|
|
|
MIRA INFORM REPORT
|
Report No. : |
489210 |
|
Report Date : |
31.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
INCLINE REALTY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Commerz, 3rd Floor, International Business Park, Oberoi Garden City,
Off W.E. Highway, Goregaon (East), Mumbai – 400063, Maharashtra |
|
Tel. No.: |
91-22-66773333 |
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|
|
|
Country : |
India |
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|
|
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Financials (as
on) : |
31.03.2016 |
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|
|
|
Date of Incorporation
: |
25.03.2014 |
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|
|
|
Com. Reg. No.: |
11-255010 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 50.000 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U45400MH2014PTC255010 |
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|
|
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IEC No.: |
Not Divulged |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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GSTIN : |
Not Divulged |
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|
|
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PAN No.: [Permanent Account No.] |
AADCI5238A |
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|
|
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Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
The Company is engaged in the activities of Real Estate Development. On the real estate development front, the Company is in the process of developing residential project and intends to develop commercial, retail and hospitality project. (Registered activity) |
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|
|
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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 |
|
Maximum Credit Limit : |
USD 75000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of “Oberoi Realty Limited (ORL)”
incorporated in the year 2014. It is engaged into real estate business
development. As per Registrar of Companies, the date of balance sheet i.e.
financials filed is shown as 31st March, 2017 but documents
related to the financials for the year 2017 are not available from any
sources. As per available financials of 2016, the company has not undertaken
any business operation and reported losses which has resulted negative
reserve level. Rating gets constrained on account of limited track of its business
operations along with high inventory maintained by the company. However, these rating weakness gets partially offset by experience of
the promoters in the real estate industry and the company forthcoming
projects in a timely manner along with comfortable capita structure. Further, the company receives strong financial and managerial support
from “ORL”. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual 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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low
Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High
Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Non-Convertible Debenture = AA+ |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
21.09.2017 |
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
31-03-2016.
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 31.01.2018
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. Pratik Chilnis |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9768321139 |
|
Date : |
30.01.2018 |
MANAGEMENT NON-COOPERATIVE: Tel. No.: 91-80-28412935
LOCATIONS
|
Registered Office : |
Commerz, 3rd Floor, International Business Park, Oberoi Garden City,
Off W.E. Highway, Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Tel. No.: |
91-22-66773333 |
|
Mobile No.: |
91-9768321139 (Mr. Pratik Chilnis) |
|
Fax No.: |
Not Available |
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E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Vikas Ranvir Oberoi |
||||||||||||||||||||||||||||||||||||||||||||
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Designation : |
Director |
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|
Address : |
Plot No.70, 12th N S Road, J. V. P. D. Scheme, Juhu, Vile
Parle, Mumbai - 400049, Maharashtra,
India |
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Date of Birth/Age : |
08.09.1969 |
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Qualification : |
Owner’s / President’s Management Program from Harvard Business School |
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Date of Appointment : |
25.03.2014 |
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DIN No.: |
00011701 |
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Other Directorship:
|
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||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Bindu Ranvir Oberoi |
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Designation : |
Director |
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|
Address : |
Plot No.70, 12th N S Road, J V P D Scheme, Juhu, Vile Parle, Mumbai - 400049, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
20.08.1968 |
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Qualification : |
Bachelor’s degree in commerce |
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Date of Appointment : |
25.03.2014 |
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DIN No.: |
00837711 |
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Other Directorship:
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|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Bherulal Dayalal Choudhary |
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Designation : |
Director |
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Address : |
Flat No. 301, Everest Chambers 332, Mount Pleasant Road,
Malabar Hill,, Mumbai - 400006, Maharashtra, India |
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Date of Birth/Age : |
03.05.1967 |
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Qualification : |
Graduate in Commerce, Bachelor's degree in Law |
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Date of Appointment : |
20.08.2014 |
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DIN No.: |
00011905 |
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Other Directorship:
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|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Tilokchand Punamchand Ostwal |
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Designation : |
Director |
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Address : |
103 Falcon's Crest G.D. Ambekar Marg, Parel, Mumbai
400012, Maharashtra, India |
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Date of Birth/Age : |
07.11.1954 |
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Qualification : |
Bachelor’s degree in commerce, Fellow member of the Institute of Chartered Accountants of India |
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Date of Appointment : |
01.07.2015 |
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DIN No.: |
00821268 |
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Other Directorship:
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|
||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Saumil Ashwin Daru |
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Designation : |
Director |
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Address : |
A-2301 Oberoi Woods, OFF W Express Highway Goregaon East, Mumbai – 400063, Maharashtra, India |
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Date of Birth/Age : |
04.12.1970 |
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Qualification : |
Chartered Accountant |
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Date of Appointment : |
12.09.2017 |
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PAN No.: |
AAAPD4035G |
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DIN No.: |
03533268 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Rajendra Manohar Chandorkar |
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Designation : |
Director |
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Address : |
4402, 44th Floor, A Wing, CTS N, 3&4, 590/A/A/1,
Oberoi Exquisite, Vill Dindoshi, Oberoi Garden City, Goregaon East, Mumbai –
400063, Maharashtra, India |
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Date of Appointment : |
12.09.2017 |
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DIN No.: |
03626923 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Rajesh Dhondu Gaonkar |
|
Designation : |
Manager |
|
Address : |
D- 601, Orchid Suburbia, Bunder Pakhadi Road, OFF M. G. Road, Link Road, Kandivali (West), Mumbai – 400067, Maharashtra, India |
|
Date of Birth/Age : |
12.04.1977 |
|
Qualification : |
High School Certificate, Diploma in AutoCAD and Civil Draftsman |
|
Date of Appointment : |
28.04.2014 |
|
PAN No.: |
AHQPG2605L |
|
|
|
|
Name : |
Mr. Bhaskar Sudarshan Kshirsagar |
|
Designation : |
Company Secretary |
|
Address : |
E-302, Globe Heights, Off Filmcity Road, Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Date of Birth/Age : |
18.06.1981 |
|
Date of Appointment : |
05.04.2014 |
|
PAN No.: |
ANRPK0820G |
|
|
|
|
Name : |
Mr. Saumil Ashwin Daru |
|
Designation : |
Chief Finance Officer |
|
Address : |
A-2301 Oberoi Woods, OFF W Express Highway Goregaon East, Mumbai – 400063, Maharashtra, India |
|
Date of Birth/Age : |
04.12.1970 |
|
Date of Appointment : |
05.04.2014 |
|
PAN No.: |
AAAPD4035G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Vikas Ranvir Oberoi |
|
10 |
|
Oberoi Realty Limited, India |
|
4999989 |
|
Arunkumar Kotian and Oberoi Realty Limited |
|
1 |
|
Total |
|
5000000 |
Equity Share Break up (Percentage of Total Equity)
As on 12.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the activities of Real Estate Development. On the real estate development front, the Company is in the process of developing residential project and intends to develop commercial, retail and hospitality project. (Registered activity) |
|
|
|
|
Brand Names : |
Not Divulged |
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|
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Agencies Held : |
Not Divulged |
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|
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Exports : |
Not Divulged |
|
|
|
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Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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|
||||||||||||||||||||||
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No. of Employees : |
Information declined by the management |
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|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
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Financial
Institution : |
Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli,, Mumbai, Maharashtra - 400025, India |
|
|
|
|
Auditors : |
|
|
Name : |
P. Raj and Company Chartered Accountants |
|
Address : |
3/1218 Navjivan Commercial Premises CHS Limited, Lamington Road, Mumbai-400008, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AANFP6200G |
|
|
|
|
Secretarial Audit
Report : |
|
|
Name : |
Rathi and Associates |
|
Address : |
A-303, Prathamesh, 3rd Floor , Raghuvanshi Mills Compound, 11-12, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFR0194A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
L45200MH1998PLC114818 |
|
|
|
|
Fellow Subsidiary
company : |
U45202MH1993PLC074836 |
CAPITAL STRUCTURE
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
50.000 |
50.000 |
0.100 |
|
(b) Reserves & Surplus |
(23.697) |
(1.763) |
(0.033) |
|
(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) |
26.303 |
48.237 |
0.067 |
|
|
|
|
|
|
(3) Non(Current Liabilities |
|
|
|
|
(a) long(term borrowings |
3500.000 |
6000.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.099 |
0.000 |
|
(c) Other long term
liabilities |
2.191 |
0.025 |
0.000 |
|
(d) long(term provisions |
0.212 |
0.000 |
0.000 |
|
Total
Non(current Liabilities (3) |
3502.403 |
6000.124 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
10022.663 |
7507.897 |
0.000 |
|
(b) Trade payables |
35.816 |
2.580 |
0.000 |
|
(c) Other current liabilities |
4902.607 |
829.256 |
0.008 |
|
(d) Short(term provisions |
0.025 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
14961.111 |
8339.733 |
0.008 |
|
|
|
|
|
|
TOTAL |
18489.817 |
14388.094 |
0.075 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non(current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5.991 |
1.155 |
0.000 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work(in(progress |
0.000 |
1.378 |
0.000 |
|
(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) |
9.766 |
0.000 |
0.000 |
|
(d) Long(term Loan and Advances |
4.759 |
0.623 |
0.000 |
|
(e) Other Non(current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non(Current Assets |
20.516 |
3.156 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
98.900 |
0.000 |
0.000 |
|
(b) Inventories |
17684.106 |
13744.935 |
0.000 |
|
(c) Trade receivables |
278.068 |
0.000 |
0.000 |
|
(d) Cash and cash equivalents |
26.607 |
632.720 |
0.075 |
|
(e) Short(term loans and
advances |
381.620 |
7.032 |
0.000 |
|
(f) Other current assets |
0.000 |
0.251 |
0.000 |
|
Total
Current Assets |
18469.301 |
14384.938 |
0.075 |
|
|
|
|
|
|
TOTAL |
18489.817 |
14388.094 |
0.075 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
Other Income |
23.564 |
15.982 |
0.000 |
|
|
TOTAL
|
23.564 |
15.982 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(3939.171) |
(13744.935) |
0.000 |
|
|
Employees benefits expense |
12.730 |
0.796 |
0.000 |
|
|
Other expenses |
3980.499 |
13746.127 |
0.032 |
|
|
TOTAL |
54.058 |
1.988 |
0.032 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(30.494) |
13.994 |
(0.032) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
15.606 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(30.494) |
(1.612) |
(0.032) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
1.305 |
0.019 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(31.799) |
(1.631) |
(0.032) |
|
|
|
|
|
|
|
Less |
TAX |
(9.865) |
0.099 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(21.934) |
(1.730) |
(0.032) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
(4.39) |
(0.37) |
(3.26) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
0.000 |
510.000 |
0.000 |
|
Net cash flows from (used in) operations |
688.756 |
(13012.304) |
(0.024) |
|
Net cash flows from (used in) operating activities |
647.056 |
(13012.304) |
(0.024) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Total Income * 365 Days) |
4307.20 |
0.00 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
0.08 |
0.00 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(5.09) |
5.52 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
1.00 |
1.03 |
0.11 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
514.11 |
290.60 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
568.80 |
172.89 |
0.12 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.23 |
0.05 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
0.00 |
0.90 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Total
Income) * 100) |
% |
(93.08) |
(10.82) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets)
* 100) |
% |
(0.12) |
(0.01) |
(42.67) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(83.39) |
(3.59) |
(47.76) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.23 |
1.72 |
9.38 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.05 |
0.08 |
9.38 |
|
|
|
|
|
|
G(Score Ratio Financial (Networth / Total
Assets) |
0.00 |
0.00 |
0.89 |
|
|
|
|
|
|
G(Score Ratio Debt (Debts / Equity
Capital) |
270.45 |
280.36 |
0.00 |
|
|
|
|
|
|
G(Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.23 |
1.72 |
9.38 |
Total Liability = Short(term Debt + Long(term
Debt + Current Maturities of Long(term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
0.100 |
50.000 |
50.000 |
|
Reserves & Surplus |
(0.033) |
(1.763) |
(23.697) |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
0.067 |
48.237 |
26.303 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
6000.000 |
3500.000 |
|
Short Term borrowings |
0.000 |
7507.897 |
10022.663 |
|
Current Maturities of Long term debt |
0.000 |
510.000 |
0.000 |
|
Total
borrowings |
0.000 |
14017.897 |
13522.663 |
|
Debt/Equity
ratio |
0.000 |
290.605 |
514.111 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
0.000 |
15.982 |
23.564 |
|
|
|
|
47.441 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
0.000 |
15.982 |
23.564 |
|
Profit |
(0.032) |
(1.730) |
(21.934) |
|
|
|
(10.82%) |
(93.08%) |
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 |
No |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
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 |
NATURE OF BUSINESS
The Company is engaged in the activities of Real Estate Development. On the real estate development front, the Company is in the process of developing residential project and intends to develop commercial, retail and hospitality project.
FINANCIAL PERFORMANCE
During the year, the Total Revenue stood at INR 23.564 Million as compared to INR 15.982 Million for the year ended March 31, 2015. During the year, the Company incurred a loss before tax of INR 31.799 Million as against a loss of INR 1.631 Million during the period ended March 31, 2015. The loss after tax stood at INR 21.934 Million during the year as compared to a loss of INR 1.730 Million in the previous year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Non-convertible debentures others |
3500.000 |
6000.000 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Loans and advances from others |
10022.663 |
7507.897 |
|
|
|
|
|
Total |
13522.663 |
13507.897 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G47980768 |
100051029 |
AXIS TRUSTEE SERVICES LIMITED |
26/08/2016 |
13/06/2017 |
- |
7500000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLS COMPOUND, PANDHURANG BUDHKAR MARG, WORLI, MUMBAI – 400025, MAHARASHTRA, INDIA |
|
2 |
G08160483 |
10509619 |
AXIS TRUSTEE SERVICES LIMITED |
20/06/2014 |
31/03/2016 |
07/07/2016 |
3500000000.0 |
AXIS HOUSE, 2ND FLOOR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI – 400025, MAHARASHTRA, INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Claims against company not acknowledged as debt |
76.273 |
0.000 |
|
Other money for which company is contingently liable |
1.768 |
1.063 |
FIXED ASSETS
- Plant and equipment
- Furniture and fixtures
- 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 63.75 |
|
|
1 |
INR 89.38 |
|
Euro |
1 |
INR 78.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
NSR |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.