MIRA INFORM REPORT

 

 

Report No. :

357147

Report Date :

28.12.2015

 

IDENTIFICATION DETAILS

 

Name :

SHREE RSH PROJECTS PRIVATE LIMITED

 

 

Registered Office :

Fort Lee - I, Unit – 006, 20, O. C. Ganguly Sarani, Kolkata – 700020, West Bengal

Tel. No.:

91-33-40509999

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

09.04.2010

 

 

Com. Reg. No.:

21-145024

 

 

Capital Investment / Paid-up Capital :

Rs.0.100 Million

 

 

CIN No.:

[Company Identification No.]

U45200WB2010PTC145024

 

 

IEC No.:

Not Applicable (As claimed by company management that company does not export and import)

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

The subject engaged into real estate. (Confirmed by management)

 

 

No. of Employees :

25  (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (14)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 2010 having moderate track.

 

It is engaged in real estate business.

 

The company has not commenced with its business operation. It has only earned other income during the year under a review.

 

The company has huge accumulated losses which exceeds net worth. Further, the borrowings recorded by the company are huge.

 

Their business is active. Payments are unknown.

                      

The company can be considered for business dealings on safe and secured terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

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 31-03-2015.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Ms. Sunita Ray

Designation :

Senior Executive

Contact No.:

91-33-40509999

Date :

26.12.2015

 

 

 

LOCATIONS

 

Registered Office :

Fort Lee - I, Unit – 006, 20, O. C. Ganguly Sarani, Kolkata – 700020, West Bengal, India

Tel. No.:

91-33-40509999

Fax No.:

Not Available

E-Mail :

ops@shreershgroup.com

Website :

www.shreershgroup.com

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mr. Mrinal Nandi

Designation :

Director

Address :

13, Bank Colony, Dhakuria, Kolkata - 700031, West Bengal, India

Date of Birth/Age :

15.05.1961

Date of Appointment :

21.04.2010

DIN No.:

00407814

 

 

Name :

Mr. Hari Prasad Sharma

Designation :

Director

Address :

Flat 501, Block-E, 20 O. C. Ganguly Sarani, Kolkata - 700020, West Bengal, India

Date of Birth/Age :

27.05.1966

Date of Appointment :

09.04.2010

DIN No.:

00600853

 

 

KEY EXECUTIVES

 

Name :

Ms. Sunita Ray

Designation :

Senior Executive

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2015

 

Names of Shareholders

No. of Shares

%age holding

Hari Prasad Sharma

9000

90.00

Mrinal Nandi

1000

10.00

Total

10000

100.00

 

 

AS ON 30.09.2015

 

Names of Shareholders

No. of Shares

Hari Prasad Sharma

3140000

Amrit Pizza Private Limited, India

1450000

Grower Distributor Private Limited, India

1450000

Sugan Leasing Private Limited, India

1450000

Total

7490000

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 26.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

The subject engaged into real estate. (Confirmed by management)

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash and Cheque

 

 

Purchasing :

Cash and Cheque

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

25 (Approximately)

 

 

Bankers :

Banker Name

Axis Bank Limited

Branch Address

Corporate Banking Branch, 3rd Floor, Ac Market, 1 Shakespeare Sarani, Kolkata -700071, West Bengal, India 

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

From Bank

ICICI Bank Limited

5.335

0.000

Total

5.335

0.000

 

Auditors :

 

Name :

Ashok Kumar Duggar and Associates

Chartered Accountant

Address :

507 Marshall House, 33/1 Netaji Subhas Road, Kolkata – 700001, India

Tel. No.:

91-33-22306238

Fax No.:

91-33-22303485

E-Mail :

Akduggar_co@rediffmail.com

PAN N Income-tax PAN of auditor or auditor's firm :

AAIFA2371A

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Related party :

Sugan Leasing private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

7500000

Equity Shares

Rs.10/- each

Rs. 75.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

7500000

Equity Shares

Rs.10/- each

Rs. 75.000 Million

 

 

 

 

 

 

AS ON 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Equity Shares

Rs.10/- each

Rs. 0.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

Rs.10/- each

Rs. 0.100 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

0.100

0.100

0.100

(b) Reserves & Surplus

(3.892)

(5.423)

(4.951)

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

(3.792)

(5.323)

(4.851)

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

70.985

99.650

101.552

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

70.985

99.650

101.552

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

92.000

10.000

0.000

(b) Trade payables

0.398

0.129

0.077

(c) Other current liabilities

131.480

0.943

9.488

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

223.878

11.072

9.565

 

 

 

 

TOTAL

291.071

105.399

106.266

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

13.205

10.088

13.038

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

2.730

2.730

2.730

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

51.971

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

67.906

12.818

15.768

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

210.051

84.700

82.542

(c) Trade receivables

0.000

3.297

1.517

(d) Cash and cash equivalents

2.115

1.522

4.046

(e) Short-term loans and advances

10.031

2.185

2.188

(f) Other current assets

0.968

0.877

0.205

Total Current Assets

223.165

92.581

90.498

 

 

 

 

TOTAL

291.071

105.399

106.266

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

0.000

0.000

NA

 

Other Income

1.970

6.310

NA

 

TOTAL (A)

1.970

6.310

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Employees benefits expense

0.058

1.691

 

 

Other expenses

0.247

2.245

 

 

TOTAL (B)

0.305

3.936

NA

 

 

 

 

 

Less

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

1.665

2.374

 

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

0.010

0.156

 

 

 

 

 

 

 

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

1.655

2.218

 

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

0.124

2.690

 

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

1.531

(0.472)

NA

 

 

 

 

 

Less

TAX (H)

0.000

0.000

 NA

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

1.531

(0.472)

0.531

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

(5.423)

(4.951)

(5.482)

 

 

 

 

 

 

Balance Carried to the B/S

(3.892)

(5.423)

(4.951)

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

153.15

(47.22)

53.13

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

19.328

0.208

2.583

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

NA

NA

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)
0.00

0.00

NA

 

 
 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)
0.00

0.00

NA

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.53

(0.46)

NA

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.40)

0.09

NA

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

(48.08)

(20.64)

(21.47)

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.00

8.36

9.46

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

0.100

0.100

0.100

Reserves & Surplus

(4.951)

(5.423)

(3.892)

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

(4.851)

(5.323)

(3.792)

 

 

 

 

long-term borrowings

101.552

99.650

70.985

Short term borrowings

0.000

10.000

92.000

Current maturities of long-term debts

2.583

0.208

19.328

Total borrowings

104.135

109.858

182.313

Debt/Equity ratio

(21.467)

(20.638)

(48.078)

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

Total Income 

6.310

1.970

 

 

(68.780)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

Total Income 

6.310

1.970

Profit

5.838

3.501

 

92.52%

177.72%

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

From a directors

25.000

32.650

From others

40.650

67.000

SHORT TERM BORROWING

 

 

From bodies corporate

92.000

10.000

Total

157.650

109.650

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10586216

29/06/2015

250,000,000.00

AXIS BANK LIMITED

CORPORATE BANKING BRANCH, 3RD FLOOR, AC MARKET, 1
SHAKESPEARE SARANI, KOLKATA, WEST BENGAL - 700071
, INDIA

C61810941

 

FIXED ASSETS

 

Tangible assets

 

 

Intangible assets

 

 

 

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.66.20

UK Pound

1

Rs.98.30

Euro

1

Rs.72.41

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILITY

1~10

2

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

--

--CREDIT LINES

1~10

--

--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

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

14

 

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

 

--

 

 

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

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