MIRA INFORM REPORT

Report Date :

03.12.2014

IDENTIFICATION DETAILS

Name :	KHUSHBU INDUSTRIES PRIVATE LIMITED

Registered Office :	Plot No. 20, 21, 22, 23, Block No. 290, At/Post Zak Vehlal Road, Taluka Dehgam, District Gandhinagar – 382330, Gujarat

Country :	India

Date of Incorporation :	15.09.2014

Com. Reg. No.:	04-080787

Capital Investment / Paid-up Capital :	Rs. 0.100 Million

CIN No.: [Company Identification No.]	U27100GJ2014PTC080787

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AAFCK6404N

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturing of Steel Wire from Steel Rods with different Gages which are used in various industrial product and hardware items mainly in Modern kitchen Baskets and many more.

No. of Employees :	18 (3 in Office and 15 in Factory) (Approximately)

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

New Business

Status :	New Business

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is a new company incorporated during 15^th September 2014 and it is establishing itself gradually. Mr. Laxmanbhai Mangaji Patel, Director has provided general information to us and claimed that company has started its commercial operation from 15^th November 2014. However, trade relations are improving. Business is active. Payments are reported to be unknown. The company can be considered for business dealings on safe and secured trade terms and conditions.

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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

India

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

INDIAN ECONOMIC OVERVIEW

N E W S

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that it had willfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

NOT AVAILABLE

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Laxmanbhai Mangaji Patel
Designation :	Director
Contact No.:	91-9825328871
Date :	01.12.2014

LOCATIONS

Registered Office/ Factory :	Plot No. 20, 21, 22, 23, Block No. 290, At/Post Zak Vehlal Road, Taluka Dehgam, District Gandhinagar – 382330, Gujarat, India
Tel. No.:	91-79-22772030/ 30417514
Mobile No.:	91-9825328871 [Mr. Laxmanbhai Mangaji Patel]
Fax No.:	Not Available
E-Mail :	cajaimin88@gmail.com laxman.kipl@gmail.com
Area :	4700 Sq. Yards [Approx.]
Location :	Owned

NOTE:

The factory Shed in Plot No. 22 and 23 is owned by Mr. Laxmanbhai Mangaji Patel Director of the Company and Open Land of Plot No. 20 and 21 is owned by Mrs. Bhaviben Laxmanbhai Patel and all manufacturing activities are carried on the same.

DIRECTORS

AS ON 23.08.2014

Name :	Mr. Laxmanbhai Mangaji Patel
Designation :	Director
Address :	A-43, Keshavpark Society, Vastaral, Ahmedabad - 382418, Gujarat, India
Date of Birth/Age :	01.06.1975
Qualification :	SSC
Experience :	15 Years Mr. Laxmanbhai is in the same line of activity since 1998. He is having good reputation in steel wire industry in Rakhial area, Ahmedabad. His trading Firm Laxmi Metal is situated in Rakhial, and famous for all grades of s.s. wire in Ahmedabad. He has wide range of market in the Particular industry.
Date of Appointment :	15.09.2014
PAN No.:	AHJPP0643G
Passport No.:	J3645882
Voter ID No.:	AGN1460773
Brief History :	Mr. Laxmanbhai Mangaji Patel is the sole Proprietor of Laxmi Metal and Partner in Khushbu Enterprise. He started his trading Business carrier in the year 1998 in the rented premises. Up till now, he just runs his business as trading concern. Since the growth is right of every human being, he started his manufacturing activity by which he produces Different grads of stainless steel wire (which he usually trades) from stainless steel roads for which required land, building, machinery etc. has already been purchased by him. And want to start its production in larger scale to achieve maximum profit from its investments. Mr. Laxmanbhai is having sound knowledge in stainless steel wire industry and understand the business well. His Laxmi Metal shop in the Rakhial steel market is famous in Ahmedabad. His last ten years growth advocates him as successful businessman as he acquired approx. 2.75 crores property without any bank finance. His trading business is mainly on cash basis. Moreover strong dedication or growth of business. Focus in the same line of business activity is more important for him to achieve his target. In consideration of above facts, he opened new company named "KHUSHBU INDUSTRIES PRIVATE LIMITED" in which he is the Director of the company for conducting his manufacturing activity.
DIN No.:	06905372

Name :	Mrs. Bhaviben Laxmanbhai Patel
Designation :	Director
Address :	A-43, Keshavpark Society, Vastaral, Ahmedabad - 382418, Gujarat, India
Date of Birth/Age :	14.06.1980
Qualification :	8^th Std.
Experience :	2 Years Mrs. Bhaviben is the partner in Khushbu Enterprise trading Firm of the Directors. She is Mainly taken care of Financial Part of the Company.
Date of Appointment :	15.09.2014
PAN No.:	BAKPP2226C
Voter ID No.:	AGN1460781
Brief History :	Mrs. Bhaviben Laxmanbhai Patel is the wife of Laxmanbhai Patel. She is one of the partners of Khushbu Enterprise. She is mainly taken care of the financial part of the business. In consideration of above facts, he opened new company named “KHUSHBU INDUSTRIES PRIVATE LIMITED" in which she is conducting his manufacturing activity. Thus, "KHUSHBU INDUSTRIES PRIVATE LIMITED" proposed to seek Cash Credit of '25.000 Millions from Bank, Out of which the Director of the Company is ready to Mortgage Plot No. 20, 21, 22, 23 in the favor of Bank having total area 4600 sq. yards (Approx.)* Rs. 6000 per Sq yards = 27.500 Millions in total value of Plot in addition with the construction cost incurred in Plot No. 22, 23 which is also estimated around 2.000 Millions in total 29.500 Millions value of Property.
DIN No.:	06911675

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 23.08.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Laxmanbhai Mangaji Patel	5000	50.00
Bhaviben Laxmanbhai Patel	5000	50.00

Total	10000	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing of Steel Wire from Steel Rods with different Gages which are used in various industrial product and hardware items mainly in Modern kitchen Baskets and many more.

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Available

Imports :	Not Available

Terms :
Selling :	Credit [45 Days]

Purchasing :	Cash

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Available
Name of the Person (Designation):	Not Available
Contact Number:	Not Available
Since how long known:	Not Available
Experience:	Not Available
Maximum limit dealt:	Not Available

Customers :

Wholesalers [However retail Counter may be opened by company.]

Reference:	Not Available
Name of the Person (Designation):	Not Available
Contact Number:	Not Available
Since how long known:	Not Available
Experience:	Not Available
Maximum limit dealt:	Not Available

No. of Employees :

18 (3 in Office and 15 in Factory) (Approximately)

Bankers :

Bank Name:	Not Available
Branch:	Not Available
Person Name (with Designation):	Not Available
Contact Number:	Not Available
Name of Account Holder:	Not Available
Account Number:	Not Available
Account Since (Date/ Year of A/c Opening):	Not Available
Average Balance Maintained (Optional):	Not Available
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Available
Account Operation:	Not Available
Remarks: Not Available

Facilities :


Banking Relations :	--

Auditors :	Not Available

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount

10000	Equity Shares	Rs. 10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10000	Equity Shares	Rs. 10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

NEW BUSINESS

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	No
12]	Profitability for last three years	No
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	No
24]	Banking facility details	No
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	No
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	No

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

COMPUTATION OF TOTAL INCOME

MR. LAXMANBHAI MANGAJI PATEL

[PROP. OF LAXMI METAL CORPORATION]

[RS. IN MILLIONS]

PARTICULARS

2011-2012

INCOME FROM BUSINESS OR PROFESSIONS

1. Prop. of Laxmi Metal Corporation

0.230

Net Profit / (Loss) as per Profit and Loss Account

Add: Depreciation as per book

0.010

Less: Depreciation as per rules

0.010

Total

0.230

2. Income received from Partnership Firms

1. Khushbu Enterprise

Share Income [50.00% of shares]

0.000

Add: Interest

0.009

Add: Salary

0.191

Net Total Income

0.200

Total Business Income

0.430

Business or Profession

0.430

GROSS TOTAL INCOME

0.430

Deduction [Chapter VI A] u/s 80

Under Section		Gross Amount	Qual Amount	Deduction

80C	Investments in LIP, PF, PPF etc.	0.110	0.110	0.100

	List of Investments
	- Life Insurance Policy		0.110

	Total		0.110

Deduction

0.100

Net Income after Deduction

0.330

Net Income [Rounded Off + 6]

0.330

COMPUTATION OF TAX LIABILITY

Tax on taxable Income [Rs. 0.330 Million] at normal rate

0.015

Add: Education Cess @ 2%

0.001

Add: SHE Cess @ 1%

0.000

Tax Liability

0.016

Add: Interest u/s 234A

0.002

Interest u/s 234B

0.003

Interest u/s 234C

0.000

0.005

Tax with Interest

0.021

Tax Payable [Rounded] [+5]

0.021

Self-Assessment Tax paid on date 28.09.2013 at State Bank of India

0.021

Tax to Pay/ Refund

0.000

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

COMPUTATION OF TOTAL INCOME

MRS. BHAVIBEN LAXMANBHAI PATEL

[RS. IN MILLIONS]

PARTICULARS

2010-2011

INCOME FROM BUSINESS OR PROFESSIONS

1. Income received from Partnership Firms

Particulars	% Share	Interest	Salary	Expenses	Share	Total
Khushbu Enterprise 114/1, Vishal Compound, Opposite Jamnagar Transport, Odhav	50.00	0.049	0.438	0.000	0.000	0.487

Total		0.049	0.438	0.000	0.000	0.487

Net Total Income

0.487

Total Business Income

0.487

Business or Profession

0.487

GROSS TOTAL INCOME

0.487

Deduction [Chapter VI A] u/s 80

Under Section		Gross Amount	Qual Amount	Deduction

80C	Investments in LIP, PF, PPF etc.	0.026	0.026	0.026

	List of Investments
	- Life Insurance Policy		0.026

	Total		0.026

Deduction

0.026

Net Income after Deduction

0.461

Net Income [Rounded Off +4]

0.461

COMPUTATION OF TAX LIABILITY

Tax on taxable Income [Rs. 0.461 Million] at normal rate

0.027

Add: Education Cess @ 2%

0.001

Add: SHE Cess @ 1%

0.000

Tax Liability

0.028

Add: Interest u/s 234A

0.002

Interest u/s 234B

0.004

Interest u/s 234C

0.001

0.007

Tax with Interest

0.035

Tax Payable [Rounded] [+5]

0.035

Self-Assessment Tax paid on date 30.03.2012 at State Bank of India

0.035

Tax to Pay/ Refund

0.000

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

COMPUTATION OF TOTAL INCOME

MR. LAXMANBHAI MANGAJI PATEL [HUF]

[PROP. OF LAXMI METAL]

[RS. IN MILLIONS]

PARTICULARS

2012-2013

INCOME FROM BUSINESS OR PROFESSIONS

1. Prop. of Laxmi Metal

0.450

Net Profit / (Loss) as per Profit and Loss Account

Add: Depreciation as per book

0.023

Less: Depreciation as per rule

0.023

Total

0.450

Total Business Income

0.450

Business or Profession

0.450

GROSS TOTAL INCOME

0.450

Deduction [Chapter VI A] u/s 80

Under Section		Gross Amount	Qual Amount	Deduction

80C	Investments in LIP, PF, PPF etc.	0.118	0.118	0.100

	List of Investments
	- Life Insurance Policy		0.118

	Total		0.118

Deduction

0.100

Net Income after Deduction

0.350

Net Income [Rounded Off + 3]

0.350

COMPUTATION OF TAX LIABILITY

Tax on taxable Income [Rs. 0.350 Million] at normal rate

0.015

Add: Education Cess @ 2%

0.001

Add: SHE Cess @ 1%

0.000

Tax Liability

0.016

Add:

Interest u/s 234B

0.001

Interest u/s 234C

0.000

0.001

Tax with Interest

0.017

Tax Payable [Rounded] [+2]

0.017

Self-Assessment Tax paid on date 28.09.2013 at State Bank of India

0.017

Tax to Pay/ Refund

0.000

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

CALCULATION OF INTEREST SERVICE COVERAGE RATIO

[RS. IN MILLIONS]

PARTICULARS	2015 Estimates	2016 Projection	2017 Projection	2018 Projection	2019 Projection

Profit after tax	3.604	20.373	25.879	33.068	36.905

Depreciation	0.750	0.638	0.542	0.461	0.392

Interest on Term Loan	--	--	--	--	--

Interest on Working Capital	1.750	3.500	3.500	3.500	3.500

TOTAL	6.104	24.511	29.921	37.029	40.797

DEBT AND INTEREST TO SERVE
Other Loan interest	--	--	--	--	--

Term Loan interest	--	--	--	--	--

Interest on Working Capital	1.750	3.500	3.500	3.500	3.500

TOTAL	1.750	3.500	3.500	3.500	3.500

ISCR	3.49	7.00	4.73	10.58	11.66

Average ISCR	38.99

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

CALCULATION OF IRR

[RS. IN MILLIONS]

PARTICULARS	2015 Estimates	2016 Projection	2017 Projection	2018 Projection	2019 Projection

Share Capital	0.100	0.100	0.100	0.100	0.100

Securities Premium	4.900	4.900	4.900	4.900	4.900

Reserves	3.604	23.976	49.855	82.923	119.828

Long term loan	4.500	4.500	4.500	4.500	4.500

Total Long term Funds	13.104	33.476	59.355	92.423	129.328

Intangible Assets	--	--	--	--	--

Net Capital Employed	13.104	33.476	59.355	92.423	129.328

Profit before Interest and Taxation	9.965	37.983	48.451	61.355	68.408

IRR	76.05%	113.46%	81.63%	66.39%	52.90%

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

CALCULATION OF WORKING CAPITAL REQUIREMENT

[RS. IN MILLIONS]

SR. NO.	PARTICULARS	2015 Estimates	2016 Projection	2017 Projection	2018 Projection	2019 Projection

1	Stock in trade	27.094	31.299	36.390	41.866	44.886

2	Debtors	8.190	10.109	24.624	29.220	31.920

3	Net assets	35.284	41.408	61.014	71.086	76.806

4	Less: Creditors	0.000	0.000	0.000	0.000	0.000

5	Net Working Capital Gap	35.284	41.408	61.014	71.086	76.806

6	Bank Cash Credit	20.321	23.474	27.293	31.400	33.665

7	Finance against Book Debts	4.914	6.065	14.774	17.532	19.152

8	Maximum permissible Finance	25.235	29.540	42.067	48.932	52.817

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

PROJECTED BALANCE SHEET

[RS. IN MILLIONS]

SR. NO.	PARTICULARS	2015 Estimates	2016 Projection	2017 Projection	2018 Projection	2019 Projection

	LIABILITIES
1	Capital	5.000	5.000	5.000	5.000	5.000

2	Reserves and Surplus	3.604	23.976	49.855	82.923	119.828

3	Unsecured Loans
	- From Family Members and Relatives	4.500	4.500	4.500	4.500	4.500

	- From Others	0.000	0.000	0.000	0.000	0.000

	- Deferred Tax Liability	0.000	0.000	0.000	0.000	0.000

4	Secured Loans
	- Term Loans	0.000	0.000	0.000	0.000	0.000

	- Cash Credit	25.000	25.000	25.000	25.000	25.000

5	Current Liabilities
	Creditors	0.000	0.000	0.000	0.000	0.000

	Other Liabilities [Term Loan installment due within 1 year]	0.000	0.000	0.000	0.000	0.000

6	Provisions
	Income Tax Provision	1.611	9.110	11.572	14.787	16.503

	TOTAL	39.715	67.587	95.927	132.210	170.831

	ASSETS
1	Fixed Assets [Gross Block]	5.000	5.000	5.000	5.000	5.000

	Less: Depreciation	0.750	1.388	1.930	2.391	2.783

	Net Block	4.250	3.612	3.070	2.609	2.217

2	Investments	--	--	--	--	--

3	Current Assets
A	Inventory
	Raw Material Indigenous	0.000	0.000	0.000	0.000	0.000

	Raw Material Imported	27.094	31.299	36.390	41.866	44.886

	Finished Goods	0.000	0.000	0.000	0.000	0.000

B	Sundry Debtors	8.190	10.109	24.624	29.220	31.920

C	Other Current Assets	0.000	0.000	0.000	0.000	0.000

D	Cash and bank Balance	0.181	22.567	31.843	58.515	91.808

4	Security Deposits with Torrent	0.000	0.000	0.000	0.000	0.000

5	Other Assets, if any	0.000	0.000	0.000	0.000	0.000

	TOTAL	39.715	67.587	95.927	132.210	170.831

	Debt Equity Ratio	1.91	0.75	0.42	0.27	0.19

	Debt Equity Ratio with unsecured loan	2.25	0.88	0.50	0.32	0.23

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

PROJECTED PROFITABILITY STATEMENT

[RS. IN MILLIONS]

PARTICULARS	2015 Estimates	2016 Projection	2017 Projection	2018 Projection	2019 Projection

Capacity Utilization	70.00%	80.00%	90.00%	100.00%	100.00%

Sales	122.850	303.264	369.360	442.800	478.800

Raw Material Consumption	133.110	256.320	307.800	363.600	387.100

Light/ Power	1.958	4.032	5.184	6.480	7.020

Acid and other manufacturing cost	0.391	0.864	1.134	1.440	1.620

Labour	1.566	3.168	4.050	5.040	5.580

Administration Expenses	1.421	2.736	4.050	5.400	6.300

Other Expenses	0.783	1.728	3.240	4.500	5.400

Depreciation	0.750	0.638	0.542	0.461	0.392

Total Cost	139.979	269.486	326.000	386.921	413.412

Add: Opening Stock	--	27.094	31.299	36.390	41.866

Sub-total	139.979	296.580	357.299	423.311	455.278

Less: Closing Stock of raw material/WIP/ finished goods	27.094	31.299	36.390	41.866	44.886

Cost of Sales	112.885	265.281	320.909	381.445	410.392

Profit before Interest and Tax	9.965	37.983	48.451	61.355	68.408

Interest on Term loan	--	--	--	--	--

Interest on CC	1.750	3.500	3.500	3.500	3.500

Profit before Directors remuneration	8.215	34.483	44.951	57.855	64.908

Directors remuneration	3.000	5.000	7.500	10.000	11.500

Profit before tax	5.215	29.483	37.451	47.855	53.408

Current Tax	1.611	9.110	11.572	14.787	16.503

Deferred tax	--	--	--	--	--

Profit after Tax	3.604	20.373	25.879	33.068	36.905

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

PROJECTED CASH FLOW STATEMENT

[RS. IN MILLIONS]

PARTICULARS	2015 Estimates	2016 Projection	2017 Projection	2018 Projection	2019 Projection

Profit after Tax	3.604	20.373	25.879	33.068	36.905

Provision for Depreciation	0.750	0.638	0.542	0.461	0.392

Equity Share Capital	--	--	--	--	--

Securities Premium	--	--	--	--	--

Increase in Unsecured Loans	--	--	--	--	--

Term loan	--	--	--	--	--

Increase in Working Capital Loans	25.000	0.000	0.000	0.000	0.000

Increase in bank LC	--	--	--	--	--

Decrease in Preliminary Expenses	--	--	--	--	--

Income Tax provision	1.611	7.499	2.462	3.215	1.716

TOTAL	30.965	28.510	28.883	36.744	39.013

Increase in fixed assets	--	--	--	--	--

Decrease in term loans	--	--	--	--	--

Increase in inventory	27.094	4.205	5.091	5.476	3.020

Increase in debtors	8.190	1.919	14.515	4.596	2.709

Income tax	--	--	--	--	--

Increase in preliminary expenses	--	--	--	--	--

TOTAL	35.284	6.124	19.606	10.072	5.720

Opening Cash Balance	4.500	0.181	22.567	31.843	58.515

Surplus/ (Deficit)	(4.319)	22.386	9.277	26.672	33.293

Closing Cash Balance	0.181	22.567	31.843	58.515	91.808

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

CREDIT FACILITIES [PROPOSED]

[RS. IN MILLIONS]

TYPE OF FACILITIES	AMOUNT IN MILLIONS	PURPOSE FOR WHICH REQUIRED	SECURITY OFFERED
			PRIMARY SECURITY [DETAILS WITH APPROX. VALUE TO BE MENTIONED]	WHETHER COLLATERAL SECURITY OFFERED [PLEASE MENTION YES OR NO]

Cash Credit	25.000	Business	Stock, Book Debt	Yes

Term Loan	--	--	--	Yes / No

LC / BG	--	--	--	Yes / No

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

COLLATERAL SECURITY OFFERED

[RS. IN MILLIONS]

PARTICULARS	AMOUNT IN MILLIONS

Primary Security Stock and Book Debts created through Bank Finance	--

Collateral Security Plot No. 20, 21, 22, 23, Block No. 290, Zak, Taluka Dehgam, District Gandhinagar is belonging to Directors of the Company and Approx. Market Value is Rs. 27.500 Millions. Directors are ready to Mortgage in the favor of Bank against the Finance of Rs. 25.000 Millions Cash Credit as Collateral Security	25.000

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

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2015 Estimates	2016 Projection	2017 Projection	2018 Projection	2019 Projection

1	GROSS SALES
	Domestic Sales	122.850	303.264	369.360	442.800	478.800

	Other Sales	0.000	0.000	0.000	0.000	0.000

	Total Sales	122.850	303.264	369.360	442.800	478.800

2	Less: Excise Duty/ Sales Tax	0.000	0.000	0.000	0.000	0.000

3	NET SALES	122.850	303.264	369.360	442.800	478.800

4	% age rise (+) or fall (-)	0.00	146.86	21.79	19.88	8.13

5	COST OF SALES
	i. Raw Material [Including Store and Other]
	- Raw Material consumed	133.110	256.320	307.800	363.600	387.100

	- Manufacturing Cost	0.391	0.864	1.134	1.440	1.620

	ii. Consumables and Labour and Electricity etc.
	- Labour	1.566	3.168	4.050	5.040	5.580

	- Electricity Power	1.958	4.032	5.184	6.480	7.020

	iii. Administrative Charges	--	--	--	--	--

	iv. Annual Plant maintenance expenses	--	--	--	--	--

	v. Depreciation	0.750	0.638	0.542	0.461	0.392

	vi. SUB-TOTAL	137.775	265.022	318.710	377.021	401.712

	vii. Add: Opening Stock of WIP	0.000	27.094	31.299	36.390	41.866

	viii. SUB-TOTAL	137.775	292.116	350.009	413.411	443.578

	ix. Less: Closing Stock of WIP	27.094	31.299	36.390	41.866	44.886

	x. Cost of Production	110.681	260.817	313.619	371.545	398.692

	xi. Add: Opening Stock of Finished Goods	0.000	0.000	0.000	0.000	0.000

	SUB-TOTAL [x + xi]	110.681	260.817	313.619	371.545	398.692

	xii. Less: Closing Stock of Finished Goods	0.000	0.000	0.000	0.000	0.000

	xiii. COST OF GOODS SOLD	110.681	260.817	313.619	371.545	398.692

	GROSS PROFIT	12.169	42.447	55.741	71.255	80.108

6	Selling, General and Administrative Expenses
	- Selling and Misc. Expenses	0.783	1.728	3.240	4.500	5.400

	- Administrative Expenses	1.421	2.736	4.050	5.400	6.300

	- Preliminary Expenses	0.000	0.000	0.000	0.000	0.000

	SUB-TOTAL	2.204	4.464	7.290	9.900	11.700

	SUB-TOTAL	112.885	265.281	320.909	381.445	410.392

	Operating Profit before interest	9.965	37.983	48.451	61.355	68.408

7	Interest
	- To bank	1.750	3.500	3.500	3.500	3.500

	- On term loans	0.000	0.000	0.000	0.000	0.000

	- To others	0.000	0.000	0.000	0.000	0.000

	SUB-TOTAL	1.750	3.500	3.500	3.500	3.500

8	Operating profit after interest	8.215	34.483	44.951	57.855	64.908

9	Other Income/ Expenses
	a. Income	0.000	0.000	0.000	0.000	0.000

	Less: b. Expenses Directors Remuneration	3.000	5.000	7.500	10.000	11.500

	c. Investment Allowance	0.000	0.000	0.000	0.000	0.000

	Sub-total of other income/expenses	(3.000)	(5.000)	(7.500)	(10.000)	(11.500)

10	Profit before Tax / Loss	5.215	29.483	37.451	47.855	53.408

11	Provision for Tax
	Current Tax	1.611	9.110	11.572	14.787	16.503
	Deferred Tax	0.000	0.000	0.000	0.000	0.000

12	Net Profit/ (Loss)	3.604	20.373	25.879	33.068	36.905

13	Dividend / Withdrawals	0.000	0.000	0.000	0.000	0.000

14	Retained Profit	3.604	20.373	25.879	33.068	36.905

	Retained Profit / Net Profit %	100.00	100.00	100.00	100.00	100.00

15	Depreciation and IAR	0.750	0.638	0.542	0.461	0.392

16	Preliminary Expenses w/o	0.000	0.000	0.000	0.000	0.000

17	Cash Accruals [14 + 15 + 16]	4.354	21.011	26.421	33.529	37.297

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

ANALYSIS OF BALANCE SHEET

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2015 Estimates	2016 Projection	2017 Projection	2018 Projection	2019 Projection

	CURRENT LIABILITIES
1	Short term borrowings from bank (incl. Bills purchased, discounted and excess borrowings placed on repayment basis)
	(i) From applicant bank	25.000	25.000	25.000	25.000	25.000
	(ii) From other banks	--	--	--	--	--
	(iii) of which BP and BD	--	--	--	--	--

	SUB-TOTAL	25.000	25.000	25.000	25.000	25.000

2	Short term borrowings from others
	Sundry Creditors for Capital Goods	--	--	--	--	--

3	Sundry Creditors	0.000	0.000	0.000	0.000	0.000

4	Advance payments from customers	--	--	--	--	--

5	Provision for Taxation	--	--	--	--	--

6	Dividend Payable	--	--	--	--	--

7	Other Statutory Liabilities	--	--	--	--	--

8	Instalments of Term Loan due within next of 12 Months	0.000	0.000	0.000	0.000	0.000

9	Other Current Liabilities and Provisions	0.000	0.000	0.000	0.000	0.000

	SUB-TOTAL	0.000	0.000	0.000	0.000	0.000

10	TOTAL CURRENT LIABILITIES	25.000	25.000	25.000	25.000	25.000

	TERM LIABILITIES
11	Debentures	--	--	--	--	--

12	Redemption Preference Shares	--	--	--	--	--

13	Term Loans	0.000	0.000	0.000	0.000	0.000

14	Car Finance	0.000	0.000	0.000	0.000	0.000

15	Term Deposits/ Unsecured Loans	4.500	4.500	4.500	4.500	4.500

16	Other Term Liabilities	0.000	0.000	0.000	0.000	0.000

17	TOTAL TERM LIABILITIES	4.500	4.500	4.500	4.500	4.500

18	TOTAL OUTSIDE LIABILITIES	29.500	29.500	29.500	29.500	29.500

	NET WORTH
19	Share Capital	5.000	5.000	5.000	5.000	5.000

20	General Reserve	--	--	--	--	--

21	Development Rebate Reserve	--	--	--	--	--

22	Other Reserve Subsidy	--	--	--	--	--

23	Surplus (+) or deficit (-) in Profit & Loss Account	3.604	23.976	49.855	82.923	119.828

24	TOTAL NETWORTH	8.604	28.976	54.855	87.923	124.828

25	TOTAL LIABILITIES	38.104	58.476	84.355	117.423	154.328

	CURRENT ASSETS
26	Cash & Bank balances	0.181	22.567	31.843	58.515	91.808

27	Investments
	a. Government and Others	--	--	--	--	--

	b. Fixed Deposits with banks	--	--	--	--	--

28	Receivables
	a. Other than Exports	8.190	10.109	24.624	29.220	31.920

	b. Export Receivables/ Bill Discounted	--	--	--	--	--

29	Installment of Deferred receivables	--	--	--	--	--

30	Inventory
	i. Raw materials
	- Imported	0.000	0.000	0.000	0.000	0.000
	- Indigenous	27.094	31.299	36.390	41.866	44.886

	ii. Finished Goods	0.000	0.000	0.000	0.000	0.000

	iii. Work in progress	0.000	0.000	0.000	0.000	0.000

	iv. Consumables Stores and Spares	0.000	0.000	0.000	0.000	0.000

31	Advance to Suppliers of Raw Materials and Stores	--	--	--	--	--

32	Advance payment of taxes	--	--	--	--	--

33	Other Current Assets	0.000	0.000	0.000	0.000	0.000

34	TOTAL CURRENT ASSETS	35.465	63.975	92.857	129.601	168.614

	FIXED ASSETS
35	Gross Block	5.000	5.000	5.000	5.000	5.000

36	Depreciation	0.750	1.388	1.930	2.391	2.783

37	NET BLOCK	4.250	3.612	3.070	2.609	2.217

38	Security Deposit	0.000	0.000	0.000	0.000	0.000

	Advance / Deposits which are not Current Assets	--	--	--	--	--

	- Investment in Subsidiary Companies / Affiliates	--	--	--	--	--

	- Others	0.000	0.000	0.000	0.000	0.000

	Advance to Suppliers of Capital Goods	--	--	--	--	--

	Spares / Contractors for Capital	--	--	--	--	--

	Deferred Receivables	--	--	--	--	--

	Others	--	--	--	--	--

39	Non-Consumable Stores and Spares	--	--	--	--	--

40	Other Miscellaneous Assets including dues from Directors	--	--	--	--	--

41	TOTAL OTHER NON-CURRENT ASSETS	0.000	0.000	0.000	0.000	0.000

42	Intangible Assets	0.000	0.000	0.000	0.000	0.000

43	TOTAL ASSETS	39.715	67.587	95.927	132.210	170.831

44	Tangible Networth	8.604	28.976	54.855	87.923	124.828

45	Net Working Capital	10.465	38.975	67.857	104.601	143.614

46	Current Ratio	1.42	2.56	3.71	5.18	6.74

47	Total Outside Liabilities / Tangible Networth	3.43	1.02	0.54	0.34	0.24

	Additional Information
	- Arrear of Depreciation	--	--	--	--	--

	- Contingent Liabilities	--	--	--	--	--

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

FUND FLOW STATEMENT

(RS. IN MILLIONS)

PARTICULARS	2015 Estimates	2016 Projection	2017 Projection	2018 Projection

Profit before Tax	5.215	29.483	37.451	47.855

Add: Depreciation	0.750	0.638	0.542	0.461

Add: Preliminary Expenses	0.000	0.000	0.000	0.000

Add: Investment Allowance	--	--	--	--

Total	5.965	30.121	37.993	48.316

Less: Taxes paid/ payable [relating to the year]	--	1.611	9.110	11.572

Less: Dividend paid/ payable [relating to the year]	0.000	0.000	0.000	0.000

A. Sub-total Net Funds Generated	5.965	28.510	28.883	36.744

Increase in Capital	5.000	0.000	0.000	0.000

Increase in Unsecured Loans	4.500	0.000	0.000	0.000

Subsidy / ST deferment	--	--	--	--

Increase in Public Deposits	--	--	--	--

Increase in Term Loans	0.000	0.000	0.000	0.000

Decrease in Fixed Assets	0.000	0.000	0.000	0.000

Decrease in Inter-Corporate Investments and Advances	0.000	0.000	0.000	0.000

Decrease in Other non-Current assets	0.000	0.000	0.000	0.000

B. Sub-total	9.500	0.000	0.000	0.000

Increase in Short-term Bank Borrowings including Bills purchased and discounted by bankers	25.000	0.000	0.000	0.000

Increase in Other Current Liabilities	0.000	0.000	0.000	0.000

Decrease in Inventory	0.000	0.000	0.000	0.000

Decrease receivables [Including Bill purchased and discounted by Banker]	0.000	0.000	0.000	0.000

Decrease in Other Current assets [Including Cash and bank balance]	0.000	0.000	0.000	0.000

C. Sub-total	25.000	0.000	0.000	0.000

TOTAL FUNDS AVAILABLE [A + B + C]	40.465	28.510	28.883	36.744

USES
Increased in Fixed Assets un-provided Dep. of earlier years	5.000	0.000	0.000	0.000

Decrease in Term Loan/ Debentures	0.000	0.000	0.000	0.000

Deferred Payment Liabilities	0.000	0.000	0.000	0.000

Decrease in Public Deposits	0.000	0.000	0.000	0.000

Increase in Inter-corporate Investments and Advances	0.000	0.000	0.000	0.000

Decrease in Capital	0.000	0.000	0.000	0.000

Increase in other non-current assets	0.000	0.000	0.000	0.000

D. Sub-total	5.000	0.000	0.000	0.000

Decrease in Short Term Bank Borrowings including Bills purchased and Discounted by Bankers	0.000	0.000	0.000	0.000

Electric Deposits	0.000	0.000	0.000	0.000

Increase in Inventory	27.094	4.205	5.091	5.476

Increase in receivables including Bills purchased and discounted by bankers	8.190	1.919	14.515	4.596

Increase in Other Current Assets [Including Cash and bank Balance]	0.181	22.386	9.277	26.672

E. Sub-total	35.465	28.510	28.883	36.744

Loss [Item 10 of Part A of Form II]	0.000	0.000	0.000	0.000

Less: Depreciation [Item 4-VIII of Part A of Form]	0.000	0.000	0.000	0.000

Gross Funds Lost	0.000	0.000	0.000	0.000

Add: Taxes paid/payable	--	--	--	--

Add: Dividends paid/payable	--	--	--	--

F. Sub-total Net Funds Lost	0.000	0.000	0.000	0.000

TOTAL FUNDS USED [D + E + F]	40.465	28.510	28.883	36.744

Summary of Fund Flow
Long term Sources	15.465	28.510	28.883	36.744

Long term Uses	5.000	0.000	0.000	0.000

Surplus [+] / Shortfall [-]	10.465	28.510	28.883	36.744

Short term Sources	25.000	0.000	0.000	0.000

Short term Uses	35.465	28.510	28.883	36.744

Surplus [+] / Shortfall [-]	(10.465)	(28.510)	(28.883)	(36.744)

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

COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2015 ESTIMATES	2016 PROJECTION	2017 PROJECTION

1.	CURRENT ASSETS
	i. Raw Materials
	- Imported	0.000	0.000	0.000
	[Month Consumption]	0.00	0.00	0.00

	- Indigenous	27.094	31.299	36.390
	[Month Consumption]	1.27	1.22	1.20

	ii. Other Consumable Spares	0.000	0.000	0.000
	[Month Consumption]	0.00	0.00	0.00

	iii. Stock in process	0.000	0.000	0.000
	[Month Consumption]	--	--	--

	iv. Finished Goods	0.000	0.000	0.000
	[Month Cost of Production]	0.00	0.00	0.00

	v. Receivables	8.190	10.109	24.624
	[Month of Sales]	0.32	0.33	0.67

	vi. Export Receivables	--	--	--

	vii. Advances to Suppliers	--	--	--

	viii. Other Current Assets [Including Cash and bank Balances]	0.161	22.567	31.843

	TOTAL CURRENT ASSETS	35.465	63.975	92.857

2.	CURRENT LIABILITIES
	[other than bank borrowings]

	i. Creditors for Purchase of Raw Material and Stores	0.000	0.000	0.000

	Creditors for Capital Goods	--	--	--

	ii. Advances from Customers	--	--	--

	iii. Accrued Expenses	0.000	0.000	0.000

	iv. Statutory Liabilities	--	--	--

	v. Other Current Liabilities [Installment of term loans payable in next one year]	0.000	0.000	0.000

	TOTAL CURRENT LIABILITIES	0.000	0.000	0.000

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

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2015 ESTIMATES	2016 PROJECTION	2017 PROJECTION

1	Total Current Assets	35.465	63.975	92.857

2	Other Current Liabilities [Other than Bank borrowings]	0.000	0.000	0.000

3	Working Capital Gap	35.465	63.975	92.857

4	Minimum stipulated net working Capital - 25% of WCG/ 25% of total current assets as the case may be depending upon the method of lending being applied [Export receivables to be excluded under both the methods]	--	--	--

	2^nd Method [Considered]	8.866	15.994	23.214

5	Actual / Projected Net Working Capital	10.465	38.975	67.857

6	Item 3 minus item 4	26.599	47.981	69.643

7	Item 3 minus item 5	25.000	25.000	25.000

8	Maximum permissible bank finance (item 6 or 7 whichever is less)	25.000	25.000	25.000

9	Excess borrowings, if any representing short fall in NWC	0.000	0.000	0.000

	[2ND METHOD OF LENDING]

10	Working Capital Gap [Item III of Part B]	35.465	63.975	92.857

11	Minimum Stipulated Net Working Capital [25%]	8.866	15.994	23.214

12	Actual / Projected Net Working Capital [Item vi of Part B]	10.465	38.975	67.857

13	Item 8 minus item 9	26.599	47.981	69.643

14	Item 8 minus item 10	25.000	25.000	25.000

15	Maximum permissible finance [Minimum of 11 and 12]	25.000	25.000	25.000

16	Excess bank Borrowings [To be converted into Short term loan]	0.000	0.000	0.000

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

ANALYSIS AND COMPARATIVE RATIO

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2015 Estimates	2016 Projection	2017 Projection	2018 Projection

1	Net Sales [Item 3 in Form II A]	122.850	303.264	369.360	442.800

2	Rise [+] or fall in Net Sales during the year as compared to previous year	0.000	14.686	2.179	1.988

3	Profit before [+] or loss [-] item 10 in Form II A	5.215	29.483	37.451	47.855

4	Net Profit after Tax [+] or Loss [-] Item 12	3.604	20.373	25.879	33.068

5	a. Equity Dividend Declared	--	--	--	--

	b. Equity Dividend paid [Withdrawals]	0.000	0.000	0.000	0.000

	c. Rate of [A]	--	--	--	--

	d. Rate of [B]	--	--	--	--

6	Retained Profit	3.604	20.373	25.879	33.068

7	Retained Profit %	100.00	100.00	100.00	100.00

8	a. Raw Material
	- Imported	--	--	--	--
	- Indigenous	0.000	0.000	0.000	0.000

9	Stock in Process. How many months Cost of Production. Do these represent?	0.000	0.000	0.000	0.000

10	Finished Goods	0.000	0.000	0.000	0.000

11	Other consumable Spares that is the percentage to total inventory and how many months normal consumption do these represent	0.000	0.000	0.000	0.000

12	a. Receivable other than deferred receivables and Export receivables. How many months domestic sales other than on deferred payment basis on these represent	8.190	10.109	24.624	29.220

	b. Export receivable how many months export sales do there represent	--	--	--	--

	c. Deferred receivables	--	--	--	--

13	Sundry Creditors [Trade] [Item 4 in Form III A]	0.000	0.000	0.000	0.000

14	Net Working Capital [Item 49 in Form III A]	10.465	38.975	67.857	104.601

15	Current Ratio [Item 38 in Form III A]	1.42	2.56	3.71	5.18

16	Tangible Networth [Item 38 in Form III A]	8.604	28.976	54.855	87.923

17	Total Outside Liabilities/ Tangible Networth [Item 21/ Item 48 in Form III A] [Debt Equity Ratio]	3.43	1.02	0.54	0.34

18	a. Bank Borrowing/ Total Outside Liabilities [Item 1/ Item 21 in Form III A]	0.85	0.85	0.85	0.85

	b. Net Sales / Total Tangible Assets [Item 3 in Form II A / Item 47 minus item 46 in Form III A]	3.09	4.49	3.85	3.35

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

NETWORTH STATEMENT

MR. LAXMANBHAI MANGAJI PATEL

(RS. IN MILLIONS)

DETAILS OF ASSETS

IMMOVABLE PROPERTY

ASSETS	OWN / JOINT NAME	AREA	FREE HOLD OR LEASE HOLD	LOCATION/ ADDRESS	PURCHASE COST	PRESENT VALUE	WHETHER ENCUMBERED (GIVE DETAILS)
Non Agri. Land
i. Commercial	Owned	2500 Sq. Yards	Freehold	Plot No. 22 and 23, Zak GIDC, Block 290, Zak Vehlal Road, Gandhinagar	0.490	15.000	No
ii. Residential	Owned	100 Sq. Yards	Freehold	A-43, Keshavpark Society, Vastaral, Ahmedabad	1.000	7.500	No
Flat / House	--	--	--	--	--	--	--
Agri. Land	--	--	--	--	--	--	--
Others	--	--	--	--	--	--	--

MOVABLE PROPERTY

INSURANCE POLICIES

NAME OF COMPANY AND BRANCH	ANNUAL PREMIUM
LIC Premium	0.400

HDFC	0.250

Kotak	0.350

Total	1.000

SHARES / DEBENTURES / MUTUAL FUND ETC.: NA

TERM DEPOSITS: NA

INVESTMENT IN GOVT. SECURITIES LIKE BONDS / PPF/ NSC / KVP / IVP ETC.: NA

JEWELLERY

PARTICULARS	QUANTITY	VALUATION [APPROX.]
Gold	100 Gms.	0.275

Silver	1 Kgs	0.045

Others	--	--

CAPITAL INVESTED IN BUSINESS

NAME OF THE FIRM/ COMPANY	AMOUNT IN MILLIONS
Khushbu Enterprise	1.330

Laxmi Metal [HUF]	0.465

LEGAL HEIRS / FAMILY PARTICULARS

NAME	OCCUPATION	RELATION	AGE	MARITAL STATUS	ADDRESS
Bhaviben L. Patel	Business	Wife	35	Married	A-43, Keshavpark Society, Vastaral, Ahmedabad - 382418, Gujarat, India

Khushbu L. Patel	Study	Daughter	9	Unmarried	A-43, Keshavpark Society, Vastaral, Ahmedabad - 382418, Gujarat, India

Tanshok L. Patel	Study	Son	7	Unmarried	A-43, Keshavpark Society, Vastaral, Ahmedabad - 382418, Gujarat, India

Pinky L. Patel	Study	Daughter	14	Unmarried	A-43, Keshavpark Society, Vastaral, Ahmedabad - 382418, Gujarat, India

Bansi L. Patel	Study	Daughter	12	Unmarried	A-43, Keshavpark Society, Vastaral, Ahmedabad - 382418, Gujarat, India

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

NETWORTH STATEMENT

MRS. BHAVIBEN LAXMANBHAI PATEL

(RS. IN MILLIONS)

DETAILS OF ASSETS

IMMOVABLE PROPERTY

ASSETS	OWN / JOINT NAME	AREA	FREE HOLD OR LEASE HOLD	LOCATION/ ADDRESS	PURCHASE COST	PRESENT VALUE	WHETHER ENCUMBERED (GIVE DETAILS)
Non Agri. Land
i. Commercial	Owned	3000 Sq. Yards	Freehold	Plot No. 20 and 21, Zak GIDC, Zak Vehlal Road, Gandhinagar	2.200	20.000	--
ii. Residential	--	--	--	--	--	--	--
Flat / House	--	--	--	--	--	--	--
Agri. Land	--	--	--	--	--	--	--
Others	--	--	--	--	--	--	--

MOVABLE PROPERTY

INSURANCE POLICIES: NA

SHARES / DEBENTURES / MUTUAL FUND ETC.: NA

TERM DEPOSITS: NA

INVESTMENT IN GOVT. SECURITIES LIKE BONDS / PPF/ NSC / KVP / IVP ETC.: NA

VEHICLES: NA

JEWELLERY

PARTICULARS	QUANTITY	VALUATION [APPROX.]
Gold	400 Gms.	1.100

Silver	3 Kgs	0.125

Others	--	--

CAPITAL INVESTED IN BUSINESS

NAME OF THE FIRM/ COMPANY

AMOUNT IN MILLIONS

Khushbu Enterprise

18.736

LEGAL HEIRS / FAMILY PARTICULARS

NAME	OCCUPATION	RELATION	AGE	MARITAL STATUS	ADDRESS
Laxman Mangaji Patel	Business	Husband	40	Married	A-43, Keshavpark Society, Vastaral, Ahmedabad - 382418, Gujarat, India

Khushbu L. Patel	Study	Daughter	9	Unmarried	A-43, Keshavpark Society, Vastaral, Ahmedabad - 382418, Gujarat, India

Tanshok L. Patel	Study	Son	7	Unmarried	A-43, Keshavpark Society, Vastaral, Ahmedabad - 382418, Gujarat, India

Pinky L. Patel	Study	Daughter	14	Unmarried	A-43, Keshavpark Society, Vastaral, Ahmedabad - 382418, Gujarat, India

Bansi L. Patel	Study	Daughter	12	Unmarried	A-43, Keshavpark Society, Vastaral, Ahmedabad - 382418, Gujarat, India

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

PROJECT REPORT

ABOUT THE PROJECT:

Drawing is a metal working process which uses tensile forces to stretch metal. It is broken up into two types: sheet metal drawing and wire, bar, and tube drawing. The specific definition for sheet metal drawing is that it involves plastic deformation over a curved axis. For wire, bar, and tube drawing the starting stock is drawn through a die to reduce its diameter and increase its length. Drawing is usually done at room temperature, thus classified a cold working process. However, it may be performed at elevated temperatures to hot work large wires, rods or hollow sections in order to reduce forces.

Drawing is different from rolling in that the pressure of drawing it not transmitted through the turning action of the mill, but instead depends on force directed locally at the area of compression. This means the amount of possible drawing force is limited by the tensile strength of the material, a fact that is particularly evident when drawing thin wires.

Wire drawing is a metalworking process used to reduce the cross-section of a wire by pulling the wire through a single, or series of, drawing die(s). There are many applications for wire drawing, including electrical wiring, cables, tension-loaded structural components, springs, paper clips, spokes for wheels, and stringed musical instruments. Although similar in process, drawing is different from extrusion, because in drawing the wire is pulled, rather than pushed, through the die. Drawing is usually performed at room temperature, thus classified as a cold working process, but it may be performed at elevated temperatures for large wires to reduce forces.

PROCESS

Wire drawing concept

The wire drawing process is quite simple in concept. The wire is prepared by shrinking the beginning of it, by hammering, filing, rolling or swaging, so that it will fit through the die, the wire is then pulled through the die. As the wire is pulled through the die, its volume remains the same, so as the diameter decreases, the length increases. Usually the wire will require more than one draw, through successively smaller dies, to reach the desired size. The American wire gauge scale is based on this. This can be done on a small scale with a draw plate, or on a large: commercial scale using automated machinery. The process of wire drawing changes material properties due to cold working.

The area reduction in small wires is generally 15-25% and in larger wires is 20-45%. The exact die sequence for a particular job is a function of area reduction, input wire size and output wire size. As the area reduction changes, so does the die sequence.

Very fine wires are usually drawn in bundles. In a bundle, the wires are separated by a metal with similar properties, but with lower chemical resistance so that it can be removed after drawing lf the reduction in area is greater than 50%, the process may require an intermediate step of it can be redrawn.

Commercial wire drawing usually starts with a coil of hot rolled 9 mm (0.35 in) diameter wire. The surface is first treated to remove scales. It is then fed into a wire drawing machine which may have one or more blocks in series.

Single block wire drawing machines include means for holding the dies accurately in position and for drawing the wire steadily through the holes. The usual design consists of a cast-iron bench or table having a bracket standing up to hold the die, and a vertical drum which rotates and by coiling the wire around its surface pulls it through the die, the coil of wire being stored upon another drum or "swift" which lies behind the die and reels off the wire as fast as required. The wire drum or' "block" is provided with means for rapidly coupling or uncoupling it to its vertical shaft, so that the motion of the wire may be stopped or started instantly. The block is also tapered, so that the coil of wire may be easily slipped off upwards when finished. Before the wire can be attached to the block, a sufficient length of it must be pulled through the die; this is effected by a pair of gripping pincers on the end of a chain which is wound around a revolving drum, so drawing the wire until enough can be coiled two or three times on the block, where the end is secured by a small screw clamp or vice. When the wire is on the block, it is set in motion and the wire is drawn steadily through the die; it is very important that the block rotates evenly and that it runs true and pulls the wire at a constant velocity, otherwise "snatching" occurs which will weaken or even break the wire. The speeds at which wire is drawn vary greatly, according to the material and the amount of reduction.

Machines with continuous blocks differ from single block machines by having a series of dies through which the wire is drawn in a continuous fashion. Due to the elongation and slips, the speed of the wire changes after each successive redraw. This increased speed is accommodated by having a different rotation speed for each block. One of these machines may contain 3 to 12 dies. The operation of threading the wire through all the dies and around the blocks is termed "stringing-up". The arrangements for lubrication include a pump which floods the dies, and in many cases also the bottom portions of the blocks run in lubricant.

Often intermediate anneals are required to counter the effects of cold working, and to allow further drawing. A final anneal may also be used on the finished product to maximize ductility and electrical conductivity.

An example of product produced in a continuous wire drawing machine is telephone wire. It is drawn 20 to 30 times from hot rolled rod stock.

While round cross-sections dominate most drawing processes, non-circular cross-sections are drawn. They are usually drawn when the cross-section is small and quantities are too low to justify rolling. In these processes, a block or Turk’s head machine are used.

UTTLTTES:

Power:

The Directors of the company has already constructed Factory Shed on Plot No.22, 23 and in which power connection has already been taken by the company. So company has enough power supply from GEB to continue its business activity'

Water:

The Company has its own tube well for requirement of its water in the production.

Labour:

The company has enough trained labour force at the factory site for production of s.s. wire at zak. Moreover, all the labors are stay at the factory site so company will not observe labour problem at the factory.

TYPES OF PRODUCTS:

Steel is not a single product. There are currently more than 3,500 different grades of steel with many different physical, chemical, and environmental properties. Approximately 75% of modern steels have been developed in the last 20 years. If the Eiffel Tower were to be rebuilt today the engineers would only need one-third of the amount of steel. Modern cars are built with new steels that are stronger, but up to 25% lighter than in the Past.

Semi-finished products are solid blocks of steel, usually with a square or rectangular cross section. At a steel mill, the crude steel production process turns molten steel into ingots, blooms, billets or slabs. These are called semi-finished products.

Finished steel products are forged from semi-finished products. They are classified as follows:

· Cold-finished bars and flats (bright bars)

· Cold-finished sections including forged and cold-formed sections

· Cold-rolled narrow strip

· Cold-rolled plate and sheet in coil and lengths

· Deformed reinforcing bars

Drawn wire

· Forged bars

· Forgings (unworked)

· Heavy sections, piling and welded structural sections

· Hot-rolled bars and flats in lengths

· Hot-rolled light sections

· Hot-rolled narrow strip including universal plates

· Hot-rolled rod in a coil (including reinforcement bar in a coil)

· Hot-rolled wide strip, plate and sheet

· Points, switches, crossings, tyres, wheels and axles

· Rails and rolled accessories

· Silicon electrical sheet and strip

· Steel castings (unworked)

· Steel tubes (seamless and welded, and steel tube fittings)

SWOT ANALYSIS:

STRENGTHS

Rich mineral resources: India has abundance of iron ore, coal and many other raw materials required for iron and steel making. It has the fourth largest iron ore reserves (10.3 billion tonnes) after Russia, Brazil, and Australia. Therefore, many raw materials are available at comparatively lower costs.

Technical manpower: It has the third largest pool of technical manpower, next to United States and the erstwhile USSR, capable of understanding and assimilating new technologies. The director Mr. Laxmanbhai Patel is technically sound in this particular industry as he is in the business since 1998.

Workforce: Considering quality of workforce, Indian steel industry has low unit labour cost, commensurate with skill. This gets reflected in the lower production cost of steel in India compared to many advanced countries.

Untapped market: With such strength of resources, along with vast domestic untapped market, Indian steel industry has the potential to face challenges successfully.

Strong managerial capability: Mr. Laxmanbhai Patel is having sound knowledge of steel wire industries, he understand the market, having knowledge of production, sales ability so management is sound in this part.

WEAKNESS

High ash content of indigenous coking coal: This is inherent in the quality and availability of some of the essential raw materials available in India, and they adversely affect the productive efficiency of iron-making and is generally imported.

Capital intensive industry: Also, Steels a capital intensive industry; steel companies in India are charged an interest rate of around 14% on capital as compared to 2.4% in Japan and 6.4% in USA.

High administered price and High cost of energy: Prices of essential inputs like electricity are highly administered and it puts Indian steel industry at a disadvantage; about 45% of the input costs can be attributed to the administered costs of coal, fuel and electricity.

Higher duties and taxes: In India, rate of income tax is so high, moreover rate of excise duty, vat etc. amounts to large amount then other developed countries.

OPPORTUNITIES:

Increasing consumption: The biggest opportunity before Indian steel sector is that there is enormous scope for increasing consumption of steel in almost all sectors in India. The Indian rural sector remains fairly unexposed to their Multi-faceted use of steel.

Substitution and cost effective usage: The usage of steel in cost Effective manner is possible in the area of housing, fencing, structures and other possible applications where steel can substitute other materials which not only could bring about Advantages to users but is also desirable for conservation of forest resources.

Many potential sectors: Excellent potential exist for enhancing steel consumption in other sectors such as automobiles, packaging, engineering industries, irrigation and water supply in India.

Huge infrastructure demand: In India, with new Government, it is expected that new government will clear all pending infrastructure projects very soon and in this regard most of the work has already been done by the government. Their product is used in all types of infrastructure machineries that will help to grow them more.

Rapid urbanization: In India, urbanization takes place very rapidly, in sense that new cities are created and will increase their product demand indirectly.

Increasing demand for consumer durable: Now a days, purchasing power of an average middle class family is increased. And furniture, cars etc. are now a day's necessities than luxury and in all that their finished goods is applied which shows their growth.

THREATS

Linkage between steel industry and economic growth: The linkage between the economic growth of a country and the growth of its steel industry is strong. The growth of the domestic steel industry between 1970 and 1990 was similar to the growth of the economy, which as a whole was sluggish. This strong relation in today's environment where the growth of the industry has become stagnant owing to the overall slowdown has resulted in enhanced rivalry among existing firms.

Price wars: As the industry is not growing the only other way to grow is by increasing one's market share. The Indian steel industry has witnessed spurts of price wars and heavy trade discounts, which has impacted the Indian Steel Industry.

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VALUATION REPORT

(GENERAL DETAILS)

Purpose for which valuation is made

For opine present market value Bank of India, ITCR Branch, Ahmedabad

Date as on which valuation is made

30.10.2014

Name of the Owner

Mr. Laxmanbhai M. Patel

Persone/ Contact No.

Laxmanbhai

It the property is under Joint Ownership/ Co Ownership Share of each such owner. Are the shares undivided?

Freehold Property

Brief description of the property

As per Annexure I

Location, Street, Ward No.

Plot No. 22 and 23, B/h. Mahakali Industrial Estate, Village Zak, Ahmedabad

Survey / Plot No. of Land

R.S. No. 357

Is the property situated in the Residential/ Commercial/ Mixed Area/ Industrial Area?

Developed Industrial Area

Classification of Locality – High class/ Middle Class/ Poor class?

Middle Class Locality

Proximity to civic amenities like School, Hospitals, cinema etc.

Hospital, Schools, Colleges, Shops Clinics are available within nearby area.

Proximities to civic amenities

- School

- Hospital

- Office

- Market

- Airport

Nearby area

Approx. 50 Km

Means and proximity to surface communication by the locality is served

Bus routes available, rickshaws and private vehicles can easily approach the site.

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

1755.85 Sq. Mt.

2100 Sq. Yds. [As per document produced]

Orientation of Site

- North

- South

- East

- West

Block No. 289 and 290

Common Road

Road

Plot No. 24

Is it leasehold the name of lessor/ lessee, nature of lease, dates of commencement and termination of lease and terms of renewal of lease:

- Initial premium

- Ground rent payable per annum

- Unearned increase payable to the lessor in the event of sale or transfer

Freehold property

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

At present no, for further information.

Does the land fall in an area included in any town planning scheme or any development plan of government or any statutory body? If so, give particulars

The does not fall in any T.P. Scheme.

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

At present no, for further information.

Has the whole or part of land been notified for acquisition by government or any statutory body? Give date of the notification

At present no, for further information.

Furnish technical details of the building on a separate sheet [The annexure to this form may be used]

As per Annexure I

Is the building owner-occupied / tenanted / both?

Freehold

If partly owner-occupied, specify portion and extent of area under owner-occupation

Owner Occupied

What is the floor space index permissible and percentage actually utilized?

As per Concern Authority

- Names of tenants/lessees etc.

- Portion in their occupation

- Monthly or annual rent/ Compensation/ licence fee etc. paid by each

- Gross amount received for the whole property

Owner Occupied at present

Are any of the occupants related to, or close business associates of the owner?

At present no.

Is separate amount being recovered for the use of fixtures like fans, geysers, refrigerators, cooking ganges, built in wardrobes etc. or for service charges? If so, give details

Yes, But it included in Cost of Construction.

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

Not Produced

Has the tenant to bear the whole or part of the cost of repairs and maintenance? Give particulars

Freehold bear the Cost

If a lift is installed, who is to bear the Cost of maintenance and operation-owner or tenant?

Lift is not installed

Is a pump is installed, who is to bear the Cost of maintenance and operation-owner or tenant?

Bear by the Owner

Who has to bear the Cost of electricity charges for lighting of common space like entrance hall, stairs, passages, compound, etc. owner or tenant?

Bear by the Owner

What is the amount of property tax? Who is to bear it? Give details with documentary proof

Not Produced

Is any dispute between landlord and tenant regarding rent pending in a court of law?

It is Owner occupied property

Has any standard rent been fixed for the premises under any law relating to the control of rent?

It is leasehold property

Give instances of sales of immovable property in the locality on a separate sheet, indicating the name and address of the property, registration No., sale price and area of land sold

Sale instances are not possible.

Land rate adopted in this valuation

Considering the present demand of land located at such location as on the date of valuation, inquiry made from prominent estate brokers for particulars area and on personal experience they suggest the rate of land as Rs. 5000 to 7000 per Sq. Yds.

Rate of land adopted

Rs. 5500 per Sq. Yds.

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

Instance of sale is not possible but had inquiry in surrounding area and taken the rate by to experience.

Year of commencement of construction and year of completion

Year of Commencement 2014

What was the method of construction-by contract/ by employing labour directly / both?

Both

Remarks

ITEM	2010	2014
Labour	150	400

Skill Worker	300	800

Cement	175	300

Iron	25	50

Brick	2	6

VALUATION CALCULATION

VALUE OF LAND

Considering the present demand of land in this locality as on date of valuation, the prominent estate brokers and on the basis of their experience, they adopt rate of land Rs. 5000 to 7000 per Sq. Yds.

Area of Land	Rs. 2100 Sq. Yds.

Value of Land	Area of Land x Rate adopted 2100 x 5000 per Sq. Yds.

TOTAL	Rs. 10.500 Millions

VALUE OF BUILDING

1. Office and Store

Considering the type of construction and materials used in construction, type of finishing, and considering the past age of structure, depreciated rate of construction is assessed as under:

Built up area	183 Sq. Yds.

Present Depreciation rate adopted	8500 per Sq. Yds.

Present Depreciation construction value	Built up area x Rate adopted 183 Sq. Yds. X 8500 per Sq. Yds.

TOTAL	Rs. 1.556 Millions

As the construction of building is approx. 2 years old, considering the present condition of structure and material used in construction 1% depreciation per annum is deducted as depreciation for past age.

Depreciation	Rs. 0.031 Million

Depreciated value of construction	Rs. 1.556 Millions

Present depreciated value of construction	Rs. 1.524 Millions

2. Production Shed

Considering the type of construction and materials used in construction, type of finishing, and considering the past age of structure, depreciated rate of construction is assessed as under:

Built up area	973.41 Sq. Yds.

Present Depreciation rate adopted	4000 per Sq. Yds.

Present Depreciation construction value	Built up area x Rate adopted 973.41 Sq. Yds. X 4000 per Sq. Yds.

TOTAL	Rs. 3.894 Millions

Depreciation	Rs. 0.078 Million

Depreciated value of construction	Rs. 3.894 Millions

Present depreciated value of construction	Rs. 3.816 Millions

So, the present value of property

Total Value of land	Rs. 10.500 Millions

Value of building	Rs. 5.340 Millions

Total	Rs. 15.840 Millions

Say	Rs. 17.456 Millions

This is to certify that the valuation report is of the right property which was inspected and showed by the owner.

PRESENT MARKET VALUE OF THE PROPERTY

RS. 17.456 MILLIONS

REALIZABLE VALUE OF THE PROPERTY

RS. 15.710 MILLIONS

DISTRESS VALUE

Distress/ Forced Value is the opinion of the price at which an assets could be sold under abnormal conditions, the perception of the seller being under duress to sell, an auction, a liquidation, recent development, legal complications, or other such factors that materially reduce the bargaining leverage of the seller and give prospective buyers a significant advantage that can translate into heavily discounted leverage of the seller and give and is forced to be sold quickly due to extraneous conditions.

THE DISTRESS SALE VALUE OF PROPERTY

RS. 13.965 MILLIONS

JANTRI VALUE OF PROPERTY

RS. 5.237 MILLIONS

ANNEXURE I

BRIEF DESCRIPTION OF THE PROPERTY / TECHNICAL DETAILS

No of floors and height of each floor

Single Storied Building

Roofing and terracing

RCC Sheet

Plinth area floor - wise [As per IS : 3861 - 1966]

2100 Sq. Yds.

Year of Construction

2014

Estimated future life

50 Years

[Subject to Periodic Maintenance]

Type of construction

Frame structure

Type of foundations

Column footing foundation

Walls

Brick / Stone masonry

Partitions

Brick masonry

Door and Windows

Wooden

Flooring

IPS Flooring

Finishing

Cement Plaster

Special architectural or decorative features, if any

Not yet done

Internal Wiring [Surface or Conduit]

Concealed

Class of fittings [No. of water closets]

Ordinary

Sanitary Installations

WC / urinals available

Class of fittings: Superior Coloured / Superior / White / Ordinary

Ordinary

Compound Wall

- Height and length

- Type of Construction

Brick Masonry

20 ft. ht. length

Load bearing construction

No of Lifts and Capacity

Not installed

Underground Pump – capacity and type of construction

Capacity 2000 litre R.C.C water tank

Overhead Tanks

- Where located

- Capacity

- Type of construction

Not installed

Pump No. and their horse power

2.5 hp

Roads and paving within the compound, approximate area and type of paving

500 Sq. ft. having RCC Trimix

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VALUATION REPORT

(GENERAL DETAILS)

Purpose for which valuation is made

For opine present market value Bank of India, ITCR Branch, Ahmedabad

Date as on which valuation is made

30.10.2014

Name of the Owner

Mr. Bhaviben L. Patel

Persone/ Contact No.

Laxmanbhai

It the property is under Joint Ownership/ Co Ownership Share of each such owner. Are the shares undivided?

Freehold Property

Brief description of the property

As per Annexure II

Location, Street, Ward No.

Plot No. 20 and 21, B/h. Mahakali Industrial Estate, Village Zak, Ahmedabad

Survey / Plot No. of Land

R.S. No. 357

Is the property situated in the Residential/ Commercial/ Mixed Area/ Industrial Area?

Developed Industrial Area

Classification of Locality – High class/ Middle Class/ Poor class?

Middle Class Locality

Proximity to civic amenities like School, Hospitals, cinema etc.

Hospital, Schools, Colleges, Shops Clinics are available within nearby area.

Proximities to civic amenities

- School

- Hospital

- Office

- Market

- Airport

Nearby area

Approx. 50 Km

Means and proximity to surface communication by the locality is served

Bus routes available, rickshaws and private vehicles can easily approach the site.

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

2078.58 Sq. Mt.

2485.98 Sq. Yds. [As per document produced]

Orientation of Site

	Plot No. 20	Plot No. 21

North	Int. Road	Plot No. 22

South	Block No. 274	Block No. 274/1

East	Plot No. 21	Other Property

West	Plot No. 19	Plot No. 20

Is it leasehold the name of lessor/ lessee, nature of lease, dates of commencement and termination of lease and terms of renewal of lease:

- Initial premium

- Ground rent payable per annum

- Unearned increase payable to the lessor in the event of sale or transfer

Freehold property

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

At present no, for further information.

Does the land fall in an area included in any town planning scheme or any development plan of government or any statutory body? If so, give particulars

The does not fall in any T.P. Scheme.

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

At present no, for further information.

Has the whole or part of land been notified for acquisition by government or any statutory body? Give date of the notification

At present no, for further information.

Furnish technical details of the building on a separate sheet [The annexure to this form may be used]

As per Annexure II

Is the building owner-occupied / tenanted / both?

Freehold

If partly owner-occupied, specify portion and extent of area under owner-occupation

Owner Occupied

What is the floor space index permissible and percentage actually utilized?

As per Concern Authority

- Names of tenants/lessees etc.

- Portion in their occupation

- Monthly or annual rent/ Compensation/ licence fee etc. paid by each

- Gross amount received for the whole property

Owner Occupied at present

Are any of the occupants related to, or close business associates of the owner?

At present no.

Is separate amount being recovered for the use of fixtures like fans, geysers, refrigerators, cooking ganges, built in wardrobes etc. or for service charges? If so, give details

Yes, But it included in Cost of Construction.

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

Not Produced

Has the tenant to bear the whole or part of the cost of repairs and maintenance? Give particulars

Freehold bear the Cost

If a lift is installed, who is to bear the Cost of maintenance and operation-owner or tenant?

It is Open plot

Is a pump is installed, who is to bear the Cost of maintenance and operation-owner or tenant?

Bear by the Owner

Who has to bear the Cost of electricity charges for lighting of common space like entrance hall, stairs, passages, compound, etc. owner or tenant?

Bear by the Owner

What is the amount of property tax? Who is to bear it? Give details with documentary proof

Not Produced

Is any dispute between landlord and tenant regarding rent pending in a court of law?

It is Owner occupied property

Has any standard rent been fixed for the premises under any law relating to the control of rent?

It is leasehold property

Give instances of sales of immovable property in the locality on a separate sheet, indicating the name and address of the property, registration No., sale price and area of land sold

Sale instances are not possible.

Land rate adopted in this valuation

Rate of land adopted

Rs. 5000 per Sq. Yds.

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

Instance of sale is not possible but had inquiry in surrounding area and taken the rate by to experience.

Year of commencement of construction and year of completion

Open plot

What was the method of construction-by contract/ by employing labour directly / both?

Both

Remarks

ITEM	2010	2014
Labour	150	400

Skill Worker	300	800

Cement	175	300

Iron	25	50

Brick	2	6

VALUATION CALCULATION

VALUE OF LAND

Area of Land	Rs. 2485.98 Sq. Yds.

Value of Land	Area of Land x Rate adopted 2485.98 x 5000 per Sq. Yds.

Total	Rs. 12.430 Millions

So, the present value of property

Total Value of land	Rs. 12.430 Millions

Total	Rs. 12.430 Millions

Say	Rs. 12.430 Millions

This is to certify that the valuation report is of the right property which was inspected and showed by the owner.

PRESENT MARKET VALUE OF THE PROPERTY

RS. 12.430 MILLIONS

REALIZABLE VALUE OF THE PROPERTY

RS. 11.187 MILLIONS

DISTRESS VALUE

THE DISTRESS SALE VALUE OF PROPERTY

RS. 9.944 MILLIONS

JANTRI VALUE OF PROPERTY

RS. 3.729 MILLIONS

ANNEXURE II

BRIEF DESCRIPTION OF THE PROPERTY / TECHNICAL DETAILS

No of floors and height of each floor

It is open plot

Roofing and terracing

It is open plot

Plinth area floor - wise [As per IS : 3861 - 1966]

2485.98 Sq. Yds.

Year of Construction

It is open plot

Estimated future life

It is open plot

[Subject to Periodic Maintenance]

Type of construction

It is open plot

Type of foundations

It is open plot

Walls

It is open plot

Partitions

It is open plot

Door and Windows

It is open plot

Flooring

It is open plot

Finishing

It is open plot

Special architectural or decorative features, if any

It is open plot

Internal Wiring [Surface or Conduit]

It is open plot

Class of fittings [No. of water closets]

It is open plot

Sanitary Installations

It is open plot

Class of fittings: Superior Coloured / Superior / White / Ordinary

It is open plot

Compound Wall

- Height and length

- Type of Construction

RCC Brick Masonry

3 ft. height

Load bearing

No of Lifts and Capacity

It is open plot

Underground Pump – capacity and type of construction

It is open plot

Overhead Tanks

- Where located

- Capacity

- Type of construction

It is open plot

Pump No. and their horse power

It is open plot

Roads and paving within the compound, approximate area and type of paving

It is open plot

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INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

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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 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 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. 61.93
UK Pound	1	Rs. 97.39
Euro	1	Rs. 77.21

INFORMATION DETAILS

Information Gathered by :	HNA

Analysis Done by :	KAR

Report Prepared by :	BVA

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	--

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