MIRA
INFORM REPORT
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Report Date : |
27.02.2012 |
IDENTIFICATION DETAILS
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Name : |
SHIVAM DEVELOPERS PRIVATE LIMITED |
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Registered
Office : |
Sainath Compound, S. No.214/217, CTS 123/2, Bandongari, Malad (East),
Mumbai - 400097, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
22.12.2006 |
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Com. Reg. No.: |
01-166443 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U45201MH2006PTC166443 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS54470D |
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PAN No.: [Permanent Account No.] |
AAKCS4397P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is Primarily engaged in the business of promotion,
Construction, development of residential and commercial complexes. |
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No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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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Maximum Credit Limit : |
USD 270000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. There
appears some dip in the turnover of the company. However, Networth appears to
be satisfactory. Trade relations are reported as fair. Business is active.
Payments are reported to be usually correct and as per commitments The company can be considered normal for business dealings at usual
trade terms conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY (GENERAL DETAILS)
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Name : |
Mr. Sanjay Thite |
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Designation : |
Accounts Manager |
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Contact No.: |
91-9225562128 |
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Date : |
24.02.2012 |
LOCATIONS
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Registered Office : |
Sainath Compound, S. No.214/217, CTS 123/2, Bandongari, Malad (East),
Mumbai -400097, Maharashtra, |
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Tel. No.: |
91-22-28802259 |
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Mobile No.: |
91-9225562128 (Mr. Sanjay Thite) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branch Office 1 : |
15, |
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Tel. No.: |
91-2132-286145 |
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Fax No.: |
91-2132-286477 |
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Branch Office2 : |
14, |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Popat Maruti Ghanwat |
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Designation : |
Director |
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Address : |
A-1/608, Krishnadham Tapovan. Pathanwad, Malad (East), Mumabi-400097, |
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Date of Birth/Age : |
01.06.1951 |
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Date of Appointment : |
22.12.2006 |
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DIN No.: |
00049598 |
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Other
Directorship
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Name : |
Mr. Rajendra Popat Ghanwat |
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Designation : |
Director |
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Address : |
A-1/608, Krishnadham Tapovan. Pathanwad, Malad (East), Mumabi-400097, |
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Date of Birth/Age : |
26.08.1977 |
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Date of Appointment : |
22.12.2006 |
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DIN No.: |
00744020 |
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Other
Directorship
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Name : |
Mr. Neelkanth Popat Ghanwat |
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Designation : |
Whole-time Director |
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Address : |
A-1/608, Krishnadham Tapovan. Pathanwad, Malad (East), Mumabi-400097, |
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Date of Birth/Age : |
14.09.1972 |
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Date of Appointment : |
10.02.2009 |
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DIN No.: |
00800649 |
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Other
Directorship
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KEY EXECUTIVES
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Name : |
Mr. Sanjay Thite |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Popat Maruti Ghanwat |
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3200 |
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Rajendra Ghanwat |
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100 |
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Neelkanth Ghanwat |
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3100 |
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Changuna Ghanwat |
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3100 |
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Popat Ghanwat (HUF) |
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100 |
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Sandhya Neelkanth Ghanwat |
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100 |
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Neelkanth Ghanwat |
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100 |
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Manali Ghanwat |
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100 |
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Rajendra Ghanwat (HUF) |
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100 |
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Total |
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10000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is Primarily engaged in the business of promotion,
Construction, development of residential and commercial complexes. |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
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Customers : |
Retailers |
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No. of Employees : |
10 (Approximately) |
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Bankers : |
Kotak Mahindra Bank Limited, 36-38a, Nariman Bhavan, 227,D, Nariman Point, Mumbai - 400021, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
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Auditors : |
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Name : |
A V Kedia and Associates Chartered Accountants |
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Address : |
205, Monalisa, |
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Tel. No.: |
91-22-28829439 |
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PAN.: |
ALPPK7341E |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
67.788 |
64.351 |
19.222 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
67.888 |
64.451 |
19.322 |
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LOAN FUNDS |
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1] Secured Loans |
12.354 |
6.093 |
1.329 |
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2] Unsecured Loans |
6.212 |
0.000 |
0.000 |
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TOTAL BORROWING |
18.566 |
6.093 |
1.329 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
86.454 |
70.544 |
20.651 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.333 |
3.208 |
2.879 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
10.373 |
1.476 |
1.374 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
56.201
|
24.537 |
18.772 |
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Sundry Debtors |
1.801
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2.920 |
0.000 |
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Cash & Bank Balances |
0.572
|
11.559 |
9.176 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
45.374
|
39.986 |
15.287 |
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Total
Current Assets |
103.948
|
79.002 |
43.235 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Other Current Liabilities |
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Provisions |
1.302
|
10.204 |
0.880 |
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Total
Current Liabilities |
33.200
|
13.142 |
26.837 |
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Net Current Assets |
70.748
|
65.860 |
16.398 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
86.454 |
70.544 |
20.651 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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TURNOVER |
83.141 |
15.856 |
0.000 |
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PROFIT BEFORE
TAX |
5.002 |
46.120 |
19.451 |
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Less |
TAX |
1.565 |
0.991 |
0.902 |
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PROFIT AFTER TAX |
3.437 |
45.129 |
18.549 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
64.351 |
19.222 |
0.673 |
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BALANCE CARRIED
TO THE B/S |
67.788 |
64.351 |
19.222 |
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Earnings Per
Share (Rs.) |
500.20 |
-- |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.58
|
56.10 |
42.18 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.72 |
1.01 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.76
|
0.30 |
1.46 |
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Current Ratio (Current Asset/Current Liability) |
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3.13
|
6.01 |
1.61 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details are Not Available
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Check List by Info Agents |
Available in Report (Yes / No) |
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1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business• |
Yes |
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7) Promoter’s background |
-- |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last two years |
No |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
No |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
No |
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16) Details of sister concerns |
No |
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17) Major suppliers |
Yes |
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18) Major customers |
No |
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19) Payments terms |
No |
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20) Export / Import details (if applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
No |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
No |
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28) Incorporation details, if applicable |
-- |
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29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
-- |
BACKGROUND:
(The Company was in corporated on 22nd December, 2006 and is
primarily engaged in the business of promotion, Construction, development of
residential and commercial complexes.
FINANCIAL RESULTS:
During the year, the Company’s turnover has decreased form Rs.83.141millions to Rs.15.856 millions and therefore profit before tax has also came down from Rs.46.121 millions to Rs.5.002 millions
Company has launched two residential cum commercial project
one at Chakan,
Aundh,
FUTURE OUTLOOK:
GDP is expected to grow at more than 8 % during the current
fiscal. The Company is in a process of identified more properties in
NOTE:
The registered office of the company has been shifted
from A-1/ 608, Krishnadham Tapovan, Off Pathan Wadi, Malad (East),
Mumbai-400097, Maharashtra
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U45201MH2006PTC166443 |
|
Name of the
company |
SHIVAM DEVELOPERS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Sainath Compound, S. No.214/217, Cts123a/2, Bandongari, Malad East Mumbai-400097 , |
|
This form is for |
Modification of charge |
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Charge
identification (ID) number of the charge to be modified |
10263691 |
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Type of charge |
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Particular of
charge holder |
Kotak Mahindra Bank Limited, 36-38 A, Nariman Bhavan, 227.D, Nariman Point, Mumbai-400021, |
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Nature of
instrument creating charge |
Record of Mortgage by Deposit of Title Deeds. |
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Date of
instrument Creating the charge |
28.09.2011 |
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Amount secured by
the charge |
Rs.31.500 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Commercial OD -12.00 % Floating. ATL - Fixed over the tenure of the facility. KCC OD - Floating over the tenure of the facility. Terms of repayment Commercial OD - Tenure of 12 months. ATL - Maximum 60 months. KCC OD -12 Months (Renewable) Margin ATL - 26.93% Extent and
operation of the charge 1.1st and exclusive charge byway of Hypo, on Current
assets of SHIVAM DEVELOPERS PRIVATE LIMITED in favour of KMBL as security for
repayment of financial facilities granted to SHIVAM DEVELOPERS PRIVATE
LIMITED of Rs.6.000 millions 2.1st and exclusive charge by way of Mortgage on
Immovable property of SHIVAM DEVELOPERS PRIVATE LIMITED in favour of KMBL as security for repayment
of financial facilities granted by the Bank to SHIVAM DEVELOPERS PRIVATE
LIMITED of Rs.6.000 millions to RAJENDRA GHANWAT of Rs.21.500 millions and to
POPAT GHANWAT of Rs.4.000 millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First and exclusive charge created on Current assets of the Borrower, more particularly described in Schedule II to the principal Deed of Hypothecation dated 28.12.2010. All that piece & parcel of land being Plot No.92, adms. 20 R., Gate No.357, at Waghjai Nagar at Kharabwadi, Khed, Pune, as described in SCH-E (Item No. 1) to the ROM, owned by SHIVAM DEVELOPERS PRIVATE LIMITED. |
|
Particulars of
the present modification |
Bank had granted facilities of Rs.6.000 millions which was secured by way of Hypothecation on Current assets of SHIVAM DEVELOPERS PRIVATE LIMITED on 28.12.2010. Now by this modification, the Company has created additional security by way of mortgage of Immovable property of SHIVAM DEVELOPERS PEIVATE LIMITED to secure the total facilities granted to the Company, Rajendra Ghanwat and Popat Ghanwat amounting to Rs.31.500 millions and said charge is modified accordingly. |
FIXED ASSETS:
- Furniture & Fixture
- Office Equipment
- Plant & Machinery
- Air Conditioners
- Car
- Computers & Printers
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.49.07 |
|
|
1 |
Rs.77.18 |
|
Euro |
1 |
Rs.65.57 |
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 |
6 |
|
--MARGINS |
-5~5 |
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.