MIRA
INFORM REPORT
|
Report Date : |
26.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
DHANLAXMI |
|
|
|
|
Registered
Office : |
Viram Asha House, Paras Society, Panchvati, |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
15.11.2010 |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
|
|
|
|
Line of Business
: |
Business of Hotels, Motels, Restaurant and Allied Activities. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
New Concern |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new concern and the project is under implementation. The
valuation report provided is of a lesser value than the proposal amount. The networth
statement however seems to be acceptable. No further details or payments
could be made available. It would be advisable to take adequate securities while dealing with
the subject. |
NOTES:
Any query related to this report can be made on
e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Pabubha V. Manek |
|
Designation : |
Partner |
|
Date : |
23.04.2011 |
LOCATIONS
|
Registered Office : |
Viram Asha House, Paras Society, Panchvati, |
|
Tel. No.: |
91-288-2552223 |
|
Location : |
Owned |
|
|
|
|
Factory : |
City Survey No.3941, 3943 and 3944, Sheet No.29, Dwarka, District |
PARTNERS
|
Name : |
Mr. Pabubha V. Manek |
|
Designation : |
Partner |
|
Date of Birth/Age : |
02.07.1956 |
|
PAN No.: |
AARPM7152Q |
|
|
|
|
Name : |
Mrs. Nathiben B. Bathia |
|
Designation : |
Partner |
|
Date of Birth/Age : |
56 years |
|
|
|
|
Name : |
Mr. Harisingh B. Bathia |
|
Designation : |
Partner |
|
Date of Birth/Age : |
27 years |
|
|
|
|
Name : |
Mr. Ramesh B. Bathia |
|
Designation : |
Partner |
|
Date of Birth/Age : |
05.03.1985 |
|
PAN No.: |
ANMPB1914F |
BUSINESS DETAILS
|
Line of Business : |
Business of Hotels, Motels, Restaurant and Allied Activities. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
Cash |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s |
|
|
|
|
No. of Employees : |
10 (Approximately) |
|
|
|
|
Bankers : |
· Bank of India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
|
|
|
|
Associates : |
· Indian Roadlines Address: Activity: Stevedoring, Cargo Handling, Transportation, Builder and Land Developer. Bank: Bank of PAN No.: AARPM7152Q |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Available |
|
Borrowed : |
Not Available |
|
Total : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW CONCERN
LOCAL AGENCY FURTHER INFORMATION
COST OF PROJECT
(Rs.
In millions)
|
Particulars |
Amount |
|
|
|
|
Land |
2.500 |
|
|
14.000 |
|
Plant and
Equipment |
8.000 |
|
Contingency |
0.500 |
|
|
|
|
Total |
25.000 |
MEANS OF FINANCE
(Rs.
In millions)
|
Particulars |
Amount |
|
|
|
|
Partners Capital |
5.000 |
|
Unsecured Loan |
5.000 |
|
Term Loan |
15.000 |
|
|
|
|
Total |
25.000 |
PROJECTED PROFITABILITY STATEMENT
(RS.
IN MILLIONS)
|
Particulars
|
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|
|
|
|
|
|
|
|
Earning from Room Rent |
5.395 |
11.771 |
11.771 |
12.752 |
12.752 |
|
Income From Conference Hall |
0.119 |
0.237 |
0.356 |
0.383 |
0.383 |
|
Restaurant Income |
0.602 |
1.402 |
1.402 |
1.614 |
1.862 |
|
|
|
|
|
|
|
|
Total
|
6.116 |
13.410 |
13.529 |
14.749 |
14.997 |
|
|
|
|
|
|
|
|
Expenditure
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative
and Running Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
Salary to Staff |
0.657 |
1.380 |
1.449 |
1.521 |
1.597 |
|
Remuneration to Partners |
0.200 |
0.400 |
0.400 |
0.500 |
0.500 |
|
Consumable/ Hotel Utility |
0.060 |
0.150 |
0.188 |
0.216 |
0.248 |
|
Food/ Provisions |
0.241 |
0.561 |
0.561 |
0.645 |
0.745 |
|
Maintenance |
0.880 |
1.320 |
1.320 |
1.320 |
1.980 |
|
Electricity |
0.300 |
0.690 |
0.759 |
0.835 |
0.918 |
|
General Administrative expenses |
0.200 |
0.220 |
0.242 |
0.266 |
0.293 |
|
Interests on Partner Capital |
0.360 |
0.600 |
0.600 |
0.600 |
0.600 |
|
|
|
|
|
|
|
|
Total
Expenditures |
2.898 |
5.321 |
5.519 |
5.903 |
6.881 |
|
|
|
|
|
|
|
|
Profit
Before Interests and Depreciation |
3.218 |
8.090 |
8.011 |
8.846 |
8.116 |
|
|
|
|
|
|
|
|
Bank Interests |
0.975 |
1.774 |
1.449 |
1.124 |
0.799 |
|
Depreciation |
1.300 |
2.440 |
2.141 |
1.879 |
1.652 |
|
|
|
|
|
|
|
|
Profit
before Tax |
0.943 |
3.876 |
4.421 |
5.843 |
5.665 |
|
|
|
|
|
|
|
|
Provision for Income tax |
0.283 |
1.163 |
1.326 |
1.753 |
1.700 |
|
|
|
|
|
|
|
|
Net
Profit/ (Loss) for the year |
0.660 |
3.373 |
6.468 |
10.558 |
14.523 |
|
|
|
|
|
|
|
|
Profit
for the year |
0.660 |
3.373 |
6.468 |
10.558 |
14.523 |
|
|
|
|
|
|
|
|
Add: Balance and P and L Account |
0.000 |
0.660 |
3.373 |
6.468 |
10.558 |
|
|
|
|
|
|
|
|
Profit
transfer to Balance sheet |
0.660 |
3.373 |
6.468 |
10.558 |
14.523 |
|
|
|
|
|
|
|
|
N. P. Ratio |
10.79 |
20.23 |
22.87 |
27.73 |
26.44 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED BALANCE SHEET
(RS. IN MILLIONS)
|
Particulars
|
Pre-Operative Year |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|
|
|
|
|
|
|
|
|
Share Capital / Reserve |
3.812 |
5.660 |
8.373 |
11.468 |
15.558 |
19.523 |
|
|
|
|
|
|
|
|
|
Bank term Loan |
6.000 |
15.000 |
12.500 |
10.000 |
7.500 |
5.000 |
|
|
|
|
|
|
|
|
|
Unsecured Loan |
3.000 |
4.500 |
4.000 |
3.5000 |
3.500 |
2.500 |
|
|
|
|
|
|
|
|
|
Total
Sources |
12.812 |
25.160 |
24.873 |
24.968 |
26.558 |
27.023 |
|
|
|
|
|
|
|
|
|
APPLICANT
OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed
Assets (Net Block) |
11.950 |
20.700 |
18.260 |
16.119 |
14.240 |
12.588 |
|
|
|
|
|
|
|
|
|
Current
Assets |
|
|
|
|
|
|
|
- Cash
and Bank Balance |
0.050 |
4.919 |
6.872 |
8.447 |
10.972 |
11.883 |
|
-
Inventory |
0.000 |
0.000 |
0.637 |
1.056 |
1.429 |
1.883 |
|
-
Other Current Assets |
0.812 |
1.024 |
1.247 |
1.437 |
1.931 |
2.437 |
|
Total
Current Assets |
0.862 |
5.943 |
8.756 |
10.940 |
14.332 |
16.203 |
|
|
|
|
|
|
|
|
|
Current
Liabilities and Provision |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Liabilities |
0.000 |
1.200 |
0.980 |
0.764 |
0.260 |
0.067 |
|
Provision for Tax |
0.000 |
0.283 |
1.163 |
1.326 |
1.753 |
1.700 |
|
|
|
|
|
|
|
|
|
Total
Current Liability |
0.000 |
1.483 |
2.143 |
2.090 |
2.013 |
1.767 |
|
|
|
|
|
|
|
|
|
Net
Current Assets |
0.862 |
4.460 |
6.613 |
8.850 |
12.319 |
14.436 |
|
|
|
|
|
|
|
|
|
Total
Application |
12.812 |
25.160 |
24.873 |
24.968 |
26.558 |
27.023 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED CASH FLOW STATEMENT
(RS.
IN MILLIONS)
|
Particulars
|
Pre-Operative Year |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|
|
|
|
|
|
|
|
|
SOURCES
OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash accruals from operations |
|
|
|
|
|
|
|
Net profit for the year |
0.000 |
0.660 |
2.713 |
3.095 |
4.090 |
3.966 |
|
Depreciation |
0.000 |
1.300 |
2.440 |
2.141 |
1.879 |
1.652 |
|
|
|
|
|
|
|
|
|
Total |
0.000 |
1.960 |
5.153 |
5.236 |
5.969 |
5.618 |
|
|
|
|
|
|
|
|
|
Bank Term Loan |
6.000 |
9.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Own fund/ Increase in Capital |
3.812 |
1.188 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Working Capital Assistance |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
3.000 |
2.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in current Liabilities |
0.000 |
1.483 |
0.660 |
(0.052) |
0.000 |
(0.246) |
|
|
|
|
|
|
|
|
|
Total
Sources |
12.812 |
15.631 |
5.813 |
5.183 |
5.969 |
5.371 |
|
|
|
|
|
|
|
|
|
DISPOSITION
OF FUNDS |
|
|
|
|
|
|
|
Increase in Capital assets |
11.950 |
10.050 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Closing Stock |
0.000 |
0.000 |
0.637 |
0.419 |
0.373 |
0.454 |
|
Increase in Other Current Assets |
0.812 |
0.212 |
0.223 |
0.190 |
0.494 |
0.506 |
|
Decrease in current Liability |
0.000 |
0.000 |
0.000 |
0.000 |
0.077 |
0.000 |
|
Repayment of Bank Loan |
0.000 |
0.000 |
2.500 |
2.500 |
2.500 |
2.500 |
|
Decrease in Unsecured Loans |
0.000 |
0.500 |
0.500 |
0.500 |
0.000 |
1.000 |
|
|
|
|
|
|
|
|
|
Total
Disposition |
12.762 |
10.762 |
3.860 |
3.609 |
3.444 |
4.460 |
|
|
|
|
|
|
|
|
|
Cash
and Bank Balance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Opening Balance |
0.000 |
0.050 |
4.919 |
6.872 |
8.447 |
10.972 |
|
|
|
|
|
|
|
|
|
Net Increase/ (Decrease) |
0.050 |
4.869 |
1.953 |
1.574 |
2.524 |
0.911 |
|
|
|
|
|
|
|
|
|
Closing Balance |
0.050 |
4.919 |
6.872 |
8.447 |
10.972 |
11.883 |
------------------------------------------------------------------------------------------------------------------------------
DEBT SERVICES COVERAGE RATIO
(RS.
IN MILLIONS)
|
Particulars
|
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|
|
|
|
|
|
|
|
Net Cash accrual |
5.813 |
5.183 |
5.969 |
5.371 |
5.413 |
|
|
|
|
|
|
|
|
Interests on Term Loans |
1.774 |
1.449 |
1.124 |
0.799 |
0.474 |
|
|
|
|
|
|
|
|
Repayment of Term Loans |
2.500 |
2.500 |
2.500 |
2.500 |
2.500 |
|
|
|
|
|
|
|
|
DSCR
|
1.78 |
1.68 |
1.96 |
1.87 |
1.98 |
|
|
|
|
|
|
|
|
Composite
DSCR |
1.90 |
|
|
|
|
------------------------------------------------------------------------------------------------------------------------------
INDIAN ROADLINES
(ASSOCIATES
COMPANY)
PROPRIETOR:
MR. PABUBHA VIRAMBHA MANEK
BALANCE
SHEET
(RS.
IN MILLIONS)
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
51.576 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
51.576 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
153.969 |
|
|
2] Unsecured Loans |
|
|
24.457 |
|
|
TOTAL BORROWING |
|
|
178.426 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
230.002 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
91.522 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
25.739 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
58.498 |
|
|
Cash & Bank Balances |
|
|
4.974 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
83.384 |
|
Total
Current Assets |
|
|
146.856 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
34.115 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
34.115 |
|
|
Net Current Assets |
|
|
112.741 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
230.002 |
|
PROFIT & LOSS
ACCOUNT
(RS. IN MILLIONS)
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
142.474 |
|
|
|
Other Income |
|
|
9.417 |
|
|
|
TOTAL (A) |
|
|
151.891 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Direct Expenses |
|
|
85.042 |
|
|
|
Administrative Expenses |
|
|
31.780 |
|
|
|
TOTAL (B) |
|
|
116.822 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
35.069 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
35.069 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
23.549 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT (E-F) (G) |
|
|
11.520 |
|
------------------------------------------------------------------------------------------------------------------------------
MR. PABUBHA V. MANEK
BALANCE
SHEET
(RS.
IN MILLIONS)
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
69.670 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
69.670 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
52.193 |
|
|
2] Unsecured Loans |
|
|
0.400 |
|
|
TOTAL BORROWING |
|
|
52.593 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
122.263 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.761 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
99.350 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
2.415 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
26.601 |
|
Total
Current Assets |
|
|
29.016 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
|
|
|
Other Current Liabilities |
|
|
7.864 |
|
|
Provisions |
|
|
|
|
Total
Current Liabilities |
|
|
7.864 |
|
|
Net Current Assets |
|
|
21.152 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
122.263 |
|
------------------------------------------------------------------------------------------------------------------------------
MR. RAMESH B. BATHIA
BALANCE
SHEET
(RS.
IN MILLIONS)
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.550 |
0.310 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
0.550 |
0.310 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.550 |
0.310 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.000 |
0.000 |
|
|
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 |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
0.066 |
0.284 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.484 |
0.026 |
|
Total
Current Assets |
|
0.550 |
0.310 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
0.000 |
0.000 |
|
|
Net Current Assets |
|
0.550 |
0.310 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.550 |
0.310 |
|
PROFIT & LOSS
ACCOUNT
(RS. IN MILLIONS)
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
3.315 |
0.144 |
|
|
|
Other Income |
|
0.000 |
0.001 |
|
|
|
TOTAL |
|
3.315 |
0.145 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Labour and Other Expenses |
|
2.542 |
|
|
|
|
Labour Conveyance Expenses |
|
0.035 |
|
|
|
|
Labour Loading Boarding |
|
0.247 |
|
|
|
|
Loader Expenses |
|
0.140 |
0.000 |
|
|
|
Miscellaneous Expenses |
|
0.015 |
|
|
|
|
Printing and Stationery |
|
0.004 |
|
|
|
|
Tea Coffee Expenses |
|
0.012 |
|
|
|
|
Traveling Expenses |
|
0.008 |
|
|
|
|
TOTAL |
|
3.003 |
0.000 |
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
0.312 |
0.145 |
|
MR. HARISINGH B. BATHIA
BALANCE
SHEET
(RS.
IN MILLIONS)
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.803 |
0.721 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
0.803 |
0.721 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.803 |
0.721 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.319 |
0.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.188 |
0.185 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
0.233 |
0.494 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.068 |
0.045 |
|
Total
Current Assets |
|
0.301 |
0.539 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
0.005 |
0.003 |
|
|
Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
0.005 |
0.003 |
|
|
Net Current Assets |
|
0.296 |
0.536 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.803 |
0.721 |
|
PROFIT & LOSS
ACCOUNT
(RS. IN MILLIONS)
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
2.083 |
3.944 |
|
|
|
Other Income |
|
0.032 |
0.054 |
|
|
|
TOTAL |
|
2.115 |
3.998 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Coal Handling Work Expenses |
|
1.456 |
3.128 |
|
|
|
Legal Fees |
|
0.003 |
0.003 |
|
|
|
Miscellaneous Expenses |
|
0.010 |
0.007 |
|
|
|
Office Expenses |
|
0.019 |
0.019 |
|
|
|
Site Expenses |
|
0.035 |
0.065 |
|
|
|
Site Supervisor Salary |
|
0.216 |
0.288 |
|
|
|
Staff Salary Office |
|
0.108 |
0.108 |
|
|
|
Telephone Expenses |
|
0.011 |
0.011 |
|
|
|
Traveling Expenses |
|
0.025 |
0.021 |
|
|
|
TOTAL |
|
1.883 |
3.650 |
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
0.232 |
0.348 |
|
------------------------------------------------------------------------------------------------------------------------------
INTRODUCTION
OF LOCATION
The proposed project is for establishing a Luxurious Hotel in Dwarka; the
world famous ancient town of
A state highway with
Dwarka, as we all know, one of the
INTRODUCTION OF
THE PROJECT
They are planning to build a Luxurious Hotel “Hotel Rukshmani” to serve
visitors of Dwarka. The proposed hotel will have total 35 well furnished rooms
in four floor building. Out of which, 5 are “Royal Suit (Ad”, 10 are “Super
Deluxe Room (AC)” and 20 are Deluxe Room (AC). All the premium facilities would
be available in rooms for comfortable living.
Besides lodging facility the hotel would have following more attraction
for the visitors:
·
Beautiful
· Open Sun Decks
· Beach View
· Travel Desk
· Doctor at call
· Dwarika Darshan Luxurious Bus Facility
Restaurant Facility and Conference Room : -
The hotel would also
have Pure Vegetarian restaurant facility for all the guest as well as outside
public serving of variety of cuisine made by specialized chef would add more
attraction for the visitors. It would have A.C. dinning hail of accommodating
40 people together at a time.
They also plan to
develop more facility such as Conference Room, Gymnasium etc. with the passage
of time.
BRIEF INTRODUCTION OF FIRM AND PARTNERS:
The “Hotel Rukshmani”
at Dwarka would be owned by the “Dhanlaxmi Ekiterprise” a Partnership Firm. The
Firm is formed on 15th of November 2010. The main object of the Firm is to
carry on the business of Hotels, Motels, Restaurant and all allied activities.
The registered office of the firm is at
Partners of the firm
are having rich business experience and affluent contacts which will be very
useful to run a Hotel. They together would be sharing their own experience for
effectual management the Hotel.
Following are the partners of the firm:
· Mr. Pabubha V. Manek aged about 54 years is the Key person residing at Okha. He is fond of new ventures. He will pour his rich experience in the Partnership Firm for thriving outcome of the Venture.
· Mr. Harisinh Bhimabha Bathia aged about 27yars residing at Okha. At this age he earned a good experience to manage the business effectively.
· Mr. Ramesh Bhimabha Bathia aged about 2 years residing at Okha. He is very enthusiastic and techno savvy. He will look after day to day management of the Hotel.
· Mrs. Nathiben Bhirnabha Bthia: - aged about of 56 residing at Okha.
KEY PERSONNEL
The day to day
operation of Hotel will be handled by Mr. Paresh Hathal. He has done Diploma in
Hotel Management form Jindal School of Hotel Management. He is very young and
dynamic per fltyif1ia hotel management skill.
PRESENT STATUS OF THE PROJECT
The Firm has already acquired 3970.72 sq. feet of land on 03.02.2010 in
the Partners name. The location of Land is near Sea shore. The Firm is going to
participate in the Global Summit of Government of Gujarat for setting a Hotel
in Dwarka at the approximate cost of About Rs.25.000 Millions. The Firm will
also going to apply for SSI Registration with District Industrial Commissioner.
It has also appointed a very well known Architect “Habitat” from
Ahmedabad for architecture, interior design and overall supervision of the
proposed hotel building. The Architect has prepared the plan and the total
construction of the hotel will be approximately 20000 Sq. feet as per Plan.
Construction work has already been started and first slab has been cast
and construction will be completed by the end of September 2011.
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
NAME OF THE
APPLICANT: MR. RAMESH B. BATHIA
NAME OF THE
GUARANTOR: MRS. PARMABEN P. MANEK
(RS. IN MILLIONS)
ASSETS
IMMOVABLE
PROPERTIES
|
Particulars |
Applicant |
Guarantor |
|
|
|
|
|
Address of the
Property with survey No./ door No. etc. |
-- |
Various Places |
|
|
|
|
|
Description:
Land/ Site/ Building |
-- |
Land and Building |
|
|
|
|
|
Whether
Freehold/ Leasehold |
-- |
Freehold |
|
|
|
|
|
Type of
Property: Commercial/ Residential/ Agricultural |
-- |
Agricultural and commercial |
|
|
|
|
|
Area/ Extent of
Land |
-- |
Commercial Property 2200 sq. ft. |
|
|
|
|
|
Mortgaged for
Availing loan if any, Details thereof |
-- |
Commercial Property at Centre Mortgaged with Corporation Bank |
|
|
|
|
|
Present Market/
Assessed Value |
-- |
Rs.2.300 Millions Rs.12.000 Millions Total = Rs.14.300 Millions |
DEPOSITS HELD WITH
BANKS/ COMPANIES/ OTHER LENDER ETC.
|
Name of the Bank/ Company where deposits are
held |
State Bank of |
Corporation Bank |
|
|
|
|
|
Date of deposits |
31.03.2010 |
31.03.2010 |
|
|
|
|
|
Nature of Deposits |
Current |
Current |
|
|
|
|
|
Present Value of deposits |
Rs.0.004 Million |
Rs.0.209 Million |
OTHER ASSETS
|
Cash in Hand |
0.061 |
0.054 |
|
|
|
|
|
Jewellery |
0.000 |
0.275 |
|
|
|
|
|
Other assets if any Loans and Advance |
0.484 |
2.411 |
|
|
|
|
|
Total Value of Other assets |
Rs.0.545 Million
|
Rs.2.740
Millions |
|
TOTAL ASSETS |
RS.0.549 MILLION
|
RS.17.249
MILLIONS |
LIABILITIES
(FURNISH LOANS
AVAILED FROM BANKS/ FINANCIAL INSTITUTIONS AND OTHER BORROWINGS)
|
Name of the Banks/ Institution |
-- |
Corporation Bank |
|
|
|
|
|
Amount Outstanding |
-- |
Rs.3.821
Millions |
|
NET WORTH |
RS.0.549 MILLION
|
RS.13.428
MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
NAME OF THE
APPLICANT: MR. PABUBHA V. MANEK
NAME OF THE
APPLICANT: MRS. NATHIBEN B. BATHIA
NAME OF THE
APPLICANT: MR. HARISINH B. BATHIA
(RS. IN MILLIONS)
ASSETS
IMMOVABLE
PROPERTIES
|
Particulars |
Applicant |
Applicant |
Applicant |
|
|
|
|
|
|
Address of the
Property with survey No./ door No. etc. |
Various Place |
-- |
1. Lakhabawal – S. No.256/1 2. Lakhabawal – S. No.256/3 3.Masitia – S. No.30/2 4. Ravalsad – S. No.40 |
|
|
|
|
|
|
Description:
Land/ Site/ Building |
Land and Building |
-- |
Land |
|
|
|
|
|
|
Whether
Freehold/ Leasehold |
Freehold |
-- |
Freehold |
|
|
|
|
|
|
Type of
Property: Commercial/ Residential/ Agricultural |
Commercial Residential Agricultural |
-- |
Agricultural |
|
|
|
|
|
|
Present Market/
Assessed Value |
10.151 11.892 4.704 Total = 26.747 Millions |
-- |
0.052 0.115 0.062 0.090 Total = Rs.0.319 Millions |
INVESTMENT IN
BUSINESS CAPITAL
|
Name of the Company/ firm/ concern in which
investment is made |
Various Firms |
-- |
-- |
|
|
|
|
|
|
Date of Investments |
31.03.2010 |
-- |
-- |
|
|
|
|
|
|
Present Value of Investments |
Rs.60.639 Millions |
-- |
-- |
DEPOSITS HELD WITH
BANKS/ COMPANIES/ OTHER LENDER ETC.
|
Name of the Bank/ Company where deposits are
held |
Various A/c |
-- |
Various A/c |
|
|
|
|
|
|
Date of deposits |
31.03.2010 |
-- |
31.03.2010 |
|
|
|
|
|
|
Nature of Deposits |
Saving |
-- |
Current |
|
|
|
|
|
|
Present Value of deposits |
Rs.1.709 Millions |
-- |
Rs.0.207 Million |
GOVERNMENT
SECURITIES/ NSC/ NSS ETC.
|
Description |
-- |
-- |
Provident Fund |
|
|
|
|
|
|
Face Value |
-- |
-- |
0.038 |
|
|
|
|
|
|
Present Value of Securities |
-- |
-- |
Rs.0.038 Million |
SHARES/
DEBENTURES/ MUTUAL FUNDS/ UNITS ETC.
|
Description |
Various Shares and Bonds |
-- |
-- |
|
|
|
|
|
|
Date of Purchases |
Various Dates |
-- |
-- |
|
|
|
|
|
|
Face Value |
11.964 |
-- |
-- |
|
|
|
|
|
|
Present Value of deposits |
Rs.11.964 Millions |
-- |
-- |
LIFE INSURANCE
POLICIES
|
Policy No. |
-- |
-- |
LIC |
|
|
|
|
|
|
Surrender Value |
-- |
-- |
Rs.0.150 Million |
VEHICLES OWNED
|
Model/ Make |
Hero Pulp -- |
-- |
-- |
|
|
|
|
|
|
Present Market
Value |
Rs.0.016 Million Rs.0.459 Million |
-- |
-- |
OTHER ASSETS
|
Furniture and Fixtures |
1.083 |
0.050 |
-- |
|
|
|
|
|
|
Cash in Hand |
0.706 |
0.040 |
0.026 |
|
|
|
|
|
|
Jewellery |
0.203 |
0.180 |
-- |
|
|
|
|
|
|
Plant and Machinery |
-- |
-- |
-- |
|
|
|
|
|
|
Other assets if any Loans and Advance |
26.601 |
-- |
0.068 |
|
|
|
|
|
|
Total Value of Other assets |
Rs.28.593 Millions |
Rs.0.270 Million |
Rs.0.094 Million
|
|
TOTAL ASSETS |
RS.130.127
MILLIONS |
RS.0.270 MILLION |
RS.0.808 MILLION
|
LIABILITIES
(FURNISH LOANS AVAILED
FROM BANKS/ FINANCIAL INSTITUTIONS AND OTHER BORROWINGS)
|
Name of the Banks/ Institution |
Bank of Bank of ICICI Bank |
-- |
-- |
|
|
|
|
|
|
Nature/ Type of Loan |
Overdraft Overdraft Housing Loan |
-- |
-- |
|
|
|
|
|
|
Security offered if any |
Residential House |
-- |
-- |
|
|
|
|
|
|
Amount Outstanding |
Rs.52.193
Millions |
-- |
-- |
|
NET WORTH |
RS.77.934
MILLIONS |
RS.0.270 MILLION |
RS.0.808 MILLION
|
------------------------------------------------------------------------------------------------------------------------------
TO
WHOM SO EVER IT MAY CONCERN
This is to State that the Hotel on Survey No. 3941, 3943, 3944 at Dwarka
District Jamnagar. Measured 3970.72 sq. ft. which has commenced construction on
September 2010 has reached basement slab level.
The details of which are as follow:
Plot Area: 3970.72 sq. ft.
Cost of Land: Rs.2.500 Millions
COST OF CONSTRUCTION
Total Built up Area: 20000.00 X Rs.600 Per Sq.
ft = Rs.12.000 Millions
Total Interior Cost of Hotel Rooms -35 nos. X
1,50,000.00 = Rs.5.250 Millions
Ceiling, Double Bed, Side Tables, Dressing
Mirror, Coffee Chair and Table Study Table, 3’6” CPBD, Luggage Rack
Includes Hardware Like
A. Mini Fridge 8000.00
B. Flat TV 32” 23000.00
C. Split AC 24000.00
D. Light Fittings 10000.00
E. Coffee Tea Maker 2400.00
F. Curtain 9000.00
Kitchen Hardware are = Rs.1.000 Million
Water Systems
A.) RO Plant
B.) Solar Systems
C.) Pressure Pump
D.) Softening Plant
E.) Laundry Cleaner
Electrical Systems (250 KV Gen set) = Rs.1.200 Million
Ground Floor Interior
(2200.00 sq. ft. x Rs.600.00) = Rs.1.320
Millions
Which include4 Restaurant, Reception,
Conference, Office, Common Waiting
TOTAL COST OF PROJECT
A. Land = Rs.2.500 Millions
B. Building + Interior = Rs.21.970 Millions
TOTAL COST WITH LAND = RS.24.470 MILLIONS
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT
|
Name of Owner |
Mrs. Paramba Pabubha Manek, Janmagar |
|
|
|
|
Name of Bank |
Corporation Bank, |
|
|
|
|
Name of Purchaser |
-- |
|
|
|
|
Address of the Property |
Corporation Bank Limited, |
|
|
|
|
Survey No. |
Sur.No.22-P, Sheet No.2 of Main part -G, New
Sur.No.1708, Sheet No.236, Ward No.10 |
|
|
|
|
Plot No. |
G.F. Shop No.G-26 to G-36, - Total 10 Shops |
|
|
|
|
Date of Valuation |
21/02/2011 |
|
|
|
|
Purpose of Valuation |
Ascertaining Present Market Value. |
|
|
|
|
Brief Description of the Property |
Commercial Bank presently occupied by Corporation
Bank at rent Rs.62,500/- PM, unit shops total 10 units, combined as one bank
unit, admeasuring total super built up area as 316.80 sq. m. - 3410 sq.ft.
Work was carried out as per Corporation Permission No.10202, Dt.06/07/2002
and part completed as per corporation certificate No.3245/2002-2003,
Dt.09/11/2003 and 03/05/2004. |
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Type of Property |
Commercial |
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Occupancy |
Tenants by Corporation Bank |
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Year of Construction |
2002-2003 |
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Surrounding |
ShopNo.27 to 36 |
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East West North South |
Joint Shop No.1-2-3-4 Common Corridor Common Corridor Common Corridor |
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Structure |
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Type of Construction Foundation and Plinth Super Structure Roof Slab Finishing Flooring R.C.C. Work Doors and Windows |
RCC Frame Structure RCC Column and Footing BB Masonry RCC Cement Plaster and Lime Niru Finishing Ceramic Stair, Balcony, Beam, Column Wooden Doors Fully Glazed — Steel Rolling
Shutters Wooden Windows Fully Glazed |
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Services |
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Water Supply Electrification Drainage |
Service Connection — Common Concealed Common |
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Measurements: |
Shop G-27 to G-36 |
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Total Built up area Common area Total Built up area Rent PM |
= 205.70 sq. m. = 110.93 sq. m. = 316.80 sq. m. - 3410.00 sq. ft = 62,500/- |
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Maintenance and Present Condition: Commercial property under reference is about
4 years old. Maintenance of property is quite proper, all major and minor repair
works like white wash, colour wash, plaster and patching work etc. are
carried out regularly, looking to the materials used, workmanship, proper
maintenance, present condition appear quite sound future life may be
estimated as 60 years or more. |
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VALUATION: - (A) Land and Structure Method Combined: Taking into account following few points
regarding land, size and shape of plot, location, situation, development of
all services like wafer supply, drainage, electricity, telephone, road, also taking
into account availability of commercial amenities like market, offices,
hospital etc. in nearby area, also taking into account prevailing market
rates of land in nearby surrounding area etc. Taking into account following few points
regarding structure, mode and type of construction, materials used, size and
shape of room, workmanship, accommodation provided, height of roof slab also
taking into account age and future life of structure and deducting
depreciation accordingly, also taking into account maintenance and present
condition of structure. Summing up all above narrated facts regarding
construction and taking into account prevailing market rate of labour and
building materials, summing up all above narrated facts regarding land and
structure, a rate of subject structure Rs.30,000/- per sq. m. for super built
up area is fair and reasonable in my opinion and same is adopted for
valuation as under: |
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Total Super Built up area |
316.80 sq. m. |
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Super Built up area rate adopted |
Rs.30,000/- per sq. m. |
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Value of Structure |
316.80 sq. m. x Rs.30,000/-per sq. m. = Rs.9.504 Millions (A) |
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(B) Rent capitalization method: As property under reference is on rent with Corporation
Bank, valuation is also carried out by rent capitalization method: |
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Total rental income — P.M. |
78,125/- PM |
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Rental income — P.A. |
9,37,500/- PA |
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Gross income through rent |
9,31,500/- |
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Less: Deduction, shrinking fund,
Maintenance, collected charges @ 20%. |
1,87,500/- |
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Net rental income per annum |
7,50,000/- |
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Capitalization net rental income at 8% |
7,50,000 x 100 ----------------------
8 Rs.9.375 Millions (B) |
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SUMMARY |
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(A) Land and Structure |
Rs.9.504 Millions |
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(B) Rent Capitalization |
Rs.9.375 Millions |
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Forced Cell Value Rs.8.550 Millions |
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VALUATION
REPORT
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Name of Owner |
Mrs. Nathiben Bhimabhai Bathia Mr. Harisinh Bhimabhai Bathia, Okha. |
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Name of Bank |
Corporation Bank, |
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Name of Purchaser |
-- |
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Address of the Property |
Near Ratneshwar Mandir, |
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Survey No. |
City Sur.No.3944, 3943 and 3941, Sheet
No.29, Dwarka |
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Plot No. |
Property No. 1/1226 (1-2) |
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Date of Valuation |
16/ 02/ 2011 |
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Purpose of Valuation |
Ascertaining Present Market Value. |
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Brief Description of the Property |
Under construction Hotel/ Restaurant
property at city Sur. No.3944, 3943 and 3941, Admeasuring Total Land Area as
381.50 sq. m. permission for construction at Dwarika Nagarpalika is awaited.
for total built up area as 1859.50 sq. m. for estimated amount Rs.16.000
Millions. At present foundation work and G.F. RCC work for column, beam and
slab are completed, work for F.F. RCC column is under progress considering
work completed as 20% of total estimated amount. |
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Type of Property |
Commercial |
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Occupancy |
Under Construction |
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Year of Construction |
Under Construction |
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Surrounding |
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East West North South |
Joint Sur.No.3945 and 3940 Joint Sur.No.3946 Joint Sr. No. 3939 |
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Measurements: |
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Total Plot area Total proposed built up area Total Estimated Amount |
= 368.98 sq. m. = 1859.50 sq. m. = 16.000 Millions |
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Valuation Taking into account following few points regarding
land, size and shape of plot, location, situation, type of soil under land,
development of all residential and commercial services Like Water Supply,
Road, Mandir, Electricity, Telephone, also taking into account availability
of all amenities like school, college, hospital, cinema, petrol pump, in
nearby area, summing up all above facts and taking into account the facts
that same plot are located at well developed area Dwarka area nearer to sea,
summing up all above facts a rate of subject Rs.25,000/- per sq. m. is fair
and reasonable in my opinion and same is adopted for valuation as under: |
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368.98 sq. m. |
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Land rate adopted |
Rs.25,000/- per sq. m. |
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Value of Land |
368.98 sq. m. x Rs.25,000/- per sq. m. |
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Total |
Rs.9.225 Millions |
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Forced sell value Rs.8.000 Millions |
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This value of
property is likely to change subject to local condition of market surrounding
components and requirements. |
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Total estimated construction amount |
Rs.16.000 Millions |
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Interior cost of hotel room, ceiling, double
beds, side table, dressing mirror, chair, table, study table, bed, matreeses,
mini freez, split AC. Light fittings etc. Total 34 nos. room X 1,80,000/- |
Rs.6.120 Millions |
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Kitchen Accessories |
Rs.1.000 Million |
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Water system (RO Plants, Solar water -
heaters, Pressure pump, water softing plants, laundry cleanner |
Rs.1.200 Millions |
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Electric system (250 K.V.A, generator set) |
Rs.0.800 Millions |
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Ground floor interior for reception room,
restaurant, and common passage. |
Rs.1.320 Millions |
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Total |
Rs.26.440 Millions |
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A. Land |
Rs.9.225 Millions |
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B. Building and Interior |
Rs.26.440 Millions |
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Total |
Rs.35.665 Millions |
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Present Progress: Construction work for guest house is under
progress, foundation work RCC column and footing and RCC work for column, beam,
stair and slab for cellar and G.F. is completed. Looking to the work
completed and work under progress 20% of total estimated work may be consider
as a completed. Total Estimated Amount — Rs.16.000 Millions 20% of estimated work - 20 x 16000000/-
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100 Present progress work - Rs.3.200 Millions |
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PARTICULARS OF
INDIVIDUAL PARTNERS
(RS. IN MILLIONS)
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Name |
Net Worth as per
Statement |
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Mr. Pabubha Manek |
77.934 |
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Mrs. Nathiben Bathia |
0.270 |
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Mr. Harisingh Bathia |
0.808 |
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Mr. Ramesh Bathia |
0.550 |
DETAILS OF CREDIT
LIMIT(S) SOUGHT
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Nature of
Facility |
Amount |
Purpose |
Repayment |
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Term Loan |
Rs.15.000 Millions |
For Construction of Hotel |
6 years |
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GUARANTOR PROPOSED
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Name of the Guarantor |
Annual income |
Net6 worth as per statement |
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Mrs. Parmaben
Manek |
Rs.0.600 Million |
Rs.13.428
Millions |
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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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.45 |
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1 |
Rs.73.35 |
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Euro |
1 |
Rs.64.78 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.