MIRA
INFORM REPORT
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Report Date : |
19.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
BHARTI INFRASTRUCTURE PRIVATE LIMITED |
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Registered Office : |
Plot No.28, Hemlata Apartments, Deen Dayal Nagar, Nagpur – 440022,
Maharashtra, India |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
01.03.2006 |
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Com. Reg. No.: |
160155 |
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CIN No.: [Company
Identification No.] |
U45200MH2006PTC160155 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
NGPB02446D |
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PAN No.: [Permanent
Account No.] |
AAPPB4001N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
To carry on the business real estate developers and sellers,
constructing bulging and selling lands, buildings and flats on cash or otherwise
and to carry on the business of builders, engineers, contractors, scheme,
roads, highways, docks, bridges, canals, wells springs, dams power plant,
water, gas, electric, light, telephone, telegraphic and power supply works
and any other structural or architectural work of any kind. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 1116 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Director of the company declined business and financial details.
Hence, this report is based on indirect sourced of information. No payment
are available. Scale activity appears as small. The company can be considered for small to mediocre business dealings
on safe and secured trade terms and conditions, initially. |
LOCATIONS
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Registered Office : |
Plot No.28, Hemlata Apartments, Deen Dayal Nagar, Nagpur – 440022,
Maharashtra, India |
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E-Mail : |
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Corporate Office : |
171, Chaitanya Apartment, Bhausaheb Surve Nagar, Jaitala Road, Nagpur
– 440022, India |
DIRECTORS
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Name : |
Mr. Sujit Kumar Bharti |
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Designation : |
Director |
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Address : |
Plot No.28, Hemlata Apartments, Deen Dayal Nagar, Nagpur – 440022,
Maharashtra, India |
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Name : |
Mrs. Nilam Bharti |
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Designation : |
Director |
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Address : |
Plot No.28, Hemlata Apartments, Deen Dayal Nagar, Nagpur – 440022,
Maharashtra, India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Mr. Sujit Kumar Bharti |
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5100 |
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Mrs. Nilam Bharti |
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4900 |
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Total |
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10000 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
To carry on the business real estate developers and sellers,
constructing bulging and selling lands, buildings and flats on cash or
otherwise and to carry on the business of builders, engineers, contractors,
scheme, roads, highways, docks, bridges, canals, wells springs, dams power
plant, water, gas, electric, light, telephone, telegraphic and power supply
works and any other structural or architectural work of any kind. |
GENERAL
INFORMATION
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Bankers : |
· Central Bank of
India Abhyankar Nagar Branch, Abhyankarnagar, Nagpur – 440010, Maharashtra,
India |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
V Y Sagdeo and Company Chartered Accountant |
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Address : |
Prabha Niwas, Wardha Road, Rahate Colony, Nagpur – 440022,
Maharashtra, India |
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Financial Institute : |
· L and T Finance
Limited L and T House, Ballard Estate, Mumbai – 400001, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.179 |
0.078 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.279 |
0.178 |
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LOAN FUNDS |
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1] Secured Loans |
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4.090 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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4.090 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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4.369 |
0.178 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4.551 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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2.574 |
1.419 |
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Cash & Bank Balances |
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0.041 |
0.029 |
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Other Current Assets |
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0.412 |
0.015 |
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Loans & Advances |
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0.000 |
0.000 |
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Total
Current Assets |
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3.027 |
1.463 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.181 |
1.257 |
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Provisions |
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0.039 |
0.040 |
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Total
Current Liabilities |
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3.220 |
1.297 |
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Net Current Assets |
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(0.193) |
0.166 |
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MISCELLANEOUS EXPENSES |
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0.011 |
0.012 |
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TOTAL |
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4.369 |
0.178 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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26.20 |
7.29 |
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Current Ratio (Current Asset/Current Liability) |
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0.94 |
1.8 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Corporate identity
number (CIN) Foreign company registration number |
U45200MH2006PTC160155 |
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Name of the
Company |
BHARTI INFRASTRUCTURE PRIVATE LIMITED |
|
Address |
Plot No.28, Hemlata Apartments, Deen Dayal Nagar, Nagpur – 440022,
Maharashtra, India |
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This form is for |
Creation of charge |
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Type of Charge |
·
Immovable
Property ·
Any
Interests in Immovable Property ·
Book Debts ·
Movable
Propriety (not being pledge) ·
Floating
Charge |
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Particulars of
the charge holder |
· Central Bank of
India Abhyankar Nagar Branch, Abhyankarnagar, Nagpur – 440010, Maharashtra,
India |
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Nature or
description of the instrument(s) creating or modifying the charge |
Equitable
mortgage by deposit of title deeds of plots – no instrument Overdraft
agreement dated 07.02.2008 Declaration and
undertaking Dated 07.02.2008 Letter of
Continuity Dated Nil |
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Date of the
instrument creating or modifying the charge |
07.02.2005 |
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Amount secured by
the charge |
Rs.1.700 Millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of
Interests: BPLR minus 1%
p.a. with monthly rests Minimum 12% p.a.
with monthly rests Additional
Interests of 2% p.a. if the conditions of para 6A of the overdraft are not
complied with by the company. Terms of
repayments: On Demand Margin: None Extent and
Operation of the charge: Central Bank of India
has the first and floating charge on the properties mentioned at para 14 of
this from Others: Guarantor Shri
Sudhanshu Shekar having a net worth of Rs.9.870 Millions The facility is
under a nature of overdraft and is granted under centrade scheme of the bank
and accordingly all the terms and conditions of the said scheme of the bank
are applicable to the said advance. |
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Short particulars
of the property charged (including location of the property) |
All that piece
and parcel of land bearing plot no. 44 and 45 adm. 278.53 sq. mtrs. Khaeara
No.44 in Mouza Menewada PH No.39 –A in the Larokar Layout, together with the
structure thereon bearing corporation house no.6579/A/44 and 45 ward No.14
City survey no.569, Sheet No.22 within the limit of nagpur municipal
corporation and NIT and bounded as under: Towards North: Plot No.45-A;
Towards South: Plot No.43; Towards East: 9 Meters wide road and Towards West:
Plot No.32 and 33 Valued at Rs.4.500 Millions |
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Particular of the
present modification |
NA |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.64 |
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UK Pound |
1 |
Rs.83.00 |
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Euro |
1 |
Rs.66.00 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
- |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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20 |
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
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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. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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