MIRA INFORM REPORT
|
Report No. : |
312038 |
|
Report Date : |
13.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
CITY REALTY AND DEVELOPMENT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
City Chambers, 917/19A, F C
Road, Pune – 411004, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
17.08.2005 |
|
|
|
|
Com. Reg. No.: |
11-021147 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2120.584 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45209PN2005PTC021147 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEC07112A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC6632K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Construction Activities |
|
|
|
|
No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture between Horizon Ventures V, Mauritius and
City Group, Pune. It is an established company having moderate track record. The rating is constrained on account of huge accumulated losses
incurred by the company over the years. However, trade relations seem to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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 |
ICRA |
|
Rating |
Long term rating = BB+ |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
July 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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Vinayak |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-32416783 |
|
Date : |
12.03.2015 |
LOCATIONS
|
Registered Office : |
City Chambers, 917/19A, F C
Road, Pune – 411004, Maharashtra, India |
|
Tel. No.: |
91-20-25654555 |
|
Fax No.: |
91-20-25657555 |
|
E-Mail : |
|
|
|
|
|
Head Office : |
Amaora Town Centre, Hadapsar, Kharadi Bypass Hadapsar, Pune – 411028,
Maharashtra, India |
|
Tel. No.: |
91-20-67267883/ 4 |
|
|
|
|
Correspondence Office : |
One Indiabulls Centre, 16th Floor, Tower 2A, Jupiter Mills
Compound, Senapati Bapat Marg, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-40406000/ 32416783 |
|
Fax No.: |
91-22-40436068 |
DIRECTORS
AS ON 28.10.2014
|
Name : |
Mr. Aniruddha Pradyumna Deshpande |
|
Designation : |
Director |
|
Address : |
D-301, 1 Modi Baug, Ganesh Khind Road, Near Agricultural College, Shivaji Nagar, Pune – 411016, Maharashtra, India |
|
Date of Birth/Age : |
29.03.1960 |
|
Date of Appointment : |
17.08.2005 |
|
DIN No.: |
00023026 |
|
|
|
|
Name : |
Mr. Rajesh Satinderpal Jaggi |
|
Designation : |
Director |
|
Address : |
26 Blue Heaven, 2nd Floor, Mount Pleasant Road, Malabar Hill, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
25.06.1962 |
|
Date of Appointment : |
19.12.2012 |
|
DIN No.: |
00046853 |
|
|
|
|
Name : |
Mr. Arun Shridhar Patkie |
|
Designation : |
Director |
|
Address : |
B-10, Kamdar Park Society, N.M. Kale Marg, Prabhadevi, Dadar [West], Mumbai 400028, Maharashtra, India |
|
Date of Birth/Age : |
25.06.1962 |
|
Date of Appointment : |
26.02.2008 |
|
DIN No.: |
00782735 |
|
|
|
|
Name : |
Mr. Himesh Dinesh Lakhani |
|
Designation : |
Director |
|
Address : |
A/104, Highland Harmony CHS Limited, Mahavir Nagar, Panchasheel Enclave, Kandivali West, Mumbai – 400067, Maharashtra, India |
|
Date of Birth/Age : |
08.10.1977 |
|
Date of Appointment : |
17.06.2010 |
|
DIN No.: |
01210700 |
|
|
|
|
Name : |
Mr. Rahul Nair |
|
Designation : |
Director |
|
Address : |
1507, Tower D, Ashok Towers, Dr. S.S. Rao Road, Parel, Mumbai – 411046, Maharashtra, India |
|
Date of Birth/Age : |
16.12.1971 |
|
Date of Appointment : |
21.07.2011 |
|
DIN No.: |
01755435 |
|
|
|
|
Name : |
Mr. Ashwin Govindan Moolyil |
|
Designation : |
Director |
|
Address : |
902, 9th Floor, Ruby Nirmal Lifestyle, L B S Road, Mulund (West), Mumbai – 400080, Maharashtra, India |
|
Date of Birth/Age : |
16.12.1971 |
|
Date of Appointment : |
15.02.2013 |
|
DIN No.: |
02846815 |
|
|
|
|
Name : |
Mr. Mehul Sevantilal Shah |
|
Designation : |
Director |
|
Address : |
165, Manibai Bhuvan, 10th Khethwadi, Back Road, 2nd Floor. Room No. 1, Mumbai – 400004, Maharashtra, India |
|
Date of Birth/Age : |
24.08.1984 |
|
Date of Appointment : |
17.06.2010 |
|
DIN No.: |
03070477 |
|
|
|
|
Name : |
Mr. Jaymalhar Krishnajirao Bhosale |
|
Designation : |
Director |
|
Address : |
Flat No. B-902, Sylvnia, Magarpatta City, Magarpatta, Hadapsar, Pune – 411028, Maharashtra, India |
|
Date of Birth/Age : |
24.08.1984 |
|
Date of Appointment : |
31.08.2012 |
|
DIN No.: |
05012698 |
|
|
|
|
Name : |
Mr. Ashok Kumar Srivastava |
|
Designation : |
Director |
|
Address : |
1203/3-B, Whispering Palms, Lokhandwala Township, Akruli Road, Kandivali (East), Mumbai – 400101, Maharashtra, India |
|
Date of Birth/Age : |
24.08.1984 |
|
Date of Appointment : |
15.02.2013 |
|
DIN No.: |
06499862 |
KEY EXECUTIVES
|
Name : |
Mr. Vinayak |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.10.2014
|
Name of the Shareholders |
Type and Number
of Shares Held |
||||
|
|
Common Equity |
Class A Equity
Shares |
Class B Equity
Shares |
Class X – 0.001%
Compulsorily Convertible Non-Cumulative Preference Shares |
Class Y – 0.001%
Optionally Convertible Non-Cumulative Preference Shares |
|
|
|
|
|
|
|
|
City Corporation Limited, India |
441000 |
Nil |
1725000 |
Nil |
36413581 |
|
Horizon Ventures V, Mauritius |
459000 |
1795410 |
Nil |
171224452 |
Nil |
|
|
|
|
|
|
|
|
Total |
900000 |
1795410 |
1725000 |
171224452 |
36413581 |
AS ON 28.10.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
51.00 |
|
Bodies
corporate |
49.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction Activities |
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Products/ Services : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
-- |
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Countries : |
-- |
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Imports : |
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||||
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Products : |
-- |
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Countries : |
-- |
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Terms : |
|
||||
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Selling : |
Cash and Credit [30 Days and 60 Days] |
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Purchasing : |
Cash and Credit [30 Days and 60 Days] |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users, OEMs and Corporate
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No. of Employees : |
800 (Approximately) |
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Bankers : |
· Central Bank of India Corporate Finance Branch, 1st Floor, MNO Building, Fort, Mumbai - 400023, Maharashtra, India · IDBI Bank Limited · Canara Bank · Indian Overseas Bank · Oriental Bank of Commerce ·
Yes Bank Limited |
||||||||||||||||||||||
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|
||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Financial Institution : |
· IDBI Trusteeship Services Limited Asian Biukding, Ground Floor, 17, R. Kamani Marg, Ballard Estate,
Mumbai - 400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
C - 401, 4th Floor, Panchshil Tech Park,
Yerwada (Near Don Bosco School) Pune – 411006, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9180N |
|
|
|
|
Holding company : |
Horizon Ventures V, Mauritius |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
· City Corporation Limited [U45202PN2003PLC018435] ·
Kshitij Property Solutions Private Limited
[U70109MH2006PTC161374] |
|
|
|
|
Fellow Subsidiary
company : |
Skyscapes Hotels Private Limited [U34102PN2004PTC019806] |
|
|
|
|
Other Related
Parties : |
· Amanora Hospitality Limited [U55204PN2007PLC130209] · Amanora Park Town Infrastructure Services Limited [U45203PN2007PLC130505] |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
215,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 2150.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 2200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,420,410 |
Equity Shares |
Rs. 10/- each |
Rs. 44.204 Millions |
|
207,638,033 |
Preference Shares |
Rs. 10/- each |
Rs. 2076.380 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 2120.584
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 |
2120.584 |
2120.584 |
2090.584 |
|
(b) Reserves & Surplus |
(1146.532) |
(947.005) |
(496.719) |
|
(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) |
974.052 |
1173.579 |
1593.865 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
2974.874 |
3205.571 |
3376.027 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
1053.677 |
139.910 |
137.761 |
|
(d)
long-term provisions |
0.332 |
0.285 |
0.138 |
|
Total
Non-current Liabilities (3) |
4028.883 |
3345.766 |
3513.926 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
3.500 |
3.500 |
3.500 |
|
(b)
Trade payables |
81.184 |
411.117 |
55.514 |
|
(c)
Other current liabilities |
737.504 |
1227.283 |
751.372 |
|
(d)
Short-term provisions |
0.136 |
0.136 |
0.349 |
|
Total
Current Liabilities (4) |
822.324 |
1642.036 |
810.735 |
|
|
|
|
|
|
TOTAL |
5825.259 |
6161.381 |
5918.526 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4968.606 |
5181.492 |
5301.068 |
|
(ii)
Intangible Assets |
0.255 |
0.230 |
0.259 |
|
(iii)
Capital work-in-progress |
29.615 |
31.593 |
31.582 |
|
(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 |
111.332 |
226.185 |
135.216 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
5109.808 |
5439.500 |
5468.125 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
42.543 |
49.764 |
36.818 |
|
(b)
Inventories |
383.216 |
349.261 |
228.625 |
|
(c)
Trade receivables |
192.727 |
141.032 |
51.964 |
|
(d)
Cash and cash equivalents |
93.714 |
135.844 |
59.042 |
|
(e)
Short-term loans and advances |
3.251 |
45.980 |
73.952 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
715.451 |
721.881 |
450.401 |
|
|
|
|
|
|
TOTAL |
5825.259 |
6161.381 |
5918.526 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
877.398 |
428.342 |
136.327 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1076.925 |
878.628 |
604.388 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(199.527) |
(450.286) |
(468.061) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(199.527) |
(450.286) |
(468.061) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(0.94) |
(2.12) |
(2.24) |
|
Expected Sales (2014-2015): Rs. 1000.000 Millions
The above information has been parted by Mr. Vinayak [Accounts Manager]
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.44) |
(7.35) |
(7.95) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.20) |
(0.38) |
(0.29) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.06 |
2.73 |
2.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.87 |
0.44 |
0.56 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
2090.584 |
2120.584 |
2120.584 |
|
Reserves & Surplus |
(496.719) |
(947.005) |
(1146.532) |
|
Net
worth |
1593.865 |
1173.579 |
974.052 |
|
|
|
|
|
|
Long-term borrowings |
3376.027 |
3205.571 |
2974.874 |
|
Short term borrowings |
3.500 |
3.500 |
3.500 |
|
Total
borrowings |
3379.527 |
3209.071 |
2978.374 |
|
Debt/Equity ratio |
2.120 |
2.734 |
3.058 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
136.327 |
428.342 |
877.398 |
|
|
|
214.202 |
104.836 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
136.327 |
428.342 |
877.398 |
|
Profit/ (Loss) |
(468.061) |
(450.286) |
(199.527) |
|
|
(343.34%) |
(105.12%) |
(22.74%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
238.437 |
181.246 |
110.730 |
|
|
|
|
|
|
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 |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
|
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 |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10329135 |
20/12/2011 |
3,500,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, MAKER TOWER 'E', GROUND FLOOR, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B29589975 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Intercorporate deposits |
3.500 |
3.500 |
|
|
|
|
|
Total |
3.500 |
3.500 |
OPERATIONS
Inspite of somewhat lower occupancy than the last year, the mall revenue
was up to Rs.877.390 millions (Rs.428.340 millions last year), mainly because
of sale of commercial spaces but also due to higher revenue from mall
operations. The malls in general are facing competition from online sales
platforms and also impact of somewhat sluggish economy. We expect improvement
in the coming years due to higher economic growth and purchasing power of urban
population. On 15/8/2014 mall had a record footfall of 151774 probably highest
for any mall in Pune. Handing over of the office units to its buyers is in
progress and a few offices are already functional.
ACCOLADES
Amanora Town Centre Mall continues to be the favorite Mall for Pune population
as a day destination. Board is happy to report that Amanora Town Centre was
recognized as the best shopping mall in the country. This award was given at
the National Real Estate Development Council function in New Delhi at the hands
of ShriVenkaiah Naidu, the Minister for Urban Development, Government of India
on 12/9/2014. Amanora Town Centre has also been awarded as ‘Best Retail
Project- 2013’ in Pune Region, by CNBC Real Estate.
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Other equipments
· Brands and trade marks
· Computer software
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 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. 62.57 |
|
|
1 |
Rs. 93.57 |
|
Euro |
1 |
Rs. 65.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.