MIRA INFORM REPORT

 

 

Report No. :

341491.2

Report Date :

18.09.2015

 

IDENTIFICATION DETAILS

 

Name :

KEYSTONE REALTORS PRIVATE LIMITED

 

 

Registered Office :

702, Natraj, MV Road Junction, Western Express Highway, Andheri (East), Mumbai - 400069, Maharashtra

Tel. No.:

91-22-66766888

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

06.11.1995

 

 

Com. Reg. No.:

11-094208

 

 

Capital Investment / Paid-up Capital :

Rs. 0.216 Million

 

 

CIN No.:

[Company Identification No.]

U45200MH1995PTC094208

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMK05983F

 

 

PAN No.:

[Permanent Account No.]

AAACK2499Q

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in redevelopment of a real estate residential and commercial project.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Delayed

 

 

Litigation :

Clear

 

 

Comments :

Subject is a part of “Rustomjee” group a well-known real estate developers in Mumbai and Thane. Directors are reported as wealthy businessmen. They enjoy very favourable reputation in the real estate industry.

 

The company’s reserve and surplus position is strong. Although company has registered some losses which is insignificant against their huge operations and strong networth.

 

Market sources informed that their Payments to suppliers are delayed by 90-300 days. The company is reported to be facing liquidity crunch but in view of stable financial position, the company can be regarded as normal for business dealings at usual trade terms and conditions.

 

It is advisable to seek adequate security before granting large credits so that dues can be obtained as per their commitments.

 

 

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

 

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 31-03-2015.

 

 

INFORMATION DENIED

 

Management Non Cooperative (91-22-66766888)

 

 

LOCATIONS

 

Registered Office :

702, Natraj, MV Road Junction, Western Express Highway, Andheri (East), Mumbai - 400069, Maharashtra, India

Tel. No.:

91-22-66766888/ 66766776/ 66766778/ 61116111

Fax No.:

91-22-66766999

E-Mail :

cs@rustomjee.com

Website :

www.rustomjee.com  

 

 

Site Offices :

Located at:

 

Ø  ELANZA, Malad (West), Mumbai, Maharashtra, India

Ø  ELITE, Juhu, Mumbai, Maharashtra, India

Ø  MERIDIAN, Kandivali (West), Mumbai, Maharashtra, India.

Ø  Summit, Mumbai, Maharashtra, India

Ø  Global City, Virar (West), Maharashtra, India

Ø  URBANIA, Thane (West), Maharashtra, India

 

 

 

 

 

DIRECTORS

 

AS ON 22.12.2014

 

Name :

Mr. Boman Rustom Irani

Designation :

Managing Director

Address :

1602, Rustomjee LA Solita, TPS III, Off. Turner, Road, Near Guru Nanak Park,

Bandra West, Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

14.06.1969

Date of Appointment :

01.03.2005

PAN No.:

AADPI6172L

DIN No.:

00057453

 

 

Name :

Mr. Percy Sorabji Chowdhry

Designation :

Director

Address :

1501/1502, 14th Floor, Lasonrisa Diagonally, Opposite Ruia college, L. Napoo Road, Matunga East, CR, Mumbai – 400014, Maharashtra, India

Date of Birth/Age :

14.02.1971

Date of Appointment :

03.01.1999

PAN No.:

AAEPM9694C

DIN No.:

00057529

 

 

Name :

Mr. Chandresh Dinesh Mehta

Designation :

Director

Address :

Flat No. 1001, Beuna Vista, 10th Floor, St. Alexius Lane, Off Turner Road, Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

19.02.1969

Date of Appointment :

04.10.2004

PAN No.:

AAFPC4467Q

DIN No.:

00057575

 

 

Name :

Mr. Daniel Trevelyn Joseph

Designation :

Director

Address :

Flat No. 52, 5th Floor, Jasmine CHS, Madhusudan Kalelkar Marg, Bandra (East), Mumbai, Maharashtra, India

Date of Birth/Age :

21.12.1945

Date of Appointment :

29.04.2009

DIN No.:

01716572

 

 

Name :

Mr. Ramesh Dungarmal Tainwala

Designation :

Director

Address :

Flat No. 4/5, Plot No. 9, Road No. 8, The Shimmer Presidency Juhu JVPD, Mumbai - 400049, Maharashtra, India

Date of Birth/Age :

08.09.1959

Date of Appointment :

15.12.2014

DIN No.:

00234109

 

 

KEY EXECUTIVES

 

Name :

Mr. Bimal K Nanda

Designation :

Company Secretary

Address :

A-605, Ahinsha Terrace, Ahinsha Marg, Chincholi Bunder, Malad (West), Mumbai – 400064, Maharashtra, India

Date of Birth/Age :

28.10.1969

Date of Appointment :

24.09.2013

PAN No.:

AAKPN3838M

 

 

MAJOR SHAREHOLDERS

 

AS ON 22.12.2014

 

Names of Equity Shareholders

 

No. of Shares

Boman Rustom Irani

1206

Percy Sorabji Chowdhry

603

Chandresh Dinesh Mehta

603

Dreamz Dwellers Private Limited, India

72

Total

2484

 

 

Names of Preference Shareholders

 

No. of Shares

Boman Rustom Irani

108

Percy Sorabji Chowdhry

54

Chandresh Dinesh Mehta

54

 

 

Total

216

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 22.12.2014

 

Category

 

Percentage

Bodies corporate

2.90

Directors or relatives of Directors

97.10

 

 

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in redevelopment of a real estate residential and commercial project.

 

 

Products :

Item Code No.

Product Description

99531121

Multi-dwelling Residential Buildings units held by the families

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name :

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 :

Company Name :

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 :

Banker Name :

State Bank of India

Branch :

Commercial Branch(Advances), N.G.N. Vaidya Marg, Bank Street, Horniman Circle, Post Box No.10141,Fort, Mumbai - 400001, 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 :

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan) :

Not Divulged

Account Operation :

Not Divulged

Remark :

Not Divulged

 

  • The Zoroastrain Co-operative Bank Limited, Borivali (West) Branch, 8/1 Dattani Trade Centre, Chandvarkar Road, Borivali (West), Mumbai – 400092, Maharashtra, India

 

  • ICICI Bank Limited, ICICI Bank Tower, Bandra Kurla Complex, Bandra East, Mumbai - 400051,Maharashtra, India

 

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

Debentures

767.029

1302.660

Rupee term loans from banks

2892.984

695.086

Working capital loans from banks

956.040

112.326

Loans taken for vehicles

0.000

0.048

 

 

 

Total

4616.053

2110.120

 

 

Financial Institution :
  • IL & FS Trust Company Limited, Il & FS Financial Centreplot No C22 G Block Bandra, Kurla Complex Bandra East, Mumbai – 400051, Maharashtra, India

 

  • Indiabulls Financial Services Limited, F- 60, Malhotra Building, 2nd Floor, Connaught Place, New Delhi - 110001, India

 

 

Auditors :

 

Name :

Shyam Malpani and Associates

Chartered Accountants

Address :

307 Chartered House 297-299, Dr. Cawasji Hormasji,  Street Near Marine Lines Church, Mumbai – 400002, Maharashtra, India

PAN No.:

AADPM2684D

 

 

Memberships :

Not Divulged

 

 

Collaborators :

Not Divulged

 

 

Subsidiary company :
  • Kapstone Constructions Private Limited
  • Nouveau Developers Private Limited
  • Credence Property Developers Private Limited
  • Rustomjee Realty Private Limited
  • Rustomjee Realty Private Limited
  • Rustomjee Constructions Private Limited
  • Rustomjee Buildcon Private Limited
  • Enigma Constructions Private Limited
  • Megacorp Developers Private Limited
  • Suranjan Holding and Estate Developers Private Limited
  • Skyscraper – Care Joint Venture
  • Rustomjee Knowledge City Private Limited
  • Gemstone Developers Private Limited
  • Montage Developers Private Limited
  • Premium Build Tech Private Limited
  • Attarchand Trading Company Private Limited
  • Fire Stone Developers Private Limited
  • Charisma Developers Private Limited
  • Town and Country Realty Private Limited
  • Shalom Voyagers Private Limited

 

 

Enterprises which are owned, or have significant

influence of or are partners

with Key management personnel and their relatives:
  • Rustomjee Evershine Joint Venture
  • Sanguinity Realty Private Limited

 

 

Key Management Personnel :
  • Boaman Irani Family Trust
  • Percy Chowdhry Family Trust
  • Chandresh Mehta Family Trust

 

 

CAPITAL STRUCTURE

 

AS ON 22.12.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

19311500

Equity Shares

Rs.100/- each

Rs.1931.150 Million

490000

Preference Shares

Rs.100/- each

Rs.49.000 Million

 

 

 

 

 

Total

 

Rs.1980.150 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

2484

Equity Shares

Rs.100/- each

Rs.0.248 Million

216

Preference Shares

Rs.100/- each

Rs.0.022 Million

 

 

 

 

 

Total

 

Rs.0.270 Million

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

15000

Equity Shares

Rs.100/- each

Rs.1.500  Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2156

Equity Shares

Rs.100/- each

Rs. 0.216 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

0.216

0.270

0.270

(b) Reserves & Surplus

4065.059

2850.406

3729.166

(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)

4065.275

2850.676

3729.436

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.911

2349.911

2349.911

(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

12.151

15.245

14.601

Total Non-current Liabilities (3)

13.062

2365.156

2364.512

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

7146.361

4782.865

4589.804

(b) Trade payables

254.544

309.417

189.374

(c) Other current liabilities

4259.767

3990.603

4565.164

(d) Short-term provisions

203.527

238.447

177.123

Total Current Liabilities (4)

11864.199

9321.332

9521.465

 

 

 

 

TOTAL

15942.536

14537.164

15615.413

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

181.000

49.612

71.761

(ii) Intangible Assets

33.354

43.682

0.000

(iii) Capital work-in-progress

0.000

0.701

53.888

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

1588.874

7449.770

7499.237

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

841.626

695.853

787.958

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

2644.854

8239.618

8412.844

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

8184.470

4219.091

4498.723

(c) Trade receivables

473.110

183.429

518.724

(d) Cash and cash equivalents

113.734

97.219

216.154

(e) Short-term loans and advances

3420.951

1587.326

1773.918

(f) Other current assets

1105.417

210.481

195.050

Total Current Assets

13297.682

6297.546

7202.569

 

 

 

 

TOTAL

15942.536

14537.164

15615.413

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Total Income

2736.095

2006.453

2682.502

 

Other Income

 

 

 

 

TOTAL

2736.095

2006.453

2682.502

 

 

 

 

 

Less

EXPENSES

2861.819

2838.184

2855.247

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(125.724)

(831.731)

(172.745)

 

 

 

 

 

Less

TAX

0.000

47.029

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(125.724)

(878.760)

(172.745)

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(58313.54)

NA

NA

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

(831.731)

(172.745)

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

(0.88)

(11.74)

(2.14)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.03)

(0.29)

(0.05)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.76

2.50

1.86

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.12

0.68

0.76

 

 

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

0.270

0.270

0.216

Reserves & Surplus

3729.166

2850.406

4065.059

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

3729.436

2850.676

4065.275

 

 

 

 

long-term borrowings

2349.911

2349.911

0.911

Short term borrowings

4589.804

4782.865

7146.361

Total borrowings

6939.715

7132.776

7147.272

Debt/Equity ratio

1.861

2.502

1.758

 

 

 

 

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)

Total Income

2682.502

2006.453

2736.095

 

 

(25.202)

36.365

 

 

 

 

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

2682.502

2006.453

2736.095

Profit

(172.745)

(878.760)

(125.724)

 

(6.44%)

(43.80%)

(4.60%)

 

 

 

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

Yes

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

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

 

 

FINANCIAL OVERVIEW

 

The total income of the Company for Financial Year 2013-14 stood at Rs. 2736.095 Million increased by Rs. 729.642 Million from previous F.Y. 2012-13. Total expenses of the Company for the F.Y. 2013-14 stood at Rs. 2861.819 Million as compared to Rs. 2838.184 Million in the previous F.Y. 2012-13.

 

The Company recorded a net loss after tax of Rs. 125.724 Million for the year as against the net loss after tax of Rs. 878.760 Million for the previous Financial Year.

 

 

COMPANY OVERVIEW

 

Subject was incorporated on 6 November 1995 to construct, purchase, acquire, hire, operate, manage and develop land of real and personnel estate property such as residential units / complexes, commercial complexes, hotels, motels, clubs, malls, apartments, shopping complexes and any other types of infrastructure projects etc. on ownership basis or on Built Own Lease and Transfer basis in India. The Company is engaged in redevelopment of a real estate residential & commercial project in Mumbai.

 

 

 

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Fully convertible debentures others

0.911

2349.911

 

 

 

SHORT TERM BORROWING

 

 

Intercorporate deposits

2530.308

2672.745

 

 

 

Total

2531.219

5022.656

 

 

INDEX OF CHARGES

 

S.

No.

Charge id

Date of charge creation/modification

Charge amount secured

Charge holder

Address

Service request number (srn)

1

10566480

30/03/2015

230,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH ADVANCES, N.G.N VAIDYA MARG, BANK STREET, HORNIMAN CIRCLE, P. O. BOX NO. 10141, MUMBAI, MAHARASHTRA - 400001, INDIA

C52190394

2

10522633

26/09/2014

640,000,000.00

INDUSIND BANK LTD.

2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARASHTRA - 411001, INDIA

C23217474

3

10512363

30/07/2014

1,650,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BUILDING, GROUND FLOOR, 17, R. KAMANI ROAD,
BALLARD ESTATE, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

C14694665

4

10455840

10/10/2013

1,500,000,000.00

HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED

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

B87739348

5

10436155

14/06/2013

1,210,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH(ADVANCES), N.G.N.VAIDYA MARG,,
BANK STREET,HORNIMAN CIRCLE,POST BOX NO.10141, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

B79322855

6

10372367

30/06/2012

90,000,000.00

THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED

NIRLON HOUSE, 5TH FLOOR,, DR. ANNIE BESANT ROAD,
WORLI, MUMBAI, MAHARASHTRA - 400030, INDIA

B56331044

7

10293132

15/06/2011

2,000,000,000.00

HOUSING FINANCE DEVELOPMENT CORPORATION LIMITED

RAMON HOUSE , H.D PAREK MARG, 169 BACKBAY RECLAMA
TION, CHURCHGATE, MUMBAI, MAHARASHTRA - 400020, INDIA

B15318512

8

10259232

01/11/2010

850,000,000.00

ICICI BANK LIMITED

ICICI BANK TOWER, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA

A97957328

9

10230679

12/06/2010

350,000,000.00

3I INFOTECH TRUSTEESHIP SERVICES LIMITED

6TH FLOOR, ACKRUTI CENTRE POINT, MIDC CENTRAL ROAD, NEXT TO MAROL TELEPHONE EXCHANGE, ANDHERI (E),,
MUMBAI, MAHARASHTRA - 400093, INDIA

A89507255

10

10244409

17/03/2010

600,000,000.00

CENTRAL BANK OF INDIA

NARIMAN POINT BRANCH, CHANDER MUKHI, GROUND FLOOR, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

A88161591

11

10156788

20/11/2010 *

50,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH,, HORNIMAN CIRCLE, N.G. N. VAIDYA MARG, MUMBAI, MAHARASHTRA - 400023, INDIA

B03087608

12

90351713

04/04/2005

95,000,000.00

HDFC BANK LTD.

169; BACKBAY RECLAMATION, MUMBAI, MAHARASHTRA, INDIA

-

 

* Date of charge modification

 

FIXED ASSETS

 

Tangible assets

 

  • Land
  • Buildings
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment
  • Computer equipments
  • Leasehold improvements

 

Intangible assets

 

  • 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, 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.66.50

UK Pound

1

Rs.102.00

Euro

1

Rs.75.03

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

NKT / KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

2

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--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

 

42

 

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.