|
Report Date : |
07.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
L AND T ASIAN REALTY PROJECT LLP |
|
|
|
|
Registered
Office : |
L and T House Ballard Estate, Mumbai – 400 001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.06.2011 |
|
|
|
|
Total Obligation
of Contribution: |
Rs.0.100 Million |
|
|
|
|
LLPIN: |
AAA-5055 |
|
|
|
|
Legal Form : |
Limited Liability Partnership. |
|
|
|
|
Line of Business
: |
The Proposed LLP will be engaged in Development and Construction
Activities. |
|
|
|
|
No. of Employees
: |
Information Declined by Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Yet to commence its business operations |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a Limited Liability Partnership Concern. Eventhough, the concern was established during the year 2011. The
concern is yet to commence its business operations. Management remains non-cooperative. Payments terms are unknown. In view of strong groups, the concern can be considered for the
business dealings with some cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million estimated
losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
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 DENIED
Management Non-Cooperative (91-22-670-50505)
LOCATIONS
|
Registered Office : |
L and T House Ballard Estate, Mumbai – 400 001, Maharashtra, India |
|
Tel. No.: |
91-22-670-50505 |
|
Fax No.: |
91-22-670-51111 |
|
E-Mail : |
|
|
|
|
|
Regional Office : |
L & T Business park, Tower – B, TC-II, 5th Floor, L
& T Gate No.5, Powai Campus, Saki Vihar Road, Powai, Mumbai – 400 072,
Maharashtra, India |
PARTNERS
As on: 31.03.2013
|
Name : |
Mr. Shrikant Prabhakar Joshi |
|
Designation : |
Designated Partner |
|
Address : |
Flat No.1504, 15th Floor, Octavious Building, Hiranandani
Garden, Powai, Mumbai – 400 076, Maharashtra, India |
|
Date of Appointment : |
31.102012 |
|
DIN No.: |
02278471 |
|
|
|
|
Name : |
Mr. Nailesh Mehta |
|
Designation : |
Designated Partner |
|
Address : |
102, Kripa Nidhi, Plot No.27, 4th Gulmohur Cross Road,
IVPD, Vile Parle (West), Mumbai, Maharashtra, India |
|
Date of Appointment : |
03.06.2011 |
|
DIN No.: |
00284762 |
OBLIGATION DETAILS
As on: 31.03.2013
|
Names of Persons |
|
Obligation of
Contribution (Rs. In
Millions) |
|
L & T Realty Private Limited, India |
|
0.050 |
|
PCS Housing LLP, India |
|
0.050 |
|
|
|
|
|
Total |
|
0.100 |
BUSINESS DETAILS
|
Line of Business : |
The Proposed LLP will be engaged in Development and Construction
Activities. |
GENERAL INFORMATION
|
No. of Employees : |
Information Declined by Management. |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Firdosh D. Buchia Chartered Accountants |
|
Address : |
194, Ravindra Annexe, Dinshaw Vachha Road, Churchgate Reclamention, Mumbai – 400 020, Maharashtra, India |
|
Tel. No.: |
91-22-66338347 |
|
E-mail : |
CAPITAL STRUCTURE
As on: 31.03.2013
Total Obligation of Contribution: Rs.0.100 Million
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
1] Contribution received |
|
0.100 |
0.100 |
|
2] Share Application Money |
|
0.000 |
0.000 |
|
3] Reserves & Surplus |
|
(2.294) |
(0.824) |
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
NETWORTH |
|
(2.194) |
(0.724) |
|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
|
4912.400 |
3650.000 |
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
TOTAL BORROWING |
|
4912.400 |
3650.000 |
|
Creditors/ trade payables – advance from customers |
|
9.579 |
0.002 |
|
Other Liabilities |
|
111.444 |
5.292 |
|
Provisions |
|
|
|
|
For taxation |
|
0.000 |
0.000 |
|
For contingencies |
|
0.000 |
0.000 |
|
For Insurance |
|
0.000 |
0.000 |
|
Other Provisions |
|
3.127 |
0.219 |
|
TOTAL |
|
5034.356 |
3654.789 |
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.147 |
0.126 |
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
LOANS AND ADVANCES |
|
4079.213 |
3078.004 |
|
INVENTORIES |
|
948.726 |
554.110 |
|
Debtors/ trade receivable |
|
0.000 |
0.000 |
|
Cash and Cash equipment |
|
6.270 |
22.549 |
|
|
|
|
|
|
TOTAL |
|
5034.356 |
3654.789 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
0.000 |
0.000 |
|
|
|
Other Income |
|
0.000 |
0.000 |
|
|
|
TOTAL (A) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw material consumed |
|
0.000 |
0.000 |
|
|
|
Personnel Expenses |
|
0.000 |
0.000 |
|
|
|
Administration Expense |
|
0.715 |
0.639 |
|
|
|
Payment to Auditor |
|
0.020 |
0.020 |
|
|
|
Selling Expenses |
|
0.735 |
0.165 |
|
|
|
Other Expenses |
|
0.000 |
0.000 |
|
|
|
TOTAL (B) |
|
1.470 |
0.824 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(1.470) |
(0.824) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(1.470) |
(0.824) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
|
(1.470) |
(0.824) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
|
(1.470) |
(0.824) |
|
|
|
|
|
|
|
|
|
|
Profit transferred to partners account |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Profit transferred to Reserves and Surplus |
|
(1.470) |
(0.824) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
(14.70) |
NA |
|
LOCAL AGENCY FURTHER INFORMATION
NOTE: Current maturity
of long term debt is not available.
|
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 two years |
Yes |
|
12] |
Profitability for last two years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
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 |
No |
|
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 |
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 |
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. 62.33 |
|
|
1 |
Rs. 101.99 |
|
Euro |
1 |
Rs. 84.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
29 |
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.