MIRA INFORM REPORT

Report Date :

21.07.2014

IDENTIFICATION DETAILS

Name :	JENEE CREATION
Registered Office :	10/11, Ground Floor, Shamjikrupa Industries Estate, Sugar Factory Road, Sayan, Surat – 394130, Gujarat
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	May, 2012
Capital Investment / Paid-up Capital :	Rs.1.305 Millions
IEC No.:	5214003897
PAN No.: [Permanent Account No.]	BQWPS2018B
Legal Form :	Sole Proprietary Concern
Line of Business :	Manufacturer and Trader of Art Silk Cloth.
No. of Employees :	15 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a relatively new proprietary concern having moderate track. The concern has achieved a minimal sales turnover from its operations. However, trade relations are reported to be improving. Business is active. Payment terms are reported to be slow but correct. The concern can be considered for business dealing with some cautions.

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 – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

NEWS

The economy grew 4.7 %in 2013/14, marking a second straight year of sub-5 % growth – the worst slowdown in more than a quarter of a century. The data was below an official estimate of 4.9 % annual growth and compared with 4.5 % in the last fiscal year. However, the current account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before. A sharp fall in gold imports due to restrictions on overseas purchases and muted import of capital goods helped shrink the current account deficit.

Online retailer Flipkart has acquired fashion portal Myntra as it prepares to battle with the rapidly expanding India arm of the global e-commerce giant Amazon. The company raised $ 210 million from Russian Investment firm DST Global which has also invested in companies like Facebook, Twitter and Alibaba Group.

General Motors will start exporting vehicles from its Talegaon plant near Pune in the second half of 2014. GM was one of the few global carmakers that was using its India plant only for the domestic market.

Google has overtaken Apple as the world’s top brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.

Infosys lost another heavy weight when B G Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V Balakrishnan being the other two. While Vemuri went on to lead IGate, Balakrishnan joined politics.

Naresh Goyal – promoted Jet Airways posted biggest quarterly loss – Rs.2153.37 crore – in the three months ended March 31, mainly because it has been offering discounts to passengers to fill planes.

William S Pinckney – Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in connection with a complaint against the direct selling firm. This is the second time that he has been taken into custody. A year, ago the Kerala Police had arrested Pinckney and two company directors on charges of financial irregularities.

China has told its state-owned enterprises to sever links with American consulting firms after the United States charged five Chinese military officers with hacking US companies. China’s action which targets consultancies like McKinsey & Co. and the Boston Consulting Group, sterns from fears that the first are providing trade secrets to the US governments.

India has emerged as a country with some of the highest unregistered businesses in the world. Indonesia has the maximum number of shadow businesses, says a study of 68 countries by Imperial College Business School in London.

Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55 pounds a share.

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. Ishan Vinubhai Savani
Designation :	Proprietor
Contact No.:	91-9712750605
Date :	18.07.2014

LOCATIONS

Registered Office/ Factory :	10/11, Ground Floor, Shamjikrupa Industries Estate, Sugar Factory Road, Sayan, Surat – 394130, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-9712750605 (Mr. Ishan Vinubhai Savani)
Fax No.:	Not Available
E-Mail :	krajeshrathi@yahoo.co.in
Location :	Rented

SOLE PROPRIETOR

Name :	Mr. Ishan Vinubhai Savani
Designation :	Proprietor
Address :	Flat No.D1, 402, Abhishek Residency – 2, Mota Varachha, Surat, Gujarat, India
Date of Birth/Age :	25.03.1987
Qualification :	B. Com
Experience :	2 years

BUSINESS DETAILS

Line of Business :	Manufacturer and Trader of Art Silk Cloth.
Terms :
Selling :	Cash and Credit (60 days)
Purchasing :	Cash and Credit (30 days)

PRODUCTION STATUS (AS ON 31.03.2014)

Particulars	Installed Capacity	Actual Production
Art Silk Cloth	100%	67% (Approx)

GENERAL INFORMATION

Customers :	Wholesalers and Others
No. of Employees :	15 (Approximately)
Bankers :	· Bank of India Surat Main Branch, Surat, Gujarat, India (Current Account) · Axis Bank Limited Palanpur Patia Branch, Surat, Gujarat, India (Current Account)
Facilities :	--

Banking Relations :	--
Auditors :	Not Available (Note: Not Audited as turnover was below the audit limit)

CAPITAL STRUCTURE

(AS ON 31.03.2014)

Capital Investment :
Owned :	Rs.1.305 Millions
Borrowed :	--
Total :	Rs.1.305 Millions

FINANCIAL DATA

[All figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Share Capital		1.305	1.130
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.325	0.260
4] (Accumulated Losses)		0.000	0.000
NETWORTH		1.630	1.390
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		1.630	1.390
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.470	1.034
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	0.560	0.387
	Cash & Bank Balances	0.076	0.245
	Other Current Assets	0.000	0.000
	Loans & Advances	0.000	0.000
Total Current Assets		0.636	0.632
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.476	0.476
	Other Current Liabilities	0.000	0.000
	Provisions	0.000	0.000
Total Current Liabilities		0.476	0.276
Net Current Assets		0.160	0.356
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		1.630	1.390

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013
	SALES
		Income	2.312	1.821
		Other Income	0.000	0.000
		TOTAL (A)	2.312	1.821
Less	EXPENSES
		Cost of Goods	1.382	1.084
		Administrative Expenses	0.347	0.297
		TOTAL (B)	1.729	1.381
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.583	0.440
Less	FINANCIAL EXPENSES (D)		0.000	0.000
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.583	0.440
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.258	0.180
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		0.325	0.260
Less	TAX (H)		0.000	0.000
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		0.325	0.260

The above information has been parted by Mr. Ishan Savani.

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

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
PAT / Total Income	(%)	14.06	14.28
Net Profit Margin (PBT/Sales)	(%)	14.06	14.28
Return on Total Assets (PBT/Total Assets}	(%)	15.43	15.61
Return on Investment (ROI) (PBT/Networth)		0.20	0.19
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00
Current Ratio (Current Asset/Current Liability)		1.34	2.29

FINANCIAL ANALYSIS

[All figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(INR in Mlns.)	(INR in Mlns.)
Share Capital	1.130	1.305
Reserves & Surplus	0.260	0.325
Net worth	1.390	1.630
long-term borrowings	0.000	0.000
Short term borrowings	0.000	0.000
Total borrowings	0.000	0.000
Debt/Equity ratio	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(INR in Mlns)	(INR in Mlns)
Sales	1.821	2.312
		26.963

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(INR in Mlns)	(INR in Mlns)
Sales	1.821	2.312
Profit	0.260	0.325
	14.28%	14.06%

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	No
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 two years	Yes
12]	Profitability for last two years	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	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	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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

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

COST OF PROJECT

(RS. IN MILLIONS)

Particulars	Existing Set Up	Proposed Extension	Total After Extension
Fixed Assets
Land and Building	--	--	--
Furniture	0.018	--	0.018
Plant and Machinery	1.446	4.898	6.344
	1.464	4.898	6.362
Working Capital Margin
Current Assets Less Current Liabilities	0.166	0.102	0.268
Total	1.630	5.000	6.630

MEANS OF FINANCE

(RS. IN MILLIONS)

Particulars	Existing Set Up	Proposed Extension	Total After Extension
Capital A/c
Capital Account	1.60	1.000	2.630
Loan Funds
Term Loan	--	3.500	3.500
Unsecured Loans	--	0.500	0.500
Others	--	--	--
Total	1.630	5.000	6.630

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PROJECTED BALANCE SHEET

(RS. IN MILLIONS)

LIABILITIES	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019
	PROJECTED
Prop. Capital A/c
Capital	2.630	3.074	3.592	4.132	4.740
Profit During the Year	0.444	0.819	0.940	1.108	1.340
Total	3.074	3.893	4.532	5.240	6.080
Less: Drawing	--	0.300	0.400	0.500	0.600
Total	3.074	3.592	4.132	4.740	5.479
Loan Funds
Secured Loan
Term Loans	2.455	1.717	0.979	0.241	--
Unsecured Loan	0.500	0.500	0.500	0.500	0.500
Current Liabilities and Provision
Sundry Creditors	1.669	2.258	2.379	2.504	2.635
Loan Repayable Within A year	0.738	0.738	0.738	0.738	0.241
Total	8.435	8.805	8.727	8.722	8.855
ASSETS
Fixed Assets
Gross Block	6.362	5.409	4.598	3.909	3.323
Less: Depreciation	0.953	0.811	0.689	0.586	0.498
Net Block	5.409	4.598	3.909	3.323	2.825
Investments	--	--	--	--	--
Current Assets, Loans and Advances
Inventories – Raw Materials	1.669	2.258	2.379	2.504	2.635
Sundry Debtors	0.980	1.330	1.400	1.480	1.550
Loans and Advances	0.200	0.500	0.800	1.200	1.600
Cash and Bank Balance	0.177	0.119	0.239	0.215	0.245
Total	8.435	8.805	8.727	8.722	8.855

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PROJECTED PERFORMANCE AND PROFITABILITY STATEMENT EMBROIDERY MACHINES

(RS. IN MILLIONS)

Particulars	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019
	PROJECTED
Job Charges	23.595	31.928	33.612	35.414	37.261
Other Income	0.137	0.171	0.127	0.833	0.038
Total Income (A)	23.732	32.099	33.739	35.496	37.300
Cost of Production
Raw Materials consumed	20.027	27.094	28.543	30.050	31.623
Power and Fuel	0.647	0.888	0.948	0.993	1.031
Direct Labour and Wages	1.098	1.445	1.553	1.670	1.795
Repairs and Maintenance	0.050	0.150	0.175	0.200	0.125
Deprecation	0.953	0.811	0.689	0.586	0.498
Total Expenditure (B)	22.775	30.388	31.908	33.499	35.072
Gross Profit (A-B)	0.957	1.711	1.831	1.997	2.228
Selling and Adm. Expenses	0.200	0.500	0.600	0.700	0.800
Profit Before Interests and Tax	0.757	1.211	1.231	1.297	1.428
Interests	0.314	0.392	0.291	0.190	0.088
Net Profit	0.444	0.819	0.940	1.108	1.340
Depreciation Added Back	0.953	0.811	0.689	0.586	0.498
Net Cash Accruals	1.397	1.630	1.629	1.694	1.838

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STATE OF CASH FLOW

(RS. IN MILLIONS)

Particulars	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019
	PROJECTED
A. SOURCES OF FUNDS
Opening Cash and Bank Balance	0.076	0.177	0.119	0.239	0.215
Other Income	0.137	0.171	0.127	0.083	0.038
Recovery from Debtors	23.175	31.578	33.542	35.334	37.191
Increase in Capital	1.000	--	--	--	--
Increase in Long Term Loans	3.500	--	--	--	--
Increase in Unsecured Loans	0.500	--	--	--	--
Total	28.388	31.926	33.788	35.655	37.445
B. APPLICATION OF FUNDS
Drawings	--	0.300	0.400	0.500	0.600
Purchase of Fixed Assets	4.892	--	--	--	--
Increase in Investment	--	--	--	--	--
Repayment of Installment	0.308	0.738	0.738	0.738	0.738
Interests Payment	0.314	0.392	0.291	0.190	0.088
Increase in Loan and Advance	0.200	0.300	0.300	0.400	0.400
Payment to Creditors
For Goods	20.503	27.094	28.544	30.050	31.623
For Power and Fuel	0.647	0.888	0.948	0.993	1.031
For Direct Labour and Wages	1.098	1.445	1.553	1.670	1.795
For Repairs and Maintenance	0.050	0.150	0.175	0.200	0.125
For Selling and Adm. Expenses	0.200	0.500	0.600	0.700	0.800
Closing Cash and Bank Balance	0.177	0.119	0.239	0.215	0.245
Total	28.389	31.926	33.788	35.656	37.445

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BREAK EVEN ANALYSIS

(RS. IN MILLIONS)

Particulars	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019
	PROJECTED
Variable Costs
Raw Materials Consumed	20.027	27.094	28.543	30.050	31.623
Power and Fuel	0.647	0.888	0.948	0.993	1.031
Direct Labour and Wages	1.098	1.445	1.553	1.670	1.795
Repairs and Maintenance	0.050	0.150	0.175	0.200	0.125
Selling and Administrative Expenses	0.180	0.450	0.540	0.630	0.720
Total Variable cost	22.002	30.027	31.759	33.543	35.294
FIXED COSTS
Selling and Administrative Expenses	0.020	0.050	0.060	0.070	0.080
Depreciation	0.953	0.811	0.689	0.586	0.498
Interests	0.314	0.392	0.291	0.190	0.088
Total Fixed Cost	1.287	1.253	1.040	0.846	0.666
Total cost	23.289	31.280	32.799	34.389	35.960
Selling and Other Income	23.732	32.099	33.739	35.496	37.300
Net Profit	0.444	0.819	0.940	1.108	1.340
Contribution	1.730	2.072	1.980	1.953	2.006
(sales-Variable Costs) or (Net Profit + Fixed Cost)
Contribution in Percentage	7.29%	6.46%	5.87%	5.50%	5.38%
Break Even Point Annual Fixed Cost Contribution	74.37%	60.49%	52.53%	43.29%	33.21%

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COMPUTATION OF TOTAL INCOME

(MR. ISHAN VINUBHAI SAVANI)

(RS. IN MILLIONS)

Particulars	2012-2013
INCOME FROM BUSINESS OR PROFESSION
Net Profit as per Profit and Loss A/c	0.203
Add: Disallowable / Additions - Depreciation	0.153
Total		0.356
Gross Total Business Income		0.356
Less: Business Deductions: Current depreciation U/s 32(1)	0.153
TOTAL BUSINESS INCOME		0.203
GROSS TOTAL INCOME		0.203
Deduction Under Chapter VI - A
Deduction U/s 80C
Life Insurance Premium (LIP)	0.024
		0.024
Allowable Deduction u/s 80C
Total VI-A Deduction		0.024
Total Income		0.179
Rounded Off u/s 288A		0.179

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

(MR. ISHAN VINUBHAI SAVANI)

ABRIDGED BALANCE SHEET

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.03.2012
SHAREHOLDERS FUNDS
1] Share Capital		1.209
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		1.209
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		1.209
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.875
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.306
	Cash & Bank Balances	0.218
	Other Current Assets	0.000
	Loans & Advances	0.000
Total Current Assets		0.524
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.190
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.190
Net Current Assets		0.334
MISCELLANEOUS EXPENSES		0.000
TOTAL		1.209

PROFIT & LOSS ACCOUNT

(RS. IN MILLIONS)

	PARTICULARS		31.03.2012
	SALES
		Embroidery Job Work Income	1.381
		Other Income	0.000
		TOTAL	1.381
Less	EXPENSES
		Purchase	0.541
		Labour Charges	0.145
		Salaries and Wages	0.214
		Rents	0.084
		Light Ball Expenses	0.018
		Stationery and Printing Expenses	0.001
		Miscellaneous Expenses	0.007
		Conveyance Expenses	0.008
		Telephone Expenses	0.005
		Accounting Fees	0.002
		TOTAL	1.025
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		0.356
Less/ Add	DEPRECIATION/ AMORTISATION		0.153
	NET PROFIT DURING THE YEAR		0.203

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

NETWORTH STATEMENT

(MR. ISHAN VINUBHAI SAVANI)

(RS. IN MILLIONS)

BANK ACCOUNT

Bank	Branch	SB/C/D A/c No.	Present Balance	Last 6 Month Average Bal
SBI	Begumpura Branch, Surat	86031229106	0.026	0.026

DETAILS OF ASSETS

IMMOVABLE PROPERTY

Assets	Own/ Joint Name	Freehold/ Leasehold	Location/ Address	Purchases Cost	Present Value
Residence House	Own	Freehold	Flat No.D-1, 402 Abhishek Resi-2, Mote Varachiva Surat, Gujrat, India	0.813	3.607
Total					3.607

MOVABLE PROPERTY

CAPITAL INVESTED IN BUSINESS

Name of Firm/ Company	Amount
Jenee Creations	1.630

LEGAL HEIRS/ FAMILY PARTICULARS

Name	Occupation	Relation	Age	Material Status	Address
Daya Ishan Savani	House Wife	Wife	26	Married	Flat No.D-1, 402. Abhishek Resi-2, Mota Varachha, Surat, India
Janee ishan Savani	Study	Daughter	4	--
Aaradhy Ishan Savani	--	Son	1	--

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

VALUATION REPORT

PART – I QUESTIONNAIRE

Purpose for which valuation is made

To estimate present market value for financial assistance by the Bank of India

Date of valuation

04.07.2014

Name of the owner/ Owners

Mr. Ishanbhai Vinubhai Savani

Brief Description of the Property

Subject property is a residential Flat No.402 on 4^th Floor of Building No. ”D/1” in Abhishek Residency 2, Near Sudama Chowk, Mota Varachha Surat, Gujarat, India

Location, Street, Ward No., Survey / Plot No. of Land

Moje: Mota Varachha, R. S. 258, Block No.247, T. P. S. No. 24 (Mota Varachha Uttran), F. P. No.108, Flat No.402, 4^th Floor, Building No.”D/1”, Abhishek Residency – 2”, Near Sudama Chowk, Mota Varachha Surat, Gujarat, India

Four Side Boundary

East: Building No. C/2

West: Building No. D/2

North: Internal Road

South: Road

Is the Property situated in Residential/ Commercial/ Mixed Area/ Industrial Area

Residential Area

Classification of Locality – High Class/ Middle Class etc.

Middle Class

Proximity to civic amenities like Schools, Hospitals, Banks. Market etc.

Available Within Area

Means and Proximity to surface Communication by which the locality is served.

By means of any private or public vehicles

LAND

Area of Land Supported by documentary proof, shape, dimensions and physical features.

Built up Area = 937 sq. ft. i.e. 87.08 sq. mt.

1445 sq. ft. (Super Built up area as per prevailing market transaction and as per verbal information from Owner)

If leasehold, the name of lesser/ lessee Nature of lease, date of commencement and termination of lease of renewal of lease

Not Applicable

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

Yes. It is to be used as per zoning regulation of concede authority.

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

T. P. S. No.24 (Mota Varachha Uttran) is applicable to this area

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

Not Applicable

IMPROVEMENTS

Attach plan and elevations of all structures standing on the land and a layout plan

Property Drawings are not available.

Is the Building Owner – Occupied/ Tenanted/ Both

Owner Occupied

What is the Floor space Index Permissible and Percentage actually utilized?

Permissible F.S.I. is 1.8 with 45% Ground Coverage

RENTS

Give details of water and electricity to be born by the owner

Not Applicable

Who has to bear the cost of Electricity Charges

Not Applicable

What is the amount of property tax? Which is the bear it?

Not Applicable

SALES

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

Level

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

Rs.3,850/- sq. ft. (Built up area rate)

Rs.8,500/- sq. mt. i.e. Rs.789 sq. ft. (Rate for stamp duty valuation of the new residential flat)

If sale instance are not available or not the basis of arriving at the land rate

--

CONSTRUCTION

Year of commencement of construction Year of completion

2011 vide construction permission rajachiththi E.Z./T.D.O. No.03 dated 19.04.2011.

What was the method of construction-by Contract! by employing labour directly/ Both?

Not Applicable as valuation is for determining the market value of property as on 04.07.2014.

TECHNICAL DETAILS

No. of Floors and height of each floor

Residential Purpose

Plinth area floor - wise (As per IS 3861 -:- 1966)

--

Year of construction

2011 vide construction permission rajachiththi E.Z./T.D.O. No.03 dated 19.04.2011.

Estimated future life

52 years

Type of construction -load bearing Walls/ R.C.C. Frame/ Steel frame

R.C.C. Frame Structure

Type of foundation

--

Walls

Basement

Ground floor

Super Structure above

--

Ground floor + 5 upper floor only

--

Partitions

Internal walls have 4.5” Thickness

Door and Windows

Wooden teakwood frame with flush shutter as door and all section windows provided.

Flooring (Floor Wise)

Vitrified tiles provided as flooring materials

Finishing (Floor Wise)

On inside wall smooth cement plaster and luster paint and outside wall rough sand plaster provided

Roofing and Terracing

RCC Slab

Special architectural or decorative features, if any

Simple elevation provided

(i) Internal wiring – Surface/ Conduit Wiring

ii) Class of fittings: Superior/Ordinary/Poor

Conceal

Ordinary

Sanitary installation

No of water Closets

No of Toilet

No of Sinks

No of bath tubs – Wash Basin

In bath, W.C. Full ht Dedo provided of glazed tiles.

Compound wall

-Height and length

-Type of Construction

Complex Compound wall Provided

No of Lift and Capacity

Provided

Underground Sump Capacity and Type of Construction

1 Sump provided

Overhead Tank

Where located

Capacity

Type of Construction

2 Overhead Tank Provided

Pump No and their horse power

1 Pump Provided

Roads and paving within the compound

Paved with paving tiles

Sewage disposal - whether connected to public sewers. If septic tanks provided, No. and capacity.

Road Side drainage provided by SMC

Market Value of flat = 937 sq. ft. x Rs.3,850/- sq. ft. = Rs.3.608 Millions

Realisable value (15% less Then above value) = Rs.3.066 Millions

Distress value (30% less then above value) = Rs.2.525 Millions

Insurable Value = 937 sq. ft. X Rs.1000/- sq. ft. = Rs.0.937 Million

Description	Value of Adopting GLR (Juntry Rate)
Land	NA
Building	Rs.8,500/- sq. mt i.e. Rs.789 sq. ft. 937 sq. ft. x Rs.789 sq. ft. =Rs.0.739 Million
Total	Rs.0.739 Millions

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

TRADE REFERENCE

· Soham Fabrics

1003-04, Annapurna Textile Market, Ring Road, Surat, Gujarat, India

Contact No.: 91-8000340710

(Proprietary – Mr. Piyush Balar)

· Ganesh Thread

13-14, Ra, Nagar, Hirabaug, Varachha Road, Surat, Gujarat, India

Contact No.:91-9924599858

(Proprietor – Mr. Harshadbhai Savani)

· Latest Jari

53-54, Javahar Society, L. H. Road, Surat, Gujarat, India

Contact No.:91-9638283020

(Proprietor – Dineshbhai Savani)

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

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.14
UK Pound	1	Rs.103.00
Euro	1	Rs.81.33

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	RAS
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--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		26

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.