Attachment 1
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Report
Update On |
19th January, 2000 |
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Report on |
D. G. CONSULTANTS |
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Registered Office |
Second Floor, H. K. Complex, Near Dharnidhar Derasar, Paldi, Ahmedabad
-–380 007, Gujarat, INDIA |
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Tel. No. |
91-79-660 0077 / 663 6216 |
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Fax No. |
91-79-662 0536 |
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E-Mail |
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Telex |
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Attachment 2
S U M M A R Y
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Incorporated |
1996 |
Status |
Satisfactory |
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Registration No. |
-- |
Chief Executive |
Mr Nishith Sirishbhai Desai |
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Capital (Rs.) |
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Payments |
Slow but Correct |
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Sales (Rs.) |
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Litigation |
-- |
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Net Worth (Rs.) |
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Banking Reputation |
Satisfactory |
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No. of Employees |
25 – 30 |
Auditors |
-- |
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Credit Rating |
Ba (See attachment 3) |
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INDUSTRY
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STUDIO / DESIGN OFFICE
Manikyan Building, B/Side Shantanu Building, Near Classic Gold Hotel, Off C. G. Road, Ahmedabad – 380 006, Gujarat, INDIA
Tel. No. 91-79-640 3907
BRANCH
K 37 Adarsh Society, Athava Lines, Surat, Gujarat, INDIA
K 6/A Dwarka Apartments, Harikrishna Mandir Road, Model Colony, Pune – 411 001, Maharashtra, INDIA
K 43 Manisha Society, Old Padra Road, Baroda, Gujarat, INDIA
HISTORY
Subject was established in the year 1996 at Ahmedabad in Gujarat as a Partnership concern.
LEGAL FORM
It is a Partnership concern with Unlimited Liability of the partners.
PARTNERS
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Mr. Nishith Sirishbhai Desai |
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Mr. Jignesh Bharatbhai Gandhi |
PARTICULARS OF CHIEF EXECUTIVE
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Name |
Mr. Nishith Sirishbhai Desai |
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Designation |
Partner |
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Date of Birth |
24th March, 1965 |
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Qualification |
B.E. (Civil) |
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Experience |
12 years in Real Estate Development |
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Name |
Mr. Jignesh Bharatbhai Gandhi |
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Designation |
Partner |
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Date of Birth |
14th July, 1965 |
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Qualification |
M.E. Struct’ |
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Experience |
12 years |
BUSINESS
The concern is deployed to carryout infrastructure consultancy projects with foreign participation like Bridges, Highways, Dams, Harbours, Air Ports, Industrial and Residential Buildings.
Subject is a consultancy firm and has so far invested about Rs.0.7 to 0.8 million in this new venture.
The concern, so far have provided consultancy to projects worth Rs.3,000 millions. Government, Public & Private Undertakings as well as municipal corporations and highways and western railways. The concern was reluctant to part with exact turnover figures.
The concern has technical tie-up with Italian Infrastructure Engineering Consultancy major M/s. PROGIN S.p.a. (Bankers – Banque de Rome).
The concern was also offered technical collaboration from M/s. W. S. Alkvins of U.K. and Maunsell UK Limited, U.K.
However, the concern preferred to go ahead with PROGIN S.p.a. of Italy and has so far incurred preliminary/establishment expenses to the tune of Rs.0.75 to Rs.0.8 million for the joint venture D. G. Consultants.
PROGIN S.p.a. is supposed to open a bank account with the concern’s banker shortly, to look after their Indian operations.
The concern is anticipating Long Term Business Partnership/tie-up with PROGIN S.p.a. of Italy and their representative are expected to visit India in February this year and the concern’s partners will visit PROGIN S.p.a. in April-May thereafter.
The concern has successfully developed 10 real estate projects and in public sector – water supply projects, bridge engineering for western railways, etc.
The concern’s registered office of area admeasuring approximately 850 sq.fts. is an owned premises, where furnishing and renovating is going on. The studio/design office is of area admeasuring approximately 800 sq.fts. and is also owned by the concern.
The concern employs 25 to 30 persons in its set-up.
ASSOCIATES
K Pioneer Builders {Building construction & Real Estate Development Business}
K Acme Builders
K Casad Consultancy
K Nishith Builders & Consultancy
K Dhara Exports
BANKERS
K State Bank of Saurashtra, Ayojan Nagar Branch, Paldi, Ahmedabad, Gujarat, INDIA
[The concern enjoys a credit limit to the tune of Rs.2.5 millions
from its banker, which can be extended to the limit of upto Rs.10 millions, if
required by the concern]
FINANCIAL INFORMATION
Not divulged
COMMENTS
Subject is a well-established family owned concern. Partners are reported as experienced, respectable and having satisfactory means of their own. Their trade relations are reported as fair. Payments are reported as slow but correct.
The concern can be considered normal for business dealings at usual trade terms and conditions.
Attachment 3
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SCORE SHEET |
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SCORE |
CREDIT RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the
strongest capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed
for credit transaction. It has above average (strong) capability for payment
of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded
healthy. General unfavourable factors will not cause fatal effect. Satisfactory
capability for payment of interest and principal sums |
Fairly
Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to
meet normal commitments. Maybe drawn to slightly difficult position as unfavourable
conditions arise. Minimal assurance for timely payment on interest and
principal sums |
Moderate |
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26-40 |
B |
Unfavourable & favourable factors carry similar
weight in credit consideration. Capability to overcome financial difficulties
seems comparatively limited or considered not known. Capability to pay both
interest and principal sums is doubtful |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and
principal sums in default or expected to be in default upon maturity |
Limited
with full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be
exercised |
Credit
not recommended |
Attachment 4
INDIA
INDIA, a Union of States, is a Sovereign Socialist Secular Democratic Republic with a Parliamentary System of government. It covers an area of 32872631 sq. km. Population, as on 1st March, 1991 (last counted) stood at 846.30 millions.
The value of total foreign trade increased to Rs.2,778,392.8 millions in 1997-98. During 1997-98, it’s total exports amounted to Rs.1,262,857.6 millions and imports increased to Rs.1,515,535.2 millions.
As on 20th April, 1999, Standard and Poor’s affirmed its ratings for India and said the country’s outlook was stable despite weak coalition governments. S&P affirmed its BB foreign currency and the BBB local currency ratings for India. The B foreign currency and A3 local currency short-term issuer credit ratings were also affirmed. The outlook is stable. Official foreign exchange reserves cover about 165 percent of total government, public sector and private sector external principal-repayment obligations due within the next 12 months. At $32.6 billion as on April 7, 1999, they mitigate the risk of a sudden loss of external confidence even as exports decelerate and the trade gap widens, the agency said.
LEADING EONOMIC INDICATORS
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Outstanding As On |
% Variation Over |
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Banking, M3 & Forex (Rs. mlns.) |
Feb. 26, 1999 |
End-March 1998 |
Financial Year So Far |
Year Ago |
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1997-98 |
1998-99 |
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Aggregate Deposits |
6,983,380 |
6,054,100 |
15.3 |
15.3 |
19.8 |
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Demand Deposits |
1,029,500 |
1,025,130 |
0.2 |
0.4 |
13.4 |
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Time Deposits |
5,953,880 |
5,028,970 |
18.7 |
18.4 |
20.9 |
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Investments |
2,519,660 |
2,187,050 |
12.3 |
15.2 |
17.7 |
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Government Securities |
2,203,170 |
1,869,570 |
14.2 |
17.8 |
21.4 |
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Other Approved Securities |
316,490 |
317,480 |
2.7 |
-0.3 |
-2.3 |
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Bank Credit |
3,547,420 |
3,240,790 |
12.4 |
9.5 |
13.3 |
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Food Credit |
167,320 |
124,850 |
62.4 |
34.0 |
35.6 |
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Non-food Credit |
3,380,110 |
3,115,940 |
11.0 |
8.5 |
12.4 |
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Money Supply M3 (Feb. 26, 1999) |
9,455,060 |
8,253,890 |
13.4 |
14.6 |
18.8 |
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Net Bank Credit to Government |
3,868,200 |
3,306,190 |
11.4 |
17.0 |
20.3 |
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Reserve Bank Credit to
Government |
1,543,690 |
1,351,600 |
5.1 |
14.2 |
18.3 |
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Bank Credit to Commercial
Sector |
4,651,290 |
4,321,900 |
11.8 |
7.6 |
10.6 |
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FOREX (US$ mln.) March 19, 1999 |
312,350 |
293,670 |
7.0 |
6.4 |
10.5 |
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Foreign Currency Assets |
282,560 |
259,750 |
11.1 |
8.8 |
13.7 |
FOREIGN INSTITUTIONAL INVESTMENT IN INDIA
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Financial Year |
Gross Purchases (Rs. mlns.) |
Gross Sales (Rs. mlns.) |
Net Investment (Rs. mlns.) |
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1992-93 |
175 |
40 |
135 |
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1993-94 |
55,927 |
4,665 |
51,262 |
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1994-95 |
76,310 |
28,354 |
47,966 |
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1995-96 |
96,930 |
27,520 |
69,420 |
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1996-97 |
155,540 |
69,804 |
85,746 |
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1997-98 |
186,948 |
127,373 |
59,577 |
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1998-99 |
161,150 |
176,993 |
-15,844 |
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Total |
732,980 |
434,749 |
298,262 |
FOREIGN EXCHANGE RATES
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Currency |
Unit |
Indian
Rupees |
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US Dollar |
1 |
Rs.43.28 |
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UK Pound |
1 |
Rs.70.35 |
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Euro |
1 |
Rs.43.47 |
Attachment 5
ACKNOWLEDGEMENT
Dear Sir/Madam,
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Company’s Stamp &
Signature