|
Report Date : |
27.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHRI RAJ JI ENTERPRISES |
|
|
|
|
Registered
Office : |
22-A-B, Sohan Nagar, Near Dua Cold Store Bhadur Ke Road, Ludhiana - 141008, Punjab |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
01.04.2014 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
IEC No.: |
3014004448 |
|
|
|
|
TIN No.: |
03352169120 |
|
|
|
|
PAN No.: [Permanent Account No.] |
ACNFS8988C |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Manufacturing
of Hosiery Garments including Sweaters and Pullovers. |
|
|
|
|
No. of Employees
: |
3 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Concern |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new partnership concern and establishing itself
gradually. Trade relations are reported to be improving. Business is active.
Payment terms are unknown. The concern 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
N E W S
The economy grew 4.7 %in 2013/14, marking a second
straight year of sub-5 % growth – the worst slowdown in more than a quarter of
a century. The data was below an official estimate of 4.9 % annual growth and
compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A sharp fall in gold imports due to restrictions on
overseas purchases and muted import of capital goods helped shrink the current
account deficit.
Online retailer Flipkart
has acquired fashion portal Myntra as it prepares to
battle with the rapidly expanding India arm of the global e-commerce giant
Amazon. The company raised $ 210 million from Russian Investment firm DST
Global which has also invested in companies like Facebook,
Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune
in the second half of 2014. GM was one of the few global carmakers that was
using its India plant only for the domestic market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year
to $ 158.84 billion. The top 10 of the 100 slots were dominated by US
companies.
Infosys lost another heavy weight when B G Srinivas,
a board member put in his papers. He is the third CEO-hopeful to quit after
Chairman N R Narayana Murthy’s return to the company
– Ashok Vemuri and V Balakrishnan being the other two.While
Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted biggest
quarterly loss – Rs 2153.37 crore
– in the three months ended March 31, mainly because it has been offering
discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala
Police had arrested Pinckney and two company directors on charges of financial
irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies.
China’s action which targets consultancies like McKinsey & Co. and the
Boston Consulting Group, sterns from fears that the first are providing trade
secrets to the US governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter
refused an offer of 55 pounds a share.
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. Atul Sood |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-9815300885 |
|
Date : |
26.06.2014 |
LOCATIONS
|
Registered Office : |
22-A-B, Sohan Nagar, Near Dua Cold Store Bhadur Ke Road, Ludhiana - 141008, Punjab, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9815300885 |
|
Fax No.: |
Not Available |
|
E-Mail : |
PARTNERS
|
Name : |
Mr. Rajinder Pal Sood
|
|
Designation : |
Partner |
|
Address : |
H. No.D-330, Bhai Randhir Singh Nagar, Ludhiana -141002, Punjab, India |
|
Date of Birth/ Age : |
70 years |
|
Qualification : |
Post Graduate |
|
Experience : |
Retired Bank Officer |
|
|
|
|
Name : |
Mr. Nitin Rakesh Sood |
|
Designation : |
Partner |
|
Address : |
H. No.HIG-20, Sector -4, Parwanoo, Parwanoo,
District Solan -143001,
Himachal Pradesh, India |
|
Date of Birth/ Age : |
35 years |
|
Qualification : |
Management Graduate |
|
Experience : |
15 years (Experience in
Business Management) |
KEY EXECUTIVES
|
Name : |
Mr. Atul Sood |
|
Designation : |
Chartered Accountant |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
of Hosiery Garments including Sweaters and Pullovers. |
|
|
|
|
Imports : |
|
|
Products : |
Machinery |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Retailers and Others |
|
|
|
|
No. of Employees : |
3 (Approximately) |
|
|
|
|
Bankers : |
· State Bank of Patiala Ludhiana – 141008, Punjab, India · Bank of India Ludhiana – 141008, Punjab, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Divulged |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[All figures are
in Rupees Millions]
NEW CONCERN
Note: Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
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 |
No |
|
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 |
No |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
------------------------------------------------------------------------------------------------------------------------------
PROJECT COST AND MEANS OF FINANCE
(RS. IN MILLIONS)
|
Particulars |
Cost already Incurred
|
Cost to be
Incurred |
Total |
|
|
|
|
|
|
A. PROJECT COST |
|
|
|
|
Plant and Machinery |
-- |
2.580 |
2.580 |
|
Project Development / Building |
1.745 |
0.000 |
1.745 |
|
Margin for Working Capital |
-- |
0.125 |
0.125 |
|
|
|
|
|
|
Total |
1.745 |
2.705 |
4.450 |
|
|
|||
|
B. MEANS OF FINANCE |
|
|
|
|
Partners’ Capital |
1.825 |
0.125 |
1.950 |
|
Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
Term Loan |
0.000 |
2.500 |
2.500 |
|
|
|
|
|
|
Total |
1.825 |
2.625 |
4.450 |
|
|
|||
|
Promoters Contribution |
|
|
43.82% |
|
Debt Equity Ratio |
|
|
1.28 |
------------------------------------------------------------------------------------------------------------------------------
PROFITABILITY STATEMENTS
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2015 |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
|
|
(Estimated) |
(Projected) |
|||
|
|
|
|
|
|
|
|
SALES RECEIPTS |
|
|
|
|
|
|
Sales Receipts |
2.560 |
3.420 |
3.580 |
3.890 |
4.160 |
|
Job Works |
0.525 |
0.680 |
0.825 |
0.985 |
1.025 |
|
Total |
3.085 |
4.100 |
4.405 |
4.875 |
5.185 |
|
|
|
|
|
|
|
|
EXPENDITURES |
|
|
|
|
|
|
Purchases |
1.710 |
2.135 |
2.374 |
2.827 |
3.107 |
|
Direct
Labour and Wages |
0.120 |
0.281 |
0.362 |
0.381 |
0.405 |
|
Depreciation |
0.568 |
0.563 |
0.417 |
0.361 |
0.312 |
|
Manufacturing
Expenses/ Utilities |
0.150 |
0.215 |
0.275 |
0.299 |
0.320 |
|
Administrative
and General Expenses |
0.110 |
0.140 |
0.170 |
0.189 |
0.201 |
|
Salary
to Partners |
0.060 |
0.120 |
0.120 |
0.120 |
0.120 |
|
Interest
on Term Loan |
0.144 |
0.255 |
0.213 |
0.170 |
0.127 |
|
Interest
on Working Capital |
0.030 |
0.060 |
0.060 |
0.060 |
0.060 |
|
TOTAL
COST |
2.892 |
3.769 |
3.991 |
4.406 |
4.651 |
|
|
|
|
|
|
|
|
Profit
Before interest and Tax |
0.193 |
0.331 |
0.414 |
0.469 |
0.534 |
|
|
|
|
|
|
|
|
Provision
for Income Tax |
0.012 |
0.023 |
0.037 |
0.040 |
0.046 |
|
|
|
|
|
|
|
|
Net
Profit for Appropriation for Interest on Capital After Tax |
0.182 |
0.308 |
0.376 |
0.428 |
0.489 |
------------------------------------------------------------------------------------------------------------------------------
BALANCE SHEET
(RS. IN MILLIONS)
|
LIABILITIES |
31.03.2015 |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
|
|
(Estimated) |
(Projected) |
|||
|
|
|
|
|
|
|
|
Capital
Account |
2.143 |
2.445 |
2.829 |
3.218 |
3.672 |
|
Unsecured
Loan |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Working
Capital Loan |
0.500 |
0.500 |
0.500 |
0.500 |
0.500 |
|
Term
Loan |
1.964 |
1.607 |
1.249 |
0.892 |
0.536 |
|
Sundry
Creditors |
0.226 |
0.410 |
0.530 |
0.650 |
0.820 |
|
Current
Liabilities |
0.180 |
0.225 |
0.250 |
0.300 |
0.410 |
|
TIL
Instalment due in One Year |
0.357 |
0.357 |
0.357 |
0.357 |
0.357 |
|
|
|
|
|
|
|
|
TOTAL |
5.370 |
5.544 |
5.715 |
5.917 |
6.295 |
|
|
|||||
|
ASSETS |
|
|
|
|
|
|
Fixed
Assets |
3.755 |
3.193 |
2.775 |
2.414 |
2.103 |
|
Current
Assets |
|
|
|
|
|
|
Inventories |
0.785 |
0.985 |
1.060 |
1.190 |
1.295 |
|
Sundry
Debtors |
0.310 |
0.625 |
0.750 |
0.810 |
0.990 |
|
Advances
and Securities |
0.180 |
0.425 |
0.580 |
0.650 |
0.750 |
|
Cash
and Bank Balances |
0.340 |
0.316 |
0.550 |
0.853 |
1.157 |
|
|
|
|
|
|
|
|
TOTAL |
5.370 |
5.544 |
5.715 |
5.917 |
6.295 |
------------------------------------------------------------------------------------------------------------------------------
FUND SLOW STATEMENT
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2015 |
2015-16 |
2016-17 |
2017-18 |
2018-19 |
|
|
(Estimated) |
(Projected) |
|||
|
A. SOURCES |
|
|
|
|
|
|
Opening
Cash and Bank Balances |
0.000 |
0.340 |
0.316 |
0.550 |
0.553 |
|
Profit
Before Tax |
0.037 |
0.074 |
0.120 |
0.130 |
0.148 |
|
Increase
in Unsecured Loan |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase
in Capital |
2.166 |
0.377 |
0.413 |
0.459 |
0.506 |
|
Depreciation |
0.568 |
0.563 |
0.417 |
0.361 |
0.312 |
|
Increase
in Term Loan |
2.500 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase
in C/C Limit |
0.500 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase
in Sundry Creditors |
0.226 |
0.184 |
0.120 |
0.120 |
0.170 |
|
Increase
in Current Liabilities |
0.180 |
0.045 |
0.25 |
0.050 |
0.110 |
|
Total |
6.177 |
1.583 |
1.412 |
1.670 |
2.099 |
|
|
|
|
|
|
|
|
B)
UTILISATION |
|
|
|
|
|
|
Increase
in Fixed Assets |
4.323 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase
in Stocks |
0.785 |
0.200 |
0.075 |
0.130 |
0.105 |
|
Increase
in Debtors |
0.310 |
0.315 |
0.125 |
0.060 |
0.180 |
|
Increase
in Advances and Securities |
0.180 |
0.245 |
0.155 |
0.070 |
0.100 |
|
Repayment
of Loans |
0.179 |
0.357 |
0.357 |
0.357 |
0.357 |
|
Payment
of Taxes |
0.012 |
0.023 |
0.037 |
0.040 |
0.046 |
|
Withdrawal
by Partners |
0.048 |
0.127 |
0.113 |
0.160 |
0.154 |
|
Total |
5.837 |
1.267 |
0.862 |
0.817 |
0.942 |
|
|
|
|
|
|
|
|
Closing Cash and Bank
Balances |
0.340 |
0.316 |
0.550 |
0.853 |
1.157 |
------------------------------------------------------------------------------------------------------------------------------
PROJECT REPORT
INTRODUCTION
Subject is a newly promoted
partnership firm, promoted on 01.04.2014 with the main objective to carry on
the business of manufacturing of Hosiery garments including sweaters and
pullovers. The firm has been promoted by partners Mr. Nitin
Sood and Mr. Rajinder Pal Sood. The partners are related. The promoters are in well
experienced in business line as both have sufficient experience. Mr. Nitin Sood has experience of more
than 15 years in business in Parwanoo and Mr. Rajinder Pal Sood is retired bank
officer based at Ludhiana having close relations with
hosiery trade in Ludhiana. Mr. Rajinder
Pal Sood is linked with hosiery trade as close family
members are already in this trade. The firm has support of experienced persons
from hosiery industry in planning and execution of production plan and layout.
The promoters propose to import state of the art fully computerized flatbed
knitting machines to manufacture quality woollen garments. Ludhiana
is hub of hosiery industry and all facilities for smooth production are very
easily available.
The firm has approached the
esteemed bank of sanction of Term loan of Rs.2.500 Millions for purchase and
installation of two new 3 system flatbed knitting machines, accessory machines
and power generator set and Rs.0.500 Million for working capital as C/C
(Hypothecation)
PROMOTERS
Subject is a partnership
firm promoted by Mr. Nitin Sood
and Mr. Rajinder Pal Sood.
The promoters are closely related. Mr. Nitin Sood a management graduate is from Parwanoo
and has experience in family business of Flour Mill for more than 15 years. Sh. Rajinder Pal Sood a post graduate is a retired bank officer having good
personal and family relations in hosiery industry. The promoters have tied up
with experienced staff for production and sale of firm's products. The details
of partners with their present net worth has been annexed in the project
report.
NATURE
OF PROJECT AND PLANT AND MACHINERY
The firm proposes to
install state of the art TWO new imported 3 system fully computerized flatbed
knitting machines at factory premises at Bahadur Ke Road together with accessory machines like stitching
machine, linking machine, overlock machine, steam
press and power generator set. The said machinery has average capacity to
produce 100 pcs per day per day. The machinery can
produce any designer or simple garment with or without shaping in complete form
or only front or back panels. The proposed new machinery is to be imported from
China. The firm has already applied for Vat registration with vat authorities
and power connection of 20 K.W has already been sanctioned and installed at
factory premises. The registration under MSME Act has also been availed.
PRODUCTS
The firm is focusing on
production of woollen garments i.e. sweaters and pullovers. These products have
huge market potential.
LOCATION
The factory is set up in
industrial area declared by Government under Master Plan at Bahadur
Ke Road. The land is owned by the Partners. The
location of the site is extremely suitable as it is very well connected to all
facilities required for running of the factory and approach to the site is very
easy.
FACTORY PREMISES
The building has been
already constructed by the promoters keeping in view all requirements of
machinery installation and production flow of the machines. Other production
facilities like office block and utilities have already been constructed.
PROCUREMENT/ PURCHASES
All the raw materials and consumables
like yarn, needles, spares and accessories are easily available. The firm will
also have exclusively contacted for above supplies with some manufacturers and
dealers.
ELECTRIC POWER
Power connection of 20 K.W
has already been sanctioned and installed at factory premises and firm is also
planning to install genset of 20 KVA for power back
up requirements
MAN POWER
Skilled and unskilled
workers required are easily available as Ludhiana is
main hosiery industrial area and such requirements can be easily met.
PROJECT COST AND WORKING CAPITAL REQUIREMENT
PROJECT
COST
The
project cost for setting up the proposed plant is estimated at Rs.4.450
Millions. The broad break-up of the above cost under various head is given
below:-
|
Particulars
|
Cost
already Incurred
|
Cost
to be Incurred
|
Total
|
|
|
|
|
|
|
Plant
and Machinery (Machinery,
AC) |
-- |
2.580 |
2.580 |
|
Building
and civil works |
1.745 |
-- |
1.745 |
|
Margin
for working capital |
-- |
0.125 |
0.125 |
|
|
|
|
|
|
Total |
1.745 |
2.705 |
4.450 |
PLANT
AND MACHINERY: (Rs.2.580 Millions)
The cost of the machinery
is mostly based on the quotations/orders/invoices. The plant and machinery includes
two new imported 3 system fully computerized flatbed knitting machines and
accessory machines like stitching machine, linking machine, overlock
machine, steam pressand power generator set.
FACTORY
BUILD IN AND OTHER CIVIL WORKS (Rs.1.745 Millions)
The factory building is
constructed in area of 200 sq. yds with complete
ground floor and room for staff at first floor. The Total Cost of the building
construction and civil works of the project works out at Rs.1.745 Millions. The
main civil works of the project consist of construction of Factory Building,
RCC platform /slab for machinery, office block, Electric Installation work,
utilities and DG set shed foundation and civil work, together with lighting and
electrical installations. The details of proposed estimate is given with the
project report. In view of the space and specifications of the civil jobs, the
estimated cost of building and other civil works is considered reasonable.
MEANS
OF FINANCE AND PROMOTERS' CONTRIBUTION
The
cost of project estimated at Rs.4.450 Millions is proposed to be financed as
under
|
CAPITAL |
(RS. IN MILLIONS) |
|
Promoters
Capital |
1.950 |
|
Term
Loan |
2.500 |
|
|
|
|
Total |
4.450 |
The promoters' contribution
of Rs.1.825 Millions is already brought by the promoters for construction of
factory building to be treated as Partner's Capital. The remaining amount of
Rs.0.125 Million will be introduced in due time and Rs.2.500 Millions would be
raised from banks/ financial institutions as term loan.
Promoters' Contribution
Based on the above means of
finance, contribution by the promoters works out to about 43.82% of the total
project cost.
Debt Equity Ratio
The debt equity ratio works
out to 1.28: 1 on the above proposed means of finance.
------------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT
MR. NITIN SOOD
(RS. IN MILLIONS)
|
ASSETS |
AMOUNT |
|
A. Immovable Property Factory Land 22-A, Sohan Nagar, Bahadur Ke Road, Ludhiana (100 sq. yds.) |
1.300 |
|
|
|
|
B. Movable Property Capital as Partner in Shri
Raj Ji Enterprises for
construction of building and Others |
0.300 |
|
Gold and Cash in hand |
0.550 |
|
Investments |
0.300 |
|
|
|
|
TOTAL
ASSETS (A+B) |
2.450 |
|
|
|
|
TOTAL
LIABILITIES |
NIL |
|
|
|
|
NET WORTH |
Rs.2.450
Millions |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH STATEMENT
MR. RAJINDER PAL SOOD
(RS. IN MILLIONS)
|
ASSETS |
AMOUNT |
|
A. Immovable Property Residential
House at D-330, B R S Nagar, Ludhiana. (Area
137 Sq. Yds.) (1/3rd Share) |
4.000 (App. Value) |
|
Residential
House at B-IV-1172, Mohalla Soodan,
Ludhiana. (Area
100 Sq. Yds.) (1/4th Share) |
1.500 (App. Value) |
|
Factory
Land 22-B,
Sohan Nagar, Bahadur Ke Road, Ludhiana (100
Sq. Yds.) |
1.300 (App. Value) |
|
|
|
|
B. Movable Property Capital as Partner in Shri
Raj Ji Enterprises for
construction of Building and Others |
1.525 |
|
Gold and Cash in hand |
0.350 |
|
Investments |
0.500 |
|
|
|
|
TOTAL
ASSETS (A+B) |
Rs.9.175
Millions |
|
|
|
|
LIABILITIES |
|
|
Housing /
Property Loan |
0.550 |
|
|
|
|
TOTAL
LIABILITIES |
Rs.0.550 Million
|
|
|
|
|
NET WORTH |
Rs.8.625
Millions |
------------------------------------------------------------------------------------------------------------------------------
FOR THE A/C OF M/S SHRI RAJ JI ENTERPRISES
VALUATION REPORT OF IMMOVABLE PROPERTY
Assessment of fair market value
of the immoveable property comprising of industrial building situated at Plot No.22-A and 22-B, Sohan
Nagar, Bahadur Ke Road, Ludhiana owned by Mr. Nitin Sood S/o Mr. Rakesh Kumar Sood and Mr. Rajinder Pal Sood S/o Mr. Hem Chand Sood was Inspected on June
6, 2014 required for the purpose of submitting in Bank of India, Clock Tower, Ludhiana as on current date.
After
giving careful consideration to the various important factors like the specifications,
present condition age and future life replacement cost, depreciation, potential
for marketability etc.
|
Fair Market value of the property |
Rs.4.418
Millions |
|
Realizable value of the Property |
Rs.3.535
Millions |
|
Forced/ distress sale value of the property |
Rs.2.872
Millions |
|
Govt. Registration value of the Property - Construction - Value of Plot (200 sq. yds@ Rs.5900/- per
sq. yd.) |
Rs.1.818
Millions Rs.1.180
Millions |
|
|
|
|
Total |
Rs.2.998
Millions |
GENERAL
INFORMATION
|
Purpose for which valuation is made |
Fair Market Value |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Date as on valuation is made |
June 21, 2014 |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name / Names of the Owner/ Owners |
Mr. Nitin Sood S/o Rakesh Kumar Sood and Mr. Rajinder Pal Sood S/o Mr. Hem Chand Sood |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
If
the property is under joint ownership /co-ownership share of each such owner.
Are the share undivided? |
Joint Ownership (1/2 share Each) |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Brief
description of the property. |
Industrial
Building |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Location,
street ward no. |
Plot
No.22-A and 22-B, Sohan Nagar,
Near Dua Cold Store, Bahadur
Ke Road, Ludhiana |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Survey
/Plot No. of Land |
Plot
No.22-A and 22-B |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Is
the property situated in Residential/ commercial/ Mixed Area / Industrial
Area. |
Mixed
locality |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Classification
of locality-high class/ middle class/poor class. |
Middle
Class |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Proximity
of civic amenities, like school, hospital, office, market cinema etc. |
Available |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Means
and proximity to surface communication by which the locality is served. |
By
Road |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
LAND |
|||||||||||||||||||||||||||||||||||||
|
Area
of land supported by documentary proof, shape dimensions and physical
feature. |
200
Sq. yds |
||||||||||||||||||||||||||||||||||||
|
Name
(s) Roads, street or lanes on which the land is abutting. |
Bahadur
Ke Road |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Is
it free hold or lease-hold land? |
Free
hold |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
If
lease-hold the name of leasor1 leases, nature of lease, dates of commencement
and termination of lease and term of renewal of lease. |
Not
Applicable (Free hold) |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
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. |
No |
||||||||||||||||||||||||||||||||||||
|
NOTE: The property in question
has physically been inspected and verified and the corresponding ownership documents
have also been mentioned in my report. But this is strongly advised that the
ownership documents must be got verified/get authentication of physical
relation of the property with the title deed deeds in question by the
"revenue authority" on the date of mortgage, as the physical
identity of this property has come up only on the basis of revenue record
numbers mentioned in the title
deed/deeds, going to be mortgaged with the bank. BASIS OF VALUATION
|
|||||||||||||||||||||||||||||||||||||
------------------------------------------------------------------------------------------------------------------------------
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.60.28 |
|
|
1 |
Rs.102.28 |
|
Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.