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Report Date : |
13.12.2011 |
IDENTIFICATION DETAILS
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Name : |
SANKALPAN ARCHITECTS PRIVATE LIMITED |
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Registered
Office : |
A-304, Sentinel Hiranandani Business Park, Hiranandani Gardens, Powai,
Mumbai-400076, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
23.03.1999 |
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Com. Reg. No.: |
11-119059 |
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Capital
Investment / Paid-up Capital : |
Rs.2.295
Millions |
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CIN No.: [Company Identification
No.] |
U13744MH1999PTC119059 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNES09395B MUMS60365E |
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PAN No.: [Permanent Account No.] |
AAECS1278H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing Services in the Field of Architecture and Interiors Designing.
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No. of Employees
: |
50 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 77000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be under pressure. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. The company can be considered for business dealings with some caution.
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 [GENERAL DETAILS]
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Name : |
Mr. Praveen |
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Designation : |
Finance Manager |
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Contact No.: |
91-22-66919400 |
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Date : |
12.12.2011 |
LOCATIONS
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Registered Office : |
A-304, Sentinel Hiranandani Business Park, Hiranandani Gardens, Powai,
Mumbai-400076, Maharashtra, India |
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Tel. No.: |
91-22-66919400 |
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Fax No.: |
91-22-66924077 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Overseas Office: |
104, Rose House, AI Bada Street, AI Satwa, Dubai, UAE |
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Tel No.: |
+ 97-3490013 |
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Branch Office: |
Located At: ·
Chennai ·
Pune ·
Gurgaon ·
Hyderabad |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Ninad Ravindra Randive |
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Designation : |
Director |
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Address : |
286, Ram Smriti, Ram Maruti Road, Near New English School, Naupada,
Thane (West)-400602, Maharashtra, India |
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Date of Birth/Age : |
24.09.1971 |
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Date of Appointment : |
23.03.1999 |
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Din No.: |
00058336 |
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Other Directorship:
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Name : |
Mr. Atin Vasant Kulkarni |
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Designation : |
Director |
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Address : |
123, 12th Floor, Sharmistha Tarangan Complex, Near Cadbury,
Thane (West)-400606, Maharashtra, India |
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Date of Birth/Age : |
06.07.1971 |
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Date of Appointment : |
23.03.1999 |
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Din No.: |
00162400 |
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Other Directorship:
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Name : |
Mr. Amogh Arvind Sule |
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Designation : |
Director |
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Address : |
Kailashnath Ram Maruti Road, Naupada, Thane (West)-400602,
Maharashtra, India |
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Date of Birth/Age : |
03.11.1974 |
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Date of Appointment : |
02.12.2004 |
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Din No.: |
00058483 |
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Other Directorship:
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Name : |
Mr. Kshitij Vijay Limaye |
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Designation : |
Director |
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Address : |
Flat No. 1303, B/4 wing, Raunak Park, 2nd Pokhran Road,
Thane (West)-400606, Maharashtra, India |
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Date of Birth/Age : |
19.05.1978 |
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Date of Appointment : |
02.12.2004 |
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Din No.: |
00058550 |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Mr. Praveen |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Ninad Ravindra Randive |
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112000 |
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Atin Vasant Kulkarni |
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112000 |
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Ashwini Ninad Randive |
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10 |
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Prabha Vasant Kulkarni |
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10 |
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Kshitij Vijay Limaye |
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2750 |
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Amogh Arvind Sule |
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2750 |
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Total |
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229520 |
AS ON 30.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Services in the Field of Architecture and Interiors
Designing. |
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Terms : |
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Selling : |
Cash and Credit [30 and 60 days] |
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Purchasing : |
Cash and Credit [30 and 60 days] |
GENERAL INFORMATION
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Customers : |
Others [Corporate] |
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No. of Employees : |
50 [Approximately] |
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Bankers : |
The Thane Janata Sahakari Bank Limited, Deen Dayal Bhavan, Jambhli
Naka, Thane-400602, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Yashawant Anil Rajshree and Associates Chartered Accountants |
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Address : |
2, Dhairya Co-operative Housing Society, Ground Floor, Near Daya
Kshama Shanti Society, Naupada, Thane (West)-400602, Maharashtra, India |
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Tel. No.: |
91-22-25391525/25362221 |
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Pan No.: |
AAAFY5835F |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
229520 |
Equity Shares |
Rs.10/- each |
Rs.2.295
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.295 |
2.295 |
2.295 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
17.000 |
18.997 |
38.199 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
19.295 |
21.292 |
40.494 |
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LOAN FUNDS |
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1] Secured Loans |
37.906 |
31.838 |
35.953 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
37.906 |
31.838 |
35.953 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
57.201 |
53.130 |
76.447 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
33.454 |
36.791 |
42.350 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.688 |
0.689 |
0.364 |
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DEFERREX TAX ASSETS |
0.278 |
0.278 |
0.278 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
13.893
|
15.065 |
22.908 |
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Cash & Bank Balances |
1.070
|
0.504 |
1.911 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
28.410
|
22.399 |
24.983 |
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Total
Current Assets |
43.373
|
37.968 |
49.802 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
4.351
|
5.430 |
4.333 |
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Other Current Liabilities |
16.260
|
17.209 |
12.083 |
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Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
20.611
|
22.639 |
16.416 |
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Net Current Assets |
22.762
|
15.329 |
33.386 |
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MISCELLANEOUS EXPENSES |
0.019 |
0.043 |
0.069 |
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TOTAL |
57.201 |
53.130 |
76.447 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PROFIT / (LOSS)
BEFORE TAX |
(2.924) |
(14.853) |
19.945 |
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Less |
TAX |
(0.927) |
4.349 |
1.448 |
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PROFIT / (LOSS)
AFTER TAX |
(1.997) |
(19.202) |
18.497 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
17.537 |
36.739 |
NA |
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BALANCE CARRIED
TO THE B/S |
15.540 |
17.537 |
NA |
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Earnings /
(Loss) Per Share (Rs.) |
(8.70) |
(83.66) |
80.59 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(3.81)
|
(19.87) |
21.64 |
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Return on Investment (ROI) (PBT/Networth) |
|
(0.15)
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(0.70) |
0.49 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.03
|
2.55 |
1.29 |
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Current Ratio (Current Asset/Current Liability) |
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2.10
|
1.67 |
3.03 |
LOCAL AGENCY FURTHER INFORMATION
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Check List by
Info Agents |
Available in
Report (Yes / No) |
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1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
-- |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
No |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
No |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
-- |
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21) Market information |
-- |
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22) Litigations that the firm / promoter involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
No |
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28) Incorporation details, if applicable |
-- |
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29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
-- |
PERFORMANCE
REVIEW:
During the year revenue accounts shows a loss of Rs.1.997 millions profit
after tax.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of charge |
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Charge identification number of the
modified |
10013978 |
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Corporate identity number of the company |
U13744MH1999PTC119059 |
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Name of the company |
SANKALPAN ARCHITECTS PRIVATE LIMITED |
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Address of the registered office or of the
principal place of business in |
A-304, Sentinel Hiranandani Business Park, Hiranandani Gardens, Powai,
Mumbai-400076, Maharashtra, India |
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Type of charge |
Immovable Property |
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Particular of charge holder |
The Thane Janata Sahakari Bank Limited, Deen Dayal Bhavan, Jambhli
Naka, Thane-400602, Maharashtra, India |
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Email |
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Nature of description of the instrument
creating or modifying the charge |
Record of mortgage by deposit of title
deeds (ADHOC bank guarantee) |
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Date of instrument Creating the charge |
29.09.2011 |
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Amount secured by the charge |
Rs.274.000 Millions |
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Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest Commission as may be decided by the bank. Terms of Repayment Period - Upto 31.12.2011 Margin 20% in FDR and 80% by way of property at
Unit 304, Sentinel, Hiranandani Business Park, Powai, Mumbai. Extent and Operation of the charge Charge is created for ADHOC bank guarantee
facility of Rs. 50.000 millions given to Sankalpan infrastructure private
limited against security of immovable property of Sankalpan Architects
Private Limited. |
|
Short particulars of the property charged |
Charge is secured against equitable
mortgage by way of deposit of title deeds of and in respect of the property
owned by Sankalpan Architects Private Limited being the premises no.304,
admeasuring on or about 3250 sq. ft built up on the 3rd
Floor in the building known as "sentinel", that is resting on the
piece and parcel of the land bearing C T S No. 4,5,8,9,10,11,12,13 (p), 14
(p), 16 (p), 17, 18 (p) 19 (p), 24 (p), and 25 in sector - iv-b,
situate at village Powai, within the local limits of the municipal
corporation of greated Mumbai and within the registration district Mumbai,
more particularly |
|
Particulars of the present
modification |
Charge is modified from Rs. 224.000
millions to Rs. 274.000 millions and secured against eqt mort. by way of
deposit of title deeds of and in respect of property owned by Sankalpan
Architects Private Limited being premises no.304, admeasuring on or about
3250 sq. ft built up on the 3rd floor in the building known as
"sentinel", that is resting on the piece and parcel of the land
bearing C T S No.4,5,8,9,10,11,12,13 (p), 14 (p), 16 (p), 17, 18 (p), 19 (p),
24(p), and 25 in sector - iv-b, situate at village Powai. |
FIXED ASSETS:
·
Office Building
·
Electrical Fittings
·
Office Equipments
·
Air Conditioners
·
Computers Systems
·
Computer Software
·
Mobile Handsets
·
Xerox Machine
·
Spiral Binding Machine
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.52.42 |
|
|
1 |
Rs.81.92 |
|
Euro |
1 |
Rs.69.94 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
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.