|
Report Date : |
05.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
PURVANCHAL PROJECTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
LSC A-7, 2nd Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
25.03.2010 |
|
|
|
|
Com. Reg. No.: |
200716 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 47.521 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70102DL2010PTC200716 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP16426E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCP4046B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Civil Construction |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 290356 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
company has been successful in wipping-off the accumulated losses of the previous
year. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
LSC A-7, 2nd Floor, Purvanchal Plaza, Mayur Vihar,
Phase-II, New Delhi – 110091, India |
|
Tel. No.: |
91-11-22774510 / 22774518 |
|
E-Mail : |
anilsagarandco@sify.com |
|
Website : |
|
|
|
|
|
Corporate Office : |
Purvanchal House, N-4, Sector 18, Noida – 201301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4637700/09 |
|
Fax No.: |
91-120-4637799 |
|
E-Mail : |
contact@purvanchalconstruction.com |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Shah Alam |
|
Designation : |
Managing Director |
|
Address : |
51A Niyaz & Raza Appartment, nor Nagar, Johri Farm, Jamia Nagar,
New Delhi – 110025, India |
|
Date of Birth/Age : |
01.06.1973 |
|
Date of Appointment : |
25.03.2010 |
Other Directorship:
|
|
Name : |
Mr. Aftab Alam |
|
Designation : |
Director |
|
Address : |
51A Niyaz & Raza Appartment, nor Nagar, Johri Farm, Jamia Nagar, New
Delhi – 110025, India |
|
Date of Birth/Age : |
01.06.1969 |
|
Date of Appointment : |
25.03.2010 |
Other Directorship:
|
|
Name : |
Mr. Shahin Shah Alam |
|
Designation : |
Director |
|
Address : |
51A Niyaz & Raza Appartment, nor Nagar, Johri Farm, Jamia Nagar,
New Delhi – 110025, India |
|
Date of Birth/Age : |
08.10.1972 |
|
Date of Appointment : |
27.12.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Purvanchal Construction Works Private Limited, New Delhi |
|
3961010 |
|
Samiah International Building Private Limited, New Delhi |
|
110 |
|
Mr. Shah Alam |
|
790550 |
|
Mr. Aftab Alam |
|
440 |
|
Total |
|
4752110 |
AS ON 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
83.35 |
|
Directors or relatives of Directors |
16.65 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Civil Construction |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
ICICI Bank, Landmarkrace Cource Circle, Alkapuri,
Baroda – 390015, Gujarat, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Anil Sagar And Co Chartered Accountant |
|
Address : |
PKT. A-8/103, Swapan Kunj, Kalkaji Extension, New Delhi – 110019,
India |
|
Tel. No.: |
91-11-40508370/29982300/65427412 |
|
|
|
|
Holding Company : |
Purvanchal Construction Works Private Limited |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4752110 |
Equity Shares |
Rs.10/- each |
Rs. 47.521
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
47.521 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
25.068 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
(1.422) |
|
|
NETWORTH |
|
72.589 |
(1.322) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
951.218 |
0.000 |
|
|
2] Unsecured Loans |
|
128.128 |
99.448 |
|
|
TOTAL BORROWING |
|
1079.346 |
99.448 |
|
|
DEFERRED TAX LIABILITIES |
|
0.344 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1152.279 |
98.126 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
21.105 |
0.000 |
|
|
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 |
|
8.953 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
65.459 |
0.004 |
|
|
Other Current Assets |
|
1440.777 |
0.000 |
|
|
Loans & Advances |
|
66.951 |
100.500 |
|
Total
Current Assets |
|
1582.140 |
100.504 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
29.810 |
0.000 |
|
|
Other Current Liabilities |
|
408.045 |
2.420 |
|
|
Provisions |
|
13.144 |
0.000 |
|
Total
Current Liabilities |
|
450.999 |
2.420 |
|
|
Net Current Assets |
|
1131.141 |
98.084 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.033 |
0.042 |
|
|
|
|
|
|
|
|
TOTAL |
|
1152.279 |
98.126 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
|
426.884 |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
386.906 |
1.423 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
39.979 |
(1.423) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
13.489 |
-- |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
26.490 |
(1.423) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
|
9.36 |
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
2.49 |
(1.41) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.55 |
1.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
21.08 |
(77.05) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
3.50 |
41.53 |
LOCAL AGENCY FURTHER INFORMATION
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1)
Year of Establishment |
Yes |
|
2)
Locality of the firm |
Yes |
|
3)
Constitutions of the firm |
Yes |
|
4)
Premises details |
No |
|
5)
Type of Business |
Yes |
|
6)
Line of Business |
Yes |
|
7)
Promoter's background |
Yes |
|
8)
No. of employees |
No |
|
9)
Name of person contacted |
No |
|
10)
Designation of contact person |
No |
|
11)
Turnover of firm for last Two years |
Yes |
|
12)
Profitability for last two years |
Yes |
|
13)
Reasons for variation <> 20% |
-- |
|
14)
Estimation for coming financial year |
No |
|
15)
Capital in the business |
Yes |
|
16)
Details of sister concerns |
Yes |
|
17)
Major suppliers |
No |
|
18)
Major customers |
No |
|
19)
Payments terms |
No |
|
20)
Export / Import details (if applicable) |
-- |
|
21)
Market information |
-- |
|
22)
Litigations that the firm / promoter involved in |
-- |
|
23)
Banking Details |
Yes |
|
24)
Banking facility details |
Yes |
|
25)
Conduct of the banking account |
-- |
|
26)
Buyer visit details |
-- |
|
27)
Financials, if provided |
Yes |
|
28)
Incorporation details, if applicable |
Yes |
|
29)
Last accounts filed at ROC |
Yes |
|
30)
Major Shareholders, if available |
Yes
|
|
Corporate identity number of the company |
U70102DL2010PTC200716 |
|
Name of the company |
PURVANCHAL
PROJECTS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
LSC A-7, 2nd
Floor, Purvanchal Plaza, Mayur Vihar, Phase-II, New Delhi – 110091 |
|
This form is for |
Creation of charge |
|
Type of charge |
Others (Construction Equipment) |
|
Particular of charge holder |
ICICI Bank, Landmarkrace Cource
Circle, Alkapuri, Baroda – 390015, Gujarat, India |
|
Nature of instrument creating charge |
Loan agreement No-LQDEL00024305389,
LQDEL00024305389, LQDEL00024305402 Against two unit of ace tower crane and
loan amt Rs. 9.690 millions & EMI Amt Rs. 0.328 Millions |
|
Date of instrument Creating the charge |
29.09.2011 |
|
Amount secured by the charge |
Rs. 9.690 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest 11.74% Per Annum Terms of Repayment Amount repayable in 35 equated
installments Margin Rs. 1.710 Millions Extent and Operation of the charge To the extent of principle plus interest Others Nil |
|
Short particulars of the property charged |
First and exclusive charge on 02 units of
ace tower crane |
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 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.55.51 |
|
|
1 |
Rs.85.29 |
|
Euro |
1 |
Rs.68.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
-- |
|
|
|
|
Report Prepared
by : |
NLM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.