MIRA INFORM REPORT

Report Date :

21.07.2008

IDENTIFICATION DETAILS

Name :	CHUR SYNTHETICS PRIVATE LIMITED
Registered Office :	H. No.1277, Vasai Kharbhav Road, Anjurphata, Bhiwandi, Thane – 401302, Maharashtra
Country :	India
Financials (as on) :	31.03.2008
Date of Incorporation :	08.11.1996
Com. Reg. No.:	11-103857
CIN No.: [Company Identification No.]	U17110MH1996PTC103857
PAN No.: [Permanent Account No.]	AAACC9450D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of Textile Fabrics.

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well – established and reputed company having satisfactory track. Directors are reported as experienced, respectable and having satisfactory means of their own. Trade relations are fair. Business is active. Payments are reported a usually correct and as per commitments. The company can be considering good for normal business dealings at usual trade terms and conditions.

INFORMATION PARTED BY

Name :	Mr. Tushar P. Gosrani
Designation :	Director
Contact No.:	91-9892533777
Date :	18.07.2008

LOCATIONS

Registered Office/ Factory :	H. No.1277, Vasai Kharbhav Road, Anjurphata, Bhiwandi, Thane – 401302, Maharashtra, India
Tel. No.:	91-2522-2082595/ 278099/ 278339
Mobile No.:	91-9867692216
Fax No.:	91-2522-278099
E-Mail :	pkshah_co@yahoo.co.in chursynthetics@gmail.com
Area :	54000 sq. ft.
Location :	Rented
Branch/ Sales Office :	384 – I Dabholkarwadi, Ground Floor, Room No.2, Kalbadevi Road, Mumbai – 400002, Maharashtra, India
Tel. No.:	91-22-66347819/ 22082595
Telefax No.:	91-22-22082595
Fax No.:	91-22-66347819
E-Mail :	chursynthetics@gmail.com
Area :	225 sq. ft.
Location :	Leased

DIRECTORS

Name :	Mr. Chandulal Motichand Shah
Designation :	Director
Address :	601 Supar Shwanath Apartment, Near Sarvodaya Nagar Opposite Jain Temple, Mulund West, Mumbai – 400080, Maharashtra, India
Date of Birth/Age :	18.05.1950
Qualification :	Under Graduate
Experience:	35 years
Date of Appointment :	08.11.1996
PAN No.:	ACJPS3442H
Name :	Mr. Ramniklal Motichand Shah
Designation :	Director
Address :	402, Shanti Apartment, Sarvodaya Nagar Nehru Road, Mulund West, Mumbai – 400080, Maharashtra, India
Date of Birth/Age :	23.03.1945
Qualification :	Under Graduate
Experience:	35 years
Date of Appointment :	08.11.1996
PAN No.:	ACTPS9924N
Name :	Mr. Dinesh Premchand Shah
Designation :	Director
Address :	601 Supar Shwanath Apartment, Near Sarvodaya Nagar Opposite Jain Temple, Mulund West, Mumbai – 400080, Maharashtra, India
Date of Birth/Age :	19.07.1982
Qualification :	Under Graduate
Experience:	12 years
Date of Appointment :	01.10.2004
Name :	Mr. Premchand Motichand Shah
Designation :	Director
Address :	E-34, Indraprasth, Sarvidaya Nagar, Nahur Road, Mulund West, Mumbai – 400080, Maharashtra, India
Date of Birth/Age :	12.08.1956
Qualification :	Under Graduate
Experience:	35 years
Date of Appointment :	15.11.2005
PAN No.:	AAKHS8559Q
Name :	Mr. Tushar Premchand Gosrani
Designation :	Director
Address :	E-34, Indraprasth, Sarvidaya Nagar, Nahur Road, Mulund West, Mumbai – 400080, Maharashtra, India
Date of Birth/Age :	04.05.1985
Qualification :	Graduate
Experience:	4 years
Date of Appointment :	15.11.2005
Name :	Mr. Sanjay Premchand Gosrani
Designation :	Director
Address :	E-34, Indraprasth, Sarvidaya Nagar, Nahur Road, Mulund West, Mumbai – 400080, Maharashtra, India
Date of Birth/Age :	14.11.1983
Qualification :	Graduate
Experience:	6 years
Date of Appointment :	15.11.2005
Name :	Mr. Dinesh Premchand Gosrani
Designation :	Director
Address :	E-34, Indraprasth, Sarvidaya Nagar, Nahur Road, Mulund West, Mumbai – 400080, Maharashtra, India
Date of Birth/Age :	19.07.1982
Date of Appointment :	01.10.2004
PAN No.:	AFPPG8507G
Name :	Mrs. Kasturben R. Shah
Designation :	Director
Address :	402, Shanti Apartment, Sarvodaya Nagar Nehru Road, Mulund West, Mumbai – 400080, Maharashtra, India
PAN No.:	AUAPS1181Q
Name :	Mrs. Kantaben Chandulal Shah
Designation :	Director
Address :	H. No.1277, Vasai Kharbhav Road, Anjurphata, Bhiwandi, Thane – 401302, Maharashtra, India
PAN No.:	ACKPS4587Q
Name :	Mrs. Pushpaben Premchand Shah
Designation :	Director
Address :	H. No.1277, Vasai Kharbhav Road, Anjurphata, Bhiwandi, Thane – 401302, Maharashtra, India
PAN No.:	AJNPS5374F
Name :	Mrs. Dina Dinesh Gosrani
Designation :	Director
Address :	H. No.1277, Vasai Kharbhav Road, Anjurphata, Bhiwandi, Thane – 401302, Maharashtra, India
PAN No.:	AIMPG9248A
Name :	Mr. Tushar P. Gosrani
Designation :	Director
Address :	H. No.1277, Vasai Kharbhav Road, Anjurphata, Bhiwandi, Thane – 401302, Maharashtra, India
PAN No.:	AGQPG5656A

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(As on 17.07.2008)

Names of Shareholders	No. of Shares	Percentage
Mrs. Kanraben C. Shah	20000	2
Mrs. Kasturben R. Shah	150000	15
Mrs. Pushpaben P. Shah	20000	2
Mr. Dinesh P. Gosrani	150000	15
Mr. Sanjay P. Gosrani	20000	2
Mr. Tushar P. Gosrani	20000	2
Mr. Motichand H. Shah	150000	15
Mr. Premchand M. Shah HUF	20000	2
Mr. Premchand M. Shah	150000	15
Mr. Chandulal M. Shah	150000	15
Mr. Ramniklal M. Shah	150000	15
Total	1000000	100.00

(As on 31.03.2007)

Category	Percentage
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing of Textile Fabrics.
Products :	Textile Fabrics
Terms :
Selling :	Credit (20-60 days)
Purchasing :	Credit (60-90 days)

PRODUCTION STATUS

Particulars	Installed Capacity	Actual Production
Fabrics for Sarees, Dress Materials and Garments	25.000 Millions Mtrs P.A.	21.500 Millions Mtrs P.A.

GENERAL INFORMATION

Suppliers :

• Razak and Brothers
• Apar Infotech and Chemicals
• Darshan Corporation
• Deepak Fabrics
• Dhaval Enterprises
• Harsh Chemicals
• J. K. Textile
• Kantilala and Sons
• Kedia Brothers
• Mehta Chemicals
• Mitesh Enterprises
• Nath Industrial Chemicals Limited
• Pure Water Management Private Limited
• Sandeepni Distributer Private Limited
• Saroj Enterprises
• Shanti Textile
• Suresh Enterprises
• T. H/ Textile
• Vishnuram Textile (Private) Limited
• Welspun Syntex Limited

Customers :

Wholesalers, Retailers, Semi – Whole Sellers

• Aashika Sarees Limited
• Ajay Textile
• Amar Enterprises
• Amit Textile
• Ankit Fabrics
• Bijal Textile
• Bhavani Sarees
• C. N. Creation
• D. V. Creation
• Disha Enterprises
• Gala Agency
• Gitesh Textile
• Gokul Synthetics
• Himanshu Textile
• Jalaram Sarees
• K. K. Trading Company
• K. Mart
• Kinjal Collection
• Lalit Textile
• M. M. Textile
• Meena Enterprises
• Suchitra Fab Tex Private Limited
• Swastik Textile
• Uttam and Company
• Vipul Textile
• Zhalak Sarees

No. of Employees :

138 (110 – Factory, 24 – Office and 4 – Branch)

Bankers :

• Corporation Bank

Babu Genu Road, Kalbadevi, Mumbai – 400002, Maharashtra, India

• Indian Bank

Facilities :

Credit Limit Rs.75.000 Millions from Corporations Bank

Secured Loans	31.03.2008 Rs. In Millions
Citicorp Finance (India) Limited	0
Corporation Bank	0
HDFC Bank (New Car Loan)	0
Corporation Bank – Machinery	1.189
Corporation Bank – Machinery	8.396
Corporation Bank – Car	0.441
Corporation Bank – Generator	0.758
Corporation Bank - CC	67.000
Total	77.784
Unsecured Loans
From Directors and Shareholders	35.130

Banking Relations :	Satisfactory
Financial Institutions :	Citicorp Finance (India) Limited 2^nd Floor, Citi Tower, 61 Dr. S. S. Rao Road, Parel, Mumbai – 400012, Maharashtra, India
Auditors :
Name :	Panachand K Shah and Company Chartered Accountant
Address :	203, Shivkripa, Commercial Centre, 4^th Floor, Gokhale Road, Naupada Thane – 400602, Maharashtra, India
Tel. No.:	91-22-25401734/ 25405281
Fax No.:	91-22-25401734
Email :	Pkshah_co@yahoo.co.in
Associates/Subsidiaries :	R. M. Textiles House No.1277, Sonamoti Comp., Vasai Kharbau Road, Bhiwandi – 421302, India (Weaving of Fabric) Dhara Textile House No.1277, Sonamoti Comp., Vasai Kharbau Road, Bhiwandi – 421302, India (Warping Process) S. P. Textile House No.1277, Sonamoti Comp., Vasai Kharbau Road, Bhiwandi – 421302, India (Slitting of Yarn)

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2008	31.03.2007	31.03.2006
SHAREHOLDERS FUNDS
1] Share Capital		10.000	2.500	2.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		12.971	11.519	6.985
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		22.971	14.019	9.485
LOAN FUNDS
1] Secured Loans		77.784	51.162	23.531
2] Unsecured Loans		35.130	36.188	20.600
TOTAL BORROWING		112.914	87.350	44.131
DEFERRED TAX LIABILITIES		2.604	1.342	0.172
TOTAL		138.489	102.711	53.788
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		33.376	20.770	7.254
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	62.115	76.118	54.580
	Sundry Debtors	66.528	56.134	54.708
	Cash & Bank Balances	0.080	0.258	0.536
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	11.156	6.067	2.749
Total Current Assets		139.879	138.577	112.573
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	31.973	55.295	64.396
	Provisions	2.793	1.341	1.643
Total Current Liabilities		34.766	56.636	66.039
Net Current Assets		105.113	81.941	46.534
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		138.489	102.711	53.788

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2008	31.03.2007	31.03.2006
Sales Turnover		412.132	305.492	247.459
Other Income		0.872	22.537	17.420
Total Income		413.004	328.029	264.879
Profit/(Loss) Before Tax		13.008	7.082	4.606
Provision for Taxation		4.055	2.548	1.635
Profit/(Loss) After Tax		8.953	4.534	2.971
Expenditures :
	Cost of Goods Sold	247.795	207.146	174.955
	Administrative Expenses	121.797	99.427	77.235
	Increase/(Decrease) in Finished Goods	14.003	0.000	0.000
	Interest	14.917	13.379	7.779
	Depreciation & Amortization	1.484	0.995	0.303
	Other Expenditure	0.000	0.000	0.000
Total Expenditure		399.996	320.947	260.272

KEY RATIOS

PARTICULARS		31.03.2008	31.03.2007	31.03.2006
PAT / Total Income	(%)	2.17	1.38	1.12
Net Profit Margin (PBT/Sales)	(%)	3.16	2.32	1.86
Return on Total Assets (PBT/Total Assets}	(%)	7.51	4.44	3.84
Return on Investment (ROI) (PBT/Networth)		0.57	0.51	0.49
Debt Equity Ratio (Total Liability/Networth)		6.43	10.27	11.62
Current Ratio (Current Asset/Current Liability)		4.02	2.45	1.70

LOCAL AGENCY FURTHER INFORMATION

Personal Guarantee

In additional to the above, the bank will have the personal guarantee of the directors and owner of the property to the extent of value of property. The net-worth of the guarantors are as under:

Name of the Guarantor		Market Value (Rs. In Millions)
1. Mr. Motichand Shah HUF	Director	5.628
2. Mr. Ramniklal M. Shah	Director	15.537
3. Mrs. Kasturben R. Shah	Director	11.488
4. Mr. Chandulal Shah	Director	13.946
5. Mrs. Kantaben C. Shah	Director	15.000
6. Mr. Premchand M. Shah (HUF)	Director	5.500
7. Mr. Premchand M. Shah	Director	20.117
8. Mrs. Pushpaben Shah	Director	18.506
9. Mr. Dinesh Gorsani	Director	10.570
10. Mrs. Dina Gorsani	Director	6.711
11. Sanjay Gorsani	Director	8.771
12. Mrs. Vibha Gorsani	Director	6.504
13. Mr. Tushar Gorsani	Director	3.172
Total		141.450

OPERATING STATEMENT

[Rs in Millions]

Particulars	31.03.2009 Projection	31.03.2010 Projection	31.03.2011 Projection
1. Gross Sales
Domestic Sales	433.164	459.231	487.503
Exports Sales	-	-	-
Operative Income	-	-	-
Total	433.164	459.231	487.503
2. Less: Excise Duty	-	-	-
3. Net Sales (1-2)	433.164	459.231	487.503
4. % rise [+] or fall [-] in net sales as compared to previous year	5.12%	6.02%	6.16%
5. COST OF SALES
i] Raw Materials [Including stores and other items used in the process of manufacture]	273.194	290.201	308.912
[a] Imported	-	-	-
[b] Indigenous	273.194	290.201	308.912
ii] Other Spares
[a] Imported	-	-	-
[b] Indigenous	-	-	-
iii] Purchases of Goods	-	-	-
iv] Process Charge/ Fuel/ Direct Labour	85.190	89.894	94.347
V] Other Direct Expenses – Power, water	10.576	10.813	11.003
vi] Depreciation	2.144	2.188	2.101
vii] SUB TOTAL [i to iv]	371.104	393.096	416.363
viii] Add : Opening Work – in – process	-	-	-
Sub - Total	371.104	393.096	416.363
ix] Less : Closing Work – in – Process	-	-	-
x] Cost of production	371.104	393.096	416.363
xi] Add : Opening Stock of finished goods	11.186	11.803	12.467
xii] Less: Closing Stock – of - finished goods	11.803	12.467	13.233
xiii] Sub -Total (Total Cost of Sales)	370.487	392.432	415.597
Gross Profit	62.677	66.799	71.906
% To Sales	14.47%	14.55%	14.75%
6. Selling general and administrative expenses	34.109	37.235	41.204
Directs Remuneration	1.800	1.800	1.800
Sales Tax	-	-	-
7. Sub – Total [5+6]	406.396	431.467	458.601
8. Operation profit before interest [3-7]	26.768	27.764	28.902
9. Interest	13.353	12.863	10.827
Interests on working capital	8.901	9.125	8.934
Interests on Car Loan	0.033	0.000	-
Interests on Term Loan	1.271	0.970	0.547
Interests on Quasi Loan	3.148	2.768	1.346
10. Operating profit after interest [8-9]	13.415	14.901	18.075
11. i] Add : other non-operating income
Other Income	0.600	0.600	0.600
Sub – total [Income]	0.600	0.600	0.600
ii] Deduct other non-operating expenses	-	-	-
Earlier Year Adjustment	-	-	-
Others- Preoperative Expenses	-	-	-
Sub total [Expenses]	-	-	-
iii] Net of other non-operating income net of 11 (i) & (ii)	0.600	0.600	0.600
12. Profit before tax / Loss [10+11[iii]]	14.015	15.501	18.675
13. Provision for taxes	4.876	5.392	6.456
14. Net profit / loss	9.139	10.109	12.219
16.CASH PROFIT	11.283	12.297	14.320
19.Profi Before Dep. Interests and Tax	29.512	30.552	31.603
21. Net Profit/ Net Sales (%)	2.11%	2.20%	2.51%
22. Operating Cost/NS (%)	96.92%	97.20%	97.78%
23. PBT/ Sales (%)	3.24%	3.38%	3.83%

ANALYSIS AND BALANCE SHEET

[Rs in Millions]

Liabilities	31.03.2009 Projection	31.03.2010 Projection	31.03.2011 Projection
CURRENT LIABILITIES
01 Short – Term borrowings from banks [including bill purchased, discounted and excess borrowings placed on repayment basis]
I] From Existing Bank	75.000	75.000	75.000
Ii] From Other Banks	-	-	-
Iii] (Of which BP & BD)	-	-	-
Sub Total [A]	75.000	75.000	75.000
02 Sundry creditors [Trade]	23.659	26.019	27.448
03 Sundry creditors (Exp and labour Contract	5.021	5.230	5.350
04 Advance payments from customers  / Deposits from dealers	-	-	-
05 Provision for tax [net of Tax paid]	4.175	4.894	6.107
06 Dividend and Dividend Tax payable	-	-	-
07 Other statutory liabilities [due within one year]	-	-	-
08 Deposits / Installments of term loans / DPGs / debentures, etc [due within one year]	0.311	0.427	-
09 Other current liabilities and provisions [due within one year]	0.000	0.000	0.000
Sub – Total [B]	33.166	36.570	38.905
10 TERM LIABILITIES [Total of 1 to 9]	108.166	111.570	113.905
TERM LIABILITIES
11 Debentures [not maturing within one year]	-	-	-
12 Preference Shares [Redeemable after 1 year]	-	-	-
13 Term loans [Machinery]	9.889	6.000	2.706
14 Deferred Payment Credit	-	-	-
15 Term deposit [repayable after one year]	-	-	-
16 Deferent Tax Liabilities	3.027	3.525	3.874
17 TOTAL TERM LIABILITIES [Total of 11 to 16]	12.916	9.525	6.580
18 TOTAL OUTSIDE LIABILITIES [10 + 17]	121.082	121.095	120.485
NET WORTH
19 Share Capital	10.000	10.000	10.000
20 Quasi Capital	37.000	28.500	19.000
21 Revaluation Reserve	-	-	-
22 Other Reserves [Excluding provisions]	-	-	-
23 Surplus [+] or deficit [-] in Profit and Loss Account	21.728	31.836	44.055
24 NET WORTH	68.728	70.336	73.055
25 TOTAL LIABILITIES [18+24]	189.810	191.432	193.540
CURRENT ASSETS
26 Cash and Bank Balance	0.250	0.275	0.300
27 Investments [Other than long term investments]
I] Government and other Trustee securities	-	-	-
II] Fixed deposit with bank	-	-	-
28 I] Receivables other than deferred and exports [Including bills purchased and discounted by banks]	76.343	77.538	79.252
II] Export receivables [Including bills purchased / discounted by banks]	-	-	-
29 Installments of Deferred  receivables [due within one year]	-	-	-
30 Inventory
I] Raw materials [Including stores and other items used in the process of manufacture]	30.875	31.374	28.346
Imported	-	-	-
Indigenous	30.875	31.374	28.346
II] Work – in – process	23.332	23.814	28.103
II] Finished Goods	11.803	12.467	13.233
IV] Other consumable spares
Imported	-	-	-
Indigenous	-	-	-
31 Advances to suppliers of raw materials and stores	-	-	-
32 Advance payment of taxes [NET]	3.758	4.405	5.497
33 Other current assets	0.972	1.000	-
34 TOTAL CURRENT ASSETS	147.333	150.873	154.731
FIXED ASSETS
35 Gross Block	40.967	40.967	40.967
36. Depreciation to date	5.297	7.485	9.586
37 NET BLOCK [35-36]	35.670	33.482	31.381
OTHER NON – CURRENT ASSETS
38 Investments / book / debts / advances / deposits which are not Current Assts	6.807	7.077	7.428
I] [a] Investments in Subsidiary companies	6.807	7.077	7.428
[b] Others – Shares of Co-op Bank Limited	-	-	-
II] Advances to suppliers of capital goods and contractors	-	-	-
III} Deferred receivables [maturity exceeding one year]	-	-	-
IV] Others – advance to staff	-	-	-
39 Non consumables Stores and Spares	-	-	-
40 Other non – current assets (including dues from directors)	-	-	-
41 TOTAL OTHER NON – CURRENT ASSETS [38 to 40]	6.807	7.077	7.428
42 Intangible assets [Patents, goodwill, prelim, expenses, bad / doubtful debts Not provided for etc.]	-	-	-
43 TOTAL ASSETS [Total of 34, 37, 41 and 42]	189.810	191.432	193.540
44 TANGIBLE NET WORTH [24-42]	68.728	70.336	73.055
45 NET WORKING CAPITAL [17 + 24]-[37+41+42]	39.167	39.302	40.826
To tally with [34-10]	39.166	39.303	40.825
46 Current Ratio  [Items 34/10]	0.136	0.135	0.136
47 Total Outside Liabilities/ Tansible Net Worth (18/44)	0.176	0.172	0.165

FUND FLOW STATEMENT [Rs in Millions]

Assets	31.03.2009 Projection	31.03.2010 Projection	31.03.2011 Projection
1. Sources :
a] Net Profit (after tax)	9.13	10.109	12.219
b] Depreciation
Debited in P and L A/C	2.144	2.188	2.101
Capitalised during the year	0.000	0.000	0.000
c] Increase in Capital	0.000	0.000	0.000
d] Increase in Term Liability
(Incl. Public deposits) (break-up as below)
Term Loans	0.000	0.000	0.000
Quasi Loans	0.000	0.000	0.000
Others terms liabilities	0.000	0.000	0.000
e] Decrees in
Fixed Assets	0.000	0.000	0.000
Other non-current assets	0.000	0.000	0.000
f] Others
Preliminary exps w/off	0.000	0.000	0.000
Shares application money	0.000	0.000	0.000
Premium on equity capital	0.000	0.000	0.000
Defer tax liabity	0.701	0.498	0.349
Total	11.984	12.795	14.669
2. Uses :
a] Net Loss	0.000	0.000	0.000
b] Decrease in Term Liabilities (including public deposits) break – up below
Capital Accountant	0.000	0.000	0.000
Term Loans	0.800	3.889	3.294
Unsecured Loans	1.423	8.500	9.500
Other term liabilities	0.000	0.000	0.000
c] Increase in:
Fixed Assets	4.440	0.000	0.000
Other non – current assets	0.213	0.270	0.351
Dep. Written back	0.000	0.000	0.000
d] Dividend Payments	0.000	0.000	0.000
e] Others
Intangible assets	0.000	0.000	0.000
Corporate tax on dividend	0.000	0.000	0.000
Tax for earlier years	0.000	0.000	0.000
Total	6.876	12.659	13.145
3.Long Term Surplus (+)/ Deficit (-) [1-2]	5.108	0.137	1.523
4. Increase/ Decrease in current assets (as per details given below)	16.188	3.540	3.858
5. Increase/ Decrease in current liabilities other than Bank Borrowings	3.085	3.404	2.335
6. Increase/ Decrease in working capital gap	13.103	0.136	1.523
7.Net Surplus (+)/Deficit (-) (Difference of 3 & 6)	(7.996)	0.000	(0.000)
8. Increase/ Decrease in Bank Borrowings	7.996	0.000	0.000

PERSONAL A/C (MR. MOTICHAND HEMRAJ SHAH (HUF)

Capital Investment :
Owned :	Rs.4.134 Millions
Borrowed :	-
Total :	Rs.4.134 Millions

(PERSONAL BALANCE SHEET)

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		4.134	3.865	3.662
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		4.134	3.865	3.662
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.169	0.040	0.040
TOTAL BORROWING		0.169	0.040	0.040
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		4.303	3.905	3.702
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.256	0.232	0.225
DEFERREX 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	0.000	0.000	0.000
	Other Current Assets	0.174	0.008	0.015
	Loans & Advances	3.873	3.664	3.462
Total Current Assets		4.047	3.672	3.477
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		4.047	3.672	3.477
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4.303	3.904	3.702

R M TEXTILE

(PROPRIETOR MR. MOTICHAND HEMRAJ SHAH (HUF)

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		0.071	0.022	0.113
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		0.071	0.022	0.113
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.129	0.224	0.129
TOTAL BORROWING		0.129	0.224	0.129
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.200	0.246	0.242
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.276	0.324	0.381
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.030	0.000	0.856
	Cash & Bank Balances	0.045	0.166	0.048
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.009	0.009	0.009
Total Current Assets		0.084	0.175	0.913
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.160	0.253	1.052
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.160	0.253	1.052
Net Current Assets		(0.076)	(0.078)	(0.139)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		0.200	0.246	0.242

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2007	31.03.2006	31.03.2005
Sales Turnover	0.000	0.000	0.000
Other Income	0.639	2.572	3.537
Total Income	0.639	2.572	3.537
Profit/(Loss) Before Tax	0.063	0.083	0.253
Provision for Taxation	0.000	0.000	0.000
Profit/(Loss) After Tax	0.063	0.083	0.253
Total Expenditure	0.576	2.489	3.284

PERSONAL A/C (MR. RAMNIKLAL MOTICHAND SHAH (HUF)

Capital Investment :
Owned :	Rs.4.088 Millions
Borrowed :	-
Total :	Rs.4.088 Millions

(PERSONAL BALANCE SHEET)

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		4.088	3.662	3.477
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		4.088	3.662	3.477
LOAN FUNDS
1] Secured Loans		0.029	0.143	0.000
2] Unsecured Loans		0.016	0.016	0.432
TOTAL BORROWING		0.045	0.159	0.432
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		4.133	3.821	3.909
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.357	2.027	1.653
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.539	0.533	0.377
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.022	0.000	0.150
	Cash & Bank Balances	0.079	0.143	0.342
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.136	1.118	1.387
Total Current Assets		1.237	1.261	1.879
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		1.237	1.261	1.879
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4.133	3.821	3.909

ASHAPURA TEXTILES

(PROPRIETOR MR. RAMNIKLAL MOTICHAND SHAH (HUF)

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		0.079	0.079	0.207
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		0.079	0.079	0.207
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.251
2] Unsecured Loans		0.060	0.060	0.070
TOTAL BORROWING		0.060	0.060	0.321
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.139	0.139	0.528
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.368
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.306
	Cash & Bank Balances	0.000	0.138	0.183
	Other Current Assets	0.139	0.000	0.000
	Loans & Advances	0.000	0.001	0.000
Total Current Assets		0.139	0.139	0.489
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.329
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.329
Net Current Assets		0.139	0.139	0.160
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		0.139	0.139	0.528

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2006	31.03.2005
Sales Turnover	0.000	0.000
Other Income	0.918	3.632
Total Income	0.918	3.632
Profit/(Loss) Before Tax	(0.010)	0.194
Provision for Taxation	0.000	0.000
Profit/(Loss) After Tax	(0.010)	0.194
Total Expenditure	0.928	3.438

PERSONAL A/C (MRS. KASTURBEN RAMNIKLAL SHAH (HUF)

Capital Investment :
Owned :	Rs.4.500 Millions
Borrowed :	-
Total :	Rs.4.500 Millions

(PERSONAL BALANCE SHEET)

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		4.500	5.486	4.849
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		4.500	5.486	4.849
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.019	0.000	0.200
TOTAL BORROWING		0.019	0.000	0.200
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		4.519	5.486	5.049
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.129	0.942	0.765
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.495	0.438	0.302
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.017	0.000	0.000
	Cash & Bank Balances	0.038	0.024	0.035
	Other Current Assets	0.000	0.000	3.947
	Loans & Advances	2.840	4.082	0.000
Total Current Assets		2.895	4.106	3.982
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		2.895	4.106	3.982
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4.519	5.486	5.049

K. R. TEXTILE

(PROPRIETOR MRS. KASTURBEN RAMNIKLAL SHAH (HUF)

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		0.013	0.063	0.484
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		0.013	0.063	0.484
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.072
TOTAL BORROWING		0.000	0.000	0.072
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.013	0.063	0.556
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.135
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.170
	Cash & Bank Balances	0.013	0.000	0.217
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.000	0.123	0.196
Total Current Assets		0.013	0.123	0.583
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.060	0.162
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.060	0.162
Net Current Assets		0.013	0.063	0.421
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		0.013	0.063	0.556

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2007	31.03.2006	31.03.2005
Sales Turnover	0.000	0.000	0.000
Other Income	0.157	1.453	2.934
Total Income	0.157	1.453	2.934
Profit/(Loss) Before Tax	0.019	0.228	0.305
Provision for Taxation	0.000	0.000	0.000
Profit/(Loss) After Tax	0.019	0.228	0.305
Total Expenditure	0.138	1.225	2.629

PERSONAL A/C (MR. CHANDULAL MOTICHAND SHAH)

Capital Investment :
Owned :	Rs.3.990 Millions
Borrowed :	-
Total :	Rs.3.990 Millions

(PERSONAL BALANCE SHEET)

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		3.990	3.990	3.919
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		3.990	3.990	3.919
LOAN FUNDS
1] Secured Loans		0.000	2.443	0.000
2] Unsecured Loans		4.199	1.878	1.727
TOTAL BORROWING		4.199	4.321	1.727
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		8.189	8.311	5.646
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.035	4.938	1.433
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.823	0.721	0.375
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.156
	Sundry Debtors	0.022	0.000	0.048
	Cash & Bank Balances	0.081	0.094	0.144
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.228	2.558	3.490
Total Current Assets		2.331	2.652	3.838
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		2.331	2.652	3.838
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		8.189	8.311	5.646

C. M. TEXTILE

(PROPRIETOR MR. CHANDULAL MOTICHAND SHAH)

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		0.092	(0.228)	(0.257)
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		0.092	(0.228)	(0.257)
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.319	0.250
TOTAL BORROWING		0.000	0.319	0.250
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.092	0.091	(0.007)
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.511
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		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	0.092	0.000	0.039
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.000	0.091	0.054
Total Current Assets		0.092	0.091	0.093
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.611
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.611
Net Current Assets		0.092	0.091	(0.518)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		0.092	0.091	(0.007)

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2007 (Amount in Rupees.)	31.03.2006	31.03.2005
Sales Turnover	0.000	0.000	0.000
Other Income	0.000	0.000	2.667
Total Income	0.000	0.000	2.667
Profit/(Loss) Before Tax	(84.000)	(0.022)	0.171
Provision for Taxation	0.000	0.000	0.000
Profit/(Loss) After Tax	(84.000)	(0.022)	0.171
Expenditure:
Interests and Bank Charge	84.000	0.022	0.025
Depreciation	0.000	0.000	0.041
Other Expenses	0.000	0.000	2.430
Total Expenditure	84.000	0.022	2.496

S. M. PROCESSOR

(PROPRIETOR MR. CHANDULAL MOTICHAND SHAH)

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		0.160	2.349	2.205
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		0.160	2.349	2.205
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	1.845	0.945
TOTAL BORROWING		0.000	1.845	0.945
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.160	4.194	3.150
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	3.988	4.408
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		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	0.108	0.011	0.422
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.060	0.332	0.073
Total Current Assets		0.168	0.343	0.495
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.008	0.137	1.753
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.008	0.137	1.753
Net Current Assets		0.160	0.206	(1.258)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		160	4.194	3.150

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2007	31.03.2006	31.03.2005
Sales Turnover	0.000	0.000	0.000
Other Income	0.200	2.816	2.263
Total Income	0.200	2.816	2.263
Profit/(Loss) Before Tax	0.200	(0.047)	0.085
Provision for Taxation	0.000	0.000	0.000
Profit/(Loss) After Tax	0.200	(0.047)	0.085
Expenditure:
Interests and Bank Charges	0.000	0.321	0.073
Depreciation	0.000	0.643	0.224
Other Expenses	0.000	1.899	1.881
Total Expenditure	0.000	2.863	2.178

PERSONAL A/C (MRS. KANTABEN CHANDULAL SHAH)

Capital Investment :
Owned :	Rs.4.578 Millions
Borrowed :	-
Total :	Rs.4.578 Millions

(PERSONAL BALANCE SHEET)

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		4.578	5.750	5.262
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		4.578	5.750	5.262
LOAN FUNDS
1] Secured Loans		2.352	2.443	0.000
2] Unsecured Loans		0.134	0.134	0.200
TOTAL BORROWING		2.486	2.577	0.200
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		7.064	8.327	5.462
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4.047	3.699	1.079
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.506	0.491	0.332
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.089	0.072	0.180
	Cash & Bank Balances	0.137	0.134	0.285
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.285	3.931	3.586
Total Current Assets		2.511	4.137	4.051
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		2.511	4.137	4.051
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7.064	8.327	5.463

K. C. TEXTILES

(PROPRIETOR (MRS. KANTABEN CHANDULAL SHAH)

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		0.128	0.143	0.292
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		0.128	0.143	0.292
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.128	0.143	0.292
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.139
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.223
	Cash & Bank Balances	0.128	0.143	0.113
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.000	0.000	0.000
Total Current Assets		0.128	0.143	0.336
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.183
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.183
Net Current Assets		0.128	0.143	0.153
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		0.128	0.143	0.292

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2006	31.03.2005
Sales Turnover	0.000	0.000
Other Income	0.527	3.748
Total Income	0.527	3.748
Profit/(Loss) Before Tax	(0.026)	0.250
Provision for Taxation	0.000	0.000
Profit/(Loss) After Tax	(0.026)	0.250
Total Expenditure	0.553	3.498

PERSONAL A/C (MR. PREMCHAND MOTICHAND SHAH (HUF)

Capital Investment :
Owned :	Rs.4.297 Millions
Borrowed :	-
Total :	Rs.4.297 Millions

(PERSONAL BALANCE SHEET)

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		4.297	3.892	3.580
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		4.297	3.892	3.580
LOAN FUNDS
1] Secured Loans		0.123	0.000	0.000
2] Unsecured Loans		0.000	0.599	0.000
TOTAL BORROWING		0.123	0.599	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		4.420	4.491	3.580
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.195	0.225	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.692	0.415	0.339
DEFERREX 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	0.021	0.026	0.029
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	3.512	3.825	3.212
Total Current Assets		3.533	3.851	3.241
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		3.533	3.851	3.241
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4.420	4.491	3.580

P. M. TEXTILE

(PROPRIETOR MR. PREMCHAND MOTICHAND SHAH (HUF)

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		(0.037)	(0.399)	0.269
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		(0.037)	(0.399)	0.269
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.040	0.040	0.275
TOTAL BORROWING		0.040	0.040	0.275
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.003	(0.359)	0.544
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.032
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.688
	Cash & Bank Balances	0.012	0.023	0.070
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.006	0.008	0.001
Total Current Assets		0.018	0.031	0.759
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.015	0.390	0.247
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.015	0.390	0.247
Net Current Assets		0.003	(0.359)	0.512
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		0.003	(0.359)	0.544

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2007	31.03.2006	31.03.2005
Sales Turnover	0.000	0.000	0.000
Other Income	0.338	2.419	2.962
Total Income	0.338	2.419	2.962
Profit/(Loss) Before Tax	0.037	0.151	0.231
Provision for Taxation	0.000	0.000	0.000
Profit/(Loss) After Tax	0.037	0.151	0.231
Total Expenditure	0.301	2.268	2.731

PERSONAL A/C (MR. PREMCHAND MOTICHAND SHAH)

Capital Investment :
Owned :	Rs.6.900 Millions
Borrowed :	-
Total :	Rs.6.900 Millions

(PERSONAL BALANCE SHEET)

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		6.900	6.503	6.615
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		6.900	6.503	6.615
LOAN FUNDS
1] Secured Loans		4.314	2.454	0.000
2] Unsecured Loans		2.074	4.121	1.839
TOTAL BORROWING		6.388	6.575	1.839
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		13.288	13.078	8.454
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		10.556	10.801	7.230
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.771	0.472	0.458
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.064	0.054	0.042
	Cash & Bank Balances	0.102	0.032	0.017
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.795	1.719	0.707
Total Current Assets		1.961	1.805	0.766
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		1.961	1.805	0.766
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		13.288	13.078	8.454

DHARA TEXTILES

(PROPRIETOR MR. PREMCHAND MOTICHAND SHAH)

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		0.192	0.542	0.598
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		0.192	0.542	0.598
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.120	0.120	0.131
TOTAL BORROWING		0.120	0.120	0.131
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.312	0.662	0.729
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.355
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.091
		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.144	0.000	0.000
	Cash & Bank Balances	0.168	0.253	0.264
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.000	0.409	0.120
Total Current Assets		0.312	0.662	0.384
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.101
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.101
Net Current Assets		0.312	0.662	0.283
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		0.312	0.662	0.729

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2007	31.03.2006	31.03.2005
Sales Turnover	0.000	0.000	0.000
Other Income	2.124	1.431	2.863
Total Income	2.124	1.431	2.863
Profit/(Loss) Before Tax	0.198	(0.016)	0.103
Provision for Taxation	0.000	0.000	0.000
Profit/(Loss) After Tax	0.198	(0.016)	0.103
Total Expenditure	1.926	1.415	2.760

PREMCHAND AND SONS

(PROPRIETOR MR. PREMCHAND MOTICHAND SHAH)

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		0.009	(1.254)	0.016
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		0.009	(1.254)	0.016
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.998	0.997
TOTAL BORROWING		0.000	0.998	0.997
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.009	(0.256)	1.013
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	1.281
	Cash & Bank Balances	0.009	0.024	0.024
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.000	0.000	0.000
Total Current Assets		0.009	0.024	1.305
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.280	0.281
	Provisions	0.000	0.000	0.011
Total Current Liabilities		0.000	0.280	0.292
Net Current Assets		0.009	(0.256)	1.013
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		0.009	(0.256)	1.013

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2007
Sales Turnover	0.000
Other Income	0.000
Total Income	0.000
Profit/(Loss) Before Tax	(0.018)
Provision for Taxation	0.000
Profit/(Loss) After Tax	(0.018)
Total Expenditure	0.018

PERSONAL A/C (MRS. PUSHPABEN PREMCHAND SHAH)

Capital Investment :
Owned :	Rs.6.149 Millions
Borrowed :	-
Total :	Rs.6.149 Millions

(PERSONAL BALANCE SHEET)

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		6.149	5.958	5.927
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		6.149	5.958	5.927
LOAN FUNDS
1] Secured Loans		2.418	2.484	0.000
2] Unsecured Loans		0.070	0.070	0.070
TOTAL BORROWING		2.488	2.554	0.070
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		8.637	8.512	5.997
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.924	5.927	3.366
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.522	0.416	0.326
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.017	0.000	0.000
	Cash & Bank Balances	0.043	0.031	0.023
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.131	2.138	2.282
Total Current Assets		2.191	2.169	2.305
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		2.191	2.169	2.305
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		8.637	8.512	5.997

P. P. TEXTILE

(PROPRIETOR MRS. PUSHPABEN PREMCHAND SHAH)

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		0.025	0.001	0.288
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		0.025	0.001	0.288
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.105
TOTAL BORROWING		0.000	0.000	0.105
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.025	0.001	0.393
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.034
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.568
	Cash & Bank Balances	0.025	0.037	0.070
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.000	0.000	0.025
Total Current Assets		0.025	0.037	0.663
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.036	0.304
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.036	0.304
Net Current Assets		0.025	0.001	0.359
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		0.025	0.001	0.393

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2006	31.03.2005
Sales Turnover	0.000	0.000
Other Income	1.563	2.952
Total Income	1.563	2.952
Profit/(Loss) Before Tax	(0.079)	0.329
Provision for Taxation	0.000	0.000
Profit/(Loss) After Tax	(0.079)	0.329
Total Expenditure	1.642	2.623

PERSONAL A/C (MR. DINESH PREMCHAND GOSRANI)

Capital Investment :
Owned :	Rs.3.446 Millions
Borrowed :	-
Total :	Rs.3.446 Millions

(PERSONAL BALANCE SHEET)

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		3.446	3.258	3.129
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		3.446	3.258	3.129
LOAN FUNDS
1] Secured Loans		2.175	1.446	0.000
2] Unsecured Loans		0.532	2.202	0.345
TOTAL BORROWING		2.707	3.648	0.345
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		6.153	6.906	3.474
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.788	2.653	0.503
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.407	0.669	0.173
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.005	0.000	0.000
	Cash & Bank Balances	0.053	0.016	0.082
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.901	3.568	2.716
Total Current Assets		2.959	3.584	2.798
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		2.959	3.584	2.798
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		6.153	6.906	3.474

D. P. TEXTILE

(PROPRIETOR MR. DINESH PREMCHAND GOSRANI)

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		0.272	0.272	0.074
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		0.272	0.272	0.074
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.600
TOTAL BORROWING		0.000	0.000	0.600
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.272	0.272	0.674
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.460
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.514
	Cash & Bank Balances	0.170	0.170	0.112
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.174	0.174	0.164
Total Current Assets		0.344	0.344	0.790
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.072	0.072	0.576
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.072	0.072	0.576
Net Current Assets		0.272	0.272	0.214
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		0.272	0.272	0.674

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2006	31.03.2005
Sales Turnover	0.000	0.000
Other Income	0.509	2.744
Total Income	0.509	2.744
Profit/(Loss) Before Tax	(0.030)	0.211
Provision for Taxation	0.000	0.000
Profit/(Loss) After Tax	(0.030)	0.211
Total Expenditure	0.539	2.533

PERSONAL A/C (MRS. DINA DINESH GOSRANI)

Capital Investment :
Owned :	Rs.0.460 Million
Borrowed :	-
Total :	Rs.0.460 Million

(PERSONAL BALANCE SHEET)

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		0.460	0.321	0.241
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		0.460	0.321	0.241
LOAN FUNDS
1] Secured Loans		1.402	0.000	0.000
2] Unsecured Loans		0.000	1.446	0.000
TOTAL BORROWING		1.402	1.446	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1.862	1.767	0.241
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.496	1.504	0.054
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.062	0.015	0.000
DEFERREX 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	0.097	0.041	0.187
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.207	0.207	0.000
Total Current Assets		0.304	0.248	0.187
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		0.304	0.248	0.187
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1.862	1.767	0.241

PERSONAL A/C (MR. SANJAY PREMCHAND GOSRANI)

Capital Investment :
Owned :	Rs.3.146 Millions
Borrowed :	-
Total :	Rs.3.146 Millions

(PERSONAL BALANCE SHEET)

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		3.146	1.463	1.481
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		3.146	1.463	1.481
LOAN FUNDS
1] Secured Loans		3.268	1.461	0.000
2] Unsecured Loans		0.229	0.800	0.000
TOTAL BORROWING		3.497	2.261	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		6.643	3.724	1.481
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.283	3.363	0.252
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.229	0.122	0.171
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.005	0.000	0.000
	Cash & Bank Balances	0.279	0.070	0.263
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.847	0.169	0.795
Total Current Assets		3.131	0.239	1.058
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		3.131	0.239	1.058
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		6.643	3.724	1.481

S. P. TEXTILE

(PROPRIETOR MR. SANJAY PREMCHAND GOSRANI)

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		0.086	0.001	0.713
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		0.086	0.001	0.713
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.016	0.133	0.075
TOTAL BORROWING		0.016	0.133	0.075
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.102	0.134	0.788
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.311
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.017	0.000	0.464
	Cash & Bank Balances	0.047	0.096	0.234
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.038	0.038	0.136
Total Current Assets		0.102	0.134	0.834
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.357
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.357
Net Current Assets		0.102	0.134	0.477
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		0.102	0.134	0.788

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2007	31.03.2006	31.03.2005
Sales Turnover	0.000	0.000	0.000
Other Income	1.008	1.682	2.817
Total Income	1.008	1.682	2.817
Profit/(Loss) Before Tax	0.120	0.092	0.285
Provision for Taxation	0.000	0.000	0.000
Profit/(Loss) After Tax	0.120	0.092	0.285
Total Expenditure	0.888	1.590	2.532

PERSONAL A/C (MRS. VIBHA SANJAY GOSRANI)

Capital Investment :
Owned :	Rs.0.350 Million
Borrowed :	-
Total :	Rs.0.350 Million

(PERSONAL BALANCE SHEET)

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		0.350	0.249	0.239
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		0.350	0.249	0.239
LOAN FUNDS
1] Secured Loans		1.422	0.000	0.000
2] Unsecured Loans		0.001	4.481	0.000
TOTAL BORROWING		1.423	1.479	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1.773	1.730	0.239
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.515	1.523	0.052
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.062	0.015	0.000
DEFERREX 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	0.138	0.172	0.187
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.058	0.020	0.000
Total Current Assets		0.196	0.192	0.187
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		0.196	0.192	0.187
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1.773	1.730	0.239

PERSONAL A/C (MR. TUSHAR PREMCHAND GOSRANI)

Capital Investment :
Owned :	Rs.3.280 Millions
Borrowed :	-
Total :	Rs.3.280 Millions

(PERSONAL BALANCE SHEET)

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		3.280	1.326	1.280
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		3.280	1.326	1.280
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.200	0.000
TOTAL BORROWING		0.000	0.200	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		3.280	1.526	1.280
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.656	0.455	0.000
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.229	0.182	0.171
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.005	0.085	0.104
	Cash & Bank Balances	0.227	0.085	0.215
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2.163	0.719	0.790
Total Current Assets		2.395	0.889	1.109
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.000
Net Current Assets		2.395	0.889	1.109
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		3.280	1.526	1.280

T. P. TEXTILE

(PROPRIETOR MR. TUSHAR PREMCHAND GOSRANI)

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		0.197	0.197	0.269
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		0.197	0.197	0.269
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.197	0.197	0.269
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000	0.000	0.319
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.043
	Cash & Bank Balances	0.178	0.178	0.310
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.019	0.019	0.019
Total Current Assets		0.197	0.197	0.372
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	0.000	0.000	0.422
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.000	0.422
Net Current Assets		0.197	0.197	(0.050)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		0.197	0.197	0.269

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2007	31.03.2006	31.03.2005
Sales Turnover		0.000	0.000
Other Income		1.558	2.250
Total Income		1.558	2.250
Profit/(Loss) Before Tax		0.084	0.152
Provision for Taxation		0.000	0.000
Profit/(Loss) After Tax		0.084	0.152
Total Expenditure		1.474	2.098

Fixed Assets:

• Air Conditions
• Computer
• Electrical Equipment
• Fax Modem
• Furniture and Fixture
• Machinery
• Motor Car
• Motor Bike
• Telephone Equipment
• Tempo
• Transformers
• U.P.S.
• Vaccum Cleaner
• Water Purifier
• Software

Form 8: Bankers Charges Report as per Registry

Name of the company	CHUR SYNTHETICS PRIVATE LIMITED
Presented By	CITICORP FINANCE (INDIA) LIMITED AND CHUR SYNTHETICS PRIVATE LIMITED
1) Date and description of instrument creating the change	Dated 23th April, 2005. Loan cum Hypothecation Agreement. Contact No. (LNI-CFI-2623655)
2) Amount secured by the charge/amount owing on the securities of charge	Rs.0.448 Million
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Hypothecation of 1 Tata Diesel Vehicle of Model SFC 407/31 EX Purchased/ to be purchased out of the loan amount availed from CITICORP FINANCE (INDIA) LIMITED.
4) Gist of the terms and conditions and extent and operation of the charge.	The above loan is repayable in 34 EMI of Rs.14330 each Starting from 30^th April, 2005. Interests 8.19% p.a. to be computed with monthly rests on the outstanding balance.
5) Name and Address and description of the person entitled to the charge.	Citicorp Finance (India) Limited 2^nd Floor, Citi Tower, 61 Dr. S. S. Rao Road, Parel, Mumbai – 400012, Maharashtra, India
6) Date and brief description of instrument modifying the charge	NA
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	NA

Corporate identity number of the company	U17110MH1996PTC103857
Name of the company	CHUR SYNTHETICS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	H. No.1277, Vasai Kharbhav Road, Anjurphata, Bhiwandi, Thane – 401302, Maharashtra, India
This form is for	Modification of charge
Type of charge	Book Debts Movable Property Stocks, Fixed and Plant and Machinery etc.
Particular of charge holder	Corporation Bank Kalbadevi Branch, Babu Genu Road, Mumbai – 400002, Maharashtra, India adlalwani@rediffmail.com
Nature of instrument creating charge	Supplementary common Deed of Hypothecation of Movables/ Assets/ Debts. Agreement fro Term Loans. (All the above agreement constitute a single charge)
Date of instrument Creating the charge	10.11.2007
Amount secured by the charge	Rs.87.440 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest: As stipulated by Bank from Time to Time Terms of Repayment: As stipulated by Bank from Time to Time Margin: As stipulated by Bank from Time to Time Extent and Operation of the charge: First Charge (Present and Future) = As stipulated by Bank from Time to Time = Total Limit = Rs.87.440 Millions (Cash and Credit = Rs.75.000 Millions, Secured Demand Loan for Purchasesing of Power Generator Set = Rs.1.500 Millions, Term Loan Rs.1.640 Millions, Term Loan = Rs.9.300 Millions) Others : As stipulated by Bank from Time to Time
Particulars of the property charged	First Charge (Present and Future) = Hypothecation of Stock and Book Debts and Receivable Hypothecation of Fixed Assets of the company comprising of Plant and Machinery and Other Assets of company Hypothecation of all current and movable assets of the company including all the assets purchases out of Bank Finance/ Term Loan.
Particulars of the present modification	By this modification limit enhanced from Rs.53.140 Millions to Rs.87.440 Millions continued security as given by original charge as well as by modifications.

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 records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.42.78
UK Pound	1	Rs.85.51
Euro	1	Rs.67.90

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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	Unfavourable & favourable factors carry similar weight in credit consideration. 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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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