|
|
|
MIRA INFORM REPORT
|
Report No. : |
502150 |
|
Report Date : |
07.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
SHREM RESORT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
401 Fourth Floor, Evershine Mall, New Link Road, Malad (West) Mumbai – 400064, Maharashtra |
|
Tel. No.: |
91-22-40337676 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
11.08.2010 |
|
|
|
|
Com. Reg. No.: |
11-206477 |
|
|
|
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Capital Investment
/ Paid-up Capital : |
INR 850.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70102MH2010PTC206477 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0311062997 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAOCS6601E |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
The Company is primarily engaged in Hospitality Business. (Registered
activity) |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
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|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2010. Shrem Resort Private Limited owns two hotel properties—Novotel Goa Shrem Hotel and Novotel Goa Resorts & Spa—near Candolim Beach in North Goa. The Accor Group is the operating and managing partner for both hotels. Novotel Goa Shrem Hotel started operations from October 9, 2013 and consists of 150 rooms (increased from 85 rooms to 150 rooms in December 2016). Novotel Goa Resorts & Spa started operations from July 10, 2014 and consists of 121 rooms, added in a phased manner. In August 2017, the company was sold by the Shrem Group (Mr. Nitan Chhatwal, Mr. Hitesh Chhatwal and family) to the new promoters (Mr. Sandip Kumar Gupta, Mr. Rajdip Kumar Gupta and family). As per the financial of 2017, the company has achieved a favourable growth of 25.20% in its revenue as compared to the previous year’s revenue and has gained a low profitability margin of 0.26%. The moderate financial position of the company is marked by negative reserve base along with modest debt balance sheet profile. Rating factors in the favourable location of both hotel properties near to Candolim Beach in North Goa and the management tie up with AccorHotels for its ‘Novotel’ brand and resulting benefits in the form of access to Accor’s global marketing network. Furthermore, the rating derives comfort from the provision for diversified revenue streams through large banqueting conference facilities, rental from casino operations and well positioned restaurants (including La Brise beachfront restaurant). Business is active. Payment seems to be slow. In view of aforesaid, 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 |
ICRA |
|
Rating |
Long Term Loans = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
21.12.2017 |
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
31-03-2018.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 07.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. S. Malani |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-42285500 |
|
Date : |
06.04.2018 |
LOCATIONS
|
Registered Office : |
401 Fourth Floor, Evershine Mall, New Link Road, Malad (West) Mumbai – 400064, Maharashtra |
|
Tel. No.: |
91-22-40337676 |
|
Mobile No.: |
91-9820031927 (Mr. Amar) |
|
Fax No.: |
91-22-42285566/ 77 |
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E-Mail : |
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|
Website.: |
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Hotel 1 : |
Anna Wade, Candolium, Marine Road, Next Tosolitude Complex, Goa –
403515, Maharashtra, India |
|
|
|
|
Hotel 2 : |
Novotel Goa Resorts and Spa, Pinto Wa Candolim, Goa – 403515,
Maharashtra, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Sandip Kumar Chandrakant Gupta |
|
Designation : |
Director |
|
Address : |
M/201, Panchsheel Gardens Mahavir Nagar, Kandivali (West), Mumbai – 400067, Maharashtra, India |
|
Date of Appointment : |
05.06.2017 |
|
DIN No.: |
01272932 |
|
|
|
|
Name : |
Mr. Rajdip Kumar Chandrakant Gupta |
|
Designation : |
Additional Director |
|
Address : |
M/201, Panchsheel Gardens Mahavir Nagar, Kandivali (West), Mumbai – 400067, Maharashtra, India |
|
Date of Appointment : |
06.09.2017 |
|
DIN No.: |
01272947 |
|
|
|
|
Name : |
Mr. Chandrakant Jagannath Gupta |
|
Designation : |
Additional Director |
|
Address : |
M/201, Panchsheel Gardens Mahavir Nagar, Kandivali (West), Mumbai – 400067, Maharashtra, India |
|
Date of Appointment : |
06.09.2017 |
|
DIN No.: |
01636981 |
KEY EXECUTIVES
|
Name : |
Mr. S. Malani |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Nitan Chhatwal |
|
5000 |
|
Hitesh Ramprakash Chhatwal |
|
5000 |
|
Chhatwal Group Trust (Beneficial Owner) Nitan Chhatwal Trustee (Registered Owner) |
|
37990000 |
|
Shrem Financial Private Limited |
|
47000000 |
|
|
|
|
|
Total |
|
85000000 |
Equity Share Break up (Percentage of Total Equity)
As on 02.08.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
0.01 |
|
Promoter - Bodies
corporate |
55.29 |
|
Promoter – Others
- Chhatwal Group Trust (Beneficial Owner) Nitan Chhatwal
Trustee (Registered Owner) |
44.69 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in Hospitality Business. (Registered
activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Chaturvedi and Chaturvedi Chartered Accountants |
|
Address : |
215 Laxmi Plaza, Laxmi Industrial Estate, New Link Road, Andheri West, Mumbai – 400053, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAFFC6792A |
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Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
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|
Holding company |
U67190MH2010PTC206680 |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
U65990MH2010PTC202522
U55102MH2005PTC302649
U27100MH2010PTC202211
U45200MH2010PTC202154
U93000MH2013PTC247497
U51109MH2010PTC202947 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85000000 |
Equity Shares |
INR 10/- each |
INR 850.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85000000 |
Equity Shares |
INR 10/- each |
INR 850.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
850.000 |
850.000 |
380.000 |
|
(b) Reserves and Surplus |
(153.027) |
(154.640) |
(171.040) |
|
(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) |
696.973 |
695.360 |
208.960 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
935.299 |
856.127 |
502.878 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
6.392 |
|
(d) long-term
provisions |
5.888 |
4.034 |
3.791 |
|
Total Non-current
Liabilities (3) |
941.187 |
860.161 |
513.061 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
863.434 |
947.938 |
1954.367 |
|
(b) Trade
payables |
32.780 |
27.584 |
45.379 |
|
(c) Other
current liabilities |
188.793 |
69.940 |
75.268 |
|
(d) Short-term
provisions |
0.686 |
0.505 |
0.131 |
|
Total Current
Liabilities (4) |
1085.693 |
1045.967 |
2075.145 |
|
|
|
|
|
|
TOTAL |
2723.853 |
2601.488 |
2797.166 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2300.978 |
2045.760 |
2058.306 |
|
(ii)
Intangible Assets |
12.151 |
17.175 |
22.963 |
|
(iii) Tangible assets
capital work-in-progress |
6.053 |
91.536 |
4.208 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
180.685 |
|
(c) Deferred tax assets (net) |
155.947 |
158.629 |
81.218 |
|
(d)
Long-term loans and advances |
47.373 |
5.146 |
5.091 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2522.502 |
2318.246 |
2352.471 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
15.399 |
13.959 |
14.900 |
|
(c) Trade
receivables |
52.253 |
46.623 |
32.271 |
|
(d) Cash and
bank balances |
74.890 |
22.198 |
54.155 |
|
(e)
Short-term loans and advances |
10.678 |
181.939 |
319.244 |
|
(f) Other current
assets |
48.131 |
18.523 |
24.125 |
|
Total
Current Assets |
201.351 |
283.242 |
444.695 |
|
|
|
|
|
|
TOTAL |
2723.853 |
2601.488 |
2797.166 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
614.624 |
490.923 |
289.018 |
|
|
Other Income |
116.779 |
35.127 |
52.133 |
|
|
TOTAL |
731.403 |
526.050 |
341.151 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
42.403 |
40.370 |
27.668 |
|
|
Employee benefit expense |
126.654 |
112.915 |
100.363 |
|
|
Other expenses |
259.782 |
214.343 |
144.179 |
|
|
Exceptional items before tax |
0.000 |
3.109 |
(48.095) |
|
|
TOTAL |
428.839 |
370.737 |
224.115 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
302.564 |
155.313 |
117.036 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
136.899 |
230.674 |
178.392 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
165.665 |
(75.361) |
(61.356) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
161.371 |
160.420 |
108.018 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
4.294 |
(235.781) |
(169.374) |
|
|
|
|
|
|
|
Less |
TAX |
2.682 |
(77.396) |
(54.415) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1.612 |
(158.385) |
(114.959) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
(329.640) |
(171.040) |
(56.081) |
|
|
|
|
|
|
|
Add |
Profit / Loss of Amalgmated Company |
0.000 |
(0.215) |
0.000 |
|
|
|
|
|
|
|
|
Balance Carried to the B/S |
(328.028) |
(329.640) |
(171.040) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.019 |
(1.863) |
(1.352) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
6.021 |
1.857 |
5.839 |
|
Net cash flows from (used in) operations |
253.126 |
(111.196) |
(116.757) |
|
Net cash flows from (used in) operating activities |
394.280 |
136.606 |
9.904 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
31.03 |
34.66 |
40.75 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
11.76 |
10.53 |
8.96 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
282.17 |
249.40 |
598.65 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
19.65 |
11.13 |
7.85 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.13 |
0.07 |
0.06 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.74 |
0.73 |
0.92 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
2.59 |
2.60 |
11.79 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ NetWorth) |
|
1.56 |
1.50 |
9.93 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
3.33 |
3.10 |
9.98 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
2.21 |
0.67 |
0.66 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
0.26 |
(32.26) |
(39.78) |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
0.06 |
(6.09) |
(4.11) |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
0.23 |
(22.78) |
(55.01) |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
0.19 |
0.27 |
0.21 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
0.17 |
0.26 |
0.21 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.26 |
0.27 |
0.07 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
2.12 |
2.12 |
6.48 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
0.19 |
0.27 |
0.21 |
Total Liability = Short-term
Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
380.000 |
850.000 |
850.000 |
|
Reserves & Surplus |
(171.040) |
(154.640) |
(153.027) |
|
Net
worth |
208.960 |
695.360 |
696.973 |
|
|
|
|
|
|
Long-term borrowings |
502.878 |
856.127 |
935.299 |
|
Short term borrowings |
1954.367 |
947.938 |
863.434 |
|
Current maturities of
long-term debts |
5.839 |
1.857 |
6.021 |
|
Total
borrowings |
2463.084 |
1805.922 |
1804.754 |
|
Debt/Equity
ratio |
11.787 |
2.597 |
2.589 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
289.018 |
490.923 |
614.624 |
|
|
|
69.859 |
25.198 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
289.018 |
490.923 |
614.624 |
|
Profit/ (Loss) |
(114.959) |
(158.385) |
1.612 |
|
|
(39.78
%) |
(32.26
%) |
0.26
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from 1101, Viraj Towers, Junction of Andheri Kurla Road, Western Express Highway, Near Landmark Building, Andheri (East), Mumbai – 400069, Maharashtra, India to the present address.
CORPORATE INFORMATION
The company was incorporated on 11th August, 2010. The Company is promoted by Chhatwal Group. The Company is primarily engaged in Hospitality Business. Head office of the company is located at 1101, Viraj towers, In. of Andheri -Kurla Road W. E. Highway, Andheri (East) Mumbai, 400 069. It inter alia owns "Novotel Goa Shrem Hotel" (name changed from Novotel Goa Shrem Resort effective from March, 2016) which is located at Anna Wad do, Main Candolim Road, Bardez, Goa - 403515 and "Novotel Goa Resorts & SPA" (name changed from Grand Mercure Goa Shrem Resort effective from March, 2016) which is located at Pinto Waddo, Off Candolim Road, Candolim, Bardez, Goa 403515.
OPERATIONS
The Company’s revenue from operations during the year increased to INR 614.624 Million from INR 490.923 Million in the previous year. However, the company recorded Net Profit of INR 1.612 Million as compared to loss of INR 158.385.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
261.795 |
0.000 |
|
|
|
|
|
Total |
261.795 |
0.000 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G54053483 |
100121899 |
IDBI TRUSTEESHIP SERVICES LIMITED |
14/08/2017 |
30/08/2017 |
- |
1420000000.0 |
Asian Building, Ground Floor17, R. Kamani Marg, Ballard Estate,MumbaiMH400001IN |
|
2 |
G51809853 |
100036346 |
Axis Bank Limited |
10/06/2016 |
07/09/2016 |
18/08/2017 |
1000000000.0 |
Axis House C-2 Wadia International Centre,Pandurang Budhkar Marg, WorliMumbaiMH400025IN |
|
3 |
G07492994 |
10554471 |
State Bank of India |
21/02/2015 |
- |
14/07/2016 |
500000000.0 |
Commercial Branch (Advance), N.G.N. Vaidya MargBank Street, Horniman Circle, Post Box-10141, FortMumbaiMH400001IN |
|
4 |
G07492804 |
10554468 |
State Bank of India |
21/02/2015 |
- |
14/07/2016 |
500000000.0 |
Commercial Branch (Advance), N.G.N. Vaidya MargBank Street, Horniman Circle, Post Box-10141, FortMumbaiMH400001IN |
|
5 |
G07492499 |
10554466 |
State Bank of India |
21/02/2015 |
- |
14/07/2016 |
500000000.0 |
Commercial Branch (Advance), N.G.N. Vaidya MargBank Street, Horniman Circle, Post Box-10141, FortMumbaiMH400001IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Guarantees |
62.263 |
85.369 |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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 records 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
|
INR |
|
US Dollar |
1 |
INR 65.02 |
|
|
1 |
INR 91.49 |
|
Euro |
1 |
INR 79.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
SWT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
KJL |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.