MIRA INFORM REPORT

 

 

Report Date :

12.07.2011

 

IDENTIFICATION DETAILS

 

Name :

JPV REALTORS PRIVATE LIMITED

 

 

Registered Office :

1, Bharat Villa, Bhogilal Fadia Road, Kandivali (West), Mumbai – 400067, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

17.05.2008

 

 

Com. Reg. No.:

11-182342

 

 

Capital Investment / Paid-up Capital :

Rs.0.900 Million

 

 

CIN No.:

[Company Identification No.]

U70109MH2008PTC182342

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Builders and Developers

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (11)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track. There appears a huge accumulated losses being recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow.

 

The company can be considered for business dealing on a secured trade terms and conditions.

 

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 – June 30, 2010

 

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

India

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 :

1, Bharat Villa, Bhogilal Fadia Road, Kandivali (West), Mumbai – 400067, Maharashtra, India

E-Mail :

pssavla06@rediffmail.com

 

 

 

DIRECTORS

As on 30.09.2010

 

Name :

Mr. Jigar Prataprai Vora

Designation :

Director

Address :

1, Bharat Villa, Bhogilal Fadia Road, Kandivali (West), Mumbai – 400067, Maharashtra, India

Date of Birth/Age :

25.02.1968

Date of Appointment :

17.05.2008

DIN No. :

00021196

 

 

Name :

Mrs. Sheetal Jigar Vora

Designation :

Director

Address :

1, Bharat Villa, Bhogilal Fadia Road, Kandivali (West), Mumbai – 400067, Maharashtra, India

Date of Birth/Age :

06.12.1970

Date of Appointment :

17.05.2008

DIN No. :

02105512

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

 

Names of Shareholders

 

No. of Shares

Jigar Prataprai Vora

 

45000

Sheetal Jigar Vora

 

45000

Total

 

90000

 

As on 30.09.2010

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Builders and Developers

 

 

GENERAL INFORMATION

 

Bankers :

Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai – 400021, Maharashtra, India

 

 

Facilities :

Unsecured Loans

31.03.2010

(Rs. in Millions)

31.03.2009

(Rs. in Millions)

Jigar P. Vora

0.000

1.481

Divya Jyoti Diamonds Private Limited

5.074

0.000

MS Business Private Limited

6.975

0.000

Sambhav Export Private Limited

9.115

0.000

Unicon Exports Private Limited

5.068

0.000

Ventura Construction Private Limited

0.980

0.000

Yug Exim Private Limited

4.178

0.000

Sheetal J. Vora

0.020

0.019

Total

31.410

1.500

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Chandravadan M. Savla

Chartered Accountant 

Address :

Shop No. 7, Geetanjali Nagar, Opposite Saibaba Mandir, Saibaba Mandir Road, Borivali (West), Mumbai – 400092, Maharashtra, India

 

 

CAPITAL STRUCTURE

 

As on 31.03.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100000

Equity Shares

Rs.10/- each

Rs.1.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

90000

Equity Shares

Rs.10/-each

Rs.0.900 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2010

31.03.2009

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

0.900

0.100

2] Share Application Money

 

0.000

0.000

3] Reserves & Surplus

 

0.000

0.000

4] (Accumulated Losses)

 

(1.094)

(0.140)

NETWORTH

 

(0.194)

(0.040)

LOAN FUNDS

 

 

 

1] Secured Loans

 

0.000

0.000

2] Unsecured Loans

 

31.410

1.500

TOTAL BORROWING

 

31.410

1.500

DEFERRED TAX LIABILITIES

 

0.000

0.000

 

 

 

 

TOTAL

 

31.216

1.460

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

12.528

0.040

Capital work-in-progress

 

0.000

0.000

 

 

 

 

INVESTMENT

 

0.800

0.800

DEFERREX TAX ASSETS

 

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 
19.410

0.566

 

Sundry Debtors
 
0.000

0.000

 

Cash & Bank Balances
 
10.037

0.032

 

Other Current Assets
 
2.289

0.006

 

Loans & Advances
 
0.000

0.000

Total Current Assets
 
31.736

0.604

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
 
0.878

0.000

 

Other Current Liabilities
 
12.782

0.000

 

Provisions
 
0.219

0.024

Total Current Liabilities
 
13.879

0.024

Net Current Assets
 
17.857

0.580

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.031

0.040

 

 

 

 

TOTAL

 

31.216

1.460

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2010

31.03.2009

 

SALES

 

 

 

 

 

Income

 

 

 

Other Income

 

 

 

 

 

TOTAL                                     (A)

 

0.214

0.029

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Office Expenses

 

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                                     (B)

 

0.555

0.038

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

 

(0.341)

(0.009)

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

 

0.484

0.130

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

 

(0.825)

(0.139)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

 

0.093

0.000

 

 

 

 

 

 

NET LOSS (E-F)                                                (G)

 

(0.918)

(0.139)

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2010

31.03.2009

PAT / Total Income

(%)
 

(428.97)

(479.31)

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

(2.07)

(21.58)

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

4.73

3.47

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

(233.45)

(38.10)

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

2.29

25.17

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Performance Review :

 

During the year, the company has earned interest and rent income of Rs.0.214 Million as against Rs.0.029 Million in the previous year. The Net Loss before Tax wa Rs.0.918 Million as compared to Loss of Rs.0.139 Million last year.

 

Form 8 :

 

Corporate identity number of the company

U70109MH2008PTC182342

Name of the company

JPV REALTORS PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

1, Bharat Villa, Bhogilal Fadia Road, Kandivali (West), Mumbai – 400067, Maharashtra, India

This form is for

Creation of charge

Type of charge

Immovable property

Particular of charge holder

Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai – 400021, Maharashtra, India

Nature of instrument creating charge

Memorandum of Entry by Deposit of Title Deeds.

Date of instrument Creating the charge

27.11.2010

Amount secured by the charge

Rs.7.000 Millions

Brief of the principal terms an conditions and extent and operation of the charge

Rate of interest :

Applicable Rate : 12.5% (Linked to KMBHFRPLR)

 

Terms of repayment :

Equated Monthly Installment (EMI) of Rs.0.102 Million for 120 Months.

 

Extent and operation of the charge :

First and exclusive charge on Immovable properties of the Company in favour of Kotak Mahindra Bank Limited as security for repayment of financial facilities granted by the Bank to the Company.

Short particulars of the property or asset(s) charged (including complete address and location of the property)

B 401,402 on 4th floor, in Pratap Garden, Mathurdas Road, kandivali (W), Mumbai - 400067, bearing S.No.15, H -No.6, CTS No.1145, 1145/1 to 23 of Village Kandivali, Taluka Borivali, MSD.

 

Fixed Assets :

 

  • Computer System
  • Motor Bike
  • CCD Camera
  • Furniture and Fixtures
  • Office
  • Shop

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.44.37

UK Pound

1

Rs.70.84

Euro

1

Rs.62.96

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILIRY

1~10

--

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

1

--RESERVES

1~10

--

--CREDIT LINES

1~10

--

--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

 

11

 

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

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.