|
Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
DMD DEVELOPERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
303, Jewellers Apartment, Peddar Road, Mumbai – 400026, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.11.2009 |
|
|
|
|
Com. Reg. No.: |
11-197319 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 50.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45202MH2009PTC197319 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD17648B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCD2762N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged into Real Estate Developers. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 200000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record.
Financial of the company seems to be improving over the years. Latest profit
and loss account of the company is not available. However, trade relations are reported as fair. Business is active.
Payments are unknown. The company can be considered for business dealings with some caution. |
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 |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
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.
LOCATIONS
|
Registered Office : |
303, Jewellers Apartment, Peddar Road, Mumbai – 400026, Maharashtra,
India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
‘Sagar House’, Parshwa Nagar Complex, Majura Gate, Surat – 395001,
Gujarat, India |
|
Tel. No.: |
91-261-3918434 |
|
E-Mail : |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Dharmesh bhai Padamshibhai Patel |
|
Designation : |
Director |
|
Address : |
1102, Adharshila Apartment, Ghoddod Road, Surat – 395007, Gujarat,
India |
|
Date of Birth/Age : |
01.06.1959 |
|
Date of Appointment : |
16.03.2012 |
|
DIN No.: |
00014810 |
|
|
|
|
Name : |
Ms. Pinal Dharmesh Patel |
|
Designation : |
Director |
|
Address : |
1102, Adharshila Apartment, Ghoddod Road, Surat – 395007, Gujarat,
India |
|
Date of Birth/Age : |
15.12.1987 |
|
Date of Appointment : |
16.03.2012 |
|
DIN No.: |
05233341 |
|
|
|
|
Name : |
Mrs. Manjulaben Dharmeshbhai Patel |
|
Designation : |
Director |
|
Address : |
1102, Adharshila Apartment, Ghoddod Road, Surat – 395007, Gujarat,
India |
|
Date of Birth/Age : |
01.05.1953 |
|
Date of Appointment : |
25.11.2009 |
|
DIN No.: |
00014816 |
|
|
|
|
Name : |
Mr. Dhwanil Dharmeshbhai Patel |
|
Designation : |
Director |
|
Address : |
1102, Adharshila Apartment, Ghoddod Road, Surat – 395007, Gujarat,
India |
|
Date of Birth/Age : |
07.04.1991 |
|
Date of Appointment : |
16.03.2012 |
|
DIN No.: |
03057771 |
|
|
|
MAJOR SHAREHOLDERS
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Dharmesh bhai Padamshibhai Patel |
|
3749998 |
|
Manjulaben Dharmeshbhai Patel |
|
1250000 |
|
Jayendrika Bhojak |
|
1 |
|
Madhusudan International |
|
1 |
|
Total |
|
5000000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into Real Estate Developers. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
State Bank of India, Ground
Floor, Trade House, Mandarwaja, Surat - 395002, Gujarat, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
---- |
|
|
|
|
Financial
institution: |
Reliance Home Finance
Private Limited, 570, Rectifier House, 3rd Floor, Naigaum Cross Road, Wadala,
Mumbai - 400031, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
P K M G and Company Chartered Accountants |
|
Address : |
7011, World Trade Centre, Ring Road, Surat- 395002, Gujarat, India |
|
PAN No.: |
AALFP0373J |
|
|
|
|
Subsidiaries: |
Dharam Sons Developers Private Limited India CIN NO.:U45200GJ2006PTC047633 |
|
|
|
|
Other Related
Parties: |
·
Kinjal Gems Private Limited, India ·
Manav Diamonds Private Limited, India ·
Mayank Exports, India ·
Meenaxi Developers, India ·
Ramdev Marketing, India ·
Shree Arihant Gems, India ·
Shree Bhairav Star Jewels Private Limited, India ·
Adeshwar Impex Private Limited, India ·
Mahusudan International, India |
CAPITAL STRUCTURE
As on 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
50.000 |
50.000 |
0.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.020 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
50.020 |
50.000 |
0.500 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
795.349 |
409.411 |
0.000 |
|
|
2] Unsecured Loans |
221.184 |
235.411 |
163.772 |
|
|
TOTAL BORROWING |
1016.533 |
644.822 |
163.772 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1066.553 |
694.822 |
164.272 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.326 |
0.271 |
0.135 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
82.221 |
109.900 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.020 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1305.734
|
681.420 |
60.544 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
189.393
|
1.928 |
0.554 |
|
|
Other Current Assets |
2.163
|
2.886 |
0.000 |
|
|
Loans & Advances |
39.632
|
5.682 |
146.943 |
|
Total
Current Assets |
1536.922
|
691.916 |
208.041 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
42.417
|
30.276 |
9.016 |
|
|
Other Current Liabilities |
515.450
|
76.915 |
34.433 |
|
|
Provisions |
0.069
|
0.074 |
0.472 |
|
Total
Current Liabilities |
557.936
|
107.265 |
43.921 |
|
|
Net Current Assets |
978.986
|
584.651 |
164.110 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.017 |
|
|
|
|
|
|
|
|
TOTAL |
1066.553 |
694.822 |
164.272 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
31.47
|
15.04 |
44.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.75
|
6.45 |
4.74 |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
No |
|
12] |
Profitability for last
three years |
No |
|
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) |
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 |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U45202MH2009PTC197319 |
|
Name of the
company |
DMD DEVELOPERS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
303, Jewellers
Apartment, Peddar Road, Mumbai -
400026, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Reliance Home Finance Private Limited, 570, Rectifier House, 3rd Floor Naigaum Cross Road, Wadala Mumbai – 400031 Maharashtra, India |
|
Nature of
instrument creating charge |
Indenture of
Mortgage |
|
Date of
instrument Creating the charge |
02.02.2011 |
|
Amount secured by
the charge |
Rs. 400.000
Milions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 13.99% Terms of Repayment 34 Month Margin 100% Extent and Operation of the charge FULL |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
·
NA
Land situated at Moje Althan R S No. 92, Block 116, TP Sch no. 36( Althan) FP
51 Admeasuring 17495 sq mtr in ownership and possession of DMD Developers
Private Limited known as spring Valley scheme ·
comprising
of Proposed building no.s A1,A2, A3, A4, B1 and B2 having G + 12 Floors as
per approved plan |
Note : Registered office of the company has been
shifted from 304, Maru Tower, Jame Jamshed Road,
Matunga (East) Mumbai – 400019, Maharashtra, India to the Present address.
Unsecured Loan
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Loans and advances from related directors |
218.844 |
220.091 |
|
Loans and advances from others |
2.340 |
15.320 |
|
Total |
221.184 |
235.411 |
Fixed Assets
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
·
Other Equipments
·
Motor Vehicles
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 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.54.83 |
|
|
1 |
Rs.87.99 |
|
Euro |
1 |
Rs.72.83 |
INFORMATION DETAILS
|
Report Prepared
by : |
SPN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |