|
Report Date : |
13.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
KASIM STEEL TRADERS |
|
|
|
|
Registered
Office : |
Shop No. 66, Avadh CHS Limited, Barnald Market, Opposite Asha Krishna
Building, Sakinaka, Mumbai – 400072,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Year of
Establishment : |
2006 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.027 Millions |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Trader of MS Steel Sheets. |
|
|
|
|
No. of Employees
: |
4 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established proprietory concern having a satisfactory
track record. There appears dip in sales and profit due to market recession. However, trade relations are fair. Business is active. Payment terms
are reported to be usually correct. The concern can be considered for business dealing at usual trade
terms and condition. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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’s current
account deficit or CAD in April-June widened to 4.9 % of gross domestic product.
High imports of gold and oil led to a worsening of the trade deficit, resulting
in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in
the corresponding quarter of the previous financial year. The government aims
to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2
billion in 2012/13.
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been named
the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
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. Saijad Shaikh |
|
Designation : |
Key Executive |
|
Contact No.: |
91-9833236555 |
|
Date : |
09.11.2013 |
LOCATIONS
|
Registered Office : |
Shop No. 66, Avadh CHS Limited, Barnald Market, Opposite Asha Krishna
Building, Sakinaka, Mumbai – 400072,
Maharashtra, India |
|
Tel. No.: |
91-22-28516093 |
|
Mobile No.: |
91-9833236555 (Mr. Saijad Shaikh) |
|
Fax No.: |
Not Available |
|
Area : |
600 Sq. ft. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Kasimali Lalmohammed Shaikh |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
01.06.1948 |
|
PAN No.: |
BFSPS3709E |
KEY EXECUTIVES
|
Name : |
Mr. Saijad Shaikh |
|
Designation : |
Key Executive |
BUSINESS DETAILS
|
Line of Business : |
Trader of MS Steel Sheets. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (60 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
|
Suppliers : |
· Wardhaman Enterprises Mumbai, Maharashtra, India Contact Person : Mr. Vipul Bhai – 91-9820054931 · Ankur Iron · Arya Ship Breaking · Delta Iron and Steel · Giriraj Iron · Krishna Sheet Process · Labdhi Enterprises · Param Shakti Steel · Rajkumar and Bros · Sanghvi International · S M Steel · Turkhiya steel · Yatin Steel |
|
|
|
|
Customers : |
· N. M. Fabrication Contact Person : Mr. Sarfaroz – 91-961997386 · Aaaman Ele Fabricators · A G Metal · A H Industries · Atlas Call Systems · Beyam Control · Cool Tech · Crystal Coat · Fine Fab · H A Metal · Heena Steel Traders · Ideal Fabricators · J K Ark · Malti Shine Ind. · Metal Square Eng · M S Fabricators · Om Eng · Oriental Metal · Padmgiri Enterprise · Pear Steel Cupboard · Royal Steel · S A Metal Works · S H Eng · Shree Shanti Eng · Techno Art · Tri Star Equipment · V H R Controls · Vinod Electricals |
|
|
|
|
No. of Employees : |
4 (Approximately) |
|
|
|
|
Bankers : |
· Bank of India Sakinaka, Mumbai, Maharashtra, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Paras B. Jain and Associates Chartered Accountant |
|
Address : |
31/33, Dr. M. B. Velkar Street, Mumbai – 400002, Maharashtra, India |
CAPITAL STRUCTURE
PROPRIETOR’S CAPITAL A/C AS ON 31.03.2013
(RS.
IN MILLIONS)
|
Particulars |
Amount |
Particulars |
Amount |
|
|
|
|
|
|
To Drawings |
0.136 |
By Balance b/d |
2.582 |
|
To Income Tax |
0.283 |
By Net Profit |
1.007 |
|
To LIC |
0.143 |
|
|
|
To Balance C/d |
3.027 |
|
|
|
|
|
|
|
|
Total |
3.589 |
Total |
3.589 |
-------------------------------------------------------------------------------------------------------------------------------------------------------
FINANCIAL DATA
[All figures are
in Rupees Millions]
Note: Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor’s Capital A/c |
3.027 |
2.581 |
1.889 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.027 |
2.581 |
1.889 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.770 |
0.770 |
0.770 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.770 |
0.770 |
0.770 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.797 |
3.351 |
2.659 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.584 |
3.637 |
3.699 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.497
|
5.025 |
3.609 |
|
|
Sundry Debtors |
18.708
|
15.450 |
9.341 |
|
|
Cash & Bank Balances |
0.946
|
1.827 |
0.958 |
|
|
Other Current Assets |
2.399
|
0.022 |
5.873 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
26.550
|
22.324 |
19.781 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
19.891
|
21.527 |
19.454 |
|
|
Other Current Liabilities |
6.276
|
0.987 |
1.302 |
|
|
Provisions |
0.170
|
0.096 |
0.065 |
|
Total
Current Liabilities |
26.337
|
22.610 |
20.821 |
|
|
Net Current Assets |
0.213
|
(0.286) |
(1.040) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.797 |
3.351 |
2.659 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
44.767 |
55.250 |
49.525 |
|
|
|
Other Income |
0.003 |
0.000 |
0.011 |
|
|
|
TOTAL |
44.770 |
55.250 |
49.536 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
42.958 |
53.318 |
47.746 |
|
|
|
Accounting Charges |
0.020 |
0.020 |
0.020 |
|
|
|
Audit Fees |
0.045 |
0.045 |
0.022 |
|
|
|
Bank Charges |
0.002 |
0.005 |
0.001 |
|
|
|
Conveyance |
0.025 |
0.025 |
0.016 |
|
|
|
Cooli and Cartage |
0.000 |
0.000 |
0.140 |
|
|
|
Commission |
0.000 |
0.007 |
0.000 |
|
|
|
Car Expenses |
0.088 |
0.085 |
0.043 |
|
|
|
Discount |
0.000 |
0.006 |
0.000 |
|
|
|
Electricity Charges |
0.138 |
0.068 |
0.041 |
|
|
|
Labour Charges |
0.000 |
0.000 |
0.006 |
|
|
|
MVAT |
0.183 |
0.021 |
0.023 |
|
|
|
Rent |
0.120 |
0.120 |
0.120 |
|
|
|
Rates and Taxes |
0.000 |
0.000 |
0.035 |
|
|
|
BMC Taxes |
0.001 |
0.011 |
0.000 |
|
|
|
Printing and Stationery |
0.000 |
0.003 |
0.004 |
|
|
|
Salary |
0.120 |
0.120 |
0.073 |
|
|
|
Professional Charges |
0.000 |
0.000 |
0.007 |
|
|
|
Transport Expenses |
0.000 |
0.061 |
0.000 |
|
|
|
Tea Expenses |
0.000 |
0.000 |
0.016 |
|
|
|
Telephone Charges |
0.010 |
0.033 |
0.055 |
|
|
|
TOTAL |
43.710 |
53.948 |
48.368 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1.060 |
1.302 |
1.168 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.060 |
1.302 |
1.168 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.053 |
0.062 |
0.073 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
1.007 |
1.240 |
1.095 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.25
|
2.24 |
2.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.25
|
2.24 |
2.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.34
|
4.78 |
4.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.48 |
0.58 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.25
|
0.30 |
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01
|
0.99 |
0.95 |
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 |
Yes |
|
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 last three years |
Yes |
|
12] |
Profitability for last three 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 |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
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 |
No |
|
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 |
-------------------------------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF TOTAL INCOME
(PROP: KASIMALI LALMOHAMMED SHAILKH)
(RS. IN MILLIONS)
|
Particulars |
2013.2014 |
|
|
|
|
Net Profit as per Profit and Loss Account |
1.007 |
|
Less: Deduction Under Chapter VIA U/s 80C |
0.100 |
|
Net Total Income |
0.907 |
|
|
|
|
Rounded off to Rs. |
0.907 |
|
|
|
|
TAX ON TOTAL INCOME
|
|
|
|
|
|
Income Tax on Total Inc. |
0.106 |
|
Education Cess 3% |
0.003 |
|
Balance Payable |
0.109 |
|
Advance Tax Paid |
0.125 |
|
|
(0.016) |
|
Interests U/s 234C |
0.003 |
|
Refundable |
(0.013) |
-------------------------------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
|
Purpose for which valuation is made |
To Assess fair market value |
|
|
|
|
Date as on which valuation is made |
28th May 2013 |
|
|
|
|
Name of the Owner/Owners |
Mrs. Sabrunnisa Kasim Ali |
|
|
|
|
Name of the Developers |
M/s Sagar Constructions |
|
|
|
|
Of the Property is under joint ownership / Co-ownership, Share of each such owner. Are the shares Undivided? |
Ownership |
|
|
|
|
Brief description of the Property Carpet Area Built up area |
Residential Premises 559 sq. ft. (51.93 sq. m) 596 sq. ft. (55.37 sq. m) |
|
|
|
|
Location, Street, Ward No. |
Flat No.B-11, 3rd Floor, Sun Sagar CHS Ltd., B-Building, S. No.22/19, H. No.18/1, CTS o.47 & 49, Samsuddin Nagar, Kurla Andheri Road, Kurla, Mumbai 400072 |
|
|
|
|
Survey / Plot No. of Land |
S. No.22/19, H. No.18/1, CTS No.47 & 49 |
|
|
|
|
Nearest Landmark |
Sagar Plaza CHS |
|
|
|
|
Nearest Bus Stop |
Jarimari Bus Stop |
|
|
|
|
Members Present Suring Inspection |
Mr. Shazad |
|
|
|
|
Is the Property situated in residential/ commercial/ mixed area/ Industrial area? |
Residential Area |
|
|
|
|
Classification of Locality- High Class/ Middle Class/ Poor Class |
Middle Class |
|
|
|
|
Proximity to civic amenities, Like School, Hospitals, Shops, Markets, Cinema etc. |
Basic civic Amenities are within reach. |
|
|
|
|
Means and Proximity to surface Communications by the locality is served |
Situated at app. 6 kms from Kurla Railway Station |
|
|
|
|
Does the land fall in an area included in any town planning scheme or any development plan of Government or any statutory body? If so give particulars. |
Municipal Corporation of Greater Mumbai |
|
|
|
|
Is the Building Owner-Occupied/ Tenanted/ Both? |
Owners Occupied |
|
|
|
|
If a pump is installed, who has to bear the cost of maintenance and operation owner or tenant? |
Member of the society |
|
|
|
|
Who has to bear the cost of electricity charges for lighting of common space like entrance hall, Stairs, Passages, Compound etc. Owner or tenant? |
Member of the society |
|
|
|
|
What is the amount of Property tax? Who is the bear it? Give details with documentary Proof |
Member of the society |
|
|
|
|
If sale instances are not available or not relied upon the basis of arriving at the land rate |
Making Market Survey |
|
|
|
|
What was the method of construction by Contract / By employing labour directly/ both? |
Constructed by Contractor |
|
No. of floors and heights of each floor |
G + 3 Storied Building |
|
|
|
|
Plinth area floor wise (As per IS: 3861-1966) |
Not Available |
|
|
|
|
Year of Construction |
App. 2000 |
|
|
|
|
Estimated future life |
47 years |
|
|
|
|
Type of construction – Load bearing walls. R.C.C. Frame/ Steel Frame |
R.C.C. framed structure |
|
|
|
|
Type of Foundations |
RCC |
|
|
|
|
Walls |
Brick Walls |
|
|
|
|
Partitions |
Brick Walls |
|
|
|
|
Description about the flat |
Two bedrooms, living room, Kitchen, Bath and Toilet |
|
|
|
|
Doors and Windows |
Wooden Door and Aluminum Sliding Windows |
|
|
|
|
Flooring |
Marble Flooring |
|
|
|
|
Finishing |
Good Finishing |
|
|
|
|
Roofing and Terracing |
RCC slab Roofing |
|
|
|
|
Special Architectural or Decorative features, if any |
Not Available |
|
|
|
|
Internal Wiring – Surface or Conduit Class of fitting – Superior/ Ordinary/ Poor |
Concealed Wiring Good |
|
|
|
|
Sanitary Installations |
IWC, bath with concealed plumbing and Full Tilling |
|
|
|
|
Compound Wall |
Compound wall provided |
|
|
|
|
Sewage if septic tanks provided o. and capacity |
Connected to Municipal Sewer |
|
|
|
|
Stamp Duty Rate |
49,700/- sq. m (4,617/- sq. ft) |
|
|
|
|
VALUATION |
|
|
Agreement Value |
Rs.0.310 Million Dated 04.05.2006 |
|
|
|
|
Market Value as per Stamp Duty |
Rs.0.626 Million Dated 04.05.2006 |
|
|
|
|
Replacement cost for insurance Purpose |
= Built up area x construction rate = 596 sq. ft. x 1,500/- sq. ft. = Rs.0.894 Million |
|
|
|
|
Summary of Valuation |
The valuation of the Flat is based on prevalent rate in the area. The unit market rate of Rs.13,000/- sq. ft. is considered for assessment. |
|
|
|
|
Prevailing Market Value of Flat |
= Built up area x Market rate = 596 sq. ft. x 13,000/- sq. ft. = 7.748 Millions |
|
|
|
|
Depreciation |
Deduct depreciation by straight line method and taking a Original cost of Rs.700/- sq. ft. of built up area =Total Life of Building – Future Life ----------------------------------------------- x (100% less Total Life Salvage Value)
= 13 ------ x (596 sq. ft. x Rs.700/-) x 90% 60 = Rs.0.081 Million |
|
|
|
|
Present Market value of the Flat after taking depreciation |
= Rs.7.748 Millions – Rs.0.081 Million = Rs.7.667 Millions |
|
|
|
|
Value: In the light of all that is stated above, and on the basis of our judgment, market enquiries and consultation with the sources familiar with the area, they valued the said Flat at Rs.7.670 Million |
|
|
|
|
|
Market value of the Property |
Rs.7.670 Millions |
|
|
|
|
Realizable value of the property (10% less than the Market value) |
Rs.6.903 Millions Rs.6.900 Millions |
|
|
|
|
Distress sale value of the property (15 % less than the market value) |
Rs.6.520 Millions Rs.6.520 Millions |
|
|
|
|
Government stamp Duty Value as per ready Reckoner 2013 |
Rs.2.752 Millions |
CARPET AREA AS PER MEASUREMENT
|
Description |
Length in ft. |
Width in ft. |
Total Carpet area in sq. Ft. |
|
|
|
|
|
|
Living Room |
9.50 |
20.17 |
191.62 |
|
Passage |
4.00 |
3.67 |
14.68 |
|
3.00 |
6.42 |
19.26 |
|
|
WC |
3.00 |
4.00 |
12.00 |
|
Bath |
3.50 |
7.00 |
24.50 |
|
Bedroom |
9.00 |
11.42 |
102.78 |
|
Bedroom |
9.00 |
11.00 |
99.00 |
|
Kitchen |
9.75 |
9.75 |
95.06 |
|
|
|
|
|
|
|
Total |
|
559.00 |
-------------------------------------------------------------------------------------------------------------------------------------------------------
TRADE REFERENCE
· Wardhaman Enterprises
· N. M. Fabrication
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.63.59 |
|
|
1 |
Rs.101.55 |
|
Euro |
1 |
Rs.85.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
--RBI |
YES/NO |
No |
|
--EPF |
YES/NO |
No |
|
TOTAL |
|
43 |
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 |
-- |
|
Report Date : |
13.11.2013 |
|
|
|
|
Tel. No.: |
28516093 9833236555 |
IDENTIFICATION DETAILS
|
Name : |
KASIM STEEL TRADERS |
|
|
|
|
Registered
Office : |
Shop No. 66, Avadh CHS Limited, Barnald Market, Opposite Asha Krishna
Building, Sakinaka, Mumbai – 400072,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Year of
Establishment : |
2006 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.027 Millions |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Trader of MS Steel Sheets. |
|
|
|
|
No. of Employees
: |
4 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established proprietory concern having a satisfactory
track record. There appears dip in sales and profit due to market recession. However, trade relations are fair. Business is active. Payment terms
are reported to be usually correct. The concern can be considered for business dealing at usual trade
terms and condition. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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’s current
account deficit or CAD in April-June widened to 4.9 % of gross domestic
product. High imports of gold and oil led to a worsening of the trade deficit,
resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9
billion in the corresponding quarter of the previous financial year. The
government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from
4.8 % or $ 88.2 billion in 2012/13.
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top spot
for the world’s most honest city while Lisbon, the capital of Portugal, proved
to be the least honest. The survey put hundreds of people to test in four
continents to find out just how honest they were by dropping wallets and seeing
how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
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. Saijad Shaikh |
|
Designation : |
Key Executive |
|
Contact No.: |
91-9833236555 |
|
Date : |
09.11.2013 |
LOCATIONS
|
Registered Office : |
Shop No. 66, Avadh CHS Limited, Barnald Market, Opposite Asha Krishna Building,
Sakinaka, Mumbai – 400072,
Maharashtra, India |
|
Tel. No.: |
91-22-28516093 |
|
Mobile No.: |
91-9833236555 (Mr. Saijad Shaikh) |
|
Fax No.: |
Not Available |
|
Area : |
600 Sq. ft. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Kasimali Lalmohammed Shaikh |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
01.06.1948 |
|
PAN No.: |
BFSPS3709E |
KEY EXECUTIVES
|
Name : |
Mr. Saijad Shaikh |
|
Designation : |
Key Executive |
BUSINESS DETAILS
|
Line of Business : |
Trader of MS Steel Sheets. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (60 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
|
Suppliers : |
· Wardhaman Enterprises Mumbai, Maharashtra, India Contact Person : Mr. Vipul Bhai – 91-9820054931 · Ankur Iron · Arya Ship Breaking · Delta Iron and Steel · Giriraj Iron · Krishna Sheet Process · Labdhi Enterprises · Param Shakti Steel · Rajkumar and Bros · Sanghvi International · S M Steel · Turkhiya steel · Yatin Steel |
|
|
|
|
Customers : |
· N. M. Fabrication Contact Person : Mr. Sarfaroz – 91-961997386 · Aaaman Ele Fabricators · A G Metal · A H Industries · Atlas Call Systems · Beyam Control · Cool Tech · Crystal Coat · Fine Fab · H A Metal · Heena Steel Traders · Ideal Fabricators · J K Ark · Malti Shine Ind. · Metal Square Eng · M S Fabricators · Om Eng · Oriental Metal · Padmgiri Enterprise · Pear Steel Cupboard · Royal Steel · S A Metal Works · S H Eng · Shree Shanti Eng · Techno Art · Tri Star Equipment · V H R Controls · Vinod Electricals |
|
|
|
|
No. of Employees : |
4 (Approximately) |
|
|
|
|
Bankers : |
· Bank of India Sakinaka, Mumbai, Maharashtra, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Paras B. Jain and Associates Chartered Accountant |
|
Address : |
31/33, Dr. M. B. Velkar Street, Mumbai – 400002, Maharashtra, India |
CAPITAL STRUCTURE
PROPRIETOR’S CAPITAL A/C AS ON 31.03.2013
(RS.
IN MILLIONS)
|
Particulars |
Amount |
Particulars |
Amount |
|
|
|
|
|
|
To Drawings |
0.136 |
By Balance b/d |
2.582 |
|
To Income Tax |
0.283 |
By Net Profit |
1.007 |
|
To LIC |
0.143 |
|
|
|
To Balance C/d |
3.027 |
|
|
|
|
|
|
|
|
Total |
3.589 |
Total |
3.589 |
-------------------------------------------------------------------------------------------------------------------------------------------------------
FINANCIAL DATA
[All figures are
in Rupees Millions]
Note: Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor’s Capital A/c |
3.027 |
2.581 |
1.889 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.027 |
2.581 |
1.889 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.770 |
0.770 |
0.770 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.770 |
0.770 |
0.770 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.797 |
3.351 |
2.659 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.584 |
3.637 |
3.699 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.497
|
5.025 |
3.609 |
|
|
Sundry Debtors |
18.708
|
15.450 |
9.341 |
|
|
Cash & Bank Balances |
0.946
|
1.827 |
0.958 |
|
|
Other Current Assets |
2.399
|
0.022 |
5.873 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
26.550
|
22.324 |
19.781 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
19.891
|
21.527 |
19.454 |
|
|
Other Current Liabilities |
6.276
|
0.987 |
1.302 |
|
|
Provisions |
0.170
|
0.096 |
0.065 |
|
Total
Current Liabilities |
26.337
|
22.610 |
20.821 |
|
|
Net Current Assets |
0.213
|
(0.286) |
(1.040) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.797 |
3.351 |
2.659 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
44.767 |
55.250 |
49.525 |
|
|
|
Other Income |
0.003 |
0.000 |
0.011 |
|
|
|
TOTAL |
44.770 |
55.250 |
49.536 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
42.958 |
53.318 |
47.746 |
|
|
|
Accounting Charges |
0.020 |
0.020 |
0.020 |
|
|
|
Audit Fees |
0.045 |
0.045 |
0.022 |
|
|
|
Bank Charges |
0.002 |
0.005 |
0.001 |
|
|
|
Conveyance |
0.025 |
0.025 |
0.016 |
|
|
|
Cooli and Cartage |
0.000 |
0.000 |
0.140 |
|
|
|
Commission |
0.000 |
0.007 |
0.000 |
|
|
|
Car Expenses |
0.088 |
0.085 |
0.043 |
|
|
|
Discount |
0.000 |
0.006 |
0.000 |
|
|
|
Electricity Charges |
0.138 |
0.068 |
0.041 |
|
|
|
Labour Charges |
0.000 |
0.000 |
0.006 |
|
|
|
MVAT |
0.183 |
0.021 |
0.023 |
|
|
|
Rent |
0.120 |
0.120 |
0.120 |
|
|
|
Rates and Taxes |
0.000 |
0.000 |
0.035 |
|
|
|
BMC Taxes |
0.001 |
0.011 |
0.000 |
|
|
|
Printing and Stationery |
0.000 |
0.003 |
0.004 |
|
|
|
Salary |
0.120 |
0.120 |
0.073 |
|
|
|
Professional Charges |
0.000 |
0.000 |
0.007 |
|
|
|
Transport Expenses |
0.000 |
0.061 |
0.000 |
|
|
|
Tea Expenses |
0.000 |
0.000 |
0.016 |
|
|
|
Telephone Charges |
0.010 |
0.033 |
0.055 |
|
|
|
TOTAL |
43.710 |
53.948 |
48.368 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1.060 |
1.302 |
1.168 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.060 |
1.302 |
1.168 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.053 |
0.062 |
0.073 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
1.007 |
1.240 |
1.095 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.25
|
2.24 |
2.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.25
|
2.24 |
2.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.34
|
4.78 |
4.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.48 |
0.58 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.25
|
0.30 |
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01
|
0.99 |
0.95 |
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 |
Yes |
|
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 last three years |
Yes |
|
12] |
Profitability for last three 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 |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
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 |
No |
|
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 |
-------------------------------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF TOTAL INCOME
(PROP: KASIMALI LALMOHAMMED SHAILKH)
(RS. IN MILLIONS)
|
Particulars |
2013.2014 |
|
|
|
|
Net Profit as per Profit and Loss Account |
1.007 |
|
Less: Deduction Under Chapter VIA U/s 80C |
0.100 |
|
Net Total Income |
0.907 |
|
|
|
|
Rounded off to Rs. |
0.907 |
|
|
|
|
TAX ON TOTAL INCOME
|
|
|
|
|
|
Income Tax on Total Inc. |
0.106 |
|
Education Cess 3% |
0.003 |
|
Balance Payable |
0.109 |
|
Advance Tax Paid |
0.125 |
|
|
(0.016) |
|
Interests U/s 234C |
0.003 |
|
Refundable |
(0.013) |
-------------------------------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
|
Purpose for which valuation is made |
To Assess fair market value |
|
|
|
|
Date as on which valuation is made |
28th May 2013 |
|
|
|
|
Name of the Owner/Owners |
Mrs. Sabrunnisa Kasim Ali |
|
|
|
|
Name of the Developers |
M/s Sagar Constructions |
|
|
|
|
Of the Property is under joint ownership / Co-ownership, Share of each such owner. Are the shares Undivided? |
Ownership |
|
|
|
|
Brief description of the Property Carpet Area Built up area |
Residential Premises 559 sq. ft. (51.93 sq. m) 596 sq. ft. (55.37 sq. m) |
|
|
|
|
Location, Street, Ward No. |
Flat No.B-11, 3rd Floor, Sun Sagar CHS Ltd., B-Building, S. No.22/19, H. No.18/1, CTS o.47 & 49, Samsuddin Nagar, Kurla Andheri Road, Kurla, Mumbai 400072 |
|
|
|
|
Survey / Plot No. of Land |
S. No.22/19, H. No.18/1, CTS No.47 & 49 |
|
|
|
|
Nearest Landmark |
Sagar Plaza CHS |
|
|
|
|
Nearest Bus Stop |
Jarimari Bus Stop |
|
|
|
|
Members Present Suring Inspection |
Mr. Shazad |
|
|
|
|
Is the Property situated in residential/ commercial/ mixed area/ Industrial area? |
Residential Area |
|
|
|
|
Classification of Locality- High Class/ Middle Class/ Poor Class |
Middle Class |
|
|
|
|
Proximity to civic amenities, Like School, Hospitals, Shops, Markets, Cinema etc. |
Basic civic Amenities are within reach. |
|
|
|
|
Means and Proximity to surface Communications by the locality is served |
Situated at app. 6 kms from Kurla Railway Station |
|
|
|
|
Does the land fall in an area included in any town planning scheme or any development plan of Government or any statutory body? If so give particulars. |
Municipal Corporation of Greater Mumbai |
|
|
|
|
Is the Building Owner-Occupied/ Tenanted/ Both? |
Owners Occupied |
|
|
|
|
If a pump is installed, who has to bear the cost of maintenance and operation owner or tenant? |
Member of the society |
|
|
|
|
Who has to bear the cost of electricity charges for lighting of common space like entrance hall, Stairs, Passages, Compound etc. Owner or tenant? |
Member of the society |
|
|
|
|
What is the amount of Property tax? Who is the bear it? Give details with documentary Proof |
Member of the society |
|
|
|
|
If sale instances are not available or not relied upon the basis of arriving at the land rate |
Making Market Survey |
|
|
|
|
What was the method of construction by Contract / By employing labour directly/ both? |
Constructed by Contractor |
|
No. of floors and heights of each floor |
G + 3 Storied Building |
|
|
|
|
Plinth area floor wise (As per IS: 3861-1966) |
Not Available |
|
|
|
|
Year of Construction |
App. 2000 |
|
|
|
|
Estimated future life |
47 years |
|
|
|
|
Type of construction – Load bearing walls. R.C.C. Frame/ Steel Frame |
R.C.C. framed structure |
|
|
|
|
Type of Foundations |
RCC |
|
|
|
|
Walls |
Brick Walls |
|
|
|
|
Partitions |
Brick Walls |
|
|
|
|
Description about the flat |
Two bedrooms, living room, Kitchen, Bath and Toilet |
|
|
|
|
Doors and Windows |
Wooden Door and Aluminum Sliding Windows |
|
|
|
|
Flooring |
Marble Flooring |
|
|
|
|
Finishing |
Good Finishing |
|
|
|
|
Roofing and Terracing |
RCC slab Roofing |
|
|
|
|
Special Architectural or Decorative features, if any |
Not Available |
|
|
|
|
Internal Wiring – Surface or Conduit Class of fitting – Superior/ Ordinary/ Poor |
Concealed Wiring Good |
|
|
|
|
Sanitary Installations |
IWC, bath with concealed plumbing and Full Tilling |
|
|
|
|
Compound Wall |
Compound wall provided |
|
|
|
|
Sewage if septic tanks provided o. and capacity |
Connected to Municipal Sewer |
|
|
|
|
Stamp Duty Rate |
49,700/- sq. m (4,617/- sq. ft) |
|
|
|
|
VALUATION |
|
|
Agreement Value |
Rs.0.310 Million Dated 04.05.2006 |
|
|
|
|
Market Value as per Stamp Duty |
Rs.0.626 Million Dated 04.05.2006 |
|
|
|
|
Replacement cost for insurance Purpose |
= Built up area x construction rate = 596 sq. ft. x 1,500/- sq. ft. = Rs.0.894 Million |
|
|
|
|
Summary of Valuation |
The valuation of the Flat is based on prevalent rate in the area. The unit market rate of Rs.13,000/- sq. ft. is considered for assessment. |
|
|
|
|
Prevailing Market Value of Flat |
= Built up area x Market rate = 596 sq. ft. x 13,000/- sq. ft. = 7.748 Millions |
|
|
|
|
Depreciation |
Deduct depreciation by straight line method and taking a Original cost of Rs.700/- sq. ft. of built up area =Total Life of Building – Future Life ----------------------------------------------- x (100% less Total Life Salvage Value)
= 13 ------ x (596 sq. ft. x Rs.700/-) x 90% 60 = Rs.0.081 Million |
|
|
|
|
Present Market value of the Flat after taking depreciation |
= Rs.7.748 Millions – Rs.0.081 Million = Rs.7.667 Millions |
|
|
|
|
Value: In the light of all that is stated above, and on the basis of our judgment, market enquiries and consultation with the sources familiar with the area, they valued the said Flat at Rs.7.670 Million |
|
|
|
|
|
Market value of the Property |
Rs.7.670 Millions |
|
|
|
|
Realizable value of the property (10% less than the Market value) |
Rs.6.903 Millions Rs.6.900 Millions |
|
|
|
|
Distress sale value of the property (15 % less than the market value) |
Rs.6.520 Millions Rs.6.520 Millions |
|
|
|
|
Government stamp Duty Value as per ready Reckoner 2013 |
Rs.2.752 Millions |
CARPET AREA AS PER MEASUREMENT
|
Description |
Length in ft. |
Width in ft. |
Total Carpet area in sq. Ft. |
|
|
|
|
|
|
Living Room |
9.50 |
20.17 |
191.62 |
|
Passage |
4.00 |
3.67 |
14.68 |
|
3.00 |
6.42 |
19.26 |
|
|
WC |
3.00 |
4.00 |
12.00 |
|
Bath |
3.50 |
7.00 |
24.50 |
|
Bedroom |
9.00 |
11.42 |
102.78 |
|
Bedroom |
9.00 |
11.00 |
99.00 |
|
Kitchen |
9.75 |
9.75 |
95.06 |
|
|
|
|
|
|
|
Total |
|
559.00 |
-------------------------------------------------------------------------------------------------------------------------------------------------------
TRADE REFERENCE
· Wardhaman Enterprises
· N. M. Fabrication
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.63.59 |
|
|
1 |
Rs.101.55 |
|
Euro |
1 |
Rs.85.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
--RBI |
YES/NO |
No |
|
--EPF |
YES/NO |
No |
|
TOTAL |
|
43 |
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.