MIRA INFORM REPORT

Report Date :

14.11.2011

IDENTIFICATION DETAILS

Name :	JMSW INFRACON PRIVATE LIMITED (w.e.f.12.05.2008)
Formerly Known As :	ANG CORPORATE CONSULTANTS PRIVATE LIMITED
Registered Office :	G-56 and 57, Triveni Complex, Sheikh Sarai, Phase – I, New Delhi – 110017
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	10.01.2000
Com. Reg. No.:	55-103166
Capital Investment / Paid-up Capital :	Rs.10.000 Millions
CIN No.: [Company Identification No.]	U74140DL2000PTC103166
TAN No.: [Tax Deduction & Collection Account No.]	DEL07209G
PAN No.: [Permanent Account No.]	AACCJ0086C
Legal Form :	Private Limited Liability Company.
Line of Business :	The company is engaged in the construction and development of residential properties and undertaking collaboration contracts.
No. of Employees :	18 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. However, it would be take advisable 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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. Inder Dev Sharma
Designation :	Finance and Accounts Manager
Contact No.:	91-9899758586
Date :	29.09.2011

LOCATIONS

Registered Office :	G-56 and 57, Triveni Complex, Sheikh Sarai, Phase – I, New Delhi – 110017, India
Tel. No.:	91-11-41479900/ 99
Mobile No.:	91-9899758586 (Mr. Inder Dev Sharma)
E-Mail :	Jmsw.infracon@gmail.com info@jmsw.in sanjeev123@munjal.viz bkdhingra@gmail.com shalumunjal@yahoo.com
Website :	http://www.jmsw.in
Location :	Rented
Corporate Office :	F 6/5, Vasant Vihar, New Delhi – 110057, India
Tel. No.:	91-11-41479900-99
E-Mail :	info@jmsw.in
Location :	Rented

DIRECTORS

(AS ON 30.09.2010)

Name :

Mr. Sanjeev Munjal

Designation :

Director

Address :

E-59, Masjid Moth, Greater Kailash – III, New Delhi – 110048, India

Date of Birth/Age :

30.04.1967

Qualification :

Graduate

Experience :

20 years

Date of Appointment :

10.04.2008

DIN No.:

00092534

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1985PTC020866	MUNJAL APARTMENTS PRIVATE LIMITED	Director	01-04-88	01-04-88	-	Active	NO
2	U74999DL2000PTC104714	RADIANT PERSONALISED SERVICES PRIVATE LIMITED	Director	09-02-02	09-02-02	-	Active	NO
3	U72200DL2005PTC134590	RANGOLI INFOCOM PRIVATE LIMITED	Director	31-03-05	31-03-05	-	Active	NO
4	U45200DL2007PTC157689	JMSW BUILDWEL PRIVATE LIMITED	Director	10-01-07	10-01-07	-	Active	NO
5	U74140DL2000PTC103166	JMSW INFRACON PRIVATE LIMITED	Director	25-06-08	10-04-08	-	Active	NO
6	U70102DL2008PTC184606	ALLIANCE BUILDING CORPORATION PRIVATE LIMITED	Director	09-12-09	09-12-09	04-08-11	Active	NO
7	U74999DL2010PTC199536	KRRISH LANDSCAPERS PRIVATE LIMITED	Additional director	22-04-10	22-04-10	-	Active	NO
8	U51909DL2011PTC212359	QUARTZ IMPEX PRIVATE LIMITED	Additional director	12-03-11	12-03-11	-	Active	NO
9	U52334DL2000PTC105928	TWISHA MARKETING PRIVATE LIMITED	Additional director	16-08-11	16-08-11	-	Active	NO

Name :

Mrs. Shalloo Munjal

Designation :

Director

Address :

E-59, Masjid Moth, Greater Kailash – III, New Delhi – 110048, India

Date of Birth/Age :

14.11.1967

Qualification :

Graduate

Experience :

6 years

Date of Appointment :

10.04.08

Date of Ceasing :

08.02.2011

DIN No.:

02145802

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74140DL2000PTC103166	JMSW INFRACON PRIVATE LIMITED	Director	14-03-09	10-04-08	08-02-11	Active	NO
2	U52334DL2000PTC105928	TWISHA MARKETING PRIVATE LIMITED	Additional director	16-08-11	16-08-11	-	Active	NO

Name :

Mr. Bhupesh Kumar Dhingra

Designation :

Director

Address :

F-6/5, Ground Floor, Vasant Vihar, New Delhi – 110057, India

Date of Birth/Age :

22.12.1957

Qualification :

Chartered Accountant

Experience :

28 years

Date of Appointment :

12.10.2009

DIN No.:

00181908

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74999DL2005PLC136202	THAPAR HOMES LIMITED	Director	13-05-05	13-05-05	-	Active	NO
2	U74899DL2004PTC129472	NEWERA SANITARYWARES PRIVATE LIMITED	Director	01-06-05	01-06-05	-	Active	YES
3	U65993DL1984PLC017728	INSTRONICS LIMITED	Director	16-11-05	16-11-05	21-06-08	Active	NO
4	U74899DL1994PTC062562	JASSUM INVESTMENTS PRIVATE LIMITED	Director	16-11-05	16-11-05	06-02-08	Active	YES
5	U74899DL2006PTC145200	MADHUSUDAN INFOTECH PRIVATE LIMITED	Director	20-01-06	20-01-06	-	Strike off	NO
6	U74899DL2006PTC145199	MIRAGE INFOCOM PRIVATE LIMITED	Director	20-01-06	20-01-06	-	Strike off	NO
7	U45201DL2006PTC147720	S.S. CON-BUILD PRIVATE LIMITED	Director	22-03-06	22-03-06	-	Active	YES
8	U74996DL2006PTC153270	MIRAGE MANAGEMENT AND TRAINING PRIVATE LIMITED	Director	07-09-06	07-09-06	-	Strike off	NO
9	U45400DL2007PLC162730	SAB INFRATECH LIMITED	Director	30-04-07	30-04-07	-	Under Process of Striking off	NO
10	U45208DL2008PTC178850	BS INFRATECH PRIVATE LIMITED	Director	30-05-08	30-05-08	03-01-11	Active	NO
11	U74140DL2000PTC103166	JMSW INFRACON PRIVATE LIMITED	Director	10-05-10	28-07-08	-	Active	NO
12	U74140DL1999PTC097756	INDU SURVEYORS AND LOSS ASSESSORS PRIVATE LIMITED	Director	21-05-09	04-10-08	-	Amalgamated	NO
13	U74900DL1999PTC098785	CHANAKYA EXPORTS PRIVATE LIMITED	Director	22-05-09	04-10-08	-	Amalgamated	NO
14	U00000DL2000PTC108964	GW IMMIGRATION CONSULTANCY SERVICES INDIA PRIVATE LIMITED	Director	12-05-09	06-10-08	-	Amalgamated	NO
15	U55101DL2006PTC144623	SURIDHI HOSPITALITY PRIVATE LIMITED	Director	21-05-09	06-10-08	-	Active	NO
16	U74899DL1995PTC067182	DIMENSION APPARELS PRIVATE LIMITED	Director	22-05-09	01-11-08	-	Amalgamated	NO
17	U45400DL2008PTC185540	MADHUSUDAN INFRATECH PRIVATE LIMITED	Director	05-12-08	05-12-08	-	Strike off	NO
18	U45400DL2008PTC185608	SURIDHI PROPERTIES PRIVATE LIMITED	Director	08-12-08	08-12-08	-	Active	NO
19	U45400DL2008PTC185609	SURIDHI INFRACON PRIVATE LIMITED	Director	08-12-08	08-12-08	-	Active	NO
20	U14200DL2008PTC175948	OM MINES AND MINERALS PRIVATE LIMITED	Additional director	06-04-09	06-04-09	-	Active	NO
21	U74899DL1995PTC074189	SURIDHI CONSTRUCTIONS PRIVATE LIMITED	Director	26-06-09	09-05-09	-	Active	NO
22	U70102DL2008PTC184606	ALLIANCE BUILDING CORPORATION PRIVATE LIMITED	Director	09-12-09	09-12-09	04-08-11	Active	NO
23	U67190DL1995PTC071811	REFAM MANAGEMENT SERVICES PRIVATE LIMITED	Additional director	27-04-10	27-04-10	03-01-11	Active	NO
24	U72501DL1987PTC027857	SANCHIT CONSULTANTS PRIVATE LIMITED	Director	27-07-11	24-09-10	22-08-11	Active	NO
25	U51909DL2011PTC212359	QUARTZ IMPEX PRIVATE LIMITED	Additional director	12-03-11	12-03-11	-	Active	NO

Name :

Mrs. Poonam Dhingra

Designation :

Director

Address :

F-6/5, Ground Floor, Vasant Vihar, New Delhi – 110057, India

Date of Birth/Age :

24.05.1961

Qualification :

B. Ed. and MSC – Home Science

Date of Appointment :

12.10.2009

Date of Ceasing :

08.02.2011

DIN No.:

00182127

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1995PTC074189	SURIDHI CONSTRUCTIONS PRIVATE LIMITED	Director	01-10-03	01-10-03	-	Active	NO
2	U45201DL2004PTC129473	MADHUSUDAN BUILDCON PRIVATE LIMITED	Director	28-09-04	28-09-04	-	Dormant	NO
3	U18101DL2004PTC129524	MADHUSUDAN GARMENTS PRIVATE LIMITED	Director	29-09-04	29-09-04	-	Strike off	NO
4	U74999DL2005PLC136202	THAPAR HOMES LIMITED	Additional director	30-09-08	13-05-05	29-03-10	Active	NO
5	U45400DL2007PLC162730	SAB INFRATECH LIMITED	Director	25-04-09	15-09-08	-	Under Process of Striking off	NO
6	U74140DL1999PTC097756	INDU SURVEYORS AND LOSS ASSESSORS PRIVATE LIMITED	Director	21-05-09	04-10-08	-	Amalgamated	NO
7	U74900DL1999PTC098785	CHANAKYA EXPORTS PRIVATE LIMITED	Director	22-05-09	04-10-08	-	Amalgamated	NO
8	U00000DL2000PTC108964	GW IMMIGRATION CONSULTANCY SERVICES INDIA PRIVATE LIMITED	Director	12-05-09	06-10-08	-	Amalgamated	NO
9	U55101DL2006PTC144623	SURIDHI HOSPITALITY PRIVATE LIMITED	Director	21-05-09	06-10-08	-	Active	NO
10	U74899DL1995PTC067182	DIMENSION APPARELS PRIVATE LIMITED	Director	22-05-09	01-11-08	-	Amalgamated	NO
11	U45400DL2008PTC185540	MADHUSUDAN INFRATECH PRIVATE LIMITED	Director	05-12-08	05-12-08	-	Strike off	NO
12	U45400DL2008PTC185608	SURIDHI PROPERTIES PRIVATE LIMITED	Director	08-12-08	08-12-08	-	Active	NO
13	U45400DL2008PTC185609	SURIDHI INFRACON PRIVATE LIMITED	Director	08-12-08	08-12-08	-	Active	NO
14	U45208DL2008PTC178850	BS INFRATECH PRIVATE LIMITED	Director	22-05-09	10-12-08	-	Active	NO
15	U14200DL2008PTC175948	OM MINES AND MINERALS PRIVATE LIMITED	Additional director	06-04-09	06-04-09	-	Active	NO
16	U45201DL2006PTC147720	S.S. CON-BUILD PRIVATE LIMITED	Director	24-09-09	01-06-09	-	Active	YES
17	U74140DL2000PTC103166	JMSW INFRACON PRIVATE LIMITED	Director	10-05-10	12-10-09	08-02-11	Active	NO

KEY EXECUTIVES

Name :	Mr. Anil Butalia
Designation :	General Manager – Project
Qualification :	Science Graduate
Experience :	25 years
Name :	Mr. Inder Dev Sharma
Designation :	Finance and Accounts Manager
Qualification :	M. Com, MBA
Experience :	17 years
Name :	Mr. Hari Om Sharma
Designation :	Senior Project Engineer
Qualification :	Civil Engineer
Experience :	21 years
Name :	Mr. Devendar Kumar
Designation :	Project manager
Qualification :	Civil Engineer
Experience :	11 years

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 31.03.2011)

Names of Shareholders	No. of Shares
Sanjeev Munjal	5000
Poonam Dhingra	500000
Shalloo Munjal	495000
Total	1000000

(AS ON 30.09.2010)

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	The company is engaged in the construction and development of residential properties and undertaking collaboration contracts.
Trading Terms :	Through Sale Deed/ Agreement By Cheque only no credit is taken on given a tall.

GENERAL INFORMATION

Suppliers :

· A. K. Plastic and Packaging Company

· Bharat Stores

· Garg and Company

· Isak Building Materials Suppliers

· Jai Sai Ram Enterprises

· Jawa Sanitary and Hardware Store

· Lokpriya Electricals

· Mars Earthing Solutions

· Mittal Enterprises

· Mittal Tile and Sanitary

· Ram Gopal Contractor

· New Bhola Paints and Hardware Store

· Oyster Bath Concepts Private Limited

· Superior Protection Services

No. of Employees :

18 (Approximately)

Bankers :

· Corporation Bank

IFD Branch, 10^th Floor, Hindustan Times Building, K. G. Marg, Connaught Place, New Delhi – 110001, India

· Bank of Maharashtra

· ICICI Bank

· Indian Overseas Bank

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Kotak Mahindra Pime Limited – For Audi	4.691	0.000
Kotak Mahindra Pime Limited – For Mercedese	6.036	0.000
Kotak Mahindra Pime Limited – For Dezire	1.120	0.000
Total	11.847	0.000

(These Car Loan taken from Kotak Mahindra Prime Limited are secured against the Cheques/ EMI through ECS provided by the company. Further, the cars taken are hypothecated against these borrowings.)

Banking Relations :	--
Auditors :
Name :	GNR and Associates Chartered Accountant
Address :	4348/ 58, 1^st Floor, Padam Singh Road, Karol Bagh, New Delhi – 110005, India
Tel No.:	91-11-41558255
Mobile No.:	91-9810674980
Email :	caanupkgrover@gmail.com
PAN No.:	AATFS9224R

CAPITAL STRUCTURE

(AS ON 31.03.2011)

Authorised Capital :

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

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Share	Rs.10/- each	Rs.10.000 Millions
	(includes 980000 Equity Shares issued for consideration other than cash, as bonus shares)

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		10.000	10.000	0.140
2] Share Application Money		152.588	18.500	0.000
3] Reserves & Surplus		52.428	51.882	60.687
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		215.016	80.382	60.827
LOAN FUNDS
1] Secured Loans		11.847	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		11.847	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.006	0.000
TOTAL		226.863	80.388	60.827
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		15.009	0.412	0.111
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	7.873
DEFERREX TAX ASSETS		0.016	0.000	0.002
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	425.988	8.294	50.339
	Sundry Debtors	0.000	0.334	0.000
	Cash & Bank Balances	10.408	3.561	1.841
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	58.687	149.874	1.161
Total Current Assets		495.083	162.063	53.341
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	1.796	1.928	0.173
	Other Current Liabilities	280.474	80.021	0.071
	Provisions	1.055	0.251	0.334
Total Current Liabilities		283.325	82.200	0.578
Net Current Assets		211.758	79.863	52.763
MISCELLANEOUS EXPENSES		0.080	0.113	0.078
TOTAL		226.863	80.388	60.827

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	9.126	59.000	12.102
		Other Income	0.832	0.441	0.547
		TOTAL (A)	9.958	59.441	12.649
Less	EXPENSES
		Increase/ (Decrease) in WIP	(425.988)	19.090	(19.090)
		Cost of Goods Sold	8.294	22.955	11.274
		Purchases of Properties	329.787	0.000	14.000
		Site Construction Expenses	55.075	6.526	4.902
		Site Indirect Expenses	24.587	0.000	0.000
		Administrative and Other Expenses	13.810	8.998	0.487
		TOTAL (B)	5.565	57.569	11.573
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		4.393	1.872	1.076
Less	FINANCIAL EXPENSES (D)		0.000	0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		4.393	1.872	1.076
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.765	0.026	0.016
	PROFIT BEFORE TAX (E-F) (G)		1.628	1.846	1.060
Less	TAX (H)		0.522	0.596	0.333
	PROFIT AFTER TAX (G-H) (I)		1.106	1.250	0.727
Less/ Add	DEFERRED TAX ASSETS/ (LIABILITY)		0.021	(0.007)	(0.001)
Less	APPROPRIATIONS
		Proposed Dividend	0.500	0.213	0.000
		Tax on Proposed Dividend	0.081	0.035	0.000
	BALANCE CARRIED TO THE B/S		0.546	0.995	0.726
	Earnings Per Share (Rs.)
	- Basic		1.11	1.25	1.04
	- Diluted		0.32	0.97	1.04

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	11.11	2.10	5.75
Net Profit Margin (PBT/Sales)	(%)	17.84	3.13	8.76
Return on Total Assets (PBT/Total Assets}	(%)	0.32	1.14	1.98
Return on Investment (ROI) (PBT/Networth)		0.01	0.02	0.02
Debt Equity Ratio (Total Liability/Networth)		1.37	1.02	0.01
Current Ratio (Current Asset/Current Liability)		1.75	1.97	92.29

LOCAL AGENCY FURTHER INFORMATION

OBSERVATION POINTS

Name of Company:	JMSE Infracon Private Limited
Address:	F-6/5, Vasant Vihar, New Delhi – 110057 (Given) D-6/5, Vasant Vihar, New Delhi – 110057 (Correct)
Mobile No.:	91-9899758586 (Mr. Inder Dev Sharma)
Name Board:	Not Sighted
Visibility of Name Board:	--
Location:	Easy
Landmark (if any)	Near Mehra Sons Jewellers and NIIT Institute
Locality	Residential- Office
Approx. Market Value of Premises	Area (3^rd Floor) – 4500 sq. ft. Area (Basement) – 855 sq. ft.
Area	Up Market
Visibility of Items	--

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

COMPUTATION OF TOTAL INCOME

(JMSW INFRACON PRIVATE LIMITED)

(RS. IN MILLIONS)

Particulars	2011-2012
Income from Business or Profession		1.707
JMSW Infracon Private Limited
Profit as per profit and Loss a/c	1.628
Add:
Donation	0.011
Depreciation Debited in P and L A/c	2.765
Sales Tax Penalty	0.002
Total	4.406
Less:
Depreciation as per Chart u/s 32	2.698
	1.708
Gross Total Income		1.708
Total Income		1.708
Round off u/s 288 A		1.708
Calculation for Mart
Profit as per Part II and III	1.628
Tax Calculated @ 18% on Book Profit is Rs.0.293
Tax Due	0.512
Educational Cess	0.015
	0.527
T.D.S.	0.051
	0.476
Interests U/s 234 A/B/C	0.048
	0.524
Round off u/s 288 B	0.524
Deposit u/s 140 A	0.524
Tax Payable	0.000

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

STATEMENT OF INCOME

(MR. BHUPESH KUMAR DHINGRA)

(RS. IN MILLIONS)

Particulars	2011-2012
Income from House Property
Income from House Property		3.983
Profits and Gains of Business or Profession
Net Income from Professional Activities	10.202
Add: Indamissible Expenses
Audit Fees	0.006	10.208
Income from Capital Gain
Income from Capital Gain		1.071
Income from other Sources
Bank Intt. On S. A/c No.10964547500 with State Bank of India, Vasant Vihar, N D.	0.020
Dividend Income (Exempt – Rs.3603.52)	0.000
Income from PPF (Exempt – Rs.11283.00)	0.000	0.020
Gross Total Income		15.282
Less: Set off of Long Term Capital Losses B/f
Asst. Year 2009-2010	0.111
Asst. Year 2010-2011	0.245	0.356
Gross Total Income (After Capital Losses B/f)		14.926
Less: Deduction u/s 80-C
Aviva Life Insurance (Self)	0.054
Max New York Life Insurance (Daughters)	0.100
Bajaj Life Insurance	0.082
Gross Amount	0.236
Qualifying Amount	0.100
Deductible Amount		0.100
Less: Deduction u/s 80 G (Donations)
To Mata Kaushalya Devi Charitable Trust	0.002
Deductible Amount (50% of Rs.1500)		0.001
		0.101
Net Income		14.824
Income Tax
On Long Term Capital Gain @ 20%	0.143
On Balance income @ Normal rates	4.087	4.230
Add: Education and SHE Cess @ 3%		0.127
Total Tax Liabilities		4.357
Less: Prepaid Tax
TDS on Rent	0.584
TDS on Professional Fees	1.476	2.060
		2.297
Add: Interests U/s 234 B	0.092
Add: Interests U/s 234 C	0.085	0.177
Balance Tax Payable		2.474
Less: Self Assessment Tax Deposited u/s 140 A		2.474
Balance		0.000

BALANCE SHEET

(MR. BHUPESH KUMAR DHINGRA)

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		50.029	43.878	33.791
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		50.029	43.878	33.791
LOAN FUNDS
1] Secured Loans		50.592	48.671	53.654
2] Unsecured Loans		33.730	33.730	16.706
TOTAL BORROWING		84.322	82.401	70.360
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		134.351	126.279	104.151
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		34.935	86.759	77.387
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		77.702	28.964	23.085
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	1.644	1.476	12.669
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	75.190	38.253	21.040
Total Current Assets		76.834	39.729	33.709
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.000	0.000	0.030
	Other Current Liabilities	55.120	29.173	30.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		55.120	29.173	30.030
Net Current Assets		21.714	10.556	3.679
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		134.351	126.279	104.151

PROFIT & LOSS ACCOUNT

(RS. IN MILLIONS)

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Professional Income	10.202	13.469	10.679
		Profit on Transfer of Properties	13.186	0.000	0.000
		Long Term Capital Gain	0.000	0.000	5.327
		Rent Received	5.730	3.876	0.840
		Interests Income	0.035	0.047	0.152
		TOTAL	29.153	17.392	16.998
Less	EXPENSES
		Bank Charges	0.030	0.001	0.052
		Computer Expenses	0.000	0.000	0.016
		Donation	0.002	0.000	0.003
		Interests paid on OD Limit in Firm	2.565	0.000	2.170
		Loss On Redemption of MF	0.000	0.012	0.000
		Processing Fees	0.088	0.000	0.025
		Foreclosure Charges	0.000	0.000	0.306
		Short and Excess	0.001	0.000	0.000
		Legal Expenses	0.000	0.000	0.007
		Travelling Expenses	0.000	0.000	0.240
		TOTAL	2.686	0.013	2.819
	Excess of Income Over Expenditure		26.467	17.379	14.179

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

BALANCE SHEET

(BHUPESH K. DHINGRA AND COMPANY)

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		(27.242)	2.118	0.422
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		(27.242)	2.118	0.422
LOAN FUNDS
1] Secured Loans		31.094	2.060	0.699
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		31.094	2.060	0.699
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		3.852	4.178	1.121
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3.050	3.593	1.532
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	0.461	0.571	0.423
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.750	0.422	0.511
Total Current Assets		1.211	0.993	0.934
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.000	0.000	0.000
	Other Current Liabilities	0.409	0.408	1.345
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.409	0.408	1.345
Net Current Assets		0.802	0.585	(0.411)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		3.852	4.178	1.121

PROFIT & LOSS ACCOUNT

(RS. IN MILLIONS)

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Professional Fees Received	15.032	17.101	14.578
		Professional Expenses W/o	0.000	0.500	0.000
		TOTAL	15.032	17.601	14.578
Less	EXPENSES
		Audit Fees and Services Tax	0.006	0.006	0.006
		Computers Expenses	0.026	0.043	0.036
		Electricity Expenses	0.097	0.090	0.129
		Legal Expenses	0.030	0.007	0.176
		Office Maintenance	0.114	0.168	2.170
		Professional Consultancy Charged	1.542	0.493	1.444
		Salaries	1.934	1.794	1.876
		Other Expenses	0.585	0.934	0.879
		TOTAL	4.334	3.535	6.716
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		10.698	14.066	7.862
Less/ Add	DEPRECIATION/ AMORTISATION		0.496	0.597	0.235
	Excess of Income Over Expenditure		10.202	13.469	7.627

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

STATEMENT OF INCOME

(MRS. POONAM DHINGRA)

(RS. IN MILLIONS)

Particulars	2011-2012
INCOME FROM OTHER SOURCES
Bank Inserted On S. A/c No.97549 with Punjab National Bank, Vasant Vihar, New Delhi	0.002
Bank Interests on S. A/c No.01820010008179 with PNB, Vasant Vihar, New Delhi	0.001
Income from PPF (Exempt – Rs.11283.00)	0.009		0.012
Gross Total Income			0.012
	Gross Amount	Qualifying Amount	Deductible Amount
Less: Deductions u/s Chapter VI A – U/s 80 C
Max New York Life Insurance	0.025	0.025	0.025
- u/s 80 G (Donation) Mata Kaushalya Devi Charitable Trust	0.002	0.002	0.001
Deduction Restricted to			0.012
Net Income			0.000
Income Tax			0.000

CAPITAL ACCOUNT AS ON 31.03.2011

(MRS. POONAM DHINGRA)

Particulars	(Rs. In Millions)	Particulars	(Rs. In Millions)
Shares – Madhusudan Garments Private Limited	0.050	Opening Capital	15.577
Shares – Madhusudan Infratech Private Limited	0.050		0.086
Donation – Mata Kaushalya Devi Charitable Trust	0.002		0.001
Locker Rent	0.001	Dividend – SBI Mutual Fund	0.002
Bank Charged	0.000	Dividend – JMSW Infracon Private Limited	0.012
Gift to Daughter – Ridhi Dhingra	0.151	Interests on Income Tax Refund	0.106
		Interest on PPF	0.009
		Short and Excess	0.012
Closing Capital	15.551
Total	15.805	Total	15.805

BALANCE SHEET

(MRS. POONAM DHINGRA)

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		15.551	15.577	15.275
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		15.551	15.577	15.275
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		15.551	15.577	15.275
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.587	0.587	0.587
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		16.572	17.167	16.481
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	0.666	0.097	0.478
	Other Current Assets	0.000	0.000	0.006
	Loans & Advances	0.003	0.003	0.000
Total Current Assets		0.669	0.100	0.484
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	2.277	2.277	2.277
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		2.277	2.277	2.277
Net Current Assets		(1.608)	(2.177)	(1.793)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		15.551	15.577	15.275

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

COMPUTATION OF TOTAL INCOME

(MR. SANJEEV MUNJAL)

(RS. IN MILLIONS)

Particulars	2011-2012
Income from salary		3.000
JMSW Infracon Private Limited
E-59, Masjid Moth, Greater, New Delhi
Salary	3.000
Income from House Property		0.672
G-56, Seikh Sarai, New Delhi
Annual Lettable Value
Rent Receivable 960000	0.960
Higher of Above
Annual Rental value u/s 23
Less:
Deduction u/s 24 (a)	0.288
	0.672
Income from Business or Profession		0.537
Sanjeev Munjal
Profit as per Profit and Loss A/c	0.537
Add:
Depreciation debited in P and L A/c	0.154
Total	0.691
Less:
Depreciation as per Chart u/s 32	0.154
	0.537
Income from other Sources		0.195
Interests from Bank	0.035
Interests on FDR	0.160
Gross Total Income		4.404
Less: Deductions
u/s 80C
LIP	0.236
	0.100
u/s 80 D	0.005
Total Income		4.299
Rounded Off u/s 288A		4.299
Income Exempt u/s 10
Tax Due	1.144
Educational Cess	0.034
	1.178
TDS	1.003
	0.175
Interests u/s 234 A/B/C	0.013
	0.188
Tax Payable	0.188	0.000

BALANCE SHEET

(MR. SANJEEV MUNJAL)

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		27.694	21.034	13.941
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		27.694	21.034	13.941
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		15.900	15.500	15.000
TOTAL BORROWING		15.900	15.500	15.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		43.594	36.534	28.941
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.874	1.028	1.210
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		5.505	6.242	8.787
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	1.570	11.649	4.182
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	35.707	17.623	14.870
Total Current Assets		37.277	29.272	19.052
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.000	0.000	0.000
	Other Current Liabilities	0.062	0.008	0.108
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.062	0.008	0.108
Net Current Assets		37.215	29.264	18.944
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		43.594	36.534	28.941

PROFIT & LOSS ACCOUNT

(RS. IN MILLIONS)

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sales of Property	0.000	3.000	0.000
		Commission	0.863	1.000	0.288
		Supervisions Charges	0.000	0.000	1.000
		TOTAL	0.863	4.000	1.288
Less	EXPENSES
		Purchases Cost of Property	0.000	2.500	0.000
		Insurance Car	0.013	0.035	0.000
		Bank Charges	0.002	0.000	0.001
		Conveyance	0.000	0.000	0.123
		Electricity Expenses	0.000	0.000	0.005
		Telephone Expenses	0.000	0.000	0.028
		Office Repair and Maintenance	0.000	0.005	0.000
		Business Promotion	0.013	0.064	0.108
		Vehicles Running and Maintenance	0.053	0.055	0.000
		Professional Charges	0.008	0.006	0.000
		Salary	0.078	0.072	0.070
		Staff Welfare	0.005	0.000	0.000
		Auditors Remunerations	0.000	0.007	0.009
		TOTAL	0.172	2.744	0.344
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.691	1.256	0.944
Less/ Add	DEPRECIATION/ AMORTISATION		0.154	0.182	0.214
	NET PROFIT		0.537	1.074	0.730

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

COMPUTATION OF TOTAL INCOME

(MRS. SHALLOO MUNJAL)

(RS. IN MILLIONS)

Particulars	2011-2012
Income from House Property		0.672
G-56, Seikh Sarai, New Delhi
Annual Lettable Value
Rent Receivable 960000
Higher of Above	0.960
Annual Rental value u/s 23
Less:
Deduction u/s 24 (a)	0.288
	0.672
Income from Business or Profession		0.837
Sanjeev Munjal
Profit as per Profit and Loss A/c	0.837
Add:
Depreciation debited in P and L A/c	0.016
Total	0.853
Less:
Depreciation as per Chart u/s 32	0.016
	0.837
Gross Total Income		1.509
Less: Deductions
u/s 80C
LIP	0.034
u/s 80 D	0.005	0.039
Total Income		1.470
Rounded Off u/s 288A		1.470
Income Exempt u/s 10		0.036
Tax Due	0.292
Educational Cess	0.009
	0.301
TDS	0.099
	0.202
Interests u/s 234 A/B/C	0.016
	0.218
Tax Payable	0.218	0.000

BALANCE SHEET

(MRS. SHALLOO MUNJAL)

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		4.467	2.885	1.697
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.467	2.885	1.697
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		4.502	4.377	2.520
TOTAL BORROWING		4.502	4.377	2.520
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		8.969	7.262	4.217
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.090	0.106	0.125
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		6.571	5.865	2.550
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	0.417	0.857	1.411
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.891	0.435	0.131
Total Current Assets		2.308	1.292	1.542
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.000	0.000	0.000
	Other Current Liabilities	0.000	0.001	0.000
	Provisions	0.000	0.000	0.000
Total Current Liabilities		0.000	0.001	0.000
Net Current Assets		2.308	1.291	1.542
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		8.969	7.262	4.217

PROFIT & LOSS ACCOUNT

(RS. IN MILLIONS)

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Commission	0.900	0.000	0.000
		Supervisions Charges	0.000	0.500	0.500
		TOTAL	0.900	0.500	0.500
Less	EXPENSES
		Insurance Car	0.018	0.002	0.000
		Vehicles Running and Maintenance	0.026	0.000	0.000
		Professional Charges	0.003	0.003	0.003
		TOTAL	0.047	0.005	0.003
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.853	0.495	0.497
Less/ Add	DEPRECIATION/ AMORTISATION		0.016	0.019	0.022
	NET PROFIT		0.837	0.476	0.475

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

NET WORTH STATEMENT

MRS. POONAM DHINGRA

(RS. IN MILLIONS)

IMMOVABLE PROPERTY

Description	Address	Value	Debt Owned in Relation to the Assets
Building Urban Land	Flat at 801, Padma Tower – II, Rajendra Place New Delhi, India	0.487	0.487
Total		0.487	0.487

MOVABLE PROPERTY

Description	Value	Net Amount
Motor Cars	0.000	0.000
Jewellery etc.	6.046	6.046
Yachts	0.000	0.000
Cash in Hand	0.000	0.000
Total	6.046	6.046

ASSETS CLAIMED EXEMPT

Description of Assets	Value
Investment Shares	10.600
Share Application Money	2.302
Mutual Fund	0.535
Current Assets and Loan, Advances	0.747

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

NET WORTH STATEMENT AS ON 31.07.2011

MR. BHUPESH KUMAR DHINGRA

(RS. IN MILLIONS)

Particulars	Amount
ASSETS
Immovable property
1. House No. F-6/5, Ground Floor, Vasant Vihar, New Delhi – 110057 F.M. V. Approx)	160.000
2. Property at F-6/5, Basement, Vasant Vihar, New Delhi	90.000
3. Property at Plot No.B-20, Green Wood City, Gurgaon, Haryana (F.M. V. Approx)	100.000
4. property at 604, Padma Tower – II, Rajendra Place, New Delhi (FMV Approx)	10.000
Movable Property
A] Household Items	1.367
B] Jewellery (F.M.V. Approx.)	0.620
C] Investments - In Shares
Equity Shares with Suridhi Hospitality (Private) Limited	1.975
Equity Shares with Quartz Impex Private Limited (2500 Shares)	0.025
Equity Shares with Newera Sanitary Ware Private Limited	0.050
Equity Shares with S S Con Build Private Limited (0.400 Million Shares)	4.000
Equity Shares with Suridhi Construction private Limited (7000 shares)	17.710
Equity Shares with Suridhi Properties Private Limited (5000 shares)	0.050
Equity Share with Thapar Homes Limited	0.250
- In Units of Mutual Fund
Aviva Life Insurance	0.752
Magnum Tax Gain Fund	0.050
Max New York Life Insurance Company Limited	0.357
Reliance Tax Saver Funds	0.050
- Share Application Money
B S Infratech Private Limited	12.551
D. M. Infotech Private Limited	0.620
Saffron Hemrattan Private Limited	1.250
Suridhi Hospitality (Private) Limited	3.689
ANB Promoters and Developers Private Limited	0.000
Vanguard Media private Limited	8.100
Capital with Bhupesh K. Dhingra and Company	2.235
JMSW Infracon private Limited	43.630
PPF	0.157
Current Assets and Loans and Advances
- Other Deposits	0.571
- Loans and Advances	--
Life Long Real Estate Private Limited	5.100
Stamp Papers D-8, Soami Nagar, New Delhi	0.217
IS Grewal	1.700
Kamal Grewal	1.700
Miracle Fashions	2.500
S S Con Build Private Limited	0.972
Allons Marketing Network Private Limited	0.025
Surdhi Infracon Private Limited	11.221
Cash in Hand	5.052
Bank Balance in Saving A/c No.305913 with State bank of India, East Patel N agar, New Delhi	0.015
Bank Balance in Saving A/c No.2656 with Corporation Bank Rajendra Place, New Delhi	0.272
Bank Balance in Saving A/c No.9188 with HDFC Bank	0.013
Total Assets	488.846
Less: LIABILITIES
Secured Loans
- Standard Chartered Bank Home Saver Against Vasant Vihar Property (Ground floor)	7.613
Standard Chartered Bank in (On Account Bhupesh K. Dhingra and Company)	29.540
Unsecured Loans
A. K. Raina	3.000
Apporv Kumar	0.300
Bhupesh Kumar (HUF)	26.850
Chander Kanta	3.575
Advance Received
Abha Bansal	2.000
Sanjeev Kumar Anand	10.000
Michelin India Tyres Private Limited	0.293
Current Liabilities
Security Deposit Received	0.975
Bank Overdraft	34.595
TOTAL LIABILITIES	118.741
NET WEALTH	370.105

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

NET WORTH STATEMENT AS ON 30.06.2011

MR. SANJEEV MUNJAL

(RS. IN MILLIONS)

Particulars	Amount
ASSETS
Share in Property at E-59, Masjid Moth, Greater Kailash – III, New Delhi – 110048 (Market Value)	50.000
Shop at Savitri Cenema Complex (50%)	10.000
Shop No.G-56, Triveni Complex, Seith Sarai New Delhi (50%)	15.000
Movable Assets
Jewellery Gold (At Cost)	0.106
Share of Munjal Apartments Private Limited	0.005
Share of Indian Charges Chrom	0.024
Share of Thapar Group of Companies	0.020
Share of Lotus Finance Company	0.010
Share of Master Share Plus	0.013
Share of Rangoli Infotech Private Limited	0.050
Share of JMSW Buildwell Private Limited	0.050
ICICI Prudential Limited	0.200
Share of Reliance Power	0.007
Share (Quartz Impex Private Limited)	0.025
Car Honda Acord (Market Value)	0.650
Share of JMSW Infracon Private Limited (5000 Shares)	0.509
Current Assets and Loans and Advances
Ashwani Kumar	0.300
Advances For Plot No.JGNTNH000004 with J. P. Associates Private Limited	11.372
Advance With M/s Alliance Building Corp. Private Limited	0.500
Advance For plot in sec. 60 Gurgaon	2.000
Radient Personalised Services	2.700
Raj Rani Securities Private Limited	0.020
Adv. To Saneev Munjal HUF	0.010
Adv. To Shalloo Munjal	2.517
Rangoli lnfo. Company Private Limited	0.500
JMSW Buildwell (Private) Limited	0.006
Cash in hand	0.144
JMSW lnfracon Private Limited	7.004
Ujala Properties Private Limited	9.500
Advance Tax and TDS	1.097
Bank Balance	0.013
TOTAL ASSETS	114.354
Less: LIABILITIES
Unsecured Loans
A. N. Construction	9.500
J. L. Munjal	6.100
Laxmi Munjal	0.400
TOTAL LIABILITIES	16.000
NET WORTH	98.354

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

NET WORTH STATEMENT AS ON 30.06.2011

MRS. SHALLOO MUNJAL

(RS. IN MILLIONS)

Particulars	Amount
ASSETS
Immovable Assets
Shop No.G-56, Triveni Complex, Seith Sarai New Delhi (50%)	15.000
50% Terrace over and above 3rd floor in Bld. No. D-7, Defence Colony.	1.605
Movable Assets
Maruti Car	0.106
Birla Sunlife	0.050
DSP Black Rock Micro Cap Fund	0.035
Fidielity India Growth Fund	0.035
HDFC To 200	0.035
ICICI Prudential Discover Fund	0.035
NHPC Public Issue	0.025
Reliance Banking Fund	0.014
Share Bharti Airtel Limited	0.040
Share BSES Infrastructure	0.558
Share OLE Limited	0.020
Share GIC Housing Finance	0.070
Share of GMR Infra. Limited	0.071
Share HFCL	0.164
Share Hindustan Construction	0.024
Share of J.P. Associates Limited	0.258
Share J.P. Hydro	0.020
Share of L & T	0.737
Share Power Gri	0.026
Share Punj Llyod	0.058
Share Reliance com	0.062
Share Reliance Indl. Infrastructure	0.541
Share Reliance Petroleum	0.543
Share Reliance Power	0.007
Share of RIL	0.664
Share of RNRL	0.024
Share Tata Chemicals	0.065
Share Tata investment Company	0.095
Share Transport Corporation	0.069
Share Unitech Limited	0.121
UTI Infrastructure Bonds	0.100
Current Assets and Loans and Advances
Intercontinental Eros	0.199
Cash in hand	0.129
Bank Balance	0.260
TOTAL ASSETS	21.864
Less: LIABILITIES
Unsecured Loans
Sanjeev Munjal	2.517
J L Munjal	1.300
Rangoli Infocom (Private) Limited	0.500
TOTAL LIABILITIES	4.317
NET WORTH	17.547

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VALUATION REPORT OF IMMOVABLE PROPERTY

PART – I QUESTIONNAIRE

GENERAL INFORMATION

Purpose for which valuation is made	To assess the fair market value of the property for Bank purposes.
Date as on which valuation is made	27.08.2011
Name of the owner/owners	JMSW Infracon Private Limited.
If the property is under joint ownership, Co-ownership, share of each owner. Are the shares undivided?	In company name.
Brief description of the property	The owners are having a third floor with front side terrace roof rights i.e. = 2500 sq ft. at front side terrace + 500 sq ft. at back side common terrace I.e. total = 3O00 sq ft. in a 4 storied building with a Basement i.e. Basement, G.F., F.F., S.F. and T.F. on a plot area of= 1000 sq yds = 836.12 sq m 9000 sq ft. constructed with a sanctioned building plan during year 010-1 1. The owners have newly constructed structure of the building which has been completed except finishing works i.e. flooring, plastering, painting, fixing of doors and windows, electrical works, sanitary works, etc. finishing works are yet to be completed and which are in progress.
Location, Street, Ward No./ Survey/ Plot No. of land.	Plot N0. 6, in Block- D, Third Floor with front side terrace roof rights, situated in the colony known as New Delhi South Extension Part-Il, in the Revenue Estate of Village Mubarakpur Kotla, on Ring Road, New Delhi - 110057.
Is the property situated in residential Commercial/mixed area/industrial area	Notified Commercial Area
Classification of locality-high class/ Middle class/poor class.	Middle Class
Proximity to civic amenities, like schools, Hospitals, offices, markets, cinemas, etc.	All available nearby within 3-15 km distance.
Means proximity to surface communication by which the locality is served.	By surface road transport.
LAND
Area of land supported by documentary proof, shape, dimension and physical features.	Total area of plot 1000 sq yds = 836.12 sq m = 9000 sq ft.
Roads, streets or lanes on which the Land is abutting
North East South West	Front service road and Main Ring Road. Plot No. D-5. Service Road. Plot No. D-7.
Is it freehold or leasehold land?	Freehold
Is there any restrictive convenient in regard to use of land? If so, attach a copy of covenant	For commercial use.
Dose the land fall in an area included in any Town Planning Plan of Government Or any statutory body? If so, please give Particulars.	Maintained by MCD.
Has any contribution been made towards development or is any demand for each contribution still outstanding?	The owners will report.
IMPROVEMENTS :-
Is the building owner-occupied /tenanted /both?	The third floor with front side terrace roof rights with the owners occupied.
RENT
If a pump Is installed, who has to bear the cost of maintenance and operation- owner or tenant?	By the owners
Who has to bear the cost of electricity charges for lighting of common space like entrance hall, stairs, passages, compound etc., - Owner or tenant?	By the owners
What is the amount of property tax? Who is to bear it? Give details with documentary proof.	The owner has paid the property tax of Rs.10,659.00 to MCD property Ref. Id No.065530717630 dated 29.05.2009 for year 2009-10.
SALES
Give instances of the sales of immovable property in the locality on a separate sheet, indicating the name and address of the property, registration No., sale price and area of land sold.	No such instance of sale is available in this case.
If sale instances are not available or not relied upon, the basis of arriving at the land rate.	As enquired from the Local Real Estate Agents and the residents of the area.
COST OF CONSTRUCTION:
Year of commencement of construction and year of completion	Constructed with a sanctioned building plan 4uring year 20 10-11 and finishing works is in progress.
What was the method of construction by contract/ by employing Labour direct/ both?	By Contract/ Builder.

TECHNICAL DETAILS FOR THE PREMISES

No. of floors and height of each floor.	Third Floor Ht. 10’-0”
Year of Construction	Constructed with a sanctioned building plan during year 2010-11 and finishing works is in progress.
Estimated future life.	65 years
Type of construction- - Load bearing walls/ RCC frame/ steel frame	Load bearing walls and RCC structure.
Type of foundation	Spread and Raft Foundation.
(a) Basement and plinth	--
(b) Ground floor	9” thick brick walls in cement mortar.
(c) Super structure above ground floor	--
Partitions	4 ½” thick (half) brick walls in cement mortar.
Doors and windows (Floor wise)	Yet to be provided.
Flooring (Floor wise)	Yet to be provided.
Finishing (Floor wise)	Yet to be provided.
Roofing and terracing.	RCC. Slab
Special architectural or decorative features.	Good Look
Electrical Installations
a) Internal wiring- surface or conduit.	Concealed conduit wiring - Yet to be provided.
b) Class of fittings superior/ ordinary /poor	Good quality - Yet to be provided.
a) Sanitary installations.	Yet to be provided.
b) Class of fittings superior colored/ superior white/ ordinary.	Yet to be provided.
Compound Wall. - Height and length. - Type of construction	Sides and back compound wall about 6’ high. Brick Masonry.
No. of lifts and capacity.	2 Nos. - Yet to be provided.
Underground sump- capacity and types of construction	1 No. Front side under ground water tank – Yet to be provided.
Overhead Tank.
a) Where located.	At terrace of third floor.
b) Capacity	2000 liters.
c) Type of construction.	P.V.C.
Pumps Nos. and their horsepower.	1 No of 1 H.P.
Roads and paving within the compound, approx. area.	Marble road - Yet to be provided.
Sewage disposal / whether connected to public sewers. If septic tanks provided, no and capacity.	Connected to MCD sewer.
Regards to Aesthetics and environment.	Normal
Safety considerations fires, earthquakes, and tides.	Not provided

VALUATION REPORT

Property No.: Plot. No. 6, in Block- D, Third Floor with front side terrace roof rights, situated in the colony known as New Delhi South Extension Part-Il, in the Revenue Estate of Village Mubarakpur Kotla, on Ring Road, New Delhi - 110057.

Owners: JMSW Infracon Private Limited.

Through its Director: Mr. Sanjeev Munjal s/o J. L. Munjal.

On the instructions received from the Corporation Bank - Industrial Finance Branch, 10th Floor, Hindustan Times Building, Connaught Place, New Delhi - 110001, the above stated property of Plot No. 6, in Block- D, Third Floor with front side terrace roof rights, situated in the colony known as New Delhi South Extension Part-IT, in the Revenue Estate of Village Mubarakpur Kotla, on Ring Road, New Delhi - 110057, in the presence of the owner’s representative Mr. Inder Dev Sharma, to assess the present fair market value of the property for Bank purposes. The fair market assessment of the property is based on the basis of information, statements and documents furnished by the owners, Bank and inspection made at site.

The owners are having a third floor with front side terrace roof rights i.e. = 2500 sq ft. at front side terrace + 50.0 sq ft. at back side common terrace i.e. total = 3000 sq ft. in a 4 storied building with a Basement i.e. Basement, G.F., F.F., S.F. and T.F. on a plot area of 1000 sq yds = 836.12 sq m = 9000 sq ft. constructed with a sanctioned building plan during year 2010-11. The owners have newly constructed structure of T.F. of the building which has been completed except finishing works i.e. flooring, plastering, painting, fixing of doors and windows, electrical works, sanitary works, etc. finishing works are yet to be completed and which are in progress. The owners are having a share of 18.5% area i.e. 598.20 sq ft. at rear portion for car parking of the Basement the building is situated on Main Ring Road, at New Delhi South Extension Part- II, New Delhi – 110057 and on this road commercial businesses i.e. Showrooms, Shops, Banks, etc. are running. The details of the materials and technical specifications used in the construction are described at pages 5 and 6 of the valuation report.

The assessment of the valuation is based on the basis of method of “Land and Building Method”. The fair market valuation of this property is based on the basis of prevailing fair market rate of land as enquired from the Local Real Estate Agents and the residents of the area which ranges from Rs.11,00,000/- to Rs.11,50,000/- per sq yd depending on the location of the plot in the area, as the building is situated on Main Ring Road, at New Delhi South Extension Part-Il, New Delhi - 110057 and on this road commercial businesses i.e. Showrooms, Shops, Banks, etc. are running near by in this area on this Main Road. But the rate of land as Rs.11,00,000/- per sq yd in the fair market assessment of the property. The rate of construction is based on the C.P.W.D. plinth area rates of the period and into date depending on the type of construction of work done.

The details of the assessment is given as under:-

THE VALUATION OF THE PROPERTY AS PER CIRCLE RATE:

The circle rate of land as per Notification of Revenue Department, GNCTD of Delhi w.e.f. 18.07.2007 and amended in 2011 is Rs.68,200 x 3 Rs.2,04,600/- per sq m for category ‘B’ (New Delhi South Extension Part II in commercial area)

Where as the circle rate is only indicative rate for stamp duty for registration purpose only.

The market transaction is done as per market rate only.

Total area of plot 1000 sq yds = 836.12 sq m = 9000 sq ft.

Since there are 4 floors with a Basement i.e. Basement, G.F., F.F., S.F. and T.F. i.e. 5 portions.

Circle rate of land = Rs.68,200 x 3 Rs.2,04,600/- per sq m.

Circle rate of construction = Rs.11,875/- per sq m.

Therefore value of land of third floor as per circle rate= 836.12 x 2,04,600 x 18.5/100 = Rs.31.648 Millions

Therefore value of construction of third floor as per circle rate = 473.98 x 11,875 = Rs.5.629 Millions

Therefore total value of third floor as per circle rate = Rs.37.276 Millions

THE VALUATION OF THE PROPERTY AS PER MARKET RATE:

A. COST OF LAND

Area of plot = 1000 sq yds = 836.12 sq m = 9000 sq ft.

Less land coming under widening of road i.e. R.O.W. = 60’ x 5’ 300 sq ft = 33.33 sq yds.

Net area of the land of plot = 1000—33.33 = 966.67 sq yds.

Prevailing fair rate of land is taken = Rs.11,00,000 per sq yd.

[Being on New Delhi South Extension Part-lI and land is used as commercial]

Therefore cost of Land = 966.67 x 11,00,000.00 = Rs.1063.337 Millions

Since there are 4 floors and basement i.e = G.F. + F.F. + S.F. + T.F. with front side terrace

Ratio of share of land of each floor = 64% + 17.5% + 18.5% = 100

The basement is use for car parking

Since the owners are having third floor i.e. 18.5% share cost of land.

Therefore cost of share of land of the owners:

Cost. of share of land of Third Floor 18.5

------------x 106.337 Millions = Rs.196.717 Millions

100

B. COST OF CONSTRUCTION

Covered area of third floor = 4504 sq ft.

Covered area in basement at back side as share of third floor as per sale deed = 598 sq ft.

Therefore total covered area = 5102 sq ft.

Part rate of construction is taken = Rs.1200/- per sq ft.

Therefore cost of construction = 5102 x 1200.00 Rs.6.122 Millions

Add L.S. cost of mumty, steel gate, water tanks, etc. = Rs.0.100 Million

Total cost of constructions of third floor = Rs.6.222 Millions

Therefore total cost of property cost of land +cost of const. = A+B = Rs.202.940 Millions

Distress value realizable value of the property will be Rs.172.498 Millions

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NOTE:

The Registered Office of the company has been shifted from, E-59, Masjid Moth, Greater Kailash – III, New Delhi – 110048, India, to the present address w.e.f. 28.10.2010.

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PERFORMANCE REVIEW:

The company has been completing the construction of a collaboration projects undertaken by it and expected to be completed In this month and then shall be sold off or transferred to the prospective buyer(s). The company has not made any sales of properties during the year, against the sales of Rs.37.250 Millions in the immediately preceding year. However, the company has successfully carried out construction activities and gets work done till the date of balance sheet of value Rs.426.004 Millions.

Apart from this the company has also achieved the sales of Rs.9.126 Millions of fabrics goods as compared to sales of fabrics Rs.21.750 Millions in the preceding year. The company was also carrying on the retail/wholesale business of such fabrics under a separate unit named M/s ANG Creations.

The company has also made further advances to acquire new projects of construction and development of which be commenced soon. The directors are hopeful that business and profitability of the company will increase in the coming year and also the company will do good business in the future.

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FIXED ASSETS:

· Air Conditioner

· Computers

· Office Equipments

· Furniture and Fixtures

· Scooter and Motor Cycle

· Storage Racks

· Cars

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WEBSITE DETAILS:

Key Managerial Personnel of the Company

Mr. Sanjeev Munjal (Director)

Mr. Sanjeev Munjal, having 20 years experience in the construction of residential flats, houses, commercial spaces, farm houses Malls etc. During the life time, he has own contributing their efforts in developing, constructing, completion about 38-40 buildings, which consisting of 3-4 floors. The buildings completed were equipped with the modern facilities, well furnished and up to date living standards. He has completed varieties of residential buildings covering land areas of 200-1600 sq. yrds. The construction and development works were completed in the posh localities of the South Delhi major colonies are Hauz Khas, Green Park, Defence Colony, Vasant Vihar, Greater Kailash, Safdarjung, Farms Areas like Sultanpur Farms. With the experience for past 20 years, he has gathered all the knowledge to deal with the authorities, obtains the requisite sanctions, to make lawful compliance of the rules framed for construction of the building etc. The main focus of the person is to provide the good living style with comfort to the people who will stay in the houses developed by him. The focus is the satisfaction and service to the customers. The most satisfying achievement of all being a list of more than a 100 satisfied customers in his portfolio.

Mrs. Shalloo Munjal (Director)

Mrs. Shalloo Munjal, , Graduate in fine Arts, having 5-6 years experience in the field of Interior Design. She is actively participating in giving the finer finishing touch to all the projects. Keen participant in the Art Décor of all the projects. Also an armature contemporary Artist.

Mr. B. K. Dhingra (Director)

Mr. B K Dhingra, qualified Chartered Accountant having experience of more than 28 years in the Chartered Accountancy practice. Mr. B K Dhingra, entered into the Real estate Development and construction business in 2005. With his vast experience and expertise in finance his inputs to the current field of work, the same has proved to be a boon to the company. Mr. Dhingra‘s financial wizardry certainly makes the projects all the more economically viable for the company and the clients. His finance background of 28 years has helped the company in many ways, be it organizing finances, efficient banking and immaculate financial planning.

Mrs. Poonam Dhingra (Director)

Ms. Poonam Dhingra, qualified B. Ed , and MSC – Home science. She is involved managing day to day affairs of the company. She with her Home science background uses the same to full capacity in giving the apartments a feel of warmth along with the luxury aspect that goes into them.

Mr. Anil Butalia (G.M. Projects)

Mr. Anil Butalia a science graduate from Delhi University and a qualified interior designer, with 25 years of experience of construction and interiors behind him is involved in managing all the projects undertaken by the company. He has a keen eye to detail and quality. Proficient in handling and timely execution of projects to perfection. Also good at understanding the latest technologies and adapting to the same for implementing for betterment of the projects. Thorough knowledge of all fields in regards to civil and interior projects.

Mr. Inder Dev Sharma (M. Com, M.B.A.)

Mr. Inder Dev Sharma is Finance and Accounts Manager having 17 years experience in the accounts and finance line. He is also having 7 years experience in construction and real estate development. He is looking after all the matters related to financial management of the company.

Mr. Hari Om Sharma (Senior Project Engineer)

Mr. Hari Om Sharma is a civil engineer with 21 years of experience behind him in the field of construction of all kinds of buildings. Has an exceptional quality in handling civil contractors and labor. He is a stickler to timely execution and quality finishes. He is a master of his own field. A contentious worker and a boon on any project.

Mr. Devandar Kumar (Project Engineer)

Mr. Devandar Kumar a qualified Civil Engineer with 11 years of experience behind him in the field of construction. Is an expert of sorts where any kind of structure is concerned. He can handle labor and is proficient in his field.
Besides the above key personal there are various purchase executives, store keepers, site supervisors, accountants etc.

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.49.02
UK Pound	1	Rs.77.13
Euro	1	Rs.67.56

SCORE & RATING EXPLANATIONS

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

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	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.