MIRA INFORM REPORT

Report Date :

29.12.2014

IDENTIFICATION DETAILS

Name :	SHREE BALAJI IMPEX

Registered Office :	B-93, Maruti Industrial Estate, Opposite Fire Station, Near Memco Circle, Ahmedabad – 380025, Gujarat

Country :	India

Financials (as on) :	30.11.2014 (Provisional)

Year of Establishment :	April, 2010

Capital Investment :	Rs. 4.955 Millions

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

PAN No.: [Permanent Account No.]	AQQPC6279F

Legal Form :	Sole Proprietary Concern

Line of Business :	Manufacturer and Trader of Various Types of Fabrics used in Manufacturing of Ladies Leggings, Nighties and Kids Night Wear and Hosiery Items.

No. of Employees :	07 (Approximately) (In Factory: 07)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	Subject is an established proprietary concern having satisfactory track record. The concern has shown a significant growth in its sales turnover and profit during FY 2014. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct and as per commitment. The concern can be considered normal for business dealings at usual 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 – September 30, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

India

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

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. Vinod Kishanchand Chelani
Designation :	Proprietor
Contact No.:	91-9924799667
Date :	27.12.2014

LOCATIONS

Registered Office/ Factory :	B-93, Maruti Industrial Estate, Opposite Fire Station, Near Memco Circle, Ahmedabad – 380025, Gujarat, India
Tel. No.:	91-79-65430799
Mobile No.:	91-9924799667 (Mr. Vinod Kishanchand Chelani)
Fax No.:	Not Available
E-Mail :	vinodchelani9909@hotmail.com
Area :	800 Sq. ft.
Location :	Rented

SOLE PROPRIETOR

Name :	Mr. Vinod Kishanchand Chelani
Designation :	Proprietor
Address :	Back Side CJ Market, 1245, Thakkar Bapa Nagar, Near Thakkar Nagar Police Chowki, Ahmedabad – 382350, Gujarat, India
Date of Birth/Age :	25.01.1964
Qualification :	HSC
Experience :	More than 5 Years
PAN No.:	AQQPC6279F

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of Various Types of Fabrics used in Manufacturing of Ladies Leggings, Nighties and Kids Night Wear and Hosiery Items.

Brand Names :	--

Agencies Held :	--

Exports :	--

Imports :	--

Terms :
Selling :	Credit (30 Days)

Purchasing :	--

PRODUCTION STATUS

Particulars	Unit	Installed Capacity	Actual Production

Hosiery Fabrics	KG	500 Per Day	250 Per Day

GENERAL INFORMATION

Suppliers :

Reference:	Bellani Industries
Address :	A-48, Rivera Bunglows, Near Noble Nagar, Nana Chiloda, Naroda, Ahmedabad – 382340, Gujarat, India
Name of the Person (with Designation):	Mr. Suresh Sharma
Contact Number:	91-7878177121
Since How Long Known:	1 Years
Maximum Limit Dealt:	Rs. 0.300 to 0.400 Million per month
Experience :	Its good company, payment are on time sometimes get delay but overall its good company.

Reference:	Divya Enterprises
Address :	12/7, Near G-Ward Circle, Kuber Nagar, Ahmedabad – 382340, Gujarat, India
Name of the Person (with Designation):	Mr. Naresh Bhai
Contact Number:	91-9723619033
Since How Long Known:	4 Years
Maximum Limit Dealt:	Rs. 2.500 Millions
Experience :	Good experience in payment, market goodwill is good and overall operations are good.

· Devi Enterprises

Address: Vaibhav Laxmi Complex, Shop No. 20, Gheekhanta, Ahmedabad – 380001, Gujarat, India

Contact Number: 91-8866833111

Contact Person: Mr. Mahesh Bhai

· Prateek Textile

Minal Enterprise

Singhal Traders

Shantinath Hosiery

Shah Corporation

Parvi Yarn Exports

Jai Mata Di Fabrics

Customers :

Wholesalers

Reference:	LS Group International
Address:	Shop No. 16, Karnavati Market, Panchkuwa, Ahmedabad – 380001, Gujarat, India
Name of the Person (with Designation):	Mr. Suresh Bhai (Proprietor)
Contact Number:	91-9429634017
Since How Long Known:	3 Years
Maximum Limit Dealt:	Rs. 1.800 Millions
Experience :	Product Quality is Good, Goods come on time and It’s an excellent company.

Reference:	Om Sai Creation
Address:	Vaibhav Laxmi Complex, Shop No. 20, Gheekhanta, Ahmedabad – 380001, Gujarat, India
Name of the Person (with Designation):	Mr. Harish Bhai (Proprietor)
Contact Number:	91-8866833111
Since How Long Known:	3 Years
Maximum Limit Dealt:	Rs. 2.000 Millions
Experience :	Very Good, Product Quality is Good, Delivery of goods on time and overall operations are good.

Om Shanti Impex

Address: 107/4, Thakkar Nagar, Opposite Natraj Sweets, Near Thakkarbapa Nagar Police Chowki, Ahmedabad – 382350, Gujarat, India

Contac Number: 91-9429634017

Contact Person: Sandeep Bhai

· Vijaylaxmi Traders

Nice Hosiery

No. of Employees :

07 (Approximately) (In Factory: 07)

Bankers :

Bank Name:	Union Bank of India
Branch:	Sardar Nagar Branch, Opposite Garden, Main Bazar, Ahmedabad, Gujarat, India
Name of the Person (with Designation):	Not Divulged
Contact Number:	--
Name of Account Holder:	SHREE BALAJI IMPEX
Account Number:	595401010050268
Account Since (Date/ Year of A/c Opening):	07.12.2013
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	Good
Remarks: As claimed by Branch Manager Operation in accounts is good.

Auditors :
Name :	Singhi Bikash and Associates Chartered Accountants
Address :	20, Ground Floor, Smit Sagar Society, Near Andhra Bank, Oppsite Rahul Tower, Anand Nagar, Ahmedabad – 380015, Guajarat, India
Tel. No.:	91-79-40303953
Mobile No.:	91-8141402026
E-Mail :	s.rajan1900@hotmail.com

Sister Concerns:	--

CAPITAL STRUCTURE

As on 30.11.2014

Capital Investment :
Owned :	Rs. 4.955 Millions
Borrowed :	--
Total :	Rs. 4.955 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		30.11.2014 (8 Months) (Provisional)	31.03.2014	31.03.2013	31.03.2012
SHAREHOLDERS FUNDS
1] Proprietors Capital		4.955	3.899	1.215	0.650
2] Share Application Money		0.000	0.000	0.000	0.000
3] Profit and Loss Account		0.000	0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000	0.000
NETWORTH		4.955	3.899	1.215	0.650
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000	0.000

TOTAL		4.955	3.899	1.215	0.650

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		2.167	0.051	0.058	0.066
Capital work-in-progress		0.000	0.000	0.000	0.000

INVESTMENT		0.000	0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	8.311	8.124	3.075	0.788
	Sundry Debtors	1.084	0.717	0.279	0.028
	Cash & Bank Balances	0.025	2.220	0.038	0.057
	Other Current Assets	0.000	0.000	0.000	0.000
	Loans & Advances	0.000	0.000	0.000	0.000
Total Current Assets		9.420	11.061	3.392	0.873
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.547	7.110	2.151	0.227
	Other Current Liabilities	0.085	0.103	0.084	0.062
	Provisions	0.000	0.000	0.000	0.000
Total Current Liabilities		6.632	7.213	2.235	0.289
Net Current Assets		2.788	3.848	1.157	0.584

MISCELLANEOUS EXPENSES		0.000	0.000	0.000	0.000

TOTAL		4.955	3.899	1.215	0.650

PROFIT & LOSS ACCOUNT

	PARTICULARS		30.11.2014 (8 Months) (Provisional)	31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	60.448	31.377	9.622	5.979
		Other Income	0.000	0.000	0.000	0.000
		TOTAL	60.448	31.377	9.622	5.979

Less	EXPENSES
		Cost of Goods Sold	56.839	27.177	7.435	4.715
		Direct Expenses	0.000	0.000	0.524	0.304
		Job Charges	0.522	1.275	0.000	0.000
		Freight and Carriage	0.050	0.250	0.000	0.000
		Wages	0.072	0.271	0.000	0.000
		Audit Fees	0.000	0.020	0.000	0.000
		Accounting Charges	0.009	0.018	0.012	0.009
		Conveyance	0.062	0.076	0.068	0.011
		Bank Charges	0.015	0.005	0.000	0.000
		Bonus Expenses	0.040	0.033	0.030	0.016
		Carriage Outward	0.030	0.034	0.000	0.000
		Petrol Expenses	0.023	0.026	0.000	0.000
		Electricity Expenses	0.027	0.032	0.030	0.024
		Fees and Subscription	0.000	0.000	0.004	0.003
		Misc Expenses	0.000	0.000	0.005	0.002
		Packing Expenses	0.135	0.173	0.241	0.109
		Profession Tax	0.000	0.002	0.000	0.000
		Printing and Stationery	0.016	0.025	0.009	0.006
		Rent	0.135	0.180	0.178	0.144
		Telephone Expenses	0.036	0.045	0.045	0.022
		Salaries	0.296	0.389	0.204	0.129
		Shop	0.000	0.000	0.016	0.008
		Staff Welfare	0.018	0.023	0.018	0.016
		Travelling Expenses	0.030	0.037	0.030	0.030
		TOTAL	58.355	30.091	8.849	5.548

	PROFIT / (LOSS) BEFORE DEPRECIATION AND AMORTISATION		2.093	1.286	0.773	0.431

Less/ Add	DEPRECIATION/ AMORTISATION		0.380	0.007	0.008	0.009

	NET PROFIT/ (LOSS)		1.713	1.279	0.765	0.422

KEY RATIOS

PARTICULARS		30.11.2014 (8 Months) (Provisional)	31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	2.83	4.08	7.95	7.06

Return on Total Assets (PBT/Total Assets}	(%)	14.78	11.51	22.17	44.94

Return on Investment (ROI) (PBT/Networth)		0.35	0.33	0.63	0.65

Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.00	0.00

Current Ratio (Current Asset/Current Liability)		1.42	1.53	1.52	3.02

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Proprietors Capital	0.650	1.215	3.899
Profit and Loss Account	0.000	0.000	0.000
Net worth	0.650	1.215	3.899

Secured Loans	0.000	0.000	0.000
Unsecured Loans	0.000	0.000	0.000
Total borrowings	0.000	0.000	0.000
Debt/Equity ratio	0.000	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	5.979	9.622	31.377
		60.930	226.096

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	5.979	9.622	31.377
Profit	0.422	0.765	1.279
	7.06%	7.95%	4.08%

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 and Eight Months	Yes
12]	Profitability for last three years and Eight Months	Yes
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	Yes
18]	Major customers	Yes
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	Yes
24]	Banking facility details	No
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	No
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	No
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	No
34]	External Agency Rating, if available	No

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

MR. VINOD KISHANCHAND CHELANI

COMPUTATION OF TOTAL INCOME

(RS. IN MILLIONS)

PARTICULARS	31.03.2014

INCOME FROM BUSINESS OR PROFESSION

Net Profit From Shree Balaji Impex		1.279

GROSS TOTAL INCOME		1.279

Deduction under chapter VIA U/S 80C :		--

TOTAL TAXABLE INCOME		1.279

Income tax due on Rs.	1.279	0.214

Add: Education cess @ 3%		0.006

Total Tax Payable		0.220

Interest u/s

234 A	0.007

234 B	0.020

234C	0.008	0.035

Total Tax Payable		0.255

Less: Advance Income Tax		--

Total Tax Payable		0.255

Self-Assessment Tax Paid U/S 140A		--

Balance Payable		0.255

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

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016
		Estimated	Projected
1.	Sales	75.000	93.800

2.	Other Income	--	--

3.	Sub Total	75.000	93.800

4.	Cost of Sales
I.	Purchases	66.700	83.800

i	Direct Expenses	3.835	4.819

ii	Cost of Production	70.535	88.619

iii	Add: Opening Stock	8.124	9.137

Iv	Sub Total	78.659	97.755

V	Less: Closing Stock	9.137	11.479

vi	Sub Total: Cost of Sales	69.522	86.276

5	Selling, Administrative and Personal Expenses	1.800	2.500

6	Sub Total	71.322	88.776

7	Opening Profit Before Interest	3.678	5.024

8	Interest	0.182	0.728

9	Depreciation	0.395	0.338

10	Operating Profit after Interest Before Tax	3.101	3.958

11	Provision for Taxes	--	--

12	Retained Profit	3.101	3.958

13	Net Profit % of Sales	0.413	0.422

14	Interest Service Coverage Ratio	20.21	6.90

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

ANALYSIS OF BALANCE SHEET

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016
		Estimated	Projected
	CURRENT LIABILITIES

1.	Borrowing from Banks

	Cash Credit	5.600	5.600

	Sub Total (A)	5.600	5.600

2.	Sundry Creditors	0.914	1.148

3.	Advance from Customer	--	--

4.	Other Liabilities including Provisions	0.334	0.350

5.	Term Loan Installment due within one year	--	--

	Sub Total (B)	1.248	1.498

6.	TOTAL CURRENT LIABILITIES	6.848	7.098

7.	TERM LIABILITIES (Excluding One year installment)	--	--

8.	Unsecured Loans	--	--

	Sub Total (C)	--	--

9.	TOTAL OUTSIDE LIABILITIES (A+B+C)	6.848	7.098

	NET WORTH

10	Proprietor’s Capital	7.000	9.958

11	NET WORTH	7.000	9.958

12	TOTAL LIABILITIES	13.847	17.056

	CURRENT ASSETS

13	Cash and Bank Balances	0.504	1.192

14	Receivables	2.055	2.570

15	Stock in Hand	9.137	11.479

16	Advance to Suppliers	--	--

17	Other Current Assets	--	--

18	TOTAL CURRENT ASSETS	11.696	15.241

	FIXED ASSETS

19	Gross Block w.d.v. 1^st April	0.051	2.152

19. a.	Addition	2.496	--

19.b.	Sale	--	--

20	Depreciation for the year	0.395	0.338

21	Net Block w.d.v. 31st March	2.152	1.814

	OTHER NON CURRENT ASSETS

22	Investments	--	--

23	Non Consumable Stores and Spares	--	--

24	TOTAL OTHER NON CURRENT ASSETS	--	--

25	Intangible Assets	--	--

26	TOTAL ASSETS	13.848	17.055

27	TANGIBLE NET WORTH	7.000	9.958

28	NET WORKING CAPITAL	4.848	8.143

29	Current Ratio	1.71	2.15

30	TOL/ TNW	0.98	0.71

31	Debt Equity Ratio	--	--

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

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016
		Estimated	Projected

1.	Total Current Assets	11.696	15.241

2.	Total Current Liabilities other than Bank Borrowings	1.248	1.498

3.	Working Capital Gap (WCG) (1-2)	10.448	13.743

4.	Min. stipulated net working capital i.e., 25% of total current assets as the case may be depending upon the method of lending being applied	2.924	3.810

5.	Actual/ Projected net working capital	4.848	8.143

6.	Item 3 minus item 4	7.524	9.933

7.	Item 3 minus item 5	5.600	5.600

8.	Maximum permissible bank finance (Items 6 or 7 whichever is lower)	5.600	5.600

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

CALCULATION OF MPBF UNDER TURNOVER METHOD

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016
		Estimated	Projected

1.	Estimated Sales for the year	75.000	93.800

2.	25% of Gross Sales	18.750	23.450

3.	Margin 5%	3.750	4.690

4.	Actual/ Projected NWC	48.48	81.43

5.	Item 2 minus 3	15.000	18.760

6.	Item 2 minus item 4	13.902	15.307

7.	Permissible Bank Finance (Lower item 5 and item 6)	13.902	15.307

8.	Facility Requested	5.600	5.600

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

CURENT ASSETS AND LIABILITIES VELOCITY

(RS. IN MILLIONS)

PARTICULARS	31.03.2015	31.03.2016
	Estimated	Projected
Calculation of Working Capital on Inventory and Receivable Norms

Receivables	2.055	2.570

Stock in Hand	9.137	11.479

Advance to Supplier	--	--

Other Current Assets	--	--

Total Current Assets	11.192	14.049

Less:

Sundry Creditors	0.914	1.148

Advance from Customer	--	--

Working Capital Requirement	10.278	12.901

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

CALCULATION OF DRAWING POWER ON THE BASIS OF PROEJECTIONS

(RS. IN MILLIONS)

PARTICULARS	31.03.2015	31.03.2016
	Estimated	Projected
Drawing Power Against Stock

Value of Stocks	9.137	11.479

Less: Creditors	0.914	1.148

Less: Margin 25%	2.056	2.583

Drawing Power Against Stock (A)	6.167	7.749

Drawing Power Against Book – Debts

Value of Book – Debts	2.055	2.570

Less: Margin 40%	0.822	1.028

Drawing Power Against Book Debts (B)	1.233	1.542

Total Drawing Power (A+B)	7.400	9.291

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

NETWORTH STATEMENT

MR. VINOD KISHANCHAND CHELANI

(RS. IN MILLIONS)

PARTICULARS	AMOUNT
IMMOVABLE ASSETS

Property at City Survey No. 1942, Paki Open Plot, Near Naroda Crossing, Opposite Maruti Suzuki Showroom, Naroda, Ahmedabad, measuring 1200 Sq. Mts.	30.000

2 Commercial Shops At Saumel – IV Business Park, Near Kalupur Bridge, Amdupura Road, Ahmedabad	5.590

Back Side CJ Market 1245, Thakkar Bapa Nagar, Ahmedabad – 382340, Gujarat, India	3.500

TOTAL (A)	39.090

MOVABLE ASSETS

Capital invested in Shree Balaji Impex (As on 30 November, 2014)	4.955

Cash and Bank Balances	0.500

Gold Jewellery	1.000

Total (B)	6.455

Total Assets (A+B)	45.545

LIABILITIES

Total (D)	--

Net Worth (C-D)	45.545

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

VALUATION REPORT

GENERAL DETAILS

Purpose of Valuation

To Ascertain Present Market Value of freehold interest in Commercial office

Date of valuation

18.11.2014

Persons accompanying/ available at the site at the time of visit/ valuation

Mr. Vinod Kishanchand Chelani

Complete address of the property (Door No./ Street/ Cross Road/ Survey No., etc)

R S No.: 172/1 paiki 173 paiki, C S No: 2453,

T P S No.: 16, F P No.: 62, Sub Plot No.: 1,

Unit No.: 137, First Floor, (As per Plan Unit No.: 37),

Block No. C

“SUMEL BUSINESS PARK - 4”,

B/h: Amadupura – Kalupur Bridge,

At: Shaher Kotda, Ahmedabad

Boundaries

East :

West :

North :

South :

Unit No.: 126

2.50 Mtr wide Passage

Unit No.: 138

Unit No.: 136

Name and of the owner

Mr. Vinod Kishanchand Chelani

Since how long owing the property

In year 2014 through Registered sale deed

Whether joint/ co-ownership/ other

In case of joint ownership, please furnish shares of each owner and whether the share are undivided?

Whether assessed to wealth tax, if so wealth tax paid

Corporation Tax paid

Receipt is no on record

Agreements of easements if any and if so attach copies

Restrictive clauses as to uses, if any (whether building use certificate from corporation has been obtained, etc.)

Commercial Purpose, Construction permission is obtained from Ahmedabad Municipal Corporation Vide Permission No:

Rajachitthi No: 31887/020810/A8809/R1/M1, Case No: BLNTI/NZ/020810/P/A8809/R1/M1, Dated: 16/03/2013, &

Rajachitthi No: 19986/020810/A8810/R1/M1, Case No: BLNTI/NZ/020810/P/A8810/R1/M1, Dated: 15/04/2011, &

Rajachitthi No: 31888/020810/A8811/R1/M1, Case No: BLNTI/NZ/020810/P/A8811/R1/M1, Dated: 16/03/2013. &

Rajachitthi No: 31889/020810/A8812/R1/M1, Case No: BLNTI/NZ/020810/P/A8812/R1/M1, Dated: 16/03/2013.

Rajachitthi No: 31890/020810/A8813/R1/M1, Case No: BLNTI/NZ/ 020810/P/A8813/R1/M1, Dated: 16/03/2013.

Location advantages/ disadvantages

Schools, Residential Societies, Markets, Bus Stand, etc. are available within walkable distance

Classification of Locality – Higher Class/ Middle Class/ Poor Class

Higher class Commercial area

Civic Amenities

All located within 1 to 2 kms

Proximity of surface communication

The property is situated at on Internal Road

Distance from city/ Municipal limits

Within Ahmedabad Municipal Corporation limits

If the property is not within the city/ town Municipal limits then state the distance of the property from the Municipal

Within city limits

Municipal limits

Within Municipal Corporation limits

Disadvantages if any to be specified

Nil

Title to the property

Whether freehold

Yes, freehold

If not freehold, what is unexpired period of Lease?

If leasehold, name of the lessor/ lessee nature of lease, date of commencement

Rent per annum

Unearned increases payable to the lessor in the event of safe or transfer

Type of Property - whether

Agriculture

Industrial

Residential (Flat Apartment) (any restrictive clauses for sale, etc. to be furnished) renewal of lease

Commercial

Yes, Commercial Office

Institutional

Others (Specify)

What is the -

Year of acquisition purchase of land

In year 2014 through Registered sale deed

Value/ purchase price paid

Rs. 1.509 Millions as per registered sale deed No: 8321, Dated: 18/11/2014

Year of construction of super structure/ purchase of building

In Year 2013

Numbers of floors/ storeys

Basement, Ground floor and upper 4 storeys building but subject property is situated at First Floor

Year of completion

In Year 2013

Cost for construction. Purchase price

As per Construction Agreement

Additions/ improvements carried out if any state briefly nature of additional cost there of

As per valuation

Estimate future life

Approx. 60 Years

Area of land to be supported by a map showing shape, dimensions, physical features

Undivided share of Land

Has the whole or part of the land been notified for acquisition by Government or statutory body: if so give details

Area of Building/ constructed portion (State separately for factory, Admn. Building, Staff Quarters, etc.)

Super Built up area in Sq. mtr. i.e. in Sq. Feet

Office No: 137 39.95 i.e. 430.02

Total 39.95 i.e. 430.02

Type/ Class of construction

RCC Frame structure

Service items available (list of all the items to be provided-such as bore-well sump embedded. Motors, BMC water supply, sanitary disposal systems, canteen stores etc.)

Water connection is provided by apartment borewell and Drainage is connected to public sewer

If the property is industrial

State for what type of activity/ industry the -

Sanctioned/ connected power load

Type of activity presently going on at the premises

Whether the property is residential flat apartment if so, then state:

When the building was constructed

Whether full consideration has been paid and proper title documents obtained and produced for verification?

In which floor/ storey, flat is located

If the property is of a commercial type state

Yes

For what purpose the same is well suited

(Office purpose/ business, etc.)

Any type of office purpose

The present activity/ business being

Use as an office purpose (Proposed)

If the property is agriculture state

Whether dry of wet lands

Migration facility available

Type of crops grown and annual yield income

Whether building/ property is constructed strictly according to the sactioned plan details of variation, noticed if any and effect of the same on the valuation to be dealt with specifically

Commercial Purpose, Construction permission is obtained from Ahmedabad Municipal Corporation Vide Permission No:

Rajachitthi No: 31887/020810/A8809/R1/M1, Case No: BLNTI/NZ/020810/P/A8809/R1/M1, Dated: 16/03/2013, &

Rajachitthi No: 19986/020810/A8810/R1/M1, Case No: BLNTI/NZ/020810/P/A8810/R1/M1, Dated: 15/04/2011, &

Rajachitthi No: 31888/020810/A8811/R1/M1, Case No: BLNTI/NZ/020810/P/A8811/R1/M1, Dated: 16/03/2013. &

Rajachitthi No: 31889/020810/A8812/R1/M1, Case No: BLNTI/NZ/020810/P/A8812/R1/M1, Dated: 16/03/2013.

Rajachitthi No: 31890/020810/A8813/R1/M1, Case No: BLNTI/NZ/ 020810/P/A8813/R1/M1, Dated: 16/03/2013.

Whether the property is self-occupied or tenanted/ let out, if tenanted/ let out

Vacant at time of valuation

Since how long

To how many tenants

What is the total monthly income

If party owner occupied specify portion and extent of area under owner

Vacant

Whether the said property was valued earlier? If so,

N.A.

Basis of present valuation

Market value

Rate adopted

Rs. 6500.00 per Sq. feet for land and building

Basis for adopted rates

By inquiry in surrounding

Whether the adopted rates are commensurate with the rates adopted by the registrar’s office? In case of wide variation, please specify reasons

Yes, wide variation is observed because rates fixed by registrar’s Office are not based on scientific studies and same cannot be applicable for ascertaining present market value

Whether the adopted rates have any relationship with those adopted by

They have adopted rates as per open market in area

Incase of increase in present valuation over the previous valuation, then furnish the specific reasons, basis for the increase in value and the details of variation

In case the Bank were to sell the property what would be approximate realizable value

85 to 90 % as per valuation

VALUATION

Valuation statement for the market value of commercial office situated at : R S No: 172/1 paiki 173 paiki, C S No: 2453, T P S No: 16, F P No: 62, Sub Plot No: 1, Unit No: 137, First Floor, (As per unit No: 37), Block No: C, “SUMEL BUSINESS PARK - 4”, B/h: Amadupura – Kalupur Bridge, At: Shaher Kotda, Ahmedabad.

The methodology adopted is market approach method in which due weight ages have been given to factors like. Includes value of appurtenant land and its development, infrastructure development etc.

Sale instance for composite rate are not available, making verbal inquiries in the surrounding areas and taking into consideration its present condition, situation, locality, quality and nature of construction, amenities and facilities provide, etc. its depreciated replacement composite rate inclusive of appurtenant land area is considered as below.

Following factors are considering for valuation of building.

The methodology adopted is market approach method in which due weight ages have been given to factors like

· Size and locality, tenure of the building, user,

Utility and design of building structures

Actual physical condition, state of repairs and maintenance

Type of construction general and special specifications.

Age, remaining useful economic life of the structure,

Demand for such structures

Limited marketability of such structure

Cost of building materials and related construction supplies in the surrounding area.

BRIEF DESCRIPTION OF THE PROPERTY:

The subject property is a commercial office situated at: 172/1 paiki 173 paiki, C S No: 2453, T P S No: 16, F P No: 62, Sub Plot No: 1, Unit No: 137, First Floor, (As per unit No: 37), Block No: C, “SUMEL BUSINESS PARK - 4”, B/h: Amadupura – Kalupur Bridge, At: Shaher Kotda, Ahmedabad.

The situation of the property is well suited for any type of office purpose. Market approach of valuation is adopted for the valuation of commercial office.

The property under valuation is commercial office having construction at First floor of the building having Constructed at Basement, Ground Floor and upper 4 storeys building.

The building is frame structure type construction. The gaps between the columns are filled up with brick masonry wall in cement mortar with smooth plaster inside and plastered outside. The roof is constructed of 4” thick RCC slab. The flooring is done with Vitrified tiles. The electrification is of concealed type. Water supply is provided by apartment bore well and Drainage is connected tc public sewer. M S Rolling Shutters are available. The construction of the building is safe, sound and as per Indian standard.

In order to estimate the prevailing market value in the vicinity of the said property market enquiry was conducted amongst:

· Property Brokers

Real Estate Agents and

Occupants of the other existing property holders

It reveals that the flat is offices in nearby area in range of Rs. 5000.00 to Rs. 10000.00 Per Sq. feet depending upon its size, shape, location, access from main road, frontage etc.

Considering above and keeping in view location, size, frontage, Distance from the main road, demand and supply in the said area, they have adopted the market rate for property at Rs. 6500.00 per Sq. feet which is quite fair and justified.

Land Value : Flat Rate Considered

Present Market Value

Office No: 137	430.02 Sq. feet	@ Rs. 6500.00 per Sq. feet	Rs. 2.795 Millions

		Total	Rs. 2.795 Millions

		Say Rs.	Rs. 2.795 Millions

Different Value of the Property

Present Market Value	Rs. 2.795 Millions

Realizable Value	Rs. 2.585 Millions

Distress Sale Value	Rs. 2.376 Millions

The value of Land and Building as per Stamp duty Department (Exclusively meant for stamp duty purpose) Basis of Valuation as per Mumbai Stamp Duty Act 1958 Section 32/C, (Does not represent the market value)	Rs. 0.599 Millions

Jantri Value	39.95 Sq. mt	@ Rs. 15000.00 per Sq. mt.	Rs. 0.599 Millions

		Total Jantir Value is Rs.	Rs. 0.599 Millions

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PROFILE

Subject is a proprietorship firm established during the financial year 2010-11. Mr. Vinod Kishanchand chelani is proprietor of the firm enjoying vast experience of more than 5 years in this line of business. Prior to starting his own business under the name and style of Subject, he worked as a commission agent in various markets. Mr. Vinod Kishanchand Chelani was engaged in this trade since 2008 under his leadership firm have earned an enviable position in this trade and captures various orders from reputed and non- reputed clients located in Gujarat. The firm is engaged in business of trading and manufacturing of various types of fabrics used in manufacturing of ladies leggings, Nighties and Kids night wear and hosiery items. The firm is having own manufacturing set up and certain operations are outsourced. Subject is well-known traders across the city and out-skirts of Ahmadabad. The firm is having its office at B-93, Maruti Industrial Estate, Opposite Fire Station, Near Memco Circle, Ahmedabad – 380025. During the current financial year 2014-15 the firm has decided to venture into in-house manufacturing of grey cloth and recently installed one knitting machine to start own knitting process. During the start-up days of learning Mr. Vinod Kishanchand Chelani had established great relations with various big and small players of the trade located around various parts of Gujarat. Earlier, due to inadequate resources and exposure to modern time's developments they were exclusively involved in trading. Now the situation has changed, as a part of their growth and expansion exercises and endeavor during the current financial year 20l4-15 they have ventured into in-house manufacturing of grey cloth and have installed one machine in their factory premise and the same will add growth and stability to the operations of the firm. They have employed in their work group, line of proficient staff and skilled personnel. The firm believes in building long-term relationship with their clients by offering them high product quality, pro-active customer service, timely delivery and competitive price. They have estimated to achieve sales of Rs.75.000 Millions during the current financial year.

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FIXED ASSETS

· Furniture and Fixtures

Vehicle

Plant and Machinery

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.63.64
UK Pound	1	Rs.98.98
Euro	1	Rs.77.74

INFORMATION DETAILS

Information Gathered by :	HNA

Analysis Done by :	DIV

Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

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

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

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

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT

8.311

8.124

1.084

0.717

0.025

2.220

0.000

0.000

0.000

0.000

9.420

11.061

6.547

7.110

0.085

0.103

0.000

0.000

6.632

7.213

2.788

3.848

14.78

11.51

0.35

0.33

0.00

0.00

1.42

1.53

Unit