MIRA INFORM REPORT

 

 

Report No. :

332471

Report Date :

17.07.2015

 

IDENTIFICATION DETAILS

 

Name :

KANAKIA SPACES PRIVATE LIMITED (w.e.f.14.09.2007)

 

 

Formerly Known As :

KANAKIA CONSTRUCTIONS PRIVATE LIMITED

 

 

Registered Office :

215 Atrium, 10th Floor, Opposite Divine School, JB Nagar, Andheri Kurla Road, Andheri [East], Mumbai – 400059, Maharashtra

Tel. No.:

91- 22-67266666

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

05.11.1992

 

 

Com. Reg. No.:

11-069422

 

 

Capital Investment / Paid-up Capital :

Rs. 125.945 Million

 

 

CIN No.:

[Company Identification No.]

U45200MH1992PTC069422

 

 

IEC No.:

0302020497

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMK05573B

 

 

PAN No.:

[Permanent Account No.]

AAACK2629J

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in the business of Real Estate Development

 

 

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

 

 

Litigation :

Clear

 

 

Comments :

Subject is a flagship company of “Kanakia Group” incorporated during the year 1992. It has satisfactory track record.

 

Management has reported a sharp decline in its profits earned, during the financial year 2014.

 

The company possesses healthy financial risk profile marked by fine net worth position along with favourable liquidity profile.

 

Trade relations are reported as fair. Business is active. Payment terms are reported as slow but correct.

 

In view of good financial profile, the company can be considered for business dealings at usual 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

 

 

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-cooperative (91-22-67266666)

 

LOCATIONS

 

Registered Office :

215 Atrium, 10th Floor, Opposite Divine School, JB Nagar, Andheri Kurla Road, Andheri [East], Mumbai – 400059, Maharashtra, India

Tel. No.:

91- 22-67266666/ 6726 7777 (Board)

Fax No.:

91-22-66937777

E-Mail :

investor@kanakia.com

lobo@kanakia.com

ravindra@kanakia.com

Website :

http://www.kanakia.com

 

 

Branch Office :

349, Business Point, CTS No. 349/1, Part 2, Village Gundavali, Western Express Highway, Andheri (East), Mumbai – 400069, Maharashtra, India

 

 

Site Sales Offices :

·         Kanakia Sevens, Off Andheri-Kurla Road, Next to Times Square, Marol, Andheri (East), Mumbai – 400059, Maharashtra, India

 

·         Kanakia Levels, Opposite Passport Office, Rani Sati Marg, Off Western Express Highway, Malad (East), Mumbai – 400097, Maharashtra, India

 

·         Samarpan Exotica, Western Express Highway, Borivali (East), Mumbai – 400066, Maharashtra, India

 

·         Kanakia Zillion, LBS Road Junction, CST Road, BKC Annexe, Kurla (West), Mumbai – 400070, Maharashtra, India

 

·         Boomerang, Main Chandivali Farm Road, Near Powai, Andheri (East), Mumbai – 400072, Maharashtra, India

 

·         Atrium 2, Next to 215 Atrium, Behind Courtyard Marriott, Andheri Kurla Road, Andheri (East), Mumbai – 400093, Maharashtra, India

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Rasesh Babubhai Kanakia

Designation :

Director

Address :

Ashish, Plot 18, M.S. Road No. 4, JVPD, Vile Parle [West], Mumbai – 400056, Maharashtra, India 

Date of Birth/Age :

14.09.1961

Date of Appointment :

25.11.1994

PAN No.:

AABPK3454F

DIN No.:

00015857

 

 

Name :

Mr. Himanshu Babubhai Kanakia

Designation :

Director

Address :

Vrusti Swastik, Plot 20, Road No. 2, JVPD, Vile Parle [West], Mumbai – 400056, Maharashtra, India

Date of Birth/Age :

01.01.1964

Date of Appointment :

25.11.1994

PAN No.:

AASPK5262C

DIN No.:

00015908

 

 

Name :

Mr. Sanjay Harkisandas Sanghvi

Designation :

Director

Address :

402, Shashwat Society, Opposite Irla Nursinghome, Vile Parle [West], Mumbai – 400056, Maharashtra, India

Date of Birth/Age :

15.06.1963

Date of Appointment :

29.09.2006

DIN No.:

01692117

 

 

Name :

Mr. Bhadresh Labhshankar Joshi

Designation :

Director

Address :

11-P, Chalenger IV, Thakur Village, Kandiwali [East], Mumbai – 400101, Maharashtra, India

Date of Birth/Age :

19.09.1963

Date of Appointment :

29.09.2006

DIN No.:

01692145

 

 

Name :

Mrs. Asha Hemant Shah

Designation :

Director

Address :

12/15, Tukaram, Mahadik Road, Jambli Naka, Thane – 400601, Maharashtra, India

Date of Birth/Age :

22.06.1957

Date of Appointment :

28.09.2011

DIN No.:

03529743

 

 

KEY EXECUTIVES

 

Name :

Rashmi Shah

Designation :

Company Secretary

Address :

A-703, Sterling Court Maheshwari Nagar Andheri (East), Mumbai  - 400093, Maharashtra, India

Date of Birth/Age :

28.05.1987

Date of Appointment :

09.06.2014

PAN No.:

CDOPS5489L

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

 

No. of Shares

Rasesh B. Kanakia

 

1162145

Himanshu B. Kanakia

 

1145171

Rupal Kanakia

 

2804851

Hiral Kanakia

 

2804851

Kanakia Fin and Inv. Private Limited, India

 

915161

Kanakia Gruhnirman Private Limited, India

 

915161

Kanakia Housing Private Limited, India

 

915161

Vrusti Builders Private Limited, India

 

915161

Vrutant Benefit Trust, India

 

254200

Vrusti Benefit Trust, India

 

254200

Niyati Benefit Trust, India

 

254200

Ashish Benefit Trust, India

 

254200

 

 

 

Total

 

12594462

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

29.07

Directors or relatives of directors

62.86

Other top fifty shareholders

8.07

 

 

Total

 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of Real Estate Development

 

 

Products :

ITC Code No.

 

Product Descriptions

90148010

Sale of Flats

 

 

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:

Not Divulged

 

 

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:

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :
  • Bank of India, A.C.B. Branch, M.D.I. Building. 1st Floor, 28, S.V. Road, Andheri (West), Mumbai – 400058, Maharashtra, India
  • ICICI Bank Limited, Landmarkrace, Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

 

Bank Name

Bank of Baroda

Branch

Chakala, Andheri (East), Mumbai, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

91-22-26877319

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

No one is responding

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term Loans from Banks

76.176

85.317

Term Loan from Others

1162.947

2514.455

 

 

 

SHORT TERM BORROWING

 

 

Term Loan

163.508

629.840

Total

1402.631

3229.612

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

A.J. Kanakia and Company

Chartered Accountants

Address :

1, Alankar Building, 251, Sion Main Road, Sion (West) Mumbai-400022, Maharashtra, India 

Tel. No.:

91-22-2407009

Income-tax PAN of auditor or auditor's firm :

AAEPM1042Q

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiary company :

·         Centaur Mercantile Private Limited [U51909MH2004PTC146948]

·         Ashish Land and Property Developers Private Limited [U45200MH2007PTC168470]

·         Supreme Real Estate Developers Private Limited [U70101MH1994PTC079253]

·         Sarang Property Developers Private Limited [U51900MH1999PTC122297]

·         Niyati Real Estate Developers Private Limited [U70102MH2007PTC168559]

·         Kanakia Design and Construction Private Limited [U45202MH2008PTC181566]

·         Celebration Developers Private Limited [U45202MH2010PTC201404]

·         Kanakia Bhumi Construction Private Limited [U45400MH2010PTC207486]

·         Periwinkle Constructions Private Limited [U45202MH2010PTC201416]

·         Sun Star Spaces Private Limited [U45200MH2010PTC201343]

·         Silver Flower Constructions Private Limited [U45200MH2010PTC201344]

·         Kanakia Home Makers Private Limited [U45400MH2010PTC207274]

·         Kanakia King Style Construction Private Limited [U45400MH2010PTC207961]

·         Kanakia Residential Private Limited [U45400MH2010PTC207453]

·         RandH Homes Private Limited [U45202MH2008PTC181565]

·         Vrusti Real Estate Developers Private Limited [U45200MH2007PTC168508]

·         Vrutant Real Estate Developers Private Limited [U45200MH2007PTC168471]

·         Kanakia Hospitality Private Limited [U55101MH2005PTC158245]

·         Dynasty Home Makers Private Limited [U51507MH2005PTC154040]

·         Kanakia Builders Private Limited [U45200MH2008PTC181564]

·         Kanakia Hotels and Resorts Private Limited [U55206MH2007PTC168670]

·         R and H Real Estate and Land Developers Private Limited

 [U70102MH2010PTC199945]

 

 

 

Associates :

·         Atithya Inn Private Limited [U55101GJ2009PTC055897]

·         Beverly Park Constructions Private Limited [U45202MH2010PTC201390]

·         Bhagmati Constructions Private Limited [U45200MH2010PTC201239]

·         Elegant Builders Private Limited [U45400KA1983PTC005522]

·         Cashew Constructions Private Limited [U45203MH2010PTC201426]

·         Evergreen Construction Company Private Limited [U45201GJ1988PTC011187]

·         Elegant Builders

·         Elegant Construction

·         Evergreen Construction

·         Evergreen Financial Services

·         Evergreen Homemakers

·         Evergreen Home Makers PVT LTD [U45200MH1993PTC070610]

·         Flexon Constructions Private Limited [U45202MH2010PTC201253]

·         Jonquil Constructions Private Limited [U45202MH2010PTC201430]

·         Kanakia Black Pearl Construction Private Limited [U45400MH2010PTC209381]

·         Kanakia Builders Private Limited [U45200MH2008PTC181564]

·         Kanakia Associates

·         Kanakia Builders

·         Kanakia Construction

·         Kanakia Development

·         Kanakia Exports

·         Kanakia Finance And Investments Private Limited [U65990MH1994PTC076433]

·         Kanakia Housing Private Limited [U45200MH1995PTC089790]

·         Kanakia Medical Services Private Limited [U85110MH2004PTC146373]

·         Mercury Developers Private Limited [U45400DL1991PTC045790]

·         Periwinkle Land Developers Private Limited [U45400MH2010PTC201361]

·         RandH Spa Services Private Limited [U85190MH2010PTC199817]

·         Redberry Constructions Private Limited [U45203MH2010PTC201420]

·         Ribbon Developers Private Limited [U45203MH2010PTC201424]

·         Shreenuj Constructions Private Limited [U45202MH2010PTC201254]

·         Syambhunath Constructions Private Limited [U45200MH2010PTC201421]

·         Vrusti Builders Private Limited [U45200MH1995PTC092842]

·         Black Bryont Constructions Private Limited [U45400MH2010PTC201474]

·         Caramel Constructions Private Limited [U45400MH2010PTC201359]

·         Kanakia Construction

·         Kanakia Management Services

·         Mercury Developers

·         Mont Blanc Builders

·         Cinemax Propertie

·         Filbert Constructions Private Limited [U45203MH2010PTC203272]

·         Kanakia Aneth Construction Private Limited [U45200MH2010PTC209374]

 

 

Other Related Parties :

·         Ashish Benefit Trust

·         Babubhai Kanakia Foundation

·         Niyati Benefit Trust

·         Trivenibaa Madhavji Charitable Trust

·         Vrusti Benefit Trust

·         Vrutant Benefit Trust

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

15,000,000

Equity Shares

Rs. 10/- each

Rs. 150.000 Million

10,000

Preference Shares

Rs. 10/- each

Rs. 0.100 Million

 

Total

 

Rs. 150.100 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

12,594,462

Equity Shares

Rs. 10/- each

Rs. 125.945 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

125.945

125.945

125.945

(b) Reserves & Surplus

3740.136

3684.882

3501.239

(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)

3866.081

3810.827

3627.184

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1239.123

2599.772

4779.308

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

239.535

249.565

239.870

(d) long-term provisions

22.503

0.000

0.000

Total Non-current Liabilities (3)

1501.161

2849.337

5019.178

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

2875.429

3112.384

1697.411

(b) Trade payables

214.764

270.277

348.501

(c) Other current liabilities

4076.895

2848.825

3653.691

(d) Short-term provisions

6.968

0.130

72.018

Total Current Liabilities (4)

7174.056

6231.616

5771.621

 

 

 

 

TOTAL

12541.298

12891.780

14417.983

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

179.700

222.371

258.191

(ii) Intangible Assets

8.201

9.526

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

2783.388

2893.654

3002.717

(c) Deferred tax assets (net)

7.135

3.707

2.524

(d)  Long-term Loan and Advances

606.718

670.103

853.236

(e) Other Non-current assets

0.000

0.000

176.104

Total Non-Current Assets

3585.142

3799.361

4292.772

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

10.175

11.500

0.000

(b) Inventories

2613.781

2766.190

4183.347

(c) Trade receivables

52.034

103.955

423.803

(d) Cash and cash equivalents

195.964

179.716

149.010

(e) Short-term loans and advances

6084.202

6031.058

5369.051

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

8956.156

9092.419

10125.211

 

 

 

 

TOTAL

12541.298

12891.780

14417.983

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT BEFORE TAX

NA

NA

NA

 

 

 

 

 

Less

TAX                                                     

NA

NA

NA

 

 

 

 

 

 

PROFIT AFTER TAX

55.255

183.642

66.987

 

 

 

 

 

 

Earnings Per Share (Rs.)

4.39

14.58

5.32

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

34.745

57.969

27.124

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

2028.233

1180.703

(2351.837)

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Debt Equity Ratio

(Total Debt /Networth)

 

1.07

1.51

1.79

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.25

1.46

1.75

 

 

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

125.945

125.945

125.945

Reserves & Surplus

3501.239

3684.882

3740.136

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

3627.184

3810.827

3866.081

 

 

 

 

long-term borrowings

4779.308

2599.772

1239.123

Short term borrowings

1697.411

3112.384

2875.429

Current maturities of long-term debts

27.124

57.969

34.745

Total borrowings

6503.843

5770.125

4149.297

Debt/Equity ratio

1.793

1.514

1.073

 

 

 

 

 

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

No

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

NOTE:

The registered office of the company has been shifted from 349, Business Point, 5th Floor, Western Express Highway, Mumbai – 400069, Maharashtra, India to the present w.e.f.20.09.2010.

 

 

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

Loans repayable on demand

2711.921

2482.544

 

 

 

Total

2711.921

2482.544

 

 

FINANCIAL RESULTS

 

During the year, The Company has incurred profit Rs. 55.255 Million

 

 

INDEX OF CHARGES:

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10397901

27/12/2012

80,000,000.00

SREI EQUIPMENT FINANCE PRIVATE LIMITED

'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA

B66180340

2

10368053

25/09/2013 *

265,000,000.00

JM FINANCIAL PRODUCTS LIMITED

7TH FLOOR, CNERGY, APPASAHEB MARATHE MARG, PRABHADEVI, MUMBAI - 400025, MAHARASHTRA, INDIA

B86500261

3

10320404

22/11/2011

500,000,000.00

INFRASTRUCTURE DEVELOPMENT FINANCE COMPANY LIMITED

KRM TOWER, 8TH FLOOR, NO. 1, HARRINGTON ROAD, CHETPET, CHENNAI - 600031, TAMILNADU, INDIA

B26496257

4

10296107

15/06/2011

1,250,000,000.00

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

RAMON HOUSE, H.T. PAREKH MARG, 169, BACKBAY, RECLAMATION, CHURCHGATE, MUMBAI - 400020, MAHARASHTRA,
INDIA

B16521148

5

10249294

12/07/2012 *

25,000,000.00

KOTAK MAHINDRA BANK LIMITED

1ST FLOOR, VINAY BHAVAN COMPLEX, 158, C.S.T. ROAD, KALINA, SANTACRUZ - EAST, MUMBAI - 400059, MAHARASHTRA, INDIA

B44940633

6

10202186

28/01/2010

16,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL, MUMBAI - 400013, MAHARASHTRA, INDIA

A78934726

7

10186046

04/11/2009

2,500,000.00

BANK OF BARODA

CHAKALA BRANCH, APPLE HERITAGE, GROUND FLOOR, 54-C, ANDHERI KURLA ROAD, CHAKALA, ANDHERI (E), MUMBAI - 400093, MAHARASHTRA, INDIA

A73080566

8

10183367

29/09/2009

1,435,000.00

BANK OF BARODA

CHAKALA BRANCH, APPLE HERITAGE, GROUND FLOOR, 54-C, ANDHERI KURLA ROAD, CHAKALA, ANDHERI (E), MUMBAI - 400093, MAHARASHTRA, INDIA

A72357304

9

10179905

18/09/2009

775,000.00

BANK OF BARODA

CHAKALA BRANCH, APPLE HERITAGE, GROUND FLOOR, 54-C, ANDHERI KURLA ROAD, CHAKALA, ANDHERI (E), MUMBAI - 400093, MAHARASHTRA, INDIA

A70478284

10

10180978

07/01/2011 *

154,500,000.00

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

RAMON HOUSE 169 BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI - 400020, MAHARASHTRA, INDIA

B07151814

11

10224887

07/07/2009

83,150,000.00

HDFC BANK LIMITED

KAMALA MILLS COMPOUND, SENAPATI BAPAT MARG, LOWER PAREL, MUMBAI - 400013, MAHARASHTRA, INDIA

A73515108

12

10166639

25/05/2009

1,150,000.00

BANK OF BARODA

CHAKALA BRANCH, APPLE HERITAGE, GROUND FLOOR, 54-C, ANDHERI KURLA ROAD, CHAKALA, ANDHERI (E), MUMBAI - 400093, MAHARASHTRA, INDIA

A65499543

13

10148574

19/02/2009

10,000,000.00

BANK OF BARODA

CHAKALA BRANCH, APPLE HERITAGE, GROUND FLOOR, 54-C, ANDHERI KURLA ROAD, CHAKALA, ANDHERI (E), MUMBAI - 400093, MAHARASHTRA, INDIA

A58637646

14

10120439

29/08/2008

750,000,000.00

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

RAMON HOUSE 169 BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI - 400020, MAHARASHTRA, INDIA

A44607075

15

10096075

19/06/2012 *

2,000,000,000.00

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

RAMON HOUSE 169 BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI - 400020, MAHARASHTRA, INDIA

B42517581

16

80026811

20/02/2005

10,000,000.00

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

RAMON HOUSE 169 BACKBAY RECLAMATION, H T PAREKH MARG, MUMBAI - 400020, MAHARASHTRA, INDIA

-

*Date of charge modification

 

 

FIXED ASSETS:

 

·         Buildings

·         Office building

·         Plant and equipment

·         Other plant and equipment

·         Furniture and fixtures

·         Vehicles

·         Motor vehicles

·         Office equipment

·         Computer equipments

·         Other 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.63.50

UK Pound

1

Rs.99.17

Euro

1

Rs.69.36

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

ART

 

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

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

 

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

 

--

 

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.