MIRA INFORM REPORT

Report Date :

11.05.2011

IDENTIFICATION DETAILS

Name :	SHIVASHAKTI DALL INDUSTRIES
Registered Office :	Plot No.86, Nandur-Kesartgi Industrial Area, Shahabad Road, Gulbarga-585105, Karnataka
Country :	India
Financials (as on) :	31.03.2011 (Provisional)
Year of Establishment:	November 2009
Com. Reg. No.:	Rs. 23.448 Millions
PAN No.: [Permanent Account No.]	AUCPP3703H
Legal Form :	Sole Proprietory Concern
Line of Business :	Manufacturer of Toor Dall
No. of Employees:	Approximately 20 (Office 4, Factory 16)

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 :	New Concern
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a relatively new concern in its field and in the process of establishing itself. Trade relations are reported as fair. The valuation report provided seems to acceptable. 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. Vishwanath B Patil
Designation :	Proprietor
Contact No.:	91-9972607703/ 9741291715
Date :	07.05.2011

LOCATIONS

Registered Office/ Factory:	Plot No.86, Nandur-Kesartgi Industrial Area, Shahabad Road, Gulbarga-585105, Karnataka, India
Tel. No.:	91-8472-296463
Mobile No.:	91-9972607703/ 9741291715 (Mr. Vishwanath B Patil)
E-Mail :	vishwa.patil7@gmail.com
Area :	Owned

SOLE PROPRIETOR

Name :	Mr. Vishwanath B Patil
Designation :	Proprietor
Address :	Plot No.86, Nandur-Kesartgi Industrial Area, Shahabad Road, Gulbarga-585105, Karnataka, India
Date of Birth/Age :	10.04.1987
Qualification :	B.E.
Experience :	4 Years

BUSINESS DETAILS

Line of Business :	Manufacturer of Toor Dall
Brand Names :	Double Horse
Terms :
Selling :	Credit (30 Days)
Purchasing :	Cash

GENERAL INFORMATION

Customers :	Wholesalers
No. of Employees :	Approximately 20 (Office 4, Factory 16)
Bankers :	State Bank of Mysore, Super Market
Facilities :	Term Loan : Rs. 4.200 Millions Cash Credit : Rs. 5.000 Millions

Banking Relations :	--
Auditors :
Name :	Mr. Virendra Patil Chartered Accountant
Address :	M.K. Tower Beside Chetan School
Mobile No.:	91-9844185555

CAPITAL STRUCTURE

As on 31.03.2011 (Provisional)

Capital Investment :
Owned :	Rs. 11.657 Millions
Borrowed :	Rs. 11.791 Millions
Total :	Rs. 23.448 Millions

CAPITAL ACCOUNT

As on 31.03.2010

Particulars	Amount	Particulars	Amount
To Drawings	0.220	By Balance b/f	9.934
		By Net Profit	0.203
To Balance c/d	9.917
Total	10.137		10.137

FINANCIAL DATA

[all figures are in Rupees Millions]

Note : Sole Proprietory and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry Records.

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011 (Provisional)	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		11.657	9.917
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		11.657	9.917
LOAN FUNDS
1] Secured Loans		11.791	10.410
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		11.791	10.410
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		23.448	20.327
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		11.818	13.356
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	4.871	1.421
	Sundry Debtors	9.449	6.578
	Cash & Bank Balances	0.825	0.121
	Other Current Assets	0.000	0.000
	Loans & Advances	0.000	0.000
Total Current Assets		15.145	8.120
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.515	1.149
	Other Current Liabilities	0.000	0.000
	Provisions	0.000	0.000
Total Current Liabilities		3.515	1.149
Net Current Assets		11.630	6.971
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		23.448	20.327

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011 (Provisional)	31.03.2010
	SALES
		Income	78.501	11.213
		Other Income	0.000	0.000
		TOTAL (A)	78.501	11.213
Less	EXPENSES
		Cost of Goods Sold	69.376	8.802
		Salary	0.525	0.111
		Pooja Expenses	0.046	0.012
		Discount Allowed	1.625	0.000
		Transportation	0.613	0.000
		Travelling and Conveyance	0.089	0.000
		Other Expenses	3.816	1.224
		TOTAL (B)	76.090	10.149
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		4.361	1.064
Less	FINANCIAL EXPENSES (D)		1.848	0.025
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2.513	1.039
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1.538	0.836
	NET PROFIT (G)		0.975	0.203

KEY RATIOS

PARTICULARS		31.03.2011 (Provisional)	31.03.2010
PAT / Total Income	(%)	1.24	1.81
Net Profit Margin (PBT/Sales)	(%)	1.24	1.81
Return on Total Assets (PBT/Total Assets}	(%)	3.62	0.95
Return on Investment (ROI) (PBT/Networth)		0.08	0.02
Debt Equity Ratio (Total Liability/Networth)		1.31	1.17
Current Ratio (Current Asset/Current Liability)		4.31	7.07

LOCAL AGENCY FURTHER INFORMATION

STATEMENT OF TOTAL INCOME

ASSESSMENT YEAR 2010-11

(Rs. in Millions)

Particulars	Amount	Amount	Amount
Income from Business or Profession
Income chargeable under the head “Business of Profession”			0.203
Gross Total Income			0.203
Deductions under chapter VI-A
Investment u/s 80C, CCC, CCD
LIC Premium	0.000
FBF	--
PLI	--
Bajaz LIC	--
GIS	--
Tutation fees	--
Total Investment- subject to ceiling u/s 80CCE	0.000		0.000
Total Income			0.203
TAX ON TOTAL INCOME	Rate %	Tax
Upto 160000	0	--
160001-300000	10	0.004
300001-500000	20	--
500001 and above	30	--
Total Tax		0.004
Tax on Total Income			0.004
Add- Education cess			0.000
Tax will cess			0.004
Add- Interest u/s 234A			0.000
Net Tax Payable			0.004
Less- TDS			--
Balance tax payable			0.004
Less: Self Assessment Tax Paid			0.004
Payable / Refund			Nil

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STATEMENT SHOWING ASSETS AND LIABILITIES

NET WORTH STATEMENT

NAME OF THE APPLICANT	MR. VISHWANTH BASWARAJ PATIL
NAME OF THE GUARANTOR	MR. BASWARAJ V PATIL

IMMOVABLE PROPERTIES	APPLICANT	GUARANTOR
Address of the property with Survey No./ Door No. etc.	Plot No. 86 Nandur Rs. 15.000 Millions	Sy. No. 124 Rs. 7.000 Millions Land Rs. 5.000 Millions
Description: Land/ Site/ Building	Land, Building and Machinery	--
Type of Property: Commercial/ Residential / Agricultural	Commercial	--
Area/ Extent of Land	1 acre	--
Present Market/ Assessed Value	Rs. 15.000 Millions	Rs. 12.000 Millions
INVESTMENT IN BUSINESS CAPITAL
Name of the company/ firm/ concern in which investment is made	Shivashakti Dall Industries	B.V Patl Contracter
Present Value of Investments	Rs. 10.000 Millions	Rs. 12.000 Millions
DEPOSITS HELD WITH BANKS/ COMPANIES/ OTHER LENDER ETC.
Name of the Bank/ Company where deposits are held	--	Rs. 2.000 Millions
VEHICLES OWNED
Model/ Make	Hero Honda	Inova/ India
Present Market Value	Rs. 0.050 Million	Rs. 1.000 Million
OTHER ASSETS
Furniture and Fixture	Rs. 0.135 Million	Rs. 1.000 Million
Cash in hand	Rs. 0.200 Million	Rs. 0.100 Million
Jewellery	Rs. 0.500 Million	Rs. 1.000 Million
Plant and Machinery	Rs. 5.000 Millions	Rs. 4.000 Millions
Other Assets if any	Rs. 1.000 Million	Nil
Total Value of other assets	Rs. 6.835 Millions	6.100 Millions
TOTAL ASSETS	RS. 31.885 MILLIONS	RS. 33.600 MILLIONS
LIABILITIES : (PLEASE FURNISH LOANS AVAILED FORM BANKS/ FINANCIAL INSTITUTIONS AND OTHER BORROWINGS
Name of the Bank/ Institution	SBM	--
Nature/ Type of Laon	TL and CC	Rs. 3.000 Millions
Date of Loan	2009-10	--
Amount of Loan Availed	Rs. 11.000 Millions	Rs. 3.000 Millions
Security offered if any	Land Building and Machinery	Rs. 6.000 Millions
AMOUNT OUTSTANDING	RS. 9.000	RS. 3.000 MILLIONS
NET WORTH	RS. 22.885 MILLIONS	RS. 30.600 MILLIONS

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PROJECTED OPERATING STATEMENT

(Rs. in Millions)

Particulars	2011 (Provisional)	2012	2013
1. Gross Sales
i) Domestic Sales	93.512	112.214	134.657
ii) Export Sales	--	--	--
Add Other Revenue income	--	--	--
Total	93.512	112.214	134.657
2. Less: Excise Duty	--	--	--
Deduct Other Items	--	--	--
3. Net Sales (Item 1 – Item 2)	93.512	112.214	134.657
4. % rise (+) or fall (-) in net sales as compared to last year (annualized)	733.96%	20.00%	20.00%
5. COST OF SALES
i) Raw Materials (Including stores and other items used in the process of manufacture)
a) Imported	92.136	93.979	118.413
b) Indigenous	--	--	--
	92.136	93.979	118.413
ii) Other spares
a) Imported	0.000	0.000	0.000
b) Indigenous	--	--	--
iii) Power and Fuel	--	--	--
iv) Direct Labour (Factory Wages)	--	--	--
v) Other Manufacturing Expenses	2.189	2.627	3.152
vi) Depreciation	1.911	2.582	2.194
vii) SUB – TOTAL (i to vi)	96.236	99.187	123.760
viii) Add: Opening Stock in process	1.421	14.150	12.912
Sub Total	97.657	113.337	136.672
ix) Deduct : Closing Stock in process	14.150	12.912	15.864
x) Cost of Production	83.507	100.425	120.808
xi) Add: Opening Stock of Finished Goods	--	0.000	0.000
Sub Total	83.507	100.425	120.808
xii) Deduct: Closing Stock of Finished Goods	--	--	--
xiii) Sub- Total (Total Cost of Sales)	83.507	100.425	120.808
6. Selling, General and Administrative Expenses	6.052	6.657	7.323
7. SUB- TOTAL (5+6)	89.559	107.082	128.131
8. Operating Profit Before Interest (3-7)	3.953	5.132	6.526
9. Interest	2.432	3.570	3.371
10. Operating Profit After Interest (8-9)	1.521	1.562	3.155
11. i) Add: Other non-operating Income	--	--	--
Sub Total (Income)	0.000	0.000	0.000
ii) Deduct other non operating expenses
Sub- Total (Expenses)	0.000	0.000	0.000
iii) Net of non operating income/ expenses	0.000	0.000	0.000
iv) Expenses Amortised	--	--	--
12. Profit before tax/ Loss (10+11(iii))	1.521	1.562	3.155
13 a) Provision for taxes	0.000	0.000	0.000
b) Provision for Deferred Tax	--	--	--
14. Net Profit/ Loss (12-13)	1.521	1.562	3.155
15 a) Equity Dividend Paid-Amount (Already Paid + B.S. Provision)	--	--	--
b) Dividend Rate	--	--	--
16. Retained Profit (14-15)	1.521	1.562	3.155
17. Retained Profit/ Net Profit (%)	100.00	100.00	100.00

PROJECTED ANALYSIS OF BALANCE SHEET

(Rs. in Millions)

Particulars	2011 (Provisional)	2012	2013
CURRENT LIABILITIES
1. Short Term borrowings form banks (including bills purchased discounted and excess borrowings placed on repayment basis)
i) From other Banks	15.000	15.000	15.000
ii) Of which BP and BD	--	--	--
Sub- Total (A)	15.000	15.000	15.000
2. Short term borrowing form others	--	--	--
3. Sundry Creditors (Trade)	5.000	5.407	7.786
4. Advance payment form customers/ deposits from dealers	--	--	--
5. Provision for taxation	--	--	--
6. Dividend payable	--	--	--
7. Other Statutory Liabilities (due witin one year)	--	0.025	0.050
8. Deposits/ Installments of term Loan/ DPGs/ Debentures, etc. (Payable within one year)	--	--	--
9. Other Current Liabilities and Provisions (Due within 1 year)	--	--	--
Sub Total (B)	5.000	5.432	7.836
10. TOTAL CURRENT LIABILITIES [Total of 1 to 9 excluding 1(iii)]	20.000	20.432	22.836
TERM LIABILITIES
11. Debentures (not maturing within one year)	--	--	--
12. Preference Shares (Redeemable after one year)	--	--	--
13. Term Loans (Excluding installments payable within one year)	9.000	7.714	6.429
14. Deferred payment Credit (excluding installments due within one year)	--	--	--
15. Term Deposits (repayable after one year)	--	--	--
16. Other Term Liabilities	--	--	--
17. TOTAL TERM LIABILITIES	9.000	7.714	6.429
18. TOTAL OUTSIDE LIABILITIES (Item 10 Plus item 17)	29.000	28.146	29.265
NETOWRTH
19. Ordinary Share Capital	12.268	13.830	16.985
20. General Reserve	--	--	--
21. Revaluation Reserve	--	--	--
22. Other Reserve (excluding provision)	--	--	--
23. Surplus (+) or Deficit (-) in Profit and Loss Account	--	--	--
23 a. Deferred Tax Liability (DTL)	--	--	--
23 b. Other (specify)	--	--	--
24. NET WORTH	12.268	13.830	16.985
25. TOTAL LIABILITIES	41.268	41.976	46.250
ASSETS
CURRENT ASSETS
26. Cash and Bank Balances	0.907	2.137	0.612
27. Investments (Other than long term investment)
i) Government and other Trustee Securities	--	--	--
ii) Fixed Deposits with Banks	--	--	--
28. i) Receivables other than deferred and exports (Including bills purchased by banks)	9.000	12.297	17.339
ii) Export receivables (including bills purchased and discounted by banks)	--	--	--
29. Installments of deferred receivables (due within one year)	--	--	--
30. Inventory	14.150	12.912	15.864
i) Raw Material (Including stores and other items uses in the process of manufacture)
a) Imported	--	--	--
b) Indigenous	--	--	--
ii) Stock in process	14.150	12.912	15.864
iii) Finished Goods	--	--	--
iv) Other Consumable Spares
a) Imported	--	--	--
b) Indigenous	--	--	--
31. Advances to suppliers of raw materials and stores/ spares	--	--	--
32. Advance payment of taxes	--	--	--
33. Other Current Assets (Specify)	--	--	--
34. TOTAL CURRENT ASSETS (Total of 26 to 33)	24.057	27.347	33.815
35. Gross Block (Land and Building and Machinery )	19.122	17.211	14.629
Capital Work in progress
36. Depreciation to date	1.911	2.582	2.194
37. NET BLOCK (35-36]	17.211	14.629	12.435
OTHER NON- CURRENT ASSETS
38. Investment / book debts/ advances / deposits which are not current assets
i) a) Investment in subsidiary company’s/ affiliates	--	--	--
b) Others	--	--	--
ii) Advances to suppliers of capital goods and contractors	--	--	--
iii) Deferred receivables (maturity exceeding 1 year)	--	--	--
iv) Others	--	--	--
39. Non-Consumable Stores and Spares	--	--	--
40. Other non-current asserts including dues from directors	--	--	--
41. TOTAL OTHER NON-CURRENT ASSETS	--	--	--
42. a. Intangible assets (Patents, goodwill, Preliminary, Expenses, Bad/ doubtful expenses not provided for etc.)	--	--	--
b. Deferred Tax Assets (DTA)	--	--	--
43. TOTAL ASSETS (34+37+41+42)	41.268	41.976	46.250
44. TANGIBLE NET WORTH (24-21-42)	12.268	13.830	16.985
45. NET WORKING CAPITAL [(17+24) – (37+41+42)]	4.057	6.915	10.979
46. Current Ratio	1.20	1.34	1.48
47. Total Outside Liabilities / TNW	2.36	2.04	1.72
48. Total Term Liabilities/ TNW	0.73	0.56	0.38

PROJECTED FUNDS FLOW STATEMENT

(Rs. in Millions)

Particulars	2011 (Provisional)	2012	2013
1. SOURCES
a) Net Profit (after tax)	1.521	1.562	3.155
b) Depreciation	1.911	2.582	2.194
c) Increase in Capital	2.351	1.562	3.155
d) Increase in term Liabilities including public deposits	3.697	--	--
e) Decrease in
i) Fixed Assets	--	1.911	2.582
ii) Other non-current assets	--	--	--
f) Other	--	--	--
g) Total	9.480	7.617	11.086
2. USES
a) Net Loss	--	--	--
b) Decrease in term liabilities including public deposits	--	1.286	1.285
c) Increase in
i) Fixed Assets	4.931	--	--
ii) Other non-current assets Depreciation Adjustment	0.836	1.911	2.581
d) Dividend Payment	--	--	--
e) Others	1.521	1.562	3.155
f) TOTAL	7.288	4.759	7.021
3. Long Term Surplus/ Deficit	2.192	2.858	4.065
4. Increase/ Decrease in Current Assets as per details given below	15.937	3.290	6.468
5. Increase/ Decrease in Current liabilities other than bank borrowings	3.851	0.432	2.404
6. Increase/ Decrease in working Capital gap	12.086	--	--
7. Net Surplus (+) / Deficit (-)	[9.894]	--	--
8. Increase/ Decrease in Bank Borrowings	9.894	--	--
INCREASE/ DECREASE – NET SALES	82.299	18.702	22.443
Break-up of (4)
i) Increase/ Decrease in Raw Material	12.729	[1.238]	2.951
ii) Increase / Decrease in Stocks- in -process	--	--	--
iii) Increase/ decrease in finished goods	--	--	--
iv) Increase/ Decrease in receivables
a) Domestic	2.422	3.297	5.042
b) Export
v) Increase/ Decrease in stores and spares	--	--	--
vi) Increase/ Decrease in other current assets	0.786	1.230	[1.526]
Total	15.937	3.290	6.468

Particulars	2011 (Provisional)	2012 Projected	2013 Projected	2014 Projected
Gross Sales	93.512	112.214	134.657	161.589
Net Sales	93.512	112.214	134.657	161.589
Profit Before Tax	1.521	1.562	3.155	5.057
Net Profit/ Loss (PAT)	1.521	1.562	3.155	5.057
Operating Profit	3.953	5.132	6.526	8.229
PBDIT	5.864	7.714	8.720	10.094
PBT/ Net Sales (%)	1.63	1.39	2.34	3.13
PAT/ Net Sales (%)	1.63	1.39	2.34	3.13
PBDIT/ NET SALES	4.23	4.57	4.85	5.09
PBDIT/ Net Sales (%)	6.27	6.87	6.48	6.25
PBT/ TTA (%)	3.69	3.72	6.82	9.79
PBDIT/ TTA (%)	14.21	18.38	18.85	19.55
PAT/ TNW (%)	12.40	11.29	18.58	22.94
Operating Profit/ TNW (%)	32.22	37.11	38.42	37.33
Retained Profit/ Total Asses (%)	3.69	3.72	6.82	9.79
PAT/ Operating Income (%)	1.63	1.39	2.34	3.13
Cash Accruals	3.432	4.144	5.349	6.922
Net Working Capital	4.057	6.915	10.979	16.617
Current Ratio	1.20	1.34	1.48	1.68
PBDIT/ Interest	2.41	2.16	2.59	3.18
ROCE (%)	14.21	18.38	18.85	0.00
Net Cash Accruals/ Total Debt (%)	11.83	14.72	18.28	23.40
Paid up Capital	12.268	13.830	16.985	22.044
Tangible Net worth	12.268	13.830	16.985	22.044
Adjusted Tangible Net Worth	12.268	13.830	16.985	22.044
TOL/ TNW	2.36	2.04	1.72	1.34
TOL/ Adjusted TNW	2.36	2.04	1.72	1.34
TTL/ TNW (Debt/ Equity)	0.73	0.56	0.38	0.23
Sales/ Current Assets	3.89	4.10	3.98	3.94
Sales/ Fixed Assets	5.43	7.67	10.83	15.29
Sales/ TTA	2.27	2.67	2.91	3.13
Sales/ TNW	7.62	8.11	7.93	7.33

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VALUATION REPORT

PART – A BASIC DATA

1. GENERAL

Purpose of Valuation

To assess the present market value

Name of the reported owner with

Shivashakti Dall Mill

Proprietor Vishwanath B Patil

Documents produced for perusal

Lease-cum-Sale Agreement No. 5707/2007-08 dated 20.09.2007 and Approved plan

Brief Description of the property

It is an industrial shed located in the industrial area. The property is in industrial unit (Dall Mill). The land is allotted by KIADB.

If this report is to be used for any Bank Purpose, state the name of the bank and branch, if known

Corporation Bank, Super Market, Gulbarga

2. DESCRIPTION OF THE PROPERTY

Postal Address of the property with

P. No. – 86 of Nandor- Kesaratgi Industrial Area, Shahabad Road, Gulbarga

Location of the property Plot No. / Nagar S.F. No. / TS No. RS. No.

Nandor- Kesaratgi Industrial Area, Plot No. 86, Sy. No. 92 and 83 of Nandur Kesaratgi

In the limits of Village Nandur (Karnataka)

Village/ Block

Nandur

District/ Municipality/ Corporation

Gulbarga

Boundaries of the property

East

P. No. 109

West

P.No. 24 Mtr. KIADB Road No. 7

North

P.No. 87

South

KIADB Road No. 8/A

Property is presently occupied by

Self

What is the probable monthly rent

Rs. 0.030 Million

PART B- LAND

Extent

4047 Sq. mtrs. (43546 sq.ft.)

Extent of Site

43546 sq.ft. (0.999 acres Say 1 acre)

Characteristics of the site

* What is the character of the locality

Industrial

* What is the classification of the locality

Industrial Class

* Road Facilities are available

Available

* What is the width of the road

80 ft.

* Any factors which effect the marketability of the land

Marketability of the property is good

Value of adopting GLR

1. Guideline rate as obtained form the registrar’s office

Rs. 0.446 Million / acre (Fixed by KIADB)

2. Value of land adopting GLR

Rs. 0.446 Million

Value by adopting PMR

Prevailing marketing rate

Rs. 1.500 Millions / acre to Rs. 1.600 Millions/ acre

Unit rate adopted in this valuation after considering the characteristic of the subject plot

Rs. 1.500 Million s/ acre

Value of land by adopting PMR 1 acre X Rs. 1.500 Millions/ acre

Rs. 1.500 Millions (B)

PART C- BUILDING

Type of Construction

RCC column with zinc sheet roof and GF office and chunni room of RCC framed structure with RCC Roof

Quality of construction

1^st Class

Appearance of Building

Common

Maintenance of Building

Newly constructed

Plinth Area

GF 5750 sq. ft. (Main shed)

GF 700 sq.ft. (Husk Room)

GF 1900 sq.ft. (Office cum Rest Room)

Total = 8350 sq.ft.

Floor	Year of Construction	Roof	Plinth Area
			Main Portion A	Contilevered Portion B	Total A + 50% of B
Main Shed	2010	Zinc Sheet Roof	5750 sq.ft.	--	5750 sq.ft.
Room for Husk	2010	RCC	700 sq.ft	--	700 sq.ft.
Ground Floor office cum rest room	2010	RCC	1900 sq.ft.	--	1900 sq.ft.
		Total	8350 sq.ft.	--	8350 sq.ft.

• Permission No. and Date: Permission copy issued by KIADB vide No. No/ KIADB/ DO/ GLB/ BP/763/07-08 dated 24.01.2008
• Value of building is estimated by adopting suitable unit plinth area rate depending upon the specification. Depreciation is calculated by straight line method assuming a salvage value of 10%

VALUATION OF BUILDING

Description	Main shed	Room for Husk	Office cum rest room	First Floor Const. on husk room
Specification Foundation	Footing	Footing	Footing	--
Floor Finish	Shahabad Flooring	Shahabad Flooring	Granite	--
Superstructure	Shed, Petch, Stone	Brick Masonary	Brick Masonary	Brick Masonary
Roof	Zinc Sheet Roof	RCC	RCC	RCC
Doors	R.S.	R.S.	Teak Wood	RS
Windows	MS and Wood	MS and Wood	Teak Wood	Teak Wood
Weathering course	--	--	--	--
Plinth Area	5750 sqft	700 sq.ft.	1900 sq.ft.	700 sq.ft.
Year of Construction	2010	2010	2010	2010
Age of building	New	New	New	New
Residual Life	50 Years	80 Years	80 Years	80 Years
Total Life	50 Years	80 Years	80 Years	80 Years
Depreciation Percentage (assuming salvage value 10%)	Nil%	Nil%	Nil%	Nil%
Replacement rate of construction	450/sq.ft.	Rs. 700/sft	Rs. 950/sft	Rs. 700/sft
Replacement value	Rs. 2.588 Millions	Rs. 0.490 Million	Rs. 1.805 Millions	Rs. 0.490 Million
Present value of the building	Rs. 2.588 Millions	Rs. 0.490 Million	Rs. 1.805 Millions	Rs. 0.490 Million
Total value of the building	RS. 5.372 Millions	(C)

PART- D

Compound wall including gate

Rs. 0.600 Million

Dry yard

1331 sq mtrs @ 350/sm

Rs. 0.466 Million

Pavement

1194 sq.mt and Rs. 350/sm

Rs. 0.418 Million

Indoor and out door lighting

Rs. 0.100 Million

TOTAL

RS. 1.584 MILLIONS

PART E – SERVICES (VALUE AFTER DEPRECIATION)

Deep bore

Rs. 0.050 Million

Total

Rs. 0.050 Million (E)

MACHINERY

As per the expert opinion taken from Mr. Ajit Kothari approved Surveyor, loss assessor and valuer, the value of machinery is taken as his assessment is Rs. 4.000 Millions

PART F- ABSTRACT VALUE

Part	Description	Value by adopting
		GLR	PMR
B	Land	Rs. 0.446 Million	Rs. 1.500 Millions (B)
C	Building		Rs. 5.372 Millions
D	Amenities		Rs. 1.584 Millions
E	Services		Rs. 0.050 Million
F	Machinery		Rs. 4.000 Millions
	Total		Rs. 12.506 Millions
		Say	Rs. 12.500 Millions

ABSTRACT VALUE

OPEN MARKET VALUE

RS. 12.500 MILLIONS

FAIR MARKET VALUE (REALIZED VALUE)

RS. 11.200 MILLIONS

DISTRESS VALUE

RS. 10.500 MILLIONS

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Trade References:

· Navinchand Lalji And Company, Vashi

· A-1 Food Vashi, Navi Mumbai

· Suryakant and Bros Bangalore

· Shivshakti Canvassing, Bangalore

Fixed Assets:

· Furniture

· Land

· Building

· Machinery

· Vehicles (Honda)

· Laptop

· Computer

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
Euro	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.