MIRA INFORM REPORT
|
Report No. : |
302574 |
|
Report Date : |
10.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
GHV HOTEL (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Kedy Compound, Near Bomaby Mercantile Co-operative Bank, Nagpada
Junction, Mumbai – 400008, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
19.12.2007 |
|
|
|
|
Com. Reg. No.: |
11-176945 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.21.625 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U55204MH2007PTC176945 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the hotel, tourism related hospitality and real
estate Business. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Yet to commence it commercial operations |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a company whose projects is still under implementation
stages as per the financial statements of FY14. Mr. Hasan Ali, accounts manager denied to provide any information of
the subject to us. Management has reported high leverage during FY14. The ratings also take into consideration, the extensive experience and
strong financial and managerial support of the promoters. Business is active. Payment terms are unknown. In view of its project under implementation, the company can be
considered for Business dealings on a 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.
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Hasan Ali |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-67250014 |
|
Date : |
08.01.2015 |
LOCATIONS
|
Registered Office : |
Kedy Compound, Near Bomaby Mercantile Co-operative Bank, Nagpada
Junction, Mumbai – 400008, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
First Floor, AML Center-1, Mahakali Caves Road, Andheri (East), Mumbai
– 400093, Maharashtra, India |
|
Tel. No.: |
91-22-67250014 / 15 |
|
Fax No.: |
91-22-67250016 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Shafimohammadbhai Vijapura |
|
Designation : |
Director |
|
Address : |
Village Panpur, Himmatnagar Sabarkanth - 383001, Gujarat, India |
|
Date of Appointment : |
19.12.2007 |
|
DIN No.: |
00090129 |
|
|
|
|
Name : |
Mr. Farukbhai Hussainbhai Vijapura |
|
Designation : |
Director |
|
Address : |
Village Panpur, Himmatnagar Sabarkanth - 383001, Gujarat, India |
|
Date of Appointment : |
19.12.2007 |
|
DIN No.: |
00090209 |
|
|
|
|
Name : |
Mr. Mustakali Husenbhai Vijapura |
|
Designation : |
Director |
|
Address : |
Village Panpur, Himmatnagar Sabarkanth - 383001, Gujarat, India |
|
Date of Appointment : |
19.12.2007 |
|
DIN No.: |
00090258 |
|
|
|
|
Name : |
Mr. Jahidmohmed Husenbhai Vijapura |
|
Designation : |
Director |
|
Address : |
Village Panpur, Himmatnagar Sabarkanth - 383001, Gujarat, India |
|
Date of Appointment : |
19.12.2007 |
|
DIN No.: |
00090328 |
KEY EXECUTIVES
|
Name : |
Mr. Hasan Ali |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Farukbhai Hussainbhai Vijapura |
|
130 |
|
Shafimohammadbhai Vijapura |
|
240 |
|
Jahidmohmed Husenbhai Vijapura |
|
130 |
|
Mustakali Husenbhai Vijapura |
|
9500 |
|
GHV (India) Private Limited |
|
1720000 |
|
Aim Properties and Investment Private Limited |
|
432500 |
|
|
|
|
|
Total |
|
2162500 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
99.54 |
|
Directors or relatives of Directors |
0.46 |
|
|
|
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20302574_MIRA%2010-Jan-2015_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the hotel, tourism related hospitality and real
estate Business. |
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|
|
Products : |
-- |
|
|
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|
Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
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Banking
Relations : |
-- |
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|
|
Auditors : |
|
|
Name : |
Mehta Chokshi and Shah Chartered Accountants |
|
Address : |
229, Bokadia Mansion, Princess Street, Mumbai – 400002, Maharashtra,
India |
|
PAN No.: |
AAAFM5817F |
|
|
|
|
Membership : |
-- |
|
|
|
|
Holding Company : |
GHV India Private Limited |
|
|
|
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Fellow Subsidiary Company : |
GHV Hospitality Private limited |
|
|
|
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Enterprise owned or significantly influenced by the key management
personnel or their relatives (Associate Enterprises) : |
Hotel Bombay International |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2162500 |
Equity Shares |
Rs.10/- each |
Rs.21.625 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
21.625 |
21.625 |
19.000 |
|
(b) Reserves & Surplus |
90.315 |
90.315 |
79.290 |
|
(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) |
111.940 |
111.940 |
98.290 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
516.034 |
437.318 |
260.606 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
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 |
|
Total Non-current
Liabilities (3) |
516.034 |
437.318 |
260.606 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
47.341 |
45.982 |
32.560 |
|
(c) Other current
liabilities |
69.405 |
58.165 |
30.614 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
116.746 |
104.147 |
63.174 |
|
|
|
|
|
|
TOTAL |
744.720 |
653.405 |
422.070 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
155.138 |
145.262 |
80.857 |
|
(ii)
Intangible Assets |
58.546 |
7.796 |
1.846 |
|
(iii)
Capital work-in-progress |
483.663 |
445.956 |
285.141 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.500 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
28.337 |
29.117 |
35.873 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
726.184 |
628.131 |
403.717 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
6.046 |
5.586 |
11.818 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
12.490 |
19.688 |
6.535 |
|
Total
Current Assets |
18.536 |
25.274 |
18.353 |
|
|
|
|
|
|
TOTAL |
744.720 |
653.405 |
422.070 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.61 |
3.91 |
2.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.16 |
0.24 |
0.29 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
19.000 |
21.625 |
21.625 |
|
Reserves & Surplus |
79.290 |
90.315 |
90.315 |
|
Net
worth |
98.290 |
111.940 |
111.940 |
|
|
|
|
|
|
long-term borrowings |
260.606 |
437.318 |
516.034 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
260.606 |
437.318 |
516.034 |
|
Debt/Equity
ratio |
2.651 |
3.907 |
4.610 |
%20PRIVATE%20LIMITED%20-%20302574_MIRA%2010-Jan-2015_files/image004.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
41.354 |
34.380 |
-- |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
OPERATIONS:
Since company is on construction stage, there are no transactions during the year.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
From Holding
Company |
242.153 |
213.689 |
|
From Fellow
Subsidiaries |
0.300 |
0.300 |
|
From Directors |
13.284 |
0.285 |
|
From Relatives of
Directors |
3.940 |
0.910 |
|
|
|
|
|
Total |
259.677 |
215.184 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10501676 |
14/03/2014 |
80,000,000.00 |
THE KURLA NAGRIK SAHAKARI BANK LTD. |
SAGAR PLAZIO, SAKINAKA JUNCTION, KURLA ANDHERI ROAD, SAKINAKA, MUMBAI, MAHARASHTRA - 400072, INDIA |
C05768148 |
|
2 |
10246589 |
11/06/2014 * |
300,000,000.00 |
BANK OF BARODA |
MOTIPURA BRANCH, TRIMURTI AVENUE,, SAHKARI JIN CHAR RASTA, N.H.8,, HIMATNAGAR, GUJARAT - 383001, INDIA |
C12268777 |
|
3 |
10156740 |
17/02/2012 * |
900,000,000.00 |
BANK OF BARODA |
MOTIPURA BRANCH, TRIMURTI AVENUE,, SAHKARI JIN CHAR RASTA, N.H.8, HIMATNAGAR, GUJARAT - 383001, INDIA |
B33503368 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Air Conditioner
·
Furniture and Fixtures
·
Machinery
·
Transformer
·
Water Pumps
·
Control Panel
·
Electric Fitting
·
Electric Panel
·
Fitness Equipment
·
Kitchen Equipment
·
Lift Elevators
·
Light Equipment
·
Printer
·
Telephone
·
Sculpture
·
Scanner
·
Interactive TV
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.40 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
26 |
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.