MIRA INFORM REPORT

Report Date :

09.10.2014

IDENTIFICATION DETAILS

Name :	SHREE RAMDEV COTTON INDUSTRIES

Registered Office :	Revenue Survey No. 297/P1, Khata No. 800, Dharmoda to Laxmipura on way, At: Dharmoda, Taluka Chanasma, District Patan – 384220, Gujarat

Country :	India

Financials (as on) :	20.09.2014

Year of Establishment :	13.09.2013

Capital Investment :	Rs. 13.651 Millions

PAN No.: [Permanent Account No.]	ACKFS9601D

Legal Form :	Partnership Concern with an Unlimited Liability of the Partners

Line of Business :	Ginning and Pressing of Cotton.

No. of Employees :	90 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

New Business

Status :	New Concern

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is a new partnership concern and establishing itself gradually. Mr. Rajesh Jain, Partner has provided us with all information and he also confirmed that the concern will start its business activity from November 2014. Payment terms are reported to be unknown. The concern 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.

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. Rajeshkumar Dipchandbhai Jain
Designation :	Partner
Contact No.:	91-9377208083
Date :	07.10.2014

LOCATIONS

Registered Office/ Factory :	Revenue Survey No. 297/P1, Khata No. 800, Dharmoda to Laxmipura on way, At: Dharmoda, Taluka Chanasma, District Patan – 384220, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-9377208083 [Mr. Rajeshkumar Dipchandbhai Jain] 91-9825094169 [Mr. Hasmukhbhai Prahaladbhai Patel] 91-9537343445 [Mr. Dajibhai Lembabhai Rabari]
Fax No.:	Not Available
Location :	Owned

PARTNERS

Name :	Mr. Rajeshkumar Dipchandbhai Jain
Designation :	Partner
Address :	Nava Pitha Vistar, Near Masjid, PO: Harij, District Patan, Gujarat, India
Date of Birth/Age :	01.01.1982
Qualification :	HSC
Experience :	Last 5 Years
PAN No.:	AKRPJ9744R

Name :	Mr. Dajibhai Lembabhai Rabari
Designation :	Partner
Address :	At and Post Ajabpura, Ta: Bechraji, District Mehsana, Gujarat, India
Date of Birth/Age :	01.06.1977
Qualification :	HSC
Experience :	Last 3 Years
PAN No.:	AIJPR6029B
Voter ID :	NHJ1322783

Name :	Mr. Prabhatbhai Lalubhai Rabari
Designation :	Partner
Address :	At and Post: Vesu, Ta: Choryasi, District Surat, Gujarat, India
Date of Birth/Age :	30.09.1952
Qualification :	HSC
Experience :	30 Years
PAN No.:	BLYPR7851Q
Voter ID :	CTL7881527

Name :	Mr. Hasmukhbhai Prahaladbhai Patel
Designation :	Partner
Address :	34 Moto Vas, Zanzarva, Taluko: Mandal, District Ahmedabad, Gujarat, India
Date of Birth/Age :	15.01.1967
Qualification :	SSC
Experience :	16 Years
PAN No.:	ANFPP4379M
Voter ID :	GJ/09/062/069167

BUSINESS DETAILS

Line of Business :	Ginning and Pressing of Cotton.

Terms :
Selling :	Cash

Purchasing :	Cash

PRODUCTION DETAILS

PRODUCTS	INSTALLED CAPACITY	ACTUAL EXPECTED PRODUCTION
Cotton Ginning and Pressing 2014-15	35000 M.T.	7986 MT (From 15 Nov. 14 to March-15
Cotton Ginning and Pressing 2015-16 onward	35000 MT	14144 MT (8 Months)

GENERAL INFORMATION

Customers :	Wholesalers

No. of Employees :	90 (Approximately)

Bankers :	· Bank of India Gandhinagar, Gujarat, India

Facilities :	Rs. 65.000 Millions


Banking Relations :	--

Auditors :
Name :	H.K. Shah and Company Chartered Accountants
Address :	403/404, Sarap Building, Near Navjivan Press, Ahmedabad – 380014, Gujarat, India
Tel. No.:	91-79-27544995
E-Mail :	hkshahandco@gmail.com

CAPITAL STRUCTURE

AS ON 20.09.2014

Capital Investment :
Owned :	Rs. 13.651 Millions
Borrowed :	--
Total :	Rs. 13.651 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		01.04.2014 to 20.09.2014
SHAREHOLDERS FUNDS
1] Capital Account		13.651
2] Share Application Money		0.000
3] Profit and Loss Account		0.000
4] (Accumulated Losses)		(0.001)
NETWORTH		13.650
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000

TOTAL		13.650

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		9.165
Capital work-in-progress		0.000

INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.028
	Cash & Bank Balances	0.057
	Other Current Assets	0.000
	Loans & Advances	4.400
Total Current Assets		4.485
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.000
Net Current Assets		4.485

MISCELLANEOUS EXPENSES		0.000

TOTAL		13.650

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	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	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	Yes
27]	Financials, if provided	No
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	Yes
34]	External Agency Rating, if available	No

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

COST OF PROJECTS

(RS. IN MILLIONS)

APPLICATION OF FUNDS	TOTAL	AMOUNT INFUSED TILL DATE	BALANCE PENDING TO BE INFUSED
FIXED ASSETS
Land and Building	18.500	9.200	9.300

Plant and Machinery	34.000	4.400	29.600

Total	52.500	13.600	38.900

Working Capital	16.000	--	16.000

TOTAL	68.500	13.600	54.900

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

MEANS OF FINANCE

(RS. IN MILLIONS)

MEANS OF FUNDS	TOTAL	AMOUNT INFUSED TILL DATE	BALANCE PENDING TO BE INFUSED

Partner’s Contribution	43.500	13.600	29.900

External Borrowings
Term Loan	25.000	--	25.000

Total	68.500	13.600	54.900

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

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(RS. IN MILLIONS)

PARTICULARS	2014-15	2015-16	2016-17	2017-18	2018-19	2019-20	2020-21
	[Estimates]	[Projection]

1 Gross Sales
(i) Domestic Sales	438.344	460.261	483.274	507.438	532.810	559.450	587.423

(ii) Export Sales	--	--	--	--	--	--	--

Total	438.344	460.261	483.274	507.438	532.810	559.450	587.423

2 Less: Excise Duty	--	--	--	--	--	--	--

3 Net Sales ( 1 - 2 )	438.344	460.261	483.274	507.438	532.810	559.450	587.423

4 % age Rise [+] or Fall [-] in Net Sales as compared to previous Year (%)	--	5	5	5	5	5	5

5 Cost of Sales
(i) Raw Materials [including stores and other items used in the process of manufacture]
[a] Imported	--	--	--	--	--	--	--
[b] Indigenous	403.320	423.486	444.660	466.894	490.238	514.750	540.488

(ii) Other Spares
[a] Imported	--	--	--	--	--	--	--
[b] Indigenous	--	--	--	--	--	--	--

(iii) Power and Fuel	0.600	0.660	0.726	0.799	0.878	0.966	1.063

(iv) Direct Labour (Factory Wages and Salaries)	11.520	12.096	12.701	13.336	14.003	14.703	15.438

(v) Other Manufacturing Expenses	0.200	0.220	0.242	0.266	0.293	0.322	0.354

(vi) Depreciation	5.102	4.336	3.686	3.133	2.663	2.264	1.924

(vii) Sub-Total ( i to vi )	420.742	440.798	462.015	484.428	508.075	533.005	559.267

(viii) Add: Opening Stock in Process	--	--	--	--	--	--	--

Sub-Total	420.742	440.798	462.015	484.428	508.075	533.005	559.267

(ix) Deduct: Closing Stock in Process	--	--	--	--	--	--	--

(x) Cost of Production	420.742	440.798	462.015	484.428	508.075	533.005	559.267

(xi) Add: Opening Stock of Finished Goods	--	--	--	--	--	--	--

Sub-Total	420.742	440.798	462.015	484.428	508.075	533.005	559.267

(xii) Deduct: Closing Stock Finished Goods	--	--	--	--	--	--	--

(xiii) Sub-Total (Total Cost of Sales)	420.742	440.798	462.015	484.428	508.075	533.005	559.267

6 Selling, General and Administrative Expenses	1.000	1.100	1.210	1.331	1.464	1.611	1.772

7 Sub Total ( 5 + 6 )	421.742	441.898	463.225	485.759	509.539	534.616	561.039

8 Operating Profit before Interest ( 3 - 7 )	16.602	18.363	20.049	21.679	23.271	24.834	26.384

9 Interest	6.450	7.709	7.847	7.410	6.974	6.537	6.101

10 Operating Profit after Interest ( 8 -9 )	10.152	10.654	12.202	14.269	16.297	18.297	20.283

11 (i) Add : Other Non-Operating Income	--	--	--	--	--	--	--

Sub-Total ( Income )	--	--	--	--	--	--	--

(ii) Deduct: Other Non-Operating Expenses	--	--	--	--	--	--	--

Sub-Total ( Expenses )	--	--	--	--	--	--	--

(iii) Net of Other Non-Operating Income / Expenses	--	--	--	--	--	--	--
[Net of 11(i) & 11(ii) ].

12 Profit Before Tax / Loss [ 10 + 11(iii) ]	10.152	10.654	12.202	14.269	16.297	18.297	20.283

13 Provision for Taxes	0.955	0.781	0.814	0.923	0.989	1.015	1.002

14 Net Profit [ 12 - 13 ]	9.197	9.873	11.388	13.346	15.308	17.282	19.281

15 (a) Equity Dividend Paid	2.000	3.000	4.000	5.000	6.000	7.000	8.000
(b) Dividend Rate	--	--	--	--	--	--	--

16 Retained Profit	7.197	6.873	7.388	8.346	9.308	10.282	11.281

17 Retained Profit/Net Profit (%age)	78.25	69.61	64.88	62.54	60.80	59.50	58.51

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

ANALYSIS OF BALANCE SHEET

(RS. IN MILLIONS)

PARTICULARS	2014-15	2015-16	2016-17	2017-18	2018-19	2019-20	2020-21
	[Estimates]	[Projection]

CURRENT LIABILITIES

1 Short Term Borrowings from Bank (including Bills Purchased and Discounted and the Excess Borrowings placed on repayment basis)
(i) From Applicant Bank	40.000	41.000	42.000	43.000	44.000	45.000	46.000
(ii) From Other Banks	--	--	--	--	--	--	--
(iii) (Of Which BP and BD)	--	--	--	--	--	--	--

Sub-Total (A)	40.000	41.000	42.000	43.000	44.000	45.000	46.000

2 Short Term Borrowing from Others	--	--	--	--	--	--	--

3 Sundry Creditors (Trade )	10.153	8.910	9.356	9.823	10.315	10.830	11.372

4 Advances Payments from Customers/ Deposits From Dealers	36.529	38.355	40.273	42.287	44.401	46.621	48.952

5 Provision For Taxation	--	--	--	--	--	--	--

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

7 Other Statutory Liabilities (Due within one year)	--	--	--	--	--	--	--

8 Deposits / Installments of Term Loan / DPG's / Debentures Etc. (Due within one year)	4.167	4.167	4.167	4.167	4.167	4.165	--

9 Other Current Liabilities and Provisions (Due Within One Year) (Specify major items)	--	--	--	--	--	--	--
Accrued Expenses	1.110	1.173	1.240	1.311	1.387	1.467	1.552
Provisions	0.174	0.174	0.174	0.174	0.174	0.174	0.174

Sub-Total (B)	52.133	52.779	55.210	57.762	60.444	63.257	62.050

10 TOTAL CURRENT LIABILITIES	92.133	93.779	97.210	100.762	104.444	108.257	108.050
( Total of 1 TO 9 )

TERM LIABILITIES

11 Debentures (excluding not Maturing within one year)	--	--	--	--	--	--	--

12 Preference Shares (excluding Redeemable within one year)	--	--	--	--	--	--	--

13 Term Loans (excluding Installments Payable within one year )	20.833	16.666	12.499	8.332	4.165	--	--

14 Deferred Payment Credits (excluding Installments Payable within one year )	--	--	--	--	--	--	--

15 Term Deposits (excluding Payable within one year)	--	--	--	--	--	--	--

16 Other Term Liabilities	--	--	--	--	--	--	--

17 Total Term Liabilities	20.833	16.666	12.499	8.332	4.165	--	--
( Total of 11 to 16 )

18 Total Outside Liabilities	112.966	110.445	109.709	109.094	108.609	108.257	108.050
( 10 + 17 )

NET WORTH

19 Ordinary Share Capital	32.197	39.070	46.458	54.804	64.112	74.394	85.675

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

21 Revaluation Reserve	--	--	--	--	--	--	--

22 Other Reserves (excl. Provisions)	--	--	--	--	--	--	--

23 Surplus [+] Or Deficit [-] in Profit and Loss Account	--	--	--	--	--	--	--

24 Net Worth	32.197	39.070	46.458	54.804	64.112	74.394	85.675

25 Total Liabilities ( 18 + 24 )	145.163	149.515	156.167	163.898	172.721	182.651	193.725

CURRENT ASSETS

26 Cash and Bank Balances	12.299	15.779	20.646	25.765	31.216	37.074	43.416

27 Investments (Other than Long Term Investments)	--	--	--	--	--	--	--

(i) Government and Other Trustee Securities	--	--	--	--	--	--	--

(ii) Fixed Deposits with Banks	--	--	--	--	--	--	--

28 (i) Receivables Other than Deferred and Exports( incl. Bills Purchase / Discounted by Banks)	18.264	19.178	20.136	21.143	22.200	23.310	24.476

(ii) Export Receivables (including Bills Purchased/ Discounted by Banks)	--	--	--	--	--	--	--

29 Installment of Deferred Receivables (Due within 1 Year)	--	--	--	--	--	--	--

30 Inventory
(i) Raw Materials (including stores and other items used in the process of manufacture)
(a) Imported	--	--	--	--	--	--	--
(b) Indigenous	84.025	88.226	92.638	97.270	102.133	107.240	112.602

(ii) Stock In Process	--	--	--	--	--	--	--

(iii) Finished Goods	--	--	--	--	--	--	--

(iv) Other Consumable Spares
(a) Imported	--	--	--	--	--	--	--
(b) Indigenous	--	--	--	--	--	--	--

31 Advances to Suppliers of Raw Materials & Stores/ Spares	--	--	--	--	--	--	--

32 Advance Payment of Taxes	--	--	--	--	--	--	--

33 Other Current Assets ( Specify major items )
Pre-Paid Expenses	1.666	1.759	1.860	1.966	2.081	2.200	2.328

34 Total Current Assets	116.254	124.942	135.280	146.144	157.630	169.824	182.822
( Total of 26 to 33 )

FIXED ASSETS

35 Gross Block (Land & Building Machinery, Work in Progress)	34.011	34.011	34.011	34.011	34.011	34.011	34.011

36 Depreciation to Date	5.102	9.438	13.124	16.257	18.920	21.184	23.108

37 Net Block ( 35 - 36 )	28.909	24.573	20.887	17.754	15.091	12.827	10.903

OTHER NON-CURRENT ASSETS

38 Investments / Book Debits / Advances / Deposits which are not Current Assets
(i) (a) Investments in Subsidiary Companies/ Affiliates	--	--	--	--	--	--	--

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

(ii) Advances to Suppliers of Capital Good & Contractors	--	--	--	--	--	--	--

(iii) Deferred Receivables (maturity exceeding 1 yr)	--	--	--	--	--	--	--

(iv) Others	--	--	--	--	--	--	--

39 Non-Consumable Stores & Spares	--	--	--	--	--	--	--

40 Other Non-Current Assets incl. Dues from Directors	--	--	--	--	--	--	--

41 Total Other Non-Current Assets	--	--	--	--	--	--	--
(Total of 38 to 40 )

42 Intangible Assets (Patents, Goodwill, Preliminary Expenses, Bad / Doubtful Debts not provided for, Etc.)	--	--	--	--	--	--	--

43 Total Assets	145.163	149.515	156.167	163.898	172.721	182.651	193.725
( Total of 34, 37, 41 & 42 )

44 Tangible Net Worth ( 24 - 42 )	32.197	39.070	46.458	54.804	64.112	74.394	85.675

45 Net Working Capital	24.121	31.163	38.070	45.382	53.186	61.567	74.772
To Tally With ( 34 - 10 )

46 Current Ratio	1.26	1.33	1.39	1.45	1.51	1.57	1.69

47 Total Outside Liabilities / Tangible Net Worth ( 18 / 44 )	3.51	2.83	2.36	1.99	1.69	1.46	1.26

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

FUND FLOW STATEMENT

(RS. IN MILLIONS)

PARTICULARS	2014-15	2015-16	2016-17	2017-18	2018-19	2019-20	2020-21
	[Estimates]	[Projection]

1 S O U R C E S

a) Net Profit ( After Tax )	9.197	9.873	11.388	13.346	15.308	17.282	19.281

b) Depreciation	5.102	4.336	3.686	3.133	2.663	2.264	1.924

c) Increase in Capital	25.000	--	--	--	--	--	--

d) Increase in Term Liabilities (Including Public Deposits)	20.833	--	--	--	--	--	--

e) Decrease in
i ) Fixed Assets	--	--	--	--	--	--	--
ii) Other Non-Current Assets	--	--	--	--	--	--	--

f) Others	--	--	--	--	--	--	--

g) T o t a l	60.132	14.209	15.074	16.479	17.971	19.546	21.205

2 U S E S

a) Net Loss	--	--	--	--	--	--	--

b) Decrease in Term Liabilities (Including Public Deposits)	--	4.167	4.167	4.167	4.167	4.167	--

c) Increase in
i ) Fixed Assets	34.011	--	--	--	--	--	--
ii) Other Non-Current Assets	--	--	--	--	--	--	--

d) Dividend Payments	2.000	3.000	4.000	5.000	6.000	7.000	8.000

e) Others	--	--	--	--	--	--	--

f) T o t a l	36.011	7.167	8.167	9.167	10.167	11.165	8.000

3 Long Term Surplus (+) / Deficit (-) ( 1 - 2 )	24.121	7.042	6.907	7.312	7.804	8.381	13.205

4 Increase / Decrease in Current Assets * (as per details given below )	116.254	8.688	10.338	10.864	11.486	12.194	12.998

5 Increase / Decrease In Current Liabilities other than Bank Borrowings	52.133	0.646	2.431	2.552	2.682	2.813	(1.207)

6 Increase / Decrease in Working Capital Gap	64.121	8.042	7.907	8.312	8.804	9.381	14.205

7 Net Surplus (+) / Deficit (-) (Difference of 3 & 6)	(40.000)	(1.000)	(1.000)	(1.000)	(1.000)	(1.000)	(1.000)

8 Increase / Decrease in Bank Borrowings	40.000	1.000	1.000	1.000	1.000	1.000	1.000

Increase / Decrease in Net Sales	438.344	21.917	23.013	24.164	25.372	26.640	27.973

* Break-Up of ( 4 )

i) Increase / Decrease in Raw Materials	--	--	--	--	--	--	--

ii) Increase / Decrease in Stocks in Process	84.025	4.201	4.412	4.632	4.863	5.107	5.362

iii) Increase / Decrease in Finished Goods	--	--	--	--	--	--	--

iv) Increase / Decrease in Receivables

(a) Domestic	--	--	--	--	--	--	--
(b) Exports	18.264	0.914	0.958	1.007	1.057	1.110	1.166

v) Increase / Decrease in Stores & Spares	--	--	--	--	--	--	--

vi) Increase / Decrease in Other Current Assets	13.965	3.573	4.968	5.225	5.566	5.977	6.470

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

COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

(RS. IN MILLIONS)

PARTICULARS	2014-15	2015-16	2016-17	2017-18	2018-19	2019-20	2020-21
	[Estimates]	[Projection]

A CURRENT ASSETS

1 Raw Materials (including stores and other items used in the process of manufacture)
(a) Imported	--	--	--	--	--	--	--
Months' Consumption	--	--	--	--	--	--	--

(b) Indigenous	84.025	88.226	92.638	97.270	102.133	107.240	112.602
Months' Consumption	2.5	2.5	2.5	2.5	2.5	2.5	2.5

2 Other Consumable Spares, excluding those included In 1 above
(a) Imported	--	--	--	--	--	--	--
Months' Consumption	--	--	--	--	--	--	--

(b) Indigenous	--	--	--	--	--	--	--
Months' Consumption	--	--	--	--	--	--	--

3 Stock in Process	--	--	--	--	--	--	--
Months' Cost of Production	--	--	--	--	--	--	--

4 Finished Goods	--	--	--	--	--	--	--
Months' Cost of Sales	--	--	--	--	--	--	--

5 Receivables other than Export and Deferred Receivables (including Bills Purchased and Discounted by Bankers)	18.264	19.174	20.136	21.143	22.200	23.310	24.476
Months' Domestic Sales excluding Deferred Sales	0.5	0.5	0.5	0.5	0.5	0.5	0.5
.
6 Export Receivables (including Bills Purchased & Discounted by Bankers)	--	--	--	--	--	--	--
Months' Export Sales	--	--	--	--	--	--	--

7 Advances to Suppliers of Raw Materials and Stores/ Spares Consumables	--	--	--	--	--	--	--

8 Other Current Assets including Cash and Bank Balances and Deferred Receivables Due within one year (Specify major items)	--	--	--	--	--	--	--
Cash and Bank Balances	12.299	15.779	20.646	25.765	31.216	37.074	43.416

Investments (other than Long Term Investments)

(i) Government and Other Trustee Securities	--	--	--	--	--	--	--

(ii) Fixed Deposits with Banks	--	--	--	--	--	--	--

Installment of Deferred Receivables (Due within one year)	--	--	--	--	--	--	--

Advance Payment of Taxes	--	--	--	--	--	--	--

Other Current Assets
(Specify major items)
Pre-Paid Expenses	1.666	1.759	1.860	1.966	2.081	2.200	2.328

9 Total Current Assets ( To agree with Item 34 In FORM III )	116.254	124.942	135.280	146.144	157.630	169.824	182.822

B CURRENT LIABILITIES
(other than Bank Borrowing for Working Capital)

10 Creditors for Purchase of Raw Materials, Stores and Consumable Spares	10.153	8.910	9.356	9.823	10.315	10.830	11.372
Months' Purchases	0.25	0.25	0.25	0.25	0.25	0.25	0.25

11 Advances from Customers	36.529	38.355	40.273	42.287	44.401	46.621	48.952

12 Statutory Liabilities	--	--	--	--	--	--	--

13 Other Current Liabilities (Specify major items)	--	--	--	--	--	--	--

Short Term Borrowings from others	--	--	--	--	--	--	--

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

Dividend Payable	--	--	--	--	--	--	--

Deposits / Installments of Term Loan/DPG's/Debentures etc. (Due within one year)	4.167	4.167	4.167	4.167	4.167	4.165	--

Misc. Current Liabilities	--	--	--	--	--	--	--

Accrued Expenses	1.110	1.173	1.240	1.311	1.387	1.467	1.552

Provisions	0.174	0.174	0.174	0.174	0.174	0.174	0.174

14 Total ( To agree with Sub-Total B In Form III )	52.133	52.779	55.210	57.762	60.444	63.257	62.050

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

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

FIRST METHOD OF LENDING

(RS. IN MILLIONS)

PARTICULARS	2014-15	2015-16	2016-17	2017-18	2018-19	2019-20	2020-21
	[Estimates]	[Projection]

1 Total Current Assets (9 In From IV)	116.254	124.942	135.280	146.144	157.630	169.824	182.822

2 Other Current Liabilities (other than Bank Borrowings)	52.133	52.779	55.210	57.762	60.444	63.257	62.050
( 14 of Form IV )

3 Working Capital Gap (WCG)	68.288	76.330	84.237	92.549	101.353	110.732	120.772

4 Minimum Stipulated Net Working Capital i.e. 25 % Of WCG / 25 % of Total Current Assets as the case may be depending upon Method of Lending being applied (Exports Receivables to be excluded under both methods)	17.072	19.083	21.059	23.137	25.338	27.683	30.193

5 Actual / Projected Net Working Capital ( 45 In Form III )	28.288	35.330	42.237	49.549	57.353	65.732	74.772

6 Item 3 Minus Item 4	51.216	57.248	63.178	69.412	76.015	83.049	90.579

7 Item 3 Minus Item 5	40.000	41.000	42.000	43.000	44.000	45.000	46.000

8 Maximum Permissible Bank Finance (Item 6 or 7 whichever is lower)	40.000	41.000	42.000	43.000	44.000	45.000	46.000

9 Excess Borrowings Representing Shortfall in NWC ( 4 - 5 )	--	--	--	--	--	--	--

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

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

SECOND METHOD OF LENDING

(RS. IN MILLIONS)

PARTICULARS	2014-15	2015-16	2016-17	2017-18	2018-19	2019-20	2020-21
	[Estimates]	[Projection]

1 Total Current Assets (9 In From IV)	116.254	124.942	135.280	146.144	157.630	169.824	182.822

2 Other Current Liabilities (other than Bank Borrowings)	52.133	52.779	55.210	57.762	60.444	63.257	62.050
( 14 of Form IV )

3 Working Capital Gap (WCG)	68.288	76.330	84.237	92.549	101.353	110.732	120.772

4 Minimum Stipulated Net Working Capital i.e. 25 % Of WCG / 25 % of Total Current Assets as the case may be depending upon Method of Lending being applied (Exports Receivables to be excluded under both methods)	29.064	31.236	33.820	36.536	39.408	42.456	45.706

5 Actual / Projected Net Working Capital ( 45 In Form III )	28.288	35.330	42.237	49.549	57.353	65.732	74.772

6 Item 3 Minus Item 4	39.225	45.095	50.417	56.013	61.946	68.276	75.067

7 Item 3 Minus Item 5	40.000	41.000	42.000	43.000	44.000	45.000	46.000

8 Maximum Permissible Bank Finance (Item 6 or 7 whichever is lower)	39.225	41.000	42.000	43.000	44.000	45.000	46.000

9 Excess Borrowings Representing Shortfall in NWC ( 4 - 5 )	0.776	--	--	--	--	--	--

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

NETWORTH STATEMENT

MR. PRABHATBHAI LALLUBHAI RABARI

(RS. IN MILLIONS)

DETAILS OF ASSETS

IMMOVABLE PROPERTY

Assets	Own / Joint name	Area	Free hold or Lease hold	Location address	Present Value	Whether encumbered (Give details)

Non Agri. Land	--	--	--	--	--	--
i. Commercial	--	--	--	--	--	--
ii. Residential	Own	Vesu, Ta: Choryasi District Surat	Freehold	Vesu	4.500	Unencumbered

Flat / House

Agri. Land [60 vigha]	Own	Vesu	Freehold	Vesu	16.500	Unencumbered

Total					21.000

MOVABLE PROPERTY

INSURANCE POLICIES: NIL

SHARES/ DEBENTURES/ MUTUAL FUND ETC.: NIL

TERM DEPOSITS: NIL

INVESTMENT IN GOVERNMENT SECURITIES: NIL

VEHICLES

Type of Vehicle	Rs. in Millions

Four Wheeler	0.500

JEWELLERY

Particulars	Quantity	Valuation [Approx.] [Rs. in Millions]

Gold	32.70 gm	0.850

Silver	03.87 kg	0.150

Others	--	--

Total		1.000

CAPITAL INVESTED IN BUSINESS

Capital Invested

[As on 31.03.2014]

Rs. 3.135 Millions

LEGAL HEIRS

Sr. No.	Name	Occupation	Relation	Age	Marital Status

1	Dashrathbhai	Business	Son	40 Years	Married

2	Babubhai	Business	Son	35 Years	Married

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

NETWORTH STATEMENT

MR. HASMUKHBHAI PRAHALADBHAI PATEL

(RS. IN MILLIONS)

DETAILS OF ASSETS

BANK

Bank	Branch	Balance as on 31.03.2013	Last 6 months average balance

Dena Bank	Becharaji	Rs. 0.050 Million	Rs. 0.100 Million

Total		Rs. 0.050 Million	Rs. 0.100 Million

IMMOVABLE PROPERTY

Assets	Own / Joint name	Area	Free hold or Lease hold	Location address	Present Value	Whether encumbered (Give details)

Non Agri. Land	--	--	--	--	--	--
i. Commercial	--	--	--	--	--	--
ii. Residential	Own	350 Var	Freehold	Zanzarva, 1/95, Zanzarva	2.500	Unencumbered

House	Own	250 Var	Freehold	Zanzarva, 34, Zanzarva	2.000	--

Agri. Land [50 vigha]	Own	Zanzarva [50 vigha]	Freehold	Zanzarva	100.000	Unencumbered

Total					104.500

MOVABLE PROPERTY

INSURANCE POLICIES: NIL

SHARES/ DEBENTURES/ MUTUAL FUND ETC.: NIL

TERM DEPOSITS: NIL

INVESTMENT IN GOVERNMENT SECURITIES: NIL

VEHICLES

Type of Vehicle	Registration No.	Model	Year of make	Cost at the time of Purchase	Present Value

Four Wheeler	GJ-1-3455	Opel Corsa	1994	0.135	0.135

Bike	GJ-1-9581	Hero Honda Passion	2011	0.050	0.025

Total				0.185	0.160

JEWELLERY

Particulars	Quantity	Valuation [Approx.] [Rs. in Millions]

Gold	0.50 Kg	1.350

Silver	4.50 Kg	0.200

Others	--	--

Total		1.550

CAPITAL INVESTED IN BUSINESS: NIL

LEGAL HEIRS

Sr. No.	Name	Occupation	Relation	Age	Marital Status	Address

1	Kailashben Patel	Housewife	Wife	42 Years	Married	34, Moto Vas, Zanzarva, Taluka Mandal, District Ahmedabad

2	Ankitkumar Patel	Study	Son	23 Years	Married

3	Mehulbhai Patel	Study	Son	18 Years	Unmarried

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

NETWORTH STATEMENT

MR. RAJESHKUMAR DIPCHANDBHAI JAIN

(RS. IN MILLIONS)

DETAILS OF ASSETS

BANK

Bank	Branch	SB/ CD A/c. No.	Balance as on

Bank of Baroda	Harij	30990100002212	0.011

M.U. Bank	--	00031001006428	0.012

IMMOVABLE PROPERTY

Assets	Own / Joint name	Area	Free hold or Lease hold	Location address	Present Value	Whether encumbered (Give details)

Non Agri. Land	--	--	--	--	--	--
i. Commercial	--	--	--	--	--	--
ii. Residential	Own	Nana Pitha, Harji	Freehold	Harji	3.000	--

House	Own	--	--	--	--	--

Agri. Land [50 vigha]	Own	--	--	--	--	--

Total					3.000

MOVABLE PROPERTY

INSURANCE POLICIES: NIL

SHARES/ DEBENTURES/ MUTUAL FUND ETC.: NIL

TERM DEPOSITS: NIL

INVESTMENT IN GOVERNMENT SECURITIES: NIL

VEHICLES

Type of Vehicle	Year of make	Cost at the time of Purchase	Present Value

Four Wheeler	2013	1.250	1.100

Bike	--	--	0.032

Total			1.132

JEWELLERY

Particulars	Quantity	Valuation [Approx.] [Rs. in Millions]

Gold	14.80	0.400

Silver	5.80	0.250

Others	--	--

Total		0.650

CAPITAL INVESTED IN BUSINESS

Capital Invested

As on 31.03.2014

Rs. 3.470 Millions

LEGAL HEIRS

Sr. No.	Name	Occupation	Relation	Age	Marital Status

1	Meenaben	Housewife	Wife	32 Years	Married

2	Vikas	Study	Son	11 Years	Unmarried

3	Himanshi	Study	Daughter	3 Years	Unmarried

4	Akash	Study	Son	5 Years	Unmarried

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

NETWORTH STATEMENT

MR. DAJIBHAI LEMBABHAI RABARI

(RS. IN MILLIONS)

DETAILS OF ASSETS

BANK

Bank	Branch	SB/ CD A/c. No.	Balance as on 31.03.2013	Last 6 months avg. balance

Harji Nagrik Sahkari Bank Limited	Harji	SB 18060	Rs. 0.001 Million	Rs. 0.050 Million

Central Bank	Harji	SB 3278999525	Rs. 0.001 Million

Total			Rs. 0.002 Million

IMMOVABLE PROPERTY

Assets	Own / Joint name	Area	Free hold or Lease hold	Location address	Present Value	Whether encumbered (Give details)

Non Agri. Land	--	--	--	--	--	--
i. Commercial	--	--	--	--	--	--
ii. Residential	Own	Ajabpura	Freehold	Ajabpura	3.000	Unencumbered

Flat/ House House	Own	Janani Residency, Patan Mira Society, Patan	Freehold	Patan	2.600 1.400	Unencumbered Unencumbered

Agri. Land [40 vigha]	Own	Ajabpura	Freehold	Ajabpura	14.500	Unencumbered

Total					21.500

MOVABLE PROPERTY

INSURANCE POLICIES: NIL

SHARES/ DEBENTURES/ MUTUAL FUND ETC.: NIL

TERM DEPOSITS: NIL

INVESTMENT IN GOVERNMENT SECURITIES: NIL

VEHICLES

Type of Vehicle	Year of make	Cost at the time of Purchase	Present Value

Four Wheeler	2010	0.500	0.385

JEWELLERY

Particulars	Quantity	Valuation [Approx.] [Rs. in Millions]

Gold	26.40 gm	0.700

Silver	04.95 kg	0.200

Others	--	--

Total		0.900

CAPITAL INVESTED IN BUSINESS

Capital Invested

As on 31.03.2014

Rs. 3.124 Millions

LEGAL HEIRS

Sr. No.	Name	Occupation	Relation	Age	Marital Status

1	Bhavnaben	Housewife	Wife	34 Years	Married

2	Ansh	Study	Son	8 Years	Unmarried

3	Tirth	Study	Son	6 Years	Unmarried

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

VALUATION REPORT

(GENERAL DETAILS)

Purpose for which valuation is made

To arrive at fair market value for financial assistance from the bank

Date as on which valuation is made

18.07.2014

Name of the Owner

Rabari Prabhatbhai Lallubhai

If the property is under Joint Ownership

Individual

Brief description of the property

Industrial Premises

Location, Street, Ward No.

Revenue Survey No. 297/P1, Khata No. 800, Mouje Dharmoda, Ta: Chanasma, District Patan.

Survey/Plot No. of Land

Revenue Survey No. 297/P1, Khata No. 800

Is the property situated in area

Surrounded by Agricultural Area

Classification of Locality

Middle Class Non-Agricultural Area

Proximity to civic amenities

All amenities within 30.0 Km of Radius

Means and proximity to surface communication

All Vehicles

Land

10346 Sq. Mt

Roads, Streets or Lanes on which the land is abutting

Near Dharmoda-Laxmipura Road

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

For Industrial Purpose

Are there any agreements of easements?

Does the landfall in and area included in any Town Planning Scheme or any development plan of Government or any statutory body?

Local Authority

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

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

Attach a dimensioned site plan improvements

Yes

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

Plan is passed by collector office Patan dated 30.01.2014 wide order no. 65/410/4/13-14. As on date construction is as per plan.

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

As per Technical details

Is the building owner-occupied / tenanted/both?

Owner-Occupied

What is the F.S.I. permissible

F.S.I. is according to prevailing by Laws.

Name of tenants/ lessees/licenses etc.

Are any of the occupants related to the owners

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

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

Is the building insured? If so, give the policy No. amount for which it is insured and the annual premium

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

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

Give instances of sales of immovable property in the locality on a separate sheet.

In absence of sales of immovable property they have carried out market survey.

Land rate adopted in this valuation

Market rate Rs. 1500/- Sq. mt.

If sales instances are not available or not relied upon, the basis of arriving to the land rate

Local Inquiry

Year of commencement of construction and year of completion

Under construction

TECHNICAL DETAILS

No of floors and height of each floor

Industrial Premises with 3.4 Mt.ht

Plinth area floor wise

Shed: 557.54 Sq. mt.

Office: 42 Sq. mt.

Security Cabin: 9 Sq. mt.

Labour Quarter: 91.02 Sq. mt.

Toilet Block: 46.50 Sq. mt.

Weigh Bridge

Year of Construction

2014

Estimated future life

50 Years

Type of construction

Load bearing construction and steel structure at top.

Type of foundations

Load bearing foundation

Partitions

Under Construction

Door and Windows (Floor-Wise)

Under Construction

Flooring (Floor-wise)

Under Construction

Finishing

Under Construction

Roofing and Terracing

Proposed: Corrugated G I Sheet Roofing

Special Architectural or Decorative features

Electrification

Sanitary Installations

Compound Wall

Wire Fencing

Overhead Tanks

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

Sewage Disposal

VALUATION CERTIFICATE

The whole property, which is to be valued including land, is located on Revenue Survey No. 297/p1, Khata No. 800, Mouje Dharmoda, Ta: Chanasma, District Patan.

The orientation of said property is as under:

North	Same land then S. No. 291 and 292

South	Same land then Neliyu

East	Same land then S. No. 299 and 299p

West	Same land then S. No. 296

LAND VALUE

Considering the site situation, location style of the plot and all other factors, which affects the land value. They considered the land value of this whole plot is Rs. 1500 per Sq. mt. The land values for said property become.

Total Land Area Sq. Mt.

Rate Per Sq. Mt.

Total Rs. in Millions

10346.00

1500.00

Rs. 15.519 Millions

BUILDING VALUE

Looking to the planning, stage of the Construction, material used in said property etc. and all other factors, which affects building value. They considered the building value as per prevailing market rates of materials used there in as on date as under:

Total Built-up Area Sq. mt.	Rate per Sq. mt.	Total Rs. in Millions
Shed 557.54	5000.00	Rs. 2.788 Millions

Labour Quarter 91.02	5000.00	Rs. 0.455 Million

Site Development	L.S.	Rs. 1.000 Millions

Total		Rs. 4.243 Millions

A VALUATION AS PER MARKET LAND RATE

Market Land Rate	Land Value + Building Value

	Rs. 15.519 Millions + Rs. 4.243 Millions

	Rs. 19.762 Millions

NOTE:

Realizable Value	Rs. 17.000 Millions

Distress Value	Rs. 10.000 Millions

Registered Value	Rs. 6.000 Millions

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

CREDIT FACILITIES [PROPOSED]

(RS. IN MILLIONS)

TYPE OF FACILITIES	AMOUNT IN MILLIONS	PURPOSE FOR WHICH REQUIRED	SECURITY OFFERED

Cash Credit	40.000	Working Capital	Hypothecation of stock and Book Debt

Term Loan	25.000	For purchase of machineries and Loader Tractor	Hypothecation of machineries and tractor

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

COLLATERAL SECURITY

(RS. IN MILLIONS)

SR. NO.	DESCRIPTION OF PROPERTY OFFERED AND LOCATION	NAME OF ABSOLUTE OWNER	MARKET VALUE IN MILLIONS

1	Property situated at land and building at At: Dharmoda, Ta: Chanasma, District Patan	Mr. Prabhatbhai Rabari	Rs. 40.000 Millions [Approx.]

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

DETAILS OF IMMOVABLE PROPERTY OF PROMOTERS

SR. NO.	NAME OF THE OWNER	TYPE OF PROPERTY

1	Mr. Dajibhai Rabari	One Plot of Land and Three Residential Houses

2	Mr. Prabhat Rabari	One Plot of Land and One Residential House

3	Mr. Hasmukh Patel	One Plot of Land and One Residential House

4	Mr. Rajesh Jain	One Residential House

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

BUSINESS PROFILE

OPERATIONAL DETAILS

Line of Business

Cotton Ginning and Pressing

Products/services and brief description on the key products

Cotton Bales used in spinning mill for manufacturing yarn.

Cotton seeds are used to extract cotton seed oil.

Brief description of end-use of products/ services

Bales are used in manufacturing yarn and cotton seed is used to extract oil.

Seasonality of Operations. If applicable

Procurement	Peak	October-May
Procurement	Slack	June-September

Manufacturing	Peak	October-May
Manufacturing	Slack	June-September

Sales	Peak	October-May
Sales	Slack	June-September

Payment Policy to suppliers/vendors

Not Applicable as business is yet to start

Collection policy from customers/ client

Not Applicable as business is yet to start

Future plans

Planning to commence ginning and pressing unit

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

SITE VISIT DETAILS

Name of the unit

Shree Ramdev Cotton Industries

Address

Dharmoda-Laxmipura Road, At. and Po. Dharmoda, Ta. Chanasma, District Patan-384220, Gujarat, India

Site visit done on

September 19, 2014

Details of the persons met:

Name

Mr. Rajesh Jain

Designation

Partner

Function Handled

Purchase and production

Contact Number

9979785550

Associated with the unit since

2013

Type of Location

Residential and Commercial

Whether located in industrial area developed under govt. schemes

Premises location on

Main Road

Type of Building*

If shared with other units	No

Group Concerns	Other units not related to the Unit

*Note: Building is yet to be constructed.

Premises used as

Factory	Administrative	Sales	Warehouse
All the above

Products/ Service

Cotton ginning and pressing

No. of Shifts

Three

Nature of functioning

Manufacturing

Employee Strength:

Permanent:

10 (expected)

On Contract:

80 (expected in number to be appointed via labour contractor)

Child labour seen in the premises

Not Applicable as firm has not appointed manpower

Nature of infrastructure:

Land (Area)

10,346 sq. mtrs.

Building (Area)

23,960 sq. fts.

Building

Dharmoda-Laxmipura Road, At. and Po. Dharmoda, Ta. Chanasma, District Patan-Owned

Power Load (KVA)

225 HP (Applied for connection)

Banker Details:

Name of the Bankers

Mr. Ramesh Chaudhary, Manager, Bank of India

Contact Details and E-mail id

9099629571

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

STATUTORY AND OTHER

PARTICULARS	REGISTRATION NO.
Formation document viz. Certificate of incorporation	MHN/9272

Micro/Small/Medium/Registration/ Entrepreneurs Memorandum No.	EM12400312000588

Permanent Account Number (PAN) of Firm	ACKFS9601D

VAT	24030800615

VAT Returns filing	Verified till May-2014

CST	24530800615

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

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. 61.46
UK Pound	1	Rs. 98.77
Euro	1	Rs. 77.65

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	RAS

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

PRODUCTS

Unit