MIRA INFORM REPORT

 

 

Report Date :

04.07.2012

 

IDENTIFICATION DETAILS

 

Name :

POLO PLUS CONTAINERS

 

 

Registered Office :

C. C. Chambers,  B/H. Old Bus Stand, At and Post Limbadi, District   Surendranagar, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2012 (Provisional Balance Sheet)

 

 

Date of Incorporation :

September, 2011

 

 

Firm Reg. No.:

GUJ-BVN-12617 Dated 17.11.2011

 

 

Capital Investment / Paid-up Capital :

Rs.12.800 Millions

 

 

IEC No.:

2411009232 (Dated 31.10.2011)

 

 

PAN No.:

[Permanent Account No.]

AANFP 0103C

 

 

Legal Form :

Partnership Concern with an Unlimited Liability of the Partners 

 

 

Line of Business :

Manufacturer of High Density Polyurethane (HDPE) Multi Layer/Three Layer, Unbreakable Water Storage Tanks, Double Layer Water Storage Tanks and Other various size and type of Water Tanks.

 

 

No. of Employees :

53 (Approximately) (Office – 25 and Factory – 28) 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

-

NB

                                       New Business

 

-

 

 

Status :

New Concern

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is a new partnership concern and yet to complete its one full year of operation. The company expects a sizeable turnover from its first year of operations. Trade relations are reported as fair. Business is active. Payments are unknown.

 

The concern can be considered for business dealings terms and conditions, initially.

 

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. Nimish Shah

Designation :

Corporate Consultant

Contact No.:

91-9824033827

Date :

02.07.2012

 

 

LOCATIONS

 

Registered Office :

C. C. Chambers,  B/H. Old Bus Stand, At and Post Limbadi, District   Surendranagar, Gujarat, India

Tel. No.:

91-2753-262146/ 260146

Mobile No.:

91-9825232229

91-9824033827 (Mr. Nimih Shah)

Fax No.:

Not Available

E-Mail :

dcgroupofcompany@yahoo.com

Area :

250 sq. ft.

Location :

Owned

 

 

Factory :

Revenue Survey No. 441/Paiki-2, Mouje:- Bhal Gamda, At and Post:- Limbadi, District   Surendranagar, Gujarat, India

Area :

90,000 sq. ft.

Location :

Owned

 

 

PARTNERS

 

Name :

Mr. Hitesh Masrani

Designation :

Partner

Address :

40/B, Yogeshwar Park society, Near Tapovan Society, 80 Feet Road, City: Surendranagar, Gujarat, India

Date of Birth/Age :

41 years

Qualification :

Commerce Graduate

Experience :

19 years

PAN No.:

AALPN5557G

 

 

Name :

Mr. Hirensinh Rana

Designation :

Partner

Address :

332/1, At Bhalgamda, Tal.-Limbadi, District Surendranagar, Gujarat, India

Date of Birth/Age :

30 years

Qualification :

Art Graduate

Experience :

5 years

PAN No.:

AIVPR2176H

 

 

Name :

Mr. Kishorkumar  Karshandas Davda

Designation :

Partner

Address :

5/4, New Jalcon Apartment, Near Sarita School, Vejalpur, Ahmedabad, Gujarat, India

Date of Birth/Age :

45 years

Qualification :

Commerce Graduate

Experience :

22 years

PAN No:

AIZPD6694E

 

 

Name :

Mrs. Prafulaben Sedani

Designation :

Partner

Address :

Parikunjm B/18, Mahavir Society, Ashopalav Marg, City Jamnagar, India

Date of Birth/Age :

48 year

Qualification :

Art Graduate

PAN No.:

AZAPS7092M

 

 

KEY EXECUTIVES

 

Name :

Mr. Nimish Shah

Designation :

Corporate Consultant

Address :

Ahmedabad, Gujarat, India

 

 

Name :

Mr. Avinash Shah

Designation :

Technical Advisor

Qualification :

B. E. (Electricals)

Experience :

7 years

 

 

Name :

Mr. Pritesh Patel

Designation :

Production In-charge

Qualification :

Diploma in Plastic Engr. (Nirma Uni)

Experience :

5 years

 

 

Name :

Mrs. Milan Khakhi

Designation :

Accounts Manager

Qualification :

M. com.

Experience :

15 years

 

 

Name :

Mr. Ramesh Ghodasara

Designation :

Legal Head

Qualification :

LLB

Experience :

7 years

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of High Density Polyurethane (HDPE) Multi Layer/Three Layer, Unbreakable Water Storage Tanks, Double Layer Water Storage Tanks and Other various size and type of Water Tanks.

 

 

Terms :

 

Selling :

Credit (30 days)

 

 

Purchasing :

Cash

 

 

 

PRODUCTION STATUS

 

Particulars

 

Installed Capacity

Actual Production

 

 

 

High Density Polyurethane (HDPE) Multi layer/three layer, unbreakable water storage tanks, double layer water storage tanks and other various size and type of water tanks. The firm has proposed to manufacture various shaped and size water storage tanks ranging between 200 Ltrs, 300 Ltrs, 400 Ltrs, 500 Ltrs, 750 Ltrs, 1000 Ltrs and 1200 Ltrs.

The installation capacity of the machinery proposed

to be installed will be

around 100,000 water

tanks in various sizes

and types per annum

assuming 300 working

days in a year.

 

Not Applicable as this being the new project.

 

 

 

GENERAL INFORMATION

 

Customers :

Wholesalers and Retailers

 

 

No. of Employees :

53 (Approximately) (Office – 25 and Factory – 28) 

 

 

Bankers :

·         Bank of India

Wadhvan GIDC Branch, Wadhvan, Surendranagar, Gujarat, India

 

·         Bank of Baroda,

Limbadi Branch, Limbadi, District Surendranagar, Gujarat, India

 

 

 

Banking Relations :

--

 

 

Auditors :

Yet to be appointed

 

 

Associates/Subsidiaries :

·         D C Sales Corporation

Address : D. C. Chambers, B/H. Old Bus Stand, At and Post:-Limbadi, District Surendranagar, Gujarat, India

 

·         Jay Ganesh Plasto Containers

Address : GIDC, Limbdi, District Surendranagar, Gujarat, India

 

·         Padmavati Plastic Industries

Address : 139/10 GIDC, Limbdi, District Surendranagar, Gujarat, India

 

 

CAPITAL STRUCTURE

 

(AS ON 31.03.2012 - Provisional)

 

Particulars

(Rs. In Millions)

 

Partners Capital A/c

 

 

Mr. Hitesh Dhirajlal Masrani

7.700

Mr. Prafula Jagdish Sadani

2.500

Mr. Hiren Hitendrainh Rana

1.500

Mr. Kishore Karwhanadas Davda

1.100

 

 

Total

 

12.800

 

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

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

The above information has been parted by Mr. Nimish Shah.

 

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

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

 

31.03.2012

(Provisional)

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

 

12.800

2] Share Application Money

 

 

0.000

3] Reserves & Surplus

 

 

0.000

4] (Accumulated Losses)

 

 

0.000

NETWORTH

 

 

12.800

LOAN FUNDS

 

 

 

1] Secured Loans

 

 

0.000

2] Unsecured Loans

 

 

12.600

TOTAL BORROWING

 

 

12.600

DEFERRED TAX LIABILITIES

 

 

0.000

 

 

 

 

TOTAL

 

 

25.400

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

 

15.786

Capital work-in-progress

 

 

0.000

 

 

 

 

INVESTMENT

 

 

0.000

DEFERREX TAX ASSETS

 

 

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

 

0.000

 

Sundry Debtors
 

 

0.000

 

Cash & Bank Balances
 

 

0.110

 

Other Current Assets
 

 

0.000

 

Loans & Advances
 

 

9.504

Total Current Assets
 

 

9.614

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditor
 

 

0.000

 

Other Current Liabilities
 

 

0.000

 

Provisions
 

 

0.000

Total Current Liabilities
 

 

0.000

Net Current Assets
 

 

9.614

 

 

 

 

MISCELLANEOUS EXPENSES

 

 

0.000

 

 

 

 

TOTAL

 

 

25.400

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

 

31.03.2012

(Provisional)

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

 

0.98

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

 

0.00

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Check list by info Agents

Available in Report

(Yes/ No)

 

 

Year of Establishment

Yes

Locality of the Firm

Yes

Constitution of the Firm

Yes

Premises details

Yes

Type of Business

Yes

Line of Business 

Yes

Promoter’s Background 

Yes

No. of Employees

Yes

Name of Person Contacted

Yes

Designation of Contact person

Yes

Turnover of Firm for last three years

No

Profitability for last three years

No

Reasons for variation <> 20%

-----

Estimation for coming financial year

No

Capital in the business

Yes

Details of sister concerns

Yes

Major Suppliers

No

Major Customers

No

Payments Terms

Yes

Export/ Imports Details (If applicable)

No

Market Information

-----

Litigations that the firm/ Promoters Involved in

-----

Banking details

Yes

Banking Facility Details

No

Conduct of the Banking Account

-----

Buyer visit details

-----

Financials, if provided

Yes

Incorporation details is applicable

No

Last Accounts filed at ROC

No

Major Shareholders, if available

No

 

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

 

COST OF PROJECTS

 

(RS. IN MILLIONS)

 

Particulars

AS ON

31.03.2012

PROPOSED

TOTAL

 

 

 

 

1. Land and Site Development

 

 

 

 

A] Factory Land and Development Expenses

2.000

0.000

2.000

B] Factory Building and Civil Construction

13.786

0.000

13.786

 

 

 

 

2. Plant and Machinery

 

 

 

 

A] Imported Machinery Equipment

7.914

38.948

46.863

B] Indigenous Machinery Equipment

1.590

4.267

5.857

C] Electrification and Other Equipment

0.000

1.502

1.502

 

 

 

 

3. Miscellaneous Fixed Assets

 

 

 

 

A] Furniture and Fixture

0.000

0.790

0.790

B] Computer

0.000

0.613

0.613

C] Office Equipment

0.000

0.000

0.000

 

 

 

 

Vehicles

0.000

0.000

0.000

 

 

 

 

PGVCL Charges

0.000

1.076

1.076

 

 

 

 

Preliminary and Pre-operative Expenses

0.000

0.000

0.000

 

 

 

 

Provision for Contingencies

0.000

0.298

0.298

 

 

 

 

Total Capital Cost of Project

25.291

47.496

72.786

 

 

 

 

Other Non Current Assets

0.000

0.000

0.000

 

 

 

 

Margin Money for Working Capital

0.109

6.591

6.700

 

 

 

 

TOTAL COST OF PROJECTS

 

25.400

54.086

79.486

 

 

MEANS OF FINANCE

 

(RS. IN MILLIONS)

 

Particulars

AS ON

31.03.2012

PROPOSED

TOTAL

 

 

 

 

Partner’s Capital

12.800

17.200

30.000

 

 

 

 

Unsecured Loan from Family Member

12.600

0.386

12.986

 

 

 

 

Term Borrowing from Bank

0.000

36.500

36.500

 

 

 

 

Means of Finance

 

25.400

54.086

79.486

 

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

 

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

 

OPERATING STATEMENT

 

(RS. IN MILLIONS)

 

Particulars

2012-13

2013-14

2014-15

2015-16

2016-17

2017-18

 

 

(Estimated)

(Projected)

 

Gross Income

 

 

 

 

 

 

Domestic Sales

125.731

228.062

267.178

305.421

343.665

381.908

Domestic Sales (Westage)

0.832

1.497

1.746

1.996

2.245

2.495

Export Sales

0.000

0.000

0.000

0.000

0.000

0.000

Other Income

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Total

126.563

229.559

268.925

307.417

345.910

384.403

 

 

 

 

 

 

 

Less: Excise Duty

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Net Sales

126.563

229.559

268.925

307.417

345.910

384.403

 

 

 

 

 

 

 

%age rise/ fall in net sales as compared to previous year

--

8.138

1.715

1.431

1.252

1.113

 

 

 

 

 

 

 

Cost of Sales

 

 

 

 

 

 

Raw Materials

 

 

 

 

 

 

 Imported

0.000

0.000

0.000

0.000

0.000

0.000

 Indigenous

95.148

171.267

199.811

228.356

256.900

285.444

 

 

 

 

 

 

 

Imported (Others)

0.000

0.000

0.000

0.000

0.000

0.000

Storage and Spares 

0.100

0.300

0.330

0.363

0.399

0.439

Direct Labour (Factory, wages and salaries)

2.176

3.427

3.598

3.778

3.967

4.166

Power and Fuel

3.432

7.516

8.769

10.021

11.274

12.527

Rent, Tax and Insurance

0.400

0.525

0.551

0.579

0.608

0.638

Repairs and Maintenance

0.175

0.263

0.276

0.290

0.304

0.320

Misc. Other  

0.800

1.050

1.403

1.158

1.216

1.276

 

 

 

 

 

 

 

Other Manufacturing Expenses

0.000

0.000

0.000

0.000

0.000

0.000

Depreciation

10.004

8.410

7.148

6.109

5.235

4.493

 

 

 

 

 

 

 

Sub – Total

112.234

192.758

221.586

250.653

279.903

309.303

 

 

 

 

 

 

 

Add: Opening Stocks in Process

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Total

112.234

192.758

221.586

250.653

279.903

309.303

 

 

 

 

 

 

 

Deduct: Closing Stocks in Process

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Cost of Production  

112.234

192.758

221.586

250.653

279.903

309.303

 

 

 

 

 

 

 

Add: Opening Stock of Finished Goods

0.000

2.309

2.641

3.035

3.434

3.834

 

 

 

 

 

 

 

Sub Total

112.234

195.067

224.227

253.689

383.337

313.137

 

 

 

 

 

 

 

Deduct: Closing Stock of Finished Goods

2.309

2.641

3.035

3.434

3.834

4.237

 

 

 

 

 

 

 

Sub Total

(Total Cost of Sales)

109.925

192.427

221.191

250.255

279.502

308.900

 

 

 

 

 

 

 

General, Administrative and selling Expenses

1.113

1.808

1.958

2.121

2.300

2.494

 

 

 

 

 

 

 

Sub- Total

111.038

194.235

223.149

252.376

281.802

311.395

 

 

 

 

 

 

 

Operating Profit before interests

15.524

35.324

45.775

55.041

64.108

73.008

 

 

 

 

 

 

 

Short Term Interests

0.967

2.030

2.610

2.900

3.625

4.785

Long Term Interests

3.925

4.455

3.396

2.338

1.279

0.265

 

 

 

 

 

 

 

Operating Profit after Interests

10.632

28.840

39.769

49.803

59.204

67.958

 

 

 

 

 

 

 

Add: Other Non-Operating Income

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Deduct: Other Non-Operating Expenses

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Net of other non-operating income/ expenses

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Partner’s Remuneration

0.900

0.900

0.900

0.900

0.900

0.900

Partners Interests

3.600

3.534

4.775

5.759

7.272

9.056

 

 

 

 

 

 

 

Profit before tax

6.132

24.406

34.094

43.144

51.032

58.002

 

 

 

 

 

 

 

Provision for taxes

2.084

8.295

11.589

14.665

17.346

19.715

 

 

 

 

 

 

 

Net Profit/ loss

4.048

16.110

22.506

28.480

33.686

38.287

 

 

 

 

 

 

 

Equity Dividend Paid

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Dividends Rate

0%

0%

0%

0%

0%

0%

 

 

 

 

 

 

 

Retained Profit/ Net Profit (% age)

40.48

161.10

225.06

284.80

336.86

382.87

Cash Accruals

140.52

245.21

296.54

345.88

389.21

427.80

 

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

 

BALANCE SHEET

 

(RS. IN MILLIONS)

 

Particulars

2012-13

2013-14

2014-15

2015-16

2016-17

2017-18

 

 

(Estimated)

(Projected)

 

LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

Short term borrowings banks (Including bills purchased, discounted and excess borrowing placed on repayment basis)

 

 

 

 

 

 

 - From Applicant Bank

10.000

14.000

18.000

20.000

25.000

33.000

 - From Other Banks

0.000

0.000

0.000

0.000

0.000

0.000

(Of which BP and BD)

 

 

 

 

 

 

 

 

 

 

 

 

 

Sub Total (A)

 

10.000

14.000

18.000

20.000

25.000

33.000

 

 

 

 

 

 

 

Short Term borrowing- others

0.000

0.000

0.000

0.000

0.000

0.000

Creditors

0.000

0.000

0.000

0.000

0.000

0.000

Current Liabilities

0.000

0.000

0.000

0.000

0.000

0.000

Security Deposits and Payable to Dealers

0.000

0.000

0.000

0.000

0.000

0.000

Provision for taxation

0.000

0.000

0.000

0.000

0.000

0.000

Deposits / Installments of Term Loans DPGs/ Debentures/ ECB/ ADR/ GDR (Due Within One Year)

7.300

7.300

7.300

7.300

5.475

0.000

Other Current Liabilities

2.000

2.500

3.000

3.500

4.000

4.500

Sundry Creditors Expenses

0.862

1.050

1.175

1.301

1.428

1.556

 

 

 

 

 

 

 

SUB TOTAL (B)

 

10.162

10.850

11.475

12.101

10.903

6.056

 

 

 

 

 

 

 

TOTAL CURRENT

LIABILITIES

 

20.162

24.850

29.475

32.101

35.903

39.056

 

 

 

 

 

 

 

TERM LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

Debentures

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Creditors for Capital Goods

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Term Loan

27.375

20.05

12.775

5.475

0.000

0.000

 

 

 

 

 

 

 

Deferred sales Tax liabilities

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Term Deposits

12.986

12.986

12.986

12.986

12.986

12.986

 

 

 

 

 

 

 

Other Term Liabilities

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

TOTAL TERM LIABILITIES

 

40.361

33.061

25.761

18.461

12.986

12.986

 

 

 

 

 

 

 

TOTAL OUTSIDE

LIABILITIES

 

60.523

57.912

55.236

50.562

48.889

52.042

 

 

 

 

 

 

 

NET WORTH

 

 

 

 

 

 

 

 

 

 

 

 

 

Partner’s Capital

29.447

39.791

47.991

60.604

75.463

90.287

 

 

 

 

 

 

 

Reserve and Surplus

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Share Premium

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Capital Redemption Reserve

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Surplus (+) Deficit (-) in Profit and Loss A/c

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

TOTAL NET WORTH

 

29.447

39.791

47.991

60.604

75.463

90.287

 

 

 

 

 

 

 

TOTAL LIABILITIES

 

89.970

97.703

103.227

111.166

124.352

142.329

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and bank balances

0.091

0.397

1.104

0.307

0.369

0.466

 

 

 

 

 

 

 

Investment

0.000

0.000

0.000

0.000

0.000

0.000

- Receivables

0.000

0.000

0.000

0.000

0.000

0.000

- Export Receivables

7.813

9.434

11.052

12.634

14.215

15.797

 

 

 

 

 

 

 

INVENTORY

 

 

 

 

 

 

 

 

 

 

 

 

 

Raw Materials

 

 

 

 

 

 

 - Imported

0.000

0.000

0.000

0.000

0.000

0.000

 - Indigenous

15.662

18.769

21.897

25.025

28.153

31.282

 

 

 

 

 

 

 

Stock in Process

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Finished Goods

2.309

2.641

3.035

3.434

3.834

4.237

 

 

 

 

 

 

 

Other Consumable Spares

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Advances to suppliers

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Advance Payment of Taxes

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Other Current Assets

1.062

2.050

2.275

2.511

2.759

3.020

 

 

 

 

 

 

 

TOTAL CURRENT ASSETS

 

26.937

33.291

39.363

43.910

49.331

54.802

 

 

 

 

 

 

 

FIXED ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Block

71.710

81.250

86.350

95.850

107.850

124.850

 

 

 

 

 

 

 

Depreciation to date

10.004

18.414

25.562

31.671

36.905

41.399

 

 

 

 

 

 

 

Net Block

61.706

62.836

60.788

64.179

70.945

83.451

 

 

 

 

 

 

 

OTHER NON CURRENT

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

Long term investments

(In Subsidiaries)

0.000

0.000

0.000

0.000

0.000

0.000

Other non Current assets

1.326

1.576

3.076

3.076

4.076

4.076

 

 

 

 

 

 

 

TOTAL OTHER NON

CURRENT ASSETS

1.326

1.576

3.076

3.076

4.076

4.076

 

 

 

 

 

 

 

Intangible Assets

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

TOTAL ASSETS

 

89.970

97.703

103.227

111.166

124.351

142.329

 

 

 

 

 

 

 

Tangible Net worth

29.447

39.791

47.991

60.604

75.463

90.287

 

 

 

 

 

 

 

Net Working Capital

6.776

8.440

9.888

11.810

13.428

15.746

 

 

 

 

 

 

 

Current Ratio

1.34

1.34

1.34

1.37

1.37

1.40

 

 

 

 

 

 

 

Total Outside Liabilities/ Tangible Net worth

2.06

1.46

1.15

0.83

0.65

0.58

 

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

 

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

 

(RS IN MILLIONS)

 

Particulars

2012-13

2013-14

2014-15

2015-16

2016-17

2017-18

 

 

(Estimated)

(Projected)

 

First method of lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Current Assets

26.937

33.291

39.363

43.910

49.331

54.802

 

 

 

 

 

 

 

Other Current Liabilities

(other than bank borrowing)

10.162

10.850

11.475

12.101

10.903

6.056

 

 

 

 

 

 

 

Working Capital Gap [WCG]

16.775

22.440

27.888

31.809

38.428

48.746

 

 

 

 

 

 

 

Min. stipulated Net Working Capital – 25 % of total current assets other than Export Receivables

4.194

5.610

6.972

7.952

9.607

12.187

 

 

 

 

 

 

 

Actual/ Projected net working capital

6.776

8.440

9.888

11.810

13.428

15.746

 

 

 

 

 

 

 

Item 3 minus item 4

12.581

16.830

20.916

23.857

28.821

36.560

 

 

 

 

 

 

 

Item 3 minus item 5

10.000

14.000

18.000

20.000

25.000

33.000

 

 

 

 

 

 

 

Maximum permissible bank finance

10.000

14.000

18.000

20.000

25.000

33.000

 

 

 

 

 

 

 

Excess borrowings, if any representing shortfall in NWC

0.000

0.000

0.000

0.000

0.000

0.000

 

 

Second method of

Mending

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Current Assets

26.937

33.291

39.363

43.910

49.331

54.802

 

 

 

 

 

 

 

Other Current Liabilities

(other than bank borrowing)

10.162

10.850

11.475

12.101

10.903

6.056

 

 

 

 

 

 

 

Working Capital Gap [WCG]

16.775

22.440

27.888

31.809

38.428

48.746

 

 

 

 

 

 

 

Min. stipulated Net Working Capital – 25 % of total current assets other than Export Receivables

4.194

8.323

9.841

10.978

12.333

13.700

 

 

 

 

 

 

 

Actual/ Projected net working capital

6.776

8.440

9.888

11.810

13.428

15.746

 

 

 

 

 

 

 

Item 3 minus item 4

12.581

16.830

20.916

23.857

28.821

36.560

 

 

 

 

 

 

 

Item 3 minus item 5

10.000

14.000

18.000

20.000

25.000

33.000

 

 

 

 

 

 

 

Maximum permissible bank finance

10.000

14.000

18.000

20.000

25.000

33.000

 

 

 

 

 

 

 

Excess borrowings, if any representing shortfall in NWC

0.000

0.000

0.000

0.000

0.000

0.000

 

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

 

COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES

 

(RS IN MILLIONS)

 

Particulars

2012-13

2013-14

2014-15

2015-16

2016-17

2017-18

 

 

(Estimated)

(Projected)

 

A CURRENT ASSETS

 

 

 

 

 

 

Raw Materials

 

 

 

 

 

 

[a] Imported

0.000

0.000

0.000

0.000

0.000

0.000

Month’s Consumption

0.000

0.000

0.000

0.000

0.000

0.000

[b] Indigenous

15.662

18.769

21.897

25.025

28.153

31.282

Month’s Consumption

1.98

1.32

1.32

1.32

1.32

1.32

 

 

 

 

 

 

 

Other consumable spares

 

 

 

 

 

 

[a] Imported

0.000

0.000

0.000

0.000

0.000

0.000

Month’s Consumption

0.000

0.000

0.000

0.000

0.000

0.000

[b] Indigenous

0.000

0.000

0.000

0.000

0.000

0.000

Month’s Consumption

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Stock in process

0.000

0.000

0.000

0.000

0.000

0.000

Month’s cost of Production

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Finished goods

2.309

2.641

3.035

3.434

3.834

4.237

Months cost of sales

0.25

0.16

0.16

0.16

0.16

0.16

 

 

 

 

 

 

 

Receivable other than export and deferred receivables [including bills purchased and discounted by bankers]

7.813

9.434

11.052

12.634

14.215

15.797

(Month’s Domestic Sales)

0.74

0.49

0.49

0.49

0.49

0.50

 

 

 

 

 

 

 

Export receivables [including bills purchased and discounted by bankers months export sales]

0.000

0.000

0.000

0.000

0.000

0.000

(Month’s Exports Sales)

--

--

--

--

--

--

 

 

 

 

 

 

 

Advances to suppliers of raw materials and stores/ spares consumable

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Other current Assets including cash and bank balances and deferred receivable due within one year 

 

 

 

 

 

 

A] Fixed Deposit for L/C and B/G Margin

0.000

0.000

0.000

0.000

0.000

0.000

B] Cash and Bank Balance

0.091

0.397

1.104

0.307

0.369

0.466

C] Other Current Assets

1.062

2.050

2.275

2.511

2.759

3.020

 

 

 

 

 

 

 

TOTAL CURRENT

ASSETS

26.937

33.291

39.363

43.910

49.331

54.802

 

 

 

 

 

 

 

 

B CURRENT LIABILITIES

 

 

 

 

 

 

 

[Other than bank borrowing for working capital]

 

 

 

 

 

 

 

 

 

 

 

 

 

Creditors for purchases of raw materials and stores and consumable spares

0.000

0.000

0.000

0.000

0.000

0.000

(Month’s Purchases)

--

--

--

--

--

--

 

 

 

 

 

 

 

Creditors for expenses

0.862

1.050

1.175

1.301

1.428

1.556

 

 

 

 

 

 

 

Advances from customers

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Statutory Liabilities

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

Other Current Liabilities

2.000

2.500

3.000

3.500

4.000

4.500

Installments of TL

7.300

7.300

7.300

7.300

5.475

0.000

 

 

 

 

 

 

 

TOTAL

 

10.162

10.850

11.475

12.101

10.903

6.056

 

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

 

FUND FLOW STATEMENT

 

(RS. IN MILLIONS)

 

Particulars

2012-13

2013-14

2014-15

2015-16

2016-17

2017-18

 

 

(Estimated)

(Projected)

 

SOURCES

 

 

 

 

 

 

Net profit (after tax)

4.048

16.110

22.506

28.48/0

33.686

38.287

Depreciation

10.004

8.410

7.148

6.109

5.235

4.493

Increase in Capital

16.647

10.344

8.200

12.613

14.859

14.824

Increase in Unsecured Loan

0.000

0.000

0.000

0.000

0.000

0.000

Increase in General reserve

0.000

0.000

0.000

0.000

0.000

0.000

Increase in Depreciation reserve

0.000

0.000

0.000

0.000

0.000

0.000

Increase in term liabilities (incl. public deposits)

27.761

0.000

0.000

0.000

0.000

0.000

Decrease in

 

 

 

 

 

 

(I) Fixed assets

0.000

0.000

0.000

0.000

0.000

0.000

(ii) Other non- current assets

8.178

0.000

0.000

0.000

0.000

0.000

Others

0.000

0.000

0.000

0.000

0.000

0.000

Capital Subsidy

0.000

0.000

0.000

0.000

0.000

0.000

Increase in Share Application Money

0.000

0.000

0.000

0.000

0.000

0.000

Increase in Share Premium

0.000

0.000

0.000

0.000

0.000

0.000

 

 

 

 

 

 

 

TOTAL

 

62.590

18.754

15.348

18.722

20.094

19.317

 

 

USES

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

--

--

--

--

--

--

Decrease in term liabilities (including public deposits)

0.000

7.300

7.300

7.300

5.475

0.000

Decrease in Capital

0.000

0.000

0.000

0.000

0.000

0.000

Increase in :

 

 

 

 

 

 

(I) Fixed assets

55.924

9.540

5.100

9.500

12.000

17.000

(ii) Others non-current assets

0.000

0.250

1.500

0.000

1.000

0.000

Dividend payments

0.000

0.000

0.000

0.000

0.000

0.000

Others

0.000

0.000

0.000

0.000

0.000

0.000

Decrease in General reserve

0.000

0.000

0.000

0.000

0.000

0.000

Decrease in Convertible Debenture 0%

0.000

0.000

0.000

0.000

0.000

0.000

Decrease in Unsecured Loan

0.000

0.000

0.000

0.000

0.000

0.000

Decrease in Share Application Money

0.000

0.000

0.000

0.000

0.000

0.000

TOTAL

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long Term surplus (+)/ Deficit(-)(1-2)

6.666

1.665

1.448

1.922

1.619

2.318

Increase /decrease in current assets

26.828

6.354

6.072

4.547

5.421

5.471

Increase /decrease in current liabilities other than bank borrowings

10.162

0.688

0.625

0.626

(1.198)

(4.847)

Increase/ decrease in working capital gap

16.666

5.665

5.448

3.921

6.619

10.318

Net surplus(+)/ deficit (-)

(10.000)

(4.000)

(4.000)

(2.000)

(5.000)

(8.000)

Increase/decrease in bank borrowings

10.000

4.000

4.000

2.000

5.000

8.000

 

 

 

 

 

 

 

INCREASE /DECREASE IN NET SALES

(70.029)

102.996

39.366

38.493

38.493

38.493

 

 

 

 

 

 

 

BREAK-UP OF(4)

 

 

 

 

 

 

 

(i) Increase/Decrease in Raw Material

15.662

3.107

3.128

3.128

3.128

3.128

(ii)Increase/Decrease in Stock-in-Process

0.000

0.000

0.000

0.000

0.000

0.000

(iii)Increase/decrease in Finished Goods

2.309

0.331

0.395

0.398

0.401

0.403

(iv)Increase/Decrease in Receivable

 

 

 

 

 

 

-Domestic

7.813

1.621

1.618

1.582

1.582

1.582

-Export

0.000

0.000

0.000

0.000

0.000

0.000

(v)Increase/Decrease in Stores &Spares

0.000

0.000

0.000

0.000

0.000

0.000

(vi)Increase/Decrease in other Currents Assets

1.044

1.294

0.932

(0.561)

0.310

0.358

 

 

 

 

 

 

 

Total

 

26.828

6.354

6.072

4.547

5.421

5.471

 

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

 

KEY FINANCIAL PARAMETERS

 

Particular

 

2012-13

2013-14

2014-15

2015-16

2016-17

2017-18

 

 

 

 

 

 

 

 

Sales(Net)

126.563

229.559

268.925

307.417

345.910

384.403

 

 

 

 

 

 

 

Interest

4.892

6.485

6.006

5.238

4.904

5.050

 

 

 

 

 

 

 

Depreciation

10.004

8.410

7.148

6.109

5.235

4.493

 

 

 

 

 

 

 

Profit Before Tax

6.132

24.406

34.094

43.144

51.032

58.002

 

 

 

 

 

 

 

Tax

2.084

8.295

11.589

14.665

17.346

19.715

 

 

 

 

 

 

 

Dividend/Withdrawals

0.00

0.00

0.00

0.00

0.00

0.00

 

 

 

 

 

 

 

Net Profit

4.048

16.110

22.506

28.480

33.686

38.287

 

 

 

 

 

 

 

Net Profit (%)

3.20%

7.02%

8.37%

9.26%

9.74%

9.96%

 

 

 

 

 

 

 

PBIDT%

16.61%

17.12%

17.57%

17.73%

17.68%

17.57%

 

 

 

 

 

 

 

Debt/Equity Ratio

1.27

0.86

0.64

0.42

0.33

0.37

 

 

 

 

 

 

 

Tol/TNW

1.27

0.86

0.64

0.42

0.33

0.37

 

 

 

 

 

 

 

DSCR

3.13

2.47

3.09

3.83

4.69

7.50

 

 

 

 

 

 

 

Current Ratio

1.34

1.34

1.34

1.37

1.37

1.40

 

 

 

 

 

 

 

Debtors/Creditors

--

--

--

--

--

--

 

 

 

 

 

 

 

Interest Coverage

4.30

6.06

7.87

10.40

12.47

13.38

 

 

 

 

 

 

 

Asset Coverage

2.25

3.13

5

12

N.A

N.A

 

 

 

 

 

 

 

Return on Net Worth (%)

13.75%

40.49%

46.90%

46.99%

44.64%

42.41%

 

 

 

 

 

 

 

Return on Cap. Employed (%)

16.50%

41.82%

50.91%

56.21%

55.68%

51.14%

 

 

 

 

 

 

 

Inventory & receivable Holding - Ratio ( In days)

74

49

49

49

49

49

 

 

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

 

TO WHOMSOEVER IT MAY CONCERN

 

(MR. HITESH DHIRAJLAL MASRANI)

 

(RS. IN MILLIONS)

 

PARTICULARS OF ASSETS / LIABILITIES

 

12.03.2012

 

 

A. ASSETS

 

1. Immovable Properties House Land and Building

 

Residential Property

0.000

Commercial Property

1] NA Plot No.16 and 17, Survey No. 274/1/P, Bhagwati Park, Wadhwan, Village Wadhwan, District Surendranagar Adm.330 sq. mtr Rs.2.000 Millions

2] GIDC Factory Land Plot No.139/3 and 139/4, D.C. Chambers, B/h. Old Bus Stop Village Limbdi, District Surendranagar adm 1408 sq. mtr and Built up are 920 sq. mtr. Rs.6.800 Million

3] City Survey No.1, Survey No.2429 and 2430, A/2, Balkrishna Market, A. D. Jani Road, Village Limbdi, District Surendranagar adm 15.56 sq. mtr. Rs.1.000 Million

9.800

Agricultural Land

0.000

 

 

2. Movable Properties

 

Maruti Swift – Vide Regn. No. GJ 13-CC-4441

0.750

Ford Figo – Vide Regn. No GJ 13-CC-1444

0.600

Chevrolet Yuva – Vide Regn. NoGJ-13-N-2236

0.400

Gold -333 Gram, Silver -9 KG

1.500

 

 

3. Investment in Business Viz, Polo Plus Container Rs.7.200 Millions 

In D.C. sales corporation Rs.3.495 Millions

10.694

 

 

TOTAL OF ASSETS (A)

 

23.744

 

 

B. LIABILITIES

 

A] The Bank – Working Capital from Bank of Baroda of Rs.2.500 Millions for D C Sales Corporation Car loan from Bank of Baroda O/s Rs.1.066 Millions

3.566

B] Friends and Relatives

0.000

C] Other Liabilities

0.000

 

 

TOTAL OF LIABILITIES (B)

3.566

 

 

 

TOTAL ASSETS - TOTAL LIABILITIES = NET WORTH (A-B)

 

20.178

 

 

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

 

TO WHOMSOEVER IT MAY CONCERN

 

(MR. HIRENSINH HITENDRAINH RANA)

 

(RS. IN MILLIONS)

 

PARTICULARS OF ASSETS / LIABILITIES

 

12.03.2012

 

 

A. ASSETS

 

1. Immovable Properties House Land and Building

 

Residential Property

Survey No.332/1, AT Bhalgamda, Tal. Lambdi, district surendranagar adm. 380 sq. yd. and Built up area 200 sq. mtr. Rs.2.500 Millions

2.500

Commercial Property

0.000

Agricultural Land

City Survey No.853 and 820, AT Bhalgamda, Tal Lambdi, District Surendranar adm 1.22 and 3.01 Factory Rs.9.000 Millions

9.000

 

 

2. Movable Properties

 

Gold -465 Gram, Silver – 19 KG 

2.400

 

 

3. Investment in Business Viz, Polo Plus Container Rs.1.500 Millions 

In Jay Ganesh Plasto Container Rs.1.500 Millions

3.000

 

 

TOTAL OF ASSETS (A)

 

16.900

 

 

B. LIABILITIES

 

A] The Bank

0.000

B] Friends and Relatives

0.000

C] Other Liabilities

0.000

 

 

TOTAL OF LIABILITIES (B)

0.000

 

 

 

TOTAL ASSETS - TOTAL LIABILITIES = NET WORTH (A-B)

 

16.900

 

 

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

 

TO WHOMSOEVER IT MAY CONCERN

 

(MR. KIHOREBHAI KARSANDAS DAVDA)

 

(RS. IN MILLIONS)

 

PARTICULARS OF ASSETS / LIABILITIES

 

12.03.2012

 

 

A. ASSETS

 

1. Immovable Properties House Land and Building

 

Residential Property

Flat 5/4, New Jalcon Apartment, Near Sarita School, Vejalpur, Ahmedabad adm 140 sq. yd. Rs.5.000 Millions

5.000

Commercial Property

Survey no.728, Plot No.28, R K Co-operative Ware Housing Society Limited, Aslalr, Ahmedabad adm 92.16 sq. mtr and Built up Area 92.16 sq. mtr. Rs.1.500 Millions

1.500

Agricultural Land

0.000

 

 

2. Movable Properties

 

Gold -400 Gram, Silver -5.5 KG

1.500

Honda active

0.050

LIC Vide No.832070439 Dt of Issue 01.04.94 um assured Rs.0.500 Million, LIC vide No.832137743 Dt. of Issue 24.10.01 sum assured R.0.200 Million, LIC vide no.832137786 Dt. of issue sum assured 09.11.2001 Rs.0.100 Million, LIC vide No.834730505 Dt. of issue 02.12.2005 sum assured Rs.0.500 Million, LIC vide No.832136988 Dt. of issue 15.01.2002 sum assured Rs.0.500 Million, LIC vide no.8336278281 Dt. of issue 28.12.2008 sum assured R.0.172 Million under death benefit plan and Rs.0.250 Million under accident benefit Basic Plant and Rs.0.065 Million under basic plan and Rs.0.065 Million under accident Benefit Plan.

1.650

 

 

 

 

3. Investment in Business Viz, Polo Plus Container Rs.1.100 Millions 

In Chirag Plastic Rs.2.200 Millions

3.300

 

 

TOTAL OF ASSETS (A)

 

13.000

 

 

B. LIABILITIES

 

A] The Bank

0.000

B] Friends and Relatives

0.000

C] Other Liabilities

0.000

 

 

TOTAL OF LIABILITIES (B)

0.000

 

 

 

TOTAL ASSETS - TOTAL LIABILITIES = NET WORTH (A-B)

 

13.000

 

 

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

 

TO WHOMSOEVER IT MAY CONCERN

 

(MRS. PRAFULABEN JAGDISH SEDANI)

 

(RS. IN MILLIONS)

 

PARTICULARS OF ASSETS / LIABILITIES

 

12.03.2012

 

 

A. ASSETS

 

1. Immovable Properties House Land and Building

 

Residential Property

“Parikunj” B/18, Mahavir Society, Ashopalav Marg, District Jamnagar adm.400 sq. Mtr and Built up Area 300 sq. mtr. Rs.10.000 Millions 

10.000

Commercial Property

0.000

Agricultural Land

0.000

 

 

2. Movable Properties

 

Gold -500 Gram, Silver – 17 KG 

2.400

Hyundai I-20 Vide No. GJ-10-AP-8131

0.650

 

 

3. Investment in Business Viz, Polo Plus Container Rs.2.000 Millions 

2.000

 

 

TOTAL OF ASSETS (A)

 

15.050

 

 

B. LIABILITIES

 

A] The Bank

0.000

B] Friends and Relatives

0.000

C] Other Liabilities

0.000

 

 

TOTAL OF LIABILITIES (B)

0.000

 

 

 

TOTAL ASSETS - TOTAL LIABILITIES = NET WORTH (A-B)

 

15.050

 

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

 

 

TO WHOMSOEVER IT MAY CONCERN

 

(MRS. NEHABEN HITESH MASRANI)

 

(RS. IN MILLIONS)

 

PARTICULARS OF ASSETS / LIABILITIES

 

12.03.2012

 

 

A. ASSETS

 

1. Immovable Properties House Land and Building

 

Residential Property

40/B, Yogeshwar Park Society, Near Tapovan Society, Surendranagar adm. 85.18 sq. mtr. and Built Up Area 180 sq. mtr. Rs.7.000 Millions (Encumbered with ICICI Bank)

7.000

Commercial Property 

0.000

Agricultural Land

City Survey No.326, At. Parnala, Vill: Limbdi, District Surendranagr. Adm.28328 sq. mtr. Rs.7.000 Millions 

7.000

 

 

2. Movable Properties

 

Gold -500 Gram, Silver -14 KG

2.200

 

 

3. Investment in Business Viz, Polo Plus Container Rs.5.000 Millions 

5.000

 

 

TOTAL OF ASSETS (A)

 

21.200

 

 

B. LIABILITIES

 

A] The Bank – Housing Loan From ICICI Bank O/S Rs.0.697 Millions

0.697

B] Friends and Relatives

0.000

C] Other Liabilities

0.000

 

 

TOTAL OF LIABILITIES (B)

 

0.697

 

 

TOTAL ASSETS - TOTAL LIABILITIES = NET WORTH (A-B)

 

20.503

 

 

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

 

TO WHOMSOEVER IT MAY CONCERN

 

(MRS. INDUMATI MASRANI)

 

(RS. IN MILLIONS)

 

PARTICULARS OF ASSETS / LIABILITIES

 

12.03.2012

 

 

A. ASSETS

 

1. Immovable Properties House Land and Building

 

Residential Property

Survey No.3102, Building No.9 “Krushakunj”, 9 Yaeshwar Society, Opposite Collage, Limbdi, Adm. 266.36 sq. mtr. and Built Up Area 350 sq. mtr.

5.000

Commercial Property 

Factory Land Plot No.139/10, GIDC, Limbdi, District Surendranagar, Adm.704 Sq. Mtr and Built Up Area 420 Sq. Mtr.

4.000

Agricultural Land

0.000

 

 

2. Movable Properties

 

Gold -400 Gram, Silver -16 KG

2.000

 

 

3. Investment in Business Viz, Padmavati Plastic Industries Rs.2.400 Millions

2.400

 

 

TOTAL OF ASSETS (A)

 

13.400

 

 

B. LIABILITIES

 

A] The Bank

0.000

B] Friends and Relatives

0.000

C] Other Liabilities

0.000

 

 

TOTAL OF LIABILITIES (B)

 

0.000

 

 

TOTAL ASSETS - TOTAL LIABILITIES = NET WORTH (A-B)

 

13.400

 

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

 

 

TO WHOMSOEVER IT MAY CONCERN

 

(MRS. RASIKBA RANA)

 

(RS. IN MILLIONS)

 

PARTICULARS OF ASSETS / LIABILITIES

 

12.03.2012

 

 

A. ASSETS

 

1. Immovable Properties House Land and Building

 

Residential Property

S. No. 47/2, Plot No. 2, At Shivashish Society Society, Near Doctor Mair Hospital, Tal.: Limbasi, District : Surendranagar Adm. 307 sq. mtr. and Built Up Area 240 sq. mtr.

4.000

Commercial Property 

0.000

Agricultural Land

0.000

 

 

2. Movable Properties

 

Gold -333 Gram, Silver -16 KG

1.800

 

 

3. Investment in Business

0.000

 

 

TOTAL OF ASSETS (A)

 

5.800

 

 

B. LIABILITIES

 

A] The Bank

0.000

B] Friends and Relatives

0.000

C] Other Liabilities

0.000

 

 

TOTAL OF LIABILITIES (B)

 

0.000

 

 

TOTAL ASSETS - TOTAL LIABILITIES = NET WORTH (A-B)

 

5.800

 

 

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

 

VALUATION OF IMMOVABLE PROPERTY

 

PART 1 – QUESTIONNAIRE

 

GENERAL

 

Purpose for which valuation is made

To ascertain market value of property for bank loan from Bank of India, Parabazar, Rajkot

 

 

Date as on which valuation is made

As on 23/05/2012

 

 

Name of the owner/owners.

Mr. Kishorkumar Karshandas Davda

 

 

If the property is under joint ownership co-ownership, share of such owner Are the shares undivided?

Single ownership of property (N.A.)

 

 

 

Brief description of the property

Property is a Residential flat situated on 2nd floor of Four storied building.

 

 

Location, Street, Ward No

Flat No.A-2/S-4, 2nd Floor, New Jalcon Flat, Near Binori Flat, Vejalpur, Ahmedabad

 

 

Survey / Plot No. of Land

Sur. No.84/3, P, TP No,3, FP No 134, of Vejalpur, Ahmedabad

 

 

Is the property situated in Residential/ Commercial/ Mixed area/Industrial area

Residential Area

 

 

Classification of locality - high class  /middle class/ poor class

High -Middle class locality nearby

 

 

Proximity to civic amenities like schools hospitals, offices, market, cinemas; etc

Available within Nearby distance

 

 

Means and proximity to surface communication by which the locality is served

Served by ATM bus services, Scooters, Cars auto rickhaws etc.

 

 

LAND

 

Area of land supported by documentary proof

Shape dimensions and physical features.

NA as super built up area rate is considered in valuation

 

 

Roads street or lanes on which the land is abutting

On T. P. Road on One side.

 

 

Is it freehold or leasehold land?

Freehold Land

 

 

Is there any restrictive covenant in regard to use of land?

As per building bye laws of AUDA

 

 

Does the land fall in an area included in any plan of government or any statutory Body? if so give particulars

Residential use.

 

 

Has any contribution been made towards development or is any demand for such contribution still outstanding?

Demand not outstanding

 

 

IMPROVEMENTS

 

Is the building owner - occupied/ tenanted/ both?)

Owner Occupied

 

 

RENTS

 

Give details of water and electricity charges.     If any, to be borne by the owner.

YES

 

 

SALES

 

Give instances of sales of immovable property in the locality on a separate sheet, indicating the name and address of the property Registration No. Safe price and Area of land sold

Discussed in part of valuation Jantry rate Rs.13250/- sq mt

 

 

Land rate adopted in this valuation or   
built up area rate.

Super Built up area rate adopted is Rs.35,000/- per sq. yd.

 

 

If safe instances are not available or not relied upon the basis of arriving at the land rate

Prevailing market rate in vicinity and experience

 

 

COST OF CONSTRUCTION

 

Year of Commencement of construction and year of completion

Built in 1996-97

 

 

What was the method of construction By contract by employing labour direct or both?

By Organizers

 

 

For item work done on contact produce copies of agreements

Not available

 

TECHNICAL DETAILS

 

No of Floors and height of each floor

A] Basement

B] Ground Floor

C] First Floor

D] Second Floor

E] Third Floor

 

 

 

 

 

9’-0”

 

 

Plinth area floor wise {As per IS 3861- 1966}

A] Basement

B] Ground Floor

C] First Floor

D] Second Floor

E] Third Floor

 

 

 

 

80.00 sq. yd SBA as per society letter

 

 

Year of Construction

Built in 1996-97

 

 

Estimated future life

54 years.

 

 

Type of construction load bearing walls / RCC Frame steel frame

RCC Framed Structure

 

 

Type of Foundations

RCC Footing

 

 

Walls

A] Basement or Plinth

B] Ground Floor

C] Superstructure Floor

D] Third Floor

 

 

0’-9”, 0’-6” Thick brick

Masonry wall n.c.m.

 

 

Partitions

A] Ground Floor

B] First Floor

C] Second Floor

D] Third Floor

 

 

0’-6” thick brick masonry walls

In cement mortar 

 

 

Flooring (Floor Wise)

A] Basement

B] Ground Floor

C] First Floor

D] Second Floor

E] Third Floor

 

 

Mosaic Flooring

 

 

Door and Windows

A] Ground Floor

B] First Floor

C] Third Floor

 

 

Wooden door with wooden frame at main door fully glazed windows with wooden frame. 

 

 

Finishing (Floor Wise)

A] Basement

B] Ground Floor

C] First Floor

D] Second Floor

E] Third Floor

 

 

 

Smooth Cement Plaster to interior walls and faced double coat plaster 

 

 

Roofing and Terracing

RCC Slab

 

 

Special Architectural or decorative features if any

Good Outlook.

 

 

1] Internal wiring surface or conduit

2] Class of fitting superior/ ordinary' poor

Concealed electrical wiring with sufficient

Light and Plug Points

 

 

Sanitary Installations

 

No of water Closets

1 No.

No of Lavatory Basins

Bathroom 1 No.

No of Unnals

--

No of Sinks

1 No.

No of bath tubs

Wash Basin 1 No.

No of bidets

--

No of Geysers

--

 

 

Class of fittings Superior Coloured/ Superior White/ Ordinary

Coloured

 

 

 

Compound wall

- Height and length

- Type of construction

 

9' thick brick compound wall with

 

 

Underground sump, capacity and type of construction

Common underground water tank

 

 

Overhead Tank

- Where located

- Capacity

- Type of Construction

 

Overhead Water Storage tank on top slab

 

 

Pump No and their horse power

Of required capacity

 

 

Road and paving within the compound

Paving in compound

 

 

Sewage disposal whether connected to Public    tank provided and capacity    

Connected to public sewer fine-Sewers If septic

 

 

PART - II  (VALUATION)

 

The property under consideration is a Residential flat situated on 2nd floor of four storied building with Part Hollow plinth for parking. It is R.C.C. frame structure with R.C.C slab, beams and brick masonry walls etc Flat is situated at Flat No.203, 2nd Floor, New Jalcon Flat, Near Binori Flat, Vejalpur, Ahrnedabad. It is bearing Sur 84/3P, FP No. 134, TP No.3, of Vejalpur, Ahrnedabad  It is owned by Mr. Kishorkumar Karshandas Davda

 

The property on 23-05-2012 for the purpose of valuation. The observations and scrutinizes made are as under. During my visit owner Kishorbhai remained present and he furnished relevant data regarding the properly

 

The property is evaluated to ascertain fair market value of property for Bank Loan from Bank of India. Rajkot.

 

The property is situated at well developed Residential as well as commercial area Near Vastrapur Railway Station, Vejalpur, Ahrnedabad. All types of Residential as well as commercial complexes, Restaurant, Hospitals, Low rise and high rise building, Shopping mall, etc are developed in this area.

 

Property is consisting of a drawing room, dining, two bed room, common bath and toilet and balcony, a kitchen with store and wash area. It is provided with mosaic flooring in drawing, bed rooms, kitchen, wooden main door, wooden doors with wooden frame and fully glazed wooden windows arid wall to wail dedooing of glazed tile in toilet blocks and concealed electric wiring. It is finished with smooth cement plaster to interior walls with white wash and double coat sand face plaster cement plaster to exterior wall with snowcem paint. It is also provided with common amenities like underground and overhead water tank, Hollow plinth parking, compound wall and m. s. gate, marginal for park/rig, security services , common water and drainage connection, etc.

 

Remark - As per inquiry the rate of flat is ranging from Rs.32,000/- to Rs.37,000/- per sq. yd. depending upon the situation, condition, development of surrounding area, specification of materials used, provision of common amenities, etc. flat is well Maintained and fully furnished

 

It is surrounded by following boundaries:

 

North- Flat No. T-1

South – Internal Road

East – Margin Land

West: Flat No.S-3

 

Property as per Super Built up area rate method considering the cost of proportionate land area and depreciated construction cost

 

Considering the type of construction, planning and design, age and future life of property Depreciation, maintenance and renovation of property, specification and materials used there in and amenities available and property use as residential, estimate the valuation of property as under on valuation date.

 

Sr. No.

Description

SBA

In Sq. Yd.

Rate per

Sq. Yd.

Total Value

(Rs. In Millions)

 

 

 

 

 

1

Flat No.203, 2nd Floor, New Jalcon Flat Near Binori Flat Vejalpur, Ahmedabad

80.00

R.35,000/-

2.800

2

Fix Furniture

 

Lump Sum

0.200

 

 

 

 

 

 

Total

 

3.000

 

Realizable Value of Property = Rs.2.700 Millions about 10% less than Market Value

 

Distress ale value of property = Rs.2.250 Millions about 25% less than Market Value

 

Jantri Value of property = Rs.0.886 Millions

 

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

 

VALUATION REPORT

 

Purpose for which valuation is made

For submission to Bank of India Rajkot Main Branch - Rajkot.

 

 

Date as on which valuation is made.

22/5/2012

 

 

Name of Owner

Polo plus Containers - a partnership firm

 

 

If the prop, is under joint Ownership/Co-ownership share of each such owners are the shares undivided.

As per partnership deed

 

 

 

Brief description of property,

It is an industrial property under different construction stage and it is an Industrial N.A. Plot of land for Plastic water storage tank production.

 

 

Location, Street, Ward No.

R.S. No.441/p-2, Off Limbdi Wadhwan Road at Village : BHALGAMDA

(Tal: Limbdi, Dist: Surendranagar)

 

 

Survey/Plot No?

R.S.No.441/p-2

 

 

Is the property situated in Residential / Commercial / Industrial area

Un developed surrounding

 

 

 

Classification of locality High class/ Middle class/Poor class.

Un developed surrounding

 

 

Proximity to civic amenities like Schools, Hospitals, S.T. Bus stand, Cinemas etc.

Available at Limbdi

 

 

Means and proximity to surface communication by     which the locality is served

By all types of vehicles

 

 

 

LAND

 

Area of land supported by documen­tary proof, shape, dimensions & physical features.

10,000.00 s.m. (11960.00 Sq. yds) as per regi. Deed No.306 dt. 18.02.2012

 

 

Boundaries of Plot

North : 9.00 mts wide cart track road

South : Lagu R. Survey No. 441/P

East : Moje Ankewaliya Sim

West : Lagu R. Survey No. 441/P

 

 

Is it freehold or leasehold land?

Freehold N.A. Industrial Plot for Plastic  Water Storage tank production 

 

 

Is there any restrictive condition in regard to use of land? If so attach a copy of the convenient.

Freehold N.A industrial plot for Plastic water storage tank production. Not applicable

 

 

Has any contribution been made towards development or is any demand for such contribution still outstanding?

Un Developed surrounding

 

 

Furnish Technical details of the building on a separate sheet.

Furnished

(a) Is the building owner occupied/ tenanted/ both?

Entirely by the Owner for construction of buildings

(b) If the partly owner occupied specified portion and extent of area under owner-occupation.

Entirely with the owner

 

 

RENTS

 

 

 

Give details of Water and Elect. Charge? Is any to be borne by the owner

Entirely by owner

 

 

If pump is installed, who has to bear the cost of maintenance and operations?

By Owner

 

 

Who has to bear the cost of electricity charge for lighting of common pace like entrance hall, stairs, passages, compound etc.

By Owner

 

 

What is the amount of property Tax? Who has bear it? Give detail with documentary Proof

Not Applicable at Present stage

 

 

COST OF CONSTRUCTION

 

Year of commencement of const and year of completion.

Building are under different construction stages

 

 

TECHNICAL DETAILS

 

No. of Floor and Height of each

Ground floor. Ht is variable of roof

 

 

Plinth Area Floor Wise (As per IS 3861-1966)

Refer "Valuation calculations"

 

 

Year of construction

2012

 

 

Estimated future life

Residual Life about 50 years, on completion

 

 

Type of construction

Partly Load bearing walls and partly R.C.C. column

 

 

Type of Foundation

R.C.C. / Stone masonary

 

 

Walls

1.       Basement and Plinth.

2.       Ground floor

3.       Super structure above G.F.

 

Stone Masonary

Bella Masonary

----

 

 

Partitions

Bella Masonary

 

 

Doors-windows (Floor-wise)

Yet to Provide

 

 

Flooring (Floor-wise)

C.C flooring in main shed portion

 

 

Finishing (Floor-wise)

Glazed tiles dado inside the shed and pointing outside

 

 

Roofing and Terracing.

Sheet roof with M. S. trusses

 

 

Special Architectural or decorative features, if any?

--------

(a) Internal wiring

(b) Class of fitting.

Yet to be provide

Yet to be provide

 

 

Sanitary Installations.

Yet to be provide

 

 

Class of fittings, Superior Colored / superior white/ Ordinary.

Yet to be provide

 

 

Compound walls.

(i) Height and Length

(ii) Type of construction

 

About 1.80 mts on certain part of periphery

Bella Masonary

 

 

Nos. of lifts and capacity

-----

 

 

Underground Sump, Capacity and Type of construction

Bella Masonary

 

 

Overhead Tank

-----

 

 

Pump Nos. and their Horse power

Pump over he bore

 

 

Road paving within the Compound app. Area and type of paving

Work is under progress

 

 

Sewage disposal system

----

 

 

PART - I - DETAILS OF PROPERTY

 

It is located nearer to Limbdi - Wadhwan Road At Village : Bhalgamada. The owner had purchased the N.A. industrial land for plastic water storage tank production. The owner has completed the major portion of main production shed. The other buildings like labour quarters, Comp. wall, internal roads, bore with pump room etc are under construction at different level.

 

VALUATION CALCULATIONS

 

A] LAND

 

It has been derived based on detailed oral inquiry for the prevailing land rate in the locality from the local persons dealing in land business, and taking into consideration, shape, size, orientation, location, topographical level, available nearby amenities etc,

 

The Govt. Jantri rate of land for industrial land in the locality is Rs.478/- S.M.

 

The Govt. Jantri rate does not reflect presently prevailing market rate, as the Govt. Jantri rate is for calculating and recovery of Stamp duty only. The land rate for such type of land can be considered as about Rs. 1,000/- S.M. (Rs.836/- Sq.yds) (a) Value of land considered

 

= 10,000.00 S.M. @ Rs. 1,000/- S.M       Rs.10.000 Millions

 

(B) VALUE OF BUILDINGS AT PRESENT STAGE :

 

The value of buildings is derived based on type and quality of materials used, type of workmanship and quality of finishes used. The value of such building is considered based on the progress of work carried out so far, at the prevailing market rate of materials, type of workmanship and labour cost etc. at present stage

 

·         Main shed with height of 10 mt at ridge (at present stage) = 564.25 S.M. @ Rs.7,000/- S.M Rs.3.950 Millions

·         Add for glazed tile dado on walls as L.S Rs.0.150 Million

·         Comp. wall at present stage as L.S   Rs.1.300 Millions

·         Labour quarters under construction at this stage as L.S Rs.0.600 Million

·         Bore with pump set and pipeline at this stage as L.S  Rs.0.200 Million

·         Internal roads with metalling, murrum filling, consolidating etc as L.S    Rs.0.500 Million

 

TOTAL = RS.6.700 MILLIONS

 

 

FINAL VALUE

 

Value of Land – Rs.10.000 Millions

Value of Building with land development works  - Rs.6.700 Millions

 

The present market value of the above industrial property at present stage and in its present condition, can therefore be considered as about Rs.16.700 Millions as fair, subject to title clear report of bank's panel advocate.

 

 

PARAMETERS AND OBSERVATIONS

 

A] Present Market Value

= Rs.16.700 Millions

 

B] Value as per Govt. Jantri rate of land + Building

= 10,000.00 S.M. @ Rs.478/-S.M. = Rs.47,80,00/- + Rs.67,00,000/- of Bldg at present stage Rs.11.480 Millions

 

NOTE: The Owner's Regi. Purchase Deed No.306 dt.18/2/2012 of Land is of Rs.2.000 Millions

 

C] Distressed Sale Value

= 75% of Rs.16.700 Millions = Rs.12.525 Millions

 

 

2. This is an industrial Property in the entire possession of the owner for construction of buildings.

 

3. The right property was identified and inspected in the presence of partner of the firm – Mr. Hirensinh Rana.

 

4. The right value of the property is derived at prevailing present market rate. 

 

 

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

 

VALUATION REPORT

 

Purpose for which valuation is made

For submission to Bank of India Rajkot Main Branch - Rajkot.

 

 

Date as on which valuation is made.

22/5/2012

 

 

Name of Owner

Padmavati Platics Industries Prop Mrs. Indumati Dhirajlal Thakkar

 

 

If the prop, is under joint Ownership/Co-ownership share of each such owners are the shares undivided.

Name of Proprietary Firm

 

 

 

Brief description of property,

It is an industrial property of Manufacturer of P.V.C. Water Storage Tank

 

 

Location, Street, Ward No.

Plot No.139/10, GIDC Industrial Estate – II, Near Makwana Textiles, Off National Highway at Limbdi. (District : Surendrangar)

 

 

Survey/Plot No?

R.S.No.386, Plot No.139/10.

 

 

Is the property situated in Residential / Commercial / Industrial area

Industrial Area

 

 

 

Classification of locality High class/ Middle class/Poor class.

Industrially Middle Class

 

 

Proximity to civic amenities like Schools, Hospitals, S.T. Bus stand, Cinemas etc.

Available at Limbdi at about 2 to 3 km. distance

 

 

Means and proximity to surface communication by     which the locality is served

By all types of vehicles

 

 

 

LAND

 

Area of land supported by documen­tary proof, shape, dimensions & physical features.

762.20 s.m. (911.59 Sq. yds) as per Lease Deed dt. 17.04.2000

 

 

Boundaries of Plot

North : Other’s property Plot No.139/9

South : 14 mts. Wide Road 

East : Others property Plot No.139/11

West : 14 mts. Wide Road

 

 

Is it freehold or leasehold land?

Leasehold

 

 

If Leasehold the name of leaser/ lessee

Lessor: GIDC, Lease of 99 year from 23.01.1998

 

 

Is there any restrictive condition in regard to use of land? If so attach a copy of the convenient.

For Industrial use.

 

 

Has any contribution been made towards development or is any demand for such contribution still outstanding?

Developed Industrial Estate

 

 

Furnish Technical details of the building on a separate sheet.

Furnished

(a) Is the building owner occupied/ tenanted/ both?

Entirely Owner

(b) If the partly owner occupied specified portion and extent of area under owner-occupation.

No

 

 

What is the F.S.I permissible and percentage actually utilized

FSI used is within permissible limits.

 

 

RENTS

 

 

 

Give details of Water and Elect. Charge? Is any to be borne by the owner

Entirely by owner

 

 

If pump is installed, who has to bear the cost of maintenance and operations?

By Owner

 

 

Who has to bear the cost of electricity charge for lighting of common pace like entrance hall, stairs, passages, compound etc.

By Owner

 

 

What is the amount of property Tax? Who has bear it? Give detail with documentary Proof

Not details furnished 

 

 

COST OF CONSTRUCTION

 

Year of commencement of const and year of completion.

Before about 16 years, as orally informed

 

 

TECHNICAL DETAILS

 

No. of Floor and Height of each

Ground floor. Ht is variable of roof

 

 

Plinth Area Floor Wise (As per IS 3861-1966)

Refer "Valuation calculations"

 

 

Year of construction

About 12 years old

 

 

Estimated future life

Residual Life about 38 years

 

 

Type of construction

Load bearing walls

 

 

Type of Foundation

P.C.C. / Stone masonary

 

 

Walls

4.       Basement and Plinth.

5.       Ground floor

6.       Super structure above G.F.

 

Stone Masonary

Bella Masonary

----

 

 

Partitions

Bella Masonary

 

 

Doors-windows (Floor-wise)

Rolling shutters, Wooden Door and windows.

 

 

Flooring (Floor-wise)

C.C flooring

 

 

Finishing (Floor-wise)

Cement plaster neroo finished

 

 

Roofing and Terracing.

A.C. sheet roof with M. S. trusse

 

 

Special Architectural or decorative features, if any?

--------

(a) Internal wiring

(b) Class of fitting.

Surface Wiring

Ordinary

 

 

Sanitary Installations.

As per Owner’s requirements

 

 

Class of fittings, Superior Colored / superior white/ Ordinary.

Ordinary

 

 

Compound walls.

(i) Height and Length

(ii) Type of construction

 

2.00 m on periphery 

Bella Masonary

 

 

Nos. of lifts and capacity

-----

 

 

Underground Sump, Capacity and Type of construction

Bella Masonary and Cement Plastered

 

 

Overhead Tank

-----

 

 

Pump Nos. and their Horse power

-----

 

 

Road paving within the Compound app. Area and type of paving

Leveled and Partly C.C. 

 

 

Sewage disposal system

Soak Pit

 

 

PART - I - DETAILS OF PROPERTY

 

It is located at well developed industrial locality of Limbdi. The Buildings are well built and maintained in normal and useable condition. The entire property is in possession of the owner for their industrial usage. The industry is in running condition at the time of site inspection. The built up area is considered following actual measurements t site, in view of certain variation in construction than approved plan.

 

 

VALUATION CALCULATIONS

 

A] LAND

 

It has been derived based on detailed oral inquiry for the prevailing land rate in the locality from the local persons dealing in land business, and taking into consideration, shape, size, orientation, location, topographical level, available nearby amenities etc,

 

The Govt. Jantri rate of land for industrial land in the locality is Rs.1600/- S.M.

 

The Govt. Jantri rate does not reflect presently prevailing market rate, as the Govt. Jantri rate is for calculating and recovery of Stamp duty only.

 

The land rate for such type of land can be considered as about Rs.2,900/- S.M. (Rs.2424.75/- Sq.yds)

 

(a) Value of land considered

 

= 762.20 S.M. @ Rs.2,900/- S.M = Rs.2.210 Millions

 

(B) BUILDING

 

The value of buildings is derived based on type and quality of materials used, type of workmanship and quality of finishes used. The value of such building is considered deducting depreciation for past age for structure, based on the built up area.

 

·         Main shed = 386.47 S.M. @ Rs.4,000/- S.M Rs.1.546 Millions

·         Side shed = 169.08 S.M. @ Rs.3,700/- S.M Rs.0.626 Million

·         Add for security room in front, com wall, bore with pumpset, water tank and open space (compound) developmental Works as LS = Rs.0.150 Million

 

Depreciation by straight line method: 0.9 x 12/50 x 100 = 21.60% Say 22%

Net value after depreciation 78% Rs.2.321 Millions = Rs.1.811 Millions

 

TOTAL = RS.1.811 MILLIONS

 

 

FINAL VALUE

 

Value of Land – Rs.2.210 Millions

Value of Building with land development works  - Rs.1.811 Millions

 

The present market value of the above industrial property at present stage and in its present condition can therefore be considered as about Rs.4.021 Millions as fair, subject to title clear report of bank's panel advocate.

 

 

PARAMETERS AND OBSERVATIONS

1.       Detail of value

 

A] Present Market Value

= Rs.4.021 Millions

 

B] Value as per Govt. Jantri rate of land + Building

= 762.20 S.M. @ Rs.1,600/-S.M. = Rs.1.220 Millions + Rs.1.811 Millions of Bldg at present stage Rs.3.031  Millions

 

C] Distressed Sale Value

= 75% of Rs.4.021 Millions = Rs.3.016 Millions

 

 

2. This is an industrial Property in the entire possession of the owner

 

3. The right property was identified and inspected in the presence of owner’s representative – Mr. Rana and Staff.

 

4. The right value of the property is derived at prevailing present market rate. 

 

 

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

 

VALUATION REPORT

 

Purpose for which valuation is made

For submission to Bank of India Rajkot Main Branch - Rajkot.

 

 

Date as on which valuation is made.

21/5/2012

 

 

Name of Owner

D.C. Sales Corporation Prop.: Mr. Hiteshkumar Dhirajlal Mashrani  

 

 

If the prop, is under joint Ownership/Co-ownership share of each such owners are the shares undivided.

Name of Proprietary Firm

 

 

 

Brief description of property,

It is an industrial property of Manufacturer of P.V.C. Water Storage Tank

 

 

Location, Street, Ward No.

Plot No.139/3, GIDC Industrial Estate – II, Opposite Makwana Textiles, Off National Highway at Limbdi. (District : Surendrangar)

 

 

Survey/Plot No?

R.S.No.386, Plot No.139/3.

 

 

Is the property situated in Residential / Commercial / Industrial area

Industrial Area

 

 

 

Classification of locality High class/ Middle class/Poor class.

Industrially Middle Class

 

 

Proximity to civic amenities like Schools, Hospitals, S.T. Bus stand, Cinemas etc.

Available at Limbdi at about 2 to 3 km. distance

 

 

Means and proximity to surface communication by     which the locality is served

By all types of vehicles

 

 

 

LAND

 

Area of land supported by documen­tary proof, shape, dimensions & physical features.

703.00 s.m. (840.78 Sq. yds) as per transfer order of GIDC dt. 10.02.2012

 

 

Boundaries of Plot

North : Other’s Property

South : Owner’s  Plot No.139/4 with Building 

East : Road 

West : Other’s Property

 

 

Is it freehold or leasehold land?

Leasehold

 

 

If Leasehold the name of leaser/ lessee

Lessor: GIDC, Lease of 99 year from 30.09.1991

 

 

Is there any restrictive condition in regard to use of land? If so attach a copy of the convenient.

For Industrial use.

 

 

Has any contribution been made towards development or is any demand for such contribution still outstanding?

Developed Industrial Estate

 

 

Furnish Technical details of the building on a separate sheet.

Furnished

(a) Is the building owner occupied/ tenanted/ both?

Entirely Owner

(b) If the partly owner occupied specified portion and extent of area under owner-occupation.

No

 

 

What is the F.S.I permissible and percentage actually utilized

FSI used is within permissible limits.

 

 

RENTS

 

 

 

Give details of Water and Elect. Charge? Is any to be borne by the owner

Entirely by owner

 

 

If pump is installed, who has to bear the cost of maintenance and operations?

By Owner

 

 

Who has to bear the cost of electricity charge for lighting of common pace like entrance hall, stairs, passages, compound etc.

By Owner

 

 

What is the amount of property Tax? Who has bear it? Give detail with documentary Proof

Not details furnished 

 

 

COST OF CONSTRUCTION

 

Year of commencement of const and year of completion.

Before about 14 years, as orally informed

 

 

TECHNICAL DETAILS

 

No. of Floor and Height of each

Ground floor. Ht is variable of roof

 

 

Plinth Area Floor Wise (As per IS 3861-1966)

197.32 s.m. + 144.23 s.m. based on physical measurements.

 

 

Year of construction

About 14 years old, as orally informed 

 

 

Estimated future life

Residual Life of about 36 years

 

 

Type of construction

Load bearing walls

 

 

Type of Foundation

P.C.C. / Stone masonary

 

 

Walls

7.       Basement and Plinth.

8.       Ground floor

9.       Super structure above G.F.

 

Stone Masonary

Bella Masonary

----

 

 

Partitions

Bella Masonary

 

 

Doors-windows (Floor-wise)

Rolling Shutters, Wooden Door and Windows.

 

 

Flooring (Floor-wise)

C.C Flooring

 

 

Finishing (Floor-wise)

Cement plaster neroo finished

 

 

Roofing and Terracing.

A.C. sheet roof with M. S. trusse

 

 

Special Architectural or decorative features, if any?

--------

(a) Internal wiring

(b) Class of fitting.

Surface Wiring

Ordinary

 

 

Sanitary Installations.

As per Owner’s requirements

 

 

Class of fittings, Superior Colored / superior white/ Ordinary.

Ordinary

 

 

Compound walls.

(i) Height and Length

(ii) Type of construction

 

2.00 m on periphery 

Bella Masonary

 

 

Nos. of lifts and capacity

-----

 

 

Underground Sump, Capacity and Type of construction

Bella Masonary and Cement Plastered

 

 

Overhead Tank

-----

 

 

Pump Nos. and their Horse power

-----

 

 

Road paving within the Compound app. Area and type of paving

Leveled and Partly C.C. 

 

 

Sewage disposal system

Soak Pit

 

 

PART - I - DETAILS OF PROPERTY

 

It is located at well developed industrial locality of Limbdi. The Buildings are well built and maintained in normal and useable condition. The entire property is in possession of the owner for their industrial usage. The industry is in running condition at the time of site inspection. The built up area is considered following actual measurements t site, in view of certain variation in construction than approved plan. There is no wall separating Building on Plot No.139/3 and 139/4 both belonging to the same owner.

 

 

VALUATION CALCULATIONS

 

A] LAND

 

It has been derived based on detailed oral inquiry for the prevailing land rate in the locality from the local persons dealing in land business, and taking into consideration, shape, size, orientation, location, topographical level, available nearby amenities etc,

 

The Govt. Jantri rate of land for industrial land in the locality is Rs.1600/- S.M.

 

The Govt. Jantri rate does not reflect presently prevailing market rate, as the Govt. Jantri rate is for calculating and recovery of Stamp duty only.

 

The land rate for such type of land can be considered as about Rs.2,800/- S.M. (Rs.2341/- Sq.yds)

 

(a) Value of land considered

 

= 703.00 S.M. @ Rs.2,800/- S.M = Rs.1.968 Millions

 

(B) BUILDING

 

The value of buildings is derived based on type and quality of materials used, type of workmanship and quality of finishes used. The value of such building is considered deducting depreciation for past age for structure, based on the built up area.

 

·         Front Shed = 197.32 S.M. @ Rs.4,000/- S.M Rs.0.789 Million

·         Rear shed = 144.23 S.M. @ Rs.3,800/- S.M Rs.0.548 Million

·         Add for comp. wall and open  space (compound) developmental Works as LS = Rs.0.150 Million

 

TOTAL = RS.1.487 MILLIONS

 

Depreciation by straight line method: 0.9 x 14/50 x 100 = 25.20% Say 25%

Net value after depreciation 75% Rs.1.116 Millions

 

TOTAL = RS.1.116 MILLIONS

 

 

FINAL VALUE

 

Value of Land – Rs.1.968 Millions

Value of Building with land development works  - Rs.1.116 Millions

 

The present market value of the above industrial property at present stage and in its present condition can therefore be considered as about Rs.3.084 Millions as fair, subject to title clear report of bank's panel advocate.

 

 

PARAMETERS AND OBSERVATIONS

 

1 Detail of value

 

A] Present Market Value

= Rs.3.084 Millions

 

B] Value as per Govt. Jantri rate of land + Building

= 703.00 S.M. @ Rs.1,600/-S.M. = Rs.1.125 Millions + Rs.1.116 Millions of Bldg at present stage Rs.2.241 Millions

 

C] Distressed Sale Value

= 75% of Rs.3.084 Millions = Rs.2.313 Millions

 

2. This is an industrial Property in the entire possession of the owner

 

3. The right property was identified and inspected in the presence of owner’s representative – Mr. Rana and Staff.

 

4. The right value of the property is derived at prevailing present market rate. 

 

 

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

 

VALUATION REPORT

 

Purpose for which valuation is made

For submission to Bank of India Rajkot Main Branch - Rajkot.

 

 

Date as on which valuation is made.

22/5/2012

 

 

Name of Owner

D.C. Sales Corporation Prop.: Mr. Hiteshkumar Dhirajlal Mashrani  

 

 

If the prop, is under joint Ownership/Co-ownership share of each such owners are the shares undivided.

Name of Proprietary Firm

 

 

 

Brief description of property,

It is an industrial property of Manufacturer of P.V.C. Water Storage Tank

 

 

Location, Street, Ward No.

Plot No.139/4, GIDC Industrial Estate – II, Opposite Makwana Textiles, Off National Highway at Limbdi. (District : Surendrangar)

 

 

Survey/Plot No?

R.S.No.386, Plot No.139/4.

 

 

Is the property situated in Residential / Commercial / Industrial area

Industrial Area

 

 

 

Classification of locality High class/ Middle class/Poor class.

Industrially Middle Class

 

 

Proximity to civic amenities like Schools, Hospitals, S.T. Bus stand, Cinemas etc.

Available at Limbdi at about 2 to 3 km. distance

 

 

Means and proximity to surface communication by     which the locality is served

By all types of vehicles

 

 

 

LAND

 

Area of land supported by documen­tary proof, shape, dimensions & physical features.

703.00 s.m. (840.78 Sq. yds) as per transfer order of GIDC dt. 17.02.2012

 

 

Boundaries of Plot

North : Owner’s Plot No.139/3 with Building

South : Other’s Property on Plot 139/5

East : 14 mts. Wide Road

West : Other’s Property on Plot 139/7

 

 

Is it freehold or leasehold land?

Leasehold

 

 

If Leasehold the name of leaser/ lessee

Lessor: GIDC, Lease of 99 year from 30.09.1991

 

 

Is there any restrictive condition in regard to use of land? If so attach a copy of the convenient.

For Industrial use.

 

 

Has any contribution been made towards development or is any demand for such contribution still outstanding?

Developed Industrial Estate

 

 

Furnish Technical details of the building on a separate sheet.

Furnished

(a) Is the building owner occupied/ tenanted/ both?

Entirely Owner

(b) If the partly owner occupied specified portion and extent of area under owner-occupation.

No

 

 

What is the F.S.I permissible and percentage actually utilized

FSI used is within permissible limits.

 

 

RENTS

 

 

 

Give details of Water and Elect. Charge? Is any to be borne by the owner

Entirely by owner

 

 

If pump is installed, who has to bear the cost of maintenance and operations?

By Owner

 

 

Who has to bear the cost of electricity charge for lighting of common pace like entrance hall, stairs, passages, compound etc.

By Owner

 

 

What is the amount of property Tax? Who has bear it? Give detail with documentary Proof

Not details furnished 

 

 

COST OF CONSTRUCTION

 

Year of commencement of const and year of completion.

Before about 16 years, as orally informed

 

 

TECHNICAL DETAILS

 

No. of Floor and Height of each

Ground floor. Ht is variable of roof

 

 

Plinth Area Floor Wise (As per IS 3861-1966)

Refer “Valuation Calculations”

 

 

Year of construction

About 16 years old, as orally informed 

 

 

Estimated future life

Residual Life of about 34 years

 

 

Type of construction

Load bearing walls

 

 

Type of Foundation

P.C.C. / Stone masonary

 

 

Walls

10.   Basement and Plinth.

11.   Ground floor

12.   Super structure above G.F.

 

Stone Masonary

Bella Masonary

----

 

 

Partitions

Bella Masonary

 

 

Doors-windows (Floor-wise)

Rolling Shutters, Wooden Door and Windows.

 

 

Flooring (Floor-wise)

C.C Flooring

 

 

Finishing (Floor-wise)

Cement plaster neroo finished

 

 

Roofing and Terracing.

A.C. sheet roof with M. S. trusse

 

 

Special Architectural or decorative features, if any?

--------

(a) Internal wiring

(b) Class of fitting.

Surface Wiring

Ordinary

 

 

Sanitary Installations.

As per Owner’s requirements

 

 

Class of fittings, Superior Colored / superior white/ Ordinary.

Ordinary

 

 

Compound walls.

(i) Height and Length

(ii) Type of construction

 

2.00 m on periphery 

Bella Masonary

 

 

Nos. of lifts and capacity

-----

 

 

Underground Sump, Capacity and Type of construction

Bella Masonary and Cement Plastered

 

 

Overhead Tank

-----

 

 

Pump Nos. and their Horse power

-----

 

 

Road paving within the Compound app. Area and type of paving

Leveled and Partly C.C. 

 

 

Sewage disposal system

Soak Pit

 

 

PART - I - DETAILS OF PROPERTY

 

It is located at well developed industrial locality of Limbdi. The Buildings are well built and maintained in normal and useable condition. The entire property is in possession of the owner for their industrial usage. The industry is in running condition at the time of site inspection. The built up area is considered following actual measurements t site, in view of certain variation in construction than approved plan. There is no wall separating Building on Plot No.139/3 and 139/4 both belonging to the same owner.

 

 

VALUATION CALCULATIONS

 

A] LAND

 

It has been derived based on detailed oral inquiry for the prevailing land rate in the locality from the local persons dealing in land business, and taking into consideration, shape, size, orientation, location, topographical level, available nearby amenities etc,

 

The Govt. Jantri rate of land for industrial land in the locality is Rs.1600/- S.M.

 

The Govt. Jantri rate does not reflect presently prevailing market rate, as the Govt. Jantri rate is for calculating and recovery of Stamp duty only.

 

The land rate for such type of land can be considered as about Rs.2,800/- S.M. (Rs.2341/- Sq.yds)

 

(a) Value of land considered

 

= 703.00 S.M. @ Rs.2,800/- S.M = Rs.1.968 Millions

 

(B) BUILDING

 

The value of buildings is derived based on type and quality of materials used, type of workmanship and quality of finishes used. The value of such building is considered deducting depreciation for past age for structure, based on the built up area.

 

·         Main Shed = 75.32 S.M. @ Rs.4,000/- S.M Rs.0.301 Million

·         Rear slant roof shed = 23.46 S.M. @ Rs.3,500/- S.M Rs.0.082 Million

·         Labour Quarters = 87.60 s.m. @ Rs.3,000/- s.m. = Rs.0.263 Million

·         Add for comp. wall and open  space (compound) developmental Works as LS = Rs.0.050 Million

 

TOTAL = RS.0.696 MILLION

 

Depreciation by straight line method: 0.9 x 14/50 x 100 = 28.80% Say 29%

Net value after depreciation 71% Rs.0.696 Million = Rs.0.494 Million

 

TOTAL = RS.0.494 MILLION

 

 

FINAL VALUE

 

Value of Land – Rs.1.968 Millions

Value of Building with land development works  - Rs.0.494 Million

 

The present market value of the above industrial property at present stage and in its present condition can therefore be considered as about Rs.2.462 Millions as fair, subject to title clear report of bank's panel advocate.

 

 

PARAMETERS AND OBSERVATIONS

 

1 Detail of value

 

A] Present Market Value

= Rs.2.462 Millions

 

B] Value as per Govt. Jantri rate of land + Building

= 703.00 S.M. @ Rs.1,600/-S.M. = Rs.1.125 Millions + Rs.0.494 Million of Bldg = Rs.1.619 Millions

 

C] Distressed Sale Value

= 75% of Rs.2.462 Millions = Rs.1.847 Millions

 

2. This is an industrial Property in the entire possession of the owner

 

3. The right property was identified and inspected in the presence of owner’s representative – Mr. Rana and Staff.

 

4. The right value of the property is derived at prevailing present market rate. 

 

 

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

 

VALUATION REPORT

 

Purpose for which valuation is made

For submission to Bank of India Rajkot Main Branch - Rajkot.

 

 

Date as on which valuation is made.

23/5/2012

 

 

Name of Owner

Mrs. Rasikba Hitendrainh Rana

 

 

If the prop, is under joint Ownership/Co-ownership share of each such owners are the shares undivided.

Individual

 

 

 

Brief description of property,

It is a residential propriety used by the owner

 

 

Location, Street, Ward No.

“Shakti”, Plot No.2, C.S. No.47/A/2, Shiv Ashish Society, Opposite Dr. Mehar’s Hospital, B/h. New Bus Station, at LIMBDI. (District : Surendrangar)

 

 

Survey/Plot No?

Plot No.2, C.S. No.47/A/2

 

 

Is the property situated in Residential / Commercial / Industrial area

Residential

 

 

Classification of locality High class/ Middle class/Poor class.

Well developed high-class residential locality 

 

 

Proximity to civic amenities like Schools, Hospitals, S.T. Bus stand, Cinemas etc.

Available very near by 

 

 

Means and proximity to surface communication by     which the locality is served

By all types of vehicles

 

 

 

LAND

 

Area of land supported by documen­tary proof, shape, dimensions & physical features.

300.70 s.m. (359.63 Sq. yds) vide Regi Deed No.89 dt 28.01.1993.

 

 

Boundaries of Plot

North : Other’s Property Plot No.3

South : Other’s Property

East : 25ft. wide Road

West : Other’s Property

 

 

Is it freehold or leasehold land?

Freehold N.A. Plotting

 

 

If Leasehold the name of leaser/ lessee

Not Applicable

 

 

Is there any restrictive condition in regard to use of land? If so attach a copy of the convenient.

For residential use.

 

 

Has any contribution been made towards development or is any demand for such contribution still outstanding?

Well Developed High-Class Residential Locality

 

 

Furnish Technical details of the building on a separate sheet.

Furnished

(a) Is the building owner occupied/ tenanted/ both?

Entirely Owner

(b) If the partly owner occupied specified portion and extent of area under owner-occupation.

No

 

 

What is the F.S.I permissible and percentage actually utilized

FSI used is within permissible limits.

 

 

RENTS

 

 

 

Give details of Water and Elect. Charge? Is any to be borne by the owner

Entirely by owner

 

 

If pump is installed, who has to bear the cost of maintenance and operations?

By Owner

 

 

Who has to bear the cost of electricity charge for lighting of common pace like entrance hall, stairs, passages, compound etc.

By Owner

 

 

What is the amount of property Tax? Who has bear it? Give detail with documentary Proof

Not details furnished 

 

 

COST OF CONSTRUCTION

 

Year of commencement of const and year of completion.

1993-94, as per approved Plan 

 

 

TECHNICAL DETAILS

 

No. of Floor and Height of each

Ground floor + Partly First Floor Ht. is variable of Roof

 

 

Plinth Area Floor Wise (As per IS 3861-1966)

Refer “Valuation Calculations”

 

 

Year of construction

1993-94 

 

 

Estimated future life

Residual Life of about 47 years

 

 

Type of construction

Load bearing walls

 

 

Type of Foundation

P.C.C. / Stone masonary

 

 

Walls

13.   Basement and Plinth.

14.   Ground floor

15.   Super structure above G.F.

 

Stone Masonary

Bella Masonary

----

 

 

Partitions

Bella Masonary

 

 

Doors-windows (Floor-wise)

Good Quality of Wooden Doors and Windows.

 

 

Flooring (Floor-wise)

Mosaic Tiles Flooring

 

 

Finishing (Floor-wise)

Cement plaster neroo finished with paint

 

 

Roofing and Terracing.

R.C.C. Slab with Cement Plaster

 

 

Special Architectural or decorative features, if any?

Yes, Attractive Elevation by Slant Roof on double height portion

(a) Internal wiring

(b) Class of fitting.

Concealed  Wiring

Good Quality

 

 

Sanitary Installations.

As per Owner’s requirements

 

 

Class of fittings, Superior Colored / superior white/ Ordinary.

Good Quality

 

 

Compound walls.

(i) Height and Length

(ii) Type of construction

 

1.80 m on periphery 

Bella Masonary

 

 

Nos. of lifts and capacity

-----

 

 

Underground Sump, Capacity and Type of construction

Bella Masonary and Cement Plastered

 

 

Overhead Tank

Yes

 

 

Pump Nos. and their Horse power

Yes, on bore and water tank

 

 

Road paving within the Compound app. Area and type of paving

Leveled with good quality  

 

 

Sewage disposal system

Septik Tank

 

 

PART - I - DETAILS OF PROPERTY

 

It is located at well developed residential locality of Limbdi. The Building is well planned built and maintained in quite good and useable condition. The entire property is in possession of the owner for their industrial usage. The industry is in running condition at the time of site inspection. The built up area is considered following actual measurements t site, in view of certain variation in construction than approved plan. There is no wall separating Building on Plot No.139/3 and 139/4 both belonging to the same owner.

 

 

VALUATION CALCULATIONS

 

A] LAND

 

It has been derived based on detailed oral inquiry for the prevailing land rate in the locality from the local persons dealing in land business, and taking into consideration, shape, size, orientation, location, topographical level, available nearby amenities etc,

 

The Govt. Jantri rate of land for industrial land in the locality is Rs.0.850/- S.M.

 

The Govt. Jantri rate does not reflect presently prevailing market rate, as the Govt. Jantri rate is for calculating and recovery of Stamp duty only.

 

The land rate for such type of land can be considered as about Rs.5,500/- S.M. (Rs.4598/- Sq.yds)

 

(a) Value of land considered

 

= 300.70 S.M. @ Rs.5,500/- S.M = Rs.1.654 Millions

 

(B) BUILDING

 

The value of buildings is derived based on type and quality of materials used, type of workmanship and quality of finishes used. The value of such building is considered deducting depreciation for past age for structure, based on the built up area.

 

·         Main Building (B. U. A. as preapproved plan of G.F. = 103.84 S.M. and F.F. = 41.46 S.M. = 145.30 S.M.)

 = 145.30 S.M. @ Rs.10,000/- S.M - Rs.1.453 Millions

 

·         Add for Comp. Wall, Gate, Bore with Pumpset, water Tanks paving in court yard, Elevation Treatment and Projection Works etc. as L. S. = Rs.0.250 Million

 

TOTAL = RS.1.703 MILLIONS

 

Depreciation by straight line method: 0.9 x 18/65 x 100 = 24.92 % Say 25%

Net value after depreciation 75% Rs.1.703 Millions = Rs.1.277 Millions

 

Add for laminated / Polished wooden fixed furniture and other interior works done recently etc as L.S. = Rs.0.400 Million

 

Total value of Building with interior and fixed Furniture Rs.1.677 Millions 

 

 

FINAL VALUE

 

Value of Land – Rs.1.654 Millions

Value of Building with land development works  - Rs.1.677 Millions

 

Total value of Property = Rs.3.331 Millions

 

The present market value of the above rich residential property at present stage and in its present condition can therefore be considered as about Rs.3.331 Millions as fair, subject to title clear report of bank's panel advocate.

 

 

PARAMETERS AND OBSERVATIONS

 

1 Detail of value

 

A] Present Market Value

= Rs.3.331 Millions

 

B] Value as per Govt. Jantri rate of land + Building

= 300.70 S.M. @ Rs.850/-S.M. = Rs.0.256 Million + Rs.1.677 Millions of Bldg = Rs.1.933 Millions

 

C] Distressed Sale Value

= 75% of Rs.3.331 Millions = Rs.2.498 Millions

 

2. This is a rich residential Property in the entire possession of the owner

 

3. The right property was identified and inspected in the presence of owner’s son – Mr. Rana

 

4. The right value of the property is derived at prevailing present market rate. 

 

 

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

 

 

VALUATION REPORT

 

Purpose for which valuation is made

For submission to Bank of India Rajkot Main Branch - Rajkot.

 

 

Date as on which valuation is made.

19/5/2012

 

 

Name of Owner

Mrs. Nehaben Hiteshkumar Mashrani

 

 

If the prop, is under joint Ownership/Co-ownership share of each such owners are the shares undivided.

Individual

 

 

 

Brief description of property,

It is a rich residential propriety with the owner

 

 

Location, Street, Ward No.

“Parmi Hill”, Sub Plot No.27/1, R. S. No.1814, C. S. No.311 to 313 P, Yogeshwar Park society, Near Tapovan Bunglow, Off 80 Ft. Wide Road, at Wadhwan (District : Surendrangar)

 

 

Survey/Plot No?

Sub Plot No.27/1, R. S. No.1814, C. S. No.311 to 313 P

 

 

Is the property situated in Residential / Commercial / Industrial area

Residential

 

 

Classification of locality High class/ Middle class/Poor class.

Well developed residential locality 

 

 

Proximity to civic amenities like Schools, Hospitals, S.T. Bus stand, Cinemas etc.

Available very near by 

 

 

Means and proximity to surface communication by     which the locality is served

By all types of vehicles

 

 

 

LAND

 

Area of land supported by documen­tary proof, shape, dimensions & physical features.

85.18 S.M. (101.87 Sq. yds) Vide Regi Deed No.3013 dt 01.12.2006.

 

 

Boundaries of Plot

North : Other’s Property Plot No.31

South : 6 mts wide road

East : Other’s Property Plot No.27/B

West : Other’s Property F. P. No. 295

 

 

Is it freehold or leasehold land?

Freehold N.A. Plotting

 

 

If Leasehold the name of leaser/ lessee

Not Applicable

 

 

Is there any restrictive condition in regard to use of land? If so attach a copy of the convenient.

For residential use.

 

 

Has any contribution been made towards development or is any demand for such contribution still outstanding?

Well Developed Residential Locality

 

 

Furnish Technical details of the building on a separate sheet.

Furnished

(a) Is the building owner occupied/ tenanted/ both?

Entirely Owner

(b) If the partly owner occupied specified portion and extent of area under owner-occupation.

No

 

 

What is the F.S.I permissible and percentage actually utilized

FSI used is within permissible limits.

 

 

RENTS

 

 

 

Give details of Water and Elect. Charge? Is any to be borne by the owner

Entirely by owner

 

 

If pump is installed, who has to bear the cost of maintenance and operations?

By Owner

 

 

Who has to bear the cost of electricity charge for lighting of common pace like entrance hall, stairs, passages, compound etc.

By Owner

 

 

What is the amount of property Tax? Who has bear it? Give detail with documentary Proof

Not details furnished 

 

 

COST OF CONSTRUCTION

 

Year of commencement of const and year of completion.

2006-07, as per approved Plan 

 

 

TECHNICAL DETAILS

 

No. of Floor and Height of each

Ground floor + Partly First Floor Ht. is 3 mts.

 

 

Plinth Area Floor Wise (As per IS 3861-1966)

Refer “Valuation Calculations”

 

 

Year of construction

2006-07, as per approved Plan 

 

 

Estimated future life

Residual Life of about 55 years

 

 

Type of construction

Load bearing walls

 

 

Type of Foundation

P.C.C. / Stone masonary

 

 

Walls

16.   Basement and Plinth.

17.   Ground floor

18.   Super structure above G.F.

 

Stone Masonary

Bella Masonary

----

 

 

Partitions

Bella/ BK Masonary

 

 

Doors-windows (Floor-wise)

Good Quality of Wooden Doors and Windows.

 

 

Flooring (Floor-wise)

Vitrified Tiles Flooring

 

 

Finishing (Floor-wise)

Cement plaster neroo finished with paint

 

 

Roofing and Terracing.

R.C.C. Slab with Cement Plaster

 

 

Special Architectural or decorative features, if any?

------

(a) Internal wiring

(b) Class of fitting.

Concealed  Wiring

Good Quality

 

 

Sanitary Installations.

As per Owner’s requirements

 

 

Class of fittings, Superior Colored / superior white/ Ordinary.

Good Quality

 

 

Compound walls.

(i) Height and Length

(ii) Type of construction

 

1.50 m on periphery 

Bella/ BK. Masonary

 

 

Nos. of lifts and capacity

-----

 

 

Underground Sump, Capacity and Type of construction

Bella Masonary / BK and  Cement Plastered

 

 

Overhead Tank

Yes

 

 

Pump Nos. and their Horse power

Yes, on water tank

 

 

Road paving within the Compound app. Area and type of paving

Leveled with good quality  

 

 

Sewage disposal system

Septik Tank

 

 

PART - I - DETAILS OF PROPERTY

 

It is located at well developed rich residential locality of Wadhwan. The Building is built using rich and costlier finished. The entire property is in possession of the owner for the residential. The built up area is considered as per approved plan of the local body.

 

 

VALUATION CALCULATIONS

 

A] LAND

 

It has been derived based on detailed oral inquiry for the prevailing land rate in the locality from the local persons dealing in land business, and taking into consideration, shape, size, orientation, location, topographical level, available nearby amenities etc,

 

The Govt. Jantri rate of land for industrial land in the locality is Rs.4600 /- S.M.

 

The Govt. Jantri rate does not reflect presently prevailing market rate, as the Govt. Jantri rate is for calculating and recovery of Stamp duty only.

 

The land rate for such type of land can be considered as about Rs.33,000/- S.M. (Rs.27,591/- Sq.yds)

 

(a) Value of land considered

 

= 85.18 S.M. @ Rs.33,000/- S.M = Rs.2.811 Millions

 

(B) BUILDING

 

The value of buildings is derived based on type and quality of materials used, type of workmanship and quality of finishes used. The value of such building is considered deducting depreciation for past age for structure, based on the built up area.

 

·         Main Building (B. U. A. as preapproved plan of G.F. = 50.52 S.M. and F.F. = 47.90 S.M.)

 = 98.42 S.M. @ Rs.10,000/- S.M - Rs.0.984 Million

 

·         Add for Comp. Wall, Gate, Bore with Pumpset, water Tanks paving in court yard, Elevation Treatment and Projection Works etc. as L.S. = Rs.0.200 Million

 

TOTAL = RS.1.184 MILLIONS

 

Depreciation by straight line method: 0.9 x 5/60 x 100 = 7.50 % Say 8%

Net value after depreciation 92% Rs.1.184 Millions = Rs.1.089 Millions

 

Add for laminated / Polished wooden fixed wardrobe in bed room Kitchen and Other interior work done etc as LS Rs.0.450 Million

 

Total value of Building with interior and fixed Furniture Rs.1.539 Millions 

 

 

FINAL VALUE

 

Value of Land – Rs.2.811 Millions

Value of Building with land development works  - Rs.1.539 Millions

 

Total value of Property = Rs.4.350 Millions

 

The present market value of the above rich residential property at present stage and in its present condition can therefore be considered as about Rs.4.350 Millions as fair, subject to title clear report of bank's panel advocate.

 

 

PARAMETERS AND OBSERVATIONS

 

1 Detail of value

 

A] Present Market Value

= Rs.4.350 Millions

 

B] Value as per Govt. Jantri rate of land + Building

= 85.15 S.M. @ Rs.4,600/-S.M. = Rs.0.392 Million + Rs.1.539 Millions of Bldg = Rs.1.931 Millions

 

C] Distressed Sale Value

= 75% of Rs.4.350 Millions = Rs.3.263 Millions

 

2. This is an rich residential Property in the entire possession of the owner as residence.

 

3. The right property was identified and inspected in the presence of owner’s husband – Mr. Hiteshkumar Mashrani.

 

4. The right value of the property is derived at prevailing present market rate. 

 

 

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

 

VALUATION REPORT

 

Purpose for which valuation is made

For submission to Bank of India Rajkot Main Branch - Rajkot.

 

 

Date as on which valuation is made.

23/5/2012

 

 

Name of Owner

Mrs. Indumatiben Dhirajlal Thakkr

 

 

If the prop, is under joint Ownership/Co-ownership share of each such owners are the shares undivided.

Individual

 

 

 

Brief description of property,

It is a residential propriety used for storage of Good.

 

 

Location, Street, Ward No.

“Krishna Kunj”, Block No.9, C.S. No.3102, Shri Yashehswar Co-operating Housing society Limited, Opposite Sundaram Building, collage Road at Limbdi. (District : Surendrangar)

 

 

Survey/Plot No.

Block No.9, C.S. No.3102

 

 

Is the property situated in Residential / Commercial / Industrial area

Residential

 

 

Classification of locality High class/ Middle class/Poor class.

Well developed residential locality 

 

 

Proximity to civic amenities like Schools, Hospitals, S.T. Bus stand, Cinemas etc.

Available very near by 

 

 

Means and proximity to surface communication by     which the locality is served

By all types of vehicles

 

 

 

LAND

 

Area of land supported by documen­tary proof, shape, dimensions & physical features.

266.36 S.M. (318.56 Sq. yds) Vide Regi Deed No.1464 dt 02.06.2007.

 

 

Boundaries of Plot

North : 20 ft. wide society Road

South : Block No.6

East : Block No.8

West : Block No.10

 

 

Is it freehold or leasehold land?

Freehold N.A. Plotting of society

 

 

If Leasehold the name of leaser/ lessee

Not Applicable

 

 

Is there any restrictive condition in regard to use of land? If so attach a copy of the convenient.

For residential use.

 

 

Has any contribution been made towards development or is any demand for such contribution still outstanding?

Well Developed Residential Locality

 

 

Furnish Technical details of the building on a separate sheet.

Furnished

(a) Is the building owner occupied/ tenanted/ both?

Entirely Owner

(b) If the partly owner occupied specified portion and extent of area under owner-occupation.

No

 

 

What is the F.S.I permissible and percentage actually utilized

FSI used is within permissible limits.

 

 

RENTS

 

 

 

Give details of Water and Elect. Charge? Is any to be borne by the owner

Entirely by owner

 

 

If pump is installed, who has to bear the cost of maintenance and operations?

By Owner

 

 

Who has to bear the cost of electricity charge for lighting of common pace like entrance hall, stairs, passages, compound etc.

By Owner

 

 

What is the amount of property Tax? Who has bear it? Give detail with documentary Proof

Not details furnished 

 

 

COST OF CONSTRUCTION

 

Year of commencement of const and year of completion.

1977, as per Regi deed and entirely renovated before about 15 year as orally informed.

 

 

TECHNICAL DETAILS

 

No. of Floor and Height of each

Ground floor Ht. is 3 mts.

 

 

Plinth Area Floor Wise (As per IS 3861-1966)

Refer “Valuation Calculations”

 

 

Year of construction

1977, as per Regi deed and entirely renovated before about 15 year as orally informed.

 

 

Estimated future life

Residual Life of about 45 years

 

 

Type of construction

Load bearing walls

 

 

Type of Foundation

P.C.C. / Stone masonary

 

 

Walls

19.   Basement and Plinth.

20.   Ground floor

21.   Super structure above G.F.

 

Stone Masonary

Bella Masonary

----

 

 

Partitions

Bella/ BK Masonary

 

 

Doors-windows (Floor-wise)

Good Quality of Wooden Doors and Windows.

 

 

Flooring (Floor-wise)

Mosaic Tiles Flooring

 

 

Finishing (Floor-wise)

Cement plaster neroo finished with paint

 

 

Roofing and Terracing.

R.C.C. Slab with Cement Plaster

 

 

Special Architectural or decorative features, if any?

------

(a) Internal wiring

(b) Class of fitting.

Concealed  Wiring

Good Quality

 

 

Sanitary Installations.

As per Owner’s requirements

 

 

Class of fittings, Superior Colored / superior white/ Ordinary.

Good Quality

 

 

Compound walls.

(i) Height and Length

(ii) Type of construction

 

1.80 m on periphery 

Bella/ BK. Masonary

 

 

Nos. of lifts and capacity

-----

 

 

Underground Sump, Capacity and Type of construction

Bella Masonary and  Cement Plastered

 

 

Overhead Tank

Yes

 

 

Pump Nos. and their Horse power

Yes, on water tank

 

 

Road paving within the Compound app. Area and type of paving

Leveled with good quality  

 

 

Sewage disposal system

Septik Tank

 

 

PART - I - DETAILS OF PROPERTY

 

It is located at well developed old residential locality of Limbdi. The Building is Maintained in quite good and useable condition. The entire property is in possession of the owner for the storage purpose. The built up area is considered as per Physical Measurements in absence of the approved plan.

 

VALUATION CALCULATIONS

 

A] LAND

 

It has been derived based on detailed oral inquiry for the prevailing land rate in the locality from the local persons dealing in land business, and taking into consideration, shape, size, orientation, location, topographical level, available nearby amenities etc,

 

The Govt. Jantri rate of land for industrial land in the locality is Rs.4000 /- S.M.

 

The Govt. Jantri rate does not reflect presently prevailing market rate, as the Govt. Jantri rate is for calculating and recovery of Stamp duty only.

 

The land rate for such type of land can be considered as about Rs.5,000/- S.M. (Rs.4180/- Sq.yds)

 

(a) Value of land considered

 

= 266.36 S.M. @ Rs.5,000/- S.M = Rs.1.332 Millions

 

(B) BUILDING

 

The value of buildings is derived based on type and quality of materials used, type of workmanship and quality of finishes used. The value of such building is considered deducting depreciation for past age for structure, based on the built up area.

 

·         Main Building )

 = 116.68 S.M. @ Rs.9,500/- S.M - Rs.1.108 Millions

 

·         Garage Portion

= 18.41 S.M. @ Rs.8,500 S.M. = Rs.0.156 million

 

·         Add for Comp. Wall, Gate, Open RCC Stair, Water Tanks paving in court yard, Elevation Projection Works etc as L.S. = Rs.0.200 Million

 

TOTAL = RS.1.465 MILLIONS

 

Depreciation by straight line method: 0.9 x 15/60 x 100 = 22.50 % Say 23%

Net value after depreciation 77% Rs.1.465 Millions = Rs.1.128 Millions

 

Add for laminated / Polished wooden fixed wardrobe in bed room Kitchen and Other interior work done etc as LS Rs.0.450 Million

 

Total value of Building with interior and fixed Furniture Rs.1.539 Millions 

 

 

FINAL VALUE

 

Value of Land – Rs.1.332 Millions

Value of Building with land development works  - Rs.1.128 Millions

 

Total value of Property = Rs.2.460 Millions

 

The present market value of the above residential property at present stage and in its present condition can therefore be considered as about Rs.2.460 Millions as fair, subject to title clear report of bank's panel advocate.

 

 

PARAMETERS AND OBSERVATIONS

 

1 Detail of value

 

A] Present Market Value

= Rs.2.460 Millions

 

B] Value as per Govt. Jantri rate of land + Building

= 266.36 S.M. @ Rs.4,000/-S.M. = Rs.1.065 Millions + Rs.1.128 Millions of Bldg = Rs.2.193 Millions

 

C] Distressed Sale Value

= 75% of Rs.2.460 Millions = Rs.1.845 Millions

 

2. This is a residential Property in the entire possession of the owner for storing of Goods.

 

3. The right property was identified and inspected in the presence of owner’s representative – Mr. Rana

 

4. The right value of the property is derived at prevailing present market rate. 

 

 

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

 

 

VALUATION REPORT

 

Purpose for which valuation is made

For submission to Bank of India Rajkot Main Branch - Rajkot.

 

 

Date as on which valuation is made.

23/5/2012

 

 

Name of Owner

Mr. Hiteshkumar Dhirajlal Thakkr

 

 

If the prop, is under joint Ownership/Co-ownership share of each such owners are the shares undivided.

Individual

 

 

 

Brief description of property,

It is a commercial Shop on ownership basis, used by the owners friend as informed

 

 

Location, Street, Ward No.

“Patel Computers”, Shop No. A-2, Ground Floor, Balkrishna Market, A. D. Jani Road, at Limbdi (District : Surendrangar)

 

 

Survey/Plot No.

C.S. No.2429/1

 

 

Is the property situated in Residential / Commercial / Industrial area

Commercial

 

 

Classification of locality High class/ Middle class/Poor class.

Developed Commercial Locality 

 

 

Proximity to civic amenities like Schools, Hospitals, S.T. Bus stand, Cinemas etc.

Available very near by 

 

 

Means and proximity to surface communication by     which the locality is served

By all types of vehicles

 

 

 

LAND

 

Area of land supported by documen­tary proof, shape, dimensions & physical features.

Shop Area = 15.56 S.M. (167.48 sq. ft.) vide Regi Deed No.1826 dt 16.12.2005.

 

 

Boundaries of Plot

North : Shop No. B-5 and B-6

South : Entrance

East : other’ Property of S.No.2428

West : Shop No.B-3

 

 

Is it freehold or leasehold land?

Freehold Gamtal Land 

 

 

If Leasehold the name of leaser/ lessee

Not Applicable

 

 

Is there any restrictive condition in regard to use of land? If so attach a copy of the convenient.

For commercial use.

 

 

Has any contribution been made towards development or is any demand for such contribution still outstanding?

Developed Commercial Locality

 

 

Furnish Technical details of the building on a separate sheet.

Furnished

(a) Is the building owner occupied/ tenanted/ both?

Entirely with Owner friend as informed 

(b) If the partly owner occupied specified portion and extent of area under owner-occupation.

Entirely with Owner friend as informed 

 

 

What is the F.S.I permissible and percentage actually utilized

Not Applicable, being a hop on ownership basis 

 

 

RENTS

 

 

 

Give details of Water and Elect. Charge? Is any to be borne by the owner

Entirely by owner

 

 

If pump is installed, who has to bear the cost of maintenance and operations?

By Owner

 

 

Who has to bear the cost of electricity charge for lighting of common pace like entrance hall, stairs, passages, compound etc.

By Owner

 

 

What is the amount of property Tax? Who has bear it? Give detail with documentary Proof

Not details furnished 

 

 

COST OF CONSTRUCTION

 

Year of commencement of const and year of completion.

2000-01, based on approved plan

 

 

TECHNICAL DETAILS

 

No. of Floor and Height of each

The said hop is at ground Floor. Ht. is 3 mt.

 

 

Plinth Area Floor Wise (As per IS 3861-1966)

Shop Area = 15.56 .M. (167.48 sq. ft.) vide regi deed no.1826 dt. 16.12.2005

 

 

Year of construction

2000-01, based on approved plan

 

 

Estimated future life

Residual Life of about 54 years

 

 

Type of construction

RCC Framed structure

 

 

Type of Foundation

RCC Coln. Footings

 

 

Walls

22.   Basement and Plinth.

23.   Ground floor

24.   Super structure above G.F.

 

Stone Masonary

Bella/ BK Masonary

------

 

 

Partitions

------

 

 

Doors-windows (Floor-wise)

M. S. Rolling Shutter 

 

 

Flooring (Floor-wise)

Mosaic Tiles Flooring  in shop.

 

 

Finishing (Floor-wise)

Cement plaster neroo finished

 

 

Roofing and Terracing.

R.C.C. Slab with false ceiling 

 

 

Special Architectural or decorative features, if any?

------

(a) Internal wiring

(b) Class of fitting.

Normal

Normal

 

 

Sanitary Installations.

------

 

 

Class of fittings, Superior Colored / superior white/ Ordinary.

------

 

 

Compound walls.

(i) Height and Length

(ii) Type of construction

------

 

 

Nos. of lifts and capacity

-----

 

 

Underground Sump, Capacity and Type of construction

------

 

 

Overhead Tank

------

 

 

Pump Nos. and their Horse power

------

 

 

Road paving within the Compound app. Area and type of paving

------

 

 

Sewage disposal system

------

 

 

PART - I - DETAILS OF PROPERTY

 

It is located at well developed commercial locality of Limbdi. The Building is about 11 year old and is in normal useable condition. The entire property is in possession of the owner’s friends (as informed by the owner) for the computer works.

 

VALUATION CALCULATIONS

 

Normally the transaction of shop are based on Built up area at depreciated rate, location, locality amenities provided in the complex, based on prevailing market rate.

 

= 15.56 S.M. @ Rs.38,000/- S.M. (Rs.3,530/- sft) = Rs.0.591 Million

 

Add value of wooden glass door partition and false ceiling in the hop as L.S. = Rs.0.018 Million

 

TOTAL = RS.0.609 MILLION

 

The Present market value of the above commercial shop, in its present condition (owner occupied), can therefore be considered as about Rs.0.609 Million as fair, subject to title clear report of bank’ panel advocate.

 

VALUE AS PER GOVERNMENT JANTRI RATE

 

The Govt. Jantri rate for commercial shop in the locality is Rs.20,500/- S.M. The Govt Jantri rate does not reflect presently prevailing market rate, as the Govt, Jantri rate I for calculating and recovery of Stamp duty only.

 

= 15.56 S.M. @ Rs.20,500/- S.M. (Rs.1,904.50/- sft) = Rs.0.319 Million

 

Add value of wooden glass door partition and false ceiling in the shop as L.S. – Rs.0.018 Million

 

TOTAL = RS.0.337 MILLION  

 

 

PARAMETERS AND OBSERVATIONS

 

1 Detail of value

 

A] Present Market Value

= Rs.0.609 Million

 

B] Value as per Govt. Jantri rate of Shop

= Rs.0.337 Million

 

C] Distressed Sale Value

= 75% of Rs.0.609 Million = Rs.0.457 Millions

 

2. This is a commercial shop with possession of the owner’ friend (as informed by the owner) 

 

3. The right property was identified and inspected in the presence of owner’s representative – Mr. Hirensinh H. Rana. 

 

4. The right value of the property is derived at prevailing present market rate. 

 

 

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

 

PROJECT PROFIT

 

 

 

Subject is a Partnership Firm recently established in September 2011 with the proposed business to manufacture all types and size of photo moulding double layer water tanks and unbreakable three layer water tanks with multi layer high quality materials. The Partners of the firm are Mr. Hitesh Masrani, Mr. Hirensinh Rana, Mr. Kishor Davda and Mrs. Prafulaben Sedani who has developed excellent market reputation has proposed to put up the said unit with state of the art technology in Gujarat. The proposed project size will be around Rs.79.486 Millions and the partners of the firm have proposed to avail the term loan of Rs. 36.500 Millions for the purpose of purchase of imported technology along with indigenous machinery and other misc. fixed assets and working capital of Rs. 10.000 Millions to meet liquidity requirements of the firm.

 

 

ABOUT PARTNERS:-

 

a) Mr. Hitesh Masrani; aged about 41 years is an experienced businessman with about 19 years experience in the similar business. He has been successfully associated with business related with Pet Jar, Bottles, Containers, Water Tanks etc. and running it successfully having overall control over the business affairs, product development, marketing, technology,. He was instrumental in running the success story of the similar units for almost two decade. Mr. Masarani who is technically sound in the business along with the dedication towards work and strong vision to achieve the desired goals made him successful person. He was active in the field of plastics and related packing jar, bottles, containers and tank related business for last nineteen years. He originally started with a small-scale plastics unit where he gained shop-floor experience and direct exposure to the manufacturing process. He was instrumental in developing various Jar, bottles and tanks product. He also gained tremendous experience in Marketing and Finance, which led him to do the business of his own and finally he decided to start a venture on large scale and thus the subject came in to existence in the year 2011.

 

He is also a good businessman and is financially very sound person. During the short time span of last ten years he has gained tremendous market reputation not only in terms of socially but financially too but the strong desire to do the business subsequently, propelled by the opportunities in the field, he, along with his friends Mr. Hirensinh Rana and Mr. Kishore Davda established the partnership firm known as subject, a partnership to carry out the best of water tank with multi layer unbreakable product backed by 5 years warranty period.

 

 

b) Mr. Hirensinh Rana; is aged about 30 years is Arts graduate having almost 5 years of experience in plastic and manufacturing water storage tanks in Limbadi. He is good friend of Hitenbhai and they jointly conceive the idea to put up a unit on larger scale with one of few best manufacturing facilities of three layer unbrakeable water tanks available in State of Gujarat. He is also an agriculturist and farmer. His skills and experience will be of immense help to the firm in timely implementation of project, installation and erections of misc. machineries, power supplies and successful implementation of project within given time frame.

 

c) Mr. Kishorbhai Davda; is aged about 45 years is commerce graduate having along 22 years of experience in trading business of various HDPE, PPE and plastic materials, granules etc., at Ahmedabad. One can say that he is the pioneer to found large scale trading and brokerage deal in plastic item since then at Ahmedabad and due to long and established business relation and presence in the similar industry with Mr. Hitenbhai as regular supplier of such plastic granules, he joined hands to diversify the business tactics from trading to manufacturing. His trading skills will help the firm in buying overall materials at very competitive rates along with selling the same in the marketing being in the whole sale and retail market of similar industry since last two decades.

 

d) Mrs. Prafulaben Sedani; is Arts graduate aged about 48 years is just financial contributor to the firm and project. Her husband Mr. Jagdish Sedani is Town Planning Officer at Jamnagar Municipal Corporation and has got tremendous market reputation being a social and public relation officer. She will nourish the financial requirements of the firm as and when required. The rich experience of Mr. Jagdish Sedani will be enchased for entire project to be put up in efficient and effective manner in terms of factory building construction, various approval to be obtained in short time span, site supervision etc.,

 

Thus, the partners of the firm comprises of various persons having extensive experience, skills, and qualifications of various fields. Where the founder promoters’ are possessing the sound experience related to technical, finance and other policy initiatives the company takes, the other core team members are professional possessing wide exposure of marketing, production and personnel relations.

 

 

PRODUCTS AND CAPACITY:-

 

Subject has been set up with the aim to carry on the business of manufacturing High Density Polyurethane (HDPE) Multi layer/three layer, unbreakable water storage tanks, double layer water storage tanks and other various size and type of water tanks. The product proposed by the firm has excellent market applications and in the developing country like India the usage of the said product will be tremendously high due water shortage problems. The partners have proposed to set up the unit with the technology of one of its kind in the State of Gujarat. The installed capacity of the machinery proposed to be installed will be around 100000 water tanks in various sizes and types per annum assuming 300 working days in a year. On very conservative side the firm and

proposed to start its operating capacity and in the first and second year of its operation the firm will utilize its installed capacity at around 50% and then after for subsequent years the capacity utilization will be 60%, 70%, 80% and 90% respectively.

 

 

MANUFACTUIRNG PROCESS:-

 

The quality of every product depends on how stringent quality control norms set up by the unit at the time of manufacturing process carried out. The brief of manufacturing process is described herein after; Generally for manufacturing various types and kinds of water tanks the raw materials and chemicals has to pass through different processes and different stages like Blow molding, cutting mixture, loader, hopper, extruder, stretching, sealing, gripping and take out mechanism.

 

In the first stage the raw material i.e. plastic granules, balls are passed on from raw material storage vessel to Hopper and from hoper to loader, the hopper machine is used for feeding the raw material to the extruders and the said extruder machine is used for melting and feeding the plastic granules to die-head of machine with required temperature and flow.

 

The die head machine is used for forming a hollow tube of melted plastic with desired equal wall thickness throughout dimeter of tube with most advanced moog thickness control system and the resultant formed hollow tube is called Parision and the bottom stop mechanism is used for setting and sensing required parision height of the article to be produced where as the mount clamping mechanism is used to mount the tow halves of mould and for clamping and opening mould purpose to form and eject required size articles.

 

Finally, Mould is used for required size and shaped articles depends upon machine capacity which is generally in two equal halves particularly for such a technology mounted on clamping mechanism plates. The main work of stretching and blowing unit is to clamping of parision between mould two halves by pressurized air of required pressure through blow pin until it conforms to the inner shapes of mould cavities of required shape and size.

 

The sealing, griping and take out devise is used for taking out the semi finished article after mould opening form mould cavity and for cutting and sealing parision for producing next article, where as finishing work will be done manually for removing small portion of additional plastic at bottom and top remains after sealing and cutting process.

 

Finally they said finished product i.e. Double L ring Drum, plastic pallet and other blow moulded articles as per the requirements of the customers or as per the order placed by them are ready. The printing of the firm’s logo along with required license no. ISI mark and other specifications will be done finally on finished product.

 

The finished product before its dispatch to the customers will be finally checked with testing machine for its quality, strength as per the norms to be set up by Mr. Hitesh Masrani. Hiteshbhai will also apply his inventive abilities to increasing the efficiency of each stage of the manufacturing process and its machinery.

 

 

TECHNICAL AND OTHER DETAILS:-

 

(1) TECHNOLOGY:

 

The indispensable requirement for manufacturing various types of HDPE two layer and three layer water tanks depends on high quality machines and advance technology. All technology proposed to be acquired by the firm is best mix of imported and indigenously available and is proven one in India. The overall machinery for manufacturing high quality unbreakable water tank which has been proposed to be installed and supplied by M/s. Qingdao Yankang Plastic Machinery Company Limited based at China is a renowned name world over for Three Layer Blow Moulding Machine with its various spares and tools. The said machinery will be installed and erected by the China based technicians and they will make arrangement with technical qualified staff of, who will provide well qualified technician for extensive training of about two weeks time to the employees of the firm who will look after the production processes. Apart from that the firm has also proposed to appoint one qualified technician to look after the production process to maintain quality and to see that the product passes through stringent quality parameters.

 

That apart few of the indigenous machineries like IME 160 Injection Moulding Machine with 50 MM screw barrel will be supplied by ESEM Engineers based at Ahmedabad, ACS-30 AIR COOL MODEL-Chilling Plant from Ami Cooling Systems, Ahmedabad, 5 TON Capacity Single Grider type EOT Crane from Canoist Engineers, Lubricated Two stage base plate mounted complete package Air Cooled Compressor Model 10-105T from Paras Compressor, Ahmedabad, Power Panel made from Siemens Amp will be supplied by Fintech Engineers, Ahmedabad, 630 KWA Distribution Transformer will be supplied by Electro Power Corporation based at Wadhwan. All the plant and machineries are from very reputed suppliers with proven satisfactory performance and are known for its trouble free working and long life as well as excellent after sales support. In fact couple of partners themselves are technically sound hence what is required is setting proper parameters to set up the project in time bound manner

 

 

2] QUALITY CONTROL ARRANGEMENT:

 

The greatest strength of the firm will be that where one partner himself is technically well versed, others have very good experience in the industry in terms of banking, finance and legal and knows all aspects of the business. In fact one can say that due to their steadfastness in maintaining policy in the market and commitments given to the suppliers, buyers, bankers etc., they can achieve the desired targets with much lower resources what others’ cannot achieve with much higher resources.

 

In fact there are only 7 units having said manufacturing facilities in the state of Gujarat and only 2 units located in the Saurashtra region but the technology with which the unit proposes to start its units will be the 2nd only next to Syntex Industries in the whole Gujarat State. The entire process of manufacturing the water storage tank is proposed to be set up with state of the art technology called extrusion Blow Moulding, the rarest technology used by any manufacturer across India and hence what is required is setting proper parameters to get maximum yield at the lower operating cost. These will not involve foreign collaboration or the service of any outside agency.

 

(3) INFRASTRUCTURE:

 

The firm has already purchased an industrial plot with sale deed price of around Rs.2.000 Millions at Revenue Survey No. 441/Paiki-2, Mouje:- Bhal gamda, At and Post:- Limbadi admeasuring about 10,000 Sq. yards, which does not include stamping, legal charges etc., Though, such land is shown as part of cost of project but the same has been purchased by partners capital. The location is the heart of industrial area in the district Surendranagar and well connected with road, rail and airport around and the nearby places.

 

All the infrastructure facilities, utilities and labour is easily available at the units premises and the unit will be in a best position to supply quality products at best competitive prices to variety of customers and hence the partner foresees no difficulty in manufacturing and supplying the their planned production of water tanks in desired time and schedule.

 

(4) UTILITIES:

 

(i) Power:- The required power supply of 275 KVA has been proposed from the State Electricity Supply. These 275 KVA power supply is sufficient to meet the electricity need of the proposed plant. The application for the said power supply has been made and the firm has already received the estimates of Rs.1.261 Millions from PGVCL, for the same which includes security deposit of Rs.0.945 Millions towards the same. Due to continuous and uninterrupted power supply the firm has not proposed any D G Set as of now. However, the transformer cost is separate which the partners have proposed to purchased from Wadhvan based company.

 

(ii) Water:- The unit has proposed to excavate own bore-well of 100 feet deep and 200 mm diameter to meet daily 3,000 liters water requirement for plant, cooling plant, process and normal human consumption by underground water bore-well. The manufacturing process of such water tank requires water requirement of around 3,000 liters per day, which will be easily available from own bore-well. The other normal human consumption water is also available from bore-well itself. The overall cost of boring is about Rs.0.300 Million but the same has been proposed to met by partners own fund and consequently the said amount does not form part of cost of project.

 

(iii) Pollution:- The unit will not generate any polluted effluent from the proposed activity and hence the permission of State Pollution Control Board is not required. A list of SSI Industry for which Pollution Control Certificate is not required as given by the State Pollution Control Board is attached for the perusal and reference. Pl. see item highlighted with water colour for ready reference.

 

(iv) Transportation:- Transportation is easily available at competitive rate as the site is located in the best developed industrial area in the district of Surendranagar and N.H of Rajkot-Ahmedabad, a well known four lane National Highway and is well connected with roads, railways and other transport facilities.

 

(v) Manpower:- Due to locational advantage Manpower will not be a problem and will be easily available. The total manpower required manufacturing facilities will be 53 persons out of which 28 will be in Production, 11 person in sales department and 14 in admin and office department.

 

 

PRODUCTS AND ITS USES:-

 

There are numerous applications of company’s products in various industry, infrastructure and household uses, to illustrate a few:

 

Nature of Industry

 

Applications

 

Agricultural Industry

 

To be used by different agriculrists for different uses like irrigation, waste water treatment, water storage etc.,

Infrastructure/ Civil work Industry

Now a days housing project are booming up and after the liberalized policy of Government for Infrastructure development for small town and cities and mega cities this HDPE water tanks are being used due to their durability and strength and trouble free flow. This industry uses it for multifarious applications like water supply, drainage systems, conceal water arrangements etc.,

Household Uses

 

Its plays vital role in household uses as day by day the awareness of people for using virgin products has been increased as conventional form of tanks which dust and impurities problems resulting into numerous expenses on regular basis

 

 

The firm has proposed to manufacture various shaped and size water storage tanks ranging between 200 Ltrs, 300 Ltrs, 400 Ltrs, 500 Ltrs, 750 Ltrs, 1000 Ltrs and 1200 Ltrs. The firm’s products will be having excellent market applications and it will be likely to grow over a period of time.

 

The partners and their team possesses deep knowledge of the HDPE water tanks in two layers and three layers in terms of products, their applications, life of products and price and hence the firm will be in a better position to offer excellent and quality water tanks and fittings at very competitive rates.

 

Since firm’s products have multifarious applications with renowned name ahead the product’s name it is not dependent on any particular industry or segment and the industry therefore is recession resistant.

 

 

MARKET POTENTIALS:-

 

With the advent of globalization in every field, this industry is poised to take off. Global demand is rising on the back of accelerated infrastructure and advanced agriculture activity in India, housing boom world over. There is a vast potential for growth of such water storage tanks with high quality and durability in the domestic market. Domestic consumers are becoming well aware of uses, life and benefits of the product the firm has proposed as compared to the conventional form of RCC and plastic tanks in the recent past. The recent trend clearly demonstrates the willingness of the consumer to pay more for good quality and safe, durable and trouble free life of water storage tanks, which is a very positive indicator for this industry. The firm has already registered its brand under Trademark and all the products of water tank will be sold under polo plus trade mark.

 

 

MARKET COMPETITION:-

 

Every industry has to face competition. The entry barriers are not there, however new entrants cannot survive easily as it is difficult to execute quality and durable and unbreakable as well water tanks in a given time frame at competitive rates. With experience and expertise in this industry, the partners will rise up to ranks of a solution architect and will be able to draw the blue prints and strategies of their prospective clients. In fact there are only 7 units having said manufacturing facilities in the state of Gujarat and only 2 units located in the Saurashtra region but the technology with which the unit proposes to start its units will be the 2nd only next to Syntex Industries in the whole Gujarat State. The product proposed by the firm is already available in the market, which is supplied by Syntex Industries under brand name of Roto Tough and backed by warranty period of 10 years. Thus, competition is very moderate.

 

India stands in the list of nations having lowest per capita consumption of high density and low-density polyurethane products in the world and has a lot of potential to improve. Over a last 30 years, India’s per capita consumption of high density and low-density polyurethane products has been increased four times. The plastic Industry is the core industry for the growth of nation as a whole.

 

In Developing Country, the per capita consumption of HDPE and PPE product is very low as compared to the developed industrialized nations. The scenario in India is very much similar. However, with whatever rate economy has been growing, demand of the said product will continue to increase and can be safely expected to show growing trend.

 

Overall Market Scenario of this industry is gradually improving and hence Mr. Hiteshbhai Masrani does not see any threat to the firm’s planned productions and growth plans. There is no international competition envisaged in view of the size of the market. The partners and their team have seen very bright future in this industry and with this vision they have also future plans to expand with other advance technology machines.

 

The success of the unit lies in the quality of work and timely completion of production jobs in cost effective manner. The partners of the firm are very committed to the work and are confident of growing their business at much faster pace.

 

As already mentioned earlier the core promoters of the project have already learned the fine prints of this business for about more than decade with management of overall productions, marketing, purchases, trading and administrative function and hence an established businessmen already with good market reputation and good contacts can open an array of new targets for themselves.

 

 

DEMAND VS SUPPLY:- Indian plastic industry

 

There is no comprehensive data available for the demand and supply position for the company’s products. However, considering the present trends the demand for the quality and durability of the water tanks, water storage solution which has definitely gone up and this is from the fact that the demand for the firm’s products will rise year by year as a result of increased awareness of environmental pollution and new regulations for protection of soil against effluents.

 

In the last two decades, the plastics industry in India has grown significantly to meet the ever-increasing demand from various user sectors. The Indian plastic industry maintained a healthy growth rate of 15% with a turnover of about Rs. 250000.000 Millions, capital investment of about Rs.350000.000 Millions and production (inclusive of all types of processed plastics) of 8 million tonnes. India has about 22,000 plastic processing units with a total production of nearly 3.7 million tonnes and a consumption of 3.4 million tonnes. It currently exports US$ 5.3 billion of finished plastic goods, which reflects a 15 per cent growth over last year.

 

As a result, India’s per capita consumption of plastics increased from 6 kgs in 2009 to 8 kgs in 2010 – significantly lower than the global average of 27 kgs – highlighting a huge growth opportunity over the coming years. The Indian plastics industry is expected grow to 1332450.000 Millions by 2015, positioning India as the third-largest plastics consumer up from the eighth position currently. The per capita plastics consumption at 8 kgs is expected to reach 20-25 kgs over the same period.

 

 

MARKETING ARRANGEMENT:-

 

India with second largest population in the world with growing purchasing power has largest consumer market in the world. Also as stated above there is growing demand of the product the firm has proposed to manufacture. The firm’s sales will be made through dealers, distributors and direct selling in the market. The 70% of the product selling takes place through dealers and distributors whereas 30% of the product selling takes place through direct selling. Normally, four distributors in Ahmedabad, Rajkot, Bhavnagar and Kutchh have been finalized to cover 26 districts of Gujarat.

 

The required negotiations are already underway with the well known distributors and dealers of Saurashtra and Gujarat region and the HDPE water storage tanks in two layer and three layers with the ISI mark and Trademark will definitely give the good credit among the other leading market players of the said products. The firm has already finalized various dealers and distributors and wholesalers to sell its product, the list of such 24 interested participants along with their contact nos and names is attached herewith.

 

 

12 MARKETING EDGE:-

 

As stated earlier the unit will have the following competitive advantages:

 

1. The manufacturing cost of HDPE tanks will be low as the partners who possess deep technical and business knowledge and experience of running the similar unit have proposed to set up the said unit.

 

2. Most of the applications of the firm’s products are substitutes for costlier materials like steel, iron, cement and other materials.

 

3. The unit will have access to the latest technology and the ability to develop application-engineering skills in line with the increased requirements.

 

4. As the firm will not only manufacture this water tanks but in very short time span after successful execution of this project the partners who have developed their own products in the said industry will launch new products which can be manufactured by the proposed machines itself and hence the unit will not face any recessionary trend by supplying only HDPE water tanks.

 

5. The partners are well versed with the consumer preferences and market mechanics of not only their region but of whole Saurashtra and Gujarat. The product selection and marketing strategy will be based on the past experience.

 

6. The unit will be in a commanding position to offer uninterrupted supply at consistent quality and competitive prices.

 

 

COST OF PROJECT AND MEANS OF FINANCE;

 

A. COST OF PROJECT

 

i) Land and Land development Exp.:- The firm has already purchased an industrial plot costing around Rs. 20.00 Lacs at Revenue Survey No. 441/Paiki-2, Mouje:- Bhal gamda, At and Post:- Limbadi admeasuring about 10,000 Sq. yards, which does not include stamping, legal charges etc., Though, such land is shown as part of cost of project but the same has been purchased by partners capital and hence the same is free to be offered as collateral security.

 

ii) Building and Civil Construction:- The total civil construction of factory building and shed is around 9600 Sq. Feet which includes factory shed, Bore-well and pump room, godown and other required construction like storage room, QC cabin, Office premises, Loading and unloading platform etc., The same building including other super structure and ancillary construction like office and other parts of premises. The overall construction may be around 20,000 Sq. feet at the cost of Rs.13.786 Millions as per the construction estimates given by Civil engineers M/s. Jayesh and Company, based at Surendranagar. As the entire building cost is proposed to be met out from partners capital and unsecured loans of family members which can be treated as quasi capital and the same is free to be offered as collateral security.

 

iii) Plant and Machinery; The overall machinery for manufacturing high quality unbreakable water tank which has been proposed to be installed and supplied by M/s. Qingdao Yankang Plastic Machinery Company Limited based at China at the cost of Rs.46.863 Millions, the imported one. That apart few of the indigenous machineries like IME 160 Injection Moulding Machine with 50 MM screw barrel will be supplied by ESEM Engineers based at Ahmedabad, ACS-30 AIR Cool Model-Chilling Plant from Ami Cooling Systems, Ahmedabad, 5 TON Capacity Single Grider type EOT Crane from Canoist Engineers, Lubricated Two stage base plate mounted complete package Air Cooled Compressor Model 10-105T from Paras Compressor, Ahmedabad, Power Panel made from Siemens Amp will be supplied by Fintech Engineers, Ahmedabad, 630 KWA Distribution Transformer will be supplied by Electro Power Corporation based at Wadhwan, the cost of which will be around Rs.7.360 Millions.

 

iv) GEB Deposits and Other exp; The firm has applied towards power connection re supply to PGVCL for 275 KVA to meet the electricity need of the proposed plant with an estimate of Rs. 1.076 Million from PGVCL, for the same which includes security deposit of Rs. 0.945 Million towards the same. However, the transformer cost is separate which the partners have proposed to purchased from Wadhvan based Company

 

v) Furniture, Fixtures and Computer; is estimated at about Rs.1.403 Millions which includes Rs.0.790 Million towards furniture and fixture cost for meeting exp. Of air conditioners of Rs.0.239 Million as per the estimates of Airco Sales and other furniture as per the quotation of Rs.0.539 Million of M/s. Rangoli Furniture where as cost of Rs.0.613 Million has been proposed to purchase the various computers systems as per the quotation of M/s. TRIO Computers.

 

viii) Provision for Contingencies; is estimated roughly about 0.298 Million. It is estimated to meet unforeseen changes in the taxes, legal, stamping, consulting charges and subsequently at the final implementation of the project the same will be capitalized.

 

ix) Working Capital Margin; The gross working capital requirement as per the Eight Months estimates of 2012-13 at 50% operating capacity will be around Rs.26.937 Millions out of which current liabilities will be around Rs. 10.162 Million and working capital margins are envisaged of Rs.6.700 Millions and the bank borrowing requested is Rs.10.000 Millions to meet mainly towards raw material purchase, against finished stock and receivables.

 

 

B. MEANS OF FINANCE:

 

i) Partners’ Capital:- The overall cost of project worked out to Rs.79.486 Millions including working capital margins of Rs.6.700 Millions and the said cost will be met by Partners’ Capital to the extent of Rs.30.000 Millions which shall be infused by the partners to meet the margin requirements. As on 31st March 2012, the partners have already brought in the funds to the tune of Rs.12.800 Millions as their margins.

 

ii) Unsecured Loan/ Quasi Capital:- The partners have proposed to infuse the unsecured loans from family members to the extent of about Rs.12.986 Millions which will be termed as quasi capital and will form part of the capital and margin money, however with the stipulation and undertaking that the said loans shall be maintained at the said level till the tenure of term loan.

 

iii) Term Loan from Bank; The firm has proposed term loan of Rs.36.500 Millions from bank to meet the balance cost of project. The said term loan has been proposed at interest rate of 14.5% per annum with initial moratorium of six (6) months and thereafter repayment to be made in 54 installments. Thus, the bank finance will be around 50.14% of the total cost of the project excluding working capital margins.

 

COMMENTS ON PROFITABILITY:

 

i) Production and Sales estimates and basis for arriving at the same:- The production and sales estimates are taken on very conservative side considering the present orders on hand, increasing demand for firm’s product in the domestic market and the general perceptions of the promoters of the firm. The promoters have made complete arrangement of sale of the entire production.

 

ii) Operating Profit/ Gross Margins; Based on the past trends in the industry and general perception of the promoters along with wide acceptance and growing demand of the product of the firm in the Saurashtra and Gujarat Region and in view of the acceptability of the quality products by the broader customer, the unit has proposed the gross margins of about 15% to 17%, which is estimated on conservative basis and partners will not face any difficulty in achieving the desired margins.

 

iii) TOL / TNW; The ratio of TOL/TNW is not increasing during the tenure of the term loan and it is well within the accepted level of 3. While calculating the TNW the partner’s Capital including Unsecured Loan of Family member is considered as part of Net Worth of the Unit.

 

 

SECURITY:

 

The following security will be offered to secure the total loan requirement of Rs.46.500 Millions. The firm has proposed to avail Term Loan of Rs.36.500 Millions and Working Capital Requirement of Rs.10.000 Millions based full year of projections of 2012-13 of the Cost of Project, projected working and present market position.

 

A) PRIMARY:-

 

The firm will offer the Plant and Machinery as primary security the landed price of which will be around Rs.54.222 Millions. Hence to secure the term loan of Rs.36.500 Millions the firm offers primary security of approx. Rs.54.200 Millions. The firm will offer first and exclusive charge over stock, book debts and other moveable and current assets of the firm aggregating around Rs.25.784 Millions (based on the projection of the first full year viz., 2012-13) to secure the cash credit limit of Rs.10.000 Millions.

 

B) COLLATERAL:-

 

The firm will offer freehold factory Land situated at Survey No. 441/Paiki-2, Mouje:- Bhal gamda, At and Post:- Limbadi admeasuring around 10,000 Sq. mtrs the market value of which will be around Rs.3.000 Millions in the name M/s. Polo Plus Containers along with newly constructed factory Building at Revenue Survey No. 441/Paiki-2, Mouje:- Bhal gamda, At and Post:- Limbadi having civil construction of around 20,000 Sq. Feet.

 

The firm will offer GIDC Factory Land and Building located at plot no. 139/3-4, GIDC, Limbadi admeasuring about 1408 Sq. Mtrs and having construction of around 920 sq. mtrs in the name of Mr. Hiteshbhai Masrani.

 

The firm will offer commercial shop no. A/2 and 3, S.N. 2429, 2430 at Balkrushna Market, A D Jain Road, Limbadi, Surendranagar admeasuring 310 Sq. Feet in the name of Mr. Hiteshbhai Masrani.

 

The residential flat located at S/4, New Jalcon Aptts, Near Sarita School, Vejalpur, Ahmedabad adeasuring 140 Sq. yards in the name of Mr. Kishorbhai Davda. The Resi. Bungalow situated at 40/B, Yogeshwar Park Society, Nr. Tapovan Society, 80 feet road, Surendranagar having plot size of 85.18 Sq. mtrs and construction of around 180 Sq. yards having approximately market value of Rs.7.000 Millions in the name of Mrs. Nehaben Masrani.

 

The resi. Bungalow situated at 9, Yasheshwar Society, Opposite College, Limbadi, District Surendranagar having plot size of 266.36 Sq. mtrs and construction of around 350 Sq. yards in the name of Smt. Indumatiben Dhirajlal Masrani.

 

The firm will offer GIDC Factory Land and Building, located at plot no. 139/10, GIDC, Limbadi admeasuring about 704 Sq. Mtrs and having construction of around 420 sq. mtrs., in the name of Mrs. Indumatiben Dhirajlal Masrani.

 

The resi. Bungalow situated at S. No. 47/2, Plot No. 2, at Shivashish Soc, Nr. Doctor Mair Hospital, Tal:- Limbadi, District Surendranagar having plot size of 307 Sq. Mtrs and construction of around 240 Sq. Mtrs in the name of Mrs. Rasikba Hitendrasinh Rana.

 

 

C) PERSONAL GUARANTEE:-

 

The personal Guarantee of all the four partners and three additional guarantors will be offered, the total net worth of all of them will be around Rs.103.900 Millions.

 

 

 

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.54.55

UK Pound

1

Rs.85.48

Euro

1

Rs.68.70

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIT

 

 

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.