MIRA
INFORM REPORT
|
Report Date : |
02.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
TELECARE |
|
|
|
|
Registered
Office : |
Gala No. B/10, Shivkripa Society, Sapta Sreengi Mata Mandir Lane, J.M.M.
Road, Asalpha, Ghatkopar (West), Mumbai – 400 084, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 (Provisional) |
|
|
|
|
Year of
Establishment : |
1978 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.22.905 millions (Provisional) |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAFT0972G |
|
|
|
|
Legal Form : |
Partnership concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Dealer in Electronics items like Refrigerator, Washing Machines,
Televisions, A.C., DVD Player etc. |
|
|
|
|
No. of Employees
: |
6 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established concern having satisfactory track. Trade
relations are reported as fair. The valuation report provided seems to be
satisfactory. No complaints have been heard from indirect or market sources. 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 |
LOCATIONS
|
Registered Office : |
Gala No. B/10, Shivkripa Society, Sapta Sreengi Mata Mandir Lane,
J.M.M. Road, Asalpha, Ghatkopar (West), Mumbai – 400 084, Maharashtra,
India |
|
Tel. No.: |
91-22-25114875 |
|
Mobile No.: |
91-9920430383 (Mr. Nitin) |
|
Fax No.: |
91-22-25114242 |
|
E-Mail : |
|
|
Area : |
2000 sq ft |
|
Location : |
Owned |
PARTNERS
As on 31.03.2011
|
Name : |
Mr. Nitin P. Shah |
|
Designation : |
Partner |
|
Address : |
53, B-Wing, Shrenik Nagar, Co-Operative Housing Society, Amrut Nagar,
Ghatkopar (West), Mumbai – 400 086, |
|
Date of Birth/Age : |
63 Years |
|
Qualification : |
B.A. |
|
PAN No.: |
AAQPS0570F |
|
|
|
|
Name : |
Mrs. Smita Shah |
|
Designation : |
Partner |
|
Address : |
6, Jai Laxmi Shopping Centre, |
|
Date of Birth/Age : |
60 Years |
|
Qualification : |
B.A. |
|
PAN No.: |
AAQPS0110F |
|
|
|
|
Name : |
Mr. Hitesh N. Shah |
|
Designation : |
Partner |
|
Address : |
53, B-Wing, Shrenik Nagar, Co-Operative Housing Society, Amrut Nagar,
Ghatkopar (West), Mumbai – 400 086, |
|
Date of Birth/Age : |
30 Years |
|
Qualification : |
B.Com |
|
PAN No.: |
APRPS6196K |
BUSINESS DETAILS
|
Line of Business : |
Dealer in Electronics items like Refrigerator, Washing Machines, Televisions,
A.C., DVD Player etc. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30/ 60 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30/ 60 days) |
GENERAL INFORMATION
|
Suppliers : |
v
Godrej and Boyce Manufacturing Company Limited v
Cool Vision Enterprises v
Haier Appliances India Limited v
J.D. Zatakia and Company v
Reliance Energy |
|
|
|
|
Customers : |
Distributors v
v
Amar T. V. Centre v
v
Ajantha Electronics v
Arcee Enterprises v
Anil Audio Video Private Limited v
Aenny Sales v
v
A to Z Electronics v
Diwan Electronics v
Big Zone Electronics v
Dhun Electronics v
Embasy Electronics v
Electronics Centre v
Everlucky Trading Company v
Jitendra Electronics v
Kamal Enterprises v
Kamla Trading Company v
Kanara Electronics v
Leela Electronics v
Mahek Electronics v
Kings Electronics v
Manhar Electronics v
MD Electronics v
Meem Enterprises v
Meghdoot Satelite v
Maruti Electronics v
NagmaniT. V. Centre v
Narang Electronics v
Navin Electronics v
New Canara Electronics v
Shree Electronics v
Sharda Electronics Shoppee v
Shri Krishna v
Shri Swastik Electronics v
Sangeet Electronics v
v
Shree Abhishek Electronics v
Sona Electronics - Bhandup v
Shree Mahalaxmi Electronics v
Sri Sai Electronics v
Sai Electronics v
Sai Krupa Electronics v
Saibaba Electronics v
Sony Vision v
Soni Electronics v
Sapna Electronics v
Shree Gurukripa Electronics v
Varsha Electronics v
Welcome Electronics v
Winner Electronics v
Advance Computer Services Limited v
Bhawal Electronics v
Bhanudeep Electronics |
|
|
|
|
No. of Employees : |
6 (Approximately) |
|
|
|
|
Bankers : |
Corporation Bank, Ghatkopar (West) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J.D. Zatakia and Company Chartered Accountants |
|
Address : |
306, |
CAPITAL STRUCTURE
AS ON 31.03.2011
(PROVISIONAL)
|
Capital Investment : |
|
|
Owned : |
Rs.5.469 millions |
|
Borrowed : |
Rs.17.436 millions |
|
Total : |
Rs.22.905 millions
|
PARTNERS CAPITAL
ACCOUNT (AS ON 31.03.2010)
MR. NITIN P. SHAH
|
Particulars |
Amount (Rs. in
millions) |
Particulars |
Amount (Rs. in
millions) |
|
To HDFC/L.I.C. Premium |
0.010 |
By Balance b/f |
0.731 |
|
To Withdrawals |
0.193 |
By Interest |
0.056 |
|
To Mediclaim Insurance |
0.019 |
By Remuneration |
0.011 |
|
To Profession Tax |
0.002 |
By Share of Profit |
0.001 |
|
To Soc. Maintenance |
0.040 |
|
|
|
To Share of Firm Tax |
0.031 |
|
|
|
To Balance c/f |
0.504 |
|
|
|
|
|
|
|
|
Total |
0.799 |
Total |
0.799 |
MRS. SMITA N. SHAH
|
Particulars |
Amount (Rs. in
millions) |
Particulars |
Amount (Rs. in
millions) |
|
To Drawings |
0.034 |
By Balance b/f |
0.722 |
|
To Profession Tax |
0.003 |
By Interest |
0.062 |
|
To Society Maintenance |
0.038 |
By Share of Profit |
0.001 |
|
To Share of Firm Tax |
0.031 |
|
|
|
To Balance c/f |
0.679 |
|
|
|
|
|
|
|
|
Total |
0.785 |
Total |
0.785 |
MRS. KANTABEN P.
SHAH
|
Particulars |
Amount (Rs. in
millions) |
Particulars |
Amount (Rs. in
millions) |
|
To Mediclaim Insurance |
0.006 |
By Balance b/f |
0.545 |
|
To Share of Firm Tax |
0.010 |
By Interest |
0.049 |
|
To Drawings |
0.011 |
By Share of Profit |
0.000 |
|
To Balance c/f |
0.567 |
|
|
|
|
|
|
|
|
Total |
0.594 |
Total |
0.594 |
MR. HITESH N. SHAH
|
Particulars |
Amount (Rs. in
millions) |
Particulars |
Amount (Rs. in
millions) |
|
To Balance b/f |
0.118 |
By Remuneration |
0.005 |
|
To Drawings |
0.212 |
By Share of Profit |
0.001 |
|
To HDFC/L.I.C. Premium |
0.224 |
By Balance c/f |
0.610 |
|
To Mediclaim Insurance |
0.003 |
|
|
|
To P. P. F. for Sheetal |
0.001 |
|
|
|
To Profession Tax |
0.002 |
|
|
|
To Interest |
0.025 |
|
|
|
To Share of Firm Tax |
0.031 |
|
|
|
|
|
|
|
|
Total |
0.616 |
Total |
0.616 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital Account |
5.469 |
1.141 |
1.880 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5.469 |
1.141 |
1.880 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
17.436 |
16.089 |
14.252 |
|
|
TOTAL BORROWING |
17.436 |
16.089 |
14.252 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
22.905 |
17.230 |
16.132 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.431 |
0.582 |
0.673 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.142 |
0.142 |
0.129 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.702
|
7.252 |
12.054 |
|
|
Sundry Debtors |
13.338
|
11.023 |
10.907 |
|
|
Cash & Bank Balances |
0.458
|
0.613 |
0.439 |
|
|
Other Current Assets |
4.276
|
3.976 |
3.659 |
|
|
Loans & Advances |
0.000
|
0.165 |
0.000 |
|
Total
Current Assets |
23.774
|
23.029 |
27.059 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.442
|
6.523 |
11.729 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
1.442
|
6.523 |
11.729 |
|
|
Net Current Assets |
22.332
|
16.506 |
15.330 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
22.905 |
17.230 |
16.132 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
43.379 |
26.180 |
49.040 |
|
|
|
Other Income |
7.333 |
3.839 |
4.350 |
|
|
|
TOTAL |
50.712 |
30.019 |
53.390 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
43.510 |
26.283 |
48.744 |
|
|
|
Sales Promotion |
0.297 |
0.195 |
0.307 |
|
|
|
Salary |
0.470 |
0.366 |
0.435 |
|
|
|
Telephone Expenses |
0.080 |
0.090 |
0.097 |
|
|
|
Office Expenses |
0.097 |
0.115 |
0.296 |
|
|
|
Conveyance |
0.048 |
0.047 |
0.066 |
|
|
|
Petrol Expenses |
0.056 |
0.038 |
0.047 |
|
|
|
Godown Rent/ Expenses |
0.318 |
0.416 |
0.843 |
|
|
|
Tempo Expenses |
0.185 |
0.144 |
0.221 |
|
|
|
Other Expenditure |
2.866 |
2.223 |
2.347 |
|
|
|
TOTAL |
47.927 |
29.917 |
53.403 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.785 |
0.102 |
(0.013) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
0.080 |
0.100 |
0.131 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
2.705 |
0.002 |
(0.144) |
|
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.33
|
0.01 |
(0.27) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.24
|
0.01 |
(0.29) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.18
|
0.01 |
(0.52) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.49
|
0.00 |
(0.08) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.45
|
19.82 |
13.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
16.49
|
3.53 |
2.31 |
LOCAL AGENCY FURTHER INFORMATION
PARTICULARS
OF PARTNERS AND THEIR PROFIT SHARING RATIO (As on 31.03.2010)
|
Sr. No. |
Name of the
Partner |
Profit Sharing Ratio |
|
1. |
Nitin P. Shah |
30% |
|
|
|
|
|
2. |
Smita N. Shah |
30% |
|
|
|
|
|
3. |
Hitesh N. Shah |
30% |
|
|
|
|
|
4. |
Kantaben P. Shah |
10% |
|
|
|
|
|
|
Total |
100% |
------------------------------------------------------------------------------------------------------------------------------
PROFIT AND
LOSS ACCOUNT
(Rs.
in millions)
|
Particulars |
2011 |
2012 |
2013 |
|
Provisional |
Estimated |
Projected |
|
|
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Actual duration
of Accounting Period (months) |
12 |
12 |
12 |
|
|
|
|
|
|
Gross Sales (net
of returns) |
|
|
|
|
- Domestic |
43.379 |
65.000 |
80.000 |
|
- Export |
0.000 |
0.000 |
0.000 |
|
Sub Total (Gross
Sales) |
43.379 |
65.000 |
80.000 |
|
|
|
|
|
|
% wise rise/fall in sales as compared to previous year |
65.70 |
49.84 |
23.08 |
|
|
|
|
|
|
Other Operating
Income |
|
|
|
|
Export Incentives |
-- |
-- |
-- |
|
Commission / Brokerage received |
4.842 |
6.500 |
8.000 |
|
Others |
-- |
-- |
-- |
|
|
|
|
|
|
Total Operating
Income |
48.221 |
71.500 |
88.000 |
|
Cost of Sales |
|
|
|
|
Purchases |
41.961 |
67.398 |
81.800 |
|
Other Trading
expenses (carriage inward, commission & brokerage on purchases) |
0.344 |
0.500 |
0.700 |
|
Sub Total |
42.305 |
67.898 |
82.500 |
|
Add Opening Stock |
7.252 |
5.702 |
8.200 |
|
Less: Closing Stock |
5.702 |
8.200 |
10.000 |
|
Total Cost of
Sales |
43.855 |
65.400 |
80.700 |
|
|
|
|
|
|
Selling, General
& Administration Expenses |
1.848 |
2.700 |
3.000 |
|
Operating Profit
before interest Depreciation |
2.518 |
3.400 |
4.300 |
|
Interest |
2.224 |
2.500 |
3.200 |
|
Depreciation |
0.080 |
0.060 |
0.040 |
|
Operating Profit
after Interest & Depreciation |
0.214 |
0.840 |
1.060 |
|
Non Operating
Items |
-- |
-- |
-- |
|
Add Non
Operating Income |
-- |
-- |
-- |
|
Profit on sale of assets/ investments |
2.359 |
0.000 |
0.000 |
|
Interest from investments |
0.000 |
0.000 |
0.000 |
|
Forex gains |
-- |
-- |
-- |
|
Non-operating income from subsidiaries |
-- |
-- |
-- |
|
Tax Refund |
-- |
-- |
-- |
|
Other Non Operating Income |
0.132 |
0.160 |
0.200 |
|
Total
non-operating Income |
2.491 |
0.160 |
0.200 |
|
|
|
|
|
|
Deduct Non Operating Expenses |
-- |
-- |
-- |
|
Loss on sale of assets |
-- |
-- |
-- |
|
Preliminary Expenses w/off |
-- |
-- |
-- |
|
Other Non-operating expenses |
-- |
-- |
-- |
|
Total
Non-operating expenses |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Net of
Non-operating Income/ Expenses |
2.491 |
0.160 |
0.200 |
|
|
|
|
|
|
Profit Before
tax |
2.705 |
1.000 |
1.260 |
|
|
|
|
|
|
Provision for
taxation: |
|
|
|
|
Current |
0.450 |
0.150 |
0.200 |
|
Deferred |
0.000 |
0.000 |
0.000 |
|
Sub Total:
Provision for taxation |
0.450 |
0.150 |
0.200 |
|
|
|
|
|
|
Net Profit After
tax |
2.255 |
0.850 |
1.060 |
|
Extraordinary
Items adjustments: |
|
|
|
|
Extraordinary Income adjustments (+) |
-- |
-- |
-- |
|
Extraordinary Expenses adjustments (-) |
-- |
-- |
-- |
|
Sub Total
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Adjusted PAT
(excluding Extraordinary Items) |
2.255 |
0.850 |
1.060 |
|
|
|
|
|
|
Dividend Paid |
|
|
|
|
On Preference Share Capital |
-- |
-- |
-- |
|
On Equity Capital |
-- |
-- |
-- |
|
|
|
|
|
|
Dividend tax |
-- |
-- |
-- |
|
Partners’ withdrawal |
-- |
-- |
-- |
|
Dividend (%) |
-- |
-- |
-- |
|
Retained Profit |
2.255 |
0.850 |
1.060 |
|
Cash Accruals |
2.335 |
0.910 |
1.100 |
------------------------------------------------------------------------------------------------------------------------------
BALANCE
SHEET
(Rs.
in millions)
|
Particulars |
2011 |
2012 |
2013 |
|
Provisional |
Estimated |
Projected |
|
|
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
LIABILITIES: |
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
Short term borrowings
from Banks (including bills purchased, discounted & excess borrowings
placed on repayment basis) Note: Bills negotiated
under LC should be excluded (i) from
applicant bank (ii) from other
banks |
|
|
|
|
Bank Borrowings - From our Bank |
0.000 |
9.500 |
11.500 |
|
Bank Borrowings - From other Banks |
8.742 |
0.000 |
0.000 |
|
Sub Total |
8.742 |
9.500 |
11.500 |
|
|
|
|
|
|
Short term
borrowings from Others |
-- |
-- |
-- |
|
|
|
|
|
|
Creditors for
purchases |
1.195 |
2.012 |
2.372 |
|
|
|
|
|
|
Advances/
payments from customers/ deposits from dealers |
-- |
-- |
-- |
|
|
|
|
|
|
Provisions |
|
|
|
|
-Tax |
0.000 |
0.000 |
0.000 |
|
-Others |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Dividends
Payable |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Statutory
liabilities due within one year |
0.000 |
0.100 |
0.200 |
|
|
|
|
|
|
Installments of
Term Loans/ Deferred payment credits/ Debentures/ deposits/ redeemable preference
shares (due within one year) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Deposits |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Other Current
Liabilities |
0.247 |
0.200 |
0.300 |
|
|
|
|
|
|
Total Current
Liabilities |
10.184 |
11.812 |
14.372 |
|
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
Debentures |
-- |
-- |
-- |
|
Preference
shares |
-- |
-- |
-- |
|
Dealers Deposit |
-- |
-- |
-- |
|
Deferred Tax
Liability |
-- |
-- |
-- |
|
Term Loans |
-- |
-- |
-- |
|
Term Deposits |
-- |
-- |
-- |
|
Unsecured Loans (Quasi
Equity) |
8.694 |
8.700 |
8.700 |
|
Other term
liabilities |
-- |
-- |
-- |
|
|
|
|
|
|
Total term
liabilities |
8.694 |
8.700 |
8.700 |
|
|
|
|
|
|
TOTAL OUTSIDE
LIABILITIES |
18.878 |
20.512 |
23.072 |
|
|
|
|
|
|
NET WORTH |
|
|
|
|
Equity Share
Capital |
|
|
|
|
Share Capital (Paid-up) |
-- |
-- |
-- |
|
Share Application (finalised for allotment) |
-- |
-- |
-- |
|
Sub Total (Share
Capital) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
General Reserve |
-- |
-- |
-- |
|
Revaluation
Reserve |
-- |
-- |
-- |
|
Other Reserves
& Surplus: |
|
|
|
|
Partners’ capital/ Proprietor’s capital |
5.469 |
6.000 |
6.500 |
|
Share Premium |
-- |
-- |
-- |
|
Capital subsidy |
-- |
-- |
-- |
|
Others |
-- |
-- |
-- |
|
Balance in
P&L Account (+ / -) |
0.000 |
0.000 |
0.000 |
|
NET WORTH |
5.469 |
6.000 |
6.500 |
|
TOTAL
LIABILITIES |
24.347 |
26.512 |
29.572 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
Current Assets |
|
|
|
|
Cash & Bank
Balances |
0.457 |
0.600 |
0.600 |
|
|
|
|
|
|
Investments |
|
|
|
|
Government and other trustee Securities |
-- |
-- |
-- |
|
Fixed Deposits with Banks |
0.133 |
0.000 |
0.000 |
|
Others |
-- |
-- |
-- |
|
Receivables |
|
|
|
|
Receivables Other than Deferred & exports (Domestic) |
13.338 |
16.200 |
17.500 |
|
Export Receivables |
-- |
-- |
-- |
|
Note |
|
|
|
|
1. All receivable upto 180 days only to be included. |
|
|
|
|
2. |
|
|
|
|
Deferred
receivable (due within one year.) |
-- |
-- |
-- |
|
Stocks-in-Trade |
5.702 |
8.200 |
10.000 |
|
Advances to
suppliers |
-- |
-- |
-- |
|
Advance payment
of tax |
-- |
-- |
-- |
|
Other Current
Assets |
4.045 |
0.900 |
0.900 |
|
TOTAL CURRENT
ASSETS |
23.675 |
25.900 |
29.000 |
|
|
|
|
|
|
Fixed Assets |
|
|
|
|
Gross Block |
0.742 |
0.742 |
0.742 |
|
Less: Accumulated Depreciation |
0.311 |
0.371 |
0.411 |
|
Net Block |
0.431 |
0.371 |
0.331 |
|
Capital Work in progress |
-- |
-- |
-- |
|
|
|
|
|
|
Non-Current
Assets |
|
|
|
|
Investments/ Book
Debts/ Advances/ Deposits (which are not current assets): |
|
|
|
|
Investments in Group concerns |
-- |
-- |
-- |
|
Loans to group concerns / Advances to subsidiaries |
-- |
-- |
-- |
|
Investments in others |
0.010 |
0.010 |
0.010 |
|
Advances to suppliers of capital goods and contractors |
-- |
-- |
-- |
|
Deferred receivables (maturity exceeding one year) |
-- |
-- |
-- |
|
Debtors > 6 months |
-- |
-- |
-- |
|
Security Deposits |
0.131 |
0.131 |
0.131 |
|
Others (Loans & Advances non current in nature, ICD’s etc.) |
-- |
-- |
-- |
|
|
|
|
|
|
Deferred Tax
Asset |
-- |
-- |
-- |
|
|
|
|
|
|
Obsolete stocks |
-- |
-- |
-- |
|
|
|
|
|
|
Other
Non-current Assets (including Dues from directors) |
0.100 |
0.100 |
0.100 |
|
|
|
|
|
|
TOTAL NON
CURRENT ASSETS |
0.241 |
0.241 |
0.241 |
|
|
|
|
|
|
Intangible
Assets: Goodwill, Patents & trademarks |
-- |
-- |
-- |
|
|
|
|
|
|
Accumulated Losses, Preliminary expenses, Miscellaneous expenditure not
w/off, Other deferred revenue expenses |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL ASSETS |
24.347 |
26.512 |
29.572 |
|
|
|
|
|
|
TANGIBLE
NETWORTH |
5.469 |
6.000 |
6.500 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF TOTAL INCOME
(TELECARE)
YEAR
ENDED 31.03.2010
(Rs.
in millions)
|
Profit as per Profit and Loss Account |
|
0.161 |
|
|
|
|
|
Add: Disallowable – Donation |
|
0.012 |
|
|
|
0.173 |
|
|
|
|
|
Less: Interest to Partners |
0.143 |
|
|
Remuneration to Partners |
0.017 |
0.160 |
|
|
|
|
|
|
|
0.013 |
|
Less: Brought forward loss adjusted |
|
|
|
A.Y.A.Y. 2009-10 |
|
0.013 |
|
|
|
|
|
|
Total
Net Income |
NIL
|
|
|
|
|
|
Tax Deducted at Source (5874+490+277+107) Rs.6748/- |
|
|
|
|
|
|
|
|
Tax Payable |
NIL |
|
|
Less: Tax Paid |
0.007 |
|
|
REFUND
|
0.007 |
|
|
Add: Interest U/S 244 A |
|
Note: Loss to
be carried forward
A.Y. 2009-2010
Rs.0.119 million (Rs.0.132 million – Rs.0.013 million)
------------------------------------------------------------------------------------------------------------------------------
SURVEY /
VALUATION REPORT
Ref.: Valuation of the
Residential Premises, belonging to Mr. Nitin Shah and Mrs. Smita N. Shah, located
at Flat No. 53 and 54, 5th Floor, Sanik Nagar Society, Amrut Nagar,
Ghatkopar (West), Mumbai – 400 086
Valuation carried
out at the request of: The Saraswat Cooperative Bank Limited, SME Vikhroli
Branch, Mumbai.
Purpose of
Valuation: To ascertain the Present day Market Value.
|
Name of the
Owner |
Mr. Nitin Shah. Mrs. Smita N. Shah. - Flat No. 53 - Flat No. 54 |
|
|
|
|
Year of
Construction |
1996 - 1997 |
|
|
|
|
Year of Purchase |
1996 - 1997 |
|
|
|
|
Year of Purchase |
45 - 46 Years |
|
|
|
|
Location |
This Premises is located in well developed Residential/ Commercial
area with all necessary civic amenities. The site is 3˝ Kms. from Ghatkopar
Railway Station. Transport and Communication facilities arc well developed
which are including BEST Services and Other Public Transports. |
|
|
|
|
Type of
Construction |
This is Ground + 6 Storied RCC framed Structure with slabs and beams.
There are 4 flats on each floor. This premises is located on 5th
Floor. Comprising of One Bedroom, Hall and Kitchen. |
|
|
|
|
No. of Wings |
A to E Wing |
|
|
|
|
Walls |
All the external walls are made up of 9” thick brick Masanory with
cement plaster and internal walls are made up of 4˝” thick brick masanory
with cement plaster. |
|
|
|
|
Ceiling Height |
Ceiling Height is 10 feet. |
|
|
|
|
Wiring |
Concealed Wiring is provided. |
|
|
|
|
Flooring |
Flooring is made up of Vitrified Tiles. |
|
|
|
|
Doors and
Windows |
Teakwood Framed Doors and Aluminum Sliding Windows with Box Grills are
provided. |
|
|
|
|
Toilet |
Teakwood Framed Doors and Aluminum Sliding Windows with Box Grills are
provided. |
|
|
|
|
Kitchen |
Kitchen is made up of Granite Platform and Concealed Plumbing. |
|
|
|
|
Lift |
Lift is provided to this building. |
|
|
|
|
Carpet Area |
Flat No. 53 = 399.99 Sq. fts. Flat No. 54 = 401 Sq. fts. (As measured) |
|
|
|
|
Built up Area |
Built up Area is Flat No. 53 = 520 Sq. fts. Flat No. 54 = 521 Sq. fts. |
|
|
|
|
Remark |
Flat No.53 and 54 are combined together having Separate entrance. Flat
No.53 Kitchen is converted into Bedroom |
In view of the location and type of construction and facilities provided
to this Premises, the prevailing market rate is Rs.9750/- Per Sq. Feet on Built
up area. Hence the valuation of this Residential Premises is Rs.9750/- x 1041
Sq. fts. = Rs.10.150 millions
Realizable Value is Rs.8.627 millions
Forced Sale Values is Rs.7.612 millions
Our valuation is based on present day market price.
The premium available in the market is considered for this valuation,
for the location and building.
------------------------------------------------------------------------------------------------------------------------------
MR. NITIN
P. SHAH
COMPUTATION
OF TOTAL INCOME
YEAR
ENDED 31.03.2010
(Rs.
in millions)
|
Share of Profit
from PFAS |
|
|
|
Telecare |
|
|
|
Remuneration |
0.011 |
|
|
Interest |
0.056 |
|
|
|
0.067 |
|
|
Less: Profession Tax |
0.002 |
0.065 |
|
|
|
|
|
|
|
|
|
Capital Gain |
|
|
|
Short Term (as per statement) |
|
0.001 |
|
|
|
|
|
Income from
Other Sources |
|
|
|
Interest received from Saving Bank |
|
0.001 |
|
|
|
|
|
|
Total
Gross Income |
0.067 |
|
|
|
|
|
Less: Deduction U/S 80 C |
|
|
|
LIC/ HDFC Premium |
0.100 |
|
|
Deduction U/S 80 D |
|
|
|
Mediclaim Insurance |
0.015 |
|
|
|
0.115 |
|
|
|
|
|
|
Claimed to the extent available |
|
0.066 |
|
|
Total
Net Income |
0.001 |
|
|
|
|
|
|
Tax
Payable |
NIL
|
Note:
1. Share of Profit from Firm Telecare Rs.552/-
exempt U/S 10(2A).
2. Dividend Rs.622/- exempt U/S 10 (34).
-----------------------------------------------------------------------------------------------------------------------------
MR. NITIN
P. SHAH
CAPITAL ACCOUNT FOR THE
YEAR ENDED 31.03.2010
|
Particulars |
Amount (Rs. in
millions) |
Particulars |
Amount (Rs. in
millions) |
|
To Drawings |
0.128 |
By Balance b/f |
1.475 |
|
To Profession Tax |
0.003 |
|
|
|
To LIC Premium |
0.010 |
By Interest Received Saving Bank |
0.001 |
|
To HDFC Premium |
0.105 |
|
|
|
To Mediclaim Insurance |
0.019 |
By Dividend |
0.001 |
|
To Share of Firm Tax |
0.031 |
|
|
|
To Share of Firm Tax |
0.000 |
By Short Term Capital Gain |
0.001 |
|
To Securities and Other Charges |
0.001 |
|
|
|
To Bank Charges |
0.000 |
By Share of Profit from PFAS |
|
|
|
|
Telecare |
|
|
|
|
Interest |
0.056 |
|
|
|
Remuneration |
0.011 |
|
To Balance c/f |
1.249 |
Profit |
0.001 |
|
|
|
|
|
|
Total |
1.546 |
Total |
1.546 |
BALANCE SHEET AS ON
31.03.2010
|
Liabilities |
Amount (Rs. in
millions) |
Assets |
Amount (Rs. in
millions) |
|
Capital Account |
1.249 |
Residential Flat at Shrenik Nagar |
0.305 |
|
|
|
|
|
|
Capital Account with Proprietorship Firm |
|
Mrs. Smita N. Shah |
0.423 |
|
Telecare Appliances |
0.194 |
Mrs. Sheetal H. Shah |
0.150 |
|
|
|
Latin Manharlal Securities |
0.012 |
|
Capital Account with Partnership Firm |
|
|
|
|
Telecare Electronics |
0.016 |
Capital Account with firm Telecare |
0.504 |
|
|
|
|
|
|
ICICI Bank |
0.036 |
Investment in Shares |
0.041 |
|
|
|
|
|
|
|
|
Saraswat Co-Operative Bank |
0.040 |
|
|
|
|
|
|
|
|
Cash on Hand |
0.020 |
|
|
|
|
|
|
Total |
1.495 |
Total |
1.495 |
------------------------------------------------------------------------------------------------------------------------------
MR. HITESH
N. SHAH
COMPUTATION
OF TOTAL INCOME
YEAR
ENDED 31.03.2010
(Rs.
in millions)
|
Business Income |
|
|
|
Share of Profit from Firm |
|
|
|
Telecare - Remuneration |
0.006 |
|
|
Less: Interest |
0.025 |
|
|
|
(0.019) |
|
|
Speculative Gain |
0.017 |
|
|
|
(0.002) |
(0.005) |
|
Less: Profession Tax |
|
|
|
|
|
|
|
|
|
|
|
Capital Gain |
|
|
|
Short Term (as per statement) |
(0.094) |
NIL |
|
|
|
|
|
Income from
Other Sources |
|
|
|
Interest received from Saving Bank |
|
0.000 |
|
|
|
|
|
|
Total
Gross Income |
(0.005) |
|
|
|
|
|
Less: Deduction Chapter VI |
|
|
|
U/S 80-C – LIC Premium |
0.100 |
|
|
U/S 80-D – Medium Insurance |
0.003 |
|
|
|
0.103 |
NIL |
|
|
|
|
|
|
Total
Net Income |
(0.005) |
|
|
|
|
|
|
Tax
Payable |
NIL
|
Note: Income Exempt
1. Share of Profit from Firm Telecare Rs.552/-
U/S 10 (2A).
2. Dividend Rs.2290/- U/S 10 (34).
3. Long Term Capital Gain Rs.7714/- U/S 10
(38).
------------------------------------------------------------------------------------------------------------------------------
MR. HITESH
N. SHAH
CAPITAL ACCOUNT FOR THE
YEAR ENDED 31.03.2010
|
Particulars |
Amount (Rs. in
millions) |
Particulars |
Amount (Rs. in
millions) |
|
To LIC Premium |
0.086 |
By Balance b/f |
0.247 |
|
To Drawings |
0.212 |
|
|
|
To Share of Firm Tax |
0.031 |
By Interest - Saving Account |
0.000 |
|
To Service Tax and Other Charges |
0.007 |
|
|
|
To Securities Transaction Tax |
0.011 |
By Dividend |
0.002 |
|
To Mediclaim Insurance |
0.003 |
|
|
|
To Profession Tax |
0.002 |
By L.T. Capital Gain |
0.008 |
|
To HDFC |
0.138 |
|
|
|
To Interest paid to Telecare |
0.025 |
By Speculative Gain |
0.017 |
|
To Bank Charges |
0.000 |
|
|
|
To S.T. Capital Loss |
0.094 |
By Share of Profit from Firm |
|
|
|
|
Telecare |
|
|
|
|
Remuneration |
0.005 |
|
|
|
Profit |
0.001 |
|
|
|
|
|
|
|
|
By Balance c/f |
0.329 |
|
|
|
|
|
|
Total |
0.609 |
Total |
0.609 |
BALANCE SHEET AS ON
31.03.2010
|
Liabilities |
Amount (Rs. in
millions) |
Assets |
Amount (Rs. in
millions) |
|
Manali Shah |
0.085 |
Hitesh N. Shah |
|
|
|
|
Capital Account |
0.329 |
|
Smita N. Shah |
0.045 |
|
|
|
|
|
Jewellery |
0.178 |
|
Capital Account with Firm |
|
|
|
|
Telecare |
0.610 |
Kotak Securities Limited |
0.000 |
|
|
|
|
|
|
|
|
Sheetal H. Shah |
0.220 |
|
|
|
|
|
|
|
|
Public Provident Fund |
0.001 |
|
|
|
|
|
|
|
|
Saraswat Co-Operative Bank |
|
|
|
|
- Saving Account |
0.001 |
|
|
|
|
|
|
|
|
Cash on hand |
0.011 |
|
|
|
|
|
|
Total |
0.740 |
Total |
0.740 |
------------------------------------------------------------------------------------------------------------------------------
MRS. SMITA
N. SHAH
COMPUTATION
OF TOTAL INCOME
YEAR
ENDED 31.03.2010
(Rs.
in millions)
|
Share of Profit
from PFAS |
|
|
|
Telecare – Interest |
0.063 |
|
|
Less: Profession Tax |
0.003 |
0.060 |
|
|
|
|
|
|
|
|
|
Income from
Other Sources |
|
|
|
Interest received from Saving Bank |
|
0.000 |
|
|
|
|
|
|
Total
Net Income |
0.060 |
|
|
|
|
|
|
Income
U/S 288-A |
0.060 |
|
|
|
|
|
|
Tax
Payable |
NIL
|
Note: Income Exempt
1. Share of Profit from Firm Telecare Rs.552/-
U/S 10 (2A).
2. Dividend Rs.2998/- U/S 10 (34).
------------------------------------------------------------------------------------------------------------------------------
MRS. SMITA
N. SHAH
CAPITAL ACCOUNT FOR THE
YEAR ENDED 31.03.2010
|
Particulars |
Amount (Rs. in
millions) |
Particulars |
Amount (Rs. in
millions) |
|
To Drawings |
0.072 |
By Balance b/f |
1.110 |
|
|
|
|
|
|
To Share of Firm Tax |
0.031 |
By Interest - Bank |
0.000 |
|
|
|
|
|
|
To L.T. Capital Loss |
0.021 |
By Dividend |
0.003 |
|
|
|
|
|
|
To Service Tax and Others |
0.000 |
By Share of Profit from PFAS |
|
|
|
|
Telecare |
|
|
To Securities Transaction Charges |
0.000 |
Interest |
0.062 |
|
|
|
Profit |
0.001 |
|
To Profession Tax |
0.002 |
|
|
|
|
|
|
|
|
To Balance c/f |
1.050 |
|
|
|
|
|
|
|
|
Total |
1.176 |
Total |
1.176 |
BALANCE SHEET AS ON
31.03.2010
|
Liabilities |
Amount (Rs. in
millions) |
Assets |
Amount (Rs. in
millions) |
|
Capital Account |
1.050 |
Residential Flat at Shrenik Nagar |
0.305 |
|
|
|
|
|
|
Nitin P. Shah |
0.422 |
Capital Account with Firm Telecare |
0.679 |
|
Manali N. Shah |
0.157 |
|
|
|
|
|
Investments in Shares |
0.196 |
|
|
|
|
|
|
|
|
Kotak Securities Limited |
0.000 |
|
|
|
|
|
|
|
|
Sheetal H. Shah |
0.359 |
|
|
|
Hitesh N. Shah |
0.045 |
|
|
|
Jewellery |
0.041 |
|
|
|
|
|
|
|
|
Saraswat Co-Operative Bank |
0.004 |
|
|
|
|
|
|
|
|
Cash on hand |
0.000 |
|
|
|
|
|
|
Total |
1.629 |
Total |
1.629 |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
v Furniture
v Motor Car
v Delivery Van
v Computer
v Air Conditioner
v
------------------------------------------------------------------------------------------------------------------------------
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.44.58 |
|
|
1 |
Rs.71.75 |
|
Euro |
1 |
Rs.64.80 |
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.