Corporate Money Puts MFs Back on the Growth Path (May'13)
1
16 THE ECONOMIC TIMES | MUMBAI | TUESDAY | 28 MAY 2013 Economy BAKUL CHUGAN TONGIA ET INTELLIGENCE GROUP The crash in the share price of drug mak- er Wockhardt over the last few days may have sent jitters across the investing com- munity. But people who have put money in mutual fund equity schemes needn’t worry since mutual funds hold just a little over 1% in this stock at the end of March 2013 quarter. Recently, the United States Food & Drug Administration (US FDA) had imposed a ban on imports from Wockhardt’s Aura- nagabad factory in Maharashtra, citing quality concerns of drugs made at this plant, which led to a sharp fall of this stock in the past couple of trading sessions. What’s comforting for investors though is that only 12 of the 40-odd mu- tual fund houses had invested in Wock- hardt at the end of FY13, and even those that did, held a fairly small percentage in this stock. Also, many fund managers in recent times have been skeptical of the Wockhardt stock. The scrip gained over 150% to jump from . `823 in June last year to . `2,114 in March this year. Mahesh Patil CIO, Birla Sun Life, said, “By and large, pharma stocks have done reasonably well over the past few years, but one needs to be cautious of the kind of stocks one chooses to in- vest in the sector as some counters have known to be inherently volatile.” Another leading fund manager of the industry, who preferred anonymi- ty, said that they have been avoiding stocks like Wockhardt and Ranbaxy given their over-depend- ence on just a few drugs, which makes investment in these counters a bit risky. He added that he would rather prefer stocks with stable businesses such as Dr Reddy’s, Sun Pharma, Lu- pin, Ipca and Cipla. “Within the pharma space, there are FMCG-type of stocks with stable growth businesses as well as stocks with aggres- sive growth models that are high on risk. Our concentration in this sector has been on stocks with stable growth-orient- ed businesses,” said Anand Shah, CIO, BNP Paribas Mutual Fund. Some of the fund houses that took a hit because of the Wockhardt crash include SBI, IDFC and DSP that had held about 4.39 lakh, 4.22 lakh and 99,000 shares, respectively, at the end of April this year. Some of these fund managers believe that the downside may now be limited given the company’s strong business model. Others have, however, chosen to exit the counter com- pletely to avoid further losses. Therefore, the mutual fund shareholding in Wockhardt is expected to fall signifi- cantly in the coming months. It would be interesting to see how foreign institution- al investors (FIIs) tackle the situation: FII shareholding in Wockhardt has increased sharply from 3.15% in March 2012 to 9.07% in March 2013 quarter. [email protected] Wockhardt Crash Won’t Hit MF Investors Mutual funds held just a little over 1% in this stock at the end of March ’13 quarter JOHN SAMUEL RAJA D & REENA ZACHARIAH NEW DELHI | MUMBAI I nitial signs of a reversal in the interest rate cycle have come as a shot in the arm for the Indian mutual fund indus- try, which is seeing corporate money gush into debt funds. Reversing two suc- cessive years of decline in assets under management (AUMs), during the year to March 31, 2013, the AUMs of the 59 fund houses shot up by . `76,500 crore, a year-on- year increase of 19.5%. The AUMs drop- ped 1.6% and 2.9%, respectively, in the preceding two years. Most, if not all, of the latest increase can be attributed to corporate investors park- ing money in debt funds to profit from the inverse relationship between interest rates and bond prices. When interest rates fall, as they currently have, bond prices rise, and the resultant capital-apprecia- tion adds a kicker to returns from debt funds. “Returns on longer-term debt funds are likely to be reasonably high for a period of at least a year or so,” says N Seth- uraman Iyer, CEO of Daiwa Mutual Fund. “Therefore, interest in them is likely to continue in the medium-term from both corporates and retail investors.” Since March 2012, India’s central bank has reduced the repo rate — the rate at which the Reserve Bank of India (RBI) lends to commercial banks and a key signal for interest rates — to 7.25%, from 8.5%. As a result, over a trailing one- year period, the top 10 returns of open- ended debt funds have ranged between 17.8% and 19.1%, according to data from Value Research, an independent re- search house that tracks the industry. During the same period, a one-year fixed deposit has offered 8.5-9%. Dhirendra Kumar, chief executive offi- cer of Value Research, says it is not just opportunism that is pushing corporate money into debt funds; there is also the paucity of options to deploy their cash. “Corporates have not been able to invest in projects for expanding their business and are deploying their money in fixed- income funds,” he says. “Corporates like the stability of returns in debt funds as it’s not impacted by volatility of withdrawals or inflows.” According to the ETIG Database, as of March 31, 2012, the latest available for a large set, the cash balance of 6,202 com- panies stood at . `15,41,361 crore. Data from the Reserve Bank of India (RBI) al- so reveals that the number of institution- ally-assisted projects and amount fund- ed declined sharply to 63 with an estimated cost of . `14,500 crore as on De- cember 2012, as compared to 181 projects and . `1,25,000 crore as on June 2010. Kumar says that another factor fuelling the inflow is direct access to MFs. Begin- ning January, the capital market regula- tor, Sebi allowed investors to directly ac- cess mutual funds, bypassing intermediaries to whom they would have had to pay a commission of 2.25-2.5%, eat- ing into their returns. “Around 80% of fund inflows since January have come via direct access,” says Kumar. While the deluge is a sparkling short-term gain for the industry — income of fund houses is directly linked to AUM — a central long- term issue for the industry remains. Cor- porate money is ‘smart money’ and can leave with the same speed as it came in. The more sticky money comes from re- tail investors, and they had not bought in- to the rally in debt funds with the same fervour. [email protected] Corporate Money Puts MFs Back on the Growth Path AUM of 59 fund houses shoot up by . `76,500 cr in FY13 after 2 consecutive years of decline Ups & Downs Mar ’10 Mar ’11 Mar ’12 Mar ’13 614,546 596,977 587,659 702,494 Assets are growing again… AUM (` cr) Small investors …but much of the spike is ‘smart money’ flowing into debt funds -4.9% Source: Association of Mutual Funds in India Change in folios (between Oct 2012 & Mar 2013) Corporate 31.9% HNIs 4.7% EARN Rs.40000/- or more monthly in share/commodi ty mkt always. Contact : Vikas - 09808809733 & 0827343 9728, www.aastha786.com LOAN available for pur- chase of New Machine from Rs.10 Lacs and Above for ex- panding your Existing Busi- ness.For more Details Cont: 02228524122 / 02228504034 BUSINESS opportunity from MNC. Earn Extra Inco- me Working Part/Full Time. Training & Support Provi- ded. call:- Phadke- 9324295438. LEARN Intraday Trade sec- ret formulaes useful for Equ- ity, Nifty, Future Options at LJ Training Center, Dadar (W) Sat/Sun 11am. 9922947911 FOR Sale 1. HDPE Black Pipe, Brand New : Parixit Make, 200mm Diameter, 4 kg pressure, 3000 Meter 2. Fur- nace Oil Fired Hot Air Gener- ator 15-20 lac kcal/hr capac- ity 3. Coal Fired Thermo- pack Boiler 4 lac kcal/hr ca- pacity 4. 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FIRST SCHEDULE OF OF THE PROPERTY ABOVE REFERRED TO t .LLTHAT all that piece and parcel Df freehold land or ground adnieasuring i .e. 3501.1 sq. metres xthereabouts as per City Survey Records and bearingSurvey No.11 Flissa 2 (part) and corresponding TS Nos.35A of Village Tungva , laluka Kurla , Wumbai Suburban District, situate, lying and being at 3 i PasalkarMatig, Satr-Vi,arLake ROadr Tu1gV3V hg Kurla (West), Mumbai 400072 togetherwith the ights and benefits in respect ot setback portion bearing CTS No. 358 admeasuring 517.4 sq.mts. or hereeboutssurrandaredto 9MG as ailing within set back line in the Registration District Mumbai Suburban and Sub Dtrtr oiBandra and bounded asfolows: Dn the North and West by: Property of Savitaben Choksey Dn the South by: Property o Santdas Kniplani Dn the East by: Saki Vihar Road SECOND SCHEDULE OF ThE PROPERTYABOVE REFERRED TO LL THOSE pieces or parcels o and or ground situate, lying and 5eing at Village Tungva, Taluka : Kurla Mumbai Suburban District iearing Survey No. 11 Hissa No. 2 (part) together with Chawl iearing Municipal No.1-4565 (5) standing thereon and together Nith the Flour Mill standing Lhereon and sheds standing Lhereon and bearing CTS No, 36, 36/1 to 3 and land bearing CTS ‘lo. 37, 37/1 to 8, admeasuring in aggregate to 320 sq. mtrs. or exestx utsand bounded asfotows: Dn the North by: CTS No. 35A Dn the South by:GTS No. 35C Dn the East by: Saki Vihar Road Dn the West by: CTS No.35A THIRD SCHEDULE OF THE PROPERTY ABOVE REFERRED TO LL THAT piece and parcel o and beartng Survey No.11, lissa Nlo.2 (part), bearing C.T.S. 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Corporate Money Puts MFs Back on the Growth Path (May'13)
Transcript of Corporate Money Puts MFs Back on the Growth Path (May'13)
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16THE ECONOMIC TIMES | MUMBAI | TUESDAY | 28 MAY 2013Economy
BAKUL CHUGAN TONGIAET INTELLIGENCE GROUP
The crash in the share price of drug mak-er Wockhardt over the last few days mayhave sent jitters across the investing com-munity. But people who have put moneyin mutual fund equity schemes needntworry since mutual funds hold just a littleover 1% in this stock at the end of March2013 quarter.
Recently, the United States Food & DrugAdministration (US FDA) had imposed aban on imports from Wockhardts Aura-nagabad factory in Maharashtra, citingquality concerns of drugs made at thisplant, which led to a sharp fall of this stockin the past couple of trading sessions.
Whats comforting for investorsthough is that only 12 of the 40-odd mu-tual fund houses had invested in Wock-hardt at the end of FY13, and even thosethat did, held a fairly small percentage inthis stock. Also, many fund managers inrecent times have been skeptical of theWockhardt stock. The scrip gained over
150% to jump from .` 823 in June last yearto .` 2,114 in March this year.
Mahesh Patil CIO, Birla Sun Life, said,By and large, pharma stocks have donereasonably well over the past few years,but one needs to be cautious of the kind of
stocks one chooses to in-vest in the sector as somecounters have known tobe inherently volatile.
Another leading fundmanager of the industry,who preferred anonymi-ty, said that they havebeen avoiding stocks likeWockhardt and Ranbaxygiven their over-depend-ence on just a few drugs,which makes investmentin these counters a bit
risky. He added that he would ratherprefer stocks with stable businessessuch as Dr Reddys, Sun Pharma, Lu-pin, Ipca and Cipla.
Within the pharma space, there areFMCG-type of stocks with stable growth
businesses as well as stocks with aggres-sive growth models that are high on risk.Our concentration in this sector hasbeen on stocks with stable growth-orient-ed businesses, said Anand Shah, CIO,BNP Paribas Mutual Fund. Some of thefund houses that took a hit because of theWockhardt crash include SBI, IDFC andDSP that had held about 4.39 lakh, 4.22lakh and 99,000 shares, respectively, atthe end of April this year. Some of thesefund managers believe that the downsidemay now be limited given the companysstrong business model. Others have,however, chosen to exit the counter com-pletely to avoid further losses.
Therefore, the mutual fund shareholdingin Wockhardt is expected to fall signifi-cantly in the coming months. It would beinteresting to see how foreign institution-al investors (FIIs) tackle the situation: FIIshareholding in Wockhardt has increasedsharply from 3.15% in March 2012 to 9.07%in March 2013 quarter.
Wockhardt Crash Wont Hit MF Investors
Mutual fundsheld just alittle over 1%in this stockat the end ofMarch 13quarter
JOHN SAMUEL RAJA D & REENA ZACHARIAHNEW DELHI | MUMBAI
Initial signs of a reversal in the interestrate cycle have come as a shot in thearm for the Indian mutual fund indus-
try, which is seeing corporate moneygush into debt funds. Reversing two suc-cessive years of decline in assets undermanagement (AUMs), during the year toMarch 31, 2013, the AUMs of the 59 fundhouses shot up by .` 76,500 crore, a year-on-year increase of 19.5%. The AUMs drop-ped 1.6% and 2.9%, respectively, in thepreceding two years.
Most, if not all, of the latest increase canbe attributed to corporate investors park-ing money in debt funds to profit from theinverse relationship between interestrates and bond prices. When interest ratesfall, as they currently have, bond pricesrise, and the resultant capital-apprecia-tion adds a kicker to returns from debtfunds. Returns on longer-term debtfunds are likely to be reasonably high for aperiod of at least a year or so, says N Seth-uraman Iyer, CEO of Daiwa Mutual Fund.Therefore, interest in them is likely tocontinue in the medium-term from bothcorporates and retail investors.
Since March 2012, Indias central bank
has reduced the repo rate the rate atwhich the Reserve Bank of India (RBI)lends to commercial banks and a keysignal for interest rates to 7.25%, from8.5%. As a result, over a trailing one-year period, the top 10 returns of open-ended debt funds have ranged between17.8% and 19.1%, according to data fromValue Research, an independent re-search house that tracks the industry.During the same period, a one-yearfixed deposit has offered 8.5-9%.
Dhirendra Kumar, chief executive offi-cer of Value Research, says it is not justopportunism that is pushing corporatemoney into debt funds; there is also thepaucity of options to deploy their cash.Corporates have not been able to investin projects for expanding their businessand are deploying their money in fixed-income funds, he says. Corporateslike the stability of returns in debtfunds as its not impacted by volatility ofwithdrawals or inflows.
According to the ETIG Database, as ofMarch 31, 2012, the latest available for alarge set, the cash balance of 6,202 com-panies stood at .` 15,41,361 crore. Datafrom the Reserve Bank of India (RBI) al-so reveals that the number of institution-ally-assisted projects and amount fund-ed declined sharply to 63 with anestimated cost of .` 14,500 crore as on De-cember 2012, as compared to 181 projectsand .` 1,25,000 crore as on June 2010.
Kumar says that another factor fuellingthe inflow is direct access to MFs. Begin-ning January, the capital market regula-tor, Sebi allowed investors to directly ac-cess mutual funds, bypassingintermediaries to whom they would have
had to pay a commission of 2.25-2.5%, eat-ing into their returns. Around 80% offund inflows since January have comevia direct access, says Kumar. While thedeluge is a sparkling short-term gain forthe industry income of fund houses isdirectly linked to AUM a central long-term issue for the industry remains. Cor-porate money is smart money and canleave with the same speed as it came in.
The more sticky money comes from re-tail investors, and they had not bought in-to the rally in debt funds with the samefervour.
Corporate Money Puts MFsBack on the Growth PathAUM of 59 fund houses
shoot up by .` 76,500 cr in
FY13 after 2 consecutive
years of decline
Ups & Downs
Mar 10
Mar 11
Mar 12
Mar 13
614,546
596,977
587,659
702,494
Assets are growing againAUM (` cr)
Small investors
but much of the spike is smart
money flowing into debt funds
-4.9%
Source: Association of Mutual Funds in India
Change in folios (between Oct 2012 & Mar 2013)
Corporate
31.9%HNIs
4.7%
EARN Rs.40000/- or moremonthly in share/commodity mkt always. Contact :Vikas - 09808809733 & 08273439728, www.aastha786.com
LOAN available for pur-chase of New Machine fromRs.10 Lacs and Above for ex-panding your Existing Busi-ness.For more Details Cont:02228524122 / 02228504034
BUSINESS opportunityfrom MNC. Earn Extra Inco-me Working Part/Full Time.Training & Support Provi-ded. call:- Phadke- 9324295438.
LEARN Intraday Trade sec-ret formulaes useful for Equ-ity, Nifty, Future Options atLJ Training Center, Dadar(W) Sat/Sun 11am. 9922947911
FOR Sale 1. HDPE BlackPipe, Brand New : ParixitMake, 200mm Diameter, 4 kgpressure, 3000 Meter 2. Fur-nace Oil Fired Hot Air Gener-ator 15-20 lac kcal/hr capac-ity 3. Coal Fired Thermo-pack Boiler 4 lac kcal/hr ca-pacity 4. Mild Steel Auto-claves of various sizes avail-able Call: 099099-09101,Email: [email protected]
WEST INDIA
WEST INDIA
BUSINESS PROPOSALS
BUSINESS PROPOSALS
LOANS
STOCKS & SHARES
SERVICE SOLUTIONS
ADMISSIONS
EDUCATIONFOR OTHERS
ANDHERI
POWAI
FOR SALE
TO LET
ACCOMMODATIONAVAILABLE
COMMERCIAL PREMISES
FOREIGNPROPERTIES
INDUSTRIAL PREMISES
PROPERTY - OTHERS
SALES
SITUATIONS VACANT
MARKETING & SALES
WEST INDIA
LEGAL NOTICES
PUBLIC NOTICE
TOURS & TRAVELS
LW - Leaders in Management TrainingSeminars for Executives during June, 2013
Supply Chain Management TthJune13 Bangalore
(including Demand Forecasting) une ow 0
2lthJunegl3 Mumbal
Building & Executing Corporate 8th June13 BangaioreStrategy : Practical Guide to Making 15th June13 New DelhiWinning Business Plans 22June1 3 Mumbai
Project Finance 2O June13 Mumbai
How to Raise & Manage ?
Project Management : How to pian 15thJune13 New Doihi
& Execute Projects succesfuiiy ? 21thJune13 Mumbai
Become A A Super Saies Man I Woma l4thJune13 New Deihi- Seiiing Skiiis to increase Your Seiiing 20th June13 Mumbai
Power & Profit Potential
Corporate & Business Etiquette 15thJune13 New Delhi- Guide for Modern Executives 21thJune13 Mumbal
After I Field Sales Service 22 dJune13 Mumbai- to Retain Customer For Life
For Further Details I Registration :Please send E-mail giving the Participants Names & email ids to
indianacademyvsnl.net OR registrationsindianacademy.org
OR Call lAM on 022-3040 3400 & 9820225561Website : www.indianacademy.org
Au the above programmes are aiso available on in - Company basis.if you have 10 or more participants, piease contact us for detaiis. *Source: IRS 2012 Q3to 04
Maharashtra s Time...is now. To build on its leadership and soar. And that is exactl y what the young,vibrant and upwardly mobile Maharashtra is doing in its its top 6 cities. Mumbai,
Pune, Nashik , Aurangabad. Nagpur and Koihapur. Giving this buzzing,
upmarket Maharashtra its voice, its choice and its its dreams is the states rapidlygrowing premium Marathi daily...
Maharashtra Times !Riding on its popularity amongst the upmarket urban readers, Maharashtra Times
has added 56 ,000 readers in SEC AB Category, growing by 30% more than its
nearest competitor.
Mumbai Pune Nashik Aurangabad Nagpur KoihapurTCne
PRINT + ONLINE
wwwtcnext.com
TIMESCLASS1FIEDS small is the new BIG
triaI Gds
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Sales Managers &Sales Executives
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Requirements.Minimum Graduate
Good EnglishSpeaking and Writing
SkillsComputer Proliciency
Contact at EmailAddress
[ntments
RUUNNIN G CANDLE &HOME DfICOR BUSINESSFOR SALE CONTACT:9 8 2 0 0 4 0 3 7 7 . E M A I L :ritualswaxskffls@gmail .com
HIGH Fashion ManufacturingCo . needs Financial Partnerto l aunch Own B r a n d sglobally . Call: 08976100923Email: sanj ay@ssclo thingco.in
WANTED Distributorship //C&F agency for Chemical ,Industrial Products , etc . WellExpd trained staff in MarketingI Handling. Mail with Proposalto:- [email protected]
PUBLIC NOTICEN O T I C E is h e r e b y
given that our client isinvestigating the title of
M/ S . S U A S i O N SA D V E R T I S I N G &
MARKETING PVT. LTD. tothe under mentionedproperty, and intending topurchase the same, freefrom any encumbrance ,charge , lien , claim , right orany other interest ofwhatsoever nature of anyone overthe same .
FURTHER NOTICE is
given that fo l lowingor ig ina l documents(hereinafter referred to asthe said Agreements )have been lost by the M/S.SUASIONS ADVERTISING
& MARKETING PVT. LTD .,namely,
1.Agreement dated25th Marc h, 1991 betweenAmar Deve lopmen tCorporation and Mr. M.L.Ranjit and Mrs . SumanRan jit .
2 .Agreement dated25th Marc h, 1992 between(i)Mr. M.L. Ranjit (ii)Mrs.Suman Ran j i t andSuasions Advertising &Marketing Pvt . Ltd.,Mumbai .
3.Ag reement dated 6thA p r i l , 1992 betweenSuasions Advertising &Marketing Pvt. Ltd. andMrs . K a s h m i r a SamBharucha .
If any persons or
institutions claim tohave any c h a r g e ,e n c u m b r a n c e , right ,interest or entitlement ofwhatsoeve r nature overthe said property or anypart thereof or on the saidAgreements , they shouldmake known the same inwriting to the undersignedat their office at 305-9,Neelkanth , 98, Mar ineDrive , Mumbai 400 002 ,within 15 days fro m thedate of publication of thisnotice , fa i l ing which thetransaction shall bec o m p l e t e d w i t hou treference to any suchclaim , r i gh t , interest ,charge , encumbrance ora n y o t h e r r i g h t o r
entitlement of whatevernature of anyone .
DESCRIPTION OFTHE PROPERTY
5 shares of Rs.50/-bear ing d i s t i nc t i venumbers 51 to 55 underShare Certificate No. 11dated 29th August , 1998issued by the AmerchandM a n s i o n Co - opera t iveHousing Society Limitedand Flat No. C-4 as per thetitle documents (and lateron the Flat No . wasamended to C-5 by theSociety) admeasuring1400 sq . feet (built up)together with attachedterrace admeasuring 2000sq . feet sq. ft. on the 4thfloor (top floor) togetherwith one car parking spaceno. 3 in the compound ofthe building named andknown as Amarchand
Mansion situated at 16,Madame Cama Road ,Mumbai -400001 , bearingCadastral / / City Survey no.27 of Fort Division ,Mumbai
Date : 28//05//201 3.
ForD. M. Harish & Co.Advocates
305-09, Neelkanth ,98, Marine Drive ,
Mumbai-400 002.
THE TIMES
Readers are recommended to makeappropriate enquirea and leek appropriateadvice before sending ,noney. InHAling anye x p e n s e s, ac t i ng on med i c .r000mmendetlono or entering Into anycommdment in relaUxn to any adveritsement
5to
made by the Mvertse,s of p,odccts andservices. The Printer. Publisher, Editor andOwners of The lirnew Of India Grou ppublications shall not be held liable for anyconsequences, In the event 1501, daIms areflothonaured bythaMvethsats.
Our client BetterSuilders Infrastructure Pvt. Ltdhaving its registered office at 515Mathuradas Estate, St. AnthonyStreet , Kalina, Mumbai 400098as approached us to issue titleertificate in respect of the belowmentioned scheduled property.
Notice is hereby ven that allcrsonsconcerncd havinganyriittie, intademorthmM,wh HEy way of sale, transfer, exchange,
assignment, gfl, bequest, rnuigage,arge, lius covenant, possesston,ease, sub-lease, tenancy, lien
the property described in theS . tsl wcraiy patorp]Ikslhereof, indudinganypremes intheuildingslsfauctures standing onthi
p.ofert shoid inbrntheesnetoiaMttiin 14 days from the data olubiceliai of lIsnotiw, failngwticti
e will proceed to tesue our titlehcatew referencetosucl,
igl* itfle,inte1m daimcrdemand,and the same , if any, shall be v aia rr
Picasewitetotheundersi,ed insealed envelope marked Paiijal
Towers enclosing certified trueopiesof all dccumers h support cyourdaim. The tenantaloccupantsneed not respond to th Notice.FIRST SCHEDULE OF OF THE
PROPERTY ABOVE
REFERRED TO
t.LLTHAT all that piece and parcelDf freehold land or groundadnieasuring i.e. 3501.1 sq. metresxthereabouts as per City SurveyRecords and bearingSurvey No.11Flissa 2 (part) and correspondingTS Nos.35A of Village Tungva,laluka Kurla, Wumbai SuburbanDistrict, situate, lying and being at3i PasalkarMatig, Satr-Vi,arLakeROadr Tu1gV3Vhg Kurla (West),Mumbai 400072 togetherwith theights and benefits in respect otsetback portion bearing CTS No.358 admeasuring 517.4 sq.mts. orhereeboutssurrandaredto 9MG asailing within set back line in theRegistration District MumbaiSuburban and Sub Dtrtr oiBandraand bounded asfolows:Dn the North and West by:Property of Savitaben ChokseyDn the South by: Property oSantdas KniplaniDn the East by: Saki Vihar Road
SECOND SCHEDULE OF
ThE PROPERTYABOVE
REFERRED TO
LL THOSE pieces or parcels oand or ground situate, lying and5eing at Village Tungva, Taluka :Kurla Mumbai Suburban Districtiearing Survey No. 11 Hissa No.2 (part) together with Chawliearing Municipal No.1-4565 (5)standing thereon and togetherNith the Flour Mill standingLhereon and sheds standingLhereon and bearing CTS No, 36,36/1 to 3 and land bearing CTSlo. 37, 37/1 to 8, admeasuring inaggregate to 320 sq. mtrs. orexestxutsand bounded asfotows:Dn the North by: CTS No. 35ADn the South by:GTS No. 35CDn the East by: Saki Vihar RoadDn the West by: CTS No.35A
THIRD SCHEDULE OF
THE PROPERTY ABOVE
REFERRED TO
LL THAT piece and parcel oand beartng Survey No.11, lissaNlo.2 (part), bearing C.T.S. No.36/3 admeasuring 72.2 sq. mtrs.r thereabout situate, lying and
being at Village Tungva, Taluka:Kurla, Mumbai Suburban Distliciand bounded asfcllows:30 the North by: CTS No.36 , 36Dn the South by: CTS No. 35CDn the East by: Saki Vihar RoadDn the West by: CTS No.35ADate: 28-05-2013Place:Mumbai
For R & G Associa tesSdI-
Deepali ThakorPartner, Advocates
201(202, Mistry Mansion 107,M. (It Road, Fort, Murnbai-400001
Email:and.g.associatesl2gmail.ccn
STUDIO Apartment For SaleNear London From 40 laosOnwards Rental 9% P.APanjwani:-09870004338. Suki:-09619444245 www.seerreslty.in
USA, dakota state , land of oilreserves , rental return of 14%pa for 5 years gurantee, for salemini hotel rooms / / studioapartments for sale for $ 57,500or 32 l a k s o n w a r d s .Call Panjwani - 9870004338.
INDU STRIAL PLOT FORSALE AT MIDC MAHADAREA: 5 ACRES , ZONE: EN-GINEERING FOR DETAILSCall: Anil Thakur: 098338 34427
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NABIMAN Point Free PressHouse, Ownership/ Lease Area2000 with pparking, sea facing,Reasonable price , Spot possession: 9821074887, 9819057621
Fully Furnished Office inKaiina CST Road
5,000 & 10 ,000Feet Built-up Area
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GROUND FLOOR SHOPON LAMINGTO N RD
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Fantastic frontage of
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Cont act-
9987595305
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RAHEJA CLASSIQUE4 BHK FullyFurnished!
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Piion
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HIMACHA L 24,750 for 6 DaysIN: Chandigarh IN: Shimla3N: Manali
KERAI.A24,75O for 6 Days
IN: Cochin 2N: MunnariN: Thekkady iN: Alappuzha
BANGALOHE24,75O for 6 Days
IN: Bangalore 2N: Mysore 2N: Ooty
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Contact: 022-4210 7777Mr. Manish Agarwal:
9820188563
ADMISSION OPEN 2013. 14T I
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SAiRAM EDUCATIONALCONSULTANT
604. God Gift Tower . S.V.Hoad .BandraiW), Mum bai
Tel.: 022.25431903 1 09819118444
Rates Ate Per PersonOn Twin Sharing Basis
Include:Return Airfare
Taxes AccommodationBreakfast & Dinner
All TransfersAll Sightseeing & Excursion
As Per The Itinerary
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