MIRA INFORM REPORT

Report Date :

27.11.2014

IDENTIFICATION DETAILS

Name :	GENTRUST CONSUMER DURABLES PRIVATE LIMITED

Registered Office :	A-34, Navyug Niwas, 4th Floor, Opposite Minerva Talkies, 167, Lamington Road, Mumbai - 400007, Maharashtra

Country :	India

Date of Incorporation :	22.07.2014

Com. Reg. No.:	11-256289

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

CIN No.: [Company Identification No.]	U36912MH2014PTC256289

IEC No.:	0314043683

TAN No.: [Tax Deduction & Collection Account No.]	MUMG17620B

PAN No.: [Permanent Account No.]	AAFCG6680C

Legal Form :	Private Limited Liability Company

Line of Business :	Trading of Consumer Durables.

No. of Employees :	4 (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 on 22.07.2014 and it is establishing itself gradually. Mr. Pranav Parikh, Director has provided general information and also informed that company has not commenced its business activity yet. Payment terms are unknown. The company can be considered for business dealings on a 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 [GENERAL DETAILS]

Name :	Mr. Pranav Vipinchandra Parikh
Designation :	Director
Contact No.:	91-9930222000
Date :	26.11.2014

LOCATIONS

Registered Office/ Factory :	A-34, Navyug Niwas, 4th Floor, Opposite Minerva Talkies, 167, Lamington Road, Mumbai - 400007, Maharashtra, India
Tel. No.:	91-22-23079327
Mobile No.:	91-9930222000 [Mr. Pranav Vipinchandra Parikh]
Fax No.:	Not Available
E-Mail :	pranavsemail@gmail.com pranavsinfo@gmail.com kunal@pmdharia.com
Location :	Owned

DIRECTORS

AS ON 03.07.2014

Name :

Mr. Pranav Vipinchandra Parikh

Designation :

Director

Address :

Ashok Garden, 23^rd Floor, D-2305, Tokersey Jivrji Road, Swan Mill Compound, Sewree, Mumbai – 400015, Maharashtra, India

Date of Birth/Age :

17.04.1973

Qualification :

MBA

Experience :

More than 10 Years

Date of Appointment :

22.07.2014

PAN No.:

ACZPP3904D

Profile :

Mr. Pranav Parikh (key promoter/ director with 100% shareholding) has 14 years’ experience was the managing director of Q-India Investment Advisors for the last 8 years. Serves as a member of board of directors of various private and listed companies, actively involved in formulating forward looking strategies, acquisitions and fund raising initiative. CFA, MBA from the university if taxes, Recipient of India Private Equity Deal Maker of the year 2009 Global M and A network, NY.

DIN No.:

00025654

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U67190MH2005PTC156790	Q INDIA INVESTMENT ADVISORS PRIVATE LIMITED	Managing director	26/10/2005	26/10/2005	01/01/2013	Active	NO
2	U45200HR2005PTC043336	MCCOY DEVELOPERS PRIVATE LIMITED	Director	20/06/2007	01/09/2006	27/05/2009	Active	NO
3	U55100HR2006PTC043337	ATC INDIA TOWER CORPORATION PRIVATE LIMITED	Director	20/09/2007	01/09/2006	27/05/2009	Active	NO
4	U01122KA2002PTC030638	CALYPSO FOODS PRIVATE LIMITED	Director	14/02/2007	14/02/2007	-	Active	NO
5	U74899DL1992PLC051124	SHAKTI BHOG FOODS LIMITED	Nominee director	29/09/2007	01/03/2007	31/12/2012	Active	NO
6	U04520KA2005PTC036737	MALNAD PROJECTS PRIVATE LIMITED	Director	29/09/2007	15/03/2007	08/10/2012	Active	NO
7	U74899GJ1995PTC079522	LONG VIEW FINANCIAL SERVICES PRIVATE LIMITED	Director	07/07/2008	15/05/2007	01/02/2012	Active	NO
8	U67100MH2007PTC172621	RENAISSANCE FINANCIAL ANALYTICS PRIVATE LIMITED	Director	26/07/2007	26/07/2007	-	Active	YES
9	U55101GJ2007PTC051599	FINE DINE RESTAURENTS PRIVATE LIMITED	Director	24/08/2007	24/08/2007	06/09/2007	Active	NO
10	U64203PB2005PTC028064	TICS TELECOM TOWERS PRIVATE LIMITED	Director	03/09/2008	19/11/2007	27/05/2009	Amalgamated	NO
11	U67120MH1995PTC197293	INFIMAX FINANCE PRIVATE LIMITED	Director	14/07/2011	02/08/2010	01/10/2012	Active	NO
12	U70109MH2007PTC172681	REAL-T PRIVATE LIMITED	Director	29/09/2012	14/09/2012	-	Active	NO
13	U45205KA2011PTC060424	ECO-BUILD SUSTAINABLE PRODUCTS PRIVATE LIMITED	Director	23/01/2013	01/01/2013	-	Active	NO
14	U35100MH2011PTC215631	BARON LUXURY AND LIFESTYLES PRIVATE LIMITED	Director	30/09/2013	16/07/2013	-	Active	NO
15	U74999MH2014PTC254639	FOUNTAINHEAD VENTURES PRIVATE LIMITED	Director	19/03/2014	19/03/2014	-	Active	NO
16	U74120MH2014PTC255161	ALTERNATIVE INVESTMENT MARKET ADVISORS PRIVATE LIMITED	Director	29/03/2014	29/03/2014	-	Active	NO
17	U36912MH2014PTC256289	GENTRUST CONSUMER DURABLES PRIVATE LIMITED	Director	22/07/2014	22/07/2014	-	Active	NO
18	AAA-1618	TORQUE HOLDINGS LLP	Designated Partner	17/09/2010	17/09/2010	-	Active	NO
19	AAA-4981	TORQUE CONSULTANCY LLP	Designated Partner	27/05/2011	27/05/2011	-	Active	NO

Name :

Ms. Pallavi Gajjar

Designation :

Director

Address :

47, Ghanshyam, Sampathrao Colony, Alkapuri, Baroda – 390007, Gujarat, India

Date of Birth/Age :

18.07.1972

Qualification :

Graduate

Experience :

More than 5 Years

Date of Appointment :

22.07.2014

PAN No.:

ACBPG6562E

DIN No.:

01629544

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51100GJ1983PTC005883	SAUMIN INVATRADE PRIVATE LIMITED	Director	25/08/2004	25/08/2004	-	Active	NO
2	U51100GJ1983PTC005890	KRIN INVATRADE PRIVATE LIMITED	Director	25/08/2004	25/08/2004	-	Active	NO
3	U51100GJ1983PTC005891	JALPEEN INVATRADE PRIVATE LIMITED	Director	25/08/2004	25/08/2004	-	Active	NO
4	U51100GJ1983PTC005810	GLOBAL INVATRADE (GUJARAT) PRIVATE LIMITED	Director	25/08/2004	25/08/2004	-	Active	NO
5	U67120GJ1983PTC005813	EARTHAGRI INVATRADE PRIVATE LIMITED	Director	25/08/2004	25/08/2004	-	Active	NO
6	U65910GJ1983PTC005812	AGRIUNIVER INVATRADE PRIVATE LIMITED	Director	25/08/2004	25/08/2004	-	Active	NO
7	U67120GJ1983PTC005809	SPHERICAL INVATRADE (GUJARAT) PRIVATE LIMITED	Director	25/08/2004	25/08/2004	-	Active	NO
8	U55110GJ1983PTC005888	SMEETAL INVATRADE PRIVATE LIMITED	Director	25/08/2004	25/08/2004	-	Active	NO
9	U70109MH2007PTC172681	REAL-T PRIVATE LIMITED	Director	30/07/2007	30/07/2007	-	Active	NO
10	U55101GJ2007PTC051599	FINE DINE RESTAURENTS PRIVATE LIMITED	Director	24/08/2007	24/08/2007	-	Active	NO
11	U35100MH2011PTC215631	BARON LUXURY AND LIFESTYLES PRIVATE LIMITED	Director	01/04/2011	01/04/2011	16/07/2013	Active	NO
12	U45201GJ2011PTC068274	ECO-BUILD SUSTAINABLE SOLUTIONS PRIVATE LIMITED	Director	17/12/2011	17/12/2011	30/06/2013	Active	NO
13	U35122MH2012PTC226051	BARON AVIATION AND ALLIED SERVICES PRIVATE LIMITED	Director	13/01/2012	13/01/2012	-	Active	NO
14	U74140GJ2012PTC070464	ATON ADVISORS PRIVATE LIMITED	Director	24/05/2012	24/05/2012	-	Active	NO
15	U72200GJ2012PTC070878	IWIN INFOTECH PRIVATE LIMITED	Director	25/06/2012	25/06/2012	-	Active	NO
16	U74999MH2014PTC254639	FOUNTAINHEAD VENTURES PRIVATE LIMITED	Director	19/03/2014	19/03/2014	-	Active	NO
17	U74120MH2014PTC255161	ALTERNATIVE INVESTMENT MARKET ADVISORS PRIVATE LIMITED	Director	29/03/2014	29/03/2014	-	Active	NO
18	U36912MH2014PTC256289	GENTRUST CONSUMER DURABLES PRIVATE LIMITED	Director	22/07/2014	22/07/2014	-	Active	NO
19	AAA-1597	STONEKRAFT DEVELOPERS LLP	Designated Partner	15/06/2010	15/06/2010	-	Active	NO

Name :

Mr. Gopal Gangaya Karkal

Designation :

Director

Address :

B/5, Anamica Apartment, Ramnagar Road, Borivali (West), Mumbai – 400092, Maharashtra, India

Date of Birth/Age :

15.10.1946

Qualification :

Graduate

Experience :

16 Years

Date of Appointment :

22.07.2014

PAN No.:

AAGPK7786K

Passport No.:

K3529835

Profile :

Mr. Gopal Karkal has 16 years of experience at Bank of Baroda as credit officer, key responsibilities being credit appraisal and sanction. Travelled extensively throughout India and specialized in nursing of stick industrial units. B.Com from university of Mumbai. Started a business in copper conductors in 1988 and still continues as MD in Surya Conductors Private Limited.

DIN No.:

02891379

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U27100MH1988PTC046876	SURYA CONDUCTORS PRIVATE LIMITED	Director	05/04/1988	05/04/1988	Active	YES
2	U36912MH2014PTC256289	GENTRUST CONSUMER DURABLES PRIVATE LIMITED	Director	22/07/2014	22/07/2014	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 03.07.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Pranav Vipinchandra Parikh	4900	49.00
Pallavi Gajjar	100	1.00
Ajpa Doshi	3750	37.50
Akash Doshi	1250	12.50

Total	10000	100.00

BUSINESS DETAILS

Line of Business :	Trading of Consumer Durables.

Brand Names :	“SPHEREHOT”

Agencies Held :	--

Exports :	Not Available

Imports :	Not Available

Terms :
Selling :	Others

Purchasing :	Others

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Proposed Customers :

Wholesalers

· SLM Associates

· Mahavir Sales Agency

· Aakar Sales

· Lighthouse Electricals

· Kapadia Corporation

No. of Employees :

4 (Approximately)

Bankers :

Bank Name:	Kotak Mahindra Bank Limited
Branch:	5, C/11, Mittal Court, 224, Nariman Point, Mumbai – 400021, Maharashtra, India
Person Name (with Designation):	Mr. Abhijit Salunkhe [Service Manager]
Contact Number:	91-22-66563434
Name of Account Holder:	Gentrust Consumer Durables Private Limited
Account Number:	8411472034
Account Since (Date/ Year of A/c Opening):	27.08.2014
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Satisfactory
Remarks: As claimed by Mr. Abhijit Salunkhe [Service Manager], the subject having satisfactory track record for banking transaction.

· Bank of India

Churchgate, Mumbai, Maharashtra, India

Facilities :


Auditors :	Not Available

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount

10,000	Equity Shares	Rs. 10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10,000	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	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 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	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	Yes
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	No
34]	External Agency Rating, if available	No

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

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(RS. IN MILLIONS)

SR. NO		PARTICULARS	2015 ESTIMATED	2016 PROJECTION	2017 PROJECTION	2018 PROJECTION

1		GROSS SALES
	i)	Sales
		a) Domestic Sales	100.000	130.000	169.000	219.700

		b) Export Sales	--	--	--	--

		c) Sub-total [a + b]	100.000	130.000	169.000	219.700

		d) %age rise (+) or fall (-) in net sales as compared to previous year	0.00%	30.00%	30.00%	30.00%

		Total	100.000	130.000	169.000	219.700

	ii)	Other income
		a) Duty drawback	--	--	--	--

		b) Other	--	--	--	--

		c) Commission/ Brokerage/ interest	--	--	--	--

		d) Sub-total [a + b + c]	--	--	--	--

		Total [i] + [ii]	100.000	130.000	169.000	219.700

2		COST OF SALES
	i)	Purchases
		Domestic	106.600	108.900	150.011	193.514

		Imported	--	--	--	--

	ii)	Other expenses [Process charges, carriage inward, comm, and brokerage on purchases, etc.]	--	--	--	--

	iii)	Sub-total [i + ii]	106.600	108.900	150.011	193.514

	iv)	Add: Opening stock	--	22.208	22.688	31.252

	v)	Sub-total [iii + iv]	106.600	131.108	172.699	224.767

	vi)	Less: Closing Stock	22.208	22.688	31.252	40.315

	vii)	Sub-total [Total cost of sales] [v - vi]	84.392	108.421	141.446	184.451

3		Selling, General and Administrative Expenses (including bonus payments)	10.000	13.000	16.900	21.970

4		Operating Profit before interest and Depreciation [1(iii)-2(vii)-3]	5.608	8.579	10.654	13.279

5		Interest Exps.- WC loan	1.450	2.900	2.900	2.520
		- Bank Charges	--	--	--	--

6		Depreciation	0.050	0.045	0.041	0.036

7		Operating profit after interest and depreciation [4-5-6]	4.108	5.634	7.713	10.722

8		(i) Add: Other non-operating income
		(a) Discount received	--	--	--	--
		(b) Other Income	--	--	--	--

		Sub-total (income)	--	--	--	--

		(ii) Deduct: Other non-operating expense
		(a) Directors Remuneration	--	--	--	--
		(b) Other expense	--	--	--	--

		Sub-total (expenses)	--	--	--	--

		(iii) Net of other non-operating incomes/expenses (net of 8(i) and 8(ii))	--	--	--	--

9		Profit before tax/ loss (7+8 (iii))	4.108	5.634	7.713	10.722

10		Provision for tax	1.269	1.741	2.383	3.313

11		Net Profit / (loss) [9-10]	2.839	3.893	5.330	7.409

12		(i) Equity dividend paid/ Drawings	--	--	--	--
		(ii) Dividend Rate	--	--	--	--

13		Retained Profit [11-12]	2.839	3.893	5.330	7.409

14		Retained Profit / Net Profit (%age)	100%	100%	100%	100%

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

ANALYSIS OF BALANCE SHEET

(RS. IN MILLIONS)

SR. NO	PARTICULARS	2015 ESTIMATED	2016 PROJECTION	2017 PROJECTION	2018 PROJECTION

	CURRENT LIABILITIES
1	Short term borrowings from bank (including Bills purchased, discounted and excess borrowings placed on repayment basis)
	(i) From applicant bank	20.000	20.000	20.000	20.000

	(ii) From other banks	--	--	--	--

	(iii) of which EP and BD	--	--	--	--

	Sub Total (A)	20.000	20.000	20.000	20.000

2	Short term borrowings from others	--	--	--	--

3	Sundry Creditors - Trade	4.886	5.899	9.376	13.707

4	Advance payments from customers/ deposits from dealers	--	--	--	--

5	Provision for Taxation	1.269	1.741	2.383	3.313

6	Dividend Payable	--	--	--	--

7	Other statutory liabilities (due within one year)	--	--	--	--

8	Deposits/ Installments of term loan/DPGs/ Debentures, etc.(due within one year)	--	--	--	--

9	Other current Liabilities and Provisions (due within one year)	0.500	0.600	0.700	0.800

	Sub Total (B)	6.655	8.240	12.459	17.820

10	TOTAL CURRENT LIABILITIES [TOTAL OF 1 TO 9]	26.655	28.240	32.459	37.820

	TERM LIABILITIES
11	Debentures (not maturing within one year)	--	--	--	--

12	Preference Shares (redeemable after one year)	--	--	--	--

13	Term loans (excluding installments payable within one year)	--	--	--	--

14	Deferred Payment Credits (excluding installments due within one year)	--	--	--	--

15	Term deposits (repayable after one year)	--	--	--	--

16	Other term liabilities
	(a) Unsecured loans	1.600	1.600	1.600	1.600

17	TOTAL TERM LIABILITIES (TOTAL OF 11 TO 16)	1.600	1.600	1.600	1.600

18	TOTAL OUTSIDE LIABILITIES [10+17]	28.255	29.840	34.059	39.420

	NET WORTH
19	Paid up Capital	--	5.000	5.000	5.000

20	Share Application money	5.000	--	--	--

21	Drawing	--	--	--	--

22	Withdrawal	--	--	--	--

23	Surplus (+) or deficit (-) in Profit and Loss Account	2.839	6.732	12.062	19.471

24	Net worth	7.839	11.732	17.062	24.471

25	TOTAL LIABILITIES [18+24]	36.094	41.572	51.121	63.892

	CURRENT ASSETS
26	Cash & Bank balances	0.100	0.250	0.300	0.350

27	Deposits	--	--	--	--

28	Receivables	12.500	13.000	13.500	14.000

30	Inventories
	(i) Raw materials (including stores and other items in process of manufacture)
	(a) Imported	--	--	--	--

	(b) Indigenous	--	--	--	--

	(ii) Stock-in-process	--	--	--	--

	(iii) Other consumable stores
	(a) Imported	--	--	--	--

	(b) Indigenous	--	--	--	--

	(iv) Finished Goods	22.208	22.688	31.252	40.315

31	Advance to suppliers of Raw materials and stores/ spares	--	--	--	--

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

33	Other current assets	0.736	5.229	5.704	8.898

34	TOTAL CURRENT ASSET [TOTAL 26 TO 33]	35.544	41.167	50.757	63.564

	FIXED ASSETS
35	Gross Block (land and building machinery vehicles work-in-progress)	0.500	0.500	0.500	0.500

36	Depreciation to date	0.050	0.095	0.136	0.172

37	NET BLOCK (35-36)	0.450	0.405	0.365	0.328

38	Investments/book debts /advances deposits which are not current assets	--	--	--	--

	i.(a) Investments in subsidiary companies/ affiliates	--	--	--	--

	(b) Others	--	--	--	--

	ii. Advances to suppliers of capital goods & contractors	--	--	--	--

	iii. Deferred receivables (maturity exceeding one year)	--	--	--	--

	iv. Others	--	--	--	--

39	Non consumables stores and spare	--	--	--	--

40	Other non-current assets (incl. Dues from director)	--	--	--	--

41	TOTAL OTHER NON-CURRENT ASSETS (TOTAL OF 38 TO 40)	--	--	--	--

42	Intangible assets (patents, goodwill, prelim, expenses, bad/ doubtful debts not provided for etc.)	--	--	--	--

43	TOTAL ASSETS (Total of 34,37,41 & 42)	35.994	41.572	51.121	63.892

44	Tangible net worth (24-42)	7.839	11.732	17.062	24.471

45	Net working Capital [(17+24)-(37+41+42)] Totally with (34-10)	8.889	12.927	18.297	25.743

46	Current Ratio [34/10]	1.33	1.46	1.56	1.68

47	Total outside liabilities / Net worth (18/44)	3.60	2.54	2.00	1.61

	Quasi	2.82	2.12	1.74	1.45

	ADDITIONAL INFORMATION
	A. Arrears of depreciation	--	--	--	--

	B. Contingent Liabilities:
	(a) Arrears of cumulative dividends	--	--	--	--

	(b) Gratuity liability not provided for	--	--	--	--

	(c) Disputed excise/ customs/tax liabilities	--	--	--	--

	(d) Other liabilities not provided for	--	--	--	--

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

FUND FLOW STATEMENT

(RS. IN MILLIONS)

SR. NO	PARTICULARS	2015 ESTIMATED	2016 PROJECTION	2017 PROJECTION	2018 PROJECTION

1	SOURCES
	[a] Net profit (after tax)	2.839	3.893	5.330	7.409

	[b] Depreciation	0.050	0.045	0.041	0.036
	Partners' Salary and interest	--	--	--	--

	[c] Increase in Capital	--	5.000	--	--

	[d] Increased in Term Liabilities (incl. Public deposits)	--	--	--	--

	[e] Decrease in
	[i] Fixed Assets	--	--	--	--

	[ii] Other non-current Assets	--	--	--	--

	[f] Others (Unsecured Loans)	1.600	--	--	--

	[g] Total	4.489	8.938	5.370	7.446

2	APPLICATION
	[a] Net Loss	--	--	--	--

	[b] Decrease in Term Liabilities (Incl. Public deposits)	--	--	--	--

	[c] Increase in
	[i] Fixed Assets	0.500	--	--	--

	[ii] Other non-current Assets	--	--	--	--

	[d] Drawing	--	--	--	--

	[e] Others (Unsecured loans)	--	--	--	--

	[f] Total	0.500	--	--	--

3	Long Term Surplus (+) / Deficit (-) (1 minus 2)	3.989	8.938	5.370	7.446

4	+ / (-) in current assets * ( As per details given below)	35.544	5.623	9.590	12.807

5	+ / (-) in current Liabilities other than bank borrowings	6.655	1.584	4.219	5.361

6	+ / (-) in working capital Gap	28.889	4.038	5.370	7.446

7	Net Surplus (+) / deficit (-) (Difference of 3 and 6)	(24.900)	4.900	--	--

8	+ / (-) in Bank Borrowings	20.000	--	--	--

	* Break up of (4)

	[i] + / (-) in Raw material	--	--	--	--

	[ii] + / (-) in Stock in process	--	--	--	--

	[iii] + / (-) in finished goods	22.208	0.479	8.565	9.063

	[iv] + / (-) in Receivables
	[a] Domestic	12.500	0.500	0.500	0.500

	[b] Export	--	--	--	--

	[iii] + / (-) in stores and spares	--	--	--	--

	[iii] + / (-) in other Current Assets	0.836	4.643	0.525	3.244

	Total	35.544	5.623	9.590	12.807

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COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

(RS. IN MILLIONS)

SR. NO	PARTICULARS	2015 ESTIMATED	2016 PROJECTION	2017 PROJECTION	2018 PROJECTION

	A. CURRENT ASSETS:
1	Cash and Bank Balances	0.100	0.250	0.300	0.350
	Fix Deposits	--	--	--	--

2	Investments (other than long term investments)
	(i) Government and other Trustee securities	--	--	--	--

	(ii) Fixed deposits with banks	--	--	--	--

3	(i) Receivables other than deferred and exports (incl. Bills purchased and discounted by banks)	12.500	13.000	13.500	14.000

	(ii) Export receivable (including Bills purchased and discounted by banks)	--	--	--	--

4	Installments of deferred receivable (due within one year)	--	--	--	--

5	Inventories
	(i) Raw materials (including stores and other items in process of manufacture)
	(a) Imported	--	--	--	--

	(b) Indigenous	--	--	--	--

	(ii) Stock-in-process	--	--	--	--

	(iii) Other consumable stores
	(a) Imported	--	--	--	--

	(b) Indigenous	--	--	--	--

	(iv) Finished Goods	22.208	22.688	31.252	40.315

6	Advance to suppliers of Raw materials and stores/spares	--	--	--	--

7	Advance payment of taxes	--	--	--	--

8	Other current assets	0.736	5.229	5.704	8.898

9	TOTAL CURRENT ASSETS [1 TO 8]	35.544	41.167	50.757	63.564

	(To agree with item 34 in Form III)	35.544	41.167	50.757	63.564

	B. CURRENT LAIBILITES (Other than bank borrowings for working capital)
10	Short term borrowings from others	--	--	--	--

11	Sundry Creditors - Trade	4.886	5.899	9.376	13.707
	LC Creditors	--	--	--	--

12	Advance payments from customers/ deposits from dealers	--	--	--	--

13	Provision for Tax	1.269	1.741	2.383	3.313

14	Dividend Payable	--	--	--	--

15	Other statutory liabilities (due within one year)	--	--	--	--

16	Deposits/Installments of term loan/ DPGs/ Debentures, etc.(due within one year)	--	--	--	--

17	Other current liabilities and Provisions (due within one year)	0.500	0.600	0.700	0.800

18	TOTAL CURRENT LIABILITIES [10 TO 17]	6.655	8.240	12.459	17.820

	(To agree with sub-total B-Form III)	6.655	8.240	12.459	17.820

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COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLIONS)

SR. NO	PARTICULARS	2015 ESTIMATED	2016 PROJECTION	2017 PROJECTION	2018 PROJECTION

1	Total Current Assets (Form IV)	35.544	41.167	50.757	63.564

2	Other Current Liabilities (other than bank borrowings) (14 of Form IV)	6.655	8.240	12.459	17.820

3	Working Capital Gap (WCP) (1-2)	28.889	32.927	38.297	45.743

4	Minimum stipulated net working Capital - 25% of total current assets other than Export Receivables (as at 28(ii) of form III)	8.886	10.292	12.689	15.891

5	Actual/projected net working capital (45 in form III)	8.889	12.927	18.297	25.743

6	Item 3 minus item 4	20.003	22.635	25.608	29.852

7	Item 3 minus item 5	20.000	20.000	20.000	20.000

8	Maximum permissible bank finance (item 6 or 7 whichever is less)	20.000	20.000	20.000	20.000

9	Excess borrowings, if any representing short fall in NWC (4-5)	--	--	--	--

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FINANCIAL DETAILS

(RS. IN MILLIONS)

SR. NO	PARTICULARS	2015 ESTIMATED	2016 PROJECTION	2017 PROJECTION	2018 PROJECTION

a)	Share capital	5.000	5.000	5.000	5.000

b)	Tangible Net worth	7.839	11.732	17.062	24.471

c)	Investment in cos	0.000	0.000	0.000	--
	(Of which in group cos)

d)	Adjusted TNW	7.839	11.732	17.062	24.471

e)	Term Liabilities	1.600	1.600	1.600	1.600

f)	Capital Employed	9.439	13.332	18.662	26.071

g)	Net Block	0.450	0.405	0.365	0.328

h)	Net Sales :	100.000	130.000	169.000	219.700

i)	Other Income	--	--	--	--

j)	EBIDTA	5.608	8.579	10.654	13.279

k)	Interest	1.450	2.900	2.900	2.520

l)	Taxes	1.269	1.741	2.383	3.313

m)	Cash Accruals	2.889	3.938	5.370	7.446

n)	Depreciation	0.050	0.045	0.041	0.036

o)	Net Profit/(Loss)	2.839	3.893	5.330	7.409

p)	Current Assets	35.544	41.167	50.757	63.564

q)	Current Liabilities	26.655	28.240	32.459	37.820

	RATIOS :
r)	Current Ratio	1.33	1.46	1.56	1.68

s)	Debt/Equity :
	Term Liabilities/ TNW	0.20	0.14	0.09	0.07

t)	TOL/TNW	3.60	2.54	2.00	1.61

u)	TOL/ Adjusted TNW	3.60	2.54	2.00	1.61

v)	TOL/Quasi Equity	2.82	2.12	1.74	1.45

w)	Profitability%: PAT/Net Sales	2.84%	2.99%	3.15%	3.37%

x)	Interest Coverage	2.99	2.36	2.85	3.95

y)	Inventory + Receivables/ Sales (%)	34.71%	27.45%	26.48%	24.72%

SR. NO	PARTICULARS	2015 ESTIMATED	2016 PROJECTION	2017 PROJECTION	2018 PROJECTION

a.	Gross Sales	100.000	130.000	169.000	219.700

b.	25% of Gross Sales	25.000	32.500	42.250	54.925

c.	5% of Gross Sales	5.000	6.500	8.450	10.985

e.	(b-c)	20.000	26.000	33.800	43.940

f.	Limit Applied	20.000	20.000	20.000	20.000

g.	Permissible Bank Finance (Lower of e & f)	20.000	20.000	20.000	20.000

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NETWORTH STATEMENT

MR. PRANAV VIPINCHANDRA PARIKH

(RS. IN MILLIONS)

PARTICULARS

31.03.2014

IMMOVABLE ASSETS

Address [and owned by]	Area	Debt free / Mortgaged	Outstanding liability on the prop.	% of Holding in prop. [If jointly hold]	Market value of the prop.	Net Value of % Land
B-201, Ashok Gardens, Mumbai	1800 Sq. ft.	Debt free	0.000	100%	45.000	45.000

Girdhar Chambers	--	Debt free	0.000	100%	1.000	1.000

Sherkhi	1 lac Sq. ft.	Debt free	0.000	50%	30.000	15.000

Total Immovable Assets [A]

61.000

MOVABLE ASSETS

Cars

1.500

Other

9.000

Loans and Deposits

Total Movable Assets [B]

10.500

INVESTMENTS

Various properties in Vadodara and office in Mumbai held in partnership – 25% ownership

33.200

Investment in other real estate property through private company ownership or partnership

11.200

Investments in businesses

Other investments including cash, shares, fixed deposits etc.

3.300

Total Investments [C]

47.700

Liabilities [If any]

Loans

2.700

Deposit taken against premises given on lease

1.000

Total Liabilities [D]

3.700

NETWORTH [A + B + C - D]

115.500

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VALUATION REPORT

(GENERAL DETAILS)

Purpose of Valuation

For Financial Review by Bank

Date of Valuation / Inspection

October 17, 2014

Name of the Owner(s)

Mr. Pranav Vipinchandra Parikh

Shares of joint Owners

Description of the Property

The subject property is Open Plot of land admeasuring plot area 418.11 Sq. Mt. Or say 4498.86 Sq. ft. [As per copy of Sale Deed]

Location of Property

Plot No. C1, Old R.S. No. 2270, Block No. 1516, Off Mahapura Road, Village Bhayli, Vadodara

Surrounded by

- North

- South

- East

- West

Plot No. 2

12.00 Mt. wide road

9.00 Mt. wide road

Compound Wall

Address as per Revenue Record

Old R.S. No. 2270, Block No. 1516, paiki 2, Mouje Village Bhayli, Reg, Sub District and District Vadodara.

Whether Residential / Industrial / Commercial / Mixed Area

Residential Area

Classification of Locality i.e. High/ Middle/ Poor Class

Middle Class

Proximity of Civic amenities like Schools/ Hospital/ Offices/ etc.

All amenities are available within 2-3 km.

Means and Proximity of Communication/ Transportation

Auto, Taxi, Telephone and Bus are available nearby

Distance from Railway Station / S.T. Depot/ Center of City

About 11-12 km from Vadodara Railway Station

Area of Plot

418.11 Sq. Mt. or say 4498.86 Sq. ft.

Road on which the Land is abutting

Off Mahapura Road

Is it freehold/ leasehold land?

If leasehold than details of premium

Is there any statute in regard to use of Land

Residential

Does the Land fall in an area included in any TPS or any Dev. Plan of Government or any Statutory Body? Give details

Old R.S. No. 2270, Block No. 1516 paiki 2, Mouje Village Bhayli, Reg. Sub District and District Vadodara.

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

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

Attachment of site plan

Attachment of Plan and elevation of structure

Technical details of the Building

Is the land owner-occupied / tenanted / both

Owner-occupied

If partly owner-occupied, then portion and extent of area under owner occupancy

Floor Space Index, permissible and actual utilized

Year of construction / Age of the building

It is Open plot of land

STATEMENT OF VALUATION

Valuation as on October 17, 2014, Plot of Land, situated at Plot No. C1, Old R.S. No. 2270, Block No. 1516, off Mahapura Road, Village Bhayli, Vadodara belongs to Mr. Pranav Vipinchandra Parikh.

The prevailing market rate of such type / kind / size of plot of land in the vicinity of subject property is in range of Rs. 1500.00 to 2000.00 per Sq. ft. After considering availability of land, characteristic of property, demand and supply of similar property, burden of construction, size, shape, location, frontage and proximately from main road etc. they have adopted rate of land at Rs. 1800.00 per Sq. ft. for this valuation exercise.

Value of Land	Area x Market Rate [In Rs. / Sq. ft.]

	4498.86 Sq. ft. x Rs. 1800.00

	Rs. 8.098 Millions

Fair Market Value [Or Say]	Rs. 8.100 Millions

Realizable Value	Rs. 7.300 Millions

Distress Sale Value	Rs. 6.500 Millions

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INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

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

PROFILE

The company is a closely held Private Limited Company duly established in July, 2014, and promoted by the fountainhead ventures group. Gentrust headquartered in Mumbai with offices across key cities of Gujarat including Ahmedabad, Vadodara and Surat. The company has presently been maintaining current account with the Kotak Mahindra Bank at Nariman Point Branch. Tahr Company has opened a current account with our branch and has subsequently approached for working capital finance for development of the business activity. The company’s registered office is situated at 4^th floor Navyug Niwas, 167 Lamington Road, Mumbai 400007.

Gentrust is managed by a set of successful private equity professionals and a business family with over 7 decades of experience in the consumer appliances sector. The company decided to expand its business portfolio by entering in the consumer appliances retail sector through its license flagship brand Spherehot, Gentrust Consumer Durables is in the process of associating itself with several well-known international brands of consumer product.

The company has interests and capabilities in diverse consumer products such as water heaters, toasters, grills, microwave ovens and many other consumer appliances.

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

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. 61.87
UK Pound	1	Rs. 97.23
Euro	1	Rs. 77.21

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	SUM

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	--

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

Unit