MIRA
INFORM REPORT
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Report Date : |
03.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
TULJABHAWANI COLD STORAGE PRIVATE LIMITED |
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Registered Office : |
“Krishna”, Plot No. 56, Avdhooth Nagar, Baramati, Pune – 413102,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
30.06.2003 |
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Com. Reg. No.: |
25-18082 |
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CIN No.: [Company
Identification No.] |
U63022PN2003PTC018082 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNET05259C |
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PAN No.: [Permanent
Account No.] |
AABCT8773H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Cold Storage Plant |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Project |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clears |
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Comments : |
Subject is a new project and recently commenced commercial operations.
Directors are reported as experienced, respectable and having satisfactory
means of their own. Trade relations are fair. No complaints have been heard
from t he market sources. It would advisable to take adequate securities while dealing with the
subject. No clear credit can be granted. |
LOCATIONS
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Registered Office : |
“Krishna”, Plot No. 56, Avdhooth Nagar, Baramati, Pune – 413102,
Maharashtra, India |
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Tel. No.: |
91-2112-223996 |
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E-Mail : |
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Website : |
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Area : |
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Administrative Office /
Factory : |
D – 19, M.I.D.C., Baramati [Pune] – 413133 |
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Tel. No.: |
91-2112-244251 / 244223 |
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Area : |
Lease Agreement |
DIRECTORS
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Name : |
Mr. Dhananjay Krishnanth Gaikwad |
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Designation : |
Director |
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Address : |
“Krishna”, Plot No. 56, Avdhooth Nagar, Baramati, Pune – 413102,
Maharashtra, India |
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Date of Birth/Age : |
37 Years |
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Qualification : |
B.E. [Elect] |
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Experience : |
7 Years |
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Name : |
Ms. Anita Krishnanath Gaikwad |
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Designation : |
Director |
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Address : |
“Krishna”, Plot No. 56, Avdhooth Nagar, Baramati, Pune – 413102,
Maharashtra, India |
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Date of Birth/Age : |
39 Years |
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Qualification : |
B.Sc. [Bot] |
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Experience : |
3 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Cold Storage Plant |
PRODUCTION STATUS
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Cold Storage Plant |
MT |
3600 |
3600 |
3600 |
In Expansion capacity is 6000 M.T. Expanded Total Capacity 9600
M.T.
GENERAL
INFORMATION
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Customers : |
Pepsico India Holding Company Limited : Mr. Brijesh Pundey, General
Manager |
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No. of Employees : |
11 [In Office : 2 and In Factory : 9] |
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Bankers : |
Bank of Maharashtra |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Khandelwal Gandhi and Associates Chartered Accountants 131 – B, Somwar Ganraj Lodge, Pune – 411011 Vakharia S. K. and Associates Chartered Accountants 28, 2nd Floor, Santosh Heights, Opposite Apsara Cinema,
Near Hotel 7 Loves Chowk, Pune – 411037 |
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Associates : |
Tuljabhawani Cold Storage |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.200
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.200 |
0.200 |
0.100 |
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2] Share Application Money |
2.820 |
0.965 |
0.665 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.020 |
1.165 |
0.765 |
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LOAN FUNDS |
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1] Secured Loans |
22.407 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
22.407 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
25.427 |
1.165 |
0.765 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.849 |
0.855 |
0.000 |
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Capital work-in-progress |
17.094 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000 |
0.000 |
0.000 |
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Sundry Debtors |
0.000 |
0.000 |
0.000 |
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Cash & Bank Balances |
0.112 |
0.240 |
0.028 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
7.319 |
0.007 |
0.685 |
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Total
Current Assets |
7.431
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0.247 |
0.713 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.000 |
0.000 |
0.000 |
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Provisions |
0.010 |
0.000 |
0.000 |
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Total
Current Liabilities |
0.010 |
0.000 |
0.000 |
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Net Current Assets |
7.421 |
0.247 |
0.713 |
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MISCELLANEOUS EXPENSES |
0.063 |
0.063 |
0.052 |
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TOTAL |
25.427 |
1.165 |
0.765 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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7.42
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0.00 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
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743.10
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0.00 |
0.00 |
PROFIT & LOSS
ACCOUNT
[01.04.2007 to
31.03.2008]
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PARTICULARS |
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31.03.2008 |
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Indirect Income |
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6.560 |
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Net Profit |
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0.230 |
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Expenditures : |
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Accounting Salary |
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0.024 |
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Advertisement Expenses |
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0.054 |
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Bank Charges |
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0.036 |
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Bank Interest |
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4.008 |
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Hamali |
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0.106 |
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Insurance |
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0.102 |
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Light Bill Expenses |
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1.267 |
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Oil Diesel Gas Expenses |
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0.110 |
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Process Fee |
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0.061 |
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Salary A/c |
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0.383 |
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Telephone Charges |
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0.013 |
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Travelling Expenses |
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0.040 |
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Water Charges |
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0.127 |
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Total Expenditure |
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6.331 |
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LOCAL AGENCY
FURTHER INFORMATION
Note :
Since the company has not yet commenced the business and company is in
process of setting up its cold storage plant, no fixed asset is come in to
existence.
Details of Fixed
Assets
- Plant and
Machinery
- Land and
Building [8399 sq.m. Land 2400 sq.m. Building]
Personal Assets of
the Properties / Partners / Directors
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Description of
the Assets owned by them |
Amount [Rs in
Millions] |
Whether offered
as Security |
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Bunglow at Baramati |
Rs. 3.700 Millions |
Collateral |
Insurance Details
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Unit’s Assets
covered |
Validity |
Sum Assured |
Risk covered |
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United India Insurance type up with B.O.M. |
Sept 09 |
Rs. 40.000 Millions |
Plant and Machinery break down and Building |
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FINANCIAL ANALYSIS
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Last available
financial statement |
Yes 31.03.2008 |
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Recent summary
financial |
Yes 30.09.2008 |
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Stock Position
[at last month end] |
Storage utilization 5 % |
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Any other
material development |
Expansion work it in progress |
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Whether the
critical ratios conforms to the bench mark stipulation |
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Other business
Interest of the Promoters : Expansion of cold storage plant @ 6000 M.T.
capacity
Review of Bank
Statement for the last six months
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Number of Credit
/ Debits, month – wise |
Creditors 9, Debtors 6 |
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Cheque bounces |
No |
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Evidence of
servicing existing debt obligations |
-- |
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Line Utilisation
– any evidence of perennial overdrawing
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No |
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Evidence of
statutory dues being paid on time |
Yes |
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PF and employee
related |
No |
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Municipal and
Corporation Taxes |
No |
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Last utility
payment made [electricity] |
Rs. 0.133 Million |
ACTIVITY LEVELS AT
THE TIME OF VISIT
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Number of Employees
observed |
8 |
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Level of
Activity [Description of production / delivery / customers] |
Cold Storage |
MANUFACTURING
ENTITIES / FACTORY SITE [S]
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Principal raw
materials and sources |
Ammonia which is easily available |
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Manufacturing
process |
Cold storage plant |
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Major branded
and imported machines, installed |
Kirloskar make all machinery Air cooling unit of structure |
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Pollution
Control : Any pollutants being generated and their disposal |
No |
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Power :
Connected load and back up availability |
300 H P local sanction 350 H P generator Bank OD |
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Inventory / WIP
/ Finished Goods at the Site |
No |
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Storage /
Securities / perishability / Susceptibility to fire and weather |
Private security N.O.G. from fire availed |
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Quality
Certification |
-- |
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Workers / Split
of temporary and permanent and any unions |
No Onions |
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History of any
strikes / any child labour working conditions |
No |
Application form for credit facilities of over Rs. 5.000 Million and
upto Rs. 20.000 Millions
How the activity was financed so far
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Source of Funds |
Security |
Rate of Interest |
Repayment per Month |
Present Out Standing |
Amount of Default |
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Rs. 25.000 Millions |
Hypothecation of cold storage plant and
Machinery with collateral security of Bunglow and one external guarantor |
12 % |
@ Rs. 0.460 Million |
- Nil - |
- Nil - |
Past Performance to be filed up by existing unit only
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Particulars |
Last year |
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Turnover |
Rs. 6.000 Millions |
Income Tax : 100 % subsidies under 80 Ib Rule
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Employment |
Present |
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Executives |
1 |
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Supervisory |
3 |
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Administrative / Office Staff |
1 |
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Skilled Labour |
4 |
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Unskilled Labour |
- |
Technical
Feasibility
As this is the only cold storage in from it at District places. So it is
a prime one.
No. of working days in a month : 30 days
No. of shifts in a day : 3 shift
Locational advantages f existing and / or proposed premises with
reference to : As there is Schriter Dynamic Dairy as a Big Dairy plant and Imsofer
Manufacturing India Private Limited chockolate company it is more
advantageous.
Availability of
Water : 24 Hours
Labour : Easily Available
Transport : Easily available local transport
Land and Building :
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Existing |
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Area |
Value [Rs in Millions] |
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Factory Land |
8399 sq. m. |
0.840 |
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Factory Building |
2496.10 sqm |
46.660 |
Details of bill received from April – 08 to July – 08
Rs in Millions
|
Name of company |
April - 08 |
May - 08 |
June - 08 |
July – 08 |
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Tropicana |
0.521 |
0.513 |
0.457 |
0.467 |
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Warana |
0.226 |
0.239 |
0.225 |
0.237 |
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Imsofer |
0.102 |
0.123 |
0.107 |
0.119 |
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Dynamix |
0.097 |
0.103 |
0.097 |
0.128 |
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Tunip |
0.067 |
0.070 |
0.080 |
0.060 |
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Total |
1.013 |
1.048 |
0.966 |
1.011 |
Details of Expenses done from April – 08 to July – 08 :
Rs in Millions
|
Type of Expenses |
April - 08 |
May - 08 |
June - 08 |
July – 08 |
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M S E B |
0.129 |
0.133 |
0.135 |
0.123 |
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Water Bill |
0.006 |
0.007 |
0.005 |
0.007 |
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Phone Bill |
0.002 |
0.003 |
0.003 |
0.003 |
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Salary |
0.027 |
0.030 |
0.027 |
0.029 |
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Plant Maintenance and Office Expenses |
0.047 |
0.050 |
0.050 |
0.055 |
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Total |
0.211 |
0.223 |
0.220 |
0.217 |
List of Plant and Machinery
|
Sr. No. |
No of Units |
Date of Purchase |
Item Purchased |
From whom purchased |
Purchase value in Rs. [Millions] |
Market value in Rs. [Millions] |
Whether new or secondhand |
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1 |
3 |
2007 |
Compressors |
Parag Marketing |
1.587 |
1.587 |
New |
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2 |
1 |
2007 |
Evaporating condensers |
Refcon engineering |
0.638 |
0.638 |
New |
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3 |
4 |
2007 |
Air cooling units |
Star coolers |
2.180 |
2.180 |
New |
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4 |
3 |
2007 |
Electric motors |
Siemens |
0.217 |
0.217 |
New |
|
5 |
2 |
2007 |
Receiver tank |
Uma Industries |
0.180 |
0.180 |
New |
|
6 |
2 |
2007 |
Inter coolers |
Uma Industries |
0.130 |
0.130 |
New |
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7 |
-- |
2007 |
Simples pipes |
Mahalaxmi |
0.435 |
0.435 |
New |
|
8 |
4 |
2007 |
Ducting |
Vidyut Controls |
0.155 |
0.155 |
New |
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9 |
3 |
2007 |
Electrical control panels |
|
0.593 |
0.593 |
New |
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6.115 |
6.115 |
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Indicate sources form which expenditure already incurred has been
financed :
Bank of Maharashtra
Term Loan : Rs.
25.000 Millions
Unsecured Loan from Directors and Relatives Rs. 22.500 Millions
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Total Rs.
47.500 Millions
Financial Assistance Required : Term Loan
Term Loan Rs. 30.000 Millions
Details of securities to be offered : 7 Years collateral security
Bunglow and one external guarantors.
Primary For
Term Loan
Collateral, if any Bunglow
in Avadhoot
Nagar
Details of guarantor [s]
Name C.
K. Gaikwad / L N Tatiya
Residential Address Baramati
Occupation Business
Details of any similar guarantee if any, given to other institutions : Bangalore in Baramati
DETAILS OF
EXISTING FIXED ASSETS
|
Land |
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Location |
D 19, M I D C Baramati |
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Area |
8399 sq. m. |
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Whether Freehold
or Leasehold |
Lease Hold |
|
Purchase Price
of Land, if owned |
-- |
|
Rent in case of
leased land |
Deposit – Rs.
0.839 Million |
|
Terms of lease |
99 years lease |
|
Ground Rent
Payable per year |
-- |
|
BUILDING |
|
|
Location |
D – 19, M. I. D.
C., Baramati Owned |
Terms of Lease
|
Structure |
Type of Structure |
Dimensions |
Area [In sq. m.] |
Actual cost Rs. In Millions |
Date of Erection |
|
Workshop |
-- |
-- |
-- |
-- |
-- |
|
Godown |
R.C.C. |
80 m X 30 m |
2400.00 |
Rs. 18.000 Millions |
2007 |
|
Administrative |
R.C.C. |
13.72 m X 7 m |
96.10 |
Rs. 3.000
Millions |
2008 |
|
Other Buildings |
Particulars of Building proposed to be constructed.
|
Description of each building |
Type of construction |
Length |
Breadth |
Average Height |
Total Floor in Sq. M. |
Rate of Construction per sq. M. |
Estimated Cost of each Building |
Expected Date of completion |
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Cold Rooms |
R.C.C. |
20 X 3 |
37 X 3 |
3.5 X 3 |
2220 |
Construction
cost is Rs. 21.000 Millions |
Building is
Completed |
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Office Premises |
R.C.C. |
38 |
7 |
2.8 |
266 |
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Loading premises |
R.C.C. |
44 |
7 |
4.5 |
308 |
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STATEMENT OF ASSETS AND
LIABILITIES
1. Mr. Gaikwad Dhananjay Krishnanath
Occupation : Business
Annual Income : Rs. 0.500 Million
Details of Assets Owned
Investment in Business Capital
|
Name of the Company / Firm / concern in which investment is made |
Amount invested [Rs in Millions ] |
|
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|
Tuljabhawani Cold Storage Private Limited |
6.000 |
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Immovable Properties
|
Name of the owner |
Description of property |
Location / Address of property
|
Extent of land |
|
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Dhananjay K Gaikwad Charulal K Gaikwad |
Business |
“Krishna”, Plot No. 56, Avdhooth Nagar, Baramati, Pune – 413102,
Maharashtra, India |
2400 sq. ft. |
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Extent of building area constructed |
Type of Property |
Details of Documents conferring right |
Date of Purchases of Property |
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2400 sq ft |
Residential Bunglow |
7/12 Extract |
1996 |
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Original purchase Cost [Rs in Millions] |
Present market value as on 30.06.2008 |
Details of encumbrances, if any on the property |
|
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|
1.300 |
3.750 |
Bank of Maharashtra, Baramati Collateral
Security for Term Loan of Tuljabhawani Cold Storage Private Limited |
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Other Assets
|
Nature / Details of assets |
Market value of assets as on 30.06.2007 [Rs in Millions] |
Details of encumbrance, if any |
|
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|
|
|
Mahindra Scorpio |
Rs. 0.800 Million |
Bank of Maharashtra |
|
|
|
|
Total Assets : Rs. 10.550 Millions
Liabilities
Credit Limits / Facilities with Financial Institutions and Banks
|
Name of the Institution / Bank |
Details of nature and extent of credit limits / facilities enjoyed |
Details of securities furnished |
|
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|
Nature of credit facility |
Extent [Rs in Millions] |
|
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|
Bank of Maharashtra |
Term Loan |
25.000 |
Plant and Machinery as prime security and
Bunglow from Avadhoot Nagar,as collateral secureity |
|
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|
Total Liabilities : Rs. 25.000 Millions
Net Worth Rs. 14.450 Millions
Details of Existing Guarantee Obligations :
|
Name of the Principal debtors on whose behalf guarantee is furnished |
Extent to which guarantee is furnished [Rs in Millions] |
Name of the Creditor |
|
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|
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|
Tuljabhawani Cold Storage Private Limited |
25.000 |
Bank of Maharashtra |
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|
2. Ms. Anita Krishnanath Gaikwad
Occupation : Business
Annual Income [Rs in Millions] :
Rs. 0.200 Million
Details of Assets Owned
Investment in Business Capital
|
Name of the Company / Firm / concern in which investment is made |
Amount invested [Rs in Millions ] |
|
|
|
|
Tuljabhawani Cold Storage Private Limited |
1.500 |
|
|
|
Others Assets
|
Nature / Details of Assets |
Market value of assets as on |
|
|
|
|
T. V. S. Scootey |
0.030 |
|
|
|
Total Assets : Rs. 1.530 Millions
Liabilities
Credit Limits / Facilities with Financial Institutions and Banks
|
Name of the Institution / Bank |
Details of nature and extent of credit limits / facilities enjoyed |
Details of securities furnished |
|
|
|
Nature of credit facility |
Extent [Rs in Millions] |
|
|
|
|
|
|
|
Bank of Maharashtra |
Term Loan |
25.000 |
Plant and Machinery as prime security and
Bunglow from Avadhoot Nagar,as collateral secureity |
|
|
|
|
|
Total Liabilities : Rs. 25.000 Millions
Net Worth Rs. 23.470 Millions
Details of Existing Guarantee Obligations :
|
Name of the Principal debtors on whose behalf guarantee is furnished |
Extent to which guarantee is furnished [Rs in Millions] |
Name of the Creditor |
|
|
|
|
|
Tuljabhawani Cold Storage Private Limited |
25.000 |
Bank of Maharashtra |
|
|
|
|
3. Charulata krishnanath Gaikwad
Annual Income : Rs. 0.100 Million
Details of Assets Owned
Investment in Business Capital
|
Name of the Company / Firm / concern in which investment is made |
Amount invested [Rs in Millions ] |
|
|
|
|
Tuljabhawani Cold Storage Private Limited |
0.050 |
|
|
|
Immovable Properties
|
Name of the owner |
Description of property |
Location / Address of property
|
Extent of land |
|
|
|
|
|
|
Charulal K Gaikwad Dhananjay K Gaikwad |
Business |
Avadhoot Nagar, Baramati, Pune – 413102, Maharashtra, India |
2400 sq. ft. |
|
|
|
|
|
|
Extent of building area constructed |
Type of Property |
Details of Documents conferring right |
Date of Purchases of Property |
|
|
|
|
|
|
2400 sq ft |
Residential Bunglow |
7/12 Extract 50 % of share |
1996 |
|
|
|
|
|
|
Original purchase Cost [Rs in Millions] |
Present market value as on 30.06.2008 |
Details of encumbrances, if any on the property |
|
|
|
|
|
1.300 |
3.750 50 % of share Rs. 1.875 Millions |
Bank of Maharashtra, Baramati Collateral
Security for Term Loan of Tuljabhawani Cold Storage Private Limited of Rs.
25.000 Millions |
Total Assets : Rs. 1.925 Millions
Net Worth : Rs. 1.925 Millions
|
Name of the principal debtors on whose behalf guarantee is furnished |
Extent to which guarantee is furnished |
Nature of the creditors |
|
|
|
|
|
Tuljabhawani Cold Storage Private Limited |
Rs. 25.000 Millions |
Bank of Maharashtra |
|
|
|
|
4. Mr. Lalit Nandlal Tutiya
Occupation : Business
Annual Income Rs. 0.300 Million
Immovable Properties
|
Name of the owner |
Description of property |
Location / Address of property
|
Extent of land |
|
|
|
|
|
|
Lalit Nandlal Tatiy Bunglow in Ashok Nagar |
Bunglow |
Ashok Nagar Baramati |
2000 sq. ft. |
|
Lalit Nandlal Tatiy Ajit Tatiy Agri Land in Baramati |
Agri Land |
Agriland Near Baramati |
5 Acre |
|
Extent of building area constructed |
Type of Property |
Details of Documents conferring right |
Date of Purchases of Property |
|
|
|
|
|
|
1800 sq ft |
Residential Bunglow |
7/12 Extract |
2007 |
|
|
|
|
|
|
-- |
Agriculture |
7/12 Extract |
1980 |
|
Original purchase Cost [Rs in Millions] |
Present market value as on 30.06.2008 |
Details of encumbrances, if any on the property |
|
|
|
|
|
Rs. 1.200 Millions |
Rs. 5.800 Millions |
- No - |
|
|
|
|
|
Rs. 0.030 Million |
Rs. 75.000 Millions |
- No - |
Total Assets : Rs. 80.800 Millions
Net Worth : Rs. 80.800 Millions
|
Name of the principal debtors on whose behalf guarantee is furnished |
Extent to which guarantee is furnished |
Nature of the creditors |
|
|
|
|
|
Tuljabhawani Cold Storage Private Limited |
Rs. 25.000 Millions |
Bank of Maharashtra |
|
|
|
|
HIGH LIGHTS OF PROJECT
|
Name of Project Status |
TULJABHAWANI COLD STORAGE PRIVATE LIMITED |
||||||||||||||||||||||
|
Status |
Private Limited Company |
||||||||||||||||||||||
|
Factory Site Address |
D – 19, M.I.D.C., Baramati [Pune] – 413133 |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Cost of Project |
Fixed Assets |
||||||||||||||||||||||
|
As per present valuation report |
Rs. 47.500 Millions |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Means of Finance : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Repayment Schedule |
In Seven Years monthly installments from September 2008 as per nabard
provided rules |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Security |
Term Loan against Hypothecation of Land,
Building, Plant and machinery, electrical installation, Building and Cash
Credit against the Pledge of Stock and Debtors. In addition to Bunglow
located at Awdhootnagar, Baramati and one Outside Guarantor as collateral
security. |
||||||||||||||||||||||
|
Rate of Interest – Term Loan |
12 % as per bank rules |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Total Repayment |
|
Fixed Assets
- Chilling Plant Building
- Land and Deposit
- Insulation
- Plant and Machinery
STATEMENT OF
PROJECTED PROFITABILITY PROJECTIONS FOR SIXTH YEARS
Rs in Millions
|
Head of the Account |
First Year |
Second Year |
Third Year |
Forth Year |
Fifth Year |
Sixth Year |
|
Year |
March 2009 |
March 2010 |
March 2011 |
March 2012 |
March 2013 |
March 2014 |
|
|
|
|
|
|
|
|
|
|
Projected |
|||||
|
|
|
|
|
|
|
|
|
|
90.00 |
90.00 |
95.00 |
95.00 |
100.00 |
100.00 |
|
|
|
|
|
|
|
|
|
Avg % Capacity utilized per annum |
0.003 |
0.003 |
0.003 |
0.003 |
0.003 |
0.003 |
|
Expected Rate per Ton / year |
0.006 |
0.006 |
0.006 |
0.006 |
0.006 |
0.006 |
|
A. Receipts : Rent Receipts |
14.850 |
14.850 |
15.960 |
15.960 |
17.400 |
18.000 |
|
|
|
|
|
|
|
|
|
Total |
14.850 |
14.850 |
15.960 |
15.960 |
17.400 |
18.000 |
|
|
|
|
|
|
|
|
|
B. Direct Costs : |
|
|
|
|
|
|
|
MSEB Charges |
1.500 |
1.575 |
1.654 |
1.819 |
2.001 |
2.201 |
|
Labour Charges |
0.720 |
0.792 |
0.871 |
0.958 |
1.054 |
1.160 |
|
Amonia Expenses |
0.053 |
0.066 |
0.082 |
0.103 |
0.128 |
0.160 |
|
Diesel and Oil |
0.180 |
0.198 |
0.218 |
0.240 |
0.264 |
0.290 |
|
Machine Maintenance |
0.180 |
0.198 |
0.218 |
0.240 |
0.264 |
0.290 |
|
Sub – Total |
2.633 |
2.829 |
3.043 |
3.359 |
3.710 |
4.101 |
|
Surplus / G. P. b/d [A-B] |
12.218 |
12.021 |
12.917 |
12.600 |
13.690 |
13.899 |
|
D. Gen Administration Expenses |
|
|
|
|
|
|
|
1. Administration Expenses |
0.270 |
0.284 |
0.298 |
0.313 |
0.328 |
0.345 |
|
Total |
0.270 |
0.284 |
0.298 |
0.313 |
0.328 |
0.345 |
|
E. Surplus before interest and Depreciation |
11.948 |
11.738 |
12.620 |
12.288 |
13.361 |
13.555 |
|
F. Depreciation |
4.750 |
4.275 |
3.848 |
3.463 |
3.116 |
2.805 |
|
G. Preliminery Expenses W/off |
-- |
-- |
-- |
-- |
-- |
-- |
|
H. Interest on TL |
2.604 |
3.144 |
2.740 |
2.284 |
1.771 |
1.193 |
|
I. Interest on CC |
-- |
0 |
0 |
0 |
0 |
0 |
|
Total |
7.354 |
7.419 |
6.587 |
5.747 |
4.888 |
3.998 |
|
J. Surplus Before Taxation |
4.593 |
4.319 |
6.033 |
6.541 |
8.473 |
9.556 |
|
K. Taxation |
0.919 |
0.864 |
1.207 |
1.308 |
1.695 |
1.911 |
|
L. Surplus / net Income after Tax |
3.675 |
3.455 |
4.826 |
5.233 |
6.779 |
7.645 |
|
M. Depreciation |
4.750 |
4.275 |
3.848 |
3.463 |
3.116 |
2.805 |
|
N. Surplus available for Repayment |
8.424 |
7.730 |
8.674 |
8.696 |
9.895 |
10.450 |
PROJECTED BALANCE
SHEET AND STATEMENT OF AFFAIRS
Rs in Millions
|
Head of the Account |
First Year |
Second Year |
Third Year |
Forth Year |
Fifth Year |
Sixth Year |
|
Year |
March 2009 |
March 2010 |
March 2011 |
March 2012 |
March 2013 |
March 2014 |
|
|
Projected |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Properties and Assets |
|
|
|
|
|
|
|
Gross Block |
47.500 |
47.500 |
47.500 |
47.500 |
47.500 |
47.500 |
|
Less Total Depreciation |
4.750 |
9.025 |
12.873 |
16.335 |
19.452 |
22.257 |
|
Net Block – WDV |
42.750 |
38.475 |
34.628 |
31.165 |
28.048 |
25.243 |
|
|
|
|
|
|
|
|
|
Current Assets |
|
|
|
|
|
|
|
Current Assets other than cash |
3.437 |
3.488 |
3.779 |
3.848 |
4.229 |
4.448 |
|
Cash and Bank |
1.758 |
1.783 |
1.808 |
1.833 |
1.858 |
1.883 |
|
|
47.945 |
43.746 |
40.214 |
36.846 |
34.135 |
31.575 |
|
Deposits and Sundry advances |
1.774 |
3.188 |
5.299 |
6.958 |
9.276 |
11.562 |
|
|
|
|
|
|
|
|
|
Total |
49.719 |
46.934 |
45.513 |
43.803 |
43.410 |
43.137 |
|
|
|
|
|
|
|
|
|
Head of Account |
First Year |
Second Year |
Third Year |
Forth Year |
Fifth Year |
Sixth Year |
|
|
Projected |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital and Liabilities |
|
|
|
|
|
|
|
Share Capital – Authorized and paid up |
0.500 |
0.500 |
0.500 |
0.500 |
0.500 |
0.500 |
|
Reserve and Surplus – Profit and Loss
Account |
3.675 |
7.130 |
11.956 |
17.189 |
23.968 |
31.613 |
|
Secured Loans : Term Loan |
27.626 |
24.440 |
3020.851 |
16.806 |
12.249 |
7.113 |
|
Cash Credit Balance |
- |
0 |
0 |
0 |
0 |
0 |
|
Sundry creditors and Provisions for IT |
0.919 |
0.864 |
1.207 |
1.308 |
1.695 |
1.911 |
|
|
32.719 |
32.934 |
34.513 |
35.803 |
38.410 |
41.137 |
|
Loans From Directors |
17.000 |
14.000 |
11.000 |
8.000 |
5.000 |
2.000 |
|
|
|
|
|
|
|
|
|
Total |
49.719 |
46.934 |
45.513 |
43.803 |
43.411 |
43.137 |
RESERVE AND
SURPLUS A/C PROFIT AND LOSS ACCOUNT
Rs in Millions
|
First Year |
Second Year |
Third Year |
Forth Year |
Fifth Year |
Sixth Year |
|
|
Year |
March 2009 |
March 2010 |
March 2011 |
March 2012 |
March 2013 |
March 2014 |
|
|
Projected |
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reserve and Surplus – Profit and Loss
Account |
|
|
|
|
|
|
|
Opening Balance |
|
3.675 |
7.130 |
11.956 |
17.189 |
23.968 |
|
Additions |
-- |
-- |
-- |
-- |
-- |
-- |
|
Net Profit |
3.675 |
3.455 |
4.826 |
5.233 |
6.779 |
7.645 |
|
Proprietor’s Capital Balance |
3.675 |
7.130 |
11.956 |
17.189 |
23.968 |
31.613 |
|
|
|
|
|
|
|
|
|
COMPUTATION OF
WORKING CAPITAL |
||||||
|
|
|
|
|
|
|
|
|
Head of the Account |
First Year |
Second Year |
Third Year |
Forth Year |
Fifth Year |
Sixth Year |
|
1. Stock of Consumables |
0.178 |
0.195 |
0.215 |
0.236 |
0.260 |
0.286 |
|
2. Receivables |
3.094 |
3.094 |
3.325 |
3.325 |
3.625 |
3.750 |
|
Subtotal |
3.271 |
3.289 |
3.540 |
3.561 |
3.885 |
4.036 |
|
|
|
|
|
|
|
|
|
3. Other advances |
0.166 |
0.199 |
0.239 |
0.287 |
0.344 |
0.413 |
|
Total Current Assets |
3.437 |
3.488 |
3.779 |
3.848 |
4.229 |
4.448 |
|
Less : Sundry Creditors |
-- |
-- |
-- |
-- |
-- |
-- |
|
Working Capital |
3.437 |
3.488 |
3.779 |
3.848 |
4.229 |
4.448 |
|
Margin Money |
1.375 |
1.395 |
1.511 |
1.539 |
1.691 |
1.779 |
|
Bank Permissible Cash Credit |
2.062 |
2.093 |
2.267 |
2.309 |
2.537 |
2.669 |
|
Average Utilisation |
0 |
0 |
0 |
0 |
0 |
0 |
|
Interest @ 12% p.a. |
0 |
0 |
0 |
0 |
0 |
0 |
|
Total Interest – C/C |
0 |
0 |
0 |
0 |
0 |
0 |
|
|
|
|
|
|
|
|
|
STATEMENT
SHOWING D.S.C.R. [DEBT SERVICE COVERAGE RATIO] |
||||||
|
|
|
|
|
|
|
|
|
Head of the Account |
First Year |
Second Year |
Third Year |
Forth Year |
Fifth Year |
Sixth Year |
|
|
|
|
|
|
|
|
|
Net Profit |
3.675 |
3.455 |
4.826 |
5.233 |
6.779 |
7.645 |
|
Depreciation |
4.750 |
4.275 |
3.848 |
3.463 |
3.116 |
2.805 |
|
Interest |
2.604 |
3.144 |
2.740 |
2.284 |
1.771 |
1.193 |
|
Net Cash Accruals + Interest |
11.029 |
10.874 |
11.413 |
10.980 |
11.667 |
11.643 |
|
|
|
|
|
|
|
|
|
Total Repayment |
|
|
|
|
|
|
|
Principal amount repaid |
1.915 |
3.185 |
3.589 |
4.044 |
4.558 |
5.136 |
|
Interest on Term Loan |
2.604 |
3.144 |
2.740 |
2.284 |
1.771 |
1.193 |
|
Total Repayment |
4.519 |
6.329 |
6.329 |
6.329 |
6.329 |
6.329 |
|
D.S.C.R. |
2.440 |
1.718 |
1.803 |
1.735 |
1.843 |
1.840 |
|
Average DSCR Gross Accrual |
|
90.165 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Repayment |
|
43.844 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Hence Average DSCR |
2.056 |
|||||
FUNDS FLOW
STATEMENT
Rs in Millions
|
Head of the Account |
First Year |
Second Year |
Third Year |
Forth Year |
Fifth Year |
Sixth Year |
|
Year |
March 2009 |
March 2010 |
March 2011 |
March 2012 |
March 2013 |
March 2014 |
|
|
Projected |
|||||
|
|
|
|
|
|
|
|
|
[A] Sources of Funds |
|
|
|
|
|
|
|
1. Opening Cash Bank |
-- |
1.758 |
1.783 |
1.808 |
1.833 |
1.858 |
|
2. Cash Accruals |
3.675 |
3.455 |
4.826 |
5.232 |
6.778 |
7.645 |
|
3. Increases in T. L. |
29.541 |
-- |
-- |
-- |
-- |
-- |
|
4. Deprecation |
4.750 |
4.275 |
3.848 |
3.463 |
3.116 |
2.805 |
|
5. Increase in Sundry Creditors |
-- |
-- |
-- |
-- |
-- |
-- |
|
6. Increase in Unsecured Loans |
17.000 |
-- |
-- |
-- |
-- |
-- |
|
7. Increase in Cash Credit balance |
-- |
0 |
0 |
0 |
0 |
0 |
|
8. Preliminary Expenses W/off |
-- |
-- |
-- |
-- |
-- |
-- |
|
9. Increase in Provisions – IT |
0.919 |
0.864 |
1.207 |
1.308 |
1.695 |
1.911 |
|
10. Increase in Share Capital |
0.500 |
-- |
-- |
-- |
-- |
-- |
|
11. Increase in Share Application and Di |
-- |
|
|
|
|
|
|
Total sources of Fund |
56.384 |
10.352 |
11.663 |
11.812 |
13.422 |
14.219 |
|
|
|
|
|
|
|
|
|
[B] Disposition of Funds |
|
|
|
|
|
|
|
1. Increase in Fixed Assets |
47.500 |
-- |
-- |
-- |
-- |
-- |
|
2. Increase in Current assets |
3.437 |
0.051 |
0.291 |
0.069 |
0.381 |
0.220 |
|
3. Decrease in Long term Loans |
1.915 |
3.185 |
3.589 |
4.045 |
4.558 |
5.136 |
|
4. Interest |
-- |
-- |
-- |
-- |
-- |
-- |
|
5. Increase in deposits |
1.774 |
1.414 |
2.111 |
1.658 |
2.318 |
2.286 |
|
6. Decrease in Provisions |
-- |
0.919 |
0.864 |
1.207 |
1.308 |
1.695 |
|
7. Decrease in Unsecured Loans |
-- |
3.000 |
3.000 |
3.000 |
3.000 |
3.000 |
|
8. Preliminary Expenses |
-- |
-- |
-- |
-- |
-- |
-- |
|
9. Closing Cash and Bank |
1.758 |
1.783 |
1.808 |
1.833 |
1.858 |
1.883 |
|
10. Tr. From Capital |
-- |
-- |
-- |
-- |
-- |
-- |
|
Total disposition of Funds |
56.384 |
10.352 |
11.663 |
11.812 |
13.422 |
14.219 |
VALUE ADDED RATIOS
Formulae :
Value Addition = Sales – [Cost of Raw material + Cost of Variable] X 100
---------------------------------------------------------------------------
[Cost of Raw material + Cost of Variable]
Cost of Variable = Administrative Expenses *0.40 + Interest
Total Variable Cost = Cost of Raw Material + Cost of Variable
Rs in Millions
|
Particulars |
First Year |
Second Year |
Third Year |
Forth Year |
Fifth Year |
Sixth Year |
|
|
March 2009 |
March 2010 |
March 2011 |
March 2012 |
March 2013 |
March 2014 |
|
|
Projected |
|||||
|
|
|
|
|
|
|
|
|
A. Target Sales |
14.850 |
14.850 |
15.960 |
17.400 |
18.000 |
18.600 |
|
|
|
|
|
|
|
|
|
B. Cost of Raw Material |
2.633 |
2.829 |
3.043 |
3.359 |
3.710 |
4.100 |
|
|
|
|
|
|
|
|
|
C. Cost of Variable |
2.712 |
3.257 |
2.859 |
2.409 |
1.903 |
1.331 |
|
|
|
|
|
|
|
|
|
D. Value Addition |
177.84 |
144.02 |
170.45 |
176.67 |
209.98 |
231.37 |
CERTIFICATE OF
INVESTMENT
This is to certify that in the cold storage
project margin money going to be rise by company “Tuljabhawadi Cold Storage
Private Limited” it is details below towards its contribution as margin money.
Rs in Millions+
|
Sr No |
Type of Investment |
Name of investor |
PAN No. |
Amount in Rs. |
|
|
|
|
|
|
|
1 |
Unsecured loan |
Tuljabhawani Cold Storage |
AEMPG2006E |
4.500 |
|
2 |
Unsecured loan |
Vijay D Jagdale |
AEUPJ6525M |
1.000 |
|
3 |
Unsecured loan |
Charulata K Gaikwad |
AIYPG5054A |
1.000 |
|
4 |
Unsecured loan |
Varsha D Gaikwad |
AIYPG5053H |
0.500 |
|
5 |
Unsecured loan |
Sheetal D Gaikwad |
AIYPG5105C |
0.500 |
|
6 |
Unsecured loan |
Dhairyasheel K Gaikwad |
AFLPG2099D |
1.000 |
|
7 |
Director Loan |
Dhananjay K Gaikwad |
AENPG2006E |
1.500 |
|
8 |
Director Loan |
Anita K Gaikwad |
AGRPG9596L |
0.500 |
|
9 |
Cold storage income from Feb – 08 to April
08 |
Tuljabhawani Cold Storage Private Limited |
AABCT8773H |
6.500 |
|
|
|
|
|
17.000 |
The above investment of Rs. 17.000 Millions is done up to 30.06.2008 by
company as its contribution in project whose source is as details above.
This certificate is given as per produced by company.
Report of immovable property [other than Agricultural Land, Plantations,
Forests, Mines and Quarries]
GENERAL :
|
Purpose for which valuation is made |
To find out the valuation of the property |
|
|
|
|
Date on which valuation is made |
11.07.2008 |
|
|
|
|
Name of the owner |
Tulajabhavani Cold Storage Private Limited |
|
|
|
|
If the property is under joint ownership /
co-ownership, share of each such owner. Are the shares undivided ? |
Sole ownership. |
|
|
|
|
It is freehold or Leasehold Land |
Leasehold |
|
|
|
|
Brief description of property |
Towards East : Road West : Railwayline South : Plot No. D – 18 North : Plot No. D – 20 |
|
|
|
|
Is the property situated in Residential / Commercial
/ Mixed area ? |
Industrial |
|
|
|
|
Classification of locality high class /
middle class / poor class |
Middle Class |
|
|
|
|
Proximity to civic amenities, school, nearby
hospitals, offices, market, cinemas etc.
|
All civic amenities are available |
|
|
|
|
Means and proximity to surface communication
by which the locality served. |
Auto Rikshaw. |
VALUATION
Justification / Valuation details for assessing
Valuation of Residential building and land in plot No. D – 19, M.I.D.C,
Baramati, District Pune
Hence on local genuine enquiry’s survey and
considering general market trend it is found that such sand similar properties
are being sold / purchased at the average rates for commercial are as follows.
Fair Market Value of the property shall be :
|
1. |
Land 8399.00 Sqm. X Rs. 150.00 per Sqm. |
= Rs. 1.260 Millions |
|
|
|
|
|
2. |
Building : G.F. + F.F. + S.F. 26858.14 Sqft. X Rs. 750.00 per Sqft. Security Room : 100.00 Sqft. X Rs. 600.00
per Sqft. Electric Meter Room and D. G. Set. : 260.00
Sqft. X Rs. 550.00 Compound Wall, Gate and C. D. Work : 1291’0
X Rs. 500.00 Murum Filling in Plot and around building : M.S.F.B. electricity supply deposit : M.I.D.C. water supply deposit : B.S.N.L. telephone connection deposit : Office Interior and Furniture : Insulation done to walls, floor and ceiling
on various floors with required thickness of thermocol as per specifications
[rate after depreciation] Deep Freez : Piping with insulation : Wooden Pallet for flooring in GF, FF, SF
size 1.5”X3”X4’6”
54000.00 Sqft. X Rs. 56.00 per Sqft. Industrial flooring with reinforcement on
ground Floor : 22830.00 Sqft. X Rs. 200.000 Cold Storage doors and P.V.C. curtain Strips
8.00 Nos X Rs. 90000.00 Electric insulstion of Wires etc. Value of Machinery |
= Rs. 20.144 Millions = Rs. 0.060 Million = Rs. 0.143 Million = Rs. 0.645 Million Rs. 2.100 Millions = Rs. 0.550 Million = Rs. 0.010 Million = Rs. 0.004 Million = Rs. 0.200 Million = Rs. 6.000 Millions = Rs. 1.500 Millions = Rs. 3.024 Millions Rs. 4.566 Millions Rs. 0.720 Millions Rs. 0.500 Million Rs. 6.100 Millions |
|
|
|
|
|
|
Total |
Rs. 47.525 Millions |
Final valuation of the property assessed as on
11.07.2008, is Rs. 47.500 Millions
Report of immovable property [other than Agricultural Land, Plantations,
Forests, Mines and Quarries]
GENERAL :
|
Purpose for which valuation is made |
To find out the valuation of the property |
|
|
|
|
Date on which valuation is made |
11.07.2008 |
|
|
|
|
Name of the owner |
Mr. Dhananjay Krishnanth Gaikwad Ms. Charulal Krishnanath Gaikwad |
|
|
|
|
If the property is under joint ownership /
co-ownership, share of each such owner. Are the shares undivided ? |
Joint Ownership. |
|
|
|
|
It is freehold or Leasehold Land |
Freehold |
|
|
|
|
Brief description of property |
Towards East : Plot No. 57 West : Plot No. 56 pt. South : Sai Park Apartment North : Road |
|
|
|
|
Is the property situated in Residential /
Commercial / Mixed area ? |
Residential |
|
|
|
|
Classification of locality high class /
middle class / poor class |
Middle Class |
|
|
|
|
Proximity to civic amenities, school, nearby
hospitals, offices, market, cinemas etc.
|
All civic amenities are available |
|
|
|
|
Means and proximity to surface communication
by which the locality served |
Any Vehicles |
Fair Market Value of the property shall be :
|
|
|
|
|
1 |
Land : 2470.00 Sqft. X Rs. 800/- |
= Rs. 1.976 Millions |
|
|
|
|
|
2 |
Building : 2300.00 Sqft. X Rs. 650/- |
= Rs. 1.495 Millions |
|
|
|
|
|
|
|
= Rs. 3.471 Millions |
TULJABHAWANI
COLD STORAGE
PERSONAL BALANCE
SHEET
[Mr. Dhananjay K.
Gaikwad]
|
SOURCES OF FUNDS |
|
|
31.03.2008 [Tentative] |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Capital Account |
|
|
4.159 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
4.159 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.090 |
|
|
2] Unsecured Loans |
|
|
0.793 |
|
|
TOTAL BORROWING |
|
|
0.883 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5.042 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
3.313 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Sundry Debtors |
|
|
1.130
|
|
|
Cash & Bank Balances |
|
|
0.036
|
|
|
Other Current Assets |
|
|
0.596
|
|
|
Deposits |
|
|
0.113
|
|
|
Loans & Advances |
|
|
0.000
|
|
Total
Current Assets |
|
|
1.875
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
0.146
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
0.146
|
|
|
Net Current Assets |
|
|
1.729
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5.042 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2008 [Tentative] |
|
|
Rent Receipts |
|
|
4.266 |
|
|
|
|
|
|
|
|
Net Profit |
|
|
0.951 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Advertisement |
|
|
0.038 |
|
|
Shop Expenses |
|
|
0.030 |
|
|
Travelling and Conveyance |
|
|
0.046 |
|
|
Electricity Expenses |
|
|
0.595 |
|
|
Telephone |
|
|
0.057 |
|
|
Salary |
|
|
0.473 |
|
|
Bonus |
|
|
0.141 |
|
|
Accounting Charges |
|
|
0.048 |
|
|
Water Expenses |
|
|
0.014 |
|
|
Hamali Expenses |
|
|
0.182 |
|
|
Oil, Fuel and Gas |
|
|
0.188 |
|
|
Audit and Lawyer Fees |
|
|
0.018 |
|
|
Machinery Expenses |
|
|
0.194 |
|
|
Insurance |
|
|
0.018 |
|
|
Building Repair and Maintenance |
|
|
0.379 |
|
|
Bank Commission |
|
|
0.020 |
|
|
Bank Interest |
|
|
0.390 |
|
|
Kasar A/c |
|
|
0.051 |
|
|
Depreciation |
|
|
0.433 |
|
Total Expenditure |
|
|
3.315 |
|
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.49.77 |
|
UK Pound |
1 |
Rs.79.78 |
|
Euro |
1 |
Rs.63.36 |
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. |
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 |
|