|
|
|
MIRA INFORM REPORT
|
Report No. : |
508188 |
|
Report Date : |
15.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
EMBASSY OFFICE PARKS MANAGEMENT SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1st Floor, Embassy Point, 150 Infantry Road, Bangalore – 560001, Karnataka |
|
Tel. No.: |
91-80-33220000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
31.01.2014 |
|
|
|
|
Com. Reg. No.: |
08-073362 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 120.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70100KA2014PTC073362 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
29AADCE6193J1Z6 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCE6193J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of Providing Comprehensive Asset Management Services to Commercial Real Estate Projects. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a Joint Venture between “Embassy Property Private Limited” and “SG Indian Holding (NQ) Co I Pte Ltd” based in Singapore with 50:50 stake. It was incorporated in the year 2014 and is engaged in real estate activities on a fee or contract basis. As per financials of March 2017, the company has registered low operating revenue and has reported minimal profit. Rating takes into consideration the company’s limited track record of business operations marked by small capital base along with low reserves level and unfavourable gap between its trade payables to its trade receivables. Rating is further constrained on account of company’s presence highly competitive and huge working capital requirement real estate business. However, rating strength is partially offset by strong financial and managerial support received from its Joint Venture companies. Payment seems to be slow. In view aforesaid, the company can be considered for business dealings at safe and secured 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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
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 15.05.2018.
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
MANAGEMENT NON-COOPERATIVE [TEL. NO.: 91-80-33220000]
LOCATIONS
|
Registered Office : |
1st Floor, Embassy Point, 150 Infantry Road, Bangalore – 560001, Karnataka, India |
|
Tel. No.: |
91-80-41799999 |
|
Fax No.: |
91-80-22286912 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate office : |
Embassy Golf Links Business Park, Royal Oaks, Off
Intermediate Ring Road, |
|
Tel. No.: |
91-80-33220000/ 2222 |
|
Fax No.: |
91-80-33222223 |
|
|
|
|
Branch Office 1: |
Mena Kempala Arcade,
6th Floor B Wing, 113-114, Thyagaraya Road, T Nagar, |
|
Tel. No.: |
91-44-43997000 |
|
Fax No.: |
91-44-43997020 |
|
|
|
|
Branch Office 2: |
Plot No PL03, Rajiv Gandhi Infotech Park, Phase II, Hinjewadi, Pune – 411 057, Maharashtra, India |
|
Tel. No.: |
91-20-64730522 |
|
Fax No.: |
91-20-40260283 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Jitendra Virwani Mohandas |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
341, Embassy Woods, 6/A Cunnigham Road, Bangalore -
560052, Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of birth: |
18.02.1966 |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.03.2017 |
||||||||||||||||||||||||||||||||||||||||||||
|
Qualification: |
AAVPV0738P |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00027674 |
||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Vivek Mehra |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
B-314, New Friends Colony, New Delhi - 110065, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of birth: |
21.04.1955 |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
09.06.2017 |
||||||||||||||||||||||||||||||||||||||||||||
|
Qualification: |
AAIPM8597Q |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00101328 |
||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Tuhin Arvind Parikh |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Du P1, Takshshila, Tagore Road, Santacruz (West), Mumbai -
400054, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
16.06.2015 |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00544890 |
||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ranjan Ramdas Pai |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Block No. 1-B, Jakkur Plantation Village, Main Road Jakkur
Hobli, Yelahanka, Bangalore - 560064, Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
09.06.2017 |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00863123 |
||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
% age holding |
|
Embassy Property Developments Private Limited |
6000000 |
50.00 |
|
SG Indian Holding (NQ) Co. I Pte. Limited |
5970246 |
49.75 |
|
SG Indian Holding (NQ) Co. II Pte. Limited |
3870 |
0.03 |
|
SG Indian Holding (NQ) Co. III Pte. Limited |
25884 |
0.22 |
|
|
|
|
|
Total |
12000000 |
100.00 |
AS ON: 28.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Body corporate) |
50.00 |
|
Public/Other than promoters (Body corporate) |
50.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Providing Comprehensive Asset Management Services to Commercial Real Estate Projects. [Registered Activity] |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Not Divulged |
||||
|
|
|
||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountants |
|
Address : |
2015, Tower 2, Prestige Garden Bay Ivri Road, Off Doddaballapura Main Road, Near CRPF Avalahalli Yelahanka, Bangalore - 560064, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFB6889R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Embassy Office Parks Private Limited [U70100KA2012PTC065183] |
|
|
|
|
Ultimate holding
company |
JV Holding Private Limited (upto 24 March 2017) |
|
|
|
|
Other Associate Entities: |
· Manyata Promoters Private Limited [U70102KA2000PTC027477] · Pune-Embassy Projects Private Limited [U70102KA2007PTC041347] · Golflinks Software Park Private Limited [U45309KA2000PTC028147] · Vikas Telecom Private Limited [U64202KA1992PTC083998] |
|
|
|
|
Entities Having Joint Control: |
· Embassy Property Developments Private Limited [U85110KA1996PTC020897] · SG Indian Holding (NQ) Co. Pte. Ltd. (w.e.f.30.03.2017) |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
INR 10/- each |
INR 120.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR 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 |
120.000 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
65.189 |
12.337 |
(1.778) |
|
(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) |
185.189 |
12.437 |
(1.678) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
3.239 |
1.796 |
0.654 |
|
Total
Non-current Liabilities (3) |
3.239 |
1.796 |
0.654 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
0.000 |
0.000 |
0.000 |
|
(c)
Other current liabilities |
63.153 |
184.090 |
62.430 |
|
(d)
Short-term provisions |
0.449 |
0.287 |
0.586 |
|
Total
Current Liabilities (4) |
63.602 |
184.377 |
63.016 |
|
|
|
|
|
|
TOTAL |
252.030 |
198.610 |
61.992 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1.204 |
1.114 |
0.559 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
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) |
14.953 |
0.000 |
0.000 |
|
(d) Long-term Loan and
Advances |
0.550 |
0.300 |
7.040 |
|
(e)
Other Non-current assets |
26.313 |
25.303 |
0.472 |
|
Total
Non-Current Assets |
43.020 |
26.717 |
8.071 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
62.475 |
142.294 |
50.461 |
|
(d)
Cash and cash equivalents |
133.172 |
15.629 |
1.930 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f)
Other current assets |
13.363 |
13.970 |
1.530 |
|
Total
Current Assets |
209.010 |
171.893 |
53.921 |
|
|
|
|
|
|
TOTAL |
252.030 |
198.610 |
61.992 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
288.832 |
274.033 |
67.360 |
|
|
|
Other Income |
0.208 |
0.065 |
0.024 |
|
|
|
TOTAL |
289.040 |
274.098 |
67.384 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
164.896 |
134.363 |
43.387 |
|
|
|
Other expenses |
56.703 |
115.127 |
25.178 |
|
|
|
TOTAL |
221.599 |
249.490 |
68.565 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
67.441 |
24.608 |
(1.181) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
67.441 |
24.608 |
(1.181) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.705 |
0.341 |
0.060 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
66.736 |
24.267 |
(1.241) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
13.805 |
9.191 |
0.498 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
52.931 |
15.076 |
(1.739) |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(INR) |
178.77 |
1411.46 |
(173.93) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
28.484 |
42.450 |
2.958 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(0.730) |
14.036 |
2.459 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
78.95 |
189.53 |
273.43 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.62 |
1.93 |
1.33 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
56.01 |
22.09 |
(2.11) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.25 |
0.93 |
1.02 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.34 |
14.82 |
(37.55) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.01 |
0.09 |
(0.33) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.00
|
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
18.33 |
5.50 |
(2.58) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
21.00 |
7.59 |
(2.81) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
28.58 |
121.22 |
103.64 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.29 |
0.93 |
0.86 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
3.29 |
0.93 |
0.86 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.73 |
0.06 |
-0.03 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.29 |
0.93 |
0.86 |
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
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
0.100 |
0.100 |
120.000 |
|
Reserves & Surplus |
(1.778) |
12.337 |
65.189 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(1.678) |
12.437 |
185.189 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
67.360 |
274.033 |
288.832 |
|
|
|
306.819 |
5.400 |
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 |
67.360 |
274.033 |
288.832 |
|
Profit/(Loss) |
(1.739) |
15.076 |
52.931 |
|
|
(2.58%) |
5.50% |
18.33% |
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 |
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 |
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 |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
REVIEW OF OPERATIONS AND FUTURE OUTLOOK:
The Company is primarily engaged in the business of providing comprehensive asset management services to commercial real estate projects. The Company tailors its services to each property’s unique needs and owner’s goals; thus, protecting and enhancing value by minimizing operating costs, improving efficiencies and enhancing tenant experience. The Company is working significantly towards scaling up its operations.
The Company shall be acting as an Investment Manager for the proposed initial public offering of the units of the Embassy Office Parks REIT (“Issue”) under the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014.
To act as an Investment Manager to the above said proposed issue, the Company has to amend the main objects of the Memorandum of Association to include the above said Investment management activity, accordingly, the Company with the approval of shareholders at the Extra Ordinary General Meeting held on 22nd May, 2017 altered main objects in the Memorandum of Association of the Company.
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 67.32 |
|
UK Pound |
1 |
INR 91.25 |
|
Euro |
1 |
INR 80.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
VIK |
|
|
|
|
Report Prepared
by : |
ARC |
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.