MIRA
INFORM REPORT
|
Report Date : |
09.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered
Office : |
184 – A, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
21.05.1997 |
|
|
|
|
IEC No.: |
0497024136 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABFA1708N |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Exporter of Home Textile Products. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership concern having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. However 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 |
INFORMATION PARTED BY
|
Name : |
Mr. S. Ramesh Khanna |
|
Designation : |
Partner |
|
Contact No.: |
91-9894570007 |
|
Date : |
11.01.2011 |
LOCATIONS
|
Registered Office : |
184 – A, |
|
Tel. No.: |
91-4324-234418/ 235518 |
|
Mobile No.: |
91-9894570007(Mr. S. Ramesh Khanna) |
|
Fax No.: |
91-4324-239898 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Elango S. |
|
Designation : |
Partner |
|
Address : |
No.49, VKA Complex, Ramanyam Nagar, Karur, |
|
Date of Birth/Age : |
03.06.1972 |
|
Qualification : |
HSLC |
|
Experience : |
15 years |
|
PAN No.: |
AAEPE6673P |
|
|
|
|
Name : |
Mr. S. Ramesh Khanna |
|
Designation : |
Partner |
|
Address : |
Door No.2/249, K. Paramathi, Aravakurichi (T. K.), Karur – 639111, |
|
Date of Birth/Age : |
02.05.1972 |
|
Qualification : |
B.A. |
|
Experience : |
16 years |
|
PAN No.: |
AFBPR1160D |
BUSINESS DETAILS
|
Line of Business : |
Exporter of Home Textile Products. |
|
|
|
|
Exports : |
|
|
Products : |
Home Textile Goods |
|
Countries : |
·
·
·
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (30-60-90 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30-60-90 days) |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s |
|
|
|
|
No. of Employees : |
20 (Approximately) |
|
|
|
|
Bankers : |
· Corporation Bank Karur Branch, |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mohanraj and Associates Chartered Accountant |
|
Address : |
No.18-A/43, Valyapuri Nagar, 4th Cross, Sengunthapuram –
Post, Karur – 639002, |
|
|
|
|
Associates/Subsidiaries : |
· Genny Impex |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.1.233 Millions |
|
Borrowed : |
Rs.7.264 Millions |
|
Total : |
Rs.8.497
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] Partners Capital Account |
1.233 |
0.818 |
0.659 |
|
|
2] Partner’s Current Account |
0.000 |
(0.361) |
(0.661) |
|
|
3] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
4] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.233 |
0.457 |
(0.002) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7.264 |
7.099 |
19.132 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
7.264 |
7.099 |
19.132 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8.497 |
7.556 |
19.130 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.946 |
2.368 |
2.371 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.616
|
2.585 |
13.703 |
|
|
Sundry Debtors |
6.766
|
2.871 |
1.304 |
|
|
Cash & Bank Balances |
0.447
|
0.481 |
2.986 |
|
|
Other Current Assets |
0.176
|
4.370 |
3.174 |
|
|
Loans & Advances |
0.631
|
0.538 |
0.412 |
|
Total
Current Assets |
12.636
|
10.845 |
21.579 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
6.085
|
5.657 |
4.820 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
6.085
|
5.657 |
4.820 |
|
|
Net Current Assets |
6.551
|
5.188 |
16.759 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8.497 |
7.556 |
19.130 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
49.166 |
53.603 |
40.382 |
|
|
|
Other Income |
1.879 |
0.000 |
3.093 |
|
|
|
TOTAL |
51.045 |
53.603 |
43.475 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
36.970 |
28.263 |
26.854 |
|
|
|
Dyeing Charges |
2.373 |
3.369 |
1.881 |
|
|
|
Weaving Charges |
3.914 |
2.119 |
1.004 |
|
|
|
Sample Expenses |
0.489 |
0.555 |
0.830 |
|
|
|
Manufacturing Expenses |
0.986 |
0.127 |
1.550 |
|
|
|
Freight |
0.216 |
0.351 |
0.784 |
|
|
|
Salary and Bonus |
1.546 |
1.873 |
1.655 |
|
|
|
Postage and Courier |
0.385 |
0.791 |
0.310 |
|
|
|
Petrol Expenses |
0.156 |
0.067 |
0.077 |
|
|
|
Shipping Charges |
0.504 |
1.546 |
0.767 |
|
|
|
Telephone Charges |
0.200 |
0.297 |
0.240 |
|
|
|
Travelling Expenses |
0.248 |
0.167 |
0.269 |
|
|
|
Office Expenses |
0.178 |
0.234 |
0.029 |
|
|
|
Other Expenses |
2.485 |
13.410 |
6.755 |
|
|
|
TOTAL |
50.650 |
53.169 |
43.005 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.395 |
0.434 |
0.470 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.280 |
0.336 |
0.397 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
0.115 |
0.098 |
0.073 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.23
|
0.18 |
0.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.23
|
0.18 |
0.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.79
|
0.74 |
0.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.21 |
(36.50) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
10.83
|
27.91 |
(11976.00) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.08
|
1.92 |
4.48 |
LOCAL AGENCY FURTHER INFORMATION
PROJECTED
BALANCE SHEET
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2012 |
|
|
|
|
(Projected) |
||
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital Account |
|
2.510 |
4.188 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
2.510 |
4.188 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
15.000 |
15.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
15.000 |
15.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
17.510 |
19.188 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
2.144 |
2.145 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
5.239 |
5.869 |
|
|
Sundry Debtors |
|
13.286 |
15.389 |
|
|
Cash & Bank Balances |
|
0.272 |
0.372 |
|
|
Other Current Assets |
|
0.007 |
0.007 |
|
|
Loans & Advances |
|
0.928 |
1.172 |
|
Total
Current Assets |
|
19.732 |
22.809 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
4.366 |
5.766 |
|
|
Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
4.366 |
5.766 |
|
|
Net Current Assets |
|
15.366 |
17.043 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
17.510 |
19.188 |
|
PROJECTED
PROFIT & LOSS ACCOUNT
(RS. IN MILLIONS)
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2012 |
|
|
|
|
|
(Projected) |
||
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
75.400 |
90.136 |
|
|
|
Other Income |
|
3.265 |
4.325 |
|
|
|
TOTAL |
|
78.665 |
94.461 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
55.640 |
63.446 |
|
|
|
Dyeing Charges |
|
4.768 |
5.988 |
|
|
|
Weaving Charges |
|
5.366 |
4.888 |
|
|
|
Sample Expenses |
|
0.998 |
0.969 |
|
|
|
Manufacturing Expenses |
|
2.180 |
1.836 |
|
|
|
Freight |
|
0.348 |
6.488 |
|
|
|
Salary and Bonus |
|
2.015 |
2.635 |
|
|
|
Postage and Courier |
|
0.469 |
0.569 |
|
|
|
Petrol Expenses |
|
0.219 |
0.299 |
|
|
|
Shipping Charges |
|
0.868 |
0.898 |
|
|
|
Telephone Charges |
|
0.298 |
0.318 |
|
|
|
Travelling Expenses |
|
0.346 |
0.528 |
|
|
|
Office Expenses |
|
0.265 |
0.319 |
|
|
|
Other Expenses |
|
3.607 |
3.602 |
|
|
|
TOTAL |
|
77.387 |
92.783 |
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
1.278 |
1.678 |
|
------------------------------------------------------------------------------------------------------------------------------
STATEMENT
OF TOTAL INCOME
MR. S. RAMESH
KANNA
(RS. IN MILLIONS)
|
BUSINESS: Interests, Salary and Bonus
from Firm: |
|
|
1. M/s |
0.012 |
|
|
|
|
2. M/s Jai Annai
finance (Pan: AASSJ7639D) |
0.010 |
|
|
|
|
3. Income from Trading
business of Fabrics |
0.210 |
|
|
|
|
OTHER SOURCES: |
0.000 |
|
|
|
|
Less: Deduction
U/s 80 C – LIP as per receipts (Rs.122977) – Limited to |
0.100 |
|
|
|
|
Total Income |
0.132 |
|
|
|
|
Tax Calculation: |
|
|
|
|
|
Tax on Income |
Nil |
|
|
|
|
Balance Due |
Nil |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT
OF TOTAL INCOME
MR. S. ELANGO
(RS. IN MILLIONS)
|
INCOME FROM BUSINESS
|
|
|||
|
|
|
|||
|
Income from
Cloth Business |
0.091 |
|||
|
|
|
|||
|
Income From Firm |
Interests on
Capital |
Salary |
Share of Profit |
|
|
|
|
|
|
|
|
M/s. |
-- |
0.012 |
0.037 |
|
|
M/s. Jai Annai Finance |
0.008 |
-- |
0.002 |
|
|
Total |
0.008 |
0.012 |
0.039 |
0.059 |
|
|
0.150 |
|||
|
|
|
|||
|
Share of Profit
Exempted U/s 10 (2A) |
0.038 |
|||
|
|
0.112 |
|||
|
|
|
|||
|
Income From
Other Sources |
|
|||
|
Income on |
0.080 |
|||
|
Dividend received |
0.008 |
|||
|
Miscellaneous
Income |
0.010 |
|||
|
|
0.098 |
|||
|
Gross: Total
Income |
0.210 |
|||
|
|
|
|||
|
Less:
Deduction Under Chapter VI –A |
|
|||
|
u/s 80C – LIC
premium Paid |
0.084 |
|||
|
|
|
|||
|
Total Tax Income
|
0.126 |
|||
|
|
|
|||
|
Taxable Income
(Rounded Off) |
0.126 |
|||
|
|
|
|||
|
Tax on the above
Income |
0.001 |
|||
|
Add: EC and SHEC
@ 3% |
0.000 |
|||
|
|
0.001 |
|||
|
|
|
|||
|
Add: Interests
U/s 234 A |
0.000 |
|||
|
|
|
|||
|
Self Asst. Tax
and Interests Paid |
0.001 |
|||
------------------------------------------------------------------------------------------------------------------------------
STATEMENT
OF ASSETS AND LIABILITIES
MR. S. RAMESH
KANNA
(RS. IN MILLIONS)
ASSETS
INVESTMENT IN
BUSINESS CAPITAL
|
Name of the Company/ Firm/ Concern in which
investment is made |
Genny Inpex |
|
|
|
|
Date of Investment |
15.07.1997 04.06.2009 |
|
|
|
|
Present Value of investments |
0.657 |
LIFE INSURANCE
POLICIES
|
Policy Numbers |
764387568 764487809 753773824 |
|
|
|
|
Date of Policy |
28.03.2006 |
|
|
|
|
Endowment / Whole Life etc. |
Whole Life |
|
|
|
|
Annual Premium |
0.078 |
|
|
|
|
Sum Assured |
1.600 |
|
|
|
|
Surrender Value |
0.600 |
VEHICLES OWNED
|
Model/ Make |
Maruti Swift |
|
|
|
|
Date of Purchases |
April 2008 |
|
|
|
|
Present Market Value |
0.400 |
|
TOTAL ASSETS |
RS.1.657
MILLIONS |
|
NET WORTH |
RS.1.657
MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT
OF ASSETS AND LIABILITIES
MR. S. ELANGO
(RS. IN MILLIONS)
ASSETS
IMMOVABLE PROPERTY
|
Address of the Property
with Survey No./ Door No. etc. |
S. F. No.254/22, |
|
|
|
|
Description:
Land/ Site/ Building |
Land |
|
|
|
|
Whether Freehold
/ Leasehold |
Freehold |
|
|
|
|
Type of Property:
Commercial/ Residential/ Agricultural |
Residential |
|
|
|
|
Mortgaged for
Availing loan if any, details thereof |
56 Cents. |
|
|
|
|
Present Market/
Assessed Value |
4.480 |
INVESTMENT IN
BUSINESS CAPITAL
|
Name of the Company/ Firm/ Concern in which
investment is made |
Genny Inpex |
|
|
|
|
Date of Investment |
15.07.1997 04.06.2009 |
|
|
|
|
Present Value of investments |
0.657 |
LIFE INSURANCE
POLICIES
|
Policy Numbers |
754091674 764487236 754266191 764487 |
|
|
|
|
Date of Policy |
March 2004 |
|
|
|
|
Endowment / Whole Life etc. |
Whole Life |
|
|
|
|
Annual Premium |
0.051 |
|
|
|
|
Sum Assured |
1.200 |
VEHICLES OWNED
|
Model/ Make |
Maruti Swift |
|
|
|
|
Date of Purchases |
July 2009 |
|
|
|
|
Whether Hypothecated for Loan |
SBI (Shirutholil – Karur) |
|
|
|
|
Details of Loan against Vehicles |
0.387 |
|
|
|
|
Present Market Value |
0.413 |
OTHER ASSETS
|
Cash in Hand |
0.140 |
|
|
|
|
Total Value of Other Assets |
0.140 |
|
TOTAL ASSETS |
RS.6.890
MILLIONS |
LIABILITIES
|
Name of the Bank/ Institute |
State Bank of |
|
|
|
|
Nature/ Type of Loan |
Vehicles Loan |
|
|
|
|
Amount Outstanding |
0.387 |
|
NET WORTH |
RS.6.503
MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT
GENERAL
INFORMATION
|
This valuation is
undertaken based upon the request from
|
The Branch
Manager Corporation Bank
Limited, Karur Branch, Karur TK and Dt.
|
||
|
|
|
||
|
Name of the
Reported owner and address |
Mrs. S.
Sivashanmugam S/o. Mr.
Samiappa Gounder No.5, Vivekananthan
Nagar. Sengunthapuram
10th Cross. Karur-639002. |
||
|
|
|
||
|
Purpose of
Valuation |
For Loan Purpose
|
||
|
|
|
||
|
Date of
Valuation |
16.09.2010 |
||
|
|
|
||
|
Document
produced for perusal |
Dct.No:1
64/2008, dt. 18.01.2008. |
||
|
|
|
||
|
APARTMENT
BUILDING |
|||
|
Nature of the
apartment |
Residential
(M/s. True Value Homes ( |
||
|
|
|
||
|
Location |
|
||
|
S.F. No./ Ward
No. |
S. F.No.3059,
3060, 3061/1,2,3,4,5,6,7, 3069, 3070, 3071, 3072, 3073,3074,3075/1, 2, 3076
and 3091/1, 2, |
||
|
Village
/Municipality/ Corporation |
Block No.49,
Purasawakkam village, |
||
|
Door No. Street
of road (Pin code) |
Chennai City
Corporation, |
||
|
|
|
||
|
Description of
the Locality |
Division — 61 |
||
|
|
|
||
|
Year of
construction |
Chennai. |
||
|
|
|
||
|
Number of floors |
Eighteen floor. |
||
|
|
|
||
|
Type of
structure |
R.C.C framed. |
||
|
|
|
||
|
Number of
dwelling units in the building |
Seven Hundred
Ninety Five |
||
|
|
|
||
|
Quality of
construction |
Good. |
||
|
|
|
||
|
Appearance of
the building |
Good. |
||
|
|
|
||
|
Maintenance of
the building |
Good. |
||
|
|
|
||
|
Facilities
available |
|
||
|
Lift |
6 Nos capacity passengers
lilt — 1 Nos, 15 Nos capacity
passengers lift — 2 Nos |
||
|
|
|
||
|
Protected Water
Supply |
Yes |
||
|
|
|
||
|
Car parking
—Open /Covered |
Basement Floor
Parking (Covered) |
||
|
|
|
||
|
Around compound
wall existing? |
Yes |
||
|
|
|
||
|
Pavement is laid
around the building? |
Yes |
||
|
|
|
||
|
FLAT |
|||
|
The floor in
which the flat is situated |
Tenth Floor |
||
|
|
|
||
|
Flat No. /Block
No. |
1103 /1. |
||
|
|
|
||
|
Specification of
the flat |
|
||
|
Roof Flooring Doors Windows Fittings |
R.C.C Framed. Granite slab. Teakwood UPVC. Aluminium. |
||
|
|
|
||
|
Housing Tax |
Not yet
assessed. |
||
|
|
|
||
|
Electricity
service connection number Meter card is in the name of |
737, Mr. S.
Shivashanmugam. |
||
|
|
|
||
|
How is the maintenance
of the flat? |
Good. |
||
|
|
|
||
|
|
Mr. S.
Shivashanmugam. 484 Sq. ft. (out
of total area 3, 84,281) |
||
|
|
|
||
|
What is the
plinth area of the fiat? |
1488 sq. ft. |
||
|
|
|
||
|
What is the
floor space index (Approx.)? |
2.461 |
||
|
|
|
||
|
What is the
carpet area of the flat? |
969 sq. ft. |
||
|
|
|
||
|
Is it Posh)!
Class! Medium! Ordinary? |
1st
Class |
||
|
|
|
||
|
Is it being used
for residential or commercial |
Residential |
||
|
|
|
||
|
Is it owner
occupied or tenanted? |
Owner Occupied |
||
|
|
|
||
|
If tenanted,
what is the monthly rent? |
Nil |
||
|
|
|
||
|
GENERAL |
|||
|
How is the
marketability |
Good |
||
|
|
|
||
|
What are the
factors favoring for an extra Potential value |
It is located in
busy area and with in Chennai City Corporation. |
||
|
|
|
||
|
RATE |
|||
|
After analyzing the comparable sale instances,
what is the composite rate for a similar flat with same specifications in the
adjoining locality? |
Rs.9000/-Sq.ft. |
||
|
|
|
||
|
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 (Give details) |
Rs.9500/-Sq.ft. |
||
|
|
|
||
|
BREAK UP FOR THE
RATE |
|
||
|
|
|
||
|
i) Building +
Services ii) Land + Others
and amenities and including Car parking area |
Rs.2750/- Sq.
ft. Rs.6250/- Sq.
ft. |
||
|
|
|
||
|
COMPOSITE RATE
ADOPTED AFTER DEPRECIATION |
|||
|
A) Depreciated
Building Rate |
|||
|
|
|
||
|
Replacement cost
of flat with service |
Rs.2750/- Sq.
ft. |
||
|
|
|
||
|
Age of the
building |
2008 |
||
|
|
|
||
|
Life of the
building estimated |
80 years |
||
|
|
|
||
|
B) Total Composite
Rate Arrived For Valuation |
|||
|
Depreciated
building rate Vl (A) |
Rs.2688/- Sq ft. |
||
|
|
|
||
|
Rate for land and
others V (3) ii |
Rs.6250/- Sq.
ft. |
||
|
|
|
||
|
Total Composite
rate |
Rs.8938/- Sq.
ft. |
||
|
|
|
||
|
VALUATION
DETAILS |
|||
|
Description |
Qty |
Rate Per sq. ft. |
Estimate Value (Rs. In
Millions) |
|
|
|
|
|
|
Present value of the fiat |
1488 Sq. ft. |
8938/- |
13.300 |
|
|
|
Sundries |
0.000 |
|
|
|
|
|
|
|
|
Total |
13.300 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT
GENERAL
INFORMATION
|
This valuation is
undertaken based upon the request from
|
The Branch
Manager Corporation Bank
Limited, Karur TK and Dt.
|
||
|
|
|
||
|
Name of the
Reported owner and address |
Mrs. S.
Sornam W/o. Mr. S.
Senthil, Door No.254, Vaiyapuri Nagar. Karur Tk. and
DL. |
||
|
|
|
||
|
Purpose of
Valuation |
To estimate the
present market value |
||
|
|
|
||
|
Date of
Valuation |
16.10.2010 |
||
|
|
|
||
|
Brief
description of the property |
It is a vacant
Plot |
||
|
|
|
||
|
Document
produced for perusal |
Dct.No:10027/2009,
dt. 18.12.2009. |
||
|
|
|
||
|
DESCRIPTION OF
PROPERTY |
|||
|
Location of the
Property |
|
||
|
Plot No./ Colony
Name S.F No./ T.S
No./ R.S No. Village/ Block/
Panchayat Taluk/ Ward District/ Municipality |
Plot No.2, L.G.B
Nagar S.F.No.668, 651/
C Karur Tk., Karur Dt., |
||
|
|
|
||
|
Postal Address
of the property |
Plot No.2, S.F.
No.668, 651/C, Karur Tk., and
Dt., |
||
|
|
|
||
|
Boundaries of
the property North South East West |
Plot No.1 Plot No.3 Plot No.4 |
||
|
|
|
||
|
Property
occupied by |
Owner |
||
|
|
|
||
|
PART A – LAND |
|||
|
Extent of the
Land |
As per sale deed
(a) |
As actual (b) |
|
|
|
|
|
|
|
North |
69’6” |
69’6” |
|
|
South |
70’3” |
70’3” |
|
|
East |
32’0” |
32’0” |
|
|
West |
30’0” |
30’0” |
|
|
|
|||
|
Total Extent of
the Plot considered for valuation |
2166 Sq. ft |
||
|
|
|
||
|
Characteristics of the Site: |
|
||
|
Character of locality |
Residential
area. |
||
|
|
|
||
|
Classification |
Middle Class |
||
|
|
|
||
|
Development of
the surrounding areas |
Developed Area |
||
|
|
|
||
|
Is the locality
subjected to frequent flooding |
No. |
||
|
|
|
||
|
Feasibility to the
civic amenities like Schools, Hospitals, Offices, Markets, etc., |
Moderate
Distance |
||
|
|
|
||
|
Level of land
with topographical conditions |
Level |
||
|
|
|
||
|
Shape of land |
Irregular |
||
|
|
|
||
|
Type of use to
which it can be put |
Vacant Plot |
||
|
|
|
||
|
Any restriction
of usage |
No. |
||
|
|
|
||
|
Weather lease
hold / Free hold |
Freehold |
||
|
|
|
||
|
Is it a corner plot? |
No. |
||
|
|
|
||
|
Road facilities |
Available |
||
|
|
|
||
|
Water
Potentialities |
Available |
||
|
|
|
||
|
Under Ground
Sewerage system |
Not Available |
||
|
|
|
||
|
Commercial
potentiality of the property |
Bright |
||
|
|
|
||
|
Any other
sentimental/ Social issue which may affect the value |
No. |
||
|
|
|
||
|
Guide line rate |
Rs.300/- |
||
|
|
|
||
|
Guide line value
of the land: 2166 sq. ft. x Rs.300/- |
Rs.0.650
Millions |
||
|
|
|
||
|
Prevailing
market rate |
Rs.1900/- |
||
|
|
|
||
|
Adopted rate of
valuation |
Rs.1800/- |
||
|
|
|
||
|
Estimated value
of the land: |
2166 Sq. ft x
Rs.1800/- = Rs.3.899
Millions |
||
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.45.03 |
|
|
1 |
Rs.72.98 |
|
Euro |
1 |
Rs.62.94 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.