MIRA INFORM REPORT

 

 

Report Date :

16.06.2014

 

IDENTIFICATION DETAILS

 

Name :

BHAAGYALAXMI STEEL PRIVATE LIMITED

 

 

Registered Office :

Flat No.308, Plot No.114, Ganatra Industrial Estate, Khopat, Thane (West), Thane – 400601, Maharashtra

 

 

Country :

India 

 

 

Date of Incorporation :

24.12.2013

 

 

Com. Reg. No.:

251367

 

 

Capital Investment / Paid-up Capital :

Rs.0.100 Million

 

 

CIN No.:

[Company Identification No.]

U27100MH2013PTC251367

 

 

PAN No.:

[Permanent Account No.]

AAFCE8826R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trading of Iron and Steels. 

 

 

No. of Employees :

5 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

                                       New Business

 

--

 

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is a new company and yet to established itself gradually.

 

Ms. Sonica from accounts department provided all information and also confirmed that the company will commenced its commercial operation by 20th June 2014.

 

Payment terms are unknown.

 

The company can be considered for business dealings on a fully safe and secured 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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

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

 

US investment bank Goldman Sachs has upgraded its outlook on Indian markets as it expects positive impact of the election cycle.

 

India’s economy may grow 4.7 % in the current financial year, lower than the official estimate of 4.9 %, Fitch Rating said. The global rating agency expects the economy to pick up in the next two financial years.

 

Global ratings agency Standard & Poor said increasing focus by India Inc on lowering debt is likely to improve their credit profiles.

 

Singapore (1.1 million Indian tourists in 2012), Thailand (one million), the United Arab Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays hotspots for Indians. The total figure is expected to increase to 1.93 million by 2017, according to the latest Eurmonitor international report.

 

There is a $29.34 bn outward foreign direct investment by domestic companies between April and January of 2013/14 which has seen some signs of recovery according to a Care Ratings report.

 

There are 264 number of new companies being set up every day on average during 2014. Most of them are registered in Mumbai. India had 1.38 million registered companies at the end of January, 2014.

 

Twitter like messaging service Weibo Corporation has filed to raise $ 500 million via a US initial public offering. Alibaba, which owns a stake in Weibo is expected to raise about $ 15 billion New York this year in the highest profile Internet IPO since Facebook’s in 2012.

 

Bharti Airtel has raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at a coupon rate of three per cent and maturing in 2020. This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon rate in February.

 

Indian Oil Corporation plans to invest Rs.7650 crore in setting up a petrochemical complex at its almost complete Paradip refinery in Odhisha in three to four years. The company board is set to consider the setting up of a 700000 tonne per annum polypropylene plant at an estimated cost at Rs.3150 crore.

 

Global chief information officers at gathering in Bangalore in April to meet Indian startups at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.

 

 

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 :

Ms. Sonika

Designation :

Accountant

Date :

12.06.2014

 

 

LOCATIONS

 

Registered Office :

Flat No.308, Plot No.114, Ganatra Industrial Estate, Khopat, Thane (West), Thane – 400601, Maharashtra, India

Tel. No.:

Not Available

Mobile No.:

91-9833377411 (Mr. Gumansingh Bhoorsingh Rajpurohit)

91-9765285171 (Mr. Pukhraj Jasraj Sharma)

Fax No.:

Not Available

E-Mail :

tmt.vishnu@gmail.com

nikhil_taurus202@yahoo.com

g.b.rajpurohit@gmail.com

Location :

Owned

 

 

Godown :

1343, Tulsi Nagar, Rasulabad Khadipar, Bhiwandi – 421302, Maharashtra, India

Location :

Owned

 

 

DIRECTORS

 

Name :

Mr. Gumansingh Bhoorsingh Rajpurohit

Designation :

Director

Address :

Room No.202, Matro Ashish Building, 2nd Floor, A Wing, Ajay Nagar, Bhiwandi, Thane – 421302, Maharashtra, India

Date of Birth/Age :

09.09.1962

Qualification :

B. Com

Experience :

30 years

PAN No.:

ABHPR0742G

Mobile No.:

91-9833377411

 

 

Name :

Mr. Pukhraj Jasraj Sharma

Designation :

Director

Address :

402, Shree Saipark Navneet CHS Limited, Ajad Nagar No.2, Near Keser Mill,  Thane (West), Thane – 400601, Maharashtra, India

Date of Birth/Age :

01.07.1956

Qualification :

Graduate

Experience :

35 years

PAN No.:

CVDPS2922P

Mobile No.:

91-9765285171

 

 

KEY EXECUTIVES

 

Name :

Ms. Sonika

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

(AS ON 10.12.2013)

 

Name of Shareholders

 

No of Shares 

Percentage

 

 

 

Gumansingh Bhoorsingh Rajpurohit

9000

90.00

Pukhraj Jasraj Sharma

1000

10.00

 

 

 

Total

 

10000

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trading of Iron and Steels. 

 

 

Terms :

 

Selling :

Credit (60 days)

 

 

GENERAL INFORMATION

 

Suppliers :

NAME

 

ADDRESS

Dealing Person

Contact No.

MAA Sakabhari Real Estate

A/02, Arjun CHS Limited, Navneet Bharat CHS Limited, L.B.S. Marg, Azad Nagar No. 2, Near Vikas Comples, Thane (West) 400601, Maharashtra, India

Mr. Pawan Agarwal

9892588779

Arti Alloys Private Limited

H. No. 764, Sai Auto Service, Village Mann, Near Handi Garden Hotel, Boiser, India

Mr. Amit Wadhwa

9930011211

Anam Industries

Plot.No.89, Silver Industrial Estate, Village Bhimpor, Daman

Mr. Pappu Bhai

9824143046

Shree Mahavir Alloys

Survey No. 187/1, Athiyawad, Dabhel, Nani Daman

Mr. Vipul Shah

9925130430

San and San Metals Private Limited

B/408, Siddhivinayak Tower, Near Makwana Comples, Virar (East), Thane, West Bengal, India

Mr. Sanjay Jain

9833818333

 

 

Customers :

Wholesalers

 

NAME

 

ADDRESS

Shubh M. L. Shah Sons and Steel Private Limited

Plot No. 97, Sector - 23, CIDCO Service Industrial Area, Turbhe, New Mumbai, Maharashtra, India

 

 

Neelam Enterprises

201, Shivom Apartment, Gokhle Nagar, Opposite IIT Main Gate, Powai, Maharashtra, India

 

 

Devansh Industries

B-3, Prerna Apartment, Near Bavarchi Hotel,

Sane Guruji Nagar, L.T. Cross Road, Mulund (East)

 

 

Kahan Trading Corporation

209, Arihant Building,

Ahmedabad Strret, Curnak Bunder, Mumbai

 

 

Sanghavi Enterprise

Office no. 7, Gandhi Seth Associate,

Sant Tukaram Road, Opposite Baroda Street, Curnak Bundar, India

 

 

No. of Employees :

5 (Approximately)

 

 

Bankers :

·         Central Bank of India (Current account)

Thane Branch, Maharashtra, India

 

 

Facilities :

--

 

 

 

Banking Relations :

--

 

 

Auditors :

Not Divulged

 

 

CAPITAL STRUCTURE

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Shares

Rs.10/- each

Rs.20.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

Rs.10/- each

Rs.0.100 Million

 

 

 

 

 

 

 

 

 

FINANCIAL DATA

[All figures are in Rupees Millions]

 

NEW COMPANY

 

 

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 last three years

No

12]

Profitability for last three years

No

13]

Reasons for variation <> 20%

-----

14]

Estimation for coming financial year

Yes

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

No 

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

No

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

Yes

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

No

 

------------------------------------------------------------------------------------------------------------------------------

 

ASSESSMENT OF WORKING CAPITAL REQUIREMENT

 

OPERATING STATEMENT

 

 (RS. IN MILLIONS)

 

Sr No

 

Particulars

2015

2016

2017

2018

 

 

 

Estimated

Projected

 

1

GROSS SALES

 

i)

Sales

 

a) Domestic Sales

125.000

137.500

151.250

166.375

 

b) Export Sales

-

-

-

-

 

c) Sub-total [a+b]

125.000

137.500

151.250

166.375

 

 

 

 

 

 

 

 

d) %age rise (+) or fall (-) in net sales as compared to previous year

--

10.00%

10.00%

10.00%

 

Total

125.000

137.500

151.250

166.375

 

 

ii)

Other income

 

a)Duty drawback

-

-

-

-

 

b)Other

-

-

-

-

 

c)Commission/Brokerage/interest

-

-

-

-

 

d) Sub-total [a+b+c]

-

-

-

-

 

 

Total [i] + [ii]

125.000

137.500

151.250

166.375

 

2

COST OF SALES

 

i)

Purchases

 

 

 

 

 

Domestic

136.250

1,20.656

1,32.646

1,45.745

 

Imported

-

-

-

-

 

ii)

Other expenses

[Process charges, carriage inward, comm, and brokerage on purchases, etc.]

5.000

5.500

6.050

6.655

 

iii)

Sub-total [i + ii]

141.250

126.156

138.696

152.400

 

 

 

 

 

 

 

 

iv)

Add: Opening stock

-

25.200

25.500

26.000

 

v)

Sub-total [iii + iv]

141.250

151.356

164.196

178.400

 

 

 

 

 

 

 

 

vi)

Less: Closing Stock

252.00

255.00

260.00

265.00

 

vii)

Sub-total [Total cost of sales] [v - vi]

116.050

125.856

138.196

151.900

 

3

Selling, General and Administrative Expenses (including bonus payments)

4.250

5.500

6.050

6.655

 

4

Operating Profit before interest and Depreciation [1(iii)-2(vii)-3]

4.700

6.144

7.004

7.821

 

5

INTEREST EXPENSES - WC loan

2.231

3.150

3.150

3.150

 

 

                     - Bank Charges

6

 

DEPRECIATION

0.075

0.064

0.054

0.046

 

 

 

7

Operating profit after interest and depreciation [4-5-6]

2.394

2.930

3.800

4.624

 

8

(i) Add other non-operating income

 

(a) Discount received

-

-

-

-

 

(b) Other Income

-

-

-

-

 

Sub Total (income)

-

-

-

-

 

 

(ii) Deduct other non-operating expense

-

-

-

-

 

(a) Directors Remuneration

-

-

-

-

 

(b) other expense

-

-

-

-

 

Sub Total (Expenses)

-

-

-

-

 

 

(iii) Net of other non-operating Incomes/Expenses (net of 8(i) & 8(ii))

-

-

-

-

 

9

Profit before tax/loss (7+8(iii))

2.394

2.930

3.800

4.624

 

10

Provision for tax

0.790

0.967

1.254

1.526

 

11

Net profit / (loss)[9-10]

1.604

1.963

2.546

3.098

 

12

(i) Equity dividend paid/ Drawings

-

-

-

-

 

(ii) Dividend Rate

 

13

Retained Profit [11-12]

1.604

1.963

2.546

3.098

 

14

Retained Profit/ Net Profit (%age)

100%

100%

100%

100%

 

 

------------------------------------------------------------------------------------------------------------------------------

 

ANALYSIS OF BALANCE SHEET

 

(RS. IN MILLIONS)

 

Sr No

Particulars

2015

2016

2017

2018

 

 

Estimated

Projected

 

 

CURRENT LIABILITIES

1

Short term borrowings from bank (incl. Bills purchased, discounted & excess borrowings placed on repayment basis)

 

(i) From applicant bank

25.000

25.000

25.000

25.000

 

(ii) From other banks

-

-

-

-

 

(iii) of which EP & BD

-

-

-

-

 

Sub Total (A)

25.000

25.000

25.000

25.000

 

2

Short term borrowings from others

-

-

-

-

 

3

Sundry Creditors - Trade

-

-

-

-

 

4

Advance payments from customers/deposits from dealers

-

-

-

-

 

5

Provision for Taxation

0.790

0.967

1.254

1.526

 

6

Dividend Payable

-

-

-

-

 

7

Other statutory liabilities (due within one year) 

-

-

-

-

 

8

Deposits/ Instalments of term loan/ DPGs/ Debentures, etc.(due within one year)

-

-

-

-

 

9

Other current liabilities & Provisions (due within one year)

1.500

2.200

2.500

3.000

 

 

Sub Total (B)

2.290

3.167

3.754

4.526

 

10

Total Current Liabilities [total of 1 to 9]

27.290

28.167

28.754

29.526

 

 

 

TERM LIABILITIES

11

Debentures (Not maturing within one year)

-

-

-

-

 

12

Preference Shares (Redeemable after one year)

-

-

-

-

 

13

Term loans (Excluding instalments payable within one year)

-

-

-

-

 

14

Differed Payment Credits (Excl. instalments due within one year)

-

-

-

-

 

15

Term deposits (Repayable after one year)

-

-

-

-

 

16

Other term liabilities

 

(a) Unsecured loans

2.500

2.500

2.500

2.500

 

17

Total term liabilities (Total of 11 to 16)

2.500

2.500

2.500

2.500

 

18

Total Outside Liabilities [10+17]

29.790

30.667

31.254

32.026

 

 

NET WORTH

 

19

Share Capital

5.500

5.500

5.500

5.500

 

20

Capital addition

-

-

-

-

 

21

Drawing

-

-

-

-

 

22

Withdrawal

-

-

-

-

 

23

Surplus (+) or deficit (-) in Profit & Loss Account

1.604

1.963

2.546

3.098

 

24

Net worth

7.104

7.463

8.046

8.598

 

25

TOTAL LIABILITIES [18+24]

36.894

38.130

39.300

40.624

 

 

 

CURRENT ASSETS

 

26

Cash & Bank balances

0.400

0.410

0.420

0.500

 

27

Deposits

-

-

-

-

 

28

Receivables

10.274

11.264

11.976

12.763

 

30

Inventories

 

(i) Raw materials (including stores and other items in process of manufacture)

 

(a) Imported

-

-

-

-

 

(b) Indigenous

-

-

-

-

 

 

 

 

 

 

 

(ii) Stock-in-process

-

-

-

-

 

 

 

 

 

 

 

(iii) Other consumable stores

 

(a) Imported

-

-

-

-

 

(b) Indigenous

-

-

-

-

 

 

 

 

 

 

 

(iv) Finished Goods

25.200

25.500

26.000

26.500

 

31

Advance to suppliers of Raw materials and stores/spares

-

-

-

-

 

32

Advance payment of taxes

-

-

-

-

 

33

Other current assets

0.570

0.570

0.572

0.575

 

34

Total Current asset [Total 26 to 33]

36.444

37.744

38.968

40.338

 

 

FIXED ASSETS

 

35

Gross Block (land and building machinery vehicles work-in-progress)

0.500

0.500

0.500

0.500

 

36

Depreciation to date

0.050

0.114

0.168

0.214

 

37

NET BLOCK (35-36)

0.450

0.386

0.332

0.286

 

38

Investments/book debts /advances deposits which are not current assets

-

-

-

-

 

 

i.(a)Investments in subsidiary companies/ affiliates 

-

-

-

-

 

(b)Others

-

-

-

-

 

 

ii. Advances to suppliers of capital goods and contractors

-

-

-

-

 

 

iii. Deferred receivables (maturity exceeding one year)

-

-

-

-

 

 

 

iv. Others

-

-

-

-

 

 

39

Non Consumables Stores and Spare

-

-

-

-

 

40

Other Non-Current Assets

(Incl. Dues from Director)

-

-

-

-

 

41

Total other non-current assets (Total of 38 to 40)

-

-

-

-

 

42

Intangible assets (patents, goodwill, prelim, expenses, bad/ doubtful debts not provided for etc.)

-

-

-

-

 

43

TOTAL ASSETS (Total of 34,37,41 & 42)

36.894

38.130

39.300

40.624

 

 

 

 

 

44

Tangible net worth   (24-42)

7.104

7.463

8.046

8.598

 

45

Net working Capital [(17+24)-(37+41+42)] Totally with (34-10)

9.154

9.577

10.214

10.812

 

46

Current Ratio [34/10]

1.34

1.34

1.36

1.37

 

47

Total outside liabilities / Net worth  (18/44)

4.19

4.11

3.88

3.72

 

Quasi

2.84

2.83

2.73

2.66

 

 

 

 

 

 

 

ADDITIONAL INFORMATION

 

A. Arrears of depreciation

-

-

-

-

 

B. Contingent Liabilities:

-

-

-

-

 

(a) Arrears of cumulative dividends

-

-

-

-

 

(b) Gratuity liability not provided for

-

-

-

-

 

(c) Disputed excise/ customs/tax liabilities

-

-

-

-

 

(d) Other liabilities not provided for

-

-

-

-

 

------------------------------------------------------------------------------------------------------------------------------

 

COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

 

(RS. IN MILLIONS)

 

Sr No

Particulars

2015

2016

2017

2018

 

Estimated

Projected

 

A. CURRENT ASSETS:

1

Cash & Bank Balances

0.400

0.410

0.420

0.500

 

Fix Deposits

-

-

-

-

 

 

 

 

 

 

2

Investments (other than long term investments)

 

(i) Government and other Trustee securities

-

-

-

-

 

(ii) Fixed deposits with banks

-

-

-

-

 

3

(i) Receivables other than deferred & exports (incl. Bills purchased and discounted by banks)

10.274

11.264

11.976

12.763

 

(ii) Export receivable (Including Bills purchased and discounted by banks)

-

-

-

-

 

4

Instalments of deferred receivable (Due within one year)

-

-

-

-

 

5

Inventories

 

(i) Raw materials (Including stores and other items in process of manufacture)

 

(a) Imported

-

-

-

-

 

(b) Indigenous

-

-

-

-

 

 

 

 

 

 

 

(ii) Stock-in-process

-

-

-

-

 

 

 

 

 

 

 

(iii) Other consumable stores

-

-

-

-

 

(a) Imported

-

-

-

-

 

(b) Indigenous

-

-

-

-

 

(iv) Finished Goods

25.200

25.500

26.000

26.500

 

6

Advance to suppliers of Raw materials and stores/ spares

-

-

-

-

 

7

Advance payment of taxes

-

-

-

-

 

8

Other current assets

0.570

0.570

0.572

0.575

 

9

Total Current Assets [1 to 8]

36.444

37.744

38.968

40.338

 

(To agree with item 34 in Form III)

 

 

 

B. CURRENT LAIBILITES

(Other than bank borrowings for working capital)

 

10

Short term borrowings from others

-

-

-

-

 

11

Sundry Creditors - Trade

-

-

-

-

 

LC Creditors

-

-

-

-

12

Advance payments from customers/ deposits from dealers

-

-

-

-

 

13

Provision for Tax

0.790

0.967

1.254

1.526

 

14

Dividend Payable

-

-

-

-

 

15

Other statutory liabilities (due within one year)

-

-

-

-

 

16

Deposits/Instalments of term loan/ DPGs/ Debentures etc.(due within one year)

-

-

-

-

 

17

Other current liabilities & Provisions (due within one year)

1.500

2.200

2.500

3.000

 

18

Total Current Liabilities [10 to 17]

2.290

3.167

3.754

4.526

 

(To agree with sub-total B-Form III)

 

------------------------------------------------------------------------------------------------------------------------------

 

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

 

(RS. IN MILLIONS)

 

Sr. No

Particulars

2015

2016

2017

2018

 

 

Estimated

Projected

 

 

 

 

 

 

 

1

Total Current Assets (Form IV)

36.444

37.744

38.968

40.338

 

2

Other Current Liabilities (other than bank borrowings) (14 of Form IV)

2.290

3.167

3.754

4.526

 

3

Working Capital Gap (WCP) (1-2)

34.154

34.577

35.214

35.812

 

4

Minimum stipulated net working Capital - 25% of total current assets other than Export Receivables (as at 28(ii) of form III)

9.111

9.436

9.742

10.085

 

5

Actual/projected net working capital (45 in form III)

9.154

9.577

10.214

10.812

 

6

Item 3 minus item 4

25.043

25.141

25.472

25.727

 

7

Item 3 minus item 5

25.000

25.000

25.000

25.000

 

8

Maximum permissible bank finance (item 6 or 7 whichever is less)

25.000

25.000

25.000

25.000

 

9

Excess borrowings, if any representing short fall in NWC (4-5)

-

-

-

-

 

------------------------------------------------------------------------------------------------------------------------------

 

FUNDS FLOW STATEMENT

 

(RS. IN MILLIONS)

 

Sr.

No

PARTICULARS

2015

2016

2017

2018

 

 

Estimated

Projected

1

Sources

 

[a] Net profit (after tax)

1.604

1.963

2.546

3.098

 

[b] Depreciation

0.075

0.064

0.054

0.046

 

     Partners' Salary & interest

-

-

-

-

 

[c] Increase in Capital

-

-

-

-

 

[d] Increased in Term Liabilities

(incl. Public deposits)

-

-

-

-

 

[e] Decrease in

 

    [i] Fixed Assets

-

-

-

-

 

   [ii] Other non-current Assets

-

-

-

-

 

[f] Others (Unsecured Loans)

-

-

-

-

 

[g] Total

1.679

2.027

2.600

3.144

 

 

2

Application

 

[a] Net Loss

-

-

-

-

 

[b] Decrease in Term Liabilities

(Incl. Public deposits)

-

-

-

-

 

 

 

[c] Increase in

 

    [i] Fixed Assets

-

0.050

0.114

0.168

 

   [ii] Other non-current Assets

-

-

-

-

 

[d] Drawing

-

-

-

-

 

[e] Others (Unsecured loans)

-

-

-

-

 

[f] Total

-

0.050

0.114

0.168

 

 

3

Long Term Surplus  (+) /  Deficit  (-)  

(1 minus 2)

1.679

1.977

2.486

2.976

 

 

4

 + / (-) in current assets      

 * ( As per details given below)

-

1.300

1.224

1.370

 

 

5

 + / (-) in current Liabilities other than bank borrowings

-

0.877

0.587

0.772

 

 

6

 + / (-) in working capital Gap

-

0.423

0.637

0.598

 

 

7

Net Surplus (+) /  deficit  (-)             

(Difference of 3 & 6)

1.679

1.554

1.849

2.378

 

 

8

 + / (-) in Bank Borrowings

-

-

-

-

 

 

 

* Break up  of (4)

 

 

 

[i]  + / (-) in Raw material

-

-

-

-

 

[ii]  + / (-) in Stock in process

-

-

-

-

 

[iii]  + / (-) in finished goods

25.200

0.300

0.500

0.500

 

[iv]  + / (-) in Receivables

 

    [a] Domestic

10.274

0.990

0.712

0.787

 

    [b] Export

-

-

-

-

 

[iii]  + / (-) in stores & spares

 

[iii]  + / (-) in other Current Assets

0.970

0.010

0.012

0.083

 

Total

36.444

1.300

1.224

1.370

 

------------------------------------------------------------------------------------------------------------------------------

 

MR. GUMANSINGH BHOORSINGH RAJPUROHIT

 

BALANCE SHEET

 

(RS. IN MILLIONS)

 

SOURCES OF FUNDS

 

 

 

31.03.2013

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

 

12.737

2] Share Application Money

 

 

0.000

3] Reserves & Surplus

 

 

0.000

4] (Accumulated Losses)

 

 

0.000

NETWORTH

 

 

12.737

LOAN FUNDS

 

 

 

1] Secured Loans

 

 

0.000

2] Unsecured Loans

 

 

145.629

TOTAL BORROWING

 

 

145.629

DEFERRED TAX LIABILITIES

 

 

0.000

 

 

 

 

TOTAL

 

 

158.366

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

 

15.380

Capital work-in-progress

 

 

0.000

 

 

 

 

INVESTMENT

 

 

141.756

DEFERREX TAX ASSETS

 

 

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

 

0.000

 

Sundry Debtors
 

 

0.684

 

Cash & Bank Balances
 

 

0.400

 

Other Current Assets
 

 

0.000

 

Loans & Advances
 

 

2.521

Total Current Assets
 

 

3.605

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditor
 

 

2.370

 

Other Current Liabilities
 

 

0.000

 

Provisions
 

 

0.005

Total Current Liabilities
 

 

2.375

Net Current Assets
 

 

1.230

 

 

 

 

MISCELLANEOUS EXPENSES

 

 

0.000

 

 

 

 

TOTAL

 

 

158.366

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

 

31.03.2013

 

SALES

 

 

 

 

 

Income

 

 

0.000

 

 

Other Income

 

 

0.861

 

 

TOTAL                                     (A)

 

 

0.861

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Conveyance Expenses

 

 

0.007

 

 

General Expenses

 

 

0.001

 

 

Professional Expenses

 

 

0.005

 

 

Staff Welfare Expenses

 

 

0.001

 

 

Telephone Expenses

 

 

0.008

 

 

TOTAL                                     (B)

 

 

0.022

 

 

 

 

 

Less

PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

 

 

0.839

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

 

 

0.543

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

 

 

0.296

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

 

 

0.022

 

 

 

 

 

 

NET PROFILE

 

 

 

0.274

 

------------------------------------------------------------------------------------------------------------------------------

 

MR. PUKHRAJ JASRAJ SHARMA

 

BALANCE SHEET

 

(RS. IN MILLIONS)

 

SOURCES OF FUNDS

 

 

 

31.03.2013

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

 

1.284

2] Share Application Money

 

 

0.000

3] Reserves & Surplus

 

 

0.000

4] (Accumulated Losses)

 

 

0.000

NETWORTH

 

 

1.284

LOAN FUNDS

 

 

 

1] Secured Loans

 

 

0.000

2] Unsecured Loans

 

 

0.000

TOTAL BORROWING

 

 

0.000

DEFERRED TAX LIABILITIES

 

 

0.000

 

 

 

 

TOTAL

 

 

1.284

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

 

0.000

Capital work-in-progress

 

 

0.000

 

 

 

 

INVESTMENT

 

 

1.104

DEFERREX TAX ASSETS

 

 

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

 

0.000

 

Sundry Debtors
 

 

0.000

 

Cash & Bank Balances
 

 

0.030

 

Other Current Assets
 

 

0.000

 

Loans & Advances
 

 

0.150

Total Current Assets
 

 

0.180

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditor
 

 

0.000

 

Other Current Liabilities
 

 

0.000

 

Provisions
 

 

0.000

Total Current Liabilities
 

 

0.000

Net Current Assets
 

 

0.180

 

 

 

 

MISCELLANEOUS EXPENSES

 

 

0.000

 

 

 

 

TOTAL

 

 

1.284

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

 

31.03.2013

 

SALES

 

 

 

 

 

Brokerage and Commission

 

 

0.150

 

 

Other Income

 

 

0.118

 

 

TOTAL                                    

 

 

0.268

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Conveyance Expenses

 

 

0.003

 

 

Telephone Charges

 

 

0.003

 

 

Tea Expenses

 

 

0.003

 

 

General Expenses

 

 

0.001

 

 

TOTAL                                    

 

 

0.010

 

 

 

 

 

 

NET PROFILE

 

 

 

0.258

 

 

------------------------------------------------------------------------------------------------------------------------------

 

VALUATION REPORT FOR IMMOVABLE PROPERTY

 

(GENERAL DETAILS)

 

Date of visit of the site for valuation of IP

26 October, 2013

 

 

Date as on which valuation is made

28 October, 2013

 

 

Name of the Owner

Mr. Gumansingh B. Rajpurohit

 

 

Whether necessary enquiries have been made documents. From the concerned locality with regard to the ownership of the property 

Yes, Ownership is also verified from the  documents

 

This report is prepared solely for valuation of the property. Legal opinion is to be obtained separately. 

 

 

It the property is under Joint Ownership/ Co Ownership Share of each such owners are the shares undivided?

Single Ownership

 

 

Brief description of the property

Location, Street, Ward No. (Postal Address)

Office premises Unit No.308 on the Third Floor in the building known as “Ganatra Industrial Estate” situated at Panchapakhadi, Pokharan Road, Thane, within the limits of Thane Municipal corporation within the jurisdiction of sub-Registrar of Bombay district  

 

 

Survey/Plot No. of Land

On Plot Bearing No.114 A1 and 2, situated at Village Panchapakhadi, Pokharan Road, Thane, within the limits of Thane Municipal corporation within the jurisdiction of sub-Registrar of Bombay district  

 

 

Is the IP bears the same description/ Details as mentioned in the documents/ Title Deeds

Yes

 

 

Is the property situated in the Residential/ Commercial/ Mixed Area/ Industrial Area

Industrial Area

 

 

Is the property situated in an unauthorised / Authorised colony

Authorised Colony.

 

 

Classification of Locality – High class/ Middle Class/ Poor class?

Higher Middle Class

 

 

Proximity to civic amenities like School, Hospitals, cinema etc.

All amenities in the close vicinity.

 

 

Roads, Streets or Lanes on which the land is abutting

Pokharan Road

 

 

Is the Construction/Built up property is as per the plan approved by the complete authority

Bank may obtain from the owner

 

 

What is the floor space index permissible and percentage actually utilized?

Permissible FSI will be as per D.C. Rules of Local Competent Authority.

 

 

Is it freehold or leasehold land

Freehold

 

 

Is the concerned Unit/ Building owner occupied or tenanted or both 

Occupied by Owner 

 

 

 

Market Value of the Unit No.308 on the 3rd Floor

 

Sr.

No.

Description

Area in

Rate per

Sq. ft.

Market

Value

 

 

 

 

 

1.

Unit No.308

500 sq. ft. Built up area

Rs.25,000/-

Rs.12.500 Millions

 

Fair market value as on date: The market value obtained in this report is defined as follows: Market value is the estimated amount for which an assets should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s length transaction after proper marketing wherein the parties had each acted knowledgeably and without compulsion. Thus, the characteristic of the Market Value’s are -

 

It is a free will sale

It is an estimated amount and not a predetermined or an actual sale price.

It is time – specific as on the given date.

It depends on purpose of valuation

Buyer and Seller are actuated by business principles. They are unrelated and are acting independently.

Asset would be exposed to the market in the most appropriate manner to effect its disposal at the best price possible.

Rs.12.500 Millions – Market Value of the Property.

 

In case the bank were to sell the property what would be the approximate realizable value.

 

Realizable sale value of the property = Rs.10.000 Million 80% of market value as (Forced sale value) (Bank auctions are cornered).

 

 

TECHNICAL DETAILS

 

No of floors and height of each floor

Ground + Three

 

 

Plinth area –floor wise

As per approved plan

 

 

Year of Construction

1992-93

 

 

Estimated future life

40 years of economical life if maintained property

 

 

Type of construction –load bearing walls/ RCC frame steel frame

RCC Frame Structure

 

 

Type of foundations

RCC

 

 

Walls

Brick

 

 

Partitions

Brick

 

 

Door, Windows etc. (Floor-Wise)

Door: Wooden/ Glass Door and Aluminium Sliding windows.

 

 

Flooring (Floor-wise)

Vitrified Flooring

 

 

Finishing (Floor Wise)

Good and Well-furnished Office Premises.

 

 

Roofing and Terracing

RCC

 

 

Special Architectural or Decorative.

NA

 

 

Internal Wiring – Surface or Conduit

Concealed

 

 

Sanitary Installations

Provided

 

 

Under Ground Sump

As per Requirement

 

 

Overhead Tanks

As per Requirement

 

 

Pump No and Their Horse Power

As per Requirement

 

 

Sewage Disposal/ Whether connected to public sewer. If septic tanks provide (No and Capacity)

Connected to Municipal Sewer Line.

 

 

Compound Wall

Mansonry Wall and Gate Common for Building

 

 

No of Lift and Capacity

Two Lifts

 

 

Roads and Paving within the compound

Cement Concrete

 

------------------------------------------------------------------------------------------------------------------------------

 

 

VALUATION REPORT FOR IMMOVABLE PROPERTY

 

(GENERAL DETAILS)

 

Date of visit of the site for valuation of IP

26 October, 2013

 

 

Date as on which valuation is made

28 October, 2013

 

 

Name of the Owner

Mr. Gumansingh B. Rajpurohit

 

 

Whether necessary enquiries have been made documents. From the concerned locality with regard to the ownership of the property 

Yes, Ownership is also verified from the  documents

 

This report is prepared solely for valuation of the property. Legal opinion is to be obtained separately.

 

 

It the property is under Joint Ownership/ Co Ownership Share of each such owners are the shares undivided?

Single Ownership

 

 

Brief description of the property

Location, Street, Ward No. (Postal Address)

Office premises Unit No.309 on the Third Floor in the building known as “Ganatra Industrial Estate” situated at Panchapakhadi, Pokharan Road, Thane, within the limits of Thane Municipal corporation within the jurisdiction of Sub-Registrar of Bombay district.

 

 

Survey/Plot No. of Land

On Plot Bearing No.114 A1 and 2, situated at Village Panchapakhadi, Pokharan Road, Thane, within the limits of Thane Municipal corporation within the jurisdiction of sub-Registrar of Bombay district.

 

 

Is the IP bears the same description/ Details as mentioned in the documents/ Title Deeds

Yes

 

 

Is the property situated in the Residential/ Commercial/ Mixed Area/ Industrial Area

Industrial Area

 

 

Is the property situated in an unauthorised/ Authorised colony

Authorised Colony.

 

 

Classification of Locality – High class/ Middle Class/ Poor class?

Higher Middle Class

 

 

Proximity to civic amenities like School, Hospitals, cinema etc.

All amenities in the close vicinity.

 

 

Roads, Streets or Lanes on which the land is abutting

Pokharan Road

 

 

Is the Construction/Built up property is as per the plan approved by the complete authority

Bank may obtain from the owner

 

 

What is the floor space index permissible and percentage actually utilized?

Permissible FSI will be as per D.C. Rules of Local Competent Authority.

 

 

Is it freehold or leasehold land

Freehold

 

 

Is the concerned Unit/ Building owner occupied or tenanted or both 

Occupied by Owner 

 

 

 

Market Value of the Unit No.309 on the 3rd Floor

 

Sr.

No.

Description

Area in

Rate per

Sq. ft.

Market

Value

 

 

 

 

 

1.

Unit No.309

500 sq. ft. Built up area

Rs.25,000/-

Rs.12.500 Millions

 

Fair market value as on date: The market value obtained in this report is defined as follows: Market value is the estimated amount for which an assets should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s length transaction after proper marketing wherein the parties had each acted knowledgeably and without compulsion. Thus, the characteristic of the Market Value’s are -

 

It is a free will sale

It is an estimated amount and not a predetermined or an actual sale price.

It is time – specific as on the given date.

It depends on purpose of valuation

Buyer and Seller are actuated by business principles. They are unrelated and are acting independently.

Asset would be exposed to the market in the most appropriate manner to effect its disposal at the best price possible.

Rs.12.500 Millions – Market Value of the Property.

 

In case the bank were to sell the property what would be the approximate realizable value.

 

Realizable sale value of the property = Rs.10.000 Million 80% of market value as (Forced sale value) (Bank auctions are cornered).

 

 

TECHNICAL DETAILS

 

No of floors and height of each floor

Ground + Three

 

 

Plinth area –floor wise

As per approved plan

 

 

Year of Construction

1992-93

 

 

Estimated future life

40 years of economical life if maintained property

 

 

Type of construction –load bearing walls/ RCC frame steel frame

RCC Frame Structure

 

 

Type of foundations

RCC

 

 

Walls

Brick

 

 

Partitions

Brick

 

 

Door, Windows etc. (Floor-Wise)

Door: Wooden/ Glass Door and Aluminium Sliding windows.

 

 

Flooring (Floor-wise)

Vitrified Flooring

 

 

Finishing (Floor Wise)

Good and Well-furnished Office Premises 

 

 

Roofing and Terracing

RCC

 

 

Special Architectural or Decorative.

NA

 

 

Internal Wiring – Surface or Conduit

Concealed

 

 

Sanitary Installations

Provided

 

 

Under Ground Sump

As per Requirement

 

 

Overhead Tanks

As per Requirement

 

 

Pump No and Their Horse Power

As per Requirement

 

 

Sewage Disposal/ Whether connected to public sewer. If septic tanks provide (No and Capacity)

Connected to Municipal Sewer Line.

 

 

Compound Wall

Mansonry Wall and Gate Common for Building

 

 

No of Lift and Capacity

Two Lifts

 

 

Roads and Paving within the compound

Cement Concrete

 

------------------------------------------------------------------------------------------------------------------------------

 

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.59.48

UK Pound

1

Rs.100.93

Euro

1

Rs.80.71

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIT

 

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.