MIRA
INFORM REPORT
|
Report Date : |
10.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
ATHARVA ENERGY PRIVATE LIMITED (w.e.f. 28.05.2010) |
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Formerly Known
As : |
ATHARVA NETWORKS PRIVATE LIMITED |
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Registered
Office : |
Malad Highway View CHS Limited, Shop No.1, A3 Wing, Ground Floor, Near
Kurar Police Station, Malad (East), Mumbai – 400097, Maharashtra |
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Country : |
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Date of
Incorporation : |
06.11.2009 |
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Com. Reg. No.: |
196889 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U40102MH2009PTC196889 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA36526A |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Infrastructure |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and in the process of have sizeable projects in
hand. The valuation report provided is of a lesser value than the transaction
amount. The networth statement however seems to be satisfactory. No further
details or payment could be made available. It would be advisable to take adequate securities while dealing with
the subject. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Samir |
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Designation : |
Chief Executive Officer |
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Contact No.: |
91-9323038520 |
|
Date : |
08.06.2011 |
LOCATIONS
|
Registered Office : |
Malad Highway View CHS Limited, Shop No.1, A3 Wing, Ground Floor, Near
Kurar Police Station, Malad (East), Mumbai – 400097, Maharashtra, India |
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Tel. No.: |
91-22-28417982 |
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Mobile No.: |
91-9323038520 (Mr. Samir) |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. Manish Jayantilal Rach |
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Designation : |
Director |
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Address : |
B/203, Vasant Sarita 90 Feet Road, Kandivali (East), Mumbai – 400101,
Maharashtra, India |
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Date of Birth/Age : |
19.01.1969 |
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Qualification : |
CA |
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Name : |
Mr. Anil Vijaynarayan Rai |
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Designation : |
Director |
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Address : |
19/302, Chandresh Accord, Silver Park, Mira Road, Thane – 401107,
Maharashtra, India |
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Date of Birth/Age : |
02.02.1963 |
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Qualification : |
B. Com. |
KEY EXECUTIVES
|
Name : |
Mr. Samir |
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Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Manish Jayantilal Rach |
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5000 |
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Anil Vijaynarayan Rai |
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5000 |
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Total |
|
10000 |
BUSINESS DETAILS
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Line of Business : |
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GENERAL INFORMATION
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No. of Employees : |
20 (Approximately) |
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Bankers : |
· Central Bank Andheri (East), Mumbai, Maharashtra, India · Indian Overseas Bank |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
P. G. Khandekar and Company Chartered Accountant |
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Address : |
Saibaba Complex, Goregaon (East), Mumbai, Maharashtra, India |
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Subsidiaries Company : |
· Atharva Infracomm India Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Share |
Rs.10/- each |
Rs.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
10000 |
Equity Share |
Rs.10/- each |
Rs.0.100 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT AVAILABLE
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The Registered Office of the company has been shifted from 209-210,
Rushabh Complex, 2nd floor, Opposite Fun Republic Link Road, Andheri
(West), Mumbai – 400053, Maharashtra, India, to the present address w.e.f.
16.03.2010.
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ATHARVA
INFRACOMM INDIA LIMITED
(SUBSIDIARY
COMPANY)
BALANCE
SHEET
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
|
31.03.2011 (Provisional) |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
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1] Share Capital |
|
70.000 |
24.664 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
18.131 |
6.511 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
88.131 |
31.175 |
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LOAN FUNDS |
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|
|
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1] Secured Loans |
|
108.308 |
56.086 |
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2] Unsecured Loans |
|
0.817 |
3.077 |
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TOTAL BORROWING |
|
109.125 |
59.163 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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|
|
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|
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TOTAL |
|
197.256 |
90.338 |
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|
|
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|
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APPLICATION OF FUNDS |
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|
|
|
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FIXED ASSETS [Net Block] |
|
11.575 |
4.983 |
|
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Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
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INVESTMENT |
|
0.200 |
0.200 |
|
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DEFERREX TAX ASSETS |
|
0.000 |
1.289 |
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|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
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Inventories |
|
73.482 |
11.889 |
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Sundry Debtors |
|
131.379 |
197.786 |
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Cash & Bank Balances |
|
4.434 |
19.687 |
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Other Current Assets |
|
0.000 |
43.145 |
|
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Loans & Advances |
|
47.136 |
12.615 |
|
Total
Current Assets |
|
256.431 |
285.122 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
14.179 |
176.291 |
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Other Current Liabilities |
|
48.893 |
19.612 |
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Provisions |
|
7.933 |
5.427 |
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Total
Current Liabilities |
|
71.005 |
201.330 |
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Net Current Assets |
|
185.426 |
83.792 |
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MISCELLANEOUS EXPENSES |
|
0.055 |
0.074 |
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|
|
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TOTAL |
|
197.256 |
90.338 |
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PROFIT
& LOSS ACCOUNT
(RS. IN MILLIONS)
|
|
PARTICULARS |
|
31.03.2011 (Provisional) |
31.03.2010 |
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SALES |
|
|
|
|
|
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Income from Operation |
|
414.846 |
243.121 |
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|
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Other Income |
|
0.011 |
3.889 |
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TOTAL (A) |
|
414.857 |
247.010 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
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Increase/ (Decrease) in Closing Stock |
|
(61.592) |
(11.889) |
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|
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Purchases |
|
217.455 |
77.824 |
|
|
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Project Expenses |
|
191.922 |
154.751 |
|
|
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Payments and Provision for Employees |
|
18.245 |
6.630 |
|
|
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Administrative Other Expenses |
|
14.722 |
5.617 |
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Preliminary Expenses W/off |
|
0.018 |
0.018 |
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|
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TOTAL (B) |
|
380.770 |
232.951 |
|
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|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
34.087 |
14.059 |
|
|
|
|
|
|
|
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Less |
FINANCIAL
EXPENSES (D) |
|
12.340 |
3.256 |
|
|
|
|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
21.747 |
10.803 |
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
1.631 |
0.154 |
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|
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PROFIT BEFORE
TAX (E-F) (G) |
|
20.116 |
10.649 |
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Less |
TAX (H) |
|
8.496 |
4.138 |
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|
|
|
|
|
|
|
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PROFIT AFTER TAX
(G-H) (I) |
|
11.620 |
6.511 |
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|
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
6.511 |
0.000 |
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|
|
|
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|
BALANCE CARRIED
TO THE B/S |
|
18.131 |
6.511 |
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------------------------------------------------------------------------------------------------------------------------------
STATEMENT
OF NET WORTH AS ON 31.03.2011
(MR.
MANISH RACH)
(RS. IN MILLIONS)
|
Particulars |
Amount |
||
|
ASSETS |
|
|
|
|
Fixed Assets |
|
|
|
|
Residential Property 1 |
10.528 |
|
|
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Residential Property 2 |
0.875 |
11.403 |
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|
Vehicles |
|
0.979 |
|
|
Computers |
|
0.002 |
|
|
Investment |
|
23.873 |
|
|
Sundry Deposit |
|
0.950 |
|
|
Loans and Advance |
|
6.355 |
|
|
Sundry Debtors |
|
2.978 |
|
|
Cash Balance |
|
0.029 |
|
|
|
|
|
|
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TOTAL ASSETS |
|
|
46.569 |
|
|
|
|
|
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LESS: LIABILITIES |
|
|
|
|
Home Loan |
|
|
|
|
Bank of Maharashtra |
0.213 |
|
|
|
ICICI Bank Limited |
8.072 |
8.285 |
|
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HDFC Car Loan |
|
0.642 |
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|
ICICI Bank Limited Car Loan |
|
0.106 |
|
|
|
|
|
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TOTAL LIABILITIES |
|
|
9.033 |
|
|
|
|
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|
NET WORTH |
|
|
37.536 |
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STATEMENT
OF NET WORTH AS ON 31.03.2011
(MR.
ANIL RAI)
(RS. IN MILLIONS)
|
Particulars |
Amount |
|
|
ASSETS |
|
|
|
Fixed Assets |
|
|
|
Residential Property |
10.000 |
|
|
|
|
|
|
Jewellery |
0.175 |
|
|
|
|
|
|
Investment |
42.133 |
|
|
|
|
|
|
Current Assets |
|
|
|
Loans and Advance |
1.379 |
|
|
TDS Receivable |
0.004 |
|
|
Cash Balance |
0.020 |
|
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Bank Balance |
0.194 |
|
|
|
|
|
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TOTAL ASSETS |
|
53.905 |
|
|
|
|
|
LESS: LIABILITIES |
|
0.000 |
|
|
|
|
|
NET WORTH |
|
53.905 |
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SUMMARY
STATEMENT OF PROJECT PROGRESS REPORT FOR THE FY 2010-11
|
Name of Projects |
WTTIL |
Reliance |
GTL |
KMC Road Project (Mishra Associates) |
Simplex Infrastructure |
Jyoti Structures Limited |
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Project Worth (Rs. In Millions) |
290.000 |
1.500 |
3.000 |
110.000 |
158.141 |
30.000 |
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Total Length |
NA |
NA |
NA |
9.181 km |
25 kms |
50 kms |
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Total Towers |
372 |
134 |
12 |
NA |
75 |
200 |
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Date of Begning |
01.04.2010 |
01.09.2010 |
01.07.2010 |
01.12.2010 |
20.01.2011 |
01.08.2010 |
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Expected Date of Completion |
Running Project |
Running Project |
Running Project |
30.06.2011 |
30.06.2011 |
31.03.2011 |
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Total provisional Completion by 31.03.2011 (Rs. In Millions) |
280.656 |
1.454 |
1.400 |
55.091 |
32.016 |
29.581 |
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Remarks |
Telecom Running Business |
Telecom Running Business |
Telecom Running Business |
Road Execution Including Materials |
Power Transmission Tower Execution Including Materials |
Power Transmission Tower Execution only |
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VALUATION
REPORT
GENERAL
INFORMATION
|
Ref. No. |
YPCVL / 1042/ CBI/ 2011-12 |
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Purpose for which the valuation is made |
To ascertain present FMV |
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Date of Inspection |
26.05.2011 |
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Date on which the valuation is made |
30.05.2011 |
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Name of the owner (s) and his/ their address
(es) with Phone No. (Details of share of each owner in
case of joint ownership). |
Purchasers: Mrs. Madhuri A. Rai and Mr. Anil Rai Seller: Mr. Ashvin Jagdishbhai Patel Flat No. 2303, 23rd Floor, B wing, Evershine
Cosmic Building, Off Link Road, Adarsh Nagar, Behind Morya Estate, Andheri
(W), Mumbai. |
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Brief Description |
The proposed residential property Flat No.
2303 on 23rd Floor in Evershine Cosmic Building situated at above
address is about 2 kms. from Andheri (W) railway station. All the civic
amenities are nearby within easy reach. The proposed building is of Basement + Stilt
+ Podium + 25 Upper floors. It is RCC frame structure with RCC slabs, beams,
columns etc., and having R.C.C. staircase and 2 lifts to access upper floors. Nearest Landmark: Behind Morya Estate Property Bounded by: East: Prathmesh Complex West: Slum Area North: Open Plot South: Morya Estate Proposed Accommodation: Accommodation provided in flat consists of 1
hall, 2 bedrooms, 1 Kitchen, 1 W.C. and bath. (i.e. 2 BHK) Proposed - Amenities of the property: Vitrified tiles flooring, aluminum sliding
windows, teak wood doors, casing capping wiring and concealed plumbing,
toilet consist of ceramic tiles flooring etc. Area: Measurement not possible as the building is
under construction — 67% work completed. As per plan carpet area is 632 sq. ft. As per agreement Carpet area 657 sq. ft., with 40% loading, Super
Built up Area comes to 920 sq. ft., which is considered for valuation. A) Notes and Limitations: 1) Property identified with Mr. Gupta, site
person. No identification marks found as the building is under construction —
67% work completed. 2) They consider the area given in the
agreement, declared by the party and submitted for registration with the
government authorities as final for valuation purpose. Any area that is not
stated in the agreement is not considered for valuation. B) Disclaimers and Caveats: 1. The estimated future life of the building
/ structure considered on the basis of data available from the site enquiries
/ information etc. as the case may be. Maximum age of structure considered 60
years. The Valuation is based on their experience and
knowledge and this is an opinion only and does not stand as a guarantee for
the value it can fetch if disposed, due to any emergency, in future. The report is issued at the specific request
of the party for specific purpose and the said report is not valid if the
purpose of use and party is different. The legal documents pertaining to the
ownership of the above said property has been referred to on its face value
and that is presumed that Bank has got the same verified through its legal
counsel. They do not certify the veracity of the documents. This report does
not certify valid or legal or marketable title of any of the parties over the
property. The report does not cover verification of ownership, title
clearance, or legality and subject to adequacy of engineering/ structure
design. The valuation is only for the use of the
party to whom it is addressed and no responsibility is accepted to any third
party for the whole or any part of its contents. Encumbrances of loan, Government and other
dues, stamp duty, registration charges, transfer charges etc. if any are not
considered in the valuation. They have assumed that the assets are free from
encumbrances. The report should be read along with
disclaimers. The value given in their report is only an opinion on the FMV as
on date. If there is any opinion from others/ Valuers about increase in the
value of the assets valued by them, They should not be held responsibility as
the views vary from person to person and based on circumstances. The principle
of “BUYERS BEWARE” is applicable in case of any sale/ purchased of assets. As an abundant precaution the bank may
consider the obtention of the CIBIL REPORT of the customers before
disbursement/ enhancement of the loan to safeguard the interests of the bank
from probable loss due to disbursal of loan amount. The valuers should not be
held responsible due to the deviations of the bank for any reasons. It should be noted that YPCVL’s value
assessments are based upon the facts and evidence available at the time of
assessment. It is therefore recommended that the value assessments be
periodically reviewed. |
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Location of the property |
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A] Plot No./Survey No. |
CTS Nos. 567, 567/1 to 144, 574, 574/1 to
86, 575, 575/1 to 52, 576, 577, 578, 584 |
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Door No. |
Flat No.2303 |
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T. S. No./ Village |
Village – Oshiwara |
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Ward/ Taluka |
Ward – K ward |
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Mandal/ District |
-- |
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Postal address of the property |
Flat No. 2303, 23rd Floor, B wing,
Evershine Cosmic Building, Off Link Road, Adarsh Nagar, Behind Marya Estate,
Andheri (W), Mumbai. |
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City/ Town |
Mumbai |
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Residential/ Commercial/ Industrial
Area |
Residential |
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Classification of Area |
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High/ Middle/ Poor |
Middle Class |
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Urban/ Semi-Urban / Rural |
Urban |
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Coming under Corporation limit/ Village
Panchayant/ Municipality. |
Village Oshiwara CTS No.584 |
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Boundaries of the property |
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North |
Open Plot |
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South |
Morya Estate |
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East |
Prathmesh Complex |
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West |
Slum Area |
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Dimensions of the site |
A as per the deed |
B Actual |
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Extent of the site |
Carpet Area – 657 sq. ft. Agreement |
Measurement not possible |
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Extent of the site considered for valuation
(least of 13a and 13b) |
S. Built up area – 920 sq. ft. – (with 40%
loading on agreement carpet area) |
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Whether occupied by the owner/ tenant? If
occupied by tenant since how long? Rent received per month. |
Under Construction |
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APARTMENT BUILDING |
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Nature of the Apartment |
Evershine Cosmic Building |
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Location |
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T. S. No. |
CTS Nos.567, 567/1 to 144, 574, 574/1 to 86,
575, 575/1 to 52, 576, 577, 578, 584 |
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Village / Municipality/ Corporation |
Village – Oshiwara |
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Door No. Street or Road (Pin Code) |
Flat No. 2303 |
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Description of the Locality Residential/
Commercial/ Mixed. |
Residential flat |
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Year of Construction |
Year- 2010 |
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Number of floors |
Basement + Stilt+ Podium + 25 Upper floors —
proposed |
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Type of structure |
RCC framed structure |
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Number of Dwelling Units in the Building. |
Under construction |
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Quality of Construction |
Under construction |
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Appearance of the Building |
Under construction |
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Maintenance of the Building |
Under construction |
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Facilities available |
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Lift |
2 lifts (Proposed) |
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Protected Water supply |
Yes (Proposed) |
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Underground Sewerage |
Yes (Proposed) |
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Car Parking – Open/ Covered |
Open and Covered |
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Is compound wall existing? |
Brick Wall |
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Is pavement laid around the building? |
RCC |
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FLAT |
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The floor in which the flat is situated |
23rd Floor |
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Door No. of the Flat |
Flat No. 2303 |
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Specifications of the Flat |
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Roof |
RCC slab |
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Flooring |
Vitrified Flooring - Proposed |
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Doors |
Teak wood flush - Proposed |
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Windows |
Aluminum sliding windows- proposed |
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Fittings |
Ordinary |
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Finishing |
Normal |
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Se Deed executed in the name of |
Purchasers: Mrs. Madhuri A. Rai and Mr. Anil Rai Seller: Mr. Ashvin Jagdishbhai Patel |
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What is the undivided area of land as per
Sale Deed? |
5006.40 sq. mtrs |
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What s the plinth area of the flat? |
S. Built up area - 920 sq. ft.- with 40%;
loading on agreement carpet area |
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What is the Carpet area of the Flat? |
Carpet area - 657 sq ft - agreement
Measurement not possible |
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Is it Posh/ Class/ Medium/ Ordinary? |
Medium |
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Is it being used for Residential or
Commercial purpose? |
Residential |
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Is it owner occupied or let out? |
Under construction |
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MARKETABILITY |
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How is the marketability? |
Good |
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What are the factors favouring for an extra
Potential Value? |
All civic amenities are nearby and within
easy reach |
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RATE |
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After Analyzing the comparable sale
instances, what is the composite rate for a similar flat with same
specifications in the adjoining locality? |
Rs.11000/-to 15000/-per sq. ft. |
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Assuming it is a new construction, what is
the adopted basic composite rate of the flat under valuation after comparing
with the specifications and other factors with the flat under comparison
(given details). |
Rs.11000/-to 13000/- per sq. ft. |
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Break-up for the Rate |
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Building + Services |
Rs.2000/- per sq. ft. |
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Land + Others |
Rs.10500/- per sq. ft. |
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COMPOSITE RATE ADOPTED AFTER DEPRECIATION |
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Depreciated Building Rate |
Under construction |
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Replacement Cost of flat with Services |
Under construction |
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Present Age of building |
Under construction — 67% work completed |
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Residual Life of Building |
60 years after completion (Subject to proper
and regular maintenance of the
building) |
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Total Composite Rate |
Rs.12500/- per sq. ft. |
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DETAILS OF VALUATION
Value of the property at which it can be
sold in the open market at a particular time free from forced value or
sentimental value. The market value need not be the same as the present
value. Market value may be less than the present value. Market value of the
any property gets affected at least by the ten factors: Economy, Physical,
Legal, Social Utility, Marketability, Transferability, Scarcity, Location and
the most important factor Demand.
|
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|
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Distress Sale Value on Proportionate Value |
Rs.6.164 Millions |
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Value for Insurance purpose After Completion (Structure) |
Rs.1.840 Millions |
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ANNEXURE FOR UNDER
CONSTRUCTION PROPERTIES
|
Name of the bank |
Central Bank of India |
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Branch |
Branch: Andheri (East) |
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Property Address |
Flat No 2303, 23rd Floor, B wing,
Evershine Cosmic Building, Off Link Road, Adarsh Nagar, Behind Marya Estate, Andheri
(West), Mumbai. |
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|
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Name of the builder with Telephone Number |
Seller: Mr. Ashvin Jagdishbhai Patel |
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Name of the Borrower |
Purchasers: Mrs. Madhuri A. Rai and Mr. Anil Rai |
Work Completed - 67%
|
Nature of work completed |
% of work
completed |
Cumulative Total |
|
|
|
|
|
Foundation and Plinth |
20% |
20% |
|
Entire RCC |
24% |
44% |
|
Brick Work (Internal and External) |
12% |
56% |
|
Plaster (Internal and External) |
06% |
62% |
|
Flooring and Tiling |
05% |
67% |
WORK NOT COMPLETED – 33%
|
Nature of work not completed |
% of work not
completed |
Cumulative Total |
|
|
|
|
|
Entire RCC |
06% |
06% |
|
Brick Work (Internal and External) |
03% |
09% |
|
Plaster (Internal and External) |
04% |
13% |
|
Flooring and Tiling |
05% |
18% |
|
Wood Work (Door and Framed, Electrocution) +
Painting and Plumbing |
10% |
28% |
|
Finishing work |
05% |
33% |
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT
GENERAL
INFORMATION
|
Ref. No. |
YPCVL / 1043/ CBI/ 2011-12 |
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Purpose for which the valuation is made |
To ascertain present FMV |
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Date of Inspection |
26.05.2011 |
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Date on which the valuation is made |
30.05.2011 |
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Name of the owner (s) and his/ their address
(es) with Phone No. (Details of share of each owner in
case of joint ownership). |
Purchasers: Mrs. Madhuri A. Rai and Mr. Anil Rai Seller: Mr. Ashvin Jagdishbhai Patel Flat No. 2304, 23rd Floor, B
wing, Evershine Cosmic Building, Off Link Road, Adarsh Nagar, Behind Morya
Estate, Andheri (W), Mumbai. |
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|
Brief Description |
The proposed residential property Flat No.
2304 on 23rd Floor in Evershine Cosmic Building situated at above
address is about 2 kms. from Andheri (W) railway station. All the civic amenities
are nearby within easy reach. The proposed building is of Basement + Stilt
+ Podium + 25 Upper floors. It is RCC frame structure with RCC slabs, beams,
columns etc., and having R.C.C. staircase and 2 lifts to access upper floors. Nearest Landmark: Behind Morya Estate Property Bounded by: East: Prathmesh Complex West: Slum Area North: Open Plot South: Morya Estate Proposed Accommodation: Accommodation provided in flat consists of 1
hall, 2 bedrooms, 1 Kitchen, 1 W.C. and bath. (i.e. 2 BHK) Proposed - Amenities of the property: Vitrified tiles flooring, aluminum sliding
windows, teak wood doors, casing capping wiring and concealed plumbing,
toilet consist of ceramic tiles flooring etc. Area: Measurement not possible as the building is
under construction — 67% work completed. As per plan carpet area is 632 sq. ft. As per agreement Carpet area 657 sq. ft., with 40% loading, Super
Built up Area comes to 920 sq. ft., which is considered for valuation. A) Notes and Limitations: 1) Property identified with Mr. Gupta, site
person. No identification marks found as the building is under construction —
67% work completed. 2) They consider the area given in the
agreement, declared by the party and submitted for registration with the
government authorities as final for valuation purpose. Any area that is not
stated in the agreement is not considered for valuation. B) Disclaimers and Caveats: 1. The estimated future life of the building
/ structure considered on the basis of data available from the site enquiries
/ information etc. as the case may be. Maximum age of structure considered 60
years. The Valuation is based on their experience
and knowledge and this is an opinion only and does not stand as a guarantee
for the value it can fetch if disposed, due to any emergency, in future. The report is issued at the specific request
of the party for specific purpose and the said report is not valid if the
purpose of use and party is different. The legal documents pertaining to the
ownership of the above said property has been referred to on its face value
and that is presumed that Bank has got the same verified through its legal
counsel. They do not certify the veracity of the documents. This report does
not certify valid or legal or marketable title of any of the parties over the
property. The report does not cover verification of ownership, title
clearance, or legality and subject to adequacy of engineering/ structure
design. The valuation is only for the use of the party
to whom it is addressed and no responsibility is accepted to any third party
for the whole or any part of its contents. Encumbrances of loan, Government and other
dues, stamp duty, registration charges, transfer charges etc. if any are not
considered in the valuation. They have assumed that the assets are free from
encumbrances. The report should be read along with
disclaimers. The value given in their report is only an opinion on the FMV as
on date. If there is any opinion from others/ Valuers about increase in the
value of the assets valued by them, They should not be held responsibility as
the views vary from person to person and based on circumstances. The
principle of “BUYERS BEWARE” is applicable in case of any sale/ purchased of
assets. As an abundant precaution the bank may
consider the obtention of the CIBIL REPORT of the customers before
disbursement/ enhancement of the loan to safeguard the interests of the bank
from probable loss due to disbursal of loan amount. The valuers should not be
held responsible due to the deviations of the bank for any reasons. It should be noted that YPCVL’s value
assessments are based upon the facts and evidence available at the time of
assessment. It is therefore recommended that the value assessments be periodically
reviewed. |
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|
Location of the property |
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|
A] Plot No./Survey No. |
CTS Nos. 567, 567/1 to 144, 574, 574/1 to
86, 575, 575/1 to 52, 576, 577, 578, 584 |
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Door No. |
Flat No.2304 |
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T. S. No./ Village |
Village – Oshiwara |
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Ward/ Taluka |
Ward – K ward |
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Mandal/ District |
-- |
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|
Postal address of the property |
Flat No. 2304, 23rd Floor, B
wing, Evershine Cosmic Building, Off Link Road, Adarsh Nagar, Behind Marya
Estate, Andheri (W), Mumbai. |
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City/ Town |
Mumbai |
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Residential/ Commercial/ Industrial
Area |
Residential |
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Classification of Area |
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High/ Middle/ Poor |
Middle Class |
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Urban/ Semi-Urban / Rural |
Urban |
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Coming under Corporation limit/ Village
Panchayant/ Municipality. |
Village Oshiwara CTS No.584 |
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Boundaries of the property |
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North |
Open Plot |
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South |
Morya Estate |
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East |
Prathmesh Complex |
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West |
Slum Area |
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|
|
|||||||||||||||||||||||||||||||||||||
|
Dimensions of the site |
A as per the deed |
B Actual |
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|
Extent of the site |
Carpet Area – 657 sq. ft. Agreement |
Measurement not possible |
||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||
|
Extent of the site considered for valuation
(least of 13a and 13b) |
S. Built up area – 920 sq. ft. – (with 40%
loading on agreement carpet area) |
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|
|
|||||||||||||||||||||||||||||||||||||
|
Whether occupied by the owner/ tenant? If
occupied by tenant since how long? Rent received per month. |
Under Construction |
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APARTMENT BUILDING |
||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||
|
Nature of the Apartment |
Evershine Cosmic Building |
|||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||
|
Location |
|
|||||||||||||||||||||||||||||||||||||
|
T. S. No. |
CTS Nos.567, 567/1 to 144, 574, 574/1 to 86,
575, 575/1 to 52, 576, 577, 578, 584 |
|||||||||||||||||||||||||||||||||||||
|
Village / Municipality/ Corporation |
Village – Oshiwara |
|||||||||||||||||||||||||||||||||||||
|
Door No. Street or Road (Pin Code) |
Flat No. 2304 |
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|
Description of the Locality Residential/
Commercial/ Mixed. |
Residential flat |
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|
|
|
|||||||||||||||||||||||||||||||||||||
|
Year of Construction |
Year- 2010 |
|||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||
|
Number of floors |
Basement + Stilt+ Podium + 25 Upper floors —
proposed |
|||||||||||||||||||||||||||||||||||||
|
Type of structure |
RCC framed structure |
|||||||||||||||||||||||||||||||||||||
|
Number of Dwelling Units in the Building. |
Under construction |
|||||||||||||||||||||||||||||||||||||
|
Quality of Construction |
Under construction |
|||||||||||||||||||||||||||||||||||||
|
Appearance of the Building |
Under construction |
|||||||||||||||||||||||||||||||||||||
|
Maintenance of the Building |
Under construction |
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|
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|
Facilities available |
|
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|
Lift |
2 lifts (Proposed) |
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Protected Water supply |
Yes (Proposed) |
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Underground Sewerage |
Yes (Proposed) |
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Car Parking – Open/ Covered |
Open and Covered |
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Is compound wall existing? |
Brick Wall |
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Is pavement laid around the building? |
RCC |
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FLAT |
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The floor in which the flat is situated |
23rd Floor |
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Door No. of the Flat |
Flat No. 2304 |
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Specifications of the Flat |
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Roof |
RCC slab |
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Flooring |
Vitrified Flooring - Proposed |
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Doors |
Teak wood flush - Proposed |
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Windows |
Aluminum sliding windows- proposed |
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Fittings |
Ordinary |
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Finishing |
Normal |
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Se Deed executed in the name of |
Purchasers: Mrs. Madhuri A. Rai and Mr. Anil Rai Seller: Mr. Ashvin Jagdishbhai Patel |
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What is the undivided area of land as per
Sale Deed? |
5006.40 sq. mtrs |
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What s the plinth area of the flat? |
S. Built up area - 920 sq. ft.- with 40%;
loading on agreement carpet area |
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What is the Carpet area of the Flat? |
Carpet area - 657 sq ft - agreement
Measurement not possible |
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Is it Posh/ Class/ Medium/ Ordinary? |
Medium |
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Is it being used for Residential or
Commercial purpose? |
Residential |
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Is it owner occupied or let out? |
Under construction |
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MARKETABILITY |
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How is the marketability? |
Good |
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What are the factors favouring for an extra
Potential Value? |
All civic amenities are nearby and within
easy reach |
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RATE |
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After Analyzing the comparable sale instances,
what is the composite rate for a similar flat with same specifications in the
adjoining locality? |
Rs.11000/-to 15000/-per sq. ft. |
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Assuming it is a new construction, what is the
adopted basic composite rate of the flat under valuation after comparing with
the specifications and other factors with the flat under comparison (given
details). |
Rs.11000/-to 13000/- per sq. ft. |
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Break-up for the Rate |
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Building + Services |
Rs.2000/- per sq. ft. |
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Land + Others |
Rs.10500/- per sq. ft. |
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COMPOSITE RATE ADOPTED AFTER DEPRECIATION |
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Depreciated Building Rate |
Under construction |
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Replacement Cost of flat with Services |
Under construction |
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Present Age of building |
Under construction — 67% work completed |
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Residual Life of Building |
60 years after completion (Subject to proper
and regular maintenance of the
building) |
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Total Composite Rate |
Rs.12500/- per sq. ft. |
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DETAILS OF
VALUATION Value of the property at which it can be
sold in the open market at a particular time free from forced value or sentimental
value. The market value need not be the same as the present value. Market
value may be less than the present value. Market value of the any property
gets affected at least by the ten factors: Economy, Physical, Legal, Social
Utility, Marketability, Transferability, Scarcity, Location and the most
important factor Demand.
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Distress Sale Value on Proportionate Value |
Rs.6.164 Millions |
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Value for Insurance purpose After Completion (Structure) |
Rs.1.840 Millions |
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ANNEXURE FOR UNDER
CONSTRUCTION PROPERTIES
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Name of the bank |
Central Bank of India |
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Branch |
Branch: Andheri (East) |
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Property Address |
Flat No 2304, 23rd Floor, B wing,
Evershine Cosmic Building, Off Link Road, Adarsh Nagar, Behind Marya Estate,
Andheri (West), Mumbai. |
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Name of the builder with Telephone Number |
Seller: Mr. Ashvin Jagdishbhai Patel |
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Name of the Borrower |
Purchasers: Mrs. Madhuri A. Rai and Mr. Anil Rai |
WORK COMPLETED - 67%
|
Nature of work completed |
% of work
completed |
Cumulative Total |
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Foundation and Plinth |
20% |
20% |
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Entire RCC |
24% |
44% |
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Brick Work (Internal and External) |
12% |
56% |
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Plaster (Internal and External) |
06% |
62% |
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Flooring and Tiling |
05% |
67% |
WORK NOT COMPLETED – 33%
|
Nature of work not completed |
% of work not
completed |
Cumulative Total |
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Entire RCC |
06% |
06% |
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Brick Work (Internal and External) |
03% |
09% |
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Plaster (Internal and External) |
04% |
13% |
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Flooring and Tiling |
05% |
18% |
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Wood Work (Door and Framed, Electrocution) +
Painting and Plumbing |
10% |
28% |
|
Finishing work |
05% |
33% |
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.44.72 |
|
|
1 |
Rs.73.47 |
|
Euro |
1 |
Rs.65.38 |
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.