MIRA
INFORM REPORT
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Report Date : |
20.11.2008 |
IDENTIFICATION DETAILS
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Name : |
PRABHUDESAI HOTELS AND RESORTS PRIVATE LIMITED |
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Registered Office : |
Shop No. 01 and 02, |
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Country : |
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Date of Incorporation : |
14.02.2008 |
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Com. Reg. No.: |
005601 |
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CIN No.: [Company
Identification No.] |
U55101GA2008PTC005601 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Proposed to Carry on the business of running hotels, holiday resorts
and restaurant |
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 : |
Project under implementation |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a new project and planning to build a new resort in It would be advisable to take adequate securities while dealings with
the subject. |
LOCATIONS
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Registered Office : |
Shop No. 01 and 02, |
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Tel. No.: |
91-832-2643315/ 17 |
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E-Mail : |
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Godown: |
Ground Floor, |
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Tel. No.: |
91-832-2643315 |
DIRECTORS
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Name : |
Mr. Pradip Prabhu Desai |
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Designation : |
Director |
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Address : |
310, Civil Court, Police Station Sheller, Canacona-403702, |
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Date of Birth/Age : |
02.02.1961 |
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Qualification: |
B’Com |
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Name : |
Mrs. Pratibha Prabhudesai |
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Designation : |
Director |
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Address : |
310, Civil Court, Police Station Sheller, Canacona-403702, |
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Date of Birth/Age : |
12.03.1972 |
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Qualification: |
B’Com |
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Name : |
Mr. Anant G Prabhudesai |
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Designation : |
Director |
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Address: |
“Shankar” 300, Agswada, Mashem, Canacona, Goa-403728 |
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Date of Birth/Age : |
44 Years |
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Qualification: |
Diploma Engineer |
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Name : |
Mr. Ravalnath N Lawanoj |
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Designation : |
Director |
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Address: |
F/2, Bhadra, |
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Date of Birth/Age : |
62 Years |
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Qualification: |
B’com. |
BUSINESS DETAILS
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Line of Business : |
Proposed to Carry on the business of running hotels, holiday resorts
and restaurant |
GENERAL INFORMATION
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Bankers : |
·
Syndicate Bank ·
The ·
The Citizen Co-operative Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Not Available |
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Associates/Subsidiaries : |
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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 |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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Not Available |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
New Company
LOCAL AGENCY FURTHER INFORMATION
APPLICATION
FOR NON-PRIRITY TRADE ADVANCES OTHER THAN FOR VEHICLE LOANS
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Trade Name: |
Rajbag Resorts A Unit of
Prabhudesai Hotel and Resorts Private Limited |
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Address of
Godown: |
Shop No. 1 and 2, |
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Tel No.: |
91-832-2643315/ 16/17/ 2643324 |
PARTICULARS
OF DIRECTORS
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Name |
Age |
Father’s Name Husband’ Name |
Net Worth As per statement |
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Mr. Pradeep Gopal Prabhudesai |
47 Years |
Gopal |
Rs.15.893 Millions |
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Mrs. Pratibha Pradeep Prabhudesai |
36 Years |
Pradeep |
Rs 12.383 Millions |
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Mr. Anant G Prabhudesai |
44 Years |
Gopal |
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Mr. Ravalnath N Lawanoj |
62 Years |
Nagesh |
Rs. 4.020 Millions |
GUARANTOR(S)
PROPOSED
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Name of The
Guaranter |
Age |
Occupation |
Annual Income |
Net Worth as per
statement |
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Mr. Pradeep G Prabhudesai |
47 Years |
Business |
Rs. 61.600 Millions |
Rs. 15.893 Millions |
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Mr. Prathibha P Prabhudesai |
36 Years |
House Wife |
Rs 61.607 Millions |
Rs. 12.383 Millions |
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Mr. Anant G Prabhudesai |
44 Years |
Business |
Rs. 0.504 Millions |
Rs. 4.021 Millions |
PROJECT AT GLANCE
The name of the Company “Prabhudesai Hotels and Resorts Private Limited”
originated from the name of its Chief Promoter Mr. Pradeep G Prabhudesai. It
was incorporated on 14th February, 2008 under the Companies Act,
1956 and that it is Private Limited. The Registered Office of the Company is
situated at Ground Floor,
The Promoters Group of the Company comprises of :
(a)
Mr. Pradeep Gopal Prabhudesai
(b)
Mrs. Pratibha Pradeep Prabhudesai
(c)
Mr. Anant Gopal Prabhudesai and
(d)
Mr. Ravalnath Nagesh Loavande
The company is incorporated with the prime object to carry on the
business of running hotels, holiday resorts and restaurants. The Chief
Promoters namely Mr. Pradeep Gopal
Prabhudesai along with Mrs. Pratibha Pradeep Prabhudesai have purchased a Plot
of Land admeasuring approximately 1740 square meters known as “Rajbag” situated
at Village Nagorcem-Palolem of Cnacona Taluka.
The Promoters and Directors have decided to develop and construct with
the assistance of reputed Construction Companies a Resort which will consist of
the following.:
(a)
36 Deluxe Suits on First and Second Floors, Deluxe
Suits will have amenities like Double Bed Pillows of reputed Companies, having
split Air Conditioner Unit, Room Refrigerator and LCD (CTV) with Marble
Flooring.
(b)
Conference Hall of 80 square meters on the Ground
Floor. Conference Hall will be furnished with Marble and will contain on LCD
and Overhead Projector and the Hall will be fully air-conditioned.
(c)
An 400 square meter Open Air Auditorium and Dance
Floor on the Third Floor. Lift facility will be available. Besides, the
landscaped outdoors, beachfront and poolside are ideal for informal functions.
(d)
24-hour multi cuisine restaurant with a colorful
ambience and an interactive service style serving Indian an Continetal Foods
with soft music played in the background.
The Company is expected to have an added advantage due to its location.
The entire Canacone Talace has been declared 100% Pollution Fees since there is
no Industrial Belt. Further, Canacone is the end-point of
In addition to its location advantages, the booming tourism industry and
the importance shown by the government to this sector by proposing to place the
hotel projects at par with other infrastructure projects have assured a
long-term growth to the Hotel Industry.
As per the Economic Times of 6th November, 2007, the government is planning to offer a five
year income tax holiday to five star, two-star and budget hotels. This proposal
comes in the wake of acute shortage of hotel rooms acting as a spoiler for country’s
booming tourism.
According to government estimates, foreign arrivals in
The total Cost of the project is Rs. 45.000 Million as under:
|
Description |
Amount Rs.
In Millions |
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Building |
35.834 |
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Plant and Machinery (DG Set, Etc) |
3.464 |
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Electrical Installation |
2.127 |
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Miscellaneous Fixed Assets (Furniture, Office Equipments, etc) |
2.907 |
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Contingencies at 1 per cent |
0.445 |
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Margin Money for Working Capital |
0.150 |
The detail of Finance Requirements for the Project is considered
hereunder:
·
Loan Amount: Upto Rs. 40.000 Millions
·
Date : Initially at the commencement of the Project
·
Tenure : For atleast 6 years
·
Interest Rate : 12% per annum at reducing balance
·
Moratorium Period : 1 Year
PROMOTERS BIO-
DATA
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Name: |
Mr. Pradeep Gopal Prabhudesai |
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Fathers’ Name: |
Mr. Gopal Prabhudesai |
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Date of Birth: |
02.02.1961 |
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Age: |
47 Years |
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Academic
Qualification : |
B’Com |
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Residential
Address: |
“TARA” 310, Civil Court, Sheller- Canacona-403702, |
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Other Associates
Concerns: |
(a)
Prabudesai Gas Services (b)
Tardeep Enterprises (c)
Vaishnvi Developers |
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Telephone Nos.: |
91-832-2643315/ 17 and |
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Bankers: |
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Experience and
Background: |
He is one of the core management personnel of the group. He has the knack of getting the work done through his practical and
hands-on approach. In 1985 after completing graduation, started H.P Gas Distribution
Agency in Canacone Taluka, which is now catering to over 10000 L.P.G
Customers including Resorts. In 1988 started the business of dealing in Steel Furniture and White
goods including Electrical Home Appliances Recently, in 2000 stepped into Real Estate Business, which includes
construction of Multistoried Buildings and building and development fo
residential plots and flats. |
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Name: |
Mrs. Pratibha Pradeep Prabhudesai |
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Fathers’ Name: |
Mr. Nagesh Prabhu |
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Date of Birth: |
12.03.1972 |
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Age: |
36 Years |
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Academic
Qualification : |
B’Com |
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Residential
Address: |
“TARA” 310, Civil Court, Sheller-Canacona, Goa-403702, |
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Business
Address: |
Shop No. 1 and 2, |
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Other Associates
Concerns: |
Nil |
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Telephone Nos.: |
91-832-2643315/ 17 |
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Bankers: |
The |
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Experience and
Background: |
Her experience in the Industry will assist the Company in cutting down
the operations overheads thereby maximizing returns. |
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Name: |
Mr. Anant Gopal Prabhudesai |
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Fathers’ Name: |
Mr. Gopal Prabhudesai |
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Date of Birth: |
12.12.1963 |
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Age: |
44 Years |
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Academic
Qualification : |
Diploma Engineer |
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Residential
Address: |
“Shankar” 300, Agswada, Mashem, Canacona, Goa-403728 |
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Business
Address: |
Shop No. 1 and 2, |
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Other Associates
Concerns: |
(a) Gopresh Traders (Engineers and Contractors) |
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Telephone Nos.: |
91-832-2643318 and |
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Bankers: |
The |
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Experience and
Background: |
Engineer by Profession, has a vast knowledge relating to all technical
aspects. His guidance on the construction of the proposed resort will be of
immense use. Worked as Quality Controller in Photophone Industries Limited
and as a Quality Assistant Engineer in Rudal Circa Print Private Limited |
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Name: |
Mr. Ravalnath Nagesh Lavande |
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Fathers’ Name: |
Mr. Nagesh Lanvande |
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Age: |
62 Years |
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Academic
Qualification : |
B’com. |
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Residential
Address: |
F/2, Bhadra, |
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Business
Address: |
Shop No. 1 and 2, |
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Other Associates
Concerns: |
Nil |
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Telephone Nos.: |
91-832-2414722 |
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Bankers: |
The |
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Experience and
Background: |
His strong public relation will help the Company in getting booking,
which is a crucial area for any Hotel Industry to succeed. He is an Ex.
Income Tax Office (UDC) and and Ex Public Relation Officer (PRO) of the Goa Urban
Co-operative Bank Limited. Presently, holds Directorship of the Goa Urban Co
– operative Bank Limited |
LOCATION AND SITE
SELECTION
The Project Site is located at Rajbag Conacone, Opposite Proposed Natinal
Highway 17, Near Intercontinental The Grand Goa Resorts ( 7-star), 1.5 km from
world famous
Variously known as “
The Site is comfortably connected with all the modern means of
communication. The
LAND AND BUILDING
The Company have obtained Certificate/ estimate form a qualified Civil
Engineer for the cost of construction of the Building. The Total cost Works out
to Rs. 36.803 Millions as detailed hereunder.:
LAND:
(1)
Place: Rajbag Canacone
(2)
Proposed Built up Area: 1937 square Meter
(3)
Rate per Square Meter: Rs. 0.019 Million
(4)
Value|: Rs. 36.803 Million
(5)
Value rounded off in Project Cost as Rs. 35.834
Millions
The value excludes the cost of the land which is estimated at Rs. The
Promoters are in the occupation and ownership of the aforesaid land and willing
to permit the Company to use the same for the purpose of the project on the
terms and conditions which are in the best interest of the company.
The company has obtained quotations form the Machinery Suppliers
along-with the leaf-lets for machinery specifications. The list of the items of
Machinery chosen alongwith the name of the supplier is considered as under:
|
Supplier Name |
Machinery
Specification |
Quantity |
Amount (Rs.
In Millions) |
|
Power Engineering ( |
1 X 250 KVA Diesel Genset |
1 |
1.695 |
|
Konkan Renewables Private Limited |
3000 ltr Solar Water Heating System |
1 |
1.049 |
|
Stanelec Private Limited |
Copper Wound Distribution Trnasformer |
1 |
0.354 |
|
APS Water Industries |
Swimming Pool Filteration System |
1 |
0.366 |
ELECTRICAL INSTALLATION
AND OTHER FIXED ASSETS
|
Particulars |
Amount (Rs.
In Millions) |
|
Electrical Installation (Estimated form Taradeep Enterprises) |
2.127 |
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Furniture and Fittings (Estimated form Taradeep Enterprises) |
1.604 |
|
Passenger Elevator SWIFT (Estimated of KONE_ |
0.663 |
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Other Hotel and Diary Equipments (Estimates 3 Nos. form Mahalaximi Hotels and Diary Equipments) |
0.640 |
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Lines and Uniforms (Estimate from Jagannath Uniforms) |
0.074 |
|
Total Cost |
5.018 |
TOTAL COST OF PROJECTS AND MEANS OF FINANCE
|
COST OF THE PROJECTS |
Amount (Rs. In
Millions) |
|
Building |
35.834 |
|
Plant and Machinery ( DG Set, Etc) |
3.464 |
|
Electrical Insatalltion |
2.127 |
|
Miscellaneous Fixed Assets (Furniture, Office
Equipments, etc) |
2.981 |
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Contingencies at 1 per cent |
0.444 |
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Margin Money for Working capital |
0.150 |
|
Total |
45.000 |
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MEANS OF FINANCE |
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|
Promoters contribution |
5.000 |
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Term Loan form Bank/ Financial Institutions (Moratorium period of 1 year) |
40.000 |
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Total |
45.000 |
DEBT SERVICES COVERAGE RATION
D S C R as computed below illustrates
Company’s ability to pay regularly installments towards term loan along with
interest due thereon at maturity dates.
Rs. In Millions)
|
Description |
2009-10 |
2010-11 |
2011-12 |
2012-13 |
2013-14 |
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|
Projected |
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Net Profit After Tax |
4.586 |
6.961 |
10.307 |
15.608 |
22.685 |
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Add: Depreciation |
2.209 |
4.162 |
4.586 |
4.483 |
4.414 |
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Add: Interest on Term Loan |
2.100 |
4.078 |
3.325 |
2.485 |
1.645 |
|
(A) Total Funds Available |
8.896 |
15.200 |
18.218 |
22.576 |
28.741 |
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Interest on Term Loan |
2.100 |
4.078 |
3.325 |
2.485 |
1.645 |
|
Installments |
-- |
3.500 |
7.000 |
7.000 |
7.000 |
|
(B) Total Bank Obligation |
2.100 |
7.578 |
10.325 |
9.485 |
8.645 |
|
D S C R [(A) / (B)] |
4.24 |
2.01 |
1.76 |
2.38 |
3.32 |
Average Total D S C R = Total Funds available
over the period/ Total Bank Obligation
=
93.632/ 38.133 ( Rs. In Millions)
=
2.46
PROBABALE PROFITABI
(Rs. In Millions)
|
Description |
2009-10 |
2010-11 |
2011-12 |
2012-13 |
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|
Projected |
|||
|
Income |
|
|
|
|
|
Suits Tariff |
17.010 |
24.255 |
32.760 |
47.250 |
|
Conference Room |
1.890 |
2.625 |
3.850 |
5.250 |
|
AC Party Hall |
1.050 |
1.920 |
2.352 |
2.700 |
|
Restaurant |
5.250 |
9.625 |
13.650 |
17.150 |
|
Total Income |
25.200 |
38.425 |
52.612 |
72.350 |
|
Expenditure |
|
|
|
|
|
Material Cost |
3.937 |
7.219 |
10.238 |
12.863 |
|
Personnel Cost |
1.000 |
1.250 |
3.125 |
5.000 |
|
Electricity |
1.728 |
1.800 |
2.808 |
4.800 |
|
Repairs to Building |
0.444 |
0.444 |
0.599 |
1.199 |
|
Other Repairs |
0.500 |
0.575 |
0.805 |
1.610 |
|
Advertisement |
1.500 |
1.800 |
2.400 |
3.000 |
|
Insurance |
0.888 |
1.110 |
1.443 |
2.020 |
|
Telephone |
0.800 |
0.960 |
1.200 |
1.680 |
|
Travel and Conveyance |
0.840 |
0.920 |
0.990 |
1.125 |
|
Other Expenses |
2.016 |
3.074 |
4.209 |
6.513 |
|
Total Expenses |
13.653 |
19.152 |
27.817 |
39.810 |
|
Operating Profits |
11.546 |
19.273 |
24.795 |
32.542 |
|
Interest on Term Loan |
2.400 |
4.660 |
3.800 |
2.840 |
|
Interest on W/C |
0.120 |
0.300 |
0.418 |
0.638 |
|
Total Interest |
2.520 |
4.960 |
4.218 |
3.478 |
|
Depreciation |
2.388 |
4.514 |
4.925 |
4.808 |
|
Profit Before
Tax |
6.638 |
9.799 |
15.652 |
24.256 |
|
Income Tax |
2.241 |
3.304 |
5.592 |
9.500 |
|
Fringe Benefit Tax |
0.241 |
0.288 |
0.451 |
0.596 |
|
Total Tax |
2.481 |
3.592 |
6.043 |
10.097 |
|
Profit After Tax |
4.157 |
6.208 |
9.609 |
14.160 |
(Rs. In Millions)
|
Description |
2013-14 |
2014-15 |
2015-16 |
|
|
Projected |
||
|
Income |
|
|
|
|
Suits Tariff |
64.260 |
69.615 |
80.325 |
|
Conference Room |
6.825 |
8.575 |
10.500 |
|
AC Party Hall |
3.200 |
3.740 |
4.080 |
|
Restaurant |
26.250 |
33.600 |
42.000 |
|
Total Income |
100.535 |
115.530 |
136.905 |
|
Expenditure |
|
|
|
|
Material Cost |
19.687 |
20.160 |
23.520 |
|
Personnel Cost |
8.000 |
11.200 |
14.000 |
|
Electricity |
5.760 |
6.480 |
7.200 |
|
Repairs to Building |
1.439 |
1.727 |
1.985 |
|
Other Repairs |
1.932 |
2.222 |
2.666 |
|
Advertisement |
3.600 |
4.050 |
4.800 |
|
Insurance |
3.031 |
4.243 |
5.516 |
|
Telephone |
2.400 |
2.544 |
2.880 |
|
Travel and Conveyance |
1.380 |
1.632 |
1.740 |
|
Other Expenses |
10.054 |
11.553 |
13.691 |
|
Total Expenses |
57.283 |
65.811 |
77.998 |
|
Operating Profits |
43.253 |
49.720 |
58.907 |
|
Interest on Term Loan |
1.880 |
0.920 |
0.100 |
|
Interest on W/C |
1.000 |
1.350 |
1.750 |
|
Total Interest |
2.880 |
2.270 |
1.850 |
|
Depreciation |
4.723 |
4.103 |
3.576 |
|
Profit Before
Tax |
35.650 |
43.347 |
53.481 |
|
Income Tax |
14.712 |
17.709 |
21.698 |
|
Fringe Benefit Tax |
0.799 |
0.930 |
1.087 |
|
Total Tax |
15.511 |
18.639 |
22.785 |
|
Profit After Tax |
20.139 |
24.708 |
30.696 |
The type of customers would mainly include the
Tourists (Indian as well as Foreigners) However, the Company will strive to
attract the Corporate Sector to hold the Annual conferences and Meetings.
The company will touch it website and also
start advertising in various Tour Magazines. Also, the Company is planning to
have tie-up with the Tour Operators (
(a)
Central Government
Tourism Deparment
(b)
Goa Tourism Department
(c)
Karnataka Tourism
Department
(d)
Gujarat Tourism
Department
In view of the facilities offered and
locational advantage and also strong marketing techniques the company will
achieve the Projected Results.
PROJECTED BALANCE S
(Rs.. In Millions)
|
Description |
2009-10 |
2010-11 |
2011-12 |
2012-13 |
|
|
Projected |
|||
|
Liabilities |
|
|
|
|
|
Promoters Capital |
5.000 |
5.000 |
5.000 |
5.000 |
|
Reserves and Surplus |
4.157 |
10.365 |
19.974 |
34.134 |
|
Long Term Debts |
40.000 |
36.000 |
28.000 |
20.000 |
|
Total |
49.157 |
51.365 |
52.974 |
59.134 |
|
Assets |
|
|
|
|
|
Fixed Assets |
44.406 |
44.406 |
47.906 |
55.906 |
|
Gross Block |
2.388 |
6.902 |
11.827 |
16.634 |
|
Net Block |
42.018 |
37.504 |
36.079 |
39.272 |
|
Current Assets |
|
|
|
|
|
Inventories |
0.875 |
2.005 |
3.413 |
4.288 |
|
Debtors |
0.466 |
0.647 |
0.949 |
1.295 |
|
Cash and Bank Balances |
3.976 |
8.213 |
9.602 |
11.745 |
|
Loans and advances |
6.088 |
8.985 |
12.054 |
17.461 |
|
Total Current
Assets |
11.405 |
19.850 |
26.018 |
34.789 |
|
Less: |
|
|
|
|
|
Current Liabilities |
1.784 |
2.399 |
3.080 |
4.829 |
|
Provisions |
2.481 |
3.592 |
6.043 |
10.097 |
|
Total Current
Liabilities |
4.266 |
5.991 |
9.123 |
14.926 |
|
Net Current
Assets |
7.139 |
13.860 |
16.895 |
19.862 |
|
Total |
49.157 |
51.365 |
52.974 |
59.134 |
(Rs. In Millions)
|
Description |
2013-14 |
2014-15 |
2015-16 |
|
|
Projected |
||
|
Liabilities |
|
|
|
|
Promoters Capital |
5.000 |
5.000 |
5.000 |
|
Reserves and Surplus |
54.272 |
78.980 |
109.676 |
|
Long Term Debts |
12.000 |
4.000 |
-- |
|
Total |
71.272 |
87.980 |
159.252 |
|
Assets |
|
|
|
|
Fixed Assets |
55.906 |
55.906 |
55.906 |
|
Gross Block |
21.357 |
25.460 |
29.036 |
|
Net Block |
34.549 |
30.446 |
26.870 |
|
Current Assets |
|
|
|
|
Inventories |
6.563 |
8.400 |
10.500 |
|
Debtors |
1.683 |
2.114 |
2.589 |
|
Cash and Bank Balances |
13.366 |
15.000 |
17.500 |
|
Loans and advances |
37.816 |
59.530 |
91.627 |
|
Total Current
Assets |
59.428 |
85.044 |
122.216 |
|
Less: |
|
|
|
|
Current Liabilities |
7.193 |
8.871 |
11.625 |
|
Provisions |
15.511 |
18.639 |
22.785 |
|
Total Current
Liabilities |
22.704 |
27.510 |
34.410 |
|
Net Current
Assets |
36.723 |
57.534 |
87.806 |
|
Total |
71.272 |
87.980 |
159.252 |
RATIO ANALYSIS
|
Description |
09-10 |
10-11 |
11-12 |
12-13 |
13-14 |
14-15 |
15-16 |
|
|
Projected |
||||||
|
STURCTURAL RATIO |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt Equity Ratio |
4.37 |
2.34 |
1.12 |
0.51 |
0.20 |
0.05 |
-- |
|
Fixed Assets to Proprietory fund |
4.59 |
2.44 |
1.44 |
1.00 |
0.58 |
0.36 |
0.23 |
|
Current Assets to Proprietors Fund |
1.25 |
1.29 |
1.04 |
0.89 |
1.00 |
1.01 |
1.07 |
|
Fixed Assets to funded Debt |
1.05 |
1.04 |
1.29 |
1.96 |
2.88 |
7.61 |
-- |
|
|
|
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
|
|
|
Net Profit Ratio |
16.50 |
16.16 |
18.26 |
19.57 |
20.03 |
21.39 |
22.42 |
|
Return on Investment |
100.00 |
96.06 |
79.56 |
70.87 |
65.00 |
54.32 |
48.25 |
|
Interest Coverage Ratio |
3.63 |
2.98 |
4.71 |
7.98 |
13.38 |
20.10 |
29.91 |
NAME AND
DESCRIPTION OF THE PROPERTY
All that the immovable property being a duly sub-divided
plots of land, bearing plot Nos. A-3 admeasuring an area of 365 square meters,
A-4 admeasuring an area of 305 square meters, A-5 admeasuring an area of 300
square meters , A-10 admeasuring an area of 250 square meters, A-11 admeasuring
an area of 270 square meters asdn A-12 admeasuring an are of 250 square meters
of the bigger property commonly known as “QUINDELIBAG alias RAJABAGA” situated
in village Nagorcem Palolem, Taluka Canacone, District of South Goa, State of
Goa, within the limits of village panchayat of Nargorcem – Palolem and within
the registration sub-district of Canacona, registration district of Goa and
forming a part of the property described in the land registration office of
Quepem Goa under land registration No. 4183 of Book B No. 13 and forming a part
of the property enrolled in the land revenue office of Cannacona Goa under land
revenue Nos. 815, 816, 813 and 817 and forming duly sub-divided plots of the
property surveyed under survey Nos. 30/2, 31/40 of revenue village Nagrcem
Palolem and that the entire property “QUINDELIBAGA alies RAJABAGA” is bounded on the East by the
property Pimplibaga of Bicane Naique or heirs of Siva Naique, property
Ponducabaga paddy field of Custam Sanguy Naique and others, On the West with
Arabian Sea (Mar Alto), On the North with rivulet and Top of the hillock by
name Quindolle Dongor till the old limit and on the South with navigable river,
existing in this property cultivation of Coconut trees, Cashew trees, Mango
trees etc and paddy described in the land registration office (Conservatoria do
Registo Predial) of Quepem under No. 4183 of Book B-13 and enrolled in the
Matriz under Nos. 815, 816, 813 and 817.
In the above described property there is a hotel
building under construction by virtue of construction licence bearing No.
CMC/Tech-Sec/ Const/ 2007-08/ 1196 dated 07.01.2008, along with the approved
plans all issued by Canacona Municipal Council at Canacona – Goa and issued in
the name of the applicant of the applicant, for the construction of a proposed
hotel building in the said property.
The above described immovable property being a
duly subdivided plots of land, bearing plot Nos. A-3, A-4, A-5, A-10, A-11 and
A-12 of the bigger property commonly known as “QUINDELILBAGA” alias “RAJABAGA”
situated in village Nagorcem – Palolem, Cnacona Goa, alongwith the hotel
building under construction therein is hereinafter referred to as the “SAID
PROEPERTY” for the sake of brevity.
DESCRIPTION OF THE
DOCUMENTS SCRUTINISED
|
Date of Document |
Name of Document |
Whether Original/ Certified/Xerox |
|
20.08.1969 |
Deed of sale, duly registered in the office
of Sub-registrar of Salcete at Margao Goa by virtue of which Mr. Keshav Sinai
Kunde and others purchased an immovable property known as “QUINDELJBAGA”
alias RAJABAGA” situated in village Nagorcem Palolem, Canacona- Goa |
Original verified Xerox copy annexed
herewith after verifying with the original |
|
This document is a Deed of sale dated
20.08.1969, duly registered in the office of sub-registrar of Salcete at
Margao Goa by virtue of which Mr. Keshav Sinai Kunde and others purchased an
immovable property known as “QUINDELIBAGA alias RAJABAGA” situated in village
Nagorcem – Palolem, Canacona- Goa |
||
|
|
||
|
06.03.1998 |
Deed of sale, duly registered in the office
of sub-registrar of Canacona at Canacona Goa, by virutue of which Shri Keshav
Sinai Kunde and others sold to Shri Pradeep Gopal Prabhudesai a duly
sub-divided plot of the said property bearing plot Nos. A-4 and A-5, together
admeasuring an area of 605 square metgers and surveyed under survey No. 30/2
of revenue village Nagorcem- Palolem, Canacona Goa |
Original Records verified Xerox copy annexed
herewith after verifying with the original |
|
This document is a Deed of sale dated
06.03.1998, duly registered in the office of sub-registrar of Canacona at
Canacona Goa, by virtue of which virtue of which Shri Keshav Sinai Kunde and
others sold to Shri Pradeep Gopal Prabhudesai a duly sub-divided plot of the
said property bearing plot nos. A-4 and A-5, together admeasuring an area of
605 squares meters and surveyed under survey No. 30/2 of revenue village
Nargorcem – Palolem, Canacona Goa |
||
|
|
||
|
20.02.1998 |
Deed of Sale, duly registered in the office
of sub-registrar of Canacona at Canacona Goa, by virtue of which Shri Keshav Sinai
Kunde and others sold to Shri Pradeep Gopal Prabhudesai a duly sub-divided
plot Nos. A-3 and A-12, together admeasuring an area of 615 squares meters
and surveyed under survey Nos. 31/1 (Part_, 31/40 (Part) and 30/2 (Part) of
revenue village Nagorcem Palolem, Canacona Goa. |
Original Records verified Xerox copy annexed
herewith after verifying with the original |
|
This document is a Deed of sale dated
20.02.1998. duly registered in the office of Sub-registrar of Canacona at
Canacona Goa, by virtue of which Shri Keshav Sinai Kunde and others sold to
Shri Pradeep Gopal Prabhudesai a duly sub-divided plots of the said property
bearing plot Nos. A-3 and A-12, together admeasuring an area of 615 square
and surveyed under survey Nos. 31/1 (Part), 31/40 (Part) and 30/2 (part) of
revenue village Nagorcem- Palolcm, Canacona Goa |
||
|
|
||
|
25.02.2000 |
Deed of sale, duly registered in the office
of sub-registrar of Canacona at Canacona Goa, by virtue which Smt. Anusssuia Keshav
Kunde and others sold to Shri Pradeep Gopal Prabhudesai a duly sub-divided
plot No. A-11, admeasuring an area of 270 square meters and surveyed under
survey No. 30/2 of |
Original Records verified Xerox copy annexed
herewith after verifying with the original |
|
This document is a Deed of sale dated
25.02.2000 duly registered in the office of Sub-registered of Canacona at
Cnacona Goa, by virtue of which Smt. Anussuia Kunde and others sold to Shri
Pradeep Gopal Prabhudesai a duly sub-divided plot of the said property
bearing plot No. A-11 admeasuring an area of 270 sq meters and surveyed under
survey No. 30/2 of revenue village Nagorcem – Palolcm, Canacona Goa |
||
CERTIFICATE
This is to certify that Net-worth Statement of
Mr. Anant Prabhudesai Resident of Sheller, Canacona- Goa, Director of
Prabudesai Hotesl and Resorts Private Limited
|
Particulars |
Amount (Rs. In
Millions) |
|
LANDED PROPERTY |
|
|
Landed Property and Residential House |
3.000 |
|
Capital In Business |
|
|
Taradeep Enterprises (Partner) |
0.571 |
|
Fixed Deposits and Investments |
0.250 |
|
Jewellery |
0.200 |
|
NET WORTH |
4.021 |
CERTIFICATE
This is to certify that Net-worth Statement of
Mrs. Pratibha Pradeep Prabhudesai Resident of Sheller, Canacona- Goa, Director
of Prabudesai Hotesl and Resorts Private Limited
|
Particulars |
Amount (Rs. In
Millions) |
|
LANDED PROPERTY |
|
|
Plot at Shelter 5550 sq,mt @ Rs. 1.500/- |
8.325 |
|
Plot at Shelter 1750 sq.mt @ Rs. 1500/- |
2.625 |
|
Plot at |
6.808 |
|
Share of Ancestral Property Loliem |
2.400 |
|
Residential House at Sheller (Including Plot are 1500 sq.m) |
6.000 |
|
Total |
26.158 |
|
LESS: LIABILITIES |
|
|
Housing Loan |
2.490 |
|
Personal Loan |
1.000 |
|
|
3.490 |
|
|
22.668 |
|
Half Belongs to Other Spouse |
11.334 |
|
|
|
|
Capital In Business |
|
|
Taradeep Enterprises (Partner) |
0.424 |
|
Fixed Deposits and Investments |
0.125 |
|
Jewellery |
0.500 |
|
NET WORTH |
12.383 |
CERTIFICATE
This is to certify that Net-worth Statement of
Mr. Pradeep Prabhudesai Resident of Sheller, Canacona- Goa, Director of
Prabudesai Hotesl and Resorts Private Limited
|
Particulars |
Amount (Rs. In
Millions) |
|
LANDED PROPERTY |
|
|
Plot at Shelter 5550 sq,mt @ Rs. 1.500/- |
8.325 |
|
Plot at Shelter 1750 sq.mt @ Rs. 1500/- |
2.625 |
|
Plot at |
6.808 |
|
Share of Ancestral Property Loliem |
2.400 |
|
Residential House at Sheller (Including Plot are 1500 sq.m) |
6.000 |
|
Total |
26.158 |
|
LESS: LIABILITIES |
|
|
Housing Loan |
2.490 |
|
Personal Loan |
1.000 |
|
|
3.490 |
|
|
22.668 |
|
Half Belongs to Other Spouse |
11.334 |
|
|
|
|
Capital In Business |
|
|
Prabhudesai Gas Services (Prop) |
2.891 |
|
Vaishnavi Dvlopers (Prop) |
0.879 |
|
Taradeep Enterprises (Partner) |
0.664 |
|
Fixed Deposits and Invetments |
0.125 |
|
NET WORTH |
15.893 |
PRICING FOR MANUAL
DOOR ELEVATOR
|
BRIEF SPECIFICATION |
Unit Price (Rs. In
Millions) |
Quantity |
Total Price (Rs. In
Millions) |
|
Passenger Elevator SWIFT Elevator/ 06 Pass 0.63 m/s, V3F Drive 04 stops, 04 Landings,
Travel 10 mtrs, With FMBC doors in car and M S Swing gates at all landings |
0.663 |
01 |
0.663 |
PRABHUDEDSAI GAS SERVICES
(Associate and
Subsidiaries)
BALANCE SHEET
( RS. In Millions)
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.093 |
2.859 |
2.580 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.093 |
2.859 |
2.580 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.905 |
0.981 |
1.390 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.905 |
0.981 |
1.390 |
|
|
DEFERRED TAX LIABILITIES |
0.108 |
0.097 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4.106 |
3.937 |
3.970 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.098 |
1.496 |
1.339 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.105 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.589 |
0.715 |
0.689 |
|
|
Sundry Debtors |
0.294 |
0.162 |
0.301 |
|
|
Cash & Bank Balances |
0.122 |
0.152 |
0.072 |
|
|
Other Current Assets |
1.510 |
1.105 |
1.225 |
|
|
Loans & Advances |
0.365 |
0.365 |
0.365 |
|
Total
Current Assets |
2.880
|
2.499 |
2.652 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
0.977 |
0.058 |
0.021 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
0.977
|
0.058 |
0.021 |
|
|
Net Current Assets |
1.903
|
2.441 |
2.631 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4.106 |
3.937 |
3.970 |
|
PROFIT & LOSS
ACCOUNT
(Rs. In Millions)
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
26.424 |
25.662 |
19.802 |
|
|
Other Income |
0.029 |
0.017 |
1.274 |
|
|
Total Income |
26.453 |
25.679 |
21.076 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
0.514 |
0.499 |
0.432 |
|
|
Provision for Taxation |
0.000 |
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
0.514 |
0.499 |
0.432 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
24.355 |
23.603 |
19.203 |
|
|
Printing and Stationery |
0.021 |
0.013 |
0.007 |
|
|
Salaries, Wages, Bonus, etc. |
0.441 |
0.367 |
0.347 |
|
|
Interest |
0.110 |
0.141 |
0.141 |
|
|
Insurance Expenses |
0.036 |
0.085 |
0.069 |
|
|
Depreciation & Amortization |
0.267 |
0.289 |
0.248 |
|
|
Other Expenditure |
0.709 |
0.682 |
0.629 |
|
Total Expenditure |
25.939 |
25.180 |
20.644 |
|
VAISHNAVI DEVELOPERS
(Associate and
Subsidiaries)
BALANCE SHEET
( RS. In Millions)
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.405 |
0.879 |
0.341 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.405 |
0.879 |
0.341 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.024 |
0.292 |
0.925 |
|
|
2] Unsecured Loans |
2.621 |
1.706 |
1.826 |
|
|
TOTAL BORROWING |
4.645 |
1.998 |
2.751 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
2.250 |
|
|
|
|
|
|
|
|
TOTAL |
6.050 |
2.877 |
5.342 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.791 |
2.490 |
0.810 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
Additional |
0.000 |
0.000 |
0.930 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.105 |
0.307 |
0.307 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.116 |
0.000 |
3.220 |
|
|
Sundry Debtors |
0.000 |
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.037 |
0.048 |
0.080 |
|
|
Other Current Assets |
0.040 |
0.040 |
0.000 |
|
|
Loans & Advances |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2.193
|
0.088 |
3.300 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
0.039 |
0.008 |
0.005 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
0.039
|
0.008 |
0.005 |
|
|
Net Current Assets |
2.154
|
0.080 |
3.295 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6.050 |
2.877 |
5.342 |
|
PROFIT & LOSS
ACCOUNT
(Rs. In Millions)
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
2.060 |
1.230 |
2.041 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income |
2.060 |
1.230 |
2.041 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
0.526 |
0.538 |
0.241 |
|
|
Provision for Taxation |
0.000 |
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
0.526 |
0.538 |
0.241 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
1.154 |
0.427 |
1.417 |
|
|
Printing and Stationery |
0.002 |
0.001 |
0.000 |
|
|
Salaries, Wages, Bonus, etc. |
0.032 |
0.024 |
0.024 |
|
|
Interest |
0.239 |
0.137 |
0.083 |
|
|
Advertisement |
0.003 |
0.003 |
0.008 |
|
|
Depreciation & Amortization |
0.000 |
0.000 |
0.000 |
|
|
Other Expenditure |
0.104 |
0.100 |
0.268 |
|
Total Expenditure |
1.534 |
0.693 |
1.800 |
|
TARADEEP ENTERPRISES
(Associate and
Subsidiaries)
BALANCE SHEET
( RS. In Millions)
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.411 |
0.424 |
0.443 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
0.411 |
0.424 |
0.443 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.473 |
0.329 |
0.236 |
|
|
2] Unsecured Loans |
1.213 |
1.235 |
1.202 |
|
|
TOTAL BORROWING |
1.686 |
1.564 |
1.438 |
|
|
DEFERRED TAX LIABILITIES |
0.066 |
0.097 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2.163 |
2.085 |
1.881 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.299 |
0.359 |
0.433 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.140 |
0.140 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.900 |
1.510 |
1.406 |
|
|
Sundry Debtors |
0.087 |
0.133 |
0.000 |
|
|
Cash & Bank Balances |
0.060 |
0.031 |
0.015 |
|
|
Other Current Assets |
0.965 |
0.441 |
0.441 |
|
|
Loans & Advances |
0.263 |
0.016 |
0.018 |
|
Total
Current Assets |
2.275
|
2.131 |
1.880 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
0.551 |
0.543 |
0.432 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
0.551
|
0.543 |
0.432 |
|
|
Net Current Assets |
1.724
|
1.586 |
1.448 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2.163 |
2.085 |
1.881 |
|
PROFIT & LOSS
ACCOUNT
(Rs. In Millions)
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
7.526 |
6.386 |
6.283 |
|
|
Other Income |
0.071 |
0.078 |
0.058 |
|
|
Total Income |
7.597 |
6.464 |
6.341 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
0.330 |
0.276 |
0.272 |
|
|
Provision for Taxation |
0.00 |
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
0.330 |
0.276 |
0.272 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
6.803 |
5.748 |
5.617 |
|
|
Printing and Stationery |
0.002 |
0.003 |
0.009 |
|
|
Salaries, Wages, Bonus, etc. |
0.112 |
0.095 |
0.078 |
|
|
Interest |
0.019 |
0.023 |
0.022 |
|
|
Advertisement |
0.004 |
0.002 |
0.001 |
|
|
Depreciation & Amortization |
0.060 |
0.074 |
0.090 |
|
|
Other Expenditure |
0.267 |
0.173 |
0.252 |
|
Total Expenditure |
7.267 |
6.118 |
6.069 |
|
GOPESH TRADERS
(Associate and
Subsidiaries)
BALANCE SHEET
( RS. In Millions)
|
SOURCES OF FUNDS |
|
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
2.044 |
1.978 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
2.044 |
1.978 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.389 |
0.496 |
|
|
2] Unsecured Loans |
|
0.000 |
0.109 |
|
|
TOTAL BORROWING |
|
0.389 |
0.605 |
|
|
DEFERRED TAX LIABILITIES |
|
0.326 |
0.286 |
|
|
|
|
|
|
|
|
TOTAL |
|
2.759 |
2.869 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.892 |
0.977 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.732 |
0.985 |
|
|
Sundry Debtors |
|
2.194 |
2.032 |
|
|
Cash & Bank Balances |
|
0.089 |
0.076 |
|
|
Other Current Assets |
|
0.160 |
0.160 |
|
|
Loans & Advances |
|
0.410 |
0.210 |
|
Total
Current Assets |
|
3.585 |
3.463 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
1.718 |
1.571 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
1.718 |
1.571 |
|
|
Net Current Assets |
|
1.867 |
1.892 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
2.279 |
2.869 |
|
PROFIT & LOSS
ACCOUNT
(Rs. In Millions)
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
|
|
Sales Turnover |
|
11.375 |
11.264 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
Total Income |
|
11.375 |
11.264 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
0.498 |
0.451 |
|
|
Provision for Taxation |
|
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
0.498 |
0.451 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
|
9.952 |
9.955 |
|
|
Printing and Stationery |
|
0.015 |
0.006 |
|
|
Salaries, Wages, Bonus, etc. |
|
0.184 |
0.144 |
|
|
Interest |
|
0.018 |
0.054 |
|
|
Advertisement |
|
0.010 |
0.003 |
|
|
Depreciation & Amortization |
|
0.085 |
0.079 |
|
|
Other Expenditure |
|
0.613 |
0.572 |
|
Total Expenditure |
|
10.877 |
10.813 |
|
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.49.74 |
|
|
1 |
Rs.74.37 |
|
Euro |
1 |
Rs.62.78 |
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 |
|