MIRA INFORM REPORT
|
Report No. : |
329076 |
|
Report Date : |
25.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAHINDRA RETAIL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Mahindra Towers, P K Kurne Chowk Worli, Mumbai - 400018, Maharashtra |
|
Tel. No.: |
91-22-24905632 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
03.09.2007 |
|
|
|
|
Com. Reg. No.: |
11-173762 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4682.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52190MH2007PTC173762 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM33395F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM2868L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributing and Retailing of Lifestyle and Consumer Products through
its own branded stores. |
|
|
|
|
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 : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of “Retail Initiative Holdings Limited”. It is
an established company having satisfactory track record. The company has incurred huge accumulated losses. However, the rating
takes into consideration strong financial and managerial support that company
receives from its ultimate parent company (i.e. Mahindra and Mahindra
Limited) and healthy business prospects for the organized retail sector. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of strong holding company support, the company can be
considered for business dealings at usual trade terms and condition. |
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 |
CRISIL |
|
Rating |
Long Term Rating: “BBB+” |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
18.12.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: “A2” |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
18.12.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION DECLINED
MANAGEMENT NON CO-OPERATIVE (91-22-24905632/ 24905828/ 80-42665000)
LOCATIONS
|
Registered Office : |
Mahindra Towers, P K Kurne Chowk Worli, Mumbai - 400018, Maharashtra,
India |
|
Tel. No.: |
91-22-24905632/ 24905828/ 24935185/ 5186 / 24901441 |
|
Fax No.: |
91-22-2490833/ 24951236 |
|
E-Mail : |
|
|
|
|
|
Corporate Office: |
No. 165/2, 1st Main Road, Krishna Raju Layout, Dorai Sani
Palya, Bannerghatta Road, Bangalore – 560076, Karnataka, India |
|
Tel No.: |
91-80-42665000 |
|
Fax No.: |
91-80-42866300 |
DIRECTORS
AS ON 16.09.2014
|
Name : |
Mr. Zhooben Dosabhoy Bhiwandiwala |
|
Designation : |
Director |
|
Address : |
S-13, Cusrow Baug, Shahid Bhagat Singh Road, Colaba, Mumbai - 400039,
Maharashtra, India |
|
Date of Birth/Age : |
09.12.1959 |
|
Date of Appointment : |
21.09.2007 |
|
DIN No.: |
00110373 |
|
|
|
|
Name : |
Sheetal Mehta |
|
Designation : |
Additional Director |
|
Address : |
4, Mistry Manor, Napean Sea Road, Mumbai, 400006, Maharashtra, India |
|
Date of Appointment : |
05.03.2015 |
|
DIN No.: |
06495637 |
|
|
|
|
Name : |
Mr. Parag Chandulal Shah |
|
Designation : |
Director |
|
Address : |
7, Kailas, 50, Peddar Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
29.11.1975 |
|
Date of Appointment : |
03.11.2009 |
|
DIN No.: |
00374944 |
|
|
|
|
Name : |
Mr. Rajeev Bidyanand Dubey |
|
Designation : |
Director |
|
Address : |
1701, Mahindra Heights, 96, Tardeo Road, Mumbai - 400034, Maharashtra,
India |
|
Date of Birth/Age : |
03.04.1954 |
|
Date of Appointment : |
03.09.2007 |
|
DIN No.: |
00104817 |
|
|
|
|
Name : |
Mr. Shriprakash Shukla |
|
Designation : |
Director |
|
Address : |
C-Wing, Flat 2202, Chaitanya Towers, Appasaheb Marathe Marg,
Prabhadevi, Opposite Sidhivinayak Temple, Mumbai – 400025, Maharashtra, India
|
|
Date of Birth/Age : |
03.10.1959 |
|
Date of Appointment : |
21.09.2012 |
|
DIN No.: |
00007418 |
|
|
|
|
Name : |
Mr. Rafique Abdul Malik Malik |
|
Designation : |
Director |
|
Address : |
23/C, 20th Floor, Kanchenjunga, 72, Pedder Road, Mumbai – 400028,
Maharashtra, India |
|
Date of Birth/Age : |
30.10.1950 |
|
Date of Appointment : |
03.11.2009 |
|
DIN No.: |
00521563 |
|
|
|
|
Name : |
Mr. Arvind Kumar Singhal |
|
Designation : |
Nominee Director |
|
Address : |
3, Padmini Enclave, Hauz Khas, New Delhi - 110016, |
|
Date of Birth/Age : |
10.08.1958 |
|
Date of Appointment : |
17.12.2008 |
|
DIN No.: |
00709084 |
KEY EXECUTIVES
|
Name : |
Amar Arvind Korde |
|
Designation : |
Chief Finance Officer |
|
Address : |
E1002,Jacaranda,Brigade Mill,, JP Nagar 7th Phase, Bangalore, 560078, Karnataka, INDIA |
|
Date of Appointment : |
05.05.2015 |
|
PAN NO.: |
AHCPK9135D |
|
|
|
|
Name : |
Prakash Gopal Wakankar |
|
Designation : |
Chief Finance Officer |
|
Address : |
4, Nikhil Villa, 19 Carmichael Road, Cumballa Hill, Mumbai, 400026, Maharashtra, India |
|
Date of Appointment : |
12.08.2014 |
|
PAN NO.: |
AAGPW7322K |
|
|
|
|
Name : |
Rinkal Gaurav Mehta |
|
Designation : |
Secretary |
|
Address : |
E-7, Arihant Siddhi Chs, Sai Baba Mandir Marg,, Sai Baba Nagar, Borivali West, Mumbai, 400092, Maharashtra, India |
|
Date of Appointment : |
18.12.2014 |
|
PAN NO.: |
ADEPV2068A |
MAJOR SHAREHOLDERS
AS ON 16.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Technopak Advisors Private Limited, |
7173722 |
1.40 |
|
IDBI Trusteeship Services Limited (India Advantage Fund-V), India |
13000000 |
2.53 |
|
Retail Initiative Holdings Limited, |
493081266 |
96.07 |
|
Total |
513254988 |
100.00 |
As on 07.02.2015
|
Names of Allottee |
No. of Shares |
|
Retail Initiative Holdings Limited, |
20208248 |
|
Total |
20208248 |
Equity Share Break up (Percentage of Total Equity)
AS ON 16.09.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributing and Retailing of Lifestyle and Consumer Products through its
own branded stores. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India
|
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Facilities : |
NOTE LONG TERM BORROWINGS Term Loans from bank is secured by charge on entire fixed assets of the company created/proposed to be created out of the term loan availed. The term loan carries interest rate @ 12.7% per annum and repayble in 8 quaterly instalments from 30.06.2013. Amount repayable in next one year is classified in other current liabilities SHORT TERM BORROWINGS a. Cash credit from bank is secured by hypothecation of the entire current asset of the company both present and future. The cash credit carries interest rate @ 12.7% per annum. b. ICD from related parties are unsecured and it carries
interest rate ranging from 11.50% to 12.70% per annum. |
|
Auditors : |
|
|
Name : |
B. K. Khare and Company Chartered Accountants |
|
Address : |
706/708l, Sharda Chambers, New Marine Lines, Mumbai-400020, |
|
Tel. No.: |
91-22-22000607/ 7318/ 6360/ 56315835/ 36 |
|
Fax No.: |
91-22-22003476 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB0265E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
Retail Initiative Holding Limited, India CIN No.: U67110MH2008PLC188837 |
|
|
|
|
Ultimate
Holding Company : |
Mahindra and Mahindra Limited, India |
|
|
|
|
Fellow
Subsidiary Company : |
· Mahindra Holidays and Resorts India Limited, India · Mahindra Logistics Limited, India · Mahindra EPC Services Private Limited, India · Mahindra Intergrade Limited, India · Mahindra and Mahindra Financial Services Limited, India · Bristlecone India Limited, India · Mahindra First Choice Wheels Limited, India · Mahindra BPO Services Private Limited, India |
CAPITAL STRUCTURE
After 16.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
550,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 5500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
533,463,236 |
Equity Shares |
Rs.10/- each |
Rs. 5334.632 Millions |
|
|
|
|
|
As On 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
550,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 5500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
468,254,988 |
Equity Shares |
Rs.10/- each |
Rs. 4682.500 Millions |
|
|
|
|
|
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 |
4682.500 |
3882.500 |
3082.500 |
|
(b) Reserves & Surplus |
(4632.400) |
(3492.500) |
(2351.300) |
|
(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) |
50.100 |
390.000 |
731.200 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
219.700 |
129.400 |
|
(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 |
17.600 |
15.800 |
8.800 |
|
Total Non-current
Liabilities (3) |
17.600 |
235.500 |
138.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
588.100 |
453.500 |
72.400 |
|
(b) Trade
payables |
361.300 |
506.200 |
259.300 |
|
(c) Other
current liabilities |
302.000 |
270.000 |
169.100 |
|
(d) Short-term
provisions |
6.300 |
4.300 |
1.000 |
|
Total Current
Liabilities (4) |
1257.700 |
1234.000 |
501.800 |
|
|
|
|
|
|
TOTAL |
1325.400 |
1859.500 |
1371.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
395.000 |
575.700 |
516.100 |
|
(ii)
Intangible Assets |
5.200 |
8.700 |
5.300 |
|
(iii)
Capital work-in-progress |
0.900 |
2.000 |
9.300 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
190.900 |
255.300 |
205.100 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
592.000 |
841.700 |
735.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
532.800 |
692.700 |
528.600 |
|
(c) Trade
receivables |
63.200 |
129.400 |
24.900 |
|
(d) Cash
and cash equivalents |
30.600 |
30.200 |
38.600 |
|
(e)
Short-term loans and advances |
106.800 |
165.500 |
43.300 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
733.400 |
1017.800 |
635.400 |
|
|
|
|
|
|
TOTAL |
1325.400 |
1859.500 |
1371.200 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2060.000 |
1967.000 |
1106.800 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(846.500) |
(865.600) |
(653.400) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
113.800 |
103.700 |
50.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(960.300) |
(969.300) |
(703.700) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
179.700 |
171.900 |
125.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(1140.000) |
(1141.200) |
(829.500) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(1140.000) |
(1141.200) |
(829.500) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(3492.500) |
(2351.300) |
(1521.800) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(4632.500) |
(3492.500) |
(2351.300) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(2.43) |
(2.94) |
(2.69) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
174.600 |
129.400 |
24.300 |
|
Cash generated from operations |
195.500 |
(187.100) |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(55.34) |
(58.02) |
(74.95) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(41.09) |
(44.01) |
(59.04) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(86.07) |
(61.44) |
(60.91) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(22.75) |
(2.93) |
(1.13) |
|
ss |
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.49 |
0.33 |
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.58 |
0.82 |
1.27 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
3082.500 |
3882.500 |
4682.500 |
|
Reserves & Surplus |
(2351.300) |
(3492.500) |
(4632.400) |
|
Net
worth |
731.200 |
390.000 |
50.100 |
|
|
|
|
|
|
long-term borrowings |
129.400 |
219.700 |
0.000 |
|
Short term borrowings |
72.400 |
453.500 |
588.100 |
|
Total
borrowings |
201.800 |
673.200 |
588.100 |
|
Debt/Equity
ratio |
0.276 |
1.726 |
11.739 |
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 |
1106.800 |
1967.000 |
2060.000 |
|
|
|
77.720 |
4.728 |
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 |
1106.800 |
1967.000 |
2060.000 |
|
Profit |
(829.500) |
(1141.200) |
(1140.000) |
|
|
(74.95%) |
(58.02%) |
(55.34%) |
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 |
Yes |
|
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: 20/08/2014 |
|||||
|
LODGING NO:- NMAL/1909/2014 |
FILING DATE:- 20/08/2014 |
|
|||
|
Main Matter |
|||||
|
Lodging No.: |
APPL/516/2014 |
|
|||
|
PETITIONER:- |
MNM MARKETING PRIVATE LIMITED AND ANR MID INDIA ENTERPRISES PRIVATE
LIMITED |
RESPONDENT:- |
MAHINDRA AND MAHINDRA LIMITED AND ANR MAHINDRA RETAIL PRIVATE LIMITED |
||
|
PETN.ADV:- |
MAHESH A. MAHADGUT (0) |
|
|||
|
DISTRICT:- |
NAGPUR |
||||
|
BENCH:- |
DIVISION |
|
|
||
|
STATUS:- |
PRE-ADMISSION |
CATEGORY:- |
NOTICE OF MOTION (APPEAL) |
||
|
LAST DATE:- |
09/06/2015 |
STAGE:- |
-- |
||
|
CORAM:- |
HON'BLE SHRI JUSTICE NARESH H. PATIL HON'BLE SHRI JUSTICE V.L. ACHALIYA |
||||
|
ACT:- |
CODE OF CIVIL PROCEDURE 1908 |
||||
OPERATIONS:
The Company recorded revenues of Rs. 2060.000 Million as compared to Rs. 1967.000 Million in the previous year. Loss after tax for the year was Rs.1140.000 Million as compared to Rs. 1141.200 Million in the previous year.
s
UNSECURED LOAN
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances/ ICDs from related parties |
250.000 |
150.000 |
|
Total |
250.000 |
150.000 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10522809 |
05/09/2014 |
800,900,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH, EXPRESS
BUILDING, SECOND FLOOR, NO.1, QUEEN'S ROAD, BANGALORE, KARNATAKA |
C23530983 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Other money for which company is contingently liable |
0.036 |
0.036 |
FIXED ASSETS
Tangible
Assets
· Computer and Peripherals
· Furniture’s and Fixture’s
· Motor Vehicles
· Office Equipments
· Leasehold Improvements
Intangible
Assets
· Software’s
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.63.66 |
|
UK Pound |
1 |
Rs.100.50 |
|
Euro |
1 |
Rs.71.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
GTA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
-- |
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
-- |
|
--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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.