|
Report Date : |
19.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
VRAJ ESTATE |
|
|
|
|
Registered
Office : |
Office No. 203/204/205, Madhav Palace, Plot No. 55, Sector 8, Opposite
Gandhidham Chamber of Commerce, Gandhidham, Kutch-370201, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Year of
Establishment : |
2005 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 8.374
Millions |
|
|
|
|
PAN No.: [Permanent Account No.] |
AFNPT5613G |
|
|
|
|
TAN No.: |
RKTB01500C |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of Civil Construction of Residential
House and Commercial Complex. |
|
|
|
|
No. of Employees
: |
43 [In Office 13 and In Factory/In Field 30] Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established proprietary concern having a satisfactory
track record. It is engaged in the business of Civil Construction of
Residential House and Commercial Complex. It has recorded some growth in its
turnover during 2013. Trade relations are reported as decent. Business is active. Payment
terms are slow but correct. The concern can be considered for 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Iswarbhai |
|
Designation : |
Manager |
|
Contact No.: |
91-9825591028 |
|
Date : |
18.04.2013 |
LOCATIONS
|
Registered Office : |
Office No. 203/204/205, Madhav Palace, Plot No. 55, Sector 8, Opposite
Gandhidham Chamber of Commerce, Gandhidham, Kutch-370201, Gujarat, India |
|
Tel. No.: |
91-2836-221814 |
|
Mobile No.: |
91-9825591028 [Mr. Iswarbhai] |
|
Fax No.: |
91-2836-221814 |
|
E-Mail : |
|
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Balwant Chhganlal Thacker |
|
Designation : |
Proprietor |
|
Address : |
Plot No. 310, Ward – 3 A, Adipur-Kutch-370205, Gujarat, India |
|
Date of Birth/Age : |
01.04.1969 |
|
Qualification : |
HSC |
|
Experience : |
11 Years |
KEY EXECUTIVES
|
Name : |
Mr. Iswarbhai |
|
Designation : |
Manager |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Civil Construction of Residential
House and Commercial Complex. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Others |
|
|
|
|
Purchasing : |
Cash and Others [7 Days] |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
No. of Employees : |
43 [In Office 13 and In Factory/In Field 30] Approximately |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Bankers : |
The Gandhidham Mercantile Co-operative Bank Limited, Gandhidham
Branch, Gujarat, India |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rohit Thakkar and Associates Chartered Accountants |
|
Address : |
111, Rishabh Corner, Plot No. 93, Sector 8, Tagore Road, Gandhidham,
Kutch-370201, Gujarat, India |
|
Tel. No.: |
91-2836-228738 |
|
E-Mail : |
|
|
|
|
|
Associates/Subsidiaries : |
Address: Sikarpur,
Samkhiyali Line
of Business: Trading of Salt.
Address: Office No. 5, Plot
No. 326, Ward 12/B, Gandhidham, Kutch-370201, Gujarat, India Line
of Business: Importer and Exporter of Various Items. |
CAPITAL STRUCTURE
CAPITAL ACCOUNT
FOR THE YEAR ENDED 31.03.2012
|
Dr. Particular |
Rs. in Millions |
Cr. Particulars |
Rs. in Millions |
|
To Household Withdrawal |
0.054 |
By Opening Balance |
7.469 |
|
To Personal Expenses |
0.135 |
By Net Profit From P and L A/C |
0.841 |
|
To TDS Receivable |
0.006 |
By Claims Recd. On Settlement |
0.150 |
|
To Self A. Tax 10-11 |
0.242 |
By Capital Gain on Office Sale |
0.241 |
|
To Income Tax Srutiny-08-09 |
0.055 |
By SB Interest |
0.000 |
|
To Life Insurance Premiums Paid |
0.088 |
By Dividend Received |
0.037 |
|
To Mediclaim Paid |
0.007 |
By Rent Income |
0.146 |
|
To Donation to Bengali Association |
0.003 |
By Profit From Darshan Salt |
0.114 |
|
To Donation to BJP |
0.100 |
By Agr. Income |
0.066 |
|
|
|
|
|
|
To Closing Balance |
8.374 |
|
|
|
|
|
|
|
|
TOTAL |
9.064 |
TOTAL |
9.064 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor Capital |
|
|
8.374 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
8.374 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
34.427 |
|
|
2] Unsecured Loans |
|
|
10.645 |
|
|
TOTAL BORROWING |
|
|
45.072 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
53.446 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
51.896 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.272 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1.350 |
|
|
Sundry Debtors |
|
|
20.223 |
|
|
Cash & Bank Balances |
|
|
0.089 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
6.792 |
|
Total
Current Assets |
|
|
28.454 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
27.010 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.166 |
|
Total
Current Liabilities |
|
|
27.176 |
|
|
Net Current Assets |
|
|
1.278 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
53.446 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Contractual Receipts |
|
|
18.198 |
|
|
|
Other Income |
|
|
0.298 |
|
|
|
TOTAL |
|
|
18.496 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
|
1.834 |
|
|
|
Construction Work Expenses |
|
|
6.034 |
|
|
|
Construction Work |
|
|
2.384 |
|
|
|
Lift at Madhav Palace Expense |
|
|
0.825 |
|
|
|
Repairing Expenses |
|
|
0.202 |
|
|
|
Salary Expenses |
|
|
0.691 |
|
|
|
Other Expenses |
|
|
5.132 |
|
|
|
TOTAL |
|
|
17.102 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
1.394 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.553 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT /
LOSS |
|
|
0.841 |
|
The above information has been parted by Mr. Iswarbhai.
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
PAT / Total Income |
(%) |
|
|
4.55 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
4.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
1.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
5.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.05 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for one year |
Yes |
|
12] |
Profitability for one year |
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
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 |
No |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
No |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
|
Unsecured Loan |
As
on 31.03.2012 [Rs.
in Millions] |
|
Ambica Traders |
0.500 |
|
Bhavesh I Thacker |
1.270 |
|
Himanshu I Thacker |
6.970 |
|
Nanji Devji Patel |
0.220 |
|
Nikhil I Thacker HUF |
1.500 |
|
Rohit Sachde |
0.185 |
|
TOTAL
|
10.645 |
TRADE REFERENCES:
Address: Plot No. 1, Ward
10/AA, Rambag Road, Gandhidham, Gujarat, India
Contact Person: Mr. Pankaj Madhavjibhai Thacker
Mobile No.: 91-9879350946
Tel No.: 91-2836-230048
Address: Plot No. 220,
Ward 12/B, Police Station Road, Gandhidham, Gujarat, India
Contact Person: Mr. Aileshbhai
Mobile No.: 91-9825012866
Tel No.: 91-2836-224998
Address: Plot No. 466,
Ward 3/B, Rambag Road, Gandhidham, Gujarat, India
Contact Person: Mr. Harshukhbhai Patel
Mobile No.: 91-9879350946
Tel No.: 91-2836-261697
Address: Shop No. Shaz 12,
Madanshi Chowk, Adipur
Contact Person: Mr. Rajubhai Thacker
Mobile No.: 91-9879205838
Tel No.: 91-2836-260038
------------------------------------------------------------------------------------------------------------------------------
COST OF PROJECT AND MEAN OF
FINANCE
|
PARTICULAR |
RS. IN MILLIONS |
|
COST OF PROJECT |
|
|
Land and Site Development |
0.000 |
|
Land Cost of Construction |
213.000 |
|
Selling and Administrative Expenses |
11.400 |
|
Interest During construction |
26.600 |
|
Contingecey (5%) |
9.000 |
|
|
|
|
TOTAL |
260.000 |
|
|
|
|
MEAN OF FINANCE |
|
|
Equity Share Capital |
40.000 |
|
Contribution From Members |
90.000 |
|
Term Loan |
130.000 |
|
|
|
|
TOTAL |
260.000 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT
OF FINANCIAL REQUIREMENT
OPERATING STATEMENT
(RS.
IN MILLIONS)
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(Projected) |
||||
|
Income |
0.000 |
0.000 |
0.000 |
202.400 |
202.400 |
|
Rental and Supervision Income |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total |
0.000 |
0.000 |
0.000 |
202.400 |
202.400 |
|
|
|
|
|
|
|
|
Expenditure |
|
|
|
|
|
|
Purchases |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Construction Expenses |
60.300 |
113.100 |
86.600 |
0.000 |
0.000 |
|
Staff Cost |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Depreciation |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Total Cost of
Production |
60.300 |
113.100 |
86.600 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Add: Op. WIP Stock |
0.000 |
60.300 |
173.400 |
260.000 |
0.000 |
|
Less: Cl. WIP Stock |
60.300 |
173.400 |
260.000 |
0.000 |
0.000 |
|
Cost of
Production |
0.000 |
0.000 |
0.000 |
260.000 |
0.000 |
|
|
|
|
|
|
|
|
Add: Op. Stock of F. Goods |
0.000 |
0.000 |
0.000 |
0.000 |
127.800 |
|
Less: Cl. Stock of F. Goods |
0.000 |
0.000 |
0.000 |
127.800 |
0.000 |
|
Cost of Goods
Sold |
0.000 |
0.000 |
0.000 |
132.200 |
127.800 |
|
|
|
|
|
|
|
|
Administrative Expenses |
0.000 |
0.000 |
0.000 |
05.100 |
05.100 |
|
Interest Cost (TL) |
0.000 |
0.000 |
0.000 |
17.200 |
07.600 |
|
Interest Cost (CC) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total Interest |
0.000 |
0.000 |
0.000 |
17.200 |
07.600 |
|
Profit on Sale of Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Miscellaneous Expenses Witten Off |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Profit Before
Tax |
0.000 |
0.000 |
0.000 |
47.900 |
62.000 |
|
|
|
|
|
|
|
|
Provision For Tax |
0.000 |
0.000 |
0.000 |
12.000 |
15.500 |
|
|
|
|
|
|
|
|
Profit After Tax
|
0.000 |
0.000 |
0.000 |
35.900 |
46.500 |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(RS.
IN MILLIONS)
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(Projected) |
||||
|
Share Capital |
13.000 |
29.700 |
40.000 |
40.000 |
40.000 |
|
Securities Premium |
|
|
|
|
|
|
Reserve and Surplus |
0.000 |
0.000 |
0.000 |
35.900 |
82.400 |
|
Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Networth |
13.000 |
29.700 |
40.000 |
75.900 |
122.400 |
|
|
|
|
|
|
|
|
Term Liabilities
|
|
|
|
|
|
|
Term Loan |
29.600 |
86.600 |
130.000 |
108.000 |
0.000 |
|
From Promoter and Family Conc. |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Unsecured Loan |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Booking Advance |
17.700 |
57.200 |
90.100 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
47.300 |
143.800 |
220.100 |
108.000 |
0.000 |
|
|
|
|
|
|
|
|
Current
Liabilities |
|
|
|
|
|
|
Bank Borrowing |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Creditors |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Advance From Customer |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Current Liability |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
60.300 |
173.500 |
260.100 |
183.900 |
122.400 |
|
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
Gross Block |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Depreciation |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Block |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Current Assets |
|
|
|
|
|
|
RM Sock |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
SIP Stock |
60.300 |
173.400 |
260.000 |
0.000 |
0.000 |
|
FG Stock |
0.000 |
0.000 |
0.000 |
127.800 |
0.000 |
|
Other C. Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Debtors |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Loans and Advances (Associate and Group Companies) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Advance Payment of Income Tax |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Cash and Bank Balance |
0.000 |
0.000 |
0.000 |
56.100 |
122.400 |
|
|
|
|
|
|
|
|
TOTAL |
60.300 |
173.500 |
260.100 |
183.900 |
122.400 |
|
|
|
|
|
|
|
|
Non Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Investment in Subsidiary Company |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Mis. Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL ASSETS |
60.300 |
173.500 |
260.100 |
183.900 |
122.400 |
------------------------------------------------------------------------------------------------------------------------------
DSCR CALCULATION
(RS.
IN MILLIONS)
|
PARTICULAR |
2015-16 |
2016-17 |
|
|
|
|
|
Total Income |
168.100 |
174.300 |
|
Interest Cost |
17.200 |
7.600 |
|
|
|
|
|
Networth |
185.400 |
181.800 |
|
|
|
|
|
Term Liabilities
|
|
|
|
Term Loan |
22.000 |
108.000 |
|
Interest Cost |
17.200 |
7.600 |
|
Sub Total |
39.200 |
115.600 |
|
DSCR |
4.73 |
1.57 |
|
Average DSCR |
3.15 |
|
------------------------------------------------------------------------------------------------------------------------------
CASH FLOW STATEMENT
(RS.
IN MILLIONS)
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(Projected) |
||||
|
SOURCES |
|
|
|
|
|
|
Profit After Tax
|
0.000 |
0.000 |
0.000 |
35.900 |
46.500 |
|
Increase in
Unsecured Loan |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Term
Loan |
29.600 |
57.000 |
43.400 |
0.000 |
0.000 |
|
Increase in
Capital |
13.000 |
16.600 |
10.300 |
0.000 |
0.000 |
|
Increase in
Other Current Liability |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in
Advance From Customers |
17.700 |
39.500 |
32.900 |
(90.100) |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
60.300 |
113.100 |
86.600 |
(54.200) |
46.500 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUND |
|
|
|
|
|
|
Increase in
CAPEX |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in
Inventory |
60.300 |
113.100 |
86.600 |
(132.200) |
(127.800) |
|
Increase in
Other Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Decrease in TL |
0.000 |
0.000 |
0.000 |
22.000 |
108.000 |
|
|
|
|
|
|
|
|
TOTAL |
60.300 |
113.100 |
86.600 |
(110.200) |
(19.800) |
|
|
|
|
|
|
|
|
Opening Balance |
0.000 |
0.000 |
0.000 |
0.000 |
56.100 |
|
Surplus During
the Period |
0.000 |
0.000 |
0.000 |
56.100 |
66.300 |
|
Closing Balance |
0.000 |
0.000 |
0.000 |
56.100 |
122.400 |
------------------------------------------------------------------------------------------------------------------------------
NET WORTH STATEMENT
[MR. BALWANTBHAI CHHAGANLAL
THACKER (RAJDE)]
(RS. IN MILLIONS)
|
Particulars |
31.12.2012 |
|
|
A. Immovable Properties [As per Annexure - 1] |
556.537 |
|
|
|
|
|
|
Immovable
Properties (A) |
|
556.537 |
|
|
|
|
|
B. Investment: |
|
|
|
GMCB Shares |
0.094 |
|
|
Rajkot Nagrik Bank Share |
0.000 |
|
|
Reliance Power Share |
0.007 |
|
|
Advance Payment of Shop at Ghandhidham Goods
Transport Association |
0.054 |
|
|
Total Investment
(B) |
|
0.155 |
|
|
|
|
|
C. Other Assets: |
1.482 |
|
|
|
|
|
|
Total Other
Assets (C) [As Per Annexure - 2] |
|
1.482 |
|
|
|
|
|
D. Total Assets
(D= A+B+C) |
|
558.174 |
|
|
|
|
|
Total
Secured/Unsecured Loan (E) |
|
41.955 |
|
|
|
|
|
Net Worth (D-E) |
|
516.219 |
[AS PER ANNEXURE - 1]
STATEMENT SHOWING DETAILS
OF IMMOVABLE PROPERTY
|
Particular |
Book Value |
Market Value |
|
|
Rs. in Millions |
|
|
Office No. S/F –
3 Madhav Palace |
0.867 |
2.795 |
|
Office No. S/F –
4 Madhav Palace |
1.088 |
3.500 |
|
Office No. S/F –
5 Madhav Palace |
1.026 |
3.280 |
|
Office No. S/F –
6 Madhav Palace |
0.975 |
3.150 |
|
Office No. S/F –
7 Madhav Palace |
0.974 |
3.150 |
|
Office No. S/F –
8 Madhav Palace |
1.297 |
4.170 |
|
Office No. S/F –
12 Madhav Palace |
1.397 |
3.306 |
|
Office No. S/F –
13 Madhav Palace |
1.365 |
3.306 |
|
Office No. S/F –
14 Madhav Palace |
1.365 |
3.306 |
|
Plot No. 109,
Sector 1/A |
4.236 |
14.000 |
|
Plot at Meghpar
Kumbharadi |
31.865 |
70.000 |
|
House at Plot
No. 310 Ward 3/A, Adipur |
1.189 |
17.500 |
|
Office at Madhav
Chambers, Plot No. 326, Ward 12B, Gandhidham, Kutch, 370201 |
0.395 |
7.074 |
|
Sugariya Land
Sr. No. 227/1 |
1.133 |
18.000 |
|
Survery No. 421
(Anjar) |
1.819 |
400.000 |
|
|
|
|
|
Total Fixed
Assets |
50.991 |
556.537 |
[As Per Annexure - 2]
STATEMENT SHOWING DETAILS OF
OTHER ASSETS NET OFF LIABILITIES
|
Details |
Rs. in Millions |
|
Other Assets |
|
|
Closing Stock |
3.094 |
|
Aada Deposits |
0.587 |
|
FDR - BCCB |
0.000 |
|
GDA Deposits |
0.183 |
|
PGVCL Deposits |
0.017 |
|
Rajkot Nagrik Bank Deposits |
0.001 |
|
Stock Holding Deposits |
0.001 |
|
Sundry Debtors |
17.928 |
|
Bank |
0.011 |
|
Advance Tax |
0.050 |
|
TDS |
0.008 |
|
Cash |
0.173 |
|
Fixed Assets Other Than Immovable Property |
4.981 |
|
Total Other
Assets (A) |
27.034 |
|
|
|
|
Other
Liabilities |
|
|
Advance Received For Anjar Site |
14.344 |
|
Sundry Creditors |
1.959 |
|
Advance Booking Meghpar Kumbhardi |
9.150 |
|
Deposits of Rent |
0.036 |
|
Audit Fees Payable |
0.028 |
|
Professional Fees Payable |
0.031 |
|
TDS Payable |
0.004 |
|
|
|
|
Total Other
Liabilities (B) |
25.552 |
|
|
|
|
Total Net Assets
(C = A – B) |
1.482 |
------------------------------------------------------------------------------------------------------------------------------
NET WORTH STATEMENT
(MR. DARSHIT BALWANTBHAI
THACKER)
(GUARANTOR)
(RS. IN MILLIONS)
|
Particulars |
31.12.2012 |
|
|
A. Immovable Properties |
|
|
|
Office No. 2, FF at Madhav Palace (Book
Value: Rs.0.868 Million) |
3.500 |
|
|
Office No. 3, FF at Madhav Palace (Book
Value: Rs.0.868 Million) |
3.500 |
|
|
Agriculture Land at Survey No. 24, Antarjal |
75.000 |
|
|
|
|
|
|
Immovable
Properties (A) |
|
82.000 |
|
|
|
|
|
B. Investment: |
|
|
|
Post Office Recurring Account |
0.037 |
|
|
HDFC LIP |
0.050 |
|
|
LIC |
0.121 |
|
|
Madhav Tractor |
(0.079) |
|
|
Total Investment
(B) |
|
0.129 |
|
|
|
|
|
C. Other Assets: |
|
|
|
|
|
|
|
Total Other
Assets (C) |
|
0.419 |
|
|
|
|
|
D. Total Assets
(D= A+B+C) |
|
82.548 |
|
|
|
|
|
Total
Secured/Unsecured Loan (E) |
|
1.732 |
|
|
|
|
|
Net Worth (D-E) |
|
80.816 |
------------------------------------------------------------------------------------------------------------------------------
NET WORTH STATEMENT
(MRS. CHETNABEN BALWANTBHAI
THACKER)
(GUARANTOR)
(RS. IN MILLIONS)
|
Particulars |
31.12.2012 |
|
|
A. Immovable Properties |
|
|
|
Shops at Bhavani Nagar (Book Value: Rs.1.934
Millions) |
6.000 |
|
|
Office No. 9, FF at Madhav Palace (Book
Value: Rs.0.967 Million) |
3.500 |
|
|
Agriculture Land and Survey No. 24, Antarjal
|
75.000 |
|
|
|
|
|
|
Immovable
Properties (A) |
|
84.500 |
|
|
|
|
|
B. Investment: |
|
|
|
Post Office Recurring Account |
0.037 |
|
|
Balance With M/S Om Exim |
0.042 |
|
|
Investment in shares of Madhav Resorts
Private Limited |
0.098 |
|
|
Madhav Tractor |
(0.286) |
|
|
Total Investment
(B) |
|
(0.109) |
|
|
|
|
|
C. Other Assets: |
|
|
|
|
|
|
|
Total Other
Assets (C) |
|
(1.977) |
|
|
|
|
|
D. Total Assets
(D= A+B+C) |
|
82.414 |
|
|
|
|
|
Total
Secured/Unsecured Loan (E) |
|
0.000 |
|
|
|
|
|
Net Worth (D-E) |
|
82.414 |
------------------------------------------------------------------------------------------------------------------------------
NET WORTH STATEMENT
(MR. PANKAJBAHI MADHAVJI
THACKEER (KATIRA))
(GUARANTOR)
(RS. IN MILLIONS)
|
Particulars |
31.12.2012 |
|
|
A. Immovable Properties |
|
|
|
|
|
|
|
Immovable
Properties (A) |
|
0.000 |
|
|
|
|
|
B. Investment: |
|
|
|
FD with Binani Cement |
0.050 |
|
|
Gandhidham Municipal Deposits |
0.010 |
|
|
GCB Locker Deposit |
0.003 |
|
|
Shares of GMCB |
0.106 |
|
|
Shares of GCB |
0.010 |
|
|
Total Investment
(B) |
|
0.179 |
|
|
|
|
|
C. Other Assets Net Off Liabilities:
[As Per Annexure - 1] |
|
|
|
|
|
|
|
Total Other
Assets (C) |
|
4.535 |
|
|
|
|
|
D. Total Assets
(D= A+B+C) |
|
4.714 |
|
|
|
|
|
Total
Secured/Unsecured Loan (E) |
|
2.001 |
|
|
|
|
|
Net Worth (D-E) |
|
2.713 |
[AS PER ANNEXURE -
1]
STATEMENT SHOWING DETAILS
OF OTHER ASSETS NET OFF LIABILITIES
|
Details |
Rs. in Millions |
|
Other Assets |
|
|
Fixed Assets Gold (Book Value Rs.1.757
Millions) |
2.000 |
|
Closing Stock |
2.345 |
|
Loans and Advances |
0.628 |
|
Sundry Debtors |
0.314 |
|
Bank |
0.006 |
|
Deposits |
0.152 |
|
Advances to Supplier |
0.032 |
|
Duties and Taxes |
0.089 |
|
Cash |
0.876 |
|
Total Other
Assets (A) |
6.442 |
|
|
|
|
Other
Liabilities |
|
|
Provisions |
0.018 |
|
Sundry Creditors |
1.844 |
|
Advance From Customers |
0.044 |
|
Total Other
Liabilities (B) |
1.906 |
|
|
|
|
Total Net Assets
(C = A – B) |
4.536 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF STATEMENT TO
TOTAL INCOME
(RS. IN
MILLIONS)
|
Income From House Property |
|
|
|
Income From House at Madhav Chamber
Gandhidham |
|
|
|
Rent received or receivable |
0.146 |
|
|
Less: 30% of the annual value (u/s 24) |
0.044 |
|
|
Income From House |
0.102 |
|
|
|
|
|
|
Income From Shop at Plot No. 109, Sector 1A, Gandhidham |
|
|
|
Rent received or receivable |
0.150 |
|
|
Less: 30% of the annual value (u/s 24) |
0.045 |
|
|
Income From Shop |
0.105 |
|
|
|
|
|
|
Income Chargeable under the held “Income From House Property” |
|
0.207 |
|
|
|
|
|
Income From Business/Profession |
|
|
|
Vraj Estate – Civil Construction
(Contractor) Civil Contractors |
|
|
|
Net Profit as per Profit and Loss A/C, Audited
u/s 44 AB |
0.841 |
|
|
Add: Depreciation Debited to P & L A/C |
0.553 |
|
|
|
1.394 |
|
|
Less: Depreciation allowable as per income
tax act |
0.554 |
|
|
|
0.840 |
|
|
|
|
|
|
Darshan Salt – Wholesaler Trading –
Wholesalers |
|
|
|
Income From Wholesale Trading (Covered u/s 44 AD being more than 8% of the
total turnover/gross receipt of Rs.1.327 Millions) |
0.114 |
|
|
Income chargeable under the head ‘Business/Profession’ |
|
0.954 |
|
|
|
|
|
Capital Gain |
|
|
|
Capital Gain on Sale of Other (Specify) – 13, SF, Plot 326, Ward – 12
B, Madhav Chamber |
|
|
|
Sale price as on 01.03.2012 |
0.326 |
|
|
Less: Indexed Cost of Acquisition (85, 189 x
785 / 447) |
0.150 |
|
|
(Cost as on 01.08.2002 – Rs.0.085 Million) |
|
|
|
Long Term Capital Gain |
|
0.176 |
|
|
|
|
|
Income From Other Sources |
|
|
|
GMCB Dividend |
0.037 |
|
|
Bank Saving A/c Interest |
0.000 |
|
|
Income chargeable under the head ‘Income From Other Sources’ |
|
0.037 |
|
|
|
1.375 |
|
|
|
|
|
Deductions Under Chapter VI A |
|
|
|
Investment and Deposits u/s 80C |
|
|
|
Kotak Life Insurance |
0.005 |
|
|
Life Insurance Premia |
0.083 |
|
|
|
0.088 |
|
|
u/s 80 CCE – Aggregate amount of deduction |
0.088 |
|
|
u/s 80 D – Mediclaim Insurance Premium |
0.007 |
|
|
u/s 80 GGC – Deductions in respect of
contributions given to political parties by any person |
0.100 |
0.195 |
|
|
|
|
|
Total Income (rounded off u/s 288A) |
|
1.180 |
|
|
|
|
|
Regular Income |
|
1.003 |
|
Long Term Capital Gain |
|
0.176 |
|
|
|
|
|
Agricultural Income |
|
0.066 |
|
|
|
|
|
Enclosures and Tax Computation |
|
|
|
Tax |
|
0.166 |
|
Tax on LTCG |
|
0.035 |
|
|
|
0.201 |
|
Add: Education Cess @ 3% |
|
0.006 |
|
|
|
0.207 |
|
|
|
|
|
Less: TDS |
|
0.039 |
|
|
|
0.168 |
|
Add: Interest |
|
0.016 |
|
u/s 234B (For 6 Months) |
0.010 |
|
|
u/s 234C |
0.006 |
|
|
Tax payable (rounded off u/s 288B) |
|
0.185 |
|
S.A. Tax Paid (28.09.2012) |
|
0.185 |
|
Balance Tax Payable |
|
0.000 |
|
|
|
|
|
Details of Interest Calculation |
|
|
|
Interest u/s 234B on Rs.0.168 million @ 1%
for 6 months |
0.010 |
0.010 |
|
Interest u/s 234C (I) on Rs.0.051 million @
1% for 3 months |
0.002 |
|
|
Interest u/s 234C (II) on Rs.0.101 million @
1% for 3 months |
0.003 |
|
|
Interest u/s 234C (III) on Rs.0.168 million
@ for 3 months |
0.002 |
0.006 |
|
Interest: |
|
0.016 |
|
|
|
|
|
Tax Working of Agriculture Income |
|
|
|
Regular Income |
|
1.003 |
|
Agriculture Income |
|
0.066 |
|
Tax on (1.003 million + 0.066 million) |
|
0.173 |
|
Exemption Limit: |
|
0.180 |
|
Tax on (0.180 million + 0.066 million) |
|
0.007 |
NOTES: Income tax return for the A.Y. 2011-12 had been
filled electronically on 30.09.2011 vide acknowledgement no. 302089521300911.
------------------------------------------------------------------------------------------------------------------------------
REPORT OF VALUATION OF
IMMOVABLE PROPERTY
PART – I
GENERAL
INFORMATION
|
Purpose for which valuation is made |
To know fair market value |
|
|
|
|
Date on Inspection is made |
17.02.2013 |
|
|
|
|
Name of Owner/Owners |
Mr. Balwantbhai Chaganlal Thacker Mrs. Chetnaben Balwantbhai Thacker and Mr. Darshit Balwantbhai Thacker |
|
|
|
|
If the property is under joint ownership
Co-ownership, share of each owner. Are the shares undivided? |
Yes, under joint ownership |
|
|
|
|
Brief Description of the property |
Residential plots (80 nos.) having under process of construction in
some of plots |
|
|
|
|
Location, Street, Ward No. |
Survey No. 421, Madhav Villa, Anjar-Kutch |
|
|
|
|
Survey No./ Plot No. of Land |
Survey No. 421, Madhav Villa, Anjar-Kutch |
|
|
|
|
In the property is situation in residential/
commercial/ mixed area/ industrial area? |
Residential Area |
|
|
|
|
Classification of Locality – High Class/
Middle Class/ Poor Class |
Medium Class |
|
|
|
|
Proximity to civil amenities like School
Hospital, Offices, Markets, Cinemas etc |
Near By |
|
|
|
|
Means and proximity to surface Communication by which the locality is
served. |
By Vehicle |
|
|
|
|
LAND |
|
|
|
|
|
Area of Land supported by documentary Proof, Shape, Dimensions and
Physical features. |
19098.76 Sf. Mtr. |
|
|
|
|
Roads, Streets or Lanes on which the land
abutting |
On Road |
|
|
|
|
Is there any
restrictive covenant in regard to use of land? |
Free-Hold Land |
|
|
|
|
Does the land fall in an area included in
any town planning scheme or any development plan of government or statutory
body? If so give particulars |
Anjar Area Development Authority |
|
|
|
|
Has the whole or part of the land been
notified for acquisition by government or any statutory body? Give date of
the notification |
No |
|
|
|
|
IMPROVEMENT |
|
|
Is the building owner occupied / tenanted
both? |
Owner Occupied |
|
|
|
PART - II
Valuation of property bearing Plot No. 1, to 6, 8, 10 to 16, 18, 37 to
44, 48 to 53, 55 to 60, 63 to 70, 87 to 94, 96 to 102, 106 to 112, 114 to 120,
133 to 140, (Total Nos. of Plots = 80) R.S. No. 421, Anjar-Kutch
Owner: Mr. Balwant Chaganlal Thacker, Mrs. Chetnaben B. Thacker and Mr.
Darshit B. Thacker
Surrounding of the Survey No. 421:
The property under consideration is
residential Plots in S. No. 421, On Satapar-Anjar Road, Anjar-Kutch. It is a
very good planned residential plotting scheme. There is tree plantation,
development of garden, road etc. are under process. There is beautiful entry
gates with compound wall around the scheme. Due to rapid industrialization on
nearby area the demand of land has been increased since last couple of years.
The prevailing rate of such type of plot of land in this area varies from
Rs.7500/ sq. mtr. to 7700/ sq. mtr. Depending upon shape, size and location.
Rs.7600/ sq. mtr. As fair market rate for the under consideration by enquiring
local estate agent and as per the location of the property. The plot is
admeasuring 19098.76 sq. mtr.
19098.76 x 7600.00 = Rs.145.150 Millions. Say
Rs.145.100 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 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.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.