MIRA
INFORM REPORT
|
Report Date : |
22.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
PRINCE ENTERPRISES |
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Registered
Office : |
G-1-B, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Year of
Establishment : |
2009 |
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Capital
Investment : |
Rs. 20.267 Millions |
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IEC No.: |
0308044606 |
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PAN No.: [Permanent Account No.] |
AGUPG0989N |
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Legal Form : |
Sole Proprietary Concern |
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Line of Business
: |
Trader and Importer of Cold Rolled Coils, Hot Rolled Coils, Wire Rods,
etc. |
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No. of Employees
: |
3 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established proprietary concern having satisfactory
track record. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The concern can be considered for business dealings at usual 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would take
a few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that it had willfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to sack another 300 employees. The
lay-offs follow a spate of senior-level exits over the past two years, starting
with of its founder. The overall lay-offs could number around 600 and are
driven by the need to cut costs, says a former employee.
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Trilok Kumar Gothi |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9820772357 |
|
Date : |
20.09.2014 |
LOCATIONS
|
Registered Office : |
G-1-B, Gokul Building, Baroda Street, Carnac Bunder, Masjid Bunder
(East), Mumbai – 400009, Maharashtra, India |
|
Tel. No.: |
91-22-30297053/ 27411599 |
|
Mobile No.: |
91-9820772357 [Mr. Trilok Kumar Gothi] |
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Fax No.: |
91-22-30297053 |
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E-Mail : |
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Location : |
Owned |
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|
|
|
Factory : |
Plot No. A-90, MIDC Taloja, District Raigad – 410208, Maharashtra,
India |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. Trilok Kumar Hiralal Gothi |
|
Designation : |
Proprietor |
|
Address : |
1701, Sheffield Tower, 240 Cross Lane, Lokhandwala Complex, Andheri
[West], Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
10.03.1985 |
|
Qualification : |
MBA in Marketing |
|
Experience : |
6 Years |
|
PAN No.: |
AGUPG0989N |
KEY EXECUTIVES
|
Name : |
Ms. Bhavika |
|
Designation : |
Accounts Executive |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Cold Rolled Coils, Hot Rolled Coils, Wire Rods,
etc. |
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Imports : |
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Products : |
M.S. Flat Carbon, Steel Coils etc. |
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Countries : |
· Japan China |
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Terms : |
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Selling : |
Credit [60 Days] |
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Purchasing : |
L/C |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers
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No. of Employees : |
3 (Approximately) |
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Bankers : |
· ICICI Bank Limited ICICI Centre, 163, H. T. Parekh Marg Backbay, Reclamation, Churchgate, Mumbai – 400020, Maharashtra, India |
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Facilities : |
Credit Limit = Rs. 53.000 Millions [From ICICI Bank Limited] |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
C.B. Mehta and Associates Chartered Accountants |
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Address : |
16, Vasant Niwas, opposite Shiv Sagar, Nehru Road, Vile Parle [East],
Mumbai – 400057, Maharashtra, India |
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Tel. No.: |
91-22-26183609 |
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Fax No.: |
91-22-26126792 |
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E-Mail : |
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Associates/Subsidiaries : |
· M.M. Steel Private Limited Address: G-1-B, Gokul
Building, Baroda Street, Masjid [East], Mumbai – 400009, Maharashtra, India Activity: Trading and Processing
of Steel Coils. |
CAPITAL STRUCTURE
AS ON 31.03.2014
|
Capital Investment : |
|
|
Owned : |
Rs. 20.267 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 20.267 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor’s Capital |
20.267 |
10.824 |
3.268 |
|
|
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 |
20.267 |
10.824 |
3.268 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
0.237 |
0.416 |
0.000 |
|
|
2] Unsecured Loans |
5.400 |
5.129 |
5.925 |
|
|
TOTAL BORROWING |
5.637 |
5.545 |
5.925 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
|
TOTAL |
25.904 |
16.369 |
9.193 |
|
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APPLICATION OF
FUNDS |
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|
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FIXED ASSETS [Net Block] |
0.546 |
0.640 |
0.020 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
33.960
|
19.126 |
14.444 |
|
|
Sundry Debtors |
53.091
|
26.082 |
36.333 |
|
|
Cash & Bank Balances |
1.049
|
2.521 |
2.288 |
|
|
Other Current Assets |
9.605
|
2.385 |
11.183 |
|
|
Loans & Advances |
1.018
|
3.044 |
2.288 |
|
Total
Current Assets |
98.723
|
53.158 |
66.536 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
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Other Current Liabilities |
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|
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|
Provisions |
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Total
Current Liabilities |
73.365
|
37.429 |
57.363 |
|
|
Net Current Assets |
25.358
|
15.729 |
9.173 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25.904 |
16.369 |
9.193 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
266.838 |
222.661 |
213.354 |
|
|
|
Other Income |
0.061 |
1.256 |
0.403 |
|
|
|
TOTAL |
266.899 |
223.917 |
213.757 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods sold |
262.471 |
218.002 |
208.291 |
|
|
|
Direct Expenses |
0.896 |
1.231 |
1.042 |
|
|
|
Office and Other Administrative Expenses |
1.404 |
1.969 |
1.928 |
|
|
|
TOTAL |
264.771 |
221.202 |
211.261 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2.128 |
2.715 |
2.496 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.278 |
1.184 |
0.976 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.850 |
1.531 |
1.520 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.119 |
0.130 |
0.008 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT FOR
THE YEAR |
1.731 |
1.401 |
1.512 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
0.65
|
0.63 |
0.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.65
|
0.63 |
0.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.74
|
2.60 |
2.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.13 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.28
|
0.51 |
1.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
1.42 |
1.16 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Proprietor’s Capital |
3.268 |
10.824 |
20.267 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3.268 |
10.824 |
20.267 |
|
|
|
|
|
|
Secured Loans |
0.000 |
0.416 |
0.237 |
|
Unsecured Loans |
5.925 |
5.129 |
5.400 |
|
Total
borrowings |
5.925 |
5.545 |
5.637 |
|
Debt/Equity ratio |
1.813 |
0.512 |
0.278 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
213.354 |
222.661 |
266.838 |
|
|
|
4.362 |
19.840 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
213.354 |
222.661 |
266.838 |
|
Profit |
1.512 |
1.401 |
1.731 |
|
|
0.71% |
0.63% |
0.65% |
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 |
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 |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
|
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] |
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 |
------------------------------------------------------------------------------------------------------------------------------
NETWORTH
STATEMENT
MR.
TRILOK HIRALAL GOTHI
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
31.03.2014 |
|
|
ASSETS |
|
|
1 |
Investment in partnership firm and other
loans and advances |
25.332 |
|
|
|
|
|
2 |
Cash and Bank Balance |
0.492 |
|
|
|
|
|
3 |
Other Current Assets |
0.135 |
|
|
|
|
|
|
Total [A] |
25.959 |
|
|
|
|
|
|
LIABILITIES |
|
|
1 |
Unsecured Loans |
15.850 |
|
|
|
|
|
|
Total [B] |
15.850 |
|
|
|
|
|
|
NETWORTH [A-B] |
10.109 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT FOR THE COMMERCIAL SHOP NO. 01
NAME
OF VALUER: MR. M.C. JAIN
|
Date of Visit of Site |
09.08.2014 |
|
|
|
|
Date of making valuation |
12.08.2014 |
|
|
|
|
Name of the owner[s] of the property Date of Purchase of IP Purchase Price of IP |
M/s. Realspace Property Private Limited 12.04.2010 Rs. 21.230 Millions |
|
|
|
|
Whether necessary enquiries have been made
from the concerned locality with regard to the ownership of the property? |
NA [Not Applicable] |
|
|
|
|
If the property is under joint
ownership/co-ownership, share of each such owner. Are these shares undivided?
|
NA [Not Applicable] |
|
|
|
|
Brief Description of the property |
|
|
Location, Street, Ward No. |
Shop No.1, situated on Ground Floor, Building
is known as “Nembula Express”, 5th Road, bearing CTS No. F/1533,
F.P. 573, Old Khar, Khar [West] of Village Bandra, Mumbai - 400052 |
|
|
|
|
Plot No. |
CTS No. F/1533, F.P. 573, Old Khar, Khar
[West] of Village Bandra, Mumbai - 400052 |
|
|
|
|
Is the IP bears the same description/
details as mentioned in the documents/title deeds |
Yes |
|
|
|
|
Is the property situated in
residential/commercial/mixed area/ industrial area? |
Commercial Area |
|
|
|
|
Is the property situated in an Unauthorized/
authorized colony |
NA |
|
|
|
|
Classification of locality-high class/
Middle class/ poor class |
Middle Class |
|
|
|
|
Is IP in question under encroachment |
No |
|
|
|
|
The valuer should give in detail his
approach to valuation of the property and indicate how the value has been
arrived at, supported by necessary calculation [Rent capitalization method,
municipal valuation for tax purposed, composite rate method for flat etc.] |
The valuation of property is based on
prevailing market rates for similar properties in this area as on date of
visit. |
|
|
|
|
Land rate adopted in the valuation |
NA |
|
|
|
|
Instances of sales of IPs in the locality indicating
the name and address of the IPs, registration no., sale prices and area of
land sold |
NA |
|
|
|
|
If sales instances are not available or not
relied upon, the basis of arriving at the land rate |
NA |
|
|
|
|
Guildline value/ value of IP as per Circle
rates, if any, applicable in the area where IP is situated [Attach copy of
relative chart] Value of premises as per 2014 Government
Reckoner |
As per Stamp Duty Reckoner 2014 Government
Value is Rs. 118.069 Millions. |
|
|
|
|
Market value of the property |
Rs. 113.100 Millions |
|
|
|
|
Distress sale value of property |
90% of Market Value Rs. 101.800 Millions |
|
|
|
|
Replacement cost/ value of the construction
of premises for insurance purpose |
Rs. 118.069 Millions |
|
|
|
|
Built-up Area of Premises under reference as
per agreement |
146.00 Sq. Mtr., Ht. 14ft. Ground Floor
Carpet Area: 1100.00 Sq. ft. |
|
|
|
|
Saleable Area [On 80% loading and due to 14
Ft. height] |
262.80 Sq. mtr. 2828 Sq. ft. |
|
|
|
|
They have adopted 90% of Present market
value as Distress sale value of property for the purpose of valuation as on
date. The built up area as per agreement dated 12.04.2010
is 146.00 Sq. mtr. The premises are located in Khar [West] of Village Bandra,
Mumbai – 400052. Total Area for valuation purpose = 2828 Sq.
ft. The prevailing rates going for commercial
Shop ranges between Rs. 40000 to Rs. 41000 Per Sq. ft. They have adopted a
rate of Rs. 40000 for the purpose of valuation since premises is Commercial
Shop No. 1. |
|
|
|
|
|
Hence Market value of Shop No. 1 is |
2828 x 40000 Per Sq. ft. Rs. 113.100 Millions |
|
|
|
|
Interior Decoration Work |
Rs. 0.000 |
|
|
|
|
Total Value of Shop |
Rs. 113.100 Millions |
|
|
|
|
The Plot on which building stands is bounded
as follows: |
|
|
|
|
|
On or towards North by |
CTS No. 1532 |
|
On or towards South by |
CTS No. 1536 |
|
On or towards West by |
CTS No. 1534 |
|
On or towards East by |
5th Road |
|
|
|
|
As per GPS system, location of building is: |
|
|
|
|
|
Quality of construction |
Good |
|
Landmark |
Mohini Heights |
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT FOR PLOT NO. 16
NAME
OF VALUER: MR. M.C. JAIN
|
Date of Visit of Site |
09.08.2014 |
|
|
|
|
Date of making valuation |
12.08.2014 |
|
|
|
|
Name of the owner[s] of the property Date of Purchase of IP Purchase Price of IP |
Mr. Ramesh Patel 01.10.20031 Rs. 260.000 Millions |
|
|
|
|
Whether necessary enquiries have been made from
the concerned locality with regard to the ownership of the property? |
NA [Not Applicable] |
|
|
|
|
If the property is under joint
ownership/co-ownership, share of each such owner. Are these shares undivided?
|
NA [Not Applicable] |
|
|
|
|
Brief Description of the property |
|
|
Location, Street, Ward No. |
Bungalow No. 16 Plot bearing no. 16-16 RSC-12, situated at
C.T.S. No. 1374-B-367, of Village Versova, Taluka Andheri-West,
District-Suburban, Mumbai |
|
|
|
|
Plot No. |
Plot bearing no. 16-16 RSC-12, situated at
C.T.S. No. 1374-B-367, of Village Versova, Taluka Andheri-West,
District-Suburban, Mumbai |
|
|
|
|
Is the IP bears the same description/
details as mentioned in the documents/title deeds |
Yes |
|
|
|
|
Is the property situated in
residential/commercial/mixed area/ industrial area? |
Residential Area |
|
|
|
|
Is the property situated in an Unauthorized/
authorized colony |
Authorized colony |
|
|
|
|
Classification of locality-high class/ Middle
class/ poor class |
Middle Class |
|
|
|
|
Is IP in question under encroachment |
No |
|
|
|
|
The valuer should give in detail his
approach to valuation of the property and indicate how the value has been arrived
at, supported by necessary calculation [Rent capitalization method, municipal
valuation for tax purposed, composite rate method for flat etc.] |
The valuation of property is based on prevailing
market rates for similar properties in this area as on date of visit. |
|
|
|
|
Land rate adopted in the valuation |
NA |
|
|
|
|
Instances of sales of IPs in the locality indicating
the name and address of the IPs, registration no., sale prices and area of
land sold |
NA |
|
|
|
|
If sales instances are not available or not
relied upon, the basis of arriving at the land rate |
NA |
|
|
|
|
Guildline value/ value of IP as per Circle
rates, if any, applicable in the area where IP is situated [Attach copy of
relative chart] Value of premises as per 2014 Government
Reckoner |
As per Stamp Duty Reckoner 2014 Government
Value is Rs. 48.331 Millions. |
|
|
|
|
Market value of the property |
Rs. 29.400 Millions |
|
|
|
|
Distress sale value of property |
85% of Market Value Rs. 25.000 Millions |
|
|
|
|
Replacement cost/ value of the construction
of premises for insurance purpose |
Rs. 48.331 Millions |
|
|
|
|
Built-up Area of Premises under reference as
per agreement |
84.00 Sq. Mtr. Including Ground Floor, First Floor and
Terrace Carpet Area is = 250.00 Sq. Mtr. = 2690 Sq. ft. |
|
|
|
|
Saleable Area |
2690.00 Sq. ft. |
|
|
|
|
They have adopted 85% of Present market
value as Distress sale value of property for the purpose of valuation as on
date. The built up area as per agreement dated
01.10.2003 is 2690.00 Sq. ft. The premises are located in Village Versova, Taluka
Andheri West, District Suburban and Mumbai. Total Area for valuation purpose = 2690 Sq.
ft. The prevailing rates going on ground floor
for Plot No. 16 ranges between Rs. 11000 to Rs. 12000 per Sq. ft. They have
adopted a rate of Rs. 11000 for the purpose of valuation since premises is on
Ground Floor. |
|
|
|
|
|
Hence Market value of Bungalow No. 16 is |
2690 x 11000 per Sq. ft. 29.500 Millions |
|
|
|
|
Interior Decoration Work |
Rs. 0.000 |
|
|
|
|
Total Value of Shop |
Rs. 29.500 Millions |
|
|
|
|
The Plot on which building stands is bounded
as follows: |
|
|
|
|
|
On or towards North by |
ADJ Cluster No. 28 |
|
On or towards South by |
ADJ BBC 12 |
|
On or towards West by |
ADJ Cluster No. 22 |
|
On or towards East by |
ADJ Cluster No. 13 |
|
|
|
|
As per GPS system, location of building is: |
|
|
|
|
|
Quality of construction |
Good |
|
Landmark |
Near Ambani Hospital, Andheri [West] |
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT FOR FLAT NO. 401
NAME
OF VALUER: MR. M.C. JAIN
|
Date of Visit of Site |
09.08.2014 |
|
|
|
|
Date of making valuation |
12.08.2014 |
|
|
|
|
Name of the owner[s] of the property Date of Purchase of IP Purchase Price of IP |
Mr. Jayesh Hiralal Gothi 24.01.2011 Rs. 3.500 Millions |
|
|
|
|
Whether necessary enquiries have been made from
the concerned locality with regard to the ownership of the property? |
NA [Not Applicable] |
|
|
|
|
If the property is under joint
ownership/co-ownership, share of each such owner. Are these shares undivided?
|
NA [Not Applicable] |
|
|
|
|
Brief Description of the property |
|
|
Location, Street, Ward No. |
Flat No. 401, Regency, A-Wing situated on
Fourth Floor of the Building, Society bearing Plot No. 342 and CTS No. 1/152
of Village Oshiwara, 3rd Cross Road, Lokhandwala Complex,
Andheri-West and Mumbai – 400053 |
|
|
|
|
Plot No. |
Plot No. 342 and CTS No. 1/152 of Village
Oshiwara, 3rd Cross Road, Lokhandwala Complex, Andheri-West and
Mumbai – 400053 |
|
|
|
|
Is the IP bears the same description/ details
as mentioned in the documents/title deeds |
Yes |
|
|
|
|
Is the property situated in
residential/commercial/mixed area/ industrial area? |
Residential Area |
|
|
|
|
Is the property situated in an Unauthorized/
authorized colony |
Authorized colony |
|
|
|
|
Classification of locality-high class/
Middle class/ poor class |
Higher Middle Class |
|
|
|
|
Is IP in question under encroachment |
No |
|
|
|
|
The valuer should give in detail his approach
to valuation of the property and indicate how the value has been arrived at,
supported by necessary calculation [Rent capitalization method, municipal
valuation for tax purposed, composite rate method for flat etc.] |
The valuation of property is based on
prevailing market rates for similar properties in this area as on date of
visit. |
|
|
|
|
Land rate adopted in the valuation |
NA |
|
|
|
|
Instances of sales of IPs in the locality indicating
the name and address of the IPs, registration no., sale prices and area of
land sold |
NA |
|
|
|
|
If sales instances are not available or not
relied upon, the basis of arriving at the land rate |
NA |
|
|
|
|
Guildline value/ value of IP as per Circle
rates, if any, applicable in the area where IP is situated [Attach copy of
relative chart] Value of premises as per 2014 Government
Reckoner |
As per Stamp Duty Reckoner 2014 Government
Value is Rs. 14.337 Millions. |
|
|
|
|
Market value of the property |
Rs. 15.700 Millions |
|
|
|
|
Distress sale value of property |
80% of Market Value Rs. 12.600 Millions |
|
|
|
|
Replacement cost/ value of the construction
of premises for insurance purpose |
Rs. 14.337 Millions |
|
|
|
|
Built-up Area of Premises under reference as
per agreement |
505.00 Sq. ft. |
|
|
|
|
Saleable Area |
606.00 Sq. ft. |
|
|
|
|
They have adopted 80% of Present market value
as Distress sale value of property for the purpose of valuation as on date.
The owner has also done up the interiors and is enjoying an exclusive Lift
access to directly 4th Floor to his premises. The built up area as per agreement dated
24.01.2011 is 606.00 Sq. ft. The premises are located in Village Oshiwara,
Taluka Andheri, Mumbai - 400053. Total Area for valuation purpose = 505 +
[0.2 x 505]
= 606.00 Sq. ft. The prevailing rates going on 4th floor for
Flat ranges between Rs. 25000 to Rs. 26000 per Sq. ft. They have adopted a
rate of Rs. 25000 for the purpose of valuation since premises is on 4th
Floor. |
|
|
|
|
|
Hence Market value of Flat No.401 is |
606 x 25000 per Sq. ft. 15.150 Millions |
|
|
|
|
Interior Decoration Work |
Rs. 0.500 Million |
|
|
|
|
Total Value of Shop |
Rs. 15.700 Millions |
|
|
|
|
The Plot on which building stands is bounded
as follows: |
|
|
|
|
|
On or towards North by |
NA |
|
On or towards South by |
NA |
|
On or towards West by |
NA |
|
On or towards East by |
NA |
|
|
|
|
As per GPS system, location of building is: |
|
|
|
|
|
Quality of construction |
Good |
|
Landmark |
Lokhandwala Complex |
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT FOR FLAT NO. 402
NAME
OF VALUER: MR. M.C. JAIN
|
Date of Visit of Site |
09.08.2014 |
|
|
|
|
Date of making valuation |
12.08.2014 |
|
|
|
|
Name of the owner[s] of the property Date of Purchase of IP Purchase Price of IP |
Mr. Jayesh Hiralal Gothi 06.09.2011 Rs. 6.400 Millions |
|
|
|
|
Whether necessary enquiries have been made from
the concerned locality with regard to the ownership of the property? |
NA [Not Applicable] |
|
|
|
|
If the property is under joint
ownership/co-ownership, share of each such owner. Are these shares undivided?
|
NA [Not Applicable] |
|
|
|
|
Brief Description of the property |
|
|
Location, Street, Ward No. |
Flat No. 402, Regency, A-Wing situated on
Fourth Floor of the Building, Society bearing Plot No. 342 and CTS No. 1/152
of Village Oshiwara, 3rd Cross Road, Lokhandwala Complex,
Andheri-West and Mumbai – 400053 |
|
|
|
|
Plot No. |
Plot No. 342 and CTS No. 1/152 of Village
Oshiwara, 3rd Cross Road, Lokhandwala Complex, Andheri-West and
Mumbai – 400053 |
|
|
|
|
Is the IP bears the same description/ details
as mentioned in the documents/title deeds |
Yes |
|
|
|
|
Is the property situated in
residential/commercial/mixed area/ industrial area? |
Residential Area |
|
|
|
|
Is the property situated in an Unauthorized/
authorized colony |
Authorized colony |
|
|
|
|
Classification of locality-high class/
Middle class/ poor class |
Higher Middle Class |
|
|
|
|
Is IP in question under encroachment |
No |
|
|
|
|
The valuer should give in detail his approach
to valuation of the property and indicate how the value has been arrived at,
supported by necessary calculation [Rent capitalization method, municipal
valuation for tax purposed, composite rate method for flat etc.] |
The valuation of property is based on
prevailing market rates for similar properties in this area as on date of
visit. |
|
|
|
|
Land rate adopted in the valuation |
NA |
|
|
|
|
Instances of sales of IPs in the locality indicating
the name and address of the IPs, registration no., sale prices and area of
land sold |
NA |
|
|
|
|
If sales instances are not available or not
relied upon, the basis of arriving at the land rate |
NA |
|
|
|
|
Guildline value/ value of IP as per Circle
rates, if any, applicable in the area where IP is situated [Attach copy of
relative chart] Value of premises as per 2014 Government
Reckoner |
As per Stamp Duty Reckoner 2014 Government
Value is Rs. 14.337 Millions. |
|
|
|
|
Market value of the property |
Rs. 15.700 Millions |
|
|
|
|
Distress sale value of property |
80% of Market Value Rs. 12.600 Millions |
|
|
|
|
Replacement cost/ value of the construction
of premises for insurance purpose |
Rs. 14.337 Millions |
|
|
|
|
Built-up Area of Premises under reference as
per agreement |
505.00 Sq. ft. |
|
|
|
|
Saleable Area [After 20% loading on built
up] |
606.00 Sq. ft. |
|
|
|
|
They have adopted 80% of Present market value
as Distress sale value of property for the purpose of valuation as on date.
The owner has also done up the interiors and is enjoying an exclusive Lift
access to directly 4th Floor to his premises. The built up area as per agreement dated
06.09.2011 is 606.00 Sq. ft. The premises are located in Village Oshiwara,
Taluka Andheri, and Mumbai - 400053. Total Area for valuation purpose = 505 +
[0.2 x 505]
= 606.00 Sq. ft. The prevailing rates going on 4th floor for
Flat ranges between Rs. 25000 to Rs. 26000 per Sq. ft. They have adopted a
rate of Rs. 25000 for the purpose of valuation since premises is on 4th
Floor. |
|
|
|
|
|
Hence Market value of Flat No. 402 is |
606 x 25000 per Sq. ft. 15.150 Millions |
|
|
|
|
Interior Decoration Work |
Rs. 0.500 Million |
|
|
|
|
Total Value of Shop |
Rs. 15.700 Millions |
|
|
|
|
The Plot on which building stands is bounded
as follows: |
|
|
|
|
|
On or towards North by |
NA |
|
On or towards South by |
NA |
|
On or towards West by |
NA |
|
On or towards East by |
NA |
|
|
|
|
As per GPS system, location of building is: |
|
|
|
|
|
Quality of construction |
Good |
|
Landmark |
Lokhandwala Complex |
------------------------------------------------------------------------------------------------------------------------------
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. 60.81 |
|
|
1 |
Rs. 100.06 |
|
Euro |
1 |
Rs. 78.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.