|
|
|
MIRA INFORM REPORT
|
Report No. : |
516328 |
|
Report Date : |
28.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
L & T SOUTH CITY PROJECTS PRIVATE LIMITED (w.e.f. 18.04.2017) |
|
|
|
|
Formerly Known
As : |
L & T SOUTH CITY PROJECTS LIMITED (w.e.f. 07.07.2006) DINESH RANKA PROPERTY DEVELOPERS LIMITED (w.e.f. 05.04.2006) DINESH RANKA PROPERTY DEVELOPERS PRIVATE LIMITED |
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Registered
Office : |
Phase II, L & T Eden Park Township, M. R. Radha Main Road, Siruseri,
Kanchipuram, Chennai-603103, Tamilnadu |
|
Tel. No.: |
91-44-66600632 |
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|
|
|
Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
15.02.2006 |
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CIN No.: [Company Identification
No.] |
U70101TN2006PTC058866 |
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|
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Capital
Investment / Paid-up Capital : |
INR 564.762 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
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PAN No.: [Permanent Account No.] |
AACCD3198H |
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|
|
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GSTN : [Goods & Service Tax Registration
No.] |
Not Divulged |
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|
|
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of Development of
Residential / Commercial Township. [Registered Activity] |
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|
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 3830000 |
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|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Pragnya group and it was incorporated in the year
2006. It act as real estate developer, housing infrastructure developer,
building contractors and engineers decorates. As per Registrar of companies, the date of filling its financials is
shown as 31.03.2017 but documents related to the FY 2017 are not available
from any other sources. As per available financials of March 2016, the company has registered
sharp decline in its revenue from operations. Rating takes into consideration the company’s moderate scale of
business operations along with average liquidity position and unfavorable gap
between trade payables to its trade receivables. Rating is further constrained on account of company’s presence in
highly competitive and huge working capital requirement construction
industry. However, rating weakness is partially offset by sound net worth base
of the company. Payments seems to be slow. In view of aforesaid, the subject can be considered for business
dealings with some caution. Note: During March 2017, “L & T Realty Limited” has sold its entire shares in the company to “Pragnya Group’’ from INR 1900 million. |
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 (31.12.2017) |
Current Rating (01.04.2018) |
|
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
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
31-03-2018.
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 28.06.2018
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 DECLINED BY
|
Name : |
Mr. Gautam |
|
Designation : |
IT Department |
|
Contact No.: |
91-44-66600632 |
|
Date : |
23.06.2018 |
[91-9282511012] Incorrect number
LOCATIONS
|
Registered Office : |
Phase II, L & T Eden Park Township, M. R. Radha Main Road, Siruseri,
Kanchipuram, Chennai-603103, Tamilnadu, India
|
|
Tel. No.: |
91-44-66600632 |
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Fax No.: |
91-44-22526000 |
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E-Mail : |
DIRECTORS
AS ON: 2018
|
Name : |
Naidu Narayana Reddy |
||||||||||||||||
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Designation : |
Additional Director |
||||||||||||||||
|
Address : |
H. No. 8-2-293/82/B/2 Road No.12, Banjara
Hills, Hyderabad – 500034, Telangana, India |
||||||||||||||||
|
Date of Appointment : |
16.06.2017 |
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DIN No.: |
00349403 |
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Name : |
Mr. Ajay Kumar Gopal |
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Designation : |
Additional Director |
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Address : |
No. A3, Manyata Residency, Nagawara Ring
Road, Bangalore – 560045, Karnataka, India |
||||||||||||||||
|
Date of Appointment : |
16.06.2017 |
||||||||||||||||
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DIN No.: |
00431018 |
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||||||||||||||||
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Name : |
Sagi Venkata Ramakrishna |
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Designation : |
Additional Director |
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Address : |
1-10-69, Flat 502, Indra Mansion Ashok Nagar, Hyderabad-500020 , Telangana, India |
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|
Date of Appointment : |
16.06.2017 |
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DIN No.: |
01419938 |
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||||||||||||||||
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Name : |
Anuradha Venkatesh |
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Designation : |
Additional Director |
||||||||||||||||
|
Address : |
D3, Premier Grihalakshmi Apartments, No 24,
4th Seaward Road, Valmiki Tiruvanmiyur, Chennai – 600041, Tamilnadu, India |
||||||||||||||||
|
Date of Appointment : |
16.06.2017 |
||||||||||||||||
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DIN No.: |
03229111 |
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||||||||||||||||
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Name : |
Mr. Francis O Haokip |
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Designation : |
Director |
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Address : |
Flat No: 502, Patel Wisdom, Sreebagh
Colony, Behind ICICI Bank, Silicon Towers, Madhap Ur, Hyderabad – 500081,
Telangana, India |
||||||||||||||||
|
Date of Appointment : |
16.06.2017 |
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DIN No.: |
07154987 |
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||||||||||||||||
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Name : |
Mr. Nikhil Mulraj Toprani |
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Designation : |
Alternate Director |
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Address : |
199/5, Kailash Kutir, 1st Floor, Near Greater Bombay Co-Op Bank, Wadala (West), Mumbai-400031, Maharashtra, India |
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Date of Appointment : |
30.11.2017 |
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DIN No.: |
07403630 |
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||||||||||||||||
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Name : |
Mr. Maneesh Yadav |
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Designation : |
Casual Vacancy Director |
||||||||||||||||
|
Address : |
F - 1903, Oberoi Splendor, JVLR, Opposite Majas
Depot, Jogeshwari (East), Mumbai – 400060, Mahrashtra, India |
||||||||||||||||
|
Date of Appointment : |
17.01.2017 |
||||||||||||||||
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DIN No.: |
07670597 |
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KEY EXECUTIVES
|
Name : |
Karumuri Jaya Bharathi |
|
Designation : |
Company Secretary |
|
Address : |
Old No:2/115, New No:2/739,6th Cross Street, Kazura Garden Neelankarai, Chennai-600041, Tamilnadu, India |
|
Date of Appointment : |
01.12.2017 |
|
PAN No.: |
AAHPJ1676L |
|
|
|
|
Name : |
Mr. Gautam |
|
Designation : |
IT Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
IL & FS Trust Company Limited A/C Aditya Birla Real Estate Fund [ABREF] |
13836677 |
24.50 |
|
Pragnya Fund II, Mauritius |
9348870 |
16.55 |
|
Pragnya South City Opportunity Fund |
33290687 |
58.95 |
|
|
|
|
|
Total |
56476234 |
100.00 |
#Share Transfer 1:
L&T Realty Limited along with nominees has transferred its shareholding of 2880288 shares to Pragnya South City Opportunity Fund (22487688 shares) and Pragnya Fund II (6315192 shares) through NSDL on 20th March 2017.
#Share Transfer 2: Pragnya Fund 1 has transferred its shareholding of 13836677 shares to Pragnya South City opportunity Fund [10802999 shares] and Pragnya Fund II [3033678 shares] through NSDL on 29th March 2017.
However, the share transfer 1 has been contested by one of the equity shareholders, Aditya Birla Real Estate Fund [ABREF] in Hon`ble Madras High Court through petition and the Hon`ble High Court has vide its order dated 21st March 2017, grated injunction restraining the company from giving effect to the transfer of any shares either in its share and transfer books and in the register of members or in any other manner whatsoever. The Hon`ble Madras High Court vide its order dated 2nd June 2017 has transferred the cases to the arbitration Tribunal and the matter currently pending before the Arbitration Tribunal.
AS ON: 26.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Body Corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Development of
Residential / Commercial Township. [Registered Activity] |
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Products/ services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
Not Divulged |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Sharp and Tannan Chartered Accountants |
|
Address : |
No. 602, A Wing Anna Salai, Parsnmere Complex, Chennai – 600006, Tamilnadu, India |
|
PAN No.: |
AAAFS2512D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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Holding company : [AS ON: 31.03.2017] |
Pragnya South City Opportunity Fund |
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|
|
|
Holding company : [AS ON: 31.03.2016] |
L&T Realty Limited [U74200MH2007PLC176358] |
|
|
|
|
Ultimate holding company : [AS ON: 31.03.2016] |
Larsen and Toubro Limited [L99999MH1946PLC004768] |
|
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|
|
Fellow subsidiaries : [AS ON: 31.03.2016] |
·
Larsen & Toubro Infotech Limited
[U72900MH1996PLC104693] ·
L&T Infocity Limited ·
CSJ Infrastructure Private Limited
[U70101CH2006PTC029576] ·
Chennai Vision Developers Private Limited
[U70101TN2008PTC068877] ·
HDFC General Insurance Limited
[U66030MH2007PLC177117] |
CAPITAL STRUCTURE
AS ON: 26.09.2017
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
INR 10/- each |
INR 600.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
56476234 |
Equity Shares |
INR 10/- each |
INR 564.762 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 |
564.762 |
564.762 |
564.762 |
|
(b) Reserves & Surplus |
775.794 |
718.789 |
774.986 |
|
(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) |
1340.556 |
1283.551 |
1339.748 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
297.720 |
710.000 |
110.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
297.720 |
710.000 |
110.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
765.000 |
|
(b) Trade
payables |
259.145 |
27.301 |
51.749 |
|
(c) Other
current liabilities |
1531.925 |
594.385 |
141.846 |
|
(d) Short-term
provisions |
0.464 |
0.473 |
24.582 |
|
Total Current
Liabilities (4) |
1791.534 |
622.159 |
983.177 |
|
|
|
|
|
|
TOTAL |
3429.810 |
2615.710 |
2432.925 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
235.230 |
241.292 |
248.253 |
|
(ii)
Intangible Assets |
0.333 |
0.417 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.500 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
68.305 |
2.592 |
6.907 |
|
(d)
Long-term Loan and Advances |
1.336 |
2.384 |
1.738 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
305.204 |
246.685 |
257.398 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2714.561 |
2095.845 |
1917.098 |
|
(c) Trade
receivables |
67.533 |
55.370 |
0.000 |
|
(d) Cash
and cash equivalents |
55.747 |
160.228 |
198.247 |
|
(e)
Short-term loans and advances |
286.765 |
57.582 |
60.182 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
3124.606 |
2369.025 |
2175.527 |
|
|
|
|
|
|
TOTAL |
3429.810 |
2615.710 |
2432.925 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
7.407 |
26.050 |
32.314 |
|
|
Other Income |
6.204 |
0.856 |
10.020 |
|
|
TOTAL |
13.611 |
26.906 |
42.334 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
0.000 |
|
|
Employee benefit expense |
3.984 |
3.379 |
3.714 |
|
|
CSR expenditure |
0.000 |
1.710 |
0.000 |
|
|
Other expenses |
57.814 |
65.390 |
58.782 |
|
|
TOTAL |
61.798 |
70.479 |
62.496 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(48.187) |
(43.573) |
(20.162) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.001 |
0.010 |
42.146 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(48.188) |
(43.583) |
(62.308) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
7.320 |
8.242 |
4.071 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(55.508) |
(51.825) |
(66.379) |
|
|
|
|
|
|
|
Less |
TAX |
(112.513) |
4.315 |
6.534 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
57.005 |
(56.140) |
(72.913) |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and spare
parts |
152.622 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
152.622 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.01 |
(0.99) |
(1.29) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
512.280 |
0.000 |
0.000 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(119.694) |
252.400 |
(357.604) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(121.558) |
251.836 |
(359.036) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
3327.87 |
775.82 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
0.11 |
0.47 |
0.00 |
|
|
|
|
|
|
Average Payment Days [Sundry Creditors
/ Purchases * 365] |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(0.02) |
(0.02) |
(0.01) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(0.20) |
(0.18) |
(0.08) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.76 |
0.51 |
0.45 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.60 |
0.55 |
0.65 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.34 |
0.48 |
0.73 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.18 |
0.19 |
0.19 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(48187.00) |
(4357.30) |
(0.48) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
769.61 |
(215.51) |
(225.64) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.66 |
(2.15) |
(3.00) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.25 |
(4.37) |
(5.44) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.74 |
3.81 |
2.21 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.23 |
0.44 |
0.26 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.39 |
0.49 |
0.55 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.43 |
1.26 |
1.55 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.74 |
3.81 |
2.21 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
564.762 |
564.762 |
564.762 |
|
Reserves & Surplus |
774.986 |
718.789 |
775.794 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1339.748 |
1283.551 |
1340.556 |
|
|
|
|
|
|
long-term borrowings |
110.000 |
710.000 |
297.720 |
|
Short term borrowings |
765.000 |
0.000 |
0.000 |
|
Current Maturities of Long
term debt |
0.000 |
0.000 |
512.280 |
|
Total
borrowings |
875.000 |
710.000 |
810.000 |
|
Debt/Equity
ratio |
0.653 |
0.553 |
0.604 |
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 |
32.314 |
26.050 |
7.407 |
|
|
|
(19.385) |
(71.566) |
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 |
32.314 |
26.050 |
7.407 |
|
Profit/ (Loss) |
(72.913) |
(56.140) |
57.005 |
|
|
(225.64%) |
(215.51%) |
769.61% |
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 |
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 |
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 |
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 |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G81200685 |
100163056 |
LIC HOUSING FINANCE LTD |
19/02/2018 |
27/02/2018 |
- |
2000000000.0 |
BOMBAY LIFE BLDG., 2ND FLOOR,45/47, VEER NARIMAN ROAD,MUMBAI- 400 001.MA400001IN |
|
2 |
G56840796 |
100127923 |
L&T REALTY LIMITED |
22/09/2017 |
- |
- |
200000000.0 |
L&T HOUSEBALLARD ESTATEMUMBAIMA400001IN |
|
3 |
G77552495 |
10558055 |
VIJAYA BANK |
12/03/2015 |
- |
16/02/2018 |
1550000000.0 |
182, ANKUR MANOR, P.H. ROAD,KILPAUKCHENNAITN600010IN |
|
4 |
C48325757 |
10502229 |
VIJAYA BANK |
16/05/2014 |
- |
12/03/2015 |
510000000.0 |
182, ANKUR MANOR, P.H. ROAD,KILPAUKCHENNAITN600010IN |
|
5 |
C41301995 |
10479704 |
THE CATHOLIC SYRIAN BANK LIMITED |
24/01/2014 |
- |
13/01/2015 |
200000000.0 |
GUINDYCHENNAITN600016IN |
|
6 |
C36619625 |
10441110 |
VIJAYA BANK |
19/06/2013 |
18/03/2014 |
18/11/2014 |
400000000.0 |
VIJAYA BANKKILPAUKCHENNAITN600010IN |
|
7 |
B92817832 |
10410648 |
THE CATHOLIC SYRIAN BANK LTD |
18/02/2013 |
- |
18/11/2013 |
200000000.0 |
GUINDYCHANNAITN600016IN |
|
8 |
B67898965 |
10249008 |
THE CATHOLIC SYRIAN BANK LIMITED |
30/10/2010 |
- |
05/02/2013 |
600000000.0 |
GUINDYCHENNAITN600016IN |
|
9 |
A95308722 |
10072344 |
VIJAYA BANK |
03/10/2007 |
14/11/2007 |
29/09/2010 |
1400000000.0 |
PB NO. 3025DUGAR TOWERS, (GROUND FLOOR), 123, RUKMANI LAKSHMICHENNAITN600008IN |
|
1 |
G81200685 |
100163056 |
LIC HOUSING FINANCE LTD |
19/02/2018 |
27/02/2018 |
- |
2000000000.0 |
BOMBAY LIFE BLDG., 2ND FLOOR,45/47, VEER NARIMAN ROAD,MUMBAI- 400 001.MA400001IN |
CHANGE OF ADDRESS:
The Registered address of the company has been shifted from Mount Ponamallee
Road, Manapakkam, P.B.No.979, Chennai – 600089, Tamilnadu, India to the present
address
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
Claims against company not acknowledged as debt |
4.279 |
4.279 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
WEBSITE DETAILS
PRESS RELEASES/ NEWS:
15.03.2017
L&T REALTY TO
SELL STAKE IN CHENNAI TOWNSHIP PROJECT TO PRAGNYA GROUP
L&T Realty Limited, a wholly owned unit of engineering giant Larsen & Toubro Limited, has agreed to sell its entire 51% stake in a township project to real estate private equity firm Pragnya Group.
The deal for the stake in L&T South City Projects Private Limited is worth INR 1900.000 Million ($28.7 million), Larsen said in a stock-exchange filing on Tuesday.
L&T South City is developing a 92-acre residential township in Siruseri, Chennai.
The transaction is likely to be completed by the end of March, Larsen said.
The statement said that Pragnya South Opportunity Fund and Pragnya Fund II, funds managed by the PE firm, bought the stake.
Focused on India and Sri Lanka, Pragnya Group invests across residential, commercial and industrial real estate in Tier I and II cities. According to its website, it prefers to comes at an early stage in the project development cycle and collaborate for land acquisition and approvals. However, it is open to reviewing investment opportunities across different stages of the project cycle.
Pragnya Group and L&T Realty have collaborated for many projects over the years. The PE firm has investments in L&T Tech Park and L&T Eden Garden. Its portfolio also includes residential project Hazel in Chennai, Habitat Crest in Bangalore and Genexx Towers and Exotica in West Bengal.
L&T Realty, which has a strong presence in southern and western Indian markets, has been selling its stakes across projects lately. VCCircle reported last year that Blackstone Group, one of the largest owners of commercial real estate in India, bought into a retail-cum-commercial project of L&T Realty in one of the biggest transactions of the year. The PE giant had also shown interest to acquire some of the ongoing projects of the developer in Hyderabad.
L&T also sold its retail property – Elante Mall – in Chandigarh to Carnival Group last year.
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 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 68.52 |
|
UK Pound |
1 |
INR 90.60 |
|
Euro |
1 |
INR 79.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
RUP |
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.