MIRA INFORM REPORT
|
Report No. : |
315540 |
|
Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
J P MEHTA |
|
|
|
|
Registered
Office : |
DW 5070, BDB, Bharat Diamond Bourse, Bandra (East), Mumbai – 400051,
Maharashtra |
|
|
|
|
Tel. No.: |
Not Available |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 (Provisional) |
|
|
|
|
Date of
Establishment : |
30.10.1996 |
|
|
|
|
Capital
Investment : |
Rs. 7.000 Million |
|
|
|
|
Com. Reg. No.: |
BA46673 |
|
|
|
|
IEC No.: |
0388111151 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACFJ2322G |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
|
|
|
|
Line of Business
: |
Trader of Cut and Polished Diamonds. |
|
|
|
|
No. of Employees
: |
3 (Approximately) [In Office] |
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 |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established partnership firm having satisfactory track
record. It is engaged in trading of cut and polished diamond. The firm has reported healthy increases in its sales turnover during the
financial year 2013-14. The overall financial position of the firm seems to be sound. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The firm 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
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. Rajesh Dagli |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-9820187186 |
|
Date : |
09.04.2015 |
LOCATIONS
|
Registered Office : |
DW 5070, BDB, Bharat Diamond Bourse, Bandra (East), Mumbai – 400051,
Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9820085034 (Mr. Bipin Jethalal Mehta) 91-9820187186 (Mr. Rajesh Dagli) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Bipin Jethalal Mehta |
|
Designation : |
Partner |
|
Address : |
51, Vishesh CHS Limited, Near Sion Hospital, Sion, Mumbai – 400022,
Maharashtra, India |
|
Date of Birth/Age : |
28.02.1955 |
|
Experience : |
35 Years |
|
PAN No.: |
AABPM8243N |
|
|
|
|
Name : |
Mrs. Neeta Bipin Mehta |
|
Designation : |
Partner |
|
Address : |
51, Vishesh CHS Limited, Near Sion Hospital, Sion, Mumbai – 400022,
Maharashtra, India |
|
Date of Birth/Age : |
08.08.1959 |
|
Qualification : |
B.A. |
|
Experience : |
15 Years |
|
PAN No.: |
AFZPM2214A |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Dagli |
|
Designation : |
Chartered Accountant |
BUSINESS DETAILS
|
Line of Business : |
Trader of Cut and Polished Diamonds. |
|
|
|
|
Products : |
Diamonds |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
-- |
|
|
|
|
Imports : |
-- |
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
Cash |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
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||||||||||||||||||||||
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Customers : |
Wholesalers
|
||||||||||||||||||||||
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||||||||||||||||||||||
|
No. of Employees : |
3 (Approximately) [In Office] |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Bankers : |
· Bank of India |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajendra N. Shah and Company Chartered Accountants |
|
Address : |
“Shahviri”, 3rd Floor, 37/41, Picket Road, Kalbadevi,
Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-22018212/ 22056957 |
|
E-Mail : |
|
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Sister Concerns: |
-- |
CAPITAL STRUCTURE
As on 31.03.2015
(Provisional)
|
Capital Investment : |
|
|
Owned : |
Rs. 7.000 Million |
|
Borrowed : |
-- |
|
Total : |
Rs. 7.000
Million |
FINANCIAL DATA
[all figures are in
Rupees Million]
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2015 (Provisional) |
31.03.2014 |
31.03.2013 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
7.000 |
1.913 |
4.387 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Profit & Loss Account |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
7.000 |
1.913 |
4.387 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
12.000 |
5.606 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
12.000 |
5.606 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19.000 |
7.519 |
4.387 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.339 |
2.341 |
2.343 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.080 |
0.080 |
0.080 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
14.588
|
4.058
|
1.287 |
|
|
Sundry Debtors |
0.000
|
0.000
|
0.000 |
|
|
Cash & Bank Balances |
1.293
|
0.455
|
0.430 |
|
|
Other Current Assets |
0.500
|
0.326
|
0.177 |
|
|
Loans & Advances |
0.300
|
0.362
|
0.132 |
|
Total
Current Assets |
16.681
|
5.201
|
2.026 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.089
|
0.058 |
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000 |
|
|
Provisions |
0.100
|
0.014
|
0.004 |
|
Total
Current Liabilities |
0.100
|
0.103
|
0.062 |
|
|
Net Current Assets |
16.581
|
5.098
|
1.964 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19.000 |
7.519 |
4.387 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2015 (Provisional) |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
54.754 |
|
|
|
Other Income |
|
|
0.031 |
|
|
|
TOTAL |
|
|
54.785 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
|
52.208 |
|
|
|
Salary and Wages |
|
|
0.036 |
|
|
|
Selling and Adm. Expenses |
|
|
0.600 |
|
|
|
Bank Comm. and Interest |
|
|
0.600 |
|
|
|
Salary to Partners |
|
|
0.720 |
|
|
|
TOTAL |
|
|
54.164 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
0.621 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.002 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT/
(LOSS) |
|
|
0.619 |
|
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
50.716 |
19.854 |
|
|
|
Other Income |
|
0.000 |
0.000 |
|
|
|
TOTAL |
|
50.716 |
19.854 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
49.245 |
19.177 |
|
|
|
Office and Administration Expenses |
|
0.455 |
0.314 |
|
|
|
Remuneration |
|
0.600 |
0.000 |
|
|
|
TOTAL |
|
50.300 |
19.491 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
0.416 |
0.363 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.002 |
0.002 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT/
(LOSS) |
|
0.414 |
0.361 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2015 (Provisional) |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.13 |
0.82 |
1.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.25
|
5.49
|
8.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.22
|
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.71
|
2.93
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
166.81
|
50.50
|
32.68 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015
(Provisional) |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Partners Capital |
4.387 |
1.913 |
7.000 |
|
Profit & Loss Account |
0.000 |
0.000 |
0.000 |
|
Net
worth |
4.387 |
1.913 |
7.000 |
|
|
|
|
|
|
Secured Loans |
0.000 |
5.606 |
12.000 |
|
Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
5.606 |
12.000 |
|
Debt/Equity
ratio |
0.000 |
2.930 |
1.714 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015
(Provisional) |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
19.854 |
50.716 |
54.754 |
|
|
|
155.445 |
7.962 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015
(Provisional) |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
19.854 |
50.716 |
54.754 |
|
Profit |
0.361 |
0.414 |
0.619 |
|
|
1.82% |
0.82% |
1.13% |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
Yes |
|
25] |
Conduct of the banking
account |
Yes |
|
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 |
------------------------------------------------------------------------------------------------------------------------------
J P MEHTA
COMPUTATION OF TOTAL INCOME
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2014 |
||
|
|
|
|
|
|
PROFITS AND GAINS
OF BUSINESS OR PROFESSION |
|
|
|
|
Business 1 : Net Profit |
|
|
|
|
Net Profit Before Tax as per P & L A/c |
|
0.414 |
|
|
Add: Inadmissible expenses @ Income not included |
|
|
|
|
Depreciation debited to P & L A/c |
0.002 |
|
|
|
37 disallowance |
0.022 |
|
|
|
Remuneration to partners/ members debited in P & L A/c |
0.600 -------- |
0.624 --------- |
|
|
Adjusted Profit from Business 1 |
|
1.038 --------- |
|
|
Total income from Business and Profession |
|
1.038 |
|
|
Less: Depreciation as per IT Act |
|
0.002 --------- |
|
|
Book profit |
|
1.036 |
|
|
Less: Remuneration and Interest to partners |
|
0.600 --------- |
|
|
Income chargeable under the head “Business and Profession” |
|
|
0.436 --------- |
|
|
|
|
0.436 |
|
Gross Total Income |
|
|
|
|
Deductions under chapter VI-A |
|
|
|
|
80G – Donations |
|
|
0.011 --------- |
|
|
|
|
|
|
Total Income |
|
|
0.425 --------- |
|
Total income rounded off u/s 288A |
|
|
0.425 |
|
|
|
|
|
|
Tax on Total Income
|
|
|
0.128 |
|
Add: Education cess |
|
|
0.003 --------- |
|
Net Tax |
|
|
0.131 |
|
Advance Tax |
|
0.025 |
|
|
Total prepaid taxes |
|
|
0.025 -------- |
|
Balance Tax |
|
|
0.106 |
|
Interest u/s 234A |
|
-- |
|
|
Interest u/s 234B |
|
0.007 |
|
|
Interest u/s 234C |
|
0.003 |
0.010 --------- |
|
Net tax payable |
|
|
0.116 |
|
Self assessment tax paid |
|
|
0.116 |
|
Balance tax payable |
|
|
--------- 0.000 --------- |
------------------------------------------------------------------------------------------------------------------------------
MRS. NEETA BIPIN MEHTA
COMPUTATION OF TOTAL INCOME
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2013 |
||
|
|
|
|
|
|
PROFIT AND GAINS OF BUSINESS INCOME |
|
|
|
|
|
|
|
|
|
Profit from F & OF Business |
|
(0.352) |
|
|
Add: Disallowable and considered separately |
|
|
|
|
Depreciation @ 15% on Motor Car |
|
0.093 |
|
|
Mobile bill disallowed @ 50% |
|
0.008 -------- |
|
|
|
|
(0.251) |
|
|
Less: Allowables |
|
|
|
|
Depreciation u/s 32 |
|
0.093 -------- |
(0.344) |
|
|
|
|
|
|
INCOME FROM
OTHER SOURCES |
|
|
|
|
Interest Received from: |
|
|
|
|
Bank Interest |
|
0.023 |
|
|
UTI Mutual Fund |
|
0.015 --------- |
0.038 --------- |
|
|
|
|
|
|
GROSS TOTAL INCOME |
|
|
(0.306) |
|
|
|
|
|
|
Deduction under chapter VI A |
|
|
|
|
u/s 80C: LIC Premium 0.134 rest to |
0.100 |
|
|
|
u/s 80D: Mediclaim 0.020 rest to |
0.015 |
|
|
|
u/s 80TTA: Savings Bank Interest 0.021 rest to |
0.010 ---------- |
0.125 (restricted to) |
-- |
|
|
|
|
|
|
Net total Income |
|
|
----------- (0.306) ----------- |
|
|
|
|
|
|
NOTES |
|
|
|
|
|
|
|
|
|
Net Total Income |
|
|
0.306 |
|
|
|
|
|
|
Tax Thereon |
|
|
0.000 |
|
|
|
|
|
|
Less: TDS on Interest |
|
|
0.000 |
|
|
|
|
|
|
Refund Due |
|
|
0.000 |
------------------------------------------------------------------------------------------------------------------------------
MRS. NEETA BIPIN MEHTA
COMPUTATION OF TOTAL INCOME
(RS. IN MILLIONS)
|
PARTICULARS |
31.03.2013 |
||
|
|
|
|
|
|
PROFIT AND GAINS FROM BUSINESS AND PROFESSION |
|
|
|
|
|
|
|
|
|
F & O Profit |
|
(0.061) |
|
|
Add: Expenses considered separately |
|
|
|
|
Depreciation as per books |
|
0.007 |
|
|
Less: Depreciation u/s 32 |
|
0.007 -------- |
(0.061) |
|
|
|
|
|
|
INCOME FROM OTHER SOURCES |
|
|
|
|
Interest received from |
|
|
|
|
Saving Bank |
|
0.002 |
|
|
UTI Mutual Fund |
|
0.010 --------- |
0.012 --------- |
|
|
|
|
|
|
Gross Total Income |
|
|
(0.049) |
|
|
|
|
|
|
Less: Admissible Deduction under chapter VI-A: |
|
|
|
|
u/s 80C: LIC Premium |
0.074 |
|
|
|
u/s 80TTA: Savings Bank Interest --------- |
0.002 |
0.076 (Restricted to) |
0.000 |
|
|
|
|
|
|
Net Total Income |
|
|
(0.049) |
|
|
|
|
|
|
Notes: |
|
|
|
|
|
|
|
|
|
Net Total Income |
|
|
(0.049) ---------- |
|
|
|
|
|
|
Tax thereon |
|
|
0.000 |
|
|
|
|
|
|
Add: Education Cess @ 3% |
|
|
0.000 -------- |
|
|
|
|
|
|
Total Tax Payable |
|
|
0.000 |
|
|
|
|
|
|
Less: TDS |
|
|
0.000 |
|
|
|
|
|
|
Refund Due |
|
|
0.000 |
------------------------------------------------------------------------------------------------------------------------------
MR. BIPIN JETHALAL MEHTA
BALANCE SHEET
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Capital |
2.680 |
2.950 |
2.282 |
|
|
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 |
2.680 |
2.951 |
2.282 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
|
|
|
|
|
2] Unsecured Loans |
|
|
|
|
|
TOTAL BORROWING |
2.581 |
2.898 |
4.249 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.261 |
5.849 |
6.531 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.842 |
0.935 |
0.937 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.448 |
3.071 |
1.351 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000
|
0.000 |
|
|
Cash & Bank Balances |
0.342
|
0.234
|
0.170 |
|
|
Balance with regd. firm |
1.948
|
1.002
|
1.446 |
|
|
Loans & Advances |
0.873
|
0.683
|
2.627 |
|
Total
Current Assets |
3.163
|
1.919
|
4.243 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.192
|
0.076
|
0.000 |
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000 |
|
|
Provisions |
0.000
|
0.000
|
0.000 |
|
Total
Current Liabilities |
0.192
|
0.076
|
0.000 |
|
|
Net Current Assets |
2.971
|
1.843
|
4.243 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.261 |
5.849 |
6.531 |
|
------------------------------------------------------------------------------------------------------------------------------
MR. BIPIN JETHALAL MEHTA
PROFIT AND LOSS ACCOUNT
(RS. IN MILLIONS)
|
PARTICUALRS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
PARTICUALRS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
To loss from F & O Business |
0.076 |
0.506 |
0.200 |
By Loan written back |
-- |
0.871 |
-- |
|
|
|
|
|
N. Mohanlal Nagardas |
|
|
|
|
Demat Charges |
-- |
-- |
0.001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To Interest on Bank o/d |
0.160 |
0.205 |
0.160 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To Electricity Bill Payment |
-- |
-- |
0.021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To Bank Charges |
0.007 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To Mobile Bill |
0.016 |
0.026 |
0.015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To Depreciation |
0.093 |
0.050 |
0.058 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To Net Profit c/f |
(0.352) |
0.084 |
-- |
By Net Loss C/f |
|
|
0.455 |
|
|
|
|
|
|
|
|
|
|
Total |
0.000 |
0.871 |
0.455 |
|
0.000 |
0.871 |
0.455 |
------------------------------------------------------------------------------------------------------------------------------
MRS. NEETA BIPIN MEHTA
BALANCE SHEET
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Capital |
|
3.157 |
3.112 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
3.157 |
3.112 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.125 |
0.125 |
|
|
TOTAL BORROWING |
|
0.125 |
0.125 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.282 |
3.237 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.059 |
0.066 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.552 |
0.552 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000
|
0.000 |
|
|
Sundry Debtors |
|
0.000
|
0.000 |
|
|
Cash & Bank Balances |
|
0.181
|
0.069 |
|
|
Balance with partnership firm |
|
2.362
|
2.168 |
|
|
Loans & Advances |
|
0.451
|
0.590 |
|
Total
Current Assets |
|
2.994
|
2.827 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.323
|
0.208 |
|
|
Other Current Liabilities |
|
0.000
|
0.000 |
|
|
Provisions |
|
0.000
|
0.000 |
|
Total
Current Liabilities |
|
0.323
|
0.208 |
|
|
Net Current Assets |
|
2.671
|
2.619 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.282 |
3.237 |
|
|
LIABILITIES |
31.03.2011 |
ASSETS |
31.03.2011 |
|
|
|
|
|
|
Capital Account |
3.036 |
FIXES ASSETS |
|
|
|
|
Furniture |
0.090 |
|
LOANS |
|
|
|
|
Dhara Mehta 0.056 |
|
INVESTMENTS |
|
|
Indumati J. Mehta 0.008 |
|
In shares |
|
|
Rishwa Mehta 0.056 |
|
Indian Rayon 0.039 |
|
|
N. Mohanlal Nagardas 0.351 --------- |
0.471 |
Grasim (Ind.) 0.360 |
|
|
|
|
HMT Limited 0.004 |
|
|
|
|
Pentafour Limited 0.003 |
|
|
|
|
Master Share 0.128 |
|
|
|
|
Paper Merchants 0.001 |
|
|
|
|
Vinyl Chemicals Limited 0.007 |
|
|
|
|
Rolta India Limited 0.005 |
|
|
|
|
Rel Power 0.007 --------- |
0.552 |
|
|
|
|
|
|
|
|
LOANS AND ADVANCES |
|
|
|
|
Pramukh Paper Corporation |
0.465 |
|
|
|
Bipin Jethalal Mehta |
0.302 |
|
|
|
Yogesh J. Mehta |
0.145 |
|
|
|
|
|
|
|
|
BALANCE WITH PARTNERSHIP FIRM |
|
|
|
|
J. P. Mehta |
1.515 |
|
|
|
|
|
|
|
|
CASH AND BANK BALANCE |
|
|
|
|
Bank of India |
0.291 |
|
|
|
Cash on hand |
0.177 |
|
|
|
|
|
|
|
3.507 |
|
3.537 |
------------------------------------------------------------------------------------------------------------------------------
MRS. NEETA BIPIN MEHTA
PROFIT AND LOSS ACCOUNT
|
PARTICUALRS |
31.03.2013 |
31.03.2012 |
PARTICUALRS |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
To Loss from F & O Business |
0.055 |
0.495 |
By Loan from N. Mohanlal Nagardas written off |
-- |
0.351 |
|
|
|
|
|
|
|
|
To Depreciation |
0.006 |
0.007 |
By Net Loss |
-- |
0.158 |
|
|
|
|
|
|
|
|
To Mobile Expenses |
-- |
0.007 |
|
|
|
|
|
|
|
|
|
|
|
To Net Profit C/F |
(0.061) |
-- |
|
|
|
|
|
|
|
|
|
|
|
Total |
0.000 |
0.509 |
Total |
0.000 |
0.509 |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT OF WORKING CAPITAL REQUIREMENTS
OPERATING STATEMENT
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
31.03.2016 |
|
|
|
|
|
1. |
Domestic Sales and Labour Recpt. |
100.000 |
|
2. |
Export Sales |
0.000 |
|
|
Total |
100.000 |
|
|
Less: Excise Duty |
0.000 |
|
|
Net Sales (1-2) |
100.000 |
|
|
% Rise as compared to previous year |
182.64% |
|
|
|
|
|
2 |
Cost of sales |
|
|
|
a. Raw Materials (incl. stores and other items used in process of manufacture) imported (Purchases) |
|
|
|
Opening stock of rough diamonds |
0.000 |
|
|
Add: Purchases – Import/ Local |
0.000 |
|
|
Less: Closing Stock of Rough Diamonds |
0.000 |
|
|
Stores/ Consumables |
0.000 |
|
|
Cost of Production |
0.000 |
|
|
|
|
|
3 |
Direct labour |
0.000 |
|
|
|
|
|
4 |
Other Mfg. Expenses |
0.000 |
|
|
|
|
|
5 |
Depreciation |
0.002 |
|
|
|
|
|
|
Sub-Total (1 to 6) |
0.002 |
|
|
|
|
|
|
Cost of Production |
0.002 |
|
|
|
|
|
|
Add: Opening stock of polished diamonds |
14.588 |
|
|
|
|
|
|
Add: purchase polished diamonds |
98.012 |
|
|
|
|
|
|
Sub total |
112.602 |
|
|
|
|
|
|
Less: Closing Stock of Polished diamonds and gold |
18.500 |
|
|
|
|
|
|
Sub-total (Cost of Sales) |
94.102 |
|
|
|
|
|
6. |
Selling general and administrative expenses |
0.820 |
|
|
|
|
|
7. |
Sub-total (5+6) |
94.922 |
|
|
|
|
|
8. |
Operating profit (before interest) (3-7) |
5.078 |
|
|
|
|
|
9. |
Interest |
2.500 |
|
|
|
|
|
10. |
Operating profit after interest (8-9) |
2.578 |
|
|
|
|
|
11. |
1. Add: Other non-operating income |
0.035 |
|
|
|
|
|
|
Sub-total (Income) |
0.000 |
|
|
|
|
|
|
2. Less: Remuneration to partners |
0.900 |
|
|
|
|
|
|
Sub-total (expenses) |
0.000 |
|
|
|
|
|
|
3. No of other income/ exps (net of II(1) II(2)) |
(0.865) |
|
|
|
|
|
12. |
Profit before tax (10 + 11(3)) |
1.713 |
|
|
|
|
|
13. |
Interest to partners |
0.000 |
|
|
|
|
|
14. |
Net profit (12-13) |
1.713 |
|
|
|
|
|
15. |
Capital introduced |
3.787 |
|
|
|
|
|
|
Less: Drawings |
0.000 |
|
|
|
|
|
16 |
Total Capital Retained |
5.500 |
|
|
|
|
|
17 |
Retained Profit/ Net Profit |
321.07% |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
31.03.2016 |
|
|
|
Projected |
|
|
|
|
|
1. |
Short term borrowings from bank (Inc. bills purchased and discounted and the excess borrowings) |
|
|
|
|
|
|
|
a. From Application Bank |
0.000 |
|
|
b. From other Bank (of which BP and BD) |
25.000 |
|
|
c. Sub Total (A) |
25.000 |
|
|
|
|
|
2. |
Short term borrowings |
-- |
|
|
|
|
|
3 |
Sundry creditors (Trade) |
4.500 |
|
|
Days purchase |
0.00 |
|
|
|
|
|
4. |
Advances payments from customer/ deposits |
0.000 |
|
|
|
|
|
5. |
Provision for duties/ taxation |
0.000 |
|
|
|
|
|
6. |
Dividend payable |
0.000 |
|
|
|
|
|
7 |
Other statutory liabilities due with one year |
0.000 |
|
|
|
|
|
8 |
Deposits/ Instalments of loan/ DPGs/ Debentures |
0.000 |
|
|
|
|
|
9 |
Other current liabilities provisions |
0.500 |
|
|
|
|
|
|
Sub total |
5.000 |
|
|
|
|
|
10 |
Total current liabilities |
|
|
|
Total of (1 to 9) |
30.000 |
|
|
|
|
|
11 |
Term liabilities Debentures (Excl. not matured) |
0.000 |
|
|
|
|
|
12 |
Preference Share Excl. Redeemable |
0.000 |
|
|
|
|
|
13 |
Term loans (Ex instalments payable within year) |
0.000 |
|
|
|
|
|
14 |
Deferred payment credits (Exc. Instalment payable within year) |
0.000 |
|
|
|
|
|
15 |
Term deposit excl. payable within year |
0.000 |
|
|
|
|
|
16 |
Other term liabilities |
0.000 |
|
|
|
|
|
17 |
Total term liabilities (11 to 16) |
0.000 |
|
|
|
|
|
18 |
Total outside liabilities (10+17) |
30.000 |
|
|
|
|
|
|
Net worth |
|
|
|
|
|
|
19 |
Ordinary share capital |
12.500 |
|
|
|
|
|
20 |
General reserve |
0.000 |
|
|
|
|
|
21 |
Quasi capital |
0.000 |
|
|
|
|
|
22 |
Bal. in p&l account |
0.000 |
|
|
|
|
|
23 |
Surplus/ deficit in profit and loss account |
0.000 |
|
|
|
|
|
24 |
Net worth |
12.500 |
|
|
|
|
|
25 |
Total liabilities (18+24) |
42.500 |
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
26 |
Cash and bank balances |
0.963 |
|
|
|
|
|
27 |
Investments (other than long term investments) |
0.100 |
|
|
|
|
|
|
Fixed deposits with banks |
0.000 |
|
|
|
|
|
28 |
a. Receivable other than export – local receivables (Incl. bills pur/ disc bank) |
20.000 |
|
|
|
|
|
|
b. Export receivable incl. bills pur/ dis. Bank |
0.000 |
|
|
(Days) |
0.00 |
|
|
|
|
|
29 |
Deposits/ vat refund |
0.600 |
|
|
|
|
|
30 |
Inventory |
18.500 |
|
|
(days cost of production) |
68.00 |
|
|
1. Raw materials (inclusive stores) |
|
|
|
a. Imported |
0.000 |
|
|
b. Local |
0.000 |
|
|
Days cost of production |
0.00 |
|
|
ii) Stores and consumables |
0.000 |
|
|
Days cost of production |
0.00 |
|
|
iii) polished diamonds |
0.558 |
|
|
Days cost of production |
10.00 |
|
|
iv). Other consumables and spares |
0.000 |
|
|
a. Imported |
0.000 |
|
|
b. Local |
0.000 |
|
|
|
|
|
31 |
Advances to suppliers/ raw materials and spare parts |
0.000 |
|
|
|
|
|
32 |
Advance payment taxes |
0.000 |
|
|
|
|
|
33 |
Other current assets |
0.000 |
|
|
|
|
|
34 |
Total current assets Total of 26 to 33 |
40.163 |
|
|
|
|
|
35 |
Gross block (Land and building machinery work in progress) |
2.339 |
|
|
|
|
|
36 |
Depreciation to date |
0.000 |
|
|
Addition during year |
2.337 |
|
|
|
|
|
37 |
Net block (35-36) |
2.337 |
|
|
|
|
|
|
Other non current |
0.000 |
|
|
|
|
|
38 |
Investments/ book debts advances/ deposits which are not current assets |
0.000 |
|
|
1. Investment in subsidiary companies/ affiliated |
0.000 |
|
|
2. Others (debtors more than 6 months) |
0.000 |
|
|
|
|
|
|
i. Advances to suppliers of capital goods and cont. |
0.000 |
|
|
ii. deferred receivables (Maturity exceeding 1 year) |
0.000 |
|
|
Others |
0.000 |
|
|
|
|
|
39 |
Non-consumable stores and spares |
0.000 |
|
|
|
|
|
40 |
Other non current assets incl. dues from directors |
0.000 |
|
|
|
|
|
41 |
Total other non current assets (total 38 to 40) |
0.000 |
|
|
|
|
|
42 |
Intangible assets patents goodwill, preliminary exp/ bad/ doubtful debts not provided |
0.000 |
|
|
|
|
|
43 |
Total assets (total of 34, 37, 41 and 42) |
42.500 |
|
|
|
|
|
44 |
Tangible net worth (24-42) |
12.500 |
|
|
|
|
|
45 |
Net working capital to tally with (34/10) |
10.163 |
|
|
|
|
|
46 |
Current ratio (34/10) |
1.34 |
|
|
|
|
|
47 |
Total outside liabilities Tangible net worth (18/44) |
2.40 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE STAEMENT OF CURRENT ASSETS AND LIABILITIES
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
31.03.2016 |
|
|
|
Projected |
|
|
|
|
|
1 |
Raw materials (including stores and other items used in the process of mfg.) |
|
|
|
|
|
|
|
a. imported |
0.000 |
|
|
Months consumption |
0.00 |
|
|
|
|
|
|
b. indigenous |
0.000 |
|
|
Months consumption |
0.00 |
|
|
|
|
|
2 |
a. Other consumable spares |
0.000 |
|
|
Excluding those incl. 1 above |
0.00 |
|
|
|
|
|
|
b. Raw material/ WIP |
0.000 |
|
|
Days consumption |
0.00 |
|
|
|
|
|
3 |
Indigenous |
0.000 |
|
|
Days consumption |
0.00 |
|
|
|
|
|
4 |
Stock in process |
0.000 |
|
|
Days consumption |
0.00 |
|
|
|
|
|
5 |
Polished diamonds |
18.500 |
|
|
Days consumption |
68.00 |
|
|
|
|
|
6 |
Receivables other than export and deferred receivable (incl. bills pur. And discounted by bankers) |
20.000 |
|
|
Days domestic sale excl. deferred sales |
|
|
|
|
|
|
7 |
Export receivables including bills purchased and discounted by bankers |
0.000 |
|
|
Months export sales |
0.00 |
|
|
|
|
|
8 |
Advances to suppliers of raw materials and stores/ spares consumables |
0.000 |
|
|
|
|
|
9 |
Other current assets including cash and bank balances and deferred receivable due within one year |
1.663 |
|
|
|
|
|
10 |
Total current assets |
40.163 |
|
|
|
|
|
|
CURRENT LIABILITIES (other than bank borrowing for working capital) |
|
|
|
|
|
|
11 |
Creditors for purchase of raw materials stores and consu. |
4.500 |
|
|
Days purchase |
17.00 |
|
|
|
|
|
12 |
Statutory liabilities |
0.000 |
|
|
|
|
|
13 |
Other current liabilities |
0.500 |
|
|
|
|
|
|
Short term borrowings prov. For taxation dividend payable accrued exp. Deposits/ install. Of term loan DPGS/ Debentures etc. (due within one year) misc. current liabilities |
0.000 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS. IN MILLIONS)
|
SR. NO. |
PARTICULARS |
31.03.2016 |
|
|
|
Projected |
|
|
|
|
|
1. |
Total current assets |
40.163 |
|
|
|
|
|
2. |
Other current liabilities (other than bank borrowings) |
5.000 |
|
|
|
|
|
3. |
Working capital |
35.163 |
|
|
|
|
|
4. |
Minimum stipulated net working capital i.e. 25% of WCS/ 25% of total current assets as the case may be depending upon method of lending being applied (export receivable to be excl. under both method) |
8.791 |
|
|
|
|
|
5. |
Actual/ projected net working capital |
10.163 |
|
|
|
|
|
6. |
Items 3 minus items 4 |
26.372 |
|
|
|
|
|
7. |
Items 3 minus items 5 |
25.000 |
|
|
|
|
|
8. |
Maximum permissible bank finance (item 6 or 7, whichever is lower) |
25.000 |
|
|
|
|
|
9. |
Excess borrowings representing shortfall in NWC (4-5) |
0.000 |
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT
|
GENERAL
DETAILS |
|
|
|
|
|
Purpose of valuation |
To ascertain the fair market value as on date of property for mortgage loan proposal with Vijaya Bank, Branch: Overseas, Nariman Point, Mumbai – 400021 |
|
|
|
|
Date of Visit |
30/03/2015 |
|
|
|
|
Person(s)/ accompanying/ available at the site at the time of inspection/ valuation |
The property was inspected in the presence of representative of the owner of the property |
|
|
|
|
Party interest in valuation |
Valuation initiated by the Branch Manager, Vijaya Bank, Branch: Overseas, Nariman Point, Mumbai – 400021 |
|
|
|
|
Name of the reported owner |
The property is jointly owned by Mr. Bipin Jethalal Mehta and Mrs. Rambhaben Chhaganlal Mehta |
|
|
|
|
Complete address of the property (Door No., Street/ Cross Road, Survey No. etc.) |
Flat No.51, Fifth Floor, “Vishesh” Co-operative Housing Society Limited (Soc. Regd. No. BOM/WFN/HSG/TC/45307/08/09/1986), Plot No. 252, Eastern Express Highway, Near Sion Hospital, Sion, Mumbai – 400022 |
|
|
|
|
Nearby landmark |
Near Sion Hospital |
|
|
|
|
Longitude and latitude |
Longitude: 72o 51’ 33.9” E and Latitude: 19o 02’ 04.09” N |
|
|
|
|
Plot boundaries (Actual) |
|
|
On or towards north |
By plot No. 251 |
|
On or towards south |
By ashish building |
|
On or towards west |
By sion hospital residence quarters |
|
On or towards east |
By eastern express highway |
|
|
|
|
Ownership of the property |
Owner occupied |
|
|
|
|
Name and address of the owner |
The property is owned by Mr. Bipin Jethalal Mehta and Mrs. Rambhaben Chhaganlal Mehta Residing at: 3/422, Shree Kirshna Niwas, Shradhanand Road, Matunga, Mumbai – 400019 Tel. No.: 91-9820085034/ 9820187186 |
|
|
|
|
Since how long owning the property? |
Since 05/02/1981 |
|
|
|
|
Whetehr joint/ co-ownership/ others (specify) |
Joint ownership |
|
|
|
|
In case of joint ownership, furnish shares of each owner and also whether the shares are undivided |
The share of each owner is not mentioned in the documents then it is to be taken as “equal share for each owner” |
|
|
|
|
Whether assessed to wealth tax if so wealth tax paid |
Not known |
|
|
|
|
Corporation tax paid Amount Year of assessment Date of payment |
Taxes are as per the standard norms of municipal corporation of greater Mumbai |
|
|
|
|
Restrictive clauses to uses, if any (whether building has certificate from the corporation has been obtained, etc.) |
The building is sanctioned for residential use only |
|
|
|
|
Locational advantages/ disadvantages |
The area is well developed and having basic infrastructure facilities and services like water supply, electricity and telecommunication, sewage and storm water drainage system, etc. |
|
|
|
|
Classification of locality – High class, Middle class, Poor class |
The flat is situated in middle class locality in residential area |
|
|
|
|
Civic amenities |
Civic amenities such as Schools, Colleges, Markets, Banks, Shops and Hospitals, etc. are available within 1 to 2 kms distance from the property |
|
|
|
|
Proximity to surface communication |
The areas is well connected with all parts of Mumbai and Thane district by good network of Roads and Railways. Transportation means such as Buses, Taxis and Rickshaws are available. It is situated at a distance of 1 to 2 kms distance from the property |
|
|
|
|
Proximity to surface communication |
The area is well connected with all parts of Mumbai and Thane district by good network of Road and Railways. Transportation means such as Buses, Taxis an Rickshaws are available. It is situated at a distance of 1 to 2 km from Sion Railway Station |
|
|
|
|
Distance from the city/ Municipal limits |
The area falls within the limits of Municipal Corporation of Greater Mumbai |
|
|
|
|
If the property is not within the city/ town/ municipal limits, then state the distance of the property from the Municipal office Municipal limit |
Property is within Municipal limits |
|
|
|
|
Disadvantages, if any, to be specified |
Nothing specific |
|
|
|
|
Title to the property |
|
|
Whether free hold |
It is ownership type of tenement on leasehold land |
|
|
|
|
If leasehold, Name of the lessor/ lessee, nature of lease, date of commencement and terms of renewal of lease |
Details not available |
|
Rent per annum |
|
|
Unearned increase payable to the lessor in the event of sale of transfer |
|
|
|
|
|
Type of property – whether |
|
|
Agriculture |
No |
|
Industrial |
No |
|
Residential (Flat/ Apartment) (Any restrictive clauses for sale etc., to be furnished) |
Yes, Residential flat |
|
Commercial |
No |
|
Institutional |
No |
|
Others (Specify) |
-- |
|
|
|
|
Area of land to be supported by a map showing shape dimension and physical features |
Valuation is for flat only |
|
|
|
|
Has the whole or part of land being notified for acquisition by government or statutory body? If so give details |
No |
|
|
|
|
Area of building/ constructed portion (state separately for factory, admin. Building, staff quarters, etc.) |
Measured Carpet Area as per the provision of development control regulations for Greater Mumbai, 1991 = 760 sft and Open terrace area = 204 sft 50% of area of terrace consider for valuation Carpet area of the flat considered for valuation = Carpet area + 50% are of terrace = 760 sft + (204 sft x 0.5) = 760 sft + 102 sft = 862 sft Now-a-days as per the current market trends the properties are getting sold on saleable area/ super built up area which is 30% to 55% more than carpet area. For valuation purpose they have considered saleable area/ super built up area 30% more than carpet area Hence, super built up area of the flat = Carpet Area x 1.30 =862 sft x 1.30 = 1120.60 sft Say 1121 sft Note: In absence of sactioned plan and documented area is also not mentioned in agreement. They are valued this property on measurement carpet area. Few assumption are made |
|
|
|
|
Type/ Class of construction |
RCC framed structure |
|
|
|
|
Service items available (list of all items to be provided – such as lifts, bore well, sump, embedded motors, D.G. Set, water supply, sanitary disposal systems, canteen, stores, etc.) |
Municipal water supply and sewer, septic tank system, lift, U/G, O/H water tank, etc., are available. |
|
|
|
|
What is the |
|
|
|
|
|
Year of acquisition/ purchase of land |
-- |
|
|
|
|
Value/ purchase price land |
Rs. 0.040 Million (Agreement price in the year 1981) |
|
|
|
|
Year of construction of super structure/ purchase of building |
The building was constructed in the year 1980 of thereabout |
|
|
|
|
No. of floors/ stories |
Ground + 5 upper floors |
|
|
|
|
Year of completion |
The building was completed in the year 1981 or therefore |
|
|
|
|
Cost of construction/ purchase price |
Rs. 0.040 Million (Agreement price in the year 1981) |
|
|
|
|
Additional/ improvements carried out if any – state briefly nature of additions/ improvements, total cost thereof |
As per technical details |
|
|
|
|
Age of building |
The building is repordly 35 years old (This is based on oral information. No documentary proof was given by the owner to show the exact year of construction) |
|
|
|
|
Rate and amount of depreciation |
Adopted depreciated market rate for valuation |
|
|
|
|
Valuer’s opinion regarding the present condition/ state of building |
The building is well maintained and from internal observation of the subject flat it appears to be in good condition |
|
|
|
|
Estimated future life |
About 30 years under normal circumstances with proper and regular maintenance and this opinion is based on macroscopic inspection of the subject property |
|
|
|
|
|
|
|
State for what type of activity/ industry the premises well suited |
Not Applicable |
|
Sanctioned / connected power load |
|
|
Type of activity presently going on at the premises |
|
|
|
|
|
Whether the property is residential flat/ apartment – if so, then state |
Yes, Residential flat |
|
|
|
|
When the building was constructed |
The building was constructed in the year 1980 or thereabout |
|
|
|
|
In which floor/ storey, flat is located |
The flat is located on 5th floor |
|
|
|
|
|
|
|
a. Whether dry or wet lands |
|
|
b. Irrigation facilities available |
Not Applicable |
|
c. Type of crops grown and annual yield/ income in the previous years |
|
|
|
|
|
Whether the building/ property is constructed strictly according to the sanctioned plan |
The sanctioned building plan was not made available for their perusal. Hence, few assumptions are made |
|
|
|
|
Whether the property is self-occupied or tenanted/ let out, if tenanted/ let out - |
Owner occupied |
|
|
|
|
Since how long |
|
|
To how many tenants |
|
|
What is the total monthly income |
Details not known |
|
|
|
|
|
|
|
Date of Valuation |
|
|
Name and address of the valuer |
The property is not valued by them |
|
Whether in the approved panel of the bank |
|
|
Purpose of earlier valuation |
|
|
Basis of valuation |
|
|
|
|
|
Basis of present
valuation |
|
|
|
|
|
Preeestn depreciated value |
-- |
|
|
|
|
Fair market vaue as on date |
Super built up area of the flat = 1121 sft Factors Considered: The Location, Internal condition of the flat and amenities and facilities available, grade and age of building, current demand and supply, etc., (Prevailing market rates for flat having similar amenities and loading factor are in the range of Rs. 25,000/- Million to Rs. 30,000 Million per sft) For the same premises rates on carpet area basis are highest, on super built up area basis they are lowest and on built up area basis they are in between Note:
About the per sft Rate adopted Vis-à-vis the saleable area Regarding area, there are different terminologies in vogue in the real estate market. E.g. carpet area, built up area (BUA) super built up area (SBUA), saleable area, etc. for the same property the per sft rate is different depending upon for what type of area the rate is specified. The only measurable area is carpet area where as the built up area (BUA) or super built up area (SBUA) etc are “Calculated Area”. Using a factor called “Loading Factor” (percentage increase), the Carpet Area is inflated to get the built up area or super built up area or saleable area for a particular premises. There is no regulatory body to control such a loading factor, which project. Generally the loading factor is related to amenities provided in a particular project. Under such circumstances, the valuers job becomes very challenging. The market rate obtained during local enquiry for neighbouring properties, may be on Carpet or super built up area basis. The loading factor differs from building to building. Thus the rates obtained in local enquiry are generally not applicable directly to the subject property. In view of this, when they are giving opinion to the bank regarding Value of the security, for us the intrinsic value of the property is relevant. Their emphasis is on “Value” of the security and not on “Built up area” or “Super Built up” etc. hence the per sft rate is judiciously adopted keeping in mind the characteristics such as the amenities provided, the loading factor adopted etc. Market Rate Adopted = Rs. 27.000/- per sft. (Supporting documents in the form of sale advt. obtained from reputed websites are enclosed) Hence, fair market value of the property as on date = Super built up area x Market rate adopted = 1121 sft x Rs. 27,000/- = Rs. 30.267 Millions Say Rs. 30.300
Millions |
|
|
|
|
Rate adopted |
Rs. 27,000/- per sft rate adopted |
|
|
|
|
Basis for the adopted rates |
Basis is by local enquiry, location, internal condition of the flat and amenities available, etc. |
|
|
|
|
Govt. Guideline Value |
Measures Carpet Area as per the Provision of Development Control Regulations for Greater Mumbai, 1991 = 760 sft Add 20% fo Built up area (As per guidelines provided by Govt. of Maharashtra in the Ready Reckoner for stamp duty purpose) Hence, built up area of the flat = Carpet Area x 1.20 = 760 sft x 1.20 = 912 sft For stamp duty purpose the Government of Maharashtra has fixed the rate for new flat in this area is Rs. 1,83,800/- per sqm i.e. Rs. 17,075/- per sft This building is 35 years old. Considering 40% depreciation, Hence, Govt. Guideline Value = Built up area x Govt. rate adopted x Depreciation factor = 912 sft x Rs. 17,075/- x 060 = Rs. 9.343 Million |
|
|
|
|
Whether the adopted rates are commensurate with the rates adopted by the Registrar’s office? In case of wide variation, specify reasons |
No. it may be noted that the govt. guideline value are for stamp duty purpose, they are generally constant along a particular road i.e. it doesn’t take into account the advantage/ disadvantage of particular property vis-à-vis its location. Rates of plots vary from site to site and within a site from micro-site to micro-site. That is why their valuation differs from Govt. stamp duty ready reckoner rate |
|
|
|
|
Whether the adopted rates have any relationship with those adopted by the I.T. Department |
No |
|
|
|
|
Whether the rates are based on prevalent rates in the area. If so, the basis for accepting the same |
Yes |
|
|
|
|
In case of increase in present valuation over the previous valuation over the previous valuation, then furnish the specific reasons, basis for the increase in value and the details of variation |
Not Applicable |
|
|
|
|
|
|
|
a. for what value |
Details regarding building insurance were not made available for their verification. |
|
b. Against what risks |
|
|
c. Date of expiry of insurance |
|
|
|
|
|
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 asset 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. (As defined by the international valuation standards committee, London.) Thus, the characteristics of the ‘Market Value’s are – a) It is a free will sale. b) It is an estimated amount and not a predetermined or an actual sale price. c) It is time-specific as on the given date d) It depends on purpose of valuation e) Buyer and seller are actuated by business principles. They are unrelated and are acting independently. f) Asset would be exposed to the market in the most appropriate manner to effect its disposal at the best price possible. = Rs. 30.000 Million |
|
|
|
|
In case the bank were to sell : The property what would be the approximate realizable value (Forced/ Distress value of property as on date) |
It means the amount, which may reasonably be expected to be obtained from the sale of a property in which one or more characteristics of the definition of market value are not satisfied. The seller may be an unwilling seller and the buyer may be motivated by the knowledge of the disadvantage the seller suffers from past experience has shown that generally in forced/ distress sale conditions the values fetched are about 10% to 40% (or sometimes even more) below the market value. In their opinion, considering the characteristics of assets under valuation and present market trends, the reduction factor of 20% will be appropriate. They are discounting the above market value by 20 % Hence, Forced/ Distress sale value as on date = Fair Market Value as on date x 0.80 = Rs. 30.300 x 0.80 = Rs. 24.240 Million Say Rs. 24.200 Million |
|
|
|
|
Sources of information for arriving at the forced sale value |
By local inquiries with builders and estate agents |
|
|
|
|
TECHNICAL DETAILS |
|
|
|
|
|
Type of construction |
RCC framed structure |
|
|
|
|
Completion status |
Completed |
|
|
|
|
No. of stories |
Ground + 5 upper floors |
|
|
|
|
Type of foundation |
RCC foundation |
|
|
|
|
Superstructure walls |
Masonry walls |
|
|
|
|
Internal finish |
Cement mortar plaster |
|
|
|
|
External finish |
Cement mortar plaster |
|
|
|
|
Type of flooring |
Vitrified ceramic tiles flooring |
|
|
|
|
Type of roof |
R.C.C. Slab |
|
|
|
|
Type of Paint |
Oil bounded distemper paint internally |
|
|
|
|
Electrification |
Concealed wiring with standard quality electrical fittings |
|
|
|
|
Plumbing |
Concealed plumbing with standard quality sanitary fixtures |
|
|
|
|
Bathroom details |
Ceramic tiles flooring with glazed sliding windows |
|
|
|
|
Door details |
-- |
|
|
|
|
Window details |
Aluminium frame glazed sliding windows |
|
|
|
|
Overall appearance |
Good |
|
|
|
|
Architectural quality |
Good as per visual inspection |
|
|
|
|
Other details |
The flat is having internal height of 9’ 6” approx. and it is provided with black granite kitchen platform with glazed tiles dado upto full height. Also the building is bounded by 6 ft masonry compound wall |
|
|
|
|
Special amenities |
The building and complex is having amenities such as lift, open parking spaces, security services, etc. |
------------------------------------------------------------------------------------------------------------------------------
PROFILE
Subject a partnership firm on 30th October, 1996 by Mr. Bipin Jethalal Mehta and Mrs. Neeta Bipin Mehta. The firm is engaged in sales and export of cut and polished diamonds. The partners are having long standing experience in the line of activity. The firm is a member of the Gems and Jewellery export promotion council.
The partners being in the business successfully for 19 years are well versed with the nuances of the industry and select their customers through process of careful due diligence thus mitigating counter-party risk.
PROMOTERS AND
MANAGEMENT ANALYSIS
Mr. Bipin Jethalal Mehta and Mrs. Neeta Bipin Mehta are the partners of the firm and their share of profit/ loss are under:
|
Name of Partner |
Share of Profit/
Loss |
|
|
|
|
Mr. Bipin Jethalal Mehta (Date of Birth: 28.02.1955 – 60 Years) |
45% |
|
|
|
|
Mrs. Neeta Bipin Mehta (Date of Birth: 08-08-1959 – 55 Years) |
55% |
|
|
|
|
Total |
100.00% |
The partners of the firm are family members and have adequate experience in this line. Mr. Bipin Jethalal Mehta (Engineer), aged 60 Years, is having experience of more than 35 years in the field of diamond manufacturing and trading. He is mainly responsible for the purchasing activities. He has been purchasing rough diamond from different parties. He reviews the orders received from customers to confirm quality, availability, pricing and other commercial terms.
Mrs. Neeta Bipin Jethalal Mehta (B.A.), aged 55 years, is wife of Bipin Jethalal Mehta. She looks after the day to day activities of the firm and helping in Assortment and administration of the firm.
The partners possess good knowledge of the diamond business and are well experienced in the line of activity. Overall, the quality of management is considered satisfactory.
------------------------------------------------------------------------------------------------------------------------------
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem and Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
TRADE REFERENCE
· Vishal Enterprises
· Urvashi Exports
FIXED ASSETS
· Bharat Diamond Bourse
· Metler Carat Bal.
· Motor Car
· Air Conditions
· Fax Machine
· Safe
· Mobile Cell
------------------------------------------------------------------------------------------------------------------------------
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 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.62.37 |
|
UK Pound |
1 |
Rs.92.44 |
|
Euro |
1 |
Rs.66.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--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.