MIRA INFORM REPORT

Report Date :

12.05.2011

IDENTIFICATION DETAILS

Name :	V K J CONSTRUCTION CO.
Registered Office :	595, Khinni Talla, Raebareli, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2011 (Estimated)
Date of Incorporation :	14.10.2006
Capital Investment / Paid-up Capital :	Rs.2.416 Millions
PAN No.: [Permanent Account No.]	AAGFV0388J
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners.
Line of Business :	Trading of Interior Decoration Products and Contract Business.
No. of Employees :	7 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear
Comments :	Subject is an established concern in its field. The valuation report and networth statement provided seems to be satisfactory. No complaints have been heard from indirect or market sources. 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. Mohd Shanhnawaz Khan
Designation :	Partner
Contact No.:	91-9335623010
Date :	10.05.2011

LOCATIONS

Registered/ Head Office/ Factory :	595, Khinni Talla, Raebareli, Uttar Pradesh, India
Mobile No.:	91-9335623010 (Mr. Mohd Shanhnawaz Khan)
Location :	Owned

PARTNERS

Name :	Mr. Mohd. Shahnawaz Khan
Designation :	Partner
Address :	49, Khinni Talla, Raebareli, Uttar Pradesh, India
Date of Birth/Age :	01.06.1974
Qualification :	Under Graduate
Experience :	6 years
Name :	Mr. Mohd. Shah Ali Khan
Designation :	Partner
Address :	49, Khinni Talla, Raebareli, Uttar Pradesh, India
Date of Birth/Age :	01.01.1989
Qualification :	Under Graduate
Experience :	5 years

BUSINESS DETAILS

Line of Business :	Trading of Interior Decoration Products and Contract Business.
Terms :
Selling :	Credit (30 days)
Purchasing :	Cash and Credit (30 days)

GENERAL INFORMATION

Customers :

Semi Government/ Government Department.

Name of the Customer	Location	Relationship (No. of years)	Credit Period Allowed
FGIET	Ratapur Rebareli	6 years	Yes

No. of Employees :

7 (Approximately)

Bankers :

· Punjab National Bank

Chauhan Market, Raebareli, Uttar Pradesh, India

· Corporation Bank

Facilities :

· C/C Limit Rs.1.200 Millions A/c Mohd Shahnawaz Khan

· C/C Limit Rs.3.000 Millions A/c Gulmohar Interior

· Sadiq Cold Storage and Ice Factory has been recently sanctioned Term Loan of Rs.19.000 Millions and Cash Credit Rs.9.000 Millions.

Bank	Nature of Credit Facility	Sanctioned Loan Amount	Outstanding Balance as at 31.03.2010
Punjab National Bank	Cash Credit	Rs.5.000 Millions	Rs.5.046 Millions

Banking Relations :	--
Auditors :
Name :	Chandra and Associates Chartered Accountant
Address :	Hotel Preet, Station Road, Raebareli, Uttar Pradesh, India
Tel. No.:	91-535-2211014
Mobile No.:	91-9415118653
Email :	ca_santanisushilkumar@rediffmail.com
Associates/Subsidiaries :	· Gulmohar Interior – (Proprietor Mr. Mohd. Shahnawaz Khan) Address: Nai Basti, Khinni Talla, Raebareli, Uttar Pradesh, India Line of Business: Trading of PVC Pipe and Interior Decorating Products. Bank: Punjab National Bank, Raebareli Mohd. Shahnawaz Khan – (Proprietor Mr. Mohd. Shahnawaz Khan) Address: 595, Khinni Talla, Raebareli, Uttar Pradesh, India Line of Business: Civil Construction. Bank: Punjab National Bank, Raebareli Sadiq Cold Storage and Ice Factory - (Partner Mr. Mohd. Shahnawaz Khan) Address: Vill and Post Salon, Raebareli, Uttar Pradesh, India Line of Business: Cold Storage.

CAPITAL STRUCTURE

PARTNER CAPITAL ACCOUNTS

(RS. IN MILLIONS)

Particulars	31.03.2011 (Estimated)
Mr. Shahnawaz Khan
Opening Capital	0.676
Interests on Capital	0.081
Share Profit	0.514
Salary	0.036
	1.307
Less: Drawings	0.100
Total	1.207
Mr. Shah Ali Khan
Opening Capital	0.676
Interests on Capital	0.081
Share Profit	0.514
Salary	0.036
	1.307
Less: Drawings	0.100
Total	1.207

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.

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011 (Estimated)	31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		2.416	1.352	1.217	0.992
2] Share Application Money		0.000	0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000	0.000
NETWORTH		2.416	1.352	1.217	0.992
LOAN FUNDS
1] Secured Loans		12.000	5.046	5.005	4.590
2] Unsecured Loans		1.275	0.575	0.575	0.000
TOTAL BORROWING		13.275	5.621	5.580	4.590
DEFERRED TAX LIABILITIES		0.000	0.000	0.000	0.000
TOTAL		15.691	6.973	6.797	5.582
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.019	0.020	0.023	0.026
Capital work-in-progress		5.000	0.475	0.000	3.900
INVESTMENT		0.000	0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000	0.000
	Sundry Debtors	0.000	6.744	0.000	0.000
	Cash & Bank Balances	0.136	0.006	0.028	0.223
	Other Current Assets	12.500	0.343	8.778	1.793
	Loans & Advances	0.000	0.000	0.000	0.000
Total Current Assets		12.636	7.093	8.806	2.016
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.000	0.000	1.086	0.000
	Other Current Liabilities	1.500	0.607	0.892	0.082
	Provisions	0.464	0.008	0.054	0.278
Total Current Liabilities		1.964	0.615	2.032	0.360
Net Current Assets		10.672	6.478	6.774	1.656
MISCELLANEOUS EXPENSES		0.000	0.000	0.000	0.000
TOTAL		15.691	6.973	6.797	5.582

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011 (Estimated)	31.03.2010	31.03.2009	31.03.2008
	SALES
		Income (Work Done)	50.000	24.646	19.899	24.383
		Other Income	0.000	0.000	0.015	0.000
		Closing Stock of WIP	5.000	0.475	0.000	3.899
		TOTAL (A)	55.000	25.121	19.914	28.282
Less	EXPENSES
		Opening Stock	0.475	0.000	3.900	0.052
		Cost of Material, Labour and Freight	51.090	23.800	12.100	26.600
		Salaries to Staff	0.462	0.228	0.228	0.180
		Telephone Expenses	0.060	0.026	0.036	0.024
		Advertisement	0.035	0.015	0.020	0.020
		Miscellaneous Expenses	0.100	0.032	0.026	0.025
		Travelling Expenses	0.075	0.035	0.084	0.043
		Staff Welfare	0.075	0.028	0.039	0.036
		Insurance	0.120	0.059	0.037	0.000
		Other Expenses	0.273	0.237	2.646	0.095
		TOTAL (B)	52.765	24.460	19.116	27.075
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2.235	0.661	0.798	1.207
Less	FINANCIAL EXPENSES (D)		0.745	0.633	0.633	0.318
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.490	0.028	0.165	0.889
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.002	0.002	0.002	0.003
	PROFIT BEFORE TAX (E-F) (G)		1.488	0.026	0.163	0.886
Less	TAX (H)		0.460	0.008	0.050	0.274
	PROFIT AFTER TAX (G-H) (I)		1.028	0.018	0.113	0.612

KEY RATIOS

PARTICULARS		31.03.2011 (Estimated)	31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.87	0.07	0.57	2.16
Net Profit Margin (PBT/Sales)	(%)	2.98	0.11	0.82	3.63
Return on Total Assets (PBT/Total Assets}	(%)	11.76	0.37	1.85	43.39
Return on Investment (ROI) (PBT/Networth)		0.62	0.02	0.13	0.89
Debt Equity Ratio (Total Liability/Networth)		6.31	4.61	6.25	4.99
Current Ratio (Current Asset/Current Liability)		6.43	11.53	4.33	5.60

LOCAL AGENCY FURTHER INFORMATION

OPERATING STATEMENT

(RS. IN MILLIONS)

Particulars	31.03.2011	31.03.2012
	(Estimated)	(Projected)
Gross Sales
Domestic	50.000	60.000
Export	0.000	0.000
Add: Other Revenue Income	0.000	0.000
Sub Total	50.000	60.000
Less : Excise Duty	0.000	0.000
Net Sales	50.000	60.000
% rise [+] or fall [-] in net sales as compared to previous year	50.71%	16.67%
Cost of Sales
Raw Materials Consumed
- Imported	0.000	0.000
- Indigenous	0.000	0.000
Others Stores and Spares
- Imported	0.000	0.000
- Indigenous	0.000	0.000
Power and Fuel	0.000	0.000
Direct Wages (Factory Wages and Salaries)	0.000	0.000
Repairs and Maintenance	0.000	0.000
Other Direct Expenses	0.000	0.000
Other Manufacturing Expenses	0.000	0.000
Depreciation	0.002	0.002
Sub Total	51.092	55.602
Add: Opening Stock-In-Process	0.000	0.000
Deduct: Closing Stock-In-Process	0.000	0.000
Cost of Production	51.092	55.602
Add: Opening Stock of Finished Goods	0.475	5.000
Deduct: Closing Stock of Finished Goods	5.000	5.200
SUB TOTAL (Total cost of sales)	46.567	55.402
Selling, General and Administrative Expenses	1.225	1.429
Sub Total	47.792	56.831
Operating Profit before interests	2.208	3.169
Interests on Term Loan	0.720	1.440
Operating profit after Interests	1.488	1.729
Non Operating Income	0.000	0.000
Non Operating Expenses	0.000	0.000
Net of Non-operating Income and Expenses	0.000	0.000
Profit before Tax/ Loss [PBT]	1.488	1.729
Provision for taxes	0.460	0.534
Net Profit / Loss [PAT]	1.028	1.195
Dividend	0.000	0.000
Retained Profit	1.028	1.195
Retained profit/ Net Profit % age	10.000	10.000

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

BALANCE SHEET

(RS. IN MILLIONS)

Particulars	31.03.2011	31.03.2012
CURRENT LIABILITIES	(Estimated)	(Projected)
Short Term Borrowing from Bank
i. From Application Bank	0.000	0.000
ii. From Other Banks	12.000	12.000
SUB TOTAL (A)	12.000	12.000
Short Term Borrowings From Others	0.000	0.000
Sundry Creditors (Trader)	1.500	1.800
Advances Payment from customers	0.000	0.000
Provision For Taxes	0.460	0.534
Creditor for Expenses	0.000	0.000
Dividend Payable	0.000	0.000
Other Statutory Liabilities (due within one years)	0.000	0.000
Installments of term loans and Deferred Payment Credits	0.000	0.000
Other current Liabilities and Provisions (due within one years)	0.004	0.004
SUB TOTAL (B)	1.963	2.338
TOTAL CURRENT LIABILITIES	13.963	14.338
TERM LIABILITIES
Debentures	0.000	0.000
Redeemable Preference Shares	0.000	0.000
Term Loans	0.000	0.000
Deferred Payment Credits	0.000	0.000
Unsecured Loans	0.000	0.000
Term Deposit	0.000	0.000
Other Term Liabilities	1.275	0.700
TOTAL TERM LIABILITIES	1.275	0.700
TOTAL OF OUTSIDE LIABILITIES	15.238	15.038
NET WORTH
Shares Capital	0.993	0.993
Application Money	0.000	0.000
Partner’s Current A/c	0.000	0.000
General Reserve	0.000	0.000
Revolution Reserve	0.000	0.000
Reserves and Surplus	0.000	0.000
Unsecured Loans	0.000	0.000
Share Premium Account	0.000	0.000
Surplus (+) or deficit (-) in Profit and Loss Account	1.423	2.739
TOTAL NET WORTH	2.716	3.732
TOTAL LIABILITIES	17.654	18.770
ASSETS
CURRENT ASSETS
Cash and Bank Balance	0.136	0.354
Investments [Other than long term investments]	0.000	0.000
Receivables other than deferred and exports	11.500	12.000
Export receivables	0.000	0.000
Government and other Trustee securities	0.000	0.000
Fixed deposit with bank	0.000	0.000
Domestic receivable Including BP/ BD	0.000	0.000
INVENTORY
Raw Materials
- Imported	0.000	0.000
- Indigenous	0.000	0.000
Stock in Process	5.000	5.200
Finished Goods	0.000	0.000
Other Consumable Spares	0.000	0.000
Advances to suppliers	0.000	0.000
Advance Payment of Taxes	1.000	1.200
Other Current Assets	0.000	0.000
TOTAL CURRENT ASSETS	17.636	18.754
FIXED ASSETS
Gross Block (Land and Building Machinery)	0.024	0.024
Depreciation to date	0.007	0.008
NET BLOCK
OTHER NON CURRENT ASSETS
Investments in sub Cos./ Affiliates	0.000	0.000
Advances to suppliers of Capital goods and contractors	0.000	0.000
Investment in Others	0.000	0.000
Other Non-Current Investment	0.000	0.000
TOTAL OTHER NON CURRENT ASSETS	0.000	0.000
Intangible Assets	0.000	0.000
TOTAL ASSETS	17.654	18.770
Tangible Net Worth (TNW)	2.416	3.732
Net Working Capital (NWC)	3.673	4.416
Current Ratio	0.126	0.131
TOL/ TNW	0.631	0.403
TTL/ TNW	0.053	0.019

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COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES

(RS IN MILLIONS)

Particulars	31.03.2011	31.03.2012
	(Estimated)	(Projected)
Raw Materials
[a] Imported	0.000	0.000
Months Consumption	0.000	0.000
[b] Indigenous	0.000	0.000
Months Consumption	0.000	0.000
Other consumable spares (Excluding those included 1 above)
[a] Imported	0.000	0.000
Months Consumption	0.000	0.000
[b] Indigenous	0.000	0.000
Months Consumption	0.000	0.00
Stock in process	5.000	5.200
Months cost of production	0.000	0.000
Finished goods	0.000	0.000
Months cost of sales	0.000	0.000
Receivable other than export and deferred receivables [including bills purchased and discounted by bankers]	11.500	12.000
Months domestic sales	2.76	2.40
Export receivables [including bills purchased and discounted by bankers]	0.000	0.000
Months export sales	0.000	0.000
Advances to suppliers of raw materials and stores/ spares consumable	0.000	0.000
Other current Assets including cash and bank balances and deferred receivable due within one year	1.136	1.554
TOTAL CURRENT ASSETS	17.636	18.754
B CURRENT LIABILITIES
[Other than bank borrowing for working capital]
Creditors for purchases of raw materials and stores and consumable spares	1.500	1.800
Months Purchases	0.035	0.039
Advances from customers	0.000	0.000
Statutory Liabilities	0.000	0.000
Other current liability including short term borrowing dividend payable, installment of DPG public deposit, debentures etc	0.463	0.538
TOTAL	1.963	2.338

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COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLIONS)

Particulars	31.03.2011	31.03.2012
	(Estimated)	(Projected)
FIRST METHOD OF LENDING
Total Current Assets	17.636	18.754
Other current Liabilities (Other than Bank borrowings)	1.963	2.338
Working Capital Gap	15.673	16.416
Min. Stipulated net working capital (25% of WCG)	3.918	4.104
Actual/ Project Net Working	3.673	4.416
Item 3 minus item 4	11.755	12.312
Item 3 minus item 5	12.000	12.000
Maximum permissible bank finance	11.755	12.000
Excess borrowing representing Shortfall in NWC	0.245	0.000
FIRST METHOD OF LENDING
Total Current Assets	17.636	18.754
Other current Liabilities (Other than Bank borrowings)	1.963	2.338
Working Capital Gap	15.673	16.416
Min. Stipulated net working capital (25% of WCG)	4.409	4.688
Actual/ Project Net Working	3.673	4.416
Item 3 minus item 4	11.264	11.728
Item 3 minus item 5	12.000	12.000
Maximum permissible bank finance	11.264	11.728
Excess borrowing representing Shortfall in NWC	0.736	0.272

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

PROJECTED BALANCE SHEET

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.03.2012
		(Projected)
SHAREHOLDERS FUNDS
1] Share Capital		3.732
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		3.732
LOAN FUNDS
1] Secured Loans		12.000
2] Unsecured Loans		0.700
TOTAL BORROWING		12.700
DEFERRED TAX LIABILITIES		0.000
TOTAL		16.432
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.016
Capital work-in-progress		5.200
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.354
	Other Current Assets	13.200
	Loans & Advances	0.000
Total Current Assets		13.554
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.000
	Other Current Liabilities	1.800
	Provisions	0.538
Total Current Liabilities		2.338
Net Current Assets		11.216
MISCELLANEOUS EXPENSES		0.000
TOTAL		16.432

PROJECTED PROFIT & LOSS ACCOUNT

(RS. IN MILLIONS)

	PARTICULARS		31.03.2012
			(Projected)
	SALES
		Income (Work Done)	60.000
		Other Income	0.000
		Closing Stock of WIP	5.200
		TOTAL (A)	65.200
Less	EXPENSES
		Opening Stock	5.000
		Cost of Material, Labour and Freight	55.600
		Salaries to Staff	0.462
		Telephone Expenses	0.075
		Advertisement	0.040
		Miscellaneous Expenses	0.120
		Travelling Expenses	0.090
		Staff Welfare	0.090
		Insurance	0.120
		Other Expenses	0.407
		TOTAL (B)	62.004
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		3.196
Less	FINANCIAL EXPENSES (D)		1.465
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.731
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.002
	PROFIT BEFORE TAX (E-F) (G)		1.729
Less	TAX (H)		0.534
	PROFIT AFTER TAX (G-H) (I)		1.195

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

VALUE OF FRINGE BENEFITS IN TERMS OF SECTION 115 WC READ WITH SECTION 115WB FOR THE ASSESMENT YEAR 2009-2010

(RS. IN MILLIONS)

Section under Which Chargeable to Fringe Benefit Tax	Name	Amount of Expenditure Incurred or Payment Made	Percentage Expenditure/ Payment Being Fringe Benefits	Value of Fringe Benefits
115WB(1)(b)	Free or concessional ticket provided by the employer for private journeys of this employees or their family members	Nil	100%	Nil
115WB(1)(c)	Any contribution by the employer to any approved Superannuation fund for employees	Nil	100%	Nil
115WB(2)(A)	Entertainment	Nil	20%	Nil
115WB(2)(B)	Provision of Hospitality of every kind by the employer to any person	Nil	20%	Nil
115WB(2)(C)	Conference (Other than fee for participation by the employees in any conference)	Nil	20%	Nil
115WB(2)(D)	Sales promotion including publicity	Nil	20%	Nil
115WB(2)(E)	Employees’ Welfare	0.039	20%	0.008
115WB(2)(F)	Conveyance	0.084	20%	0.004
115WB(2)(G)	Use of hotel, boarding and lodging facilities	Nil	20%	Nil
115WB(2)(H)	Repair, Running (including fuel), maintenance of motor cars and the amount of depreciation thereon	Nil	20%	Nil
115WB(2)(I)	Repair, Running ( Including Fuel) and maintenance of aircraft and the amount of depreciation thereon	Nil	20%	Nil
115WB(2)(J)	Use of Telephone (Including mobile phone) other than expenditure on leased telephone lines	0.036	20%	0.007
115WB(2)(K)	Maintenance of any accommodation in the nature of guest house other than accommodation used for training purpose	Nil	20%	Nil
115WB(2)(L)	Festival Celebrations	Nil	50%	Nil
115WB(2)(M)	Use of health club and similar facilities	Nil	50%	Nil
115WB(2)(N)	Use of any other club facilities	Nil	50%	Nil
115WB(2)(O)	Gifts	Nil	50%	Nil
115WB(2)(P)	Scholarships	Nil	50%	Nil
115WB(2)(Q)	Tour and Travel (Including foreign travel)	Nil	5%	Nil
Total		0.159		0.019

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

STATEMENT OF ASSETS AND LIABILITIES

(MR. MOHD. SHAHNAWAZ KHAN – PARTNER)

(RS. IN MILLIONS)

ASSEST

MOVABLE ASSETS

Particulars	Value (Rs in millions)
Investment in Business	4.717
Deposits	--
Vehicles	3.800
NSC/ GOI Bond etc.	--
Life Insurance Policy	--
Others – Household Goods	1.400
Total	9.917

IMMOVABLE ASSETS

Particulars	Address	Value (Rs. In Millions)
Land and Building	Gautam Budh Marg Near Old RTO Compound, Lucknow	12.000
Total		12.000

TOTAL ASSETS

RS.21.917 MILLIONS

LIABILITIES

Institution	Purpose	Loan Amount (O/s)	Repayment Terms
Punjab National Bank (1 Car)	Car Loan	0.565	3 years
HDFC (4 Cars)	Car Loan	1.340	3 years
Total		1.905

NET WORTH

RS.20.012 MILLIONS

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

STATEMENT OF ASSETS AND LIABILITIES

(MR. MOHD. SHAH ALI KHAN – PARTNER)

(RS. IN MILLIONS)

ASSEST

MOVABLE ASSETS

Particulars	Value (Rs in millions)
Investment in Business	2.176
Deposits	--
Vehicles	2.100
NSC/ GOI Bond etc.	--
Life Insurance Policy	--
Others – Household Goods	1.000
Total	5.276

IMMOVABLE ASSETS

Particulars	Address	Value (Rs. In Millions)
Land and Building	Gautam Budh Marg Near Old RTO Compound, Lucknow	10.000
Total		10.000

TOTAL ASSETS

RS.15.276 MILLIONS

LIABILITIES

Institution	Purpose	Loan Amount (O/s)	Repayment Terms
HDFC (4 Cars)	Car Loan	0.911	3 years
Total		0.911

NET WORTH

RS.14.365s MILLIONS

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

STATEMENT OF ASSETS AND LIABILITIES

(FARZANA TABBASUM RAHMANI – GUARANTOR)

(RS. IN MILLIONS)

ASSEST

MOVABLE ASSETS

Particulars	Value (Rs in millions)
Investment in Business	--
Deposits	--
Vehicles	--
NSC/ GOI Bond etc.	--
Life Insurance Policy	--
Others – Household Goods	1.600
Total	1.600

IMMOVABLE ASSETS

Particulars	Address	Value (Rs. In Millions)
Land and Building	Res. House Gala No.86/3, Khinni Talla, Raebareli, India	14.000
Total		14.000

TOTAL ASSETS

RS.15.600 MILLIONS

NET WORTH

RS.15.600 MILLIONS

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PROPERTY VALUATION REPORT

GENERAL INFORMATION

Name/s of the Reported Owner

Mrs. Farzana Tabassum

(Alias Rahmani)

Address of Property

House Over Gala No.86/3, Khinni Talla, Akhitiyarpur, Ward Sadar, Near Kaharo-Ka-Adda, Rae Bareilly.

Boundaries of the property

Direction	As given in the sale Deed	As seen at the site
North	House of Kishwarjaha and Liyaqat and Mustag	House of Kishwarjaha and Liyaqat and Mustag
South	Plot of Mohammad Ismail Khan and House of Mohammad Hasib	Metalled Road 18 Feet; and then reportedly of Mohammad Hasib
East	Private Road	Metalled Road 18 Feet; and then Other’s House
West	Nala	PCC Tiles Road 12 feet; and then Nala and then House reportedly of same owner and then almost 350 – m away is kaharo-ka-adda at Lucknow Road

Property Tax Details

Not made available.

Assuming the entire property is Let Out, the Probable Monthly Rent and Advance building rent

Assessed @ Rs.30,000/- per Month

Whether the building plan has been approved?

Not made available.

VALUATION DETAILS

A] LAND

The total plot Area (Extent) of the Site / Land

	As given in sale Deed	As measured at site
Frontage	Not Given	33 feet
Depth	Not Given	160 feet
Total Area	531.00sq. m.	490.706 sq. m.
	5713.56 sq. ft.	5280.00 sq. ft.

Description of the Site / Land

Character of the Locality

Mostly Residential

Classification

Urban

Development of surrounding Areas

Developed

Is the locality subjected to frequent flooding

No

Feasibility to the Civic Amenities like School, Hospital, Offices Markets, Etc.,

Yes

Shape of the Land

Regular Shaped

Type of use to which it can be put

As per Official Land use.

Any other restriction of usage

Nothing know so far

Nature of right whether Leasehold /Freehold

Reportedly Free Hold

Road Facility

Good

Is it a corner plot

Yes (Three Side Road)

Water supply / Potentiality

Satisfactory

Underground sewerage system

Satisfactory

Any other sentimental / Social issue which may affect the value

Nothing know so far

Prevailing Unit Market Rate

Land @ Rs.600/- per Sq. ft.

Unit Rate Adopted in this Valuation

Land @ Rs.600/- per Sq. ft.

Valuation of the Site / Land

Rs.3.168 Millions

B] BUILDING

Type of Construction

Load Bearing

Quality of Construction

Apparently Very Goods

Appearance of the building

Very Good

Number of Floors

Three

Maintenance of the Building

Very Good

Description of the Building

Foundation

Superstructure

Generally Equivalent to Cat – V Plus Residential PWD

Roof

RCC

Doors

Wooden

Windows -

Wooden

Sanitary Fittings

Very Goods

Flooring

Marble

Electricity Supply

Complete

Total Constructed Plinth Area

Floor	Plinth Area	Type of Construction	Actual Constructors
Ground Floor	3080 sq. ft.	RCC roof slab, Marble Flooring, Architectural Façade etc.	1 Room, 1 Hall , Toilet, Porch and Stair
First Floor	2376 sq. ft.	RCC roof slab, Marble Flooring, Architectural Façade etc.	3 Bed Rooms, Lobby, Kitchen, 3 Toilets, Stair and 3 Stores.
Second Floor	2376 sq. ft.	RCC roof slab, Marble Flooring, Architectural Façade etc.	3 Bed Rooms, Lobby, 3 Toilets, Stair and 3 Stores and Mumty

Year of Construction

Reportedly 1 year

Total Assessed life span of building

Almost 90 years since construction

Present Value of Building

Rs.9.938 Millions

Total Valuation

Valuation of the Land

Rs.3.168 Millions

Valuation of the Building

Rs.9.938 Millions

Total

Rs.13.106 Millions

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PROPERTY VALUATION REPORT

GENERAL INFORMATION

Name/s of the Reported Owner

Mr. Mohd. Shahnawaz Khan

S/o (Late) Mr. Mohd. Ismail Khan

Address of Property

Factory House, Plot No. C P No.44, C p No.45 and C P No.46, Purana R T O Compound, Gautam Budh Marg, Lucknow.

Boundaries of the property

Direction	As given in the sale Deed	As seen at the site
North	C P No.43	Vacant Shop and then almost 30-m away is Mezbana Hotel
South	C P No.47	Office of Lucknow Goods Careers.
East	Plots No.29, 30 and 31	Other’s Shops
West	1.50-m wide passage	Earthen Passage 15ft and then almost 30 m away is Gautam Budh Marg

Property Tax Details

Not made available.

Assuming the entire property is Let Out, the Probable Monthly Rent and Advance building rent

Assessed @ Rs.15,000/- per Month

Whether the building plan has been approved?

Not made available.

VALUATION DETAILS

A] LAND

The total plot Area (Extent) of the Site / Land

	As given in sale Deed	As measured at site
Frontage	9-m	9-m
Depth	4-m	4-m
Total Area	36 sq. m.	36 sq. m.

Description of the Site / Land

Character of the Locality

Mostly Commercial

Classification

Urban

Development of surrounding Areas

Well- Developed; but approach road is still an earthen road

Is the locality subjected to frequent flooding

No

Feasibility to the Civic Amenities like School, Hospital, Offices Markets, Etc.,

Yes

Shape of the Land

Regular Shaped

Type of use to which it can be put

As per Official Land use.

Any other restriction of usage

Nothing know so far

Nature of right whether Leasehold /Freehold

Free Hold

Road Facility

Earthen Road

Is it a corner plot

No

Water supply / Potentiality

Satisfactory

Underground sewerage system

Satisfactory

Any other sentimental / Social issue which may affect the value

Nothing know so far

Prevailing Unit Market Rate

Land @ Rs.2500/- Sq. ft.

Unit Rate Adopted in this Valuation

Nil

Valuation of the Site / Land

Rs.0.968 Million

B] BUILDING

Type of Construction

Load Bearing

Quality of Construction

Apparently Satisfactory

Appearance of the building

Apparently Satisfactory

Number of Floors

Four

Maintenance of the Building

Satisfactory

Description of the Building

Foundation

Superstructure

Generally Equivalent to Ordinary Non-residential of PWD

Roof

RCC

Doors

Wooden/ Glazed

Windows -

Wooden/ Glazed

Sanitary Fittings

Satisfactory

Flooring

PCC/ Tiled

Electricity Supply

Complete

Total Constructed Plinth Area

Floor	Plinth Area	Type of Construction	Actual Constructors
Basement Floor	Full 36 Sq. m.	RCC Roof Slab, PCC Flooring etc.	Hall as Godown
Ground Floor	Full 36 Sq. m.	RCC Roof Slab, PCC Flooring etc.	Office
First Floor	Full 36 Sq. m.	RCC Roof Slab, PCC Flooring etc.	Office and Toilet
Second Floor	Full 36 Sq. m.	RCC Roof Slab, PCC Flooring etc.	1-Room and Toilet

Year of Construction

Reportedly 5 years

Total Assessed life span of building

Almost 90 years

Present Value of Building

Rs.(0.777 + 2.789) Millions

Total Valuation

Valuation of the Land

Rs.0.968 Million

Valuation of the Building

Rs.(0.777 + 2.789) Millions

Total

Rs.4.534 Millions

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PROPERTY VALUATION REPORT

GENERAL INFORMATION

Name/s of the Reported Owner

Mr. Mohd. Shah Ali Khan

S/o (Late) Mr. Mohd. Ismail Khan

Address of Property

.Shop No.2, Falcon Enterprises, Upper groun d Floor, Near Maqbool Ganj Police Chowki, ward Ganesh Ganj, Hgautam Budh Marg, Lucknow.

Boundaries of the property

Direction	As given in the sale Deed	As seen at the site
North	Shop No.1	Jai Laxmi Traders, Shop No.1
South	Shop No.3	Light Tower shop No.3
East	Gautam Budh Marg	Gautam Budh Marg and then Maqbool Ganj Police Chowki
West	Other’s Property	Other’s Property

Property Tax Details

Not made available.

Assuming the entire property is Let Out, the Probable Monthly Rent and Advance building rent

Assessed @ Rs.9,500/- per Month

Whether the building plan has been approved?

Not made available.

VALUATION DETAILS

A] LAND

Description of the Site / Land

Character of the Locality

Mostly Commercial

Classification

Urban

Development of surrounding Areas

Well- Developed

Is the locality subjected to frequent flooding

No

Feasibility to the Civic Amenities like School, Hospital, Offices Markets, Etc.,

Yes

Shape of the Land

Type of use to which it can be put

As per Official Land use.

Any other restriction of usage

Nothing know so far

Nature of right whether Leasehold /Freehold

Not Applicable

Road Facility

Good

Is it a corner plot

Not Applicable

Water supply / Potentiality

Satisfactory

Underground sewerage system

Satisfactory

Any other sentimental / Social issue which may affect the value

Nothing know so far

Prevailing Unit Market Rate

Not Applicable

Unit Rate Adopted in this Valuation

Not Applicable

Valuation of the Site / Land

Nil

B] BUILDING

Type of Construction

Apparently Framed

Quality of Construction

Apparently Satisfactory

Appearance of the building

Satisfactory

Number of Floors

Four. But this shop is at the upper ground floor.

Maintenance of the Building

Satisfactory

Description of the Building

Foundation

Superstructure

Generally Equivalent to Ordinary Non-residential of PWD

Roof

RCC

Doors

Glazed Entrance

Windows -

Glazed Entrance

Sanitary Fittings

None

Flooring

Tiled

Electricity Supply

Complete

Total Constructed Plinth Area

Floor	Plinth Area	Type of Construction	Actual Constructors
Upper Ground Floor	380 Sq. ft.	RCC Roof Slab, Tiled Flooring etc.	01 – Shop

Year of Construction

Reportedly 8 years

Total Assessed life span of building

Almost 90 years

Present Value of Building

Rs.2.850 Millions

Total Valuation

Valuation of the Land

Nil

Valuation of the Building

Rs.2.850Millions

Total

Rs.4.534 Millions

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PERSONAL ASSETS OF THE PARTNERS

Name	Description of the Assets Owned by them	Amount (Rs. In Millions)	Whether offered as Security
Mr. Mohd. Shahnawaz Khan	Commercial Land and Building at Gautam Budh Marg, Lucknow	12.000	Yes
Mr. Mohd Shah Ali Khan	Commercial Land and Building at Gautam Budh Marg, Lucknow	10.000	Yes

INSURANCE DETAILS

Unit’s Assets Covered	Policy No/ Cover Note	Validity	Sum Assured (Rs. In Millions)	Risk Covered
Gulmohar Interior	Cover not available at financing bank	1 Year	4.000	Comprehensive
Mohd Shahnawaz Khan	Cover not available at financing bank	1 Year	1.800	Comprehensive

REVIEW OF BANK STATEMENTS FOR THE LAST SIX MONTHS

Number of Credit / Debits, month-wise	2-3 Times Credit
Month-wise Credits into the Account (Block credits and bounces / reversals to be ignored)	Total Credit Summation in the A/c o VKJ Construction from the period from 01.04.2010 to 03.03.2011 Rs.33.189 Millions
Cheque bounces	No
Evidence of servicing existing debt obligations	Yes
Line Utilisation – any evidence of perennial overdrawing	No
Evidence of statutory dues being paid on time	Yes
Last utility payment made (electricity)	Yes

SWOT ANALYSIS OF THE UNIT

STRENGTHS The firm is oldest and reputed firm and most preferable concern of related departments.	WEAKNESS Department may be allotted works to other firms.
OPPORTUNITIES The district Raebareli has good potential for construction activities as the central government has major thrust on infrastructure development.	THREATS No major threats.

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.44.69
UK Pound	1	Rs.73.12
Euro	1	Rs.64.39

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.