MIRA INFORM REPORT

Report Date :

11.05.2011

IDENTIFICATION DETAILS

Name :	FLASH ELECTROPROJECTS PRIVATE LIMITED
Registered Office :	Plot No-GA 140, Niladri Vihar, Chandrasekhar Pur, Bhubaneswar – 751016, Orissa
Country :	India
Financials (as on) :	31.03.2011 (Provisional)
Date of Incorporation :	13.05.2009
Com. Reg. No.:	15-10806
Capital Investment / Paid-up Capital :	Rs.9.535 Millions
CIN No.: [Company Identification No.]	U29248OR2009PTC010806
PAN No.: [Permanent Account No.]	AABCF3613Q
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Electricals Cables and Conductors.
No. of Employees :	14 (Office – 4 and Factory – 10)

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	New Company
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a relatively new company in its field. Trade relations are reported as fair. The valuation report provided is of a lesser value than the proposal amount. No further details or payment could be made available. It would be advisable to take adequate securities while dealing with the subject.

NOTES:

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

ECGC Country Risk Classification List – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY

Name :	Mr. Biswajit Dasgupta
Designation :	Director
Contact No.:	91-9776021815
Date :	09.05.2011

LOCATIONS

Registered Office :	Plot No-GA 140, Niladri Vihar, Chandrasekhar Pur, Bhubaneswar – 751016, Orissa, India
Tel. No.:	91-674-2544824
Mobile No.:	91-9776021815 (Mr. Biswajit Dasgupta)
E-Mail :	psm_caoff@rediffmail.com parthamishra1@yahoo.co.in flash2009_2010@rediffmail.com
Area :	1500 sq. ft.
Location :	Rented
Factory :	Radhakrishnapur, athagada, Near Khuntuni, District – Cuttack – 754029, Orissa, India
Area :	109000 sq. ft. (Appx)
Location :	Owned

DIRECTORS

(AS ON 30.09.2010)

Name :	Mrs. Anita Tripathy
Designation :	Director
Address :	Plot No. G A-140, Niladree Vihar, Chandrasekharpur, Bhubaneswar – 751016, Orissa, India
Date of Birth/Age :	31.05.1968
Qualification :	PG in Psychology
Experience :	5 years
Date of Appointment :	13.05.2009
PAN No.:	ABZPT5120A
Name :	Mr. Animesh Rout
Designation :	Director
Address :	Ward No.2, Dhenkanal, Dhenkanal – 759001, Orissa, India
Date of Birth/Age :	07.10.1971
Qualification :	MBA, LLB
Experience :	12 years
Date of Appointment :	25.09.2010
PAN No.:	ANKPR5469F
Name :	Mr. Bibhuti Bhusan Patnaik
Designation :	Director
Address :	Ward No.10, Near Dakhina Kali Temple, Dhenkanal, Dhenkanal – 759001, Orissa, India
Date of Birth/Age :	07.09.19680
Qualification :	M. Com, LLB
Experience :	15 years
Date of Appointment :	25.09.2010
Name :	Mr. Gyana Prakash Samantaray
Designation :	Director
Address :	Plot No.1009, Patia, Bhubaneshwar, Khurda, Bhubaneshwar – 751031, Orissa, India
Date of Birth/Age :	05.12.1975
Qualification :	B. Com
Experience :	2 years
Date of Appointment :	25.09.2010
PAN No.:	BBBPS4919P
Name :	Mr. Biswajit Dasgupta
Designation :	Director
Address :	Plot No.M-51, Samant Vihar, Near Kalinga Hospital, Bhubneswar, Orissa, India
Date of Birth/Age :	04.07.1967
Qualification :	M. Com, LLB
Experience :	7 years
PAN No.:	AHSPD1577G
Name :	Mr. Susanta Kumar Nayak
Designation :	Director
Address :	Plot No. G A-140, Niladree Vihar, Chandrasekharpur, Bhubaneswar – 751016, Orissa, India
Date of Birth/Age :	04.07.1977
Qualification :	Diploma in Electrical Engineering
Experience :	12 years
PAN No.:	AHXPN3017E

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2010)

Names of Allottee	No. of Shares Allotted
Anita Tripathy	37900
Arun Kumar Das	50000
Aurobindo Das	60000
Bidhudatta Mishra	22000
Deepak Ranjan Barik	52000
Goutam Kumar Parida	41000
Kasinath Lenka	7000
Sasmita Rath	67000
Suchismita Pati	45000
Sunil Kumar Das	47000
Annapurna Logistic Private Limited	250000
Narasingh Nayak	5300
Mamata Nayak	19300
Biswajit Dasgupta	50000
Susanta Kumar Nayak	20000
Lingjaraj Mishra	60000
Anutosh Dasgupta	50000
Animesh Rout	35000
Bibhuti Bhusan Pattnaik	35000
Total	953500

(AS ON 30.09.2010)

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Electricals Cables and Conductors.
Products :	Electricals Cables and Conductors.
Terms :
Selling :	Credit (30 days)
Purchasing :	Cash

GENERAL INFORMATION

Customers :	Retailers and End Users
No. of Employees :	14 (Office – 4 and Factory – 10)
Bankers :	· State Bank of India IIC Branch, Mancheswar, Bhubaneswar – 751010, Orissa, India · Corporation Bank Bidanashi Branch, Cuttack, Orissa, India
Facilities :	Applied for CC and TL of Rs.60.000 Millions from Corporation Bank.

Banking Relations :	--
Auditors :
Name :	J. Pradhan and Company Chartered Accountant
Address :	Plot No.-L-3/69, Acharya Vihar, BBSR – 751013, India
Tel No.:	91-674-2542418
Email :	jmpbbsr@yahoo.com

CAPITAL STRUCTURE

(AS ON 31.03.2011 – PROVISIONAL)

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Share	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
953500	Equity Share	Rs.10/- each	Rs.9.535 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011 (Provisional)	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		9.535	0.100
2] Share Application Money		4.172	7.005
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		13.707	7.105
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		13.707	7.105
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.605	0.145
Capital work-in-progress		10.941	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	0.067	1.153
	Other Current Assets	0.005	0.005
	Loans & Advances	1.505	5.745
Total Current Assets		1.577	6.903
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.000	0.000
	Other Current Liabilities	0.000	0.000
	Provisions	0.010	0.005
Total Current Liabilities		0.010	0.005
Net Current Assets		1.567	6.898
MISCELLANEOUS EXPENSES		0.594	0.062
TOTAL		13.707	7.105

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011 (Provisional)	31.03.2010
	SALES
		Income	0.000
		Other Income	0.000
		TOTAL (A)	0.000
Less	EXPENSES
		Personnel Expenditure	0.245
		Administrative and Other Expenses	0.096
		TOTAL (B)	0.341
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(0.341)
Less	FINANCIAL EXPENSES (D)		0.001	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.342)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.004
	PROFIT BEFORE TAX (E-F) (G)		(0.346)
Less	TAX (H)		0.000
	PROFIT AFTER TAX (G-H) (I)		(0.346)
	Earnings Per Share (Rs.)		--	--

KEY RATIOS

PARTICULARS		31.03.2011 (Provisional)	31.03.2010
Return on Total Assets (PBT/Total Assets}	(%)	(15.86)	NA
Return on Investment (ROI) (PBT/Networth)		(2.52)	NA
Debt Equity Ratio (Total Liability/Networth)		0.00	0.00
Current Ratio (Current Asset/Current Liability)		157.70	1380.60

LOCAL AGENCY FURTHER INFORMATION

PROJECT COST

Particulars	(Rs. In Millions)
Land Development	1.410
Boundary wall	1.475
Office Building	1.515
Factory Shed	9.850
Labour Shed	0.737
Plant and Machinery	14.400
Fork Lift	1.025
Air Conditioner	0.100
Computer	0.200
Electrification	5.100
Furniture and Fixtures	0.400
Water Supply Installation	0.275
Total Fixed Assets	36.487
Security Deposit	0.350
Preliminary Expenses	0.302
Pre-operative Expenses	1.818
Margin on Working Capital	7.500
Contingency @ 4%	1.090
Total Project Cost	47.547

MEANS OF FINANCE

Particulars	(Rs. In Millions)
Equity	17.547
Term Loan	30.000
Total Means of Finance	47.547

------------------------------------------------------------------------------------------------------------------------------

ASSESSMENT OF WORKING CAPITAL REQUIREMENT

OPERATING STATEMENT

(RS. IN MILLIONS)

Particulars	31.03.2012	31.03.2013	31.03.2014	31.03.2015	31.03.2016
	(Projected)
Gross Sales
Sales of Cables and Conductors	175.305	404.549	431.519	458.489	458.489
Others	--	--	--	--	--
Total	175.305	404.549	431.519	458.489	458.489
Less : Excise Duty	0.000	0.000	0.000	0.000	0.000
Net Sales	175.305	404.549	431.519	458.489	458.489
% rise [+] or fall [-] in net sales as compared to previous year	NA	130.77%	6.67%	6.25%	0.00%
Cost of Sales
Raw Materials Consumed (Including Stores and Other Items Used in the Process of Manufacture)
Imported	0.000	0.000	0.000	0.000	0.000
Indigenous	184.730	357.700	378.770	402.290	399.840
Others Stores and Spares
Imported	0.000	0.000	0.000	0.000	0.000
Indigenous	0.924	1.789	1.894	2.011	1.99
Power and Fuel	1.221	2.819	3.007	3.195	3.195
Direct Wages (Factory Wages and Salaries)	1.341	1.877	1.971	2.070	2.173
Stores, Consumable and Maintenance	1.529	3.528	3.763	3.998	3.998
Other Manufacturing Expenses	0.000	0.000	0.000	0.000	0.000
Depreciation	3.162	6.126	4.983	4.195	3.458
Sub Total	192.907	373.839	394.388	417.759	414.664
Add: Opening stocks of Raw Materials	0.000	19.110	22.050	23.520	24.990
Deduct: Closing stocks of Raw Materials	19.110	22.050	23.520	24.990	24.990
Cost of Manufacturing	173.797	370.899	392.918	416.289	414.664
Add: Opening stock of Finished Goods and WIP	0.000	13.421	15.372	16.331	17.305
Deduct : Closing stock of Finished Goods and WIP	13.421	15.372	16.331	17.305	17.278
SUB TOTAL (Total cost of sales)	160.376	368.948	391.959	415.315	414.691
Selling, General and Administrative Expenses	2.263	4.574	5.032	5.535	6.088
Sub Total	162.639	373.522	396.991	420.850	420.779
Operating Profit before interests	12.666	31.027	34.528	37.639	37.710
Interests	6.551	6.818	6.038	5.258	4.478
Operating profit after Interests	6.115	24.210	28.491	32.382	33.233
Add : Other Non Operating Income	0.000	0.000	0.000	0.000	0.000
Less: Other Non Operating Expenses	0.424	0.424	0.424	0.424	0.424
Profit before Tax/ Loss [PBT]	5.691	23.786	28.067	31.958	32.809
Provision for taxes	1.934	8.085	9.540	10.863	11.152
Net Profit / Loss [PAT]	3.757	15.701	18.527	21.095	21.657
Retained Profit	3.757	14.701	17.277	19.533	19.704
Retained Profit/ Net Profit (% age)	100.00%	93.63%	93.25%	92.59%	90.98%
	2.14%	3.88%	4.29%	4.60%	4.72%

------------------------------------------------------------------------------------------------------------------------------

ANALYSIS OF BALANCE SHEET

(RS. IN MILLIONS)

Particulars	31.03.2012	31.03.2013	31.03.2014	31.03.2015	31.03.2016
	(Projected)
CURRENT LIABILITIES
Short Term Borrowing from Bank (including bills purchased, discounted and excess borrowing placed on repayment basis)
i. From Application Bank	30.000	30.000	30.000	30.000	30.000
ii. From Other Banks	--	--	--	--	--
SUB TOTAL	30.000	30.000	30.000	30.000	30.000
Short Term Borrowings From Others	--	--	--	--	--
Sundry Creditors (Trader)	4.618	10.930	11.574	12.292	12.217
Advances Payment from customers	0.750	3.500	3.750	4.000	4.250
Provision For Taxes	1.934	8.085	9.540	10.863	11.152
Creditor for Expenses	--	--	--	--	--
Dividend Payable	--	--	--	--	--
Other Statutory Liabilities (due within one years)	--	--	--	--	--
Installments of term loans and Deferred Payment Credits	--	--	--	--	--
Other current Liabilities and Provisions (due within one years)	0.303	0.608	0.653	0.700	0.727
SUB TOTAL	7.606	23.123	25.517	27.855	28.346
TOTAL CURRENT LIABILITIES	37.606	53.123	55.517	57.855	58.346
TERM LIABILITIES
Debentures	--	--	--	--	--
Redeemable Preference Shares	--	--	--	--	--
Term Loans	27.000	21.000	15.000	9.000	3.000
Deferred Payment Credits	--	--	--	--	--
Term Deposit	--	--	--	--	--
Other Term Liabilities/ Unsecured Loans	0.000	0.000	0.000	0.000	0.000
TOTAL TERM LIABILITIES	27.000	21.000	15.000	9.000	3.000
TOTAL OF OUTSIDE LIABILITIES	64.606	74.123	70.517	66.855	61.346
NET WORTH
Ordinary Share Capital	17.547	17.547	17.547	17.547	17.547
Application Money	--	--	--	--	--
Partner’s Current A/c	--	--	--	--	--
General Reserve	--	--	--	--	--
Revolution Reserve	--	--	--	--	--
Reserves and Surplus	--	--	--	--	--
Unsecured Loans	--	--	--	--	--
Share Premium Account	--	--	--	--	--
Surplus (+) or deficit (-) in Profit and Loss Account	3.757	18.458	35.735	55.268	74.972
TOTAL NET WORTH	21.304	36.005	53.282	72.815	92.519
TOTAL LIABILITIES	85.910	110.128	123.799	139.670	153.865
ASSETS
CURRENT ASSETS
Cash and Bank Balance	0.346	0.658	1.201	1.721	2.257
Investments [Other than long term investments]	--	--	--	--	--
Receivables other than deferred and exports	14.609	32.173	46.724	62.227	79.306
Export receivables	--	--	--	--	--
Government and other Trustee securities	--	--	--	--	--
Fixed deposit with bank	--	--	--	--	--
Domestic receivable Including BP/ BD	--	--	--	--	--
INVENTORY
Raw Materials
Imported	0.000	0.000	0.000	0.000	0.000
Indigenous	0.000	0.000	0.000	0.000	0.000
Stock in Process	19.110	22.050	23.520	24.990	24.990
Finished Goods (Trading)	13.421	15.372	16.331	17.305	17.278
Other Consumable Spares	--	--	--	--	--
Advances to suppliers	--	--	--	--	--
Advance Payment of Taxes	1.934	8.085	9.540	10.863	11.152
Other Current Assets	0.350	0.350	0.350	0.350	0.350
TOTAL CURRENT ASSETS	49.770	78.688	97.666	117.456	135.333
FIXED ASSETS
Gross Block (Land and Building Machinery)	37.606	39.456	39.556	40.256	40.456
Depreciation to date	3.162	9.288	14.271	18.466	21.924
NET BLOCK	34.444	30.168	25.285	21.790	18.532
OTHER NON CURRENT ASSETS
Investments in sub Cos./ Affiliates	0.000	0.000	0.000	0.000	0.000
Advances to suppliers of Capital goods and contractors	0.000	0.000	0.000	0.000	0.000
Investment in Others	0.000	0.000	0.000	0.000	0.000
Other Non-Current Investment	0.000	0.000	0.000	0.000	0.000
TOTAL OTHER NON CURRENT ASSETS	0.000	0.000	0.000	0.000	0.000
Intangible Assets	1.696	1.272	0.848	0.424	0.000
TOTAL ASSETS	85.910	110.128	123.799	139.670	153.865
Tangible Net Worth (TNW)	19.608	34.733	52.434	72.391	92.519
Net Working Capital (NWC)	12.164	25.565	42.149	59.601	76.987
Current Ratio	1.32	1.48	1.76	2.03	2.32
Total Outside Liabilities/ Tangible Net worth	3.29	2.13	1.34	0.92	0.66
Total term Liabilities/ Tangible Net worth	1.38	0.60	0.29	0.12	0.03

------------------------------------------------------------------------------------------------------------------------------

COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES

(RS IN MILLIONS)

Particulars	31.03.2012	31.03.2013	31.03.2014	31.03.2015	31.03.2016
	(Projected)
A CURRENT ASSETS
Raw Materials
[a] Imported	0.000	0.000	0.000	0.000	0.000
Months Consumption	0.000	0.000	0.000	0.000	0.000
[b] Indigenous	0.000	0.000	0.000	0.000	0.000
Months Consumption	0.000	0.000	0.000	0.000	0.000
Other consumable spares
[a] Imported	0.000	0.000	0.000	0.000	0.000
Months Consumption	0.000	0.000	0.000	0.000	0.000
[b] Indigenous	0.000	0.000	0.000	0.000	0.000
Months Consumption	0.000	0.000	0.000	0.000	0.000
Stock in process	19.110	22.050	23.520	24.990	24.990
Months cost of production	(0.66)	(0.71)	(0.72)	(0.72)	(0.72)
Finished goods	13.421	15.372	16.331	17.305	17.278
Months cost of sales	(0.50)	(0.50)	(0.50)	(0.50)	(0.50)
Receivable other than export and deferred receivables [including bills purchased and discounted by bankers]	14.609	32.173	46.724	62.227	79.306
Months domestic sales	(0.50)	(0.95)	(1.30)	(1.63)	(2.08)
Export receivables [including bills purchased and discounted by bankers months export sales]	0.000	0.000	0.000	0.000	0.000
Advances to suppliers of raw materials and stores/ spares consumable	0.000	0.000	0.000	0.000	0.000
Other current Assets including cash and bank balances and deferred receivable due within one year	2.630	9.093	11.091	12.934	13.759
TOTAL CURRENT ASSETS	49.771	78.688	97.666	117.455	135.332
B CURRENT LIABILITIES
[Other than bank borrowing for working capital]
Creditors for purchases of raw materials and stores and consumable spares	4.618	10.930	11.574	12.292	12.217
Months Consumption	(0.15)	(0.37)	(0.37)	(0.37)	(0.37)
Advances from customers	0.750	3.500	3.750	4.000	4.250
Statutory liabilities	0.000	0.000	0.000	0.000	0.000
Other current liability including short term borrowing dividend payable, installment of DPG public deposit, debentures etc	2.237	8.693	10.193	11.563	11.879
TOTAL	7.606	23.123	25.517	27.855	28.346

------------------------------------------------------------------------------------------------------------------------------

FUND FLOW STATEMENT

(RS. IN MILLIONS)

Particulars	31.03.2012	31.03.2013	31.03.2014	31.03.2015	31.03.2016
	(Projected)
SOURCES
Net profit	3.757	15.701	18.527	21.095	21.657
Depreciation	3.162	6.126	4.983	4.195	3.458
Increase in Capital	17.547	0.000	0.000	0.000	0.000
Increase in Term Liability	27.000	--	--	--	--
Decrease in
- Fixed Assets	--	--	--	--	--
- Other Non Current Assets	--	0.424	0.424	0.424	0.424
Others	--	--	--	--	--
TOTAL SOURCES	51.466	22.251	23.934	25.714	25.539
USES
Net Loss	--	--	--	--	--
Decrease in Term Liability	0.000	6.000	6.000	6.000	6.000
Increase in
- Fixed Assets	37.606	1.850	0.100	0.700	0.200
- Other Non Current Assets	1.696	--	--	--	--
Dividend Payments	0.000	0.000	0.000	0.000	0.000
Other Unsecured Loans	0.000	1.000	1.250	1.562	1.953
TOTAL USES	39.302	8.850	7.350	8.262	8.153
Long Term Surplus (+) Deficit (-)	12.164	13.401	16.584	17.452	17.386
Increase/ Decrease in current Assets (as per details Given Below)	49.770	28.918	18.978	19.790	17.877
Increase/ decrease in current Liabilities other Than Bank Borrowing	7.606	15.517	2.394	2.338	0.491
Increase/ decrease Working Capital Gap	42.164	13.401	16.584	17.452	17.386
Net surplus (+)/ Deficit (-)	(30.001)	0.000	0.000	0.000	0.000
Increase/ decrease in bank borrowing	30.000	0.000	0.000	0.000	0.000
Increase/ decrease in Net Sales	NA	229.244	26.970	26.970	0.000
Break-Up of (4)
Increase/ Decrease in Raw Material	0.000	0.000	0.000	0.000	0.000
Increase/ Decrease in Stock in Process	19.110	2.940	1.470	1.470	0.000
Increase/ Decrease in Finished Goods	13.421	1.951	0.958	0.974	(0.027)
Increase/ Decrease in Receivables
Domestic	14.609	17.564	14.551	15.503	17.079
Export	0.000	0.000	0.000	0.000	0.000
Increase/ Decrease in Other current Assets	2.630	6.462	1.999	1.843	0.825
Total	49.770	28.918	18.978	19.790	17.877

------------------------------------------------------------------------------------------------------------------------------

CASH FLOW STATEMENT

(RS. IN MILLIONS)

Particulars	31.03.2012	31.03.2013	31.03.2014	31.03.2015	31.03.2016
	(Projected)
A. SOURCES
Cash Accruals	6.919	21.827	23.510	25.290	25.115
Increase in Shares Capital	17.547	--	--	--	--
Depreciation	27.000	--	--	--	--
Increase in Lon Term Loan/ Deb.	7.606	15.517	2.394	2.338	0.491
Increase in Other Current Liabilities	--	--	--	--	--
Increase in Unsecured Loans/ Deposit	--	--	--	--	--
Increase in Bank Borrowing for working Capital	30.000	--	--	--	--
Sales of Fixed Assets / investment	--	--	--	--	--
Other	--	0.424	0.424	0.424	0.424
TOTAL SOURCES (A)	89.072	37.768	26.328	28.052	26.030
USES
Preliminary and Pre-operative Expenses	1.696	--	--	--	--
Increase in Capital Expenses	37.606	1.850	0.100	0.700	0.200
Increase in Current Assets
- Inventories	32.531	4.891	2.429	2.444	(0.027)
- Receivable	14.609	17.564	14.551	15.503	17.079
- Others	2.284	6.150	1.455	1.323	0.289
Decrease in Long Term Loans/ Deb.	--	6.000	6.000	6.000	6.000
Decrease in Deferred Payment facilities/ Current Liabilities	--	--	--	--	--
Increase in Investment	--	--	--	--	--
Interests	--	--	--	--	--
Taxation	--	--	--	--	--
Dividend	--	1.000	1.250	1.562	1.953
Other Expenses	--	--	--	--	--
TOTAL DISPOSITION (B)	88.726	37.456	25.785	27.532	25.494
Opening Balance	--	0.345	0.658	1.201	1.721
Net Surplus (A-B)	0.345	0.312	0.543	0.520	0.536
Closing Balance	0.345	0.658	1.201	1.721	2.257

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ASSESSED BANK FINANCE

(RS IN MILLIONS)

Particulars	31.03.2012	31.03.2013	31.03.2014	31.03.2015	31.03.2016
	(Projected)
Total Current Assets	49.770	78.688	97.666	117.456	135.333
Other Current Liabilities (other than bank borrowing)	7.606	23.123	25.517	27.855	28.346
Working capital gap [WCG]	42.164	55.565	72.149	89.601	106.987
Actual/ Projected net working capital	12.164	25.565	42.149	59.601	76.987
Assessed Bank Finance (ABF)	30.000	30.000	30.000	30.000	30.000
NWC/ TCA (%)	24%	32%	43%	51%	57%
Bank finance to TCA (%)	60%	38%	31%	26%	22%
Other CL/ TCA (%)	15%	29%	26%	24%	21%
Sundry Creditors / TCA (%)	9%	14%	12%	10%	9%
Investment/ NS (Days)	50.10	33.30	33.25	33.21	33.19
Received/ Gross Sales (Days)	22.50	28.63	38.98	48.86	62.27
Sundry Creditors/ Purchases (Days)	9.00	11.00	11.00	11.00	11.00

------------------------------------------------------------------------------------------------------------------------------

PERFORMANCE AND FINANCIAL INDICATORS

(RS IN MILLIONS)

Particulars	31.03.2012	31.03.2013	31.03.2014	31.03.2015	31.03.2016
	(Projected)
Net Sales	175.305	404.549	431.519	458.489	458.489
Operating Profit	6.115	24.210	28.491	32.382	33.233
Net Other Income	0.000	0.000	0.000	0.000	0.000
Profit Before Tax	5.691	23.786	28.067	31.958	32.809
PBT/ NS (%)	3.25%	5.88%	6.50%	6.97%	7.16%
Profit After Tax	3.757	15.701	18.527	21.095	21.657
Cash Accruals	6.979	20.887	22.320	23.788	23.222
Paid up Capital	17.547	17.547	17.547	17.547	17.547
Tangible Net worth	19.608	34.733	52.434	72.391	92.519
TNW (Excl. Inv./ TNW)	19.608	34.733	52.434	72.391	92.519
TOL/ TNW	3.29	2.13	1.34	0.92	0.66
Total Term Liabilities/ TNW	1.38	0.60	0.29	0.12	0.03
Current Ratio	1.32	1.48	1.76	2.03	2.32
Total Tangible Assets (TTA)	84.214	108.856	122.951	139.246	153.865
Efficiency Ratios
Net sales / TTA (Times)	2.08	3.72	3.51	3.29	2.98
PBT/ TTA (%)	6.76%	21.85%	22.83%	22.95%	21.32%
Operating Cost/ NS (%)	96.51%	94.02%	93.40%	92.94%	92.75%
Bank Finance/ Current Assets (%)	60.28%	38.13%	30.72%	25.54%	22.17%
Investment + Received/ NS (Days)	72.60	61.93	72.23	82.07	95.46

------------------------------------------------------------------------------------------------------------------------------

Description	At Installed Capacity	1^st Year	2^nd Year	3^rd Year	4^th year	5^th year
		65%	75%	80%	85%	85%
Energy Consumed per month	69600	45240	52200	55680	59160	59160
Energy Consumed Per annum	835200	542880	626400	668160	709920	709920
Actual Charges
Unit Charges @	4.50
(Unit Consumed x Rs.)
Total Energy Charge
Per Month	313200	203580	234900	250560	266220	266220
Per Annum	3758400	2442960	2818800	3006720	3194640	3194640

------------------------------------------------------------------------------------------------------------------------------

PROJECT AT A GLANCE

Name of the Company	Flash Electroprojects Private Limited
Location	Radhakrishnapur, Near Khuntuni, District- Cuttack, Orissa.
Director	Mrs. Anita Tripathy Mr. Biswajit Dasgupta Mr. Susanta Kumar Nayak Mr. Bibhuti Bhusan Pattnaik, Mr. Animesh Rout Mr. Gyana Prakash Samantaray.
Constitution	Private Limited Company
Proposed Project	Cables and Conductors
Materials to be used	Copper, Aluminium, Alloy, XLPE, PVC and GI Wires/ Strips
Feed size	1.5 sq. mm to 400 sq. mm Conductors and all L/T Cables
Proposed size	Around 125000 sq. feet
Capacity of the plant	10 MT/ Day
Power Consumption	232 kw
Capacity Utilization	2011 on ward (app. 75%)
Operation:
Hours Working day	16 hours
No. of shift	2 shift
Operating days/month	25 days
Operating days/Year	300 days
Man Power	34 Nos.
Name of the Banker	Corporation Bank of India
Cost of the Project	Rs.47.547 Millions
Means of Finance
- Term Loan	Rs.30.000 Millions
- Promoters Contribution	Rs.17.547 Millions

INTRODUCTION

A Cable is two or more wires or ropes running side by side and bonded, twisted or braided together to form a single assembly.

In the 19th century and early 20th century electrical cable was often insulated using cloth, rubber and paper. Plastic materials are generally used today, except for high reliability power cables.

Electrical cables may be made more flexible by stranding the wires. In this process, smaller individual wires are twisted or braided together to produce larger wires that are more flexible than solid wires of similar size.

Soon after telegraph cables came into use in the 1840s, attempts were made to lay them across rivers and between islands and mainlands. Most did not work. In 1850 the first cable was laid across the English Channel. The cable had to be strong enough to resist attack by salt water, ocean currents and water pressure, so had a thick, water-resistant cover made of steel. Inside were copper wires that carried the power and signal.

Technical improvements and the demand for faster communications encouraged several companies to manufacture and try laying out cables.

Bunching small wires before concentric stranding adds the most flexibility. Copper wires in a cable may be bare or they may be coated with a thin layer of another material; most often tin but sometimes gold, silver or some other material.

Tin, gold and silver are much less prone to oxidation than copper, which may lengthen wire life and make soldering easier. Light rays during stranding makes the cable extensible. Cables can be securely fastened and organized, such as by using cable trees with the aid of cables ties or cable lacing.

Continuous —flex or flexible cables used in moving application within cable carriers can be secured using strain relief devices or cable ties. Copper corrodes easily and so should be layered with Lacquer. In case of high frequencies, current tends to run along the surface of the conductor and avoid the core. This is known as the [skin effect]. It may change the relative desirability of solid or stranded wires. There are particular design techniques known as shielding, co-axial geometry and twisted-pair geometry.

SHIELDING:

Shielding makes use of the electrical principle of Faraday Cage. Simple shielding of this type is not greatly effective against low-frequency magnetic fields, however such as magnetic hum from a nearby transformer.

CO-AXIAL GEOMETRY:

This design helps to further reduce low-frequency magnetic transmission and pick-up. In this design the foil or mesh shield is perfectly tubular that is with a circular cross section, the inner conductor is situated exactly at its centre. This causes the voltage induced by a magnetic field between the shields.

TWISTED-PAIR GEOMETRY:

The twisted pair is a simple expedient where two wires of a cable, rather than running parallel to each other are twisted around each other, forming a pair of intertwined helices. This causes the voltages induced by a magnetic field between the shield and the core conductor to consist of two nearly equal magnitudes which cancel each other. Field cancellation between successive twists of the pair considerably reduces electromagnetic transmission and pick-up. Power supply cables feeding sensitive electronic devices are sometimes fitted with a series-wired inductor called Choke which blocks high frequencies that may have picked up by the cable, preventing them from passing into the device.

FIRE PROTECTION:

In building construction, electric cable jacket material is a potential source of fuel for fires. To limit the spread of fire along cable jacketing, one may use cables with jacketing that is inherently fire resistant or retardant. To provide fire protection to a cable there are two methods. (a) Insulation material is deliberately added up with fire retardant materials.(b)The copper conductor itself is covered with mineral insulation[MICC] cables, therefore making it more strong enough for a perfect insulation with the bond of copper wire.

BASIC CABLE TYPES:

1. Co-axial Cable

2. Multicore Cable

3. Ribbon Cable

4. Shielded Cable

5. Single Cable

6. Twisted Cable

7. Twisting Pair

PROMOTERS:

Mr. Narsingh Nayak, Mrs. Mamata Nayak, Ms. Anita Tripathy are the ardent promoters of this project.

MR. NARSINGH NAYAK:

Mr. Narsingh Nayak; A businessman who has a thick aura of varied business acumen and achievement to his credit. For the last decade, transportation has been the flagship activity of this top seeded businessman. He is the director of a company named Annapurna Logistics Private Limited. Which has a turnover of approximately 300.000 Millions. Heavily loaded with an army of vehicles and other equipments he definitely has the credibility to cast out any other business concern. He shall definitely be successful as he is adequately equipped with financial capability, focused determination and above all the professionally well managed business platform Adding feather to the caphis involvement in the iron ore crushing unit has propelled him to evolve as a ranking crusher unit promoter. He is a professional manager, a good tax payer, has a good safety record and developed a society of employees who are proud of his honesty and competence. Now he intends to pursue excellence in related and unrelated field of diversification as well as strive to better serve all its stake holders through manpower and capacity expansion, infrastructure and know-how generation. His determination, foresight and analytical capabilities with the business acumen will definitely have a bright future for Mr. Narsingh Nayak.

MRS. MAMATA NAYAK:

A lady with vision Mrs. Nayak started her career as an industrialist’s wife and then she smoothly switched over to a domain of transportation in the mines sector. Much experience was not required as she was well assimilated in the business world by her husband. Eventually she set up her own empire and is presently one of the most successful transporters in the Sundargarh region.

MRS. ANITA TRIPATHY:

A post graduate in psychology, she started her career in education as one of the project in charge of DPEP where to come to terms with the pitfalls of Primary Education was the headway of this lady. Eventually she gave up her pursuit due to a few avid reasons. Transporting coal was the small venture of this homemaker who was a partner in Sarala Suppliers. Adding a little effort she dared to step into the happening Real Estate business and is one of the directors of a company named Ammon Constructions Private Limited. She is also engaged in transporting business. Stretching a little from trading to manufacturing she entered the Cable Manufacturers guild with a few partners and is presently very much determined to have set her foot firmly in this business.

MR. BISWAJIT DASGUPTA

A person of dynamism, having his principal profession of consultancy and Liasoning, though not having much experience in the field of manufacturing now enters in to the guild of manufacturing cables as a promoter with few others. With his skill and expertise in the field of consultancy and liasoning, he can become a successful promoter of the new project of cable manufacturing. Presently he is the director of the consultancy company Nebulus consultancy private Limited.

MR. SUSHANTA KUMAR NAYAK:

Experience always gives advantage. Mr. Nayak a very determined person, after completing ‘Diploma in Electrical Engineering’ he served many companies in various capacities for last 12 years. His specialization in almost all companies he served is quality control. Widening his scope of responsibility he now promotes this cable manufacturing unit. As a professional and having more than 12 years experience in the field of cable manufacturing now energized to explore as a businessman with his own project and very, determined to accelerate in this manufacturing field.

MR. ANIMESH ROUT

After completion of MBA (Ignou), Post graduation in labour welfare and personnel management and LLB from Utkal University Mr. Rout has served several, company like ICICI, Airtel and Top Energy Limited as personnel Manager for last 12 years. His experience will definitely help Immensely for the growth of the company.

MR. BIBHUTI BHUSAN PATTNAIK

Mr. Pattnaik has completed his M.Com. and LLB from Dhenkanal. Mr. Pattnaik is engaged in civil and electrical construction work for the last fifteen years. Presently he has made up his mind to go into manufacturing of cable and conductor. His experience will help in the growth of the company.

LOCATION:

The cable manufacturing unit has been set up at Radhakrishnapur which is the best location as per the environmental standards. Engulfed with dense forest on three sides, it is a wide and open space which has all the qualities of a suitable for a perfect industrial setup. It lies in the border of Cuttack and Dhenkanal district besides N.H-55 and is exactly 15 kms. From the Dhenkanal Railway Station. Khuntuni is the nearest market place which is a couple of kms. Away from this place. A well developed railway siding is present at a distance of 40 kms. From this place. This location has an extra advantage of being very well connected to road as well as railway transport. The frontage of this area directly faces N.H-55 as a result of which connectivity is a strong perimeter of this location. The size of this land stretches to an area of 15 kms. Therefore making it largely spacious for a huge industrial set up. The land is in the name of the promoters out of which they have registered 3 acres in the name of the company which is more than sufficient for this type of industry.

Availability of Raw Materials

The main raw material required for a cable unit is aluminum which can be procured from Nalco which is 60 kms from this place and also from Utkal Alumina, Jharsuguda, which is around 200kms, from this place. Other raw materials can be procured from Cuttack which is 20 kms, from this place.

Availability of Power

There is no hassle for power supply as electricity connection has been obtained from 33 kv line of this area of khuntuni. CESCO, the power supply unit has consented to provide 750to 1000 kv of power to this plant. Laying of electric pole has already been completed by the company.

Availability of Water

Radhakrishnapur is a village rich in agriculture and has an advantage of abundant water supply. The ground water table falls at a depth of three to four feet below ground level. So, water which is the most essential element in an industrial unit is not at all a problem.

Availability of Work Force;

The skilled and semiskilled workforce required for the above unit will be available locally.

MANUFACTURING PROCESS:

Basic on construction and cable properties it can be sorted into the following;

1. Mineral-insulated copper-clad cable

2. Twin ax cable

3. Flexible cable

Modern power cables come in a variety of sizes, materials and types, each particularly adapted to its uses. Large single insulated conductors are also sometimes called power cables in the industry.

Cables consist of three major components: conductors, insulation, and protective jacket. The makeup of individual cables varies according to application. The construction and material are determined by three main factors:

• Working voltage determining the thickness of the insulation;

• Current -carrying capacity, determining the, cross-sectional size;

• Environmental conditions such as temperature, water, chemical or sunlight exposure, and mechanical impact, determining the form and composition of the outer cable jacket.

Cables for direct burial or for exposed installations may also include metal armor in the form of wires spiraled around the cable, or a corrugated tape wrapped around it. The armor may be made of steel or aluminum and although connected to earth ground is not intended to carry current during normal operation.

Power cables use stranded copper or aluminum conductors, although small power cables may use solid conductors. The cable may include uninsulated conductors used for the circuit neutral or for Ground (earth) connection.

The overall assembly may be round or flat. On -conducting filler strands may be added to the assembly to maintain its shape. Special purpose power cables for overhead or vertical use may have Additional elements such as steel or Kevlar structural supports.

Some power cables for outdoor overhead use may have no overall sheath. Other cables may have a plastic or metal sheath enclosing all the conductors. The material for the sheath will be selected for resistance to water, oil, sunlight, underground conditions, chemiesclyapors, impact or high temperatures. In nuclear industry applications the cables may have special requirements for ionizing radiation resistance. Cable materials may be specified not to produce large amount of smoke if burned. Cables intended for underground use or direct burial in earth will have heavy plastic or metal, most often lead sheaths, or may require special direct-buried construction. When cables must run where exposed to mechanical impact damage, they might be protected with flexible steel tape or wire armor, which may also be covered by a water resistant jacket.

HIGHER VOLTAGES:

For circuits operating at or above 2,000 volts between conductors conductive shield may surround each insulated conductor. This equalizes electrical stress on the insulation. This technique was patented by Martin Hochstetler in 1916, the shield is sometime Hochstetler. The individual conductor shields of cables are connected to earth group at the ends of the cable, and at locations along the length Income Tax Act 1961 voltage rise during faults would be daterous.

Cables for power distribution of 10 Ky or higher may be insulated with oil and paper, and are run in a rigid steel pipe, semi-rigid aluminum or lead sheath. For higher voltages the oil may be kept under pressure to prevent formation of voids that would allow partial discharges within the cable insulation.

Modern high voltage cables use polymers or polyethylene, including (XLPE) for insulation.

They ask for special techniques for jointing and determination.

Most multiconductor cables to day have a bare insulated grounding or bonding wire which is for connection to earth ground. The grounding conductor connects economent enclosures to ground for protection from electric shock.

Electrical power cables are often installed in raceways, including electrical conduit and cable trays, which may contain one or more conductors.

A hybrid cable can include conductors for control signals or may also include optical fibers for data.

FLEXIBLE CABLE:

All electrical cables are some what flexible, allowing them to be shipped to installation sites wound on reels or drums. ‘Where applications require a cable to be moved repeatedly, such as for portable equipment, more flexible cables called “cords” or “flex” are used. Flexible cords contain fine stranded conductors, not solid core conductors, and have insulation and sheaths to withstand the Forces of repeated flexing and abrasion. Heavy duty flexible power cords such as those feeding Mine face cutting machine are carefully engineered-their life is measured in weeks. Very flexible power cables are used in automated machinery, robotics, and machine tools.

SPECIAL CABLE TYPES

1. Arresting cable

2. Bowden cable

3. Heliax Cable

4. Direct-buried cable

5. Elevator cable

6. Heavy lift cable

MARKET INFORMATION:

1. Integer Research limited.

2. International cable maker’s federation

3. Wire Association International

APPLICATION

1. Wire Rope (Wire Cable)

2. Audiovisual Cable

3. Bicycle Cable

4. Communications Cable

5. Computer Cable

6. Mechanical Cable

7. Sensing Cable

8. Submersible Cable

Single core power cable with copper or Aluminum conductors from 2.5sq.mm to 400 sq. mm armored or unarmored with G.I wire/ Strip and also non magnetic material and overall PVC sheathed. Or

Two, three or four core cables with copper or Aluminium conductors solid or stranded from 2.5 Sq. mm to 185 Sq mm.

Three and half core power cable with stranded copper or aluminum conductor from 25 sq. mm to 400 sq. mm armored or un-armored control cables single to 61 core of 1.5 sq. mm and 2.5sq.mm with copper or aluminium conductors solid or stranded.

COPPER

It has the best conductivity in comparison to other metals. Any how the conductivity depends on the imparities.

· It has low specific resistance.

· Copper can be obtained homogeneously.

· Durability (Lasting is more)

· Suitability for higher current densities.

ALUMINIUM

Pure aluminium is soft, ductile, and corrosion resistant and has a high electrical conductivity. In consequence it is widely use for foil and conductor cables. But alloying with other elements is necessary to provide the higher strengths needed for other applications.

MARKET POTENTIAL

India is a developing country with a fast growing population. The economic growth of the country and the demand for any essential items grows as a function of population. Electrical power demand also grows as a function of population. In today’s modern world the dependence on electricity is so much that it has become a part of the life. The ever increasing use of electric power for domestic, commercial and industrial purposes necessitate to provide bulk electric power economically. The present generation capacity is about 1,05,000 MW, but projected demand by 2012 is 2,05,000 MW i.e. an extra 1,00,000 MW has to be produced to meet the demand. The electrical energy is normally generated at the power stations far away from the urban areas where consumers are located. In order to evacuate this generated power at the door steps at end user, there is a large network of transmission and distribution system including the aluminum conductors and aerial bunched cable.

‘When each work and corner of India is heading towards electrification Orissa no longer lags behind rural electrification schemes has hit the priority list of the government agenda. Industrialization demand a mammoth amount of electricity use and complementing it the agro industrial sector has opened out its path is the rural area. The government of Orissa has vowed to provide electricity the remotest villages of the state, which is worth apprising of.

The main stalwarts of electricity suppliers are CESU, WESCO, NESCO, SOUTHCO, who play a pivotal role in the distribution of electricity. Electricity is derived from OPGC and is reached out to the consumers through cables and conductors. There is a huge requirement of cables in this process of distribution.

The electrical contractors of Orissa are always in search of huge amount of cables and conductors in their activities. Therefore it is clear that cables manufacturing unit has a great market potential in the above sector.

It is crystal clear that as industrialization is the forefront of development, a definitely requires the use of electricity and the market potential for cables and conductors is very high.

(RGGVY) Rajiv Gandhi Grameen Vidyutikaran Yojana is an electrification scheme sponsored by both the centre and state governments. This scheme is carved out for providing electricity in the rural area under NCMP. Undertakings like NESCO, WESCO, SOUTHCO, Rural Electrification Corporation are the agencies which play a role in the sector, therefore to cover the wide area of thirty districts of the state a huge amount of cables and conductors are being required.

BJJ (Biju Jyoti Jojana) the Biju Jyoti Jojana is another scheme of the state government of Orissa which runs parallel to the (RGGVY) and it has the same motto of providing electricity to one and all in the villages. It is evident that cables and conductors are required for the implementation of the scheme posing a high market potential unit.

Lastly apart from rural electrification scheme and industrialization, the concept of housing in the urban and rural areas is on the rise. In the cities tall buildings are mushrooming, civil constructions in the form of houses, educational institutions are continuously worked out therefore electricity is a major factor for the same. Keeping in demand for the civil works it is evident that cables and conductors have a very high market potential in the present and also in the futures.

MACHINERY INSTALLATIONS:

A team of technical experts headed by one of the directors by Mr. Sushant Nayak has taken the responsibility of machine installation. They are experienced and capable enough to install the required machinery. Apart from this the supplier of machinery will depute their technical staff at the time of machine installation.

FEATURES OF MACHINES:

1. Wire drawing Machine: - On receipt of material from supplier in size of approximately 9.5 mm diameters, EC grade aluminum wire rod shall be directly drawn to final size as per customer specification and wound in the bobbins. Process parameters shall be referred from standards wherever it is applicable.

2. Ageing oven: - The purpose of this process is to remove the stresses and to get fine grains elongation in the wire, Also, to increase the conductivity and UTS within the aged wire.

The principle of artificial ageing to heat up to the required temperature and soaking of material for particular time period as per plant standard, so that solidified grains of mg2 sic will then retain its precipitate state as in wire. The mechanical and electrical properties will be uniform after artificial which will be tested and ensured by quality department and recorded in standard format.

3. Final stranding /Tubular: - The tested wires are segregated based on the properties of wire. The accepted bobbins shall be taken for stranding process. It involves 7 stranding and multi layer stranding as per customer specification. Which is final process of making conductor: The customer specification is being followed and ensured by the quality department for the finished products i.e. complete conductor and results are recorded in the specified format.

4. Extruder: - It consists of screw, Barrel, cross -head with extrusion tools, Granule loader and Master Batch Dozer. Insulation of proper thickness and colour can be provided here.

a).Cooling Trough – The purpose of having cooling trough on the line is to have the uniform cooling of the insulation, so that no deformation of insulation takes place at the time of winding it on the bobbin at take-up. The cooling trough is divided in to three sections.

b) Air wiper unit — The Function of this unit is to wipe the water traces from the insulated wire before it enters in to ODAC.

C) Spark Tester — This instrument ensures integrity of the insulation. The number of faults can also be recorded.

5. Laying up : - This line we make cable take by proper insulation and messenger. The units identified by ridges or coloured .this machine consists of following

a) pay off for 1250 mm flanged dia steel reels

b) Counter meter

c) Capstan

d) Take-up

6. Rewinding Machine: - The Finished cables are rewinded into despatchable wooden drums in standard lengths. The rewinded cables after testing and inspection are transfer to dispatch section for further action.

------------------------------------------------------------------------------------------------------------------------------

STATEMENT OF ASSETS AND LIABILITIES

MR. BISAJIT DASGUPTA

(RS. IN MILLIONS)

ASSETS

IMMOVABLE PROPERTY

Address of the property with survey No. etc.	M/G -51, Samant Vihar, Radhakrushnagar, Cuttack, Orissa, India
Description: Land/ Site/ Building	Building/ Land
Whether – Freeholds/ Leasehold	Freehold
Type of Property: Commercial / Residential/ Agricultural	Residential
Area / extent of Land	2400 sq. ft. / 73.32
Mortgaged for availing loan of any, details thereof	Nil
Present Market/ Assessed Value	Rs.0.998 Million

INVESTMENT IN BUSINESS CAPITAL

Name of the Company/ firm/ concern in Which Investment is made	Flash Electro Projects (Private) Limited Nebulus Consultants Private Limited
Present Value of Investment	Rs.0.550 Million

LIFE INSURANCE POLICY

Surrender Value

Rs.0.732 Million

VEHICLES OWNED

Model/ Make	2007
Whether hypothecated for loan	ICICI
Present Market Value	Rs.1.150 Millions

OTHER ASSETS

Furniture and Fixtures	0.007
Cash in Hand	0.301
Jewellery	0.900
Total Value of other Assets	Rs.1.208 Millions

TOTAL ASSETS

RS.4.638 MILLIONS

LIABILITIES

FURNISH LOANS AVAILED FROM BANKS/ FINANCIAL INSTITUTIONS AND OTHER BORROWINGS

Name of the Bank/ Institution	ICICI Bank
Nature/ Type of Loans	Vehicles Loans
AMOUNT OUTSTANDING (TOTAL LIABILITIES)	RS.0.480 MILLION

NET PROFIT

RS.4.158 MILLIONS

MR. BISAJIT DASGUPTA

COMPUTATION OF INCOME AND TAX

(RS. IN MILLIONS)

Particulars	2009-10
Income From Business and profession
Income as per P & L A/c	0.157
Income from salary
Salary Received from Nebulus Consultancy Private Limited	0.120
Income From Other Sources
Brokerage and Commission Received	0.233
GROSS TOTAL INCOME	0.510
Deduction Under chapter VIA	0.100
TOTAL INCOME	0.410
Tax On Total Income	0.037
Education Cess and Higher Education Cess @ 3%	0.001
Total Tax and cess payable	0.038
Less: Tax Deducted at Sources	0.038
Balance Tax Refundable	--

BALANCE SHEET

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.089
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		0.089
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.089
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.008
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.052
	Other Current Assets	0.038
	Loans & Advances	0.000
Total Current Assets		0.090
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.000
	Other Current Liabilities	0.009
	Provisions	0.000
Total Current Liabilities		0.009
Net Current Assets		0.081
MISCELLANEOUS EXPENSES		0.000
TOTAL		0.089

PROFIT & LOSS ACCOUNT

(RS. IN MILLIONS)

	PARTICULARS		31.03.2009
	SALES
		Income (Gross Transport Bills Received)	3.358
		Other Income	0.000
		TOTAL (A)	3.358
Less	EXPENSES
		Transportation Charges Paid	3.089
		Salary and wages	0.057
		Travelling and Conveyance	0.013
		House Rent	0.024
		Telephone and Mobile Charge	0.005
		Printing and Stationery	0.002
		News Paper and Periodicals	0.001
		Staff Welfare	0.003
		Guest Entertainment	0.002
		Repairs and Maintenance	0.001
		Puja Expenses	0.001
		Audit Fees	0.002
		TOTAL (B)	3.200
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.158
Less	FINANCIAL EXPENSES (D)		0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.158
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.001
	PROFIT TRANSFERRED TO B/S (E-F) (G)		0.157

------------------------------------------------------------------------------------------------------------------------------

STATEMENT OF ASSETS AND LIABILITIES

MRS. ANITA TRIPATHY

(RS. IN MILLIONS)

ASSETS

IMMOVABLE PROPERTY

Address of the property with survey No. etc.	Plot No. G A-140, Niladree Vihar, S-1/35, Niladree Vihar, Radhakrishnapur
Description: Land/ Site/ Building	Land / Building
Whether – Freeholds/ Leasehold	Freehold
Type of Property: Commercial / Residential/ Agricultural	Residential
Area / extent of Land	5400 sq. ft./ 1161 sq. ft./ 2.85 Acres
Mortgaged for availing loan of any, details thereof	Two Property for Housing Loan
Present Market/ Assessed Value	Rs.6.809 Millions

INVESTMENT IN BUSINESS CAPITAL

Name of the Company/ firm/ concern in Which Investment is made	Arman Infraprojects (Private) Limited Flash Electro Projects (Private) Limited
Present Value of Investment	Rs.1.159 Millions

LIFE INSURANCE POLICY

Surrender Value

Rs.0.366 Millions

OTHER ASSETS

Cash in Hand	0.292
Jewellery	0.550
Total Value of other Assets	Rs.0.842 Million

TOTAL ASSETS

RS.9.176 MILLIONS

LIABILITIES

FURNISH LOANS AVAILED FROM BANKS/ FINANCIAL INSTITUTIONS AND OTHER BORROWINGS

Name of the Bank/ Institution	Indian Bank State Bank of India
Nature/ Type of Loans	Housing Loans
AMOUNT OUTSTANDING (TOTAL LIABILITIES)	RS.4.650 MILLIONS

NET PROFIT

RS.4.526 MILLIONS

MRS. ANITA TRIPATHY

STATEMENT OF INCOME

(RS. IN MILLIONS)

Particulars	2009-10
Income from House property
Gross Annual Value	0.050
Less: Municipal Tax Paid	--
Net Annual Value	0.050
Less: Standard Deduction U/s 24 (A)	0.015
Less: Interests on Housing Loan	--
Income chargeable Under the Head House property		0.035
Income From Business and profession
Net profit as per profit and loss account	0.704
Gross Receipt from Civil Construction - 2240960
Presumptive Income u/s 44 AD @ 8%	0.179
Income Chargeable under the head Business or Profession		0.883
Income From Other Sources
Brokerage and Commission Received		0.126
GROSS TOTAL INCOME		1.044
Deduction Under chapter VIA		0.100
LIC	0.100
Total	0.100
TOTAL INCOME		0.944
TAX CALCULATION
Tax On above Income		0.185
Education Cess @ 3%		0.006
Income Tax and Education Cess payable		0.191
Less: Tax Deducted at Sources		0.191
Balance Tax Refundable		--

BALANCE SHEET

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		1.246	0.296
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		1.246	0.296
LOAN FUNDS
1] Secured Loans		1.960	0.000
2] Unsecured Loans		1.750	0.000
TOTAL BORROWING		3.710	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		4.956	0.296
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.262	0.026
Capital work-in-progress		0.000	0.000
INVESTMENT		0.859	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	0.316	0.319
	Other Current Assets	0.840	0.148
	Loans & Advances	0.191	0.000
Total Current Assets		1.347	0.467
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	2.480	0.000
	Other Current Liabilities	0.027	0.035
	Provisions	0.005	0.162
Total Current Liabilities		2.512	0.197
Net Current Assets		(1.165)	0.270
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		4.956	0.296

PROFIT & LOSS ACCOUNT

(RS. IN MILLIONS)

	PARTICULARS		31.03.2009	31.03.2008
	SALES
		Income (Gross Transport Bills Received)	18.273	12.643
		Other Income	0.009	0.002
		TOTAL (A)	18.282	12.645
Less	EXPENSES
		Transportation Charges	17.077	11.677
		Administrative and Other Expenses	0.391	0.571
		TOTAL (B)	17.468	12.248
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.814	0.397
Less	FINANCIAL EXPENSES (D)		0.092	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.722	0.397
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.018	0.008
	NET PROFIT (E-F) (G)		0.704	0.389

------------------------------------------------------------------------------------------------------------------------------

STATEMENT OF ASSETS AND LIABILITIES

NAME OF THE GUARANTOR: MRS. SASWATI DASGUPTA

(RS. IN MILLIONS)

ASSETS

IMMOVABLE PROPERTY

Address of the property with survey No. etc.	Radhakrishna Pur, Athagarh, Cuttack
Description: Land/ Site/ Building	Land
Whether – Freeholds/ Leasehold	Freehold
Type of Property: Commercial / Residential/ Agricultural	Residential
Area / extent of Land	A 1.41 dec.
Mortgaged for availing loan of any, details thereof	Nil
Present Market/ Assessed Value	Rs.0.297 Million

INVESTMENT IN BUSINESS CAPITAL

Name of the Company/ firm/ concern in Which Investment is made	Flash Electro Projects (Private) Limited
Present Value of Investment	Rs.0.300 Million

LIFE INSURANCE POLICY

Surrender Value

Rs.0.280 Million

OTHER ASSETS

Furniture and Fixtures	0.012
Cash in Hand	0.125
Jewellery	0.550
Total Value of other Assets	Rs.0.687 Million

TOTAL ASSETS

RS.1.564 MILLIONS

NET PROFIT

RS.1.564 MILLIONS

MRS. SASWATI DASGUPTA

STATEMENT OF INCOME

(RS. IN MILLIONS)

Particulars	2009-10
Income From Business and profession
Net profit as per profit and loss account	0.225
Income From Other Sources
Brokerage and Commission Received	0.089
GROSS TOTAL INCOME	0.314
Deduction Under chapter VIA	0.100
LIC Premium paid Rs.100000
Total	0.100
TOTAL INCOME	0.214
Tax on Total Income	0.003
Education and Secondary and higher education Cess @ 3%	0.000
Total Tax and Cess payable	0.003
Less: Tax Deducted at Sources	0.035
Balance Tax Refundable	0.032

BALANCE SHEET

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.03.2008	31.03.2007
SHAREHOLDERS FUNDS
1] Share Capital		0.206	0.165
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		0.206	0.165
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		0.206	0.165
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.018	0.026
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	0.099	0.078
	Other Current Assets	0.097	0.073
	Loans & Advances	0.001	0.004
Total Current Assets		0.197	0.155
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.000	0.000
	Other Current Liabilities	0.006	0.011
	Provisions	0.003	0.005
Total Current Liabilities		0.009	0.016
Net Current Assets		0.188	0.139
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		0.206	0.165

PROFIT & LOSS ACCOUNT

(RS. IN MILLIONS)

	PARTICULARS		31.03.2008	31.03.2007
	SALES
		Income (Gross Transport Bills Received)	2.146	4.084
		Other Income	0.067	0.000
		TOTAL (A)	2.213	4.084
Less	EXPENSES
		Transportation Charges	1.961	3.729
		Administrative and Other Expenses	0.099	0.179
		TOTAL (B)	2.060	3.908
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.153	0.176
Less	FINANCIAL EXPENSES (D)		0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.153	0.176
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.009	0.020
	NET PROFIT (E-F) (G)		0.144	0.156

------------------------------------------------------------------------------------------------------------------------------

STATEMENT OF ASSETS AND LIABILITIES

MR. ANIMESH ROUT

(RS. IN MILLIONS)

ASSETS

IMMOVABLE PROPERTY

Address of the property with survey No. etc.	Kunjakanta
Description: Land/ Site/ Building	Land
Whether – Freeholds/ Leasehold	Freehold
Type of Property: Commercial / Residential/ Agricultural	Agricultural
Present Market/ Assessed Value	Rs.0.256 Million

INVESTMENT IN BUSINESS CAPITAL

Name of the Company/ firm/ concern in Which Investment is made	Flash Electro Projects (Private) Limited
Present Value of Investment	Rs.0.250 Million

LIFE INSURANCE POLICY

Surrender Value

Rs.0.250 Million

VEHICLES OWNED

Model/ Make	2007 – Hero Honda
Present Market Value	Rs.0.050 Million

OTHER ASSETS

Cash in Hand	0.120
Jewellery	0.320
Total Value of other Assets	Rs.0.440 Million

TOTAL ASSETS

RS.1.246 MILLIONS

NET PROFIT

RS.1.246 MILLIONS

------------------------------------------------------------------------------------------------------------------------------

STATEMENT OF ASSETS AND LIABILITIES

MR. BIBHUTI BHUSAN PATNAIK

(RS. IN MILLIONS)

ASSETS

INVESTMENT IN BUSINESS CAPITAL

Name of the Company/ firm/ concern in Which Investment is made	Flash Electro Projects (Private) Limited
Present Value of Investment	Rs.0.250 Million

LIFE INSURANCE POLICY

Surrender Value

Rs.0.150 Million

VEHICLES OWNED

Model/ Make	2007 (Maruti – 800)
Present Market Value	Rs.0.210 Million

OTHER ASSETS

Cash in Hand	0.225
Jewellery	0.350
Total Value of other Assets	Rs.0.575 Million

TOTAL ASSETS

RS.1.185 MILLIONS

NET PROFIT

RS.1.185 MILLIONS

------------------------------------------------------------------------------------------------------------------------------

STATEMENT OF ASSETS AND LIABILITIES

MR. SUSHANTA KUMAR NAYAK

(RS. IN MILLIONS)

ASSETS

INVESTMENT IN BUSINESS CAPITAL

Name of the Company/ firm/ concern in Which Investment is made	Flash Electro Projects (Private) Limited
Present Value of Investment	Rs.0.200 Million

LIFE INSURANCE POLICY

Surrender Value

Rs.0.066 Million

VEHICLES OWNED

Model/ Make	2007
Present Market Value	Rs.0.025 Million

OTHER ASSETS

Cash in Hand	0.150
Jewellery	0.100
Total Value of other Assets	Rs.0.250 Million

TOTAL ASSETS

RS.0.541 MILLION

NET PROFIT

RS.0.541 MILLION

------------------------------------------------------------------------------------------------------------------------------

STATEMENT OF ASSETS AND LIABILITIES

MR. GYANA PRAKASH SAMANTARAY

(RS. IN MILLIONS)

ASSETS

INVESTMENT IN BUSINESS CAPITAL

Name of the Company/ firm/ concern in Which Investment is made	Flash Electro Projects (Private) Limited Future Hitech Projects (Private) Limited
Present Value of Investment	Rs.0.375 Million

LIFE INSURANCE POLICY

Surrender Value

Rs.0.175 Million

VEHICLES OWNED

Model/ Make	2008
Present Market Value	Rs.0.065 Million

OTHER ASSETS

Cash in Hand	0.245
Jewellery	0.350
Total Value of other Assets	Rs.0.595 Million

TOTAL ASSETS

RS.1.210 MILLION

NET PROFIT

RS.1.210 MILLION

MR. GYANA PRAKASH SAMANTARAY

STATEMENT OF INCOME

(RS. IN MILLIONS)

Particulars	2008-09
Income From Business and profession
Net profit as per profit and loss account	0.320
Income From Other Sources
Brokerage and Commission Received	0.028
GROSS TOTAL INCOME	0.348
Deduction Under Section 80 C	--
LIC Premium paid --
TOTAL INCOME	0.348
Tax on Total Income	0.053
Education Cess	0.002
Total Tax and Cess payable	0.055
Less: Tax Deducted at Sources	0.066
Balance Tax Refundable	(0.011)

BALANCE SHEET

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.03.2008	31.03.2007
SHAREHOLDERS FUNDS
1] Share Capital		0.137	0.101
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		0.137	0.101
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		0.137	0.101
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.018	0.026
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	0.099	0.057
	Other Current Assets	0.120	0.054
	Loans & Advances	0.003	0.003
Total Current Assets		0.222	0.114
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.000	0.000
	Other Current Liabilities	0.038	0.029
	Provisions	0.065	0.010
Total Current Liabilities		0.103	0.039
Net Current Assets		0.119	0.075
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		0.137	0.101

PROFIT & LOSS ACCOUNT

(RS. IN MILLIONS)

	PARTICULARS		31.03.2008	31.03.2007
	SALES
		Income (Gross Transport Bills Received)	9.826	4.668
		Other Income	0.000	0.000
		TOTAL (A)	9.826	4.668
Less	EXPENSES
		Transportation Charges	9.009	4.269
		Administrative and Other Expenses	0.488	0.231
		TOTAL (B)	9.497	4.500
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.329	0.168
Less	FINANCIAL EXPENSES (D)		0.001	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.328	0.168
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.008	0.018
	PROFIT BEFORE TAX (E-F) (G)		0.320	0.150
Less	TAX (H)		0.055	0.005
	PROFIT AFTER TAX (G-H) (I)		0.265	0.145

------------------------------------------------------------------------------------------------------------------------------

STATEMENT OF ASSETS AND LIABILITIES

NAME OF THE GUARANTOR: MR. PARTHA SARATHI MISHRA

(RS. IN MILLIONS)

ASSETS

IMMOVABLE PROPERTY

Address of the property with survey No. etc.	--
Description: Land/ Site/ Building	Land
Type of Property: Commercial / Residential/ Agricultural	Residential
Present Market/ Assessed Value	Rs.0.342 Million

SHARES/ DEBENTURES/ MUTUAL FUND/ UNITS ETC.

Present Value

Rs.0.050 Million

LIFE INSURANCE POLICY

Surrender Value

Rs.0.793 Million

VEHICLES OWNED

Model/ Make	Verna, Hundai
Date of Purchases	02.01.2007
Whether Hypothecated for Loan	Bank of India
Details of Loan against Vehicles	0.351
Present Market Value	Rs.0.736 Million

OTHER ASSETS

Furniture and Fixtures	0.025
Cash in Hand	0.175
Jewellery	0.300
Total Value of other Assets	Rs.0.500 Million

TOTAL ASSETS

RS.2.421 MILLION

LIABILITIES

FURNISH LOANS AVAILED FROM BANKS/ FINANCIAL INSTITUTIONS AND OTHER BORROWINGS

Name of the Bank/ Institution	Bank of India
Nature/ Type of Loans	Vehicles Loans
AMOUNT OUTSTANDING (TOTAL LIABILITIES)	RS.0.351 MILLIONS

NET PROFIT

RS.2.070 MILLION

MR. PARTHA SARATHI MISHRA

STATEMENT OF INCOME

(RS. IN MILLIONS)

Particulars	2010-11
Income From Business and profession
Net profit as per profit and loss account		0.389
Income From Other Sources		0.216
Gross Commission Received	0.194
Less: Expenses	0.036
Net Income	0.158
Income from Other Head	0.073
Less: Expenses	0.015
Net Income	0.058
GROSS TOTAL INCOME		0.605
Deduction Under Section 80 C		0.051
TOTAL INCOME		0.554
Tax on Total Income		0.070
Education Cess @ 3%		0.002
Total Tax and Cess payable		0.072
Less: Tax Deducted at Sources		0.047
Balance Tax Payable		0.025
Balance Tax Payable
Interests U/s 234 A		0.002
Interests U/s 234 B		0.003
Interests U/s 234 C		0.001
Total Interests and Tax Payable		0.031

BALANCE SHEET

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		0.621	0.485	0.318
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		0.621	0.485	0.318
LOAN FUNDS
1] Secured Loans		0.317	0.377	0.399
2] Unsecured Loans		0.159	0.194	0.150
TOTAL BORROWING		0.476	0.571	0.549
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1.097	1.056	0.867
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.490	0.557	0.675
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.028	0.028	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	0.274	0.073	0.063
	Other Current Assets	0.013	0.167	0.176
	Loans & Advances	0.300	0.310	0.010
Total Current Assets		0.587	0.550	0.249
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.000	0.000	0.000
	Other Current Liabilities	0.008	0.018	0.000
	Provisions	0.000	0.061	0.057
Total Current Liabilities		0.008	0.079	0.057
Net Current Assets		0.579	0.471	0.192
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1.097	1.056	0.867

PROFIT & LOSS ACCOUNT

(RS. IN MILLIONS)

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Taxation and Allied Matters	0.036	0.185	0.129
		Audit Fees	0.904	0.531	0.498
		Filing Fees	0.046	0.000	0.000
		Certification Fess	0.000	0.017	0.000
		Bank Interests	0.000	0.000	0.000
		Accounting Charges	0.000	0.123	0.081
		Consultancy Charges	0.000	0.096	0.081
		TOTAL (A)	0.986	0.952	0.789
Less	EXPENSES
		Staff Salary	0.195	0.152	0.154
		Office Rent	0.096	0.066	0.066
		Electricity Charges	0.020	0.020	0.020
		Telephone and Mobile Expenses	0.018	0.024	0.019
		Printing and Stationery	0.023	0.013	0.012
		Travelling and Conveyance	0.033	0.012	0.013
		Other Expenses	0.049	0.055	0.065
		TOTAL (B)	0.434	0.342	0.349
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.552	0.610	0.440
Less	FINANCIAL EXPENSES (D)		0.041	0.048	0.058
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.511	0.562	0.382
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.122	0.118	0.143
	NET PROFIT (E-F) (G)		0.389	0.444	0.239

------------------------------------------------------------------------------------------------------------------------------

VALUATION REPORT IN RESPECT OF LAND AND BUILDING

Purpose for which the valuation is made	To avail Loan from Bank
Date of inspection	19.01.2011
Date on which the valuation is made	04.02.2011
Name of the borrower	M/s Flash Electro Projects Private Limited Sri. Biswajit Dasgupta, S/o- Anutosh Dasgupta, At- Rathagada, Ps- Dhenkanal Town, Dist- Dhenkanal.
Brief description of the property	Land and Building
Postal Address of the property	Mouza—Radhakrishnapur, Ps-Athagarh, Ts- Athagarh, District – Cuttack.
City/ Town	Village
Residential area/ Commercial area/ Industrial area!	Residential cum Industrial area
Classification of the area
High/ Middle/ Poor	Middle
Urban/ Semi-Urban/ Rural	Rural
Coming wader Corporation limit/ Village Panchayat/ Municipality	Village Panchayat
Dimensions of the site	As per revenue map
Extent of the site	Ac.12.17 dcc. or say 530123.2 sq. ft.
Extent of the site considered for Valuation least	Ac.12.17 dec. or say 530125.2 sq. ft.
Weather occupied by the owner/ tenant? If occupied by tenant since how long? Rent received per month	Owner
CHARACTERISTICS OF THE SITE
Classification of locality	Middle
Development of surrounding area	Developed
Possibility of frequent flooding	No
Availability of the civic amenities like school, hospital, Bus stop, Market etc.	Within 1 to 15 km
Level of land with topographical conditions.	Leveled
Shape of land	Irregular
Type of use to which it can be put	Residential
Any usage restriction	No
Is plot in town Planning approved layout	NA
Corner plot or intermittent plot	Intermittent Plot
Road facilities	Yes
Type of road available at present	Bitumen
Width of road is it below 20ft or more than 20ft	Above 20 ft.
Is it a Land – Locked Land?	No
Water potentiality	Yes
Underground sewerage system	No
Power supply is available in the site	Yes
PART – A (VALUATION OF LAND)
Size of plot	Irregular
Total extent of the plot	Ac.12.17 dec. or say 530125.2 sq. ft.
Prevailing market rate	Rs.20,00,000/— to Rs.25,00,000/- per Acre
Guide line rate obtained from the SRO Price evidence, There of to be enclosed)	Rs.5,50,000.00 per Acre
Assessed/ adopted rate of valuation	Rs.20,00,000/- per Acre
Estimated value of Land	Rs.24.340 Millions
PART – B (VALUATION OF BUILDING)
Type of building (Residential/ Commercial/ /Industrial)	Residential cum Industrial
Type of construction (Load bearing/ RCC/ steel Framed)	RCC
Year of construction	New (u.c.)
Number of floors and height of Each floor including basement, if any	Single storied
Condition of the building
Exterior- Excellent, Good, Normal, Poor Interior – Excellent, Good, Normal, Poor	Normal Normal
SPECIFICATION OF CONSTRUCTION (FLOOR WISE) IN RESPECT OF:
Description	G. F. (Ac sheet and RCC)
Foundation	Structure
Basement	No
Superstructure	Fly Ash Brick Work

DETAILS OF VALUATION

Particulars of item	Plinth Area	Roof Ht.	Age of Building	Estimated replacement rate of construction	Replacement cost (Rs. In millions)	Net value after depreciation (Rs. in millions)
Ground floor (AC sheet U.C)	23024.55 sq. ft.	--	New	@ 350/- Per sq ft.	8.059	8.059
Ground floor (RCC)	900 sq. ft.	10	New	@ 400/- Per sq ft.	0.360	0.360
Total						8.419

Water supply arrangements (LS)	Rs.0.050 Million
Grill Door	Rs.0.050 Million
Compound wall (LS)	Rs.1.100 Million
Total	Rs.1.200 Millions

TOTAL ABSTRACT OF THE ENTIRE PROPERTY

Land	Rs.24.340 Millions
Building	Rs.8.419 Millions
Services	Rs.1.200 Million
Total	Rs.33.959 Millions

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NOTE:

The Registered Office of the company has been shifted from, Plot No.S1/35, Neeladri Vihar, Bhubaneswar – 751021, Orissa, India, to the present address w.e.f. 05.07.2010.

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TRADE REFERENCE:

· Subash Sen

At-Ganesh Bazar, PO/ DT-Dhenkanal – 759001, India

Mobile No.: 91-9438177743

(Wholesalers of Bata Shoes)

· Barada Prasad Mohanty

At/PO- Sundergram, Dt- Cuttack, Orissa, India

Mobile No.: 91-9937009045

(Suppliers of Building Materials)

· Bikash Ranjan Mohanty

GA-405, Subham Palace, Sailasri Vihar, CS Pur, Bhubaneshwar – 751021, Orissa, India

Mobile No.: 91-9853867952

(Hotelier)

· Sanjay Apat

GA -3, Niladri Vihar, C. S. Pur, Bhubaneshwar – 751016, Orissa, India

Mobile No.: 91-9776600009

(Real Estate and Transport Business)

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.44.73
UK Pound	1	Rs.73.21
0Euro	1	Rs.63.90.

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

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

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