MIRA
INFORM REPORT
|
Report Date : |
08.06.2011 |
Note: The registered office of the company has been shifted from Lotiya Palace, Opposite Citi Bank, Linking Road, Khar (W) Mumbai, Maharashtra, India to the present address w.e.f. 04.01.2008
IDENTIFICATION DETAILS
|
Name : |
SHREE AHUJA PROPERTIES PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Room No. 10, Ground Floor, 33/B, Seva Nagar, Khar West, Mumbai-400052,
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Country : |
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|
Financials (as
on) : |
31.03.2010 |
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|
|
|
Date of
Incorporation : |
25.10.1999 |
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|
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|
Com. Reg. No.: |
11-122359 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.24.650
Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U45200MH1999PTC122359 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS34731E |
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PAN No.: [Permanent Account No.] |
AAECS5561R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Real Estate Builders and Developers. |
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No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (19) |
|
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 |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a company having moderate track. There appears some
accumulated losses recorded by the company. However, trade relations are
reported as fair. Payments are reported to be slow. The company can be considered fro business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
Management Non Co-Operative
LOCATIONS
|
Registered Office : |
Room No. 10, Ground Floor, 33/B, Seva Nagar, Khar West, Mumbai-400052,
|
|
Tel. No.: |
91-22-66285000 |
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Fax No.: |
91-22-66285050 |
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E-Mail : |
DIRECTORS
As on 29.09.2010
|
Name : |
Mr. Jagdish Bhagwandas Ahuja |
|
Designation : |
Director |
|
Address : |
111, Soona Villa, |
|
Date of Birth/Age : |
23.11.1950 |
|
Date of Appointment : |
25.10.1999 |
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|
|
|
Name : |
Mr. Gautam Jagdish Ahuja |
|
Designation : |
Director |
|
Address : |
111, Soona Villa, |
|
Date of Birth/Age : |
18.01.1981 |
|
Date of Appointment : |
18.03.2006 |
|
|
|
|
Name : |
Mr. Sunil Sunderdas Rawlani |
|
Designation : |
Director |
|
Address : |
B-205, Pushpanjali, Vaswani Marg, Seven Bunglows, Andheri (West),
Mumbai-400058, |
|
Date of Birth/Age : |
20.07.1962 |
|
Date of Appointment : |
01.12.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Jagdish Bhagwandas Ahuja |
|
187998 |
|
Gopal Bhagwandas Ahuja |
|
48002 |
|
Keepsade Properties Private Limited, |
|
180000 |
|
Magic Properties Private Limited, |
|
45000 |
|
Gautam Jagdish Ahuja |
|
1295000 |
|
Gopaldas Kumar Ramesh |
|
9000 |
|
Sheetal Gautam Ahuja |
|
700000 |
|
Topaim Properties Private Limited, |
|
5 |
|
Ahuja Housing Projects Private Limited, |
|
5 |
|
Ashtavinayaka Builders and Developers Private Limited, |
|
5 |
|
Cyber Active Technologies ( |
|
5 |
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Hi-Tech Global Infrastructure Private Limited, |
|
5 |
|
Valantine Leasing Private Limited, |
|
5 |
|
|
|
|
|
Total |
|
2465030 |
As on 29.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
9.13 |
|
Directors
or relatives of directors |
|
90.87 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Real Estate Builders and Developers. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
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Bankers : |
The Cosmos Co-Operative Bank Limited, Vile Parle Branch, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
K N G and Associates Chartered Accountant |
|
Address : |
11/A, Gulmohar, |
CAPITAL STRUCTURE
As on 29.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2490000 |
Equity Shares |
Rs.10/- each |
Rs.24.900 Millions |
|
10000 |
Preferences Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
Total |
|
Rs.25.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2465030 |
Equity Shares |
Rs.10/- each |
Rs.24.650
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
24.650 |
24.650 |
24.650 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
43.500 |
43.500 |
43.500 |
|
|
4] (Accumulated Losses) |
(20.821) |
(21.093) |
(21.198) |
|
|
NETWORTH |
47.329 |
47.057 |
46.952 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
294.568 |
310.811 |
153.447 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
294.568 |
310.811 |
153.447 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
341.897 |
357.868 |
200.399 |
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|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.038 |
1.403 |
0.962 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.486 |
3.228 |
2.909 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
846.237
|
502.468 |
344.993 |
|
|
Sundry Debtors |
1.588
|
2.785 |
1.722 |
|
|
Cash & Bank Balances |
0.968
|
0.463 |
0.475 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
71.624
|
392.632 |
316.961 |
|
Total
Current Assets |
920.417
|
898.348 |
664.151 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3.942
|
4.219 |
1.411 |
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
589.105
|
540.895 |
466.216 |
|
Total
Current Liabilities |
593.047
|
545.114 |
467.627 |
|
|
Net Current Assets |
327.370
|
353.234 |
196.524 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.003 |
0.003 |
0.004 |
|
|
|
|
|
|
|
|
TOTAL |
341.897 |
357.868 |
200.399 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
0.000 |
0.000 |
|
|
|
Closing WIP |
|
846.237 |
502.466 |
|
|
|
Dividend Received |
|
0.015 |
0.015 |
|
|
|
Share of Profit |
|
0.257 |
0.319 |
|
|
|
TOTAL (A) |
|
846.509 |
502.800 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Opening WIP |
|
502.467 |
344.993 |
|
|
|
Development Expenses |
|
178.905 |
64.837 |
|
|
|
Communication Expenses |
|
0.569 |
0.335 |
|
|
|
Corporate Expenses |
|
0.242 |
0.170 |
|
|
|
Office Expenses |
|
21.860 |
6.856 |
|
|
|
Professional Charges |
|
3.447 |
2.869 |
|
|
|
Traveling Expenses |
|
2.467 |
0.307 |
|
|
|
Human Resource Expenses |
|
10.648 |
7.779 |
|
|
|
TOTAL (B) |
|
720.605 |
428.146 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
125.904 |
74.654 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
124.431 |
74.049 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
1.473 |
0.605 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
1.200 |
0.272 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
0.273 |
0.333 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
0.131 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
0.273 |
0.202 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR YEAR TAX
ADJUSTMENT |
|
0.000 |
0.098 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(21.094) |
(21.198) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(20.821) |
(21.094) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
0.11 |
0.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.03
|
0.04 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.03
|
0.04 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.01 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
18.75
|
18.19 |
13.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55
|
1.65 |
1.42 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
3.942
|
4.219 |
1.411 |
Partial Details of
Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Asis Overseas ( |
0.171
|
0.171 |
|
Bharat
Enterprises |
0.235
|
0.000 |
|
Damle and
Thakurdesai |
0.037
|
0.037 |
|
J K Shroff and
Sons |
0.102
|
0.000 |
|
J Mukesh
Enterprises |
0.277
|
0.000 |
|
JWT |
0.000
|
0.982 |
|
Relcon
Infraprojects Private Limited |
1.077
|
0.818 |
|
Topaim Properties
Private Limited |
0.864
|
0.970 |
Financial Result:
The company has earned a net profit of Rs.0.273 million after tax during
the year.
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U45200MH1999PTC122359 |
|
Name of the
company |
SHREE AHUJA PROPERTIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Room No. 10, Ground Floor, 33/B, Seva Nagar, Khar West, Mumbai-400052,
|
|
Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge Immovable
Property |
|
Particular of
charge holder |
The Cosmos Co-Operative Bank Limited, Vile Parle Branch, |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Composite deed of
mortgaged and hypothecation for creation of first charge. |
|
Date of
instrument Creating the charge |
30.03.2010 |
|
Amount secured by
the charge |
Rs.260.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 16.5% p.a. at
such rate as maybe fixed by bank from time to time. Terms of
Repayment 24 months expiring
on February 2013 including repayment period starting from August 2012 subject
to review within 12 months. Margin 40% in bank’s
favour Extent and
Operation of the charge This is project
term loan |
|
Short particulars
of the property charged |
I)
Mortgage
of plot no. 33B bearing CTS no 859E, SS VII situated at 3rd Road
Khar West Mumbai within Registration district and sub district o Mumbai city
and suburban district and within limits of II)
Greater
Mumbai Municipal Corporation and more III)
Mortgage
of all that piece and parcel of land with messuage, tenements or dwelling
house standing thereon lying and being at IV)
Village
Bandra Taluka South Salesette in the registration sub dist of Bandra Dist
Bombay suburban in the island of Bombay and bearing sno 3134/1.314 C and NA
no. 370 and bearing city V)
Survey
nos C/1651, C/1653 and C/1654 (P) and assessed uner H ward no. 2182 and
street no. 614 VI)
Mortgage
of all that piece and parcel of flat no. 111 and 112 each situated on 11th
floor of the building known as Soona Villa standing on piece of land bearing
plot no. 11 SS VI Kantwadi VII)
Scheme
having CTS no 691, Bandra west, Mumbai within registration district and sub district
on Mumbai city and Mumbai suburban district and within limits of Greater
Mumbai Municipal Corporation VIII)
Together
with proportionate rights in the total land under the building and together
with right and authority to enjoy and avail the common areas and facilities
appurtenant to those flats and IX)
Together
with right of ways, easements and parking made available to those flats more X)
Hypothecation
of debtors, WIP, TDR/FSI with respect of all that piece and parcel of
property and more |
Fixed Assets:
- Computer
- Motor Car
- Air Conditioner
- Furniture and Fixtures
- Office Equipments
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.44.74 |
|
|
1 |
Rs.73.25 |
|
Euro |
1 |
Rs.65.48 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
19 |
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.