MIRA INFORM REPORT

 

 

Report No. :

339150

Report Date :

08.09.2015

 

IDENTIFICATION DETAILS

 

Name :

RBD SHELTERS LLP

 

 

Formerly Known As :

RBD SHELTERS PRIVATE LIMITED

 

 

Registered Office :

Ferns Icon, 1st Floor, Marathahalli Outer Ring Road,  Bangalore – 560037, Karnataka

Tel. No.:

91-80-42452399

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

19.07.2013

 

 

Total Obligation of Contribution:

Rs. 0.100 Million

 

 

LLPIN:

AAB-6572

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Subject is engaged into Real Estate Developers.

 

 

No. of Employees :

15 (Approximately) 

 

 

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 was established as A. R. Development’s private limited in the year 2006. It was renamed as RBD Shelters private limited in the year 2011 and later in the year 2013 it was changed to RBD Shelters LLP in the year 2013. Mr. Sai from accounts department has informed that the subject is a partnership concern and it has started its business operations from FY-2011.

 

As per registrar of companies the concern has register its financial data for the year 31.03.2015 but we have financials for the year ended 31.03.2014.

 

As per the available financials for the year 2014, the concern possesses below average operational activity and it has incurred huge losses which has eroded the net worth position of the company.

 

However, trade relations are improving. Business is active. Payments terms are slow.

 

The concern can be considered for business dealings on fully safe and secure 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.

 

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

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 (GENERAL DETAILS)

 

Name :

Mr. Altaf Sharif

Designation :

Customer Relationship Manager

Contact No.:

91-80-42452399

Date :

02.09.2015

 

 

LOCATIONS

 

Registered Office :

Ferns Icon, 1st Floor, Marathahalli Outer Ring Road,  Bangalore – 560037, Karnataka, India

Tel. No.:

91-80-42452399

Mobile No.:

91-7760996141 (Mr. Altaf)

Fax No.:

91-80-42452346

E-Mail :

sai@ebdshelters.co

info@rbdshelters.com

Website :

http://www.rbdshelters.com

Location :

Owned

Locality:

Commercial

 

 

Head Office :

682, Tiara, 9 A, Main Road, 1st Stage, Indira Nagar, Opposite Oriental Bank of Commerce, Bangalore – 560038, Karnataka, India

Tel. No.:

91- -080-42452399/01

Fax No.:

91- -080-42452346

E-Mail :

 info@rbdshelters.com

 

 

Site Office:

No. 90, Haralur Village, Bangalore (East), Taluk, Varthur Hobli, Karnataka, India

 

 

PARTNERS

 

Name :

Mr. Austin Roach

Designation :

Partner

Address :

No. 5, 1st Main, Defence Colony, Indira Nagar, Bangalore - 560038, Karnataka, India

Date of Appointment :

19.07.2013

DIN No.:

00550581

 

 

Name :

Hilma Josephine Roach

Designation :

Partner

Address :

No. 5, I Main Defence Colony, Indiranagar, Bangalore - 560038, Karnataka, India

Date of Appointment :

19.07.2013

DIN No.:

00735898

 

 

KEY EXECUTIVES

 

Name :

Mr. Altaf Sharif

Designation :

Customer Relationship Manager

 

 

OBLIGATION DETAILS

 

Names of Person

 

Obligation of Contribution:

 

 

(Rs. In Million)

Austin Arthur Roach

 

0.050

Hilma Josephine Roach

 

0.050

Total

 

0.100

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged into Real Estate Developers.

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash, Payment and Cheque

 

 

Purchasing :

Cash, Payment and Cheque

 

 

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 :

15 (Approximately)

 

 

Bankers :

Banker Name

Kotak Mahindra Bank Limited

Branch Address

27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India

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 :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2013

As on

31.03.2012

LONG TERM BORROWING

 

 

Kotak Mahindra Bank Term Loan A/c 0422TL010000009

[repayable in quarterly instalments, Secured by the hypothecation of all the fixed assets, stocks and inventories, receivables, claims and secured by equitable mortgage on the immovable property land at Sy No. 5/1, 5/2 and 5/3, Yemlur, Kempapura, Bangalore and personally guaranteed by Director of the Company ]

39.051

0.000

Kotak Mahindra Prime Limited- Loan A/c No. CF-8328847

[Repayable in monthly installments, Secured by the hypothecation of varito car and personal guarantee of the Director of the Company]

0.310

0.000

Total

39.361

0.000

 

 

 

Auditors :

 

Name :

Nagarajan and Company

Chartered Accountants

Address :

No. 10, Trust Complex, III Floor, D. V. G. Road, Basavanagidu, Bangalore – 560004, Karnataka India

Tel. No.:

91-80-26619060

Fax No.:

91-80-26619050

E-Mail :

murthyca@dataone.in

murthyca@gmail.com

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Sister Concern :
  • Ferns Builders and Developers

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

25000

Equity Shares

Rs.100/- each

Rs.2.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000

Equity Shares

Rs.100/- each

Rs.0.100 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

0.100

0.100

(b) Reserves & Surplus

 

12.277

7.848

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

Total Shareholders’ Funds (1) + (2)

 

12.377

7.948

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

39.361

0.000

(b) Deferred tax liabilities (Net)

 

1.292

0.037

(c) Other long term liabilities

 

0.000

0.000

(d) long-term provisions

 

0.000

0.000

Total Non-current Liabilities (3)

 

40.653

0.037

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

24.142

30.882

(b) Trade payables

 

1.931

0.602

(c) Other current liabilities

 

41.133

11.102

(d) Short-term provisions

 

0.000

0.000

Total Current Liabilities (4)

 

67.206

42.586

 

 

 

 

TOTAL

 

120.236

50.571

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

4.991

4.090

(ii) Intangible Assets

 

0.000

0.000

(iii) Capital work-in-progress

 

0.000

0.000

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

14.718

9.162

(c) Deferred tax assets (net)

 

0.202

0.047

(d)  Long-term Loan and Advances

 

1.000

1.000

(e) Other Non-current assets

 

0.136

0.049

Total Non-Current Assets

 

21.047

14.348

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Work-in-progress

 

96.547

33.222

(c) Trade receivables

 

0.000

0.000

(d) Cash and cash equivalents

 

0.954

1.536

(e) Short-term loans and advances

 

1.688

0.465

(f) Other current assets

 

0.000

0.000

Total Current Assets

 

99.189

35.223

 

 

 

 

TOTAL

 

120.236

49.571

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

 

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

 

         NA

NA

 

Other Income

 

5.650

8.312

 

TOTAL

 

5.650

8.312

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Other expenses

 

0.000

0.037

 

TOTAL

 

0.000

0.037

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

 

1.377

1.022

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

4.273

7.253

 

 

 

 

 

Less

TAX

 

(0.155)

(0.047)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

4.428

7.300

 

The above information has been parted by Mr. Altaf Sharif (Customer Relationship Manager).

 

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

 

31.03.2013

31.03.2012

Current Maturities of Long term debt

 

5.138

NA 

Cash generated from operations

 

NA 

NA 

Net cash flows from (used in) operations

 

NA 

NA 

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2013

31.03.2012

Net Profit Margin
(PAT / Sales)

 

(%)

 

78.37

87.82

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

 

4.06

17.97

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

 

0.35

0.91

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

 

5.55

3.89

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

 

1.48

0.83

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

Share Capital

0.100

0.100

Reserves & Surplus

7.848

12.277

Net worth

7.948

12.377

 

 

 

long-term borrowings

0.000

39.361

Short term borrowings

30.882

24.142

Current maturities of long-term debts

0.000

5.138

Total borrowings

30.882

68.641

Debt/Equity ratio

3.886

5.546

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

Sales

8.312

5.650

 

(32.026)

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

Sales

8.312

5.650

Profit

7.300

4.428

 

87.82%

78.37%

 

 

 

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

No

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

No

25

Last accounts filed at ROC, if applicable

No

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 two years

Yes

30

Major shareholders, if available

No

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10511764

04/04/2014

300,000,000.00

KOTAK MAHINDRA BANK LIMITED

27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (East), MUMBAI, MAHARASHTRA - 400051, INDIA

L01682442

 

 

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.66.74

UK Pound

1

Rs.101.36

Euro

1

Rs.74.27

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

GTA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILITY

1~10

--

--LIQUIDITY

1~10

1

--LEVERAGE

1~10

1

--RESERVES

1~10

--

--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.