MIRA
INFORM REPORT
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Report Date : |
05.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
ZOOM DEVELOPERS PRIVATE LIMITED |
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Registered Office : |
12/2, R & T Marg, Chetak Centre, Indore, Madhya
Pradesh |
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Country : |
India. |
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Financials (as on) : |
30.09.2004 |
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Date of Incorporation : |
19.10.1991 |
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Com. Reg. No.: |
10-6729 |
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CIN No.: [Company
Identification No.] |
U7010MP1991PTC006729 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMZ01082E |
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PAN No.: [Permanent
Account No.] |
AAACZ0532D |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Engaged in heavy construction, cross-country pipelines lying,
cables lying and real estate leasing. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having satisfactory track. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are reported as fair. Payments are usually correct and as per commitments. However, the company can be considered normal for business dealings at usual trade terms and conditions. Input for this report was parted by Ms. Monica Gupte (Asst. Manager – Finance) of the Company. |
LOCATIONS
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Registered Office : |
12/2, R & T Marg, Chetak Centre, Indore, Madhya
Pradesh, India. |
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Tel. No.: |
91-22-28206782 / 6783 / 2787 |
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Mobile No.: |
91-22-28352744 |
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Fax No.: |
91-9323271175/ 9820216615 |
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E-Mail : |
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Website : |
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Area : |
Owned -- 5500 sq. ft. |
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Location : |
Commercial |
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Head Office : |
A-53, Road No. 1, MIDC Marol, Andheri (East), Mumbai – 400093, Maharashtra, India |
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Tel. No.: |
91-22-28206780/82/83 |
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Fax No.: |
91-22-28352744 |
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Corporate Office : |
Paragon House, A 53, Road No.1, M.I.D.C. Industrial Area, Andheri [East], Mumbai – 400093, Maharashtra |
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Overseas Office
: |
America Tel : 408 735 1700 Fax :408 735 1707 Europe Tel : 44 20 7170
4150 Fax : 44 20 7170
4154 Middle East / Africa P.O. Box 62157, Umm Suqeim Building, Showroom No.19,Dubai, UAE Fax : 9714 3388290 Asia Pacific 30 Cecil Street,#15-00,
Prudential Tower,Singapore – 049712 Tel : 65 62322751 Email :
Prakash@zoomdevelopers.com |
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Branches : |
D. C. Silk Mills Compound, Kondivitta, Andheri-Kurla Road, Andheri (East), Mumbai - 400 059, Maharashtra, India. |
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Tel. No.: |
91-22-8206782 / 6783 / 2787 |
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Fax No.: |
91-22-8352744 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Vijay Choudhary |
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Designation : |
Directors |
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Address : |
905/906 Indra Darshan, Bldg No.19, Near Millat Nagar, NewLink Road
Andheri(w), Mumbai-400 053 |
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Date of Birth/Age : |
3rd August 1958 |
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Date of Appointment : |
15th January, 1994 |
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Name : |
Mr. B.L. Kejriwal |
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Designation : |
Directors |
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Address : |
41/42, Parasrampuria Tower-2 Lokhandwala Com[plex,Andheri (west).
Mumbai-400053 |
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Date of Birth/Age : |
18th August, 1937 |
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Date of Appointment : |
1st April, 1994 |
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Name : |
Mr. K.P. Sengupta |
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Designation : |
Directors |
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Address : |
Audumbar 58/101, Basant vihar, Thane (West)-400601 |
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Date of Birth/Age : |
15th May, 1927 |
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Date of Appointment : |
1st April, 1994 |
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Name : |
Mr. Pradeep Saxena |
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Designation : |
Director |
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Address : |
2 Rajjab Mahal.144 M.K. Road, Mumbai 400 020 |
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Date of Birth/Age : |
3rd March, 1948 |
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Date of Appointment : |
19th, August, 2004 |
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Name : |
Mr. D.N Bakhai |
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Designation : |
Director |
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Address : |
80 A Parekh Mahal,Veer Nariman Road. Churchgate, Mumbai-400 020 |
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Date of Birth/Age : |
31st August, 1933 |
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Date of Appointment : |
19th August,2004 |
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Name : |
Mr. Yash Pal Sahani |
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Designation : |
Director |
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Address : |
603 Bldg No.1, Hiranandani Garden, Powai, Mumbai:400 076 |
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Date of Birth/Age : |
20th March, 1935 |
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Date of Appointment : |
19th August, 2004 |
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Name : |
Mr. Sharad Kabra |
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Designation : |
Company Secretrary |
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Address : |
Flat No.1401. Panchvati ,A Block, Behind S.M.Shetty School. Near
Hiranandani Gardens, Powai ,Mumbai 400 072 |
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Date of Birth/Age : |
20th October, 1961 |
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Date of Appointment : |
1st March,2004 |
KEY EXECUTIVES
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Name |
Mr. BehariLal
Kejriwal |
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Designation |
Chairman |
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Address |
41/42,
Parasrampuria Towers, No. 2, Millat Nagar, Lokhandwala Complex, Andheri
(West), Mumbai - 400 053, Maharashtra, India |
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Date of Birth |
18.08.1937 |
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Age |
67 Years |
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Qualification |
Post Graduate
Diploma in Management from UK |
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Date of Joining |
01/04/1994 |
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Experience |
37 Years |
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Profile |
Educated in UK
with over 40 Years experience in Infrastructure and Allied sectors. |
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Name |
Mr. Vijay M. Choudhary |
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Designation |
Director |
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Address |
Indradarshan Complex, Bldg No. 19, 905/906 Lokhandwala, Millat Nagar, Andheri (West), Mumbai, Maharashtra, India |
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Date of Birth |
03.05.1958 |
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Age |
46 years |
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Qualification |
Bachelor of Science |
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Experience |
22 Years |
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Date of Joining |
15/01/1994 |
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Profile |
With over 20 years of experience in Engineering Projects – He is the key driver to the growth of the organisation in its present shape. |
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Name |
Mr. K. P. Sengupta |
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Designation |
Professional Director |
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Address |
1B, Anand Dham 29/23, CIT Scheme, Kolkata, West Bengal, India |
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Date of Birth |
15.05.1927 |
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Age |
77 Years |
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Qualification |
Chartered Accountants & Cost Accountants |
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Experience |
52 Years |
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Date of Joining |
01/04/1994 |
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Profile |
Chartered Accountant by profession, he has Contributed a lot to the company |
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Name |
Mr. Dhirajlal. N. Bakhai |
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Address |
Parekh Mahal, 80,
Veer Nariman Road, Churchgate, Mumbai – 400020. |
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Date of Birth |
31.08.1933 |
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Age |
71 years |
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Qualification |
B. E., M. S.
(Ohio State) |
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Experience |
44 years |
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Profile |
F. I. With
experience of 40 years in Engineering and Polyester Field. |
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Name |
Mr. Pradeep J. Saxena |
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Address |
No. 2, Rajjab
Mahal, Ground Floor, 144, Maharshi Karve Road, Churchgate, Mu mbai – 400020. |
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Date of Birth |
03.03.1948 |
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Age |
56 years |
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Qualification |
M.B.A &
Advisor to the ITES Division |
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Experience |
30 years |
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Name |
Mr. Yashpal Sahni |
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Address |
603, Odyssey 1,
Hiranandani Gardens, Powai, Mumbai - 400076 |
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Date of Birth |
20.03.1935 |
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Age |
69 years |
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Qualification |
Master in Applied
Statistics |
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Experience |
40 years |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Mr. R. K. Gupta |
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100 |
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Mr. Yogendra Upadhyay |
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100 |
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M/s. Brilliant
Infrastructure Private Limited |
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778000 |
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M/s. Magnificent
Infrastructure Private Limited |
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776000 |
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M/s. Rajat
Infrastructure Private Limited |
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814800 |
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M/s. Sunstar
Infrastructure Private Limited |
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806000 |
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M/s. Magnificent
Hotels Private Limited |
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811900 |
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Total |
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3986900 |
BUSINESS DETAILS
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Line of Business : |
Engaged in heavy construction, cross-country pipelines
lying, cables lying and real estate leasing. |
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Exports : |
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Countries : |
Germany and UK |
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Imports : |
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Countries : |
Germany |
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Terms : |
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Selling : |
Contract (60 days) and L/C terms |
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Purchasing : |
Contract (30 / 60 days) and L/C terms |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Government Bodies
The Clientele list for Zoom's pipe lining works are as follows
Bangalore and
Ahmedabad
Gujarat
Baroda
Mumbai
Dharma,
Tumkur, Haveri & Bangalore
Hyderabad
Mumbai. |
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No. of Employees : |
Total: 150 |
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Bankers : |
United Bank of India Hotel Oberoi Tower Branch, Nariman Point, Mumbai – 400 021,
Maharashtra Credit Limit Facility – Rs. 573.200 millions Punjab National Bank 1st Floor,Raheja Chambers, Nariman Point, Mumbai - 400 001,
Maharashtra Credit Limit Facility – Rs. 516.800 millions Allahabad Bank Industrial Finance Branch, Churchgate, Mumbai – 400 020, Maharashtra Credit Limit Facility – Rs. 300.000 millions Punjab & Sind Bank International Banking Division, Nariman Point,Mumbai – 400 021,
Maharashtra Credit Limit Facility – Rs. 100.000 millions Oriental Bank of Commerce Stock Exchange Branch, Fort, Mumbai – 400 001, Maharashtra Credit Limit Facility – Rs. 100.000 millions The Karnataka Bank Limited 294/A, Haroon House, Opposite RBI,Fort, Mumbai – 400 001, Maharashtra Credit Limit Facility – Rs. 100.000 millions Andhra Bank 116, Saurabh, Andheri-Kurla Road, Andheri (East), Mumbai, Maharashtra Credit Limit Facility – Rs. 100.000 millions Bank of Baroda Corp. Financial Services Br., 3, Walchand
Hirachand Marg, Ballard Pier, Mumbai – 400001. Credit Limit Facility – Rs. 200.000 millions Bank of Bahrain & Kuwait B. S. C. Jolly Makers Chamber II, Nariman Point,Mumbai – 400 021, Maharashtra Credit Limit Facility – Rs. 50.000 millions Indian Bank Overseas Branch, Lawrence & Mayo
House, Fort, Mumbai – 400 001, Maharashtra Credit Limit Facility – Rs. 200.000 millions Corporation Bank Earnest House, Nariman Point, Mumbai – 400 021, Maharashtra Credit Limit Facility – Rs. 60.000 millions UCO Bank Mafatlal Centre, 1st Floor, Nariman Point, Mumbai – 400
021, Maharashtra Credit Limit Facility – Rs. 200.000 millions Union Bank of India Andheri East Branch, Andheri (East),Mumbai, Maharashtra Credit Limit Facility – Rs. 200.000 millions Central Bank of India Ground Floor, Chandramukhi, Nariman Point, Mumbai – 400021 Credit Limit Facility – Rs. 200.000 millions Vijaya Bank Industrial Finance Branch, New Excelsior Building, 2nd
Floor, Mumbai – 400001 State Bank of Hyderabad 116, Millat Towers, Nariman Point, Mumbai – 400021. Credit Limit Facility – Rs. 300.000 millions Canara Bank Dalamal Towers, ‘B’ Wing, 1st Floor, Nariman Point, Mumbai
– 400021. Credit Limit Facility – Rs. 200.000 millions Syndicate Bank 210/C, Vimal Apartment, C.D. Barfiwala Marg, Juhu, Andheri (W) Mumbai
- 400058. Credit Limit Facility – Rs. 200.000 millions The Jammu & Kashmir Bank Limited Jangid Complex, Mira Road (East), Thane, Maharashtra IndusInd Bank Limited Hoechst House, Nariman Point, Mumbai, Maharashtra |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Shailesh N. Thakkar & Company Chartered Accountants, 9, Geetanjali, Sri Ahobila Mutt Road, Chembur, Mumbai – 400071. |
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Address : |
91-22-25285339 |
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Associates/Subsidiaries : |
Brilliant Infrastructure Private Limited 12/2, RNT Marg, Chetak Centre, Indore – 452 001,Madhya Pradesh Line of Business : Builders, Developers and Engineering business
Magnificent Infrastructure Private Limited 12/2, RNT Marg, Chetak Centre, Indore – 452 001, Madhya Pradesh Line of Business : Builders, Developers and Engineering business
Rajat Infrastructure Private Limited 12/2, RNT Marg, Chetak Centre, Indore – 452 001, Madhya Pradesh Line of Business : Builders, Developers and Engineering business Sunstar Infrastructure Private Limited 12/2, RNT Marg, Chetak Centre, Indore – 452 001, Madhya Pradesh Line of Business : Builders, Developers and Engineering business Magnificent Hotels Private Limited 12/2, RNT Marg, Chetak Centre, Indore – 452 001, Madhya Pradesh Line of Business : Carry on the business of hotels, restaurants and cafes. Palghar Rolling Mills Limited Niagera Overseas Limited Asterix Informatics Limited Smart Card Software Development |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4000000 |
Equity Shares |
Rs.100 each |
Rs. 400.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3986900 |
Equity Shares |
Rs.100 each |
Rs. 398.690 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
30.09.2004 |
30.09.2003 |
30.09.2002 |
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SHAREHOLDERS
FUNDS |
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1] Share
Capital |
398.700 |
261.200 |
238.200 |
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2] Reserves
& Surplus |
1917.400 |
1420.400 |
1136.300 |
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3) Share
Application Money |
0.000 |
0.000 |
23.000 |
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NETWORTH |
2316.100 |
1681.600 |
1397.500 |
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LOAN FUNDS |
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1] Secured
Loans |
101.000 |
53.300 |
43.900 |
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2] Unsecured
Loans |
-- |
-- |
-- |
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TOTAL BORROWING |
101.000 |
53.300 |
43.900 |
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Deferred Tax
Liability |
39.400 |
40.900 |
-- |
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GRAND TOTAL |
2456.500 |
1775.800 |
1441.400 |
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APPLICATION OF
FUNDS |
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FIXED ASSETS
[Net Block] |
248.600 |
272.000 |
326.100 |
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Capital
work-in-progress |
136.700 |
27.000 |
5.100 |
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INVESTMENTS |
211.900 |
195.400 |
195.400 |
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CURRENT ASSETS,
LOANS & ADVANCES |
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Inventories |
1270.900 |
186.500 |
7.200 |
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Sundry Debtors |
410.500 |
341.500 |
232.600 |
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Cash & Bank
Balances |
20.800 |
25.500 |
2.300 |
|
Bank Deposit
(Margin Money) |
841.900 |
371.100 |
256.300 |
|
Loans &
Advances |
2492.000 |
1959.300 |
1427.400 |
|
Other Current
Assets |
0.000 |
35.300 |
21.700 |
|
Total Current Assets |
5036.100 |
2919.200 |
1947.500 |
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Less : |
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Current
Liabilities & Provisions |
3177.100 |
1638.300 |
1033.200 |
|
Total Current Liabilities |
3177.100 |
1638.300 |
1033.200 |
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Net Current Assets |
1859.000 |
1280.900 |
914.300 |
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MISCELLANEOUS
EXPENSES |
0.300 |
0.500 |
0.500 |
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GRAND TOTAL |
2456.500 |
1775.800 |
1441.400 |
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
30.09.2004 |
30.09.2003 |
30.09.2002 |
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Sales Turnover
[including other income] |
2595.300 |
1774.600 |
1269.100 |
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Profit/(Loss)
Before Tax |
537.700 |
351.300 |
214.200 |
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Provision for
Taxation |
40.600 |
23.500 |
10.400 |
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Profit/(Loss)
After Tax |
497.100 |
327.800 |
203.800 |
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Total
Expenditure |
390.200 |
227.400 |
180.500 |
KEY
RATIOS
|
PARTICULARS |
|
30.09.2004 |
30.09.2003 |
30.09.2002 |
|
PAT / Total
Income |
(%) |
19.153 |
18.471 |
16.058 |
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Net Profit
Margin (PBT/Sales) |
(%) |
20.718 |
19.796 |
16.878 |
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Return on Total
Assets (PBT/Total Assets} |
(%) |
9.545 |
10.291 |
8.657 |
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Return on Investment
(ROI) (PBT/Networth) |
|
0.232 |
0.208 |
0.153 |
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Debt Equity
Ratio (Total Liability/Networth) |
|
1.415 |
1.008 |
0.770 |
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Current Ratio (Current Asset/Current Liability) |
|
1.585 |
1.781 |
1.884 |
LOCAL AGENCY
FURTHER INFORMATION
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Name of the company |
M/s. Zoom
Developers Private Limited |
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Presented By |
Mr. B.L Kejriwal
Director |
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1) Date and description of instrument creating the change |
05.11.2004 Equitable Mortgage by Deposit of Title Deeds |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 3007.500 Millions |
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3) Short particular of the property charged. If the property acquired
is subject to charge, date of the acquired of the property should be given |
Equitable mortgage of property situated at Village Parli, Taluka
Sudhagad District Raigad, Survey No. 4, admeasuring 9930 sq.meters, acquired
on 29.09.04 at a cost of Rs. 0.299 Million |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
The charge is created as collateral security for the facility
sanctioned to M/s. Zoom developers (P) Limited. |
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5) Name and Address and description of the person entitled to the
charge. |
United Bank of India Hotel Oberoi Towers Branch Nariman Point Mumbai -400 021 |
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6) Date and brief description
of instrument modifying the charge |
24.11.05 modification of equitable mortgage by deposit of title deeds
to additionally secure to following Letter of Guarantee Facility, and so
reduction in the facility within the overall limit of Rs.5743.200 Millions 1.
Union Bank of India, Andheri Branch, vide their sanction letter dated
08.10.2005 has sanctioned additional bank guarantee facility of Rs. 100.000
Millions. 2.
Vijaya Bank, vide their sanction letter dated 18.10.2005 has
sanctioned additional bank guarantee facility of Rs. 100.000 Millions, out of
which limit of Rs, 100.000 Millions has been utilised. The aforesaid limit of Rs. 100.00 Millions and Rs. 10.000 Millions
respectively will be utilized by reducing the limit of Bank of Baroda as
under: The revised sharing pattern will be with the overall existing limit of
Rs. 574.320 Millions |
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|
7) Particulars of modifications specifying the terms and conditions or
the extent of operations of the charge in which modification is made and the
details of the modification. |
The Charge will secure a total sum of Rs. 574.320 Millions for the
facilities sanctioned to Zoom Developers (P) Limited. By the following banks
and shall rank pari pasu amongst all the banks
|
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.50 |
|
UK Pound |
1 |
Rs.85.86 |
|
Euro |
1 |
Rs.58.39 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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 and their relative weights (as indicated through
%) are as follows:
Financial condition
(40%) Ownership background
(20%) Payment record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|