MIRA INFORM REPORT

Report No. :	328124
Report Date :	19.06.2015

IDENTIFICATION DETAILS

Name :	AA WALKER ESTATES PRIVATE LIMITED (w.e.f. 26.07.2011)

Formerly Known As :	AA WALKER REAL ESTATES PRIVATE LIMITED

Registered Office :	H. No. 6/194, Kobra Vaddo, Calangute – 403516, Goa
Tel. No.:	91-832-2275013

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	16.07.2009

Com. Reg. No.:	006136

Capital Investment / Paid-up Capital :	Rs.0.100 Million

CIN No.: [Company Identification No.]	U70101GA2009PTC006136

IEC No.:	Not Available

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 :	The company is engaged in real estate, construction and allied services.

No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security

Status :	Moderate

Payment Behaviour :	Slow

Litigation :	Clear

Comments :	Subject is an established company having moderate track. As per the financials of 2014, the company has incurred huge accumulated pre-operative losses which eroded the networth of the company. However, rating also takes into consideration huge external borrowing taken by the company which acts as a threat to its liquidity position. As per the directors report, the company has started the project but the revenue are yet to be generated. Business is active. Payment terms are reported to be slow. Subject can be considered for business dealings on fully and 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

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 PARTED BY

Name :	Brenda
Designation :	Accounts Manager
Contact No.:	91-832-2275013
Date :	18.06.2015

LOCATIONS

Registered Office :	H. No. 6/194, Kobra Vaddo, Calangute – 403516, Goa, India
Tel. No.:	91-832-2275013
Fax No.:	Not Available
E-Mail :	accounts@aawalker.in russell@barretoworld.com
Website :	http://aawalker.in

Calangute Office :	232/30, Kobra Vaddo, Bardez, Calangute – 403516, Goa, India
Tel. No.:	91-832-2914392, 2914365
E-Mail :	contact@aawalker.in

DIRECTORS

AS ON 30.09.2014

Name :	Ashwin Chander Chandiok
Designation :	Director
Address :	F-3, Anand Niketan, New Delhi - 110021, India
Date of Birth/Age :	16.03.1978
Date of Appointment :	16.07.2009
DIN No.:	00015353

Name :	Ranjit Kumar Chowdhury
Designation :	Director
Address :	5/147, Umta Vaddo, Bardez, Calangute - 403516, Goa, India
Date of Birth/Age :	08.03.1953
Date of Appointment :	16.07.2009
DIN No.:	02697615

Name :	Leao Francisco Marcos Machado Braganca
Designation :	Director
Address :	149, Gaunsavada, Bardez, Mapusa – 403507, Goa, India
Date of Birth/Age :	11.04.1953
Date of Appointment :	16.07.2009
Date of Cessation :	16.12.2014
DIN No.:	00040413

KEY EXECUTIVES

Name :	Brenda
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Ashwin Chander Chandiok	8,990	89.90
Ranjit Kumar Chowdhury	10	0.10
Prem Patnaik	1000	10.00

Total	10,000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	90.00
Other top fifty shareholders	10.00
Total	100.00

BUSINESS DETAILS

Line of Business :	The company is engaged in real estate, construction and allied services.

Services :	Real estate, construction and allied services

Brand Names :	Not Divulged

Agencies Held :	Not Divulged

Exports :	Not Divulged

Imports :	Not Divulged

Terms :	Not Divulged

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 Name	Not Divulged
Branch	Not Divulged
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
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)	Not Divulged

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Loans from Bank
Axis Bank – Car Loan, Mini Cooper S	1.479	1.926
Innova – Loan A/c 17973289	0.000	0.000
Swift Loan A/c No.18837665	0.156	0.273
Short-term borrowings
Loans repayable on demand
From Bank	0.000	0.000
Total	1.635	2.199

Auditors :
Name :	Barreto and Company Chartered Accountants
Address :	A-T/11, Block A, Campal Trade Centre, Opposite Kala Academy, Panaji – 403001, Goa, India
Tel. No.:	91.832-2428841
Mobile No.:	91-8888812777
E-Mail :	russell@barreto.in
	AFIPB2540R

Memberships :	----

Collaborators :	--

Subsidiary Company :	AA Walker Developers Private Limited [U70101GA2010PTC006545]

Associates Company and Concern	Candolim Beach Estates Private Limited AA Walker Resorts and Hotels Private Limited Chorao Islands Estates Private Limited Ashwin Holding Private Limited AA Walker Partnership Firm

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

10,000	Equity Shares	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10,000	Equity Shares	Rs.10/- each	Rs.0.100 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	0.100	0.100	0.100
(b) Reserves & Surplus	(60.391)	(57.979)	(56.813)
(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)	(60.291)	(57.879)	(56.713)

(3) Non-Current Liabilities
(a) long-term borrowings	1.635	2.199	0.632
(b) Deferred tax liabilities (Net)	0.000	0.000	0.010
(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)	1.635	2.199	0.642

(4) Current Liabilities
(a) Short term borrowings	274.896	281.351	97.088
(b) Trade payables	12.394	15.780	15.478
(c) Other current liabilities	65.364	47.310	2.623
(d) Short-term provisions	0.067	0.000	0.000
Total Current Liabilities (4)	352.721	344.441	115.189

TOTAL	294.065	288.761	59.118

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4.972	5.623	1.999
(ii) Intangible Assets	0.039	0.021	0.008
(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	0.099	0.099	0.099
(c) Deferred tax assets (net)	0.104	0.086	0.000
(d) Long-term Loan and Advances	0.103	0.103	0.068
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	5.317	5.932	2.174

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	221.665	117.373	29.960
(c) Trade receivables	10.657	10.648	9.818
(d) Cash and cash equivalents	8.271	101.553	1.464
(e) Short-term loans and advances	47.800	53.255	15.702
(f) Other current assets	0.355	0.000	0.000
Total Current Assets	288.748	282.829	56.944

TOTAL	294.065	288.761	59.118

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	0.000	0.000	38.800
	Other Income	0.002	0.000	0.000
	TOTAL (A)	0.002	0.000	38.800

Less	EXPENSES
	TOTAL (B)	1.366	0.620	67.624

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	(1.364)	(0.620)	(28.824)

Less	FINANCIAL EXPENSES (D)	0.000	0.000	10.338

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	(1.364)	(0.620)	(39.162)

Less/ Add	DEPRECIATION/ AMORTISATION (F)	1.065	0.643	0.449

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	(2.429)	(1.263)	(39.611)

Less	TAX (H)	(0.018)	(0.097)	(0.004)

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	(2.411)	(1.166)	(39.607)

	Earnings / (Loss) Per Share (Rs.)	(241.10)	(116.60)	-3960.65

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

0.565

0.759

0.342

Cash generated from operations

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.00	0.00	(102.08)

Operating Profit Margin (PBIDT/Sales)	(%)	0.00	0.00	(74.29)

Return on Total Assets (PBT/Total Assets}	(%)	-0.83	-0.44	(67.12)

Return on Investment (ROI) (PBT/Networth)		0.04	0.02	0.70

Debt Equity Ratio (Total Debt /Networth)		(4.60)	(4.91)	(1.73)

Current Ratio (Current Asset/Current Liability)		0.82	0.82	0.49

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	0.100	0.100	0.100
Reserves & Surplus	(56.813)	(57.979)	(60.391)
Share Application money pending allotment	0.000	0.000	0.000
Net worth	(56.713)	(57.879)	(60.291)

long-term borrowings	0.632	2.199	1.635
Short term borrowings	97.088	281.351	274.896
Current Maturities of Long Term Debt	0.342	0.759	0.565
Total borrowings	98.062	284.309	277.096
Debt/Equity ratio	(1.729)	(4.912)	(4.596)

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	38.800	0.000	0.002
		(100.000)	0.00

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	38.800	0.000	0.002
Profit/Loss	(39.607)	(1.166)	(2.411)
	(102.08%)	#DIV/0!	(120550.00%)

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	Yes
8	Designation of contact person	Yes
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	Yes
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	No
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans repayable on demand
From related parties
Ashwin Chandlok	28.892	116.351
From Prem Patnaik	50.000	50.000
From Others
Shashank Bhagat	11.500	0.000
Upsana Khanna	20.000	0.000
Loans from companies	164.504	115.000

Total	274.896	281.351

INDEX OF CHARGES : NO CHARGES EXIST FOR COMPANY

OPERATIONS

The company has started the projects but the revenue are yet to be generated.

In the view of loss, no dividend has been recommended by the Board.

CORPORATE INFORMATION

The company is engaged in real estate, construction and allied services.

FIXED ASSET

Computers and Laptop
Leasehold Land
Building
Plant and Machinery
Furniture and Fixtures
Vehicle
Equipment

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.84
UK Pound	1	Rs.100.99
Euro	1	Rs.72.45

INFORMATION DETAILS

Information Gathered by :	PPT

Analysis Done by :	SAN

Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	1
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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		11

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.

MIRA INFORM REPORT

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