 |
|
Date of Appointment : |
16.08.2012 |
|
DIN No.: |
06706741 |
|
|
|
|
Name : |
Kishore Purushottam Tidke |
|
Designation : |
Additional Director |
|
Address : |
7 / 4 , Adityman, Kanti Nagar Andheri (East), Mumbai – 400059, Maharashtra, India |
|
Date of Appointment : |
17.07.2015 |
|
DIN No.: |
02070198 |
*Mr. Nilesh Prakash Parab were appointed as Additional
Directors on 04.10.2013 were appointed as Nominee Directors at Annual General
Meeting dated 26th December, 2014.
MAJOR SHAREHOLDERS
AS ON 26.12.2014
|
Names of Shareholders |
|
No. of Shares |
|
Lodha Developers Private Limited, India |
|
999 |
|
Lodha Impression Real Estate Private Limited, India |
|
1 |
|
Lodha Developers Private Limited, India |
|
24000 |
|
|
|
|
|
Total |
|
25000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 26.12.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Development and Construction of Real
Estate. |
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Products : |
Not Divulged |
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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 |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
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Customers : |
Not Divulged
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No. of Employees : |
Information declined by the management |
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Bankers : |
Punjab and Sind Bank, J K Somani Building, British Hotel Lane, Fort,
Mumbai – 400023, Maharashtra, India |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Shanker and Kapani Chartered Accountants |
|
Address : |
2nd Floor, N T Chouse, 15 N M Marg, Ballard Estate, Mumbai - 400038, Maharashtra, India |
|
PAN No.: |
AAKFS6521L |
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Memberships : |
-- |
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|
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Collaborators : |
-- |
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|
|
|
Fellow Subsidiary
company : |
· Aasthavinayak Estate Company Private Limited · Jawala Real Estate Private Limited · Krona Realties Private Limited · Lodha Buildcon Private Limited · Lodha Crown Buildmart Private Limited · Lodha Developers International (Mauritius) Limited · Adinath Builders Private Limited · Lodha Estate P. Limited · Lodha Glowing Construction Private Limited · Lodha Hi-Rise Builders Private Limited · Lodha Impression Real Estate Private Limited · Ajitnath Hi-Tech Builders Private Limited · Macrotech Constructions Private Limited · Nabhiraja Software Design Private Limited · Proficient Buildwell Private Limited · Roselabs Finance Limited · Anantnath Constructions And Farms Private Limited · Samvara Buildtech Private Limited · Sarvavasa Buildtech And Farms Private Limited · Shree Sainath Enterprises Construction And Developers Private Limited · Shreeniwas Cotton Mills Limited · Siddhnath Residential Paradise Private Limited · Simtools Private Limited · Suryakrupa Constructions Private Limited · Arihant Premises Private Limited · Cowtown Land Development Private Limited · Dalhousie Leasing And Financial Services Private Limited |
|
|
|
|
Subsidiary company
: |
· Hi-Class Buildcon Private Limited · Lodha Pinnacle Buildtech And Farms Private Limited · Mahavir Build Estate Private Limited · Palava City Management Private Limited · Sahajanand Hi-Tech Constructions Private Limited · Galaxy Premises Private Limited |
|
|
|
|
Holding company : |
· Lodha Developers Private Limited |
|
|
|
|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
· Lodha Builders Private Limited · Lodha Charitable Trust · Lodha Facilities Management Limited · Lodha Finstock Private Limited · Lodha Global Limited · Lodha Healthy Constructions And Developers Private Limited · Lodha Pranik Landmark Developers Private Limited · Lodha Properties Development Private Limited · Vatsal Hospitality Private Limited · Dharmanath Buildtech And Farms Private Limited |
CAPITAL STRUCTURE
AS ON 26.12.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.100 Million |
|
24000 |
Preference Shares |
Rs. 100/- each |
Rs. 2.400 Million |
|
|
Total |
|
Rs. 2.500
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.100
Million |
|
24000 |
Preference Shares |
Rs. 100/- each |
Rs. 2.400
Million |
|
|
Total |
|
Rs. 2.500 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 |
2.500 |
2.500 |
2.500 |
|
(b) Reserves & Surplus |
8470.995 |
6699.508 |
3570.028 |
|
(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) |
8473.495 |
6702.008 |
3572.528 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
4.238 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
1211.067 |
903.349 |
611.523 |
|
(c) Other long term liabilities |
370.953 |
246.509 |
127.138 |
|
(d) long-term provisions |
20.039 |
37.826 |
29.573 |
|
Total Non-current Liabilities (3) |
1606.297 |
1187.684 |
768.234 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
11037.240 |
9179.644 |
4878.797 |
|
(b) Trade payables |
6564.849 |
5781.853 |
3232.833 |
|
(c) Other current
liabilities |
16404.575 |
14519.038 |
9093.080 |
|
(d) Short-term provisions |
7.176 |
12.872 |
375.376 |
|
Total Current Liabilities (4) |
34013.840 |
29493.407 |
17580.086 |
|
|
|
|
|
|
TOTAL |
44093.632 |
37383.099 |
21920.848 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
267.102 |
98.107 |
65.120 |
|
(ii) Intangible Assets |
9.796 |
11.511 |
16.098 |
|
(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 |
8295.808 |
5390.957 |
705.957 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
694.573 |
765.767 |
5.498 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
9267.279 |
6266.342 |
792.673 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
29544.800 |
23331.822 |
18349.925 |
|
(c) Trade receivables |
1323.377 |
2362.220 |
578.324 |
|
(d) Cash and cash
equivalents |
876.319 |
739.218 |
697.513 |
|
(e) Short-term loans and
advances |
2778.438 |
4467.786 |
1463.791 |
|
(f) Other current assets |
303.419 |
215.711 |
38.622 |
|
Total Current Assets |
34826.353 |
31116.757 |
21128.175 |
|
|
|
|
|
|
TOTAL |
44093.632 |
37383.099 |
21920.848 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
17208.789 |
15018.104 |
10559.200 |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2779.453 |
2961.382 |
4208.445 |
|
|
|
|
|
|
|
Less |
TAX |
1007.905 |
(168.297) |
1167.133 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1771.548 |
3129.679 |
3041.312 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
70861.92 |
125187.16 |
121652.48 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operation |
559.472 |
4512.334 |
6462.945 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
10.29 |
20.84 |
28.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.76 |
9.26 |
19.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33 |
0.44 |
1.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.30 |
1.37 |
1.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
1.06 |
1.20 |
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 |
2.500 |
2.500 |
2.500 |
|
Reserves & Surplus |
3570.028 |
6699.508 |
8470.995 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3572.528 |
6702.008 |
8473.495 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
4.238 |
|
Short term borrowings |
4878.797 |
9179.644 |
11037.240 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
4878.797 |
9179.644 |
11041.478 |
|
Debt/Equity
ratio |
1.366 |
1.370 |
1.303 |
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 |
10559.200 |
15018.104 |
17208.789 |
|
|
|
42.228 |
14.587 |
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 |
10559.200 |
15018.104 |
17208.789 |
|
Profit |
3041.312 |
3129.679 |
1771.548 |
|
|
28.80% |
20.84% |
10.29% |
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 |
Yes |
|
33 |
Market information |
----- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date:- 07/08/2014 |
|
|
|
Main
Matter Reg. No.:- WP/2968/2014
Reg. Date :- 11/12/2014 |
|
Petitioner: CIMMISSIONER OF INCOME TAX
Respondent: LODHA DWELLERS PVT. LTD.
Petn. Adv : TEJVEER SINGH MASTAN SINGH (I3678)
Res. Adv.:- WADIA GHANDY AND CO. (628) District: MUMBAI |
|
Bench: DIVISION Status: Disposed
Category: WRIT PETITIONS (INCOME TAX) Disp. Date:- 09/10/2014
Disp. Type: DISPOSED OFF Disp. By:- HON’BLE THE CHIEF JUSTICE HON’BLE SHRI JUSTICE M.S. SANKLECHA
Last Date: 09/10/2014 Stage:
IN CHAMBER Last Coram: HON’BLE THE CHIEF JUSTICE HON’BLE SHRI JUSTICE M.S. SANKLECHA |
|
Act: Income Tax Act, 1961 UNDER SECTION: 245D (2C) |
BUSINESS OVERVIEW
Subject has planned a fully integrated, self-contained and mega residential development with offices, shopping malls, schools, medical facilities, sports and recreational facilities. The vision is to develop a sustainable city by the name of Palava with world class infrastructure at Dombivali along with developing an ecosystem of thriving commercial centre. Under the first phase of development which is currently underway five residential projects has been launched namely Casa Bella, Casa Bella Gold, Casa Rio, Casa Rio Gold and Golflinks which is the aspirational segment of the project comprising of Golf villas and Golf apartments.
SCHEME OF
AMALGAMATION
Subject (Transferee Company) has entered into Scheme of Amalgamation with its wholly-owned subsidiaries i.e. Mahavir Build Estate Private Limited and Galaxy Premises Private Limited. The appointed date for said Scheme of Arrangement is 1stApril, 2013.
Further, the Company (Transferee Company) has also entered into another Scheme of Amalgamation with its wholly-owned subsidiaries i.e. Sahajanand Hi-Tech Constructions Private Limited, Gandhar Builders Private Limited, Shri Nakoda Bhirav Realtors Private Limited and Lodha Pinnacle Buildtech And Farms Private Limited (Transferor Companies). The appointed date for said Scheme of Arrangement is 1st April, 2014.
The necessary petition for both the Scheme of Amalgamation has already been filed with the Hon’ble High Court of Bombay and order of the Court in this regard is awaited.
UNSECURED LOAN
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from others |
4620.334 |
4784.271 |
|
Loans repayable on demand |
0.000 |
1390.273 |
|
|
|
|
|
Total |
4620.334 |
6174.544 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10582451 |
27/07/2015 |
2,500,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C60044666 |
|
2 |
10549604 |
27/01/2015 |
5,423,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg, Ballard Estate, MUMBAI, Maharashtra - 400001, INDIA |
C43845718 |
|
3 |
10549608 |
27/01/2015 |
5,423,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg, Ballard Estate, MUMBAI, Maharashtra - 400001, INDIA |
C43846856 |
|
4 |
10539568 |
05/12/2014 |
1,000,000,000.00 |
Kotak Mahindra Bank Limited |
27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra – 400051, INDIA |
C38604310 |
|
5 |
10531006 |
31/10/2014 |
1,150,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra - 400051, INDIA |
C33447897 |
|
6 |
10523332 |
29/09/2014 |
2,000,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R.Kamani Marg, Ballard Estate, MUMBAI, Maharashtra - 400001, INDIA |
C24854606 |
|
7 |
10526577 |
25/09/2014 |
5,700,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
C30212070 |
|
8 |
10525991 |
23/09/2014 |
2,200,000,000.00 |
JM FINANCIAL PRODUCTS LIMITED |
7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai, Maharashtra - 400025, INDIA |
C29732526 |
|
9 |
10514970 |
04/08/2014 |
2,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R. Kamani Marg, Ballard Estate, MUMBAI, Maharashtra - 400001, INDIA |
C16450033 |
|
10 |
10515001 |
04/08/2014 |
2,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
Asian Bldg., Ground Floor, 17, R. Kamani Marg, Ballard Estate, MUMBAI, Maharashtra - 400001, INDIA |
C16469207 |
* Date of charge modification
FIXED ASSETS
·
Buildings
·
Furniture and Fixture
·
Plant and Equipments
·
Vehicles
·
Office Equipments
·
Other Equipments
·
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, 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. 66.16 |
|
UK Pound |
1 |
Rs. 103.88 |
|
Euro |
1 |
Rs. 75.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared by
: |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.