MIRA
INFORM REPORT
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Report Date : |
27.04.2011 |
IDENTIFICATION DETAILS
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Name : |
G D DEVELOPERS |
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Registered
Office : |
B/ 403, Gayatri Shivam, Near HDFC Bank, 90 Feet Road, Thakur Complex,
Kandivali (East), Mumbai – 400101, Maharashtra |
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Country : |
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Date of
Incorporation : |
01.01.2011 |
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PAN No.: [Permanent Account No.] |
ABWPJ9616L |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business
: |
Construction Activity. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
New Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new concern and yet to establish itself. The
valuation report and networth statement provided seems to be satisfactory. No
further details or payment 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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Anup Kumar Jalan |
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Designation : |
Proprietor |
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Contact No.: |
91-9321111701 |
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Date : |
26.04.2011 |
LOCATIONS
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Registered Office : |
B/ 403, Gayatri Shivam, Near HDFC Bank, 90 Feet Road, Thakur Complex,
Kandivali (East), Mumbai – 400101, Maharashtra, India |
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Mobile No.: |
91-9321111701 (Mr. Anup Kumar Jalan) |
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E-Mail : |
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Area : |
1340 sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Anup Kumar Jalan |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Construction Activity. |
GENERAL INFORMATION
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Bankers : |
· Corporation Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
Not Available |
FINANCIAL DATA
[all figures are in
Rupees Millions]
NEW CONCERN
LOCAL AGENCY FURTHER INFORMATION
MR. ANUP KUMAR JALAN
ABRIDGED BALANCE
SHEET
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 (Projected) |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
37.109 |
32.978 |
17.968 |
0.629 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
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NETWORTH |
37.109 |
32.978 |
17.968 |
0.629 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.107 |
0.986 |
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2] Unsecured Loans |
0.692 |
0.693 |
1.798 |
3.413 |
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TOTAL BORROWING |
0.692 |
0.693 |
1.905 |
4.399 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
0.000 |
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TOTAL |
37.801 |
33.671 |
19.873 |
5.028 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.804 |
2.804 |
2.804 |
2.759 |
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Capital work-in-progress |
0.000 |
3.963 |
0.000 |
0.000 |
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INVESTMENT |
1.166 |
1.167 |
1.167 |
1.303 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000 |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
0.000 |
0.000
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0.000 |
0.000 |
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Cash & Bank Balances |
23.772 |
15.828
|
5.843 |
0.807 |
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Other Current Assets |
0.005 |
0.005
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0.005 |
0.005 |
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Loans & Advances |
10.054 |
10.054
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10.054 |
0.154 |
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Total
Current Assets |
33.831
|
25.887 |
15.902 |
0.966 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
0.000 |
0.150
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0.000 |
0.000 |
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Other Current Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
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Provisions |
0.000 |
0.000 |
0.000 |
0.000 |
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Total
Current Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
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Net Current Assets |
33.831 |
25.737 |
15.902 |
0.966 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
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TOTAL |
37.801 |
33.671 |
19.873 |
5.028 |
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PROFIT & LOSS
ACCOUNT
(RS. IN MILLIONS)
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PARTICULARS |
31.03.2012 |
31.03.2011 (Projected) |
31.03.2010 |
31.03.2009 |
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SALES |
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Net Income from Liasion Job after deducting all expenses |
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0.315 |
0.268 |
0.194 |
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Share of Profit from PFAS |
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15.000 |
17.363 |
0.258 |
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Bank Interests |
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0.002 |
0.001 |
0.003 |
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TOTAL |
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15.317 |
17.632 |
0.455 |
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Less |
EXPENSES |
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LIP |
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0.004 |
0.004 |
0.016 |
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Income Tax (2008-09) |
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0.000 |
0.000 |
0.020 |
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STT and Other Charges |
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0.000 |
0.005 |
0.007 |
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Traveling Expenses |
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0.035 |
0.035 |
0.185 |
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Share of Firm Tax |
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0.000 |
0.008 |
0.012 |
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ICICI Mediclaim |
NA |
0.022 |
0.022 |
0.011 |
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Short Term Loss on Shares |
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0.000 |
0.000 |
0.033 |
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Car Insurance |
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0.012 |
0.012 |
0.000 |
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Demat Charge |
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0.000 |
0.000 |
0.001 |
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Withdrawals |
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0.210 |
0.180 |
0.125 |
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TOTAL |
|
0.283 |
0.266 |
0.410 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
15.034 |
17.366 |
0.045 |
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Less |
FINANCIAL
EXPENSES |
|
0.024 |
0.088 |
0.075 |
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SURPLUS/
(DEFICIT) TRANSFERRED TO CAPITAL ACCOUNT |
|
15.010 |
17.278 |
(0.030) |
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PROJECTED
COMPUTATION OF ASSESSABLE INCOME
MR. ANUP KUMAR
JALAN – GUWAHATI
(RS. IN MILLIONS)
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Particulars |
2011-2012 |
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Income from Business |
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Net Income from
Liasion Job |
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0.314 |
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Share of Profit from PFAS |
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M/s Regency
Realties |
15.000 |
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Less: Exempt U/s
10 (2A) |
15.000 |
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Nil |
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Income From other sources |
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Bank Interests |
0.002 |
0.002 |
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TOTAL |
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0.316 |
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Less: Deduction
U/s 80 C |
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LIP |
|
0.004 |
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Less: Deduction
u/s 80 D |
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Mediclaim
Rs.0.022 Millions |
0.022 |
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But Allowable |
|
0.015 |
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Assessable Income |
|
0.296 |
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Rounded to |
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0.296 |
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Tax Payable |
|
0.014 |
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Add: Edu. Cess |
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0.000 |
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Total Tax and Cess |
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0.014 |
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Tax Paid |
|
0.014 |
NET
WORTH OF MR. ANUP KUMAR JALAN
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2010 |
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ASSETS |
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Flat at Mumbai |
1.953 |
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Other Fixed
Assets (Car, Laptop etc) |
0.851 |
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Investment in
Shares |
1.167 |
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Deposits and
Advance |
10.054 |
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Cash and Bank
Balance |
5.843 |
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Income Tax
Suspense |
0.005 |
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TOTAL ASSETS |
19.873 |
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LIABILITIES |
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Unsecured Loans
from Parties |
1.798 |
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Secured Loans |
0.107 |
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TOTAL
LIABILITIES |
1.905 |
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TOTAL NET WORTH
(ASSETS – LIABILITIES) |
RS. 17.968
MILLIONS |
VALUATION
REPORT OF IMMOVABLE PROPERTY
(PART
– I QUESTIONNAIRE)
GENERAL
INFORMATION
|
Purpose for Which Valuation Made |
To assess the Fair Market Value for the
purpose of collateral/ availing credit facility from Corporation Bank,
Ashokvan Branch. |
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Date on which Visit Made |
8th March 2011 |
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Name of the Owners |
Mr. Anupkumar G. Jalan |
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If the property is under joint ownership
co-ownership share of each owner, is the share undivided |
Lease Ownership as per tripartite Agreement
dated 10.06.2010. |
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Brief Description of the Property: |
The said property consists of Proposed
Residential and Presently only land is seen |
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Location Street, Ward No.: |
At Plot No.312, Sector 17, Ulwe, Navi Mumbai Tal – Panvel, District – Raigad |
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Survey/ Plot No. of Land: |
Plot No.312, Sector 17, At Village Ulwe, Tal
– Panvel. |
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It the Property Situated in residential/
Commercial/ Mixed/ Industrial Area |
Residential and Commercial Area |
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Classification of locality – High Class/ Middle
Class/ Poor Class. |
Higher Middle Class |
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Proximity to civic amenities like schools
offices, Hospitals, Market Cinemas etc. |
Available at About 2 to 3 km distance.
Proposal Railway Station Ulwe at 1 km distance. |
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Means and Proximity to surface Communication
by which the locality is served |
Autos, Buses, Taxis and Suburban Railway
service Available. |
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LAND |
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Area of land supported by documentary |
Proposal Residential and commercial Building
presently only land is seen. Proposed built up area 3219sq. ft. as per
sanction Plan (289.115 + 9.913 = 299.028 m2) Plot area 2152
sq. ft. (199.98 m2) as per agreement |
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Roads or Lanes on which land is abutting |
At Sector 17, Ulwe |
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Is it freehold or lease land |
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Does the land fall in area included in town
planning scheme or any development of government of any statutory body? If so
give particulars. |
Falls within limits of NMMC Taluka – Panvel |
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Has any contribution been made towards
development or is any contribution still Outstanding? |
Surrounded by compound wall and gates. |
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IMPROVEMENTS |
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Is the building owner occupied tenant or
both |
Proposed Residential and Commercial
Premises |
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What is F.S.I. permissible and percentage
actually utilized? |
FSLS and CC No. CIDCO/BP/ATPO/1517 Dated 15.10.2010. |
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RENTS |
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Give details of water and electricity
charges if any to be borne by the owner |
Borne by owner |
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If the lift is installed, who to bear the cost
of maintenance and operations? |
NA |
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If a pump is installed, who has to bear to
cost of maintenance and operation? |
Cost Borne by the Owner |
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Who has to bear the cost of electricity for lighting
of common space like entrance, hall, stairs, passages, compounds, etc. |
Maintained by owner and Cost borne by owner.
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What is the amount of property tax? Who has
to bear it? Give details with documentary proof. |
Included in Society Maintenance charge and
Borne by Owner |
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SALES |
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Give instance of sale of immovable property
in the locality on a separate sheet. Including the name and address of the
property, registration No. sale price and area land sold. Land rate adopted in this valuation |
The Fair Market Value of the said property
is assessed from the market survey and inquiry from local Estate Agents. The
plot area is 2152 sq. ft. and FIS is 1.5 |
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If sale instances are not available or not relied
upon, the basis of arriving at the land rate |
Considering the above factors the Fair
Market Value of said premises is as follows Valuation of Land = 2152 x 105 x 3200 = Rs.10.330 Millions = Rs.10.330 Millions |
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COST OF CONSTRUCTION |
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Year of completion of construction |
Proposed during 2011-13 |
TECHNICAL DETAILS FOR THE PREMISES
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No. of Floors and height of each floor |
Proposed Ground + 4th Floor 10’-0” height |
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Plinth area floor – wise (as per 3861-1966) |
Proposal Residential and commercial Building
presently only land is seen. Proposed built up area 3219sq. ft. as per
sanction Plan (289.115 + 9.913 = 299.028 m2) Plot area 2152
sq. ft. (199.98 m2) as per agreement |
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Year of Construction |
Proposed during 2011-13 |
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Estimated Future Life |
Approx. 50 years (Proposed) |
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Type of Construction |
RCC Framed Structure (Proposed) |
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Type of Foundations |
RCC |
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WALLS Basement and plinth
Super Structure above |
9” thick brick/ Stone Masonry 9” thick brick Masonry |
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Partitions |
NA |
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Door and Windows (Floor-wise) |
Wooden Frame Flush Door and Aluminium Windows (Proposal) |
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Flooring (Floor-wise) |
Vitrified Tiles Flooring (Proposal) |
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Finishing (Floor-wise) |
Sand faced Cement Plaster externally and neeru cement
plaster internally. |
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Roofing and Terracing |
RCC Flat roof |
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Internal Wiring surface or conduit |
Conduit (Proposed) |
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Class of fitting superior/ Ordinary/ Poor |
Good Quality (Proposed) |
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Sanitary Installations |
Toilets Provided (Proposed) |
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Class of fittings superior / Ordinary/ superior white/
ordinary |
Good Quality (Proposed) |
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Compound wall |
Masonary wall Provided with
Gates. |
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No. of lifts and capacity |
One (Proposed) |
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Underground |
Provided |
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Capacity |
As per NMMC regulations |
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Type of construction |
RCC |
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Overhead Tank |
Provided |
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Where located |
On Toilet Block |
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Capacity |
As per NMMC regulations |
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Type of construction |
RCC |
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Pumps Nos. and their horsepower |
Provided of adequate capacity |
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Road and paving within the compound, approx area. |
Chequered Tiles paving (Proposed) |
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Sewage disposal, whether connected to public sewers. If
Septic tanks provided, no and capacity. |
Connected to Public Sewer. |
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PERSONAL
ASSETS OF THE PROPRIETOR
|
Name |
Description of
the Assets owned by them |
Amount (Rs. in
Millions) |
|
|
|
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|
Mr. Anup Kumar Jalan |
Honda City Car |
0.780 |
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Mr. Anup Kumar Jalan |
Jewellary |
0.006 |
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Mr. Anup Kumar Jalan |
Furniture |
0.020 |
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Mr. Anup Kumar Jalan |
Flat (Gayatri Shivam) |
1.953 |
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Mr. Anup Kumar Jalan |
Laptop |
0.045 |
DETAILS OF CREDIT
LIMIT(S) SOUGHT
|
Nature of
Facility |
Amount |
Purpose |
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|
Bank Loan |
Rs.7.500 Millions |
Construction |
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DETAILS OF
SECURITY(ES) PRIME AS WELL AS COLLATERAL OFFERED
|
Type of Security
|
Name of the Owner
|
Purpose |
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|
Land |
Mr. Anup Kumar Jalan |
R%s. |
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|
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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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.59 |
|
|
1 |
Rs.73.44 |
|
Euro |
1 |
Rs.64.81 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.