MIRA INFORM REPORT

Report Date :

14.10.2014

IDENTIFICATION DETAILS

Name :	ABHI COLD STORAGE PRIVATE LIMITED

Registered Office :	Village Bilara, Post Bisawar, Tehsil Sadabad, Hathras – 281306, Uttar Pradesh

Country :	India

Financials (as on) :	31.03.2014 [Provisional]

Date of Incorporation :	01.05.2008

Com. Reg. No.:	20-035133

Capital Investment / Paid-up Capital :	Rs. 1.680 Millions

CIN No.: [Company Identification No.]	U15139UP2008PTC035133

PAN No.: [Permanent Account No.]	AAHCA1635K

Legal Form :	Private Limited Liability Company

Line of Business :	Providing Cold Storage facilities for preservation of potatoes and other agricultural produce.

No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (29)

RATING

STATUS

PROPOSED CREDIT LINE

26-40

Capability to overcome financial difficulties seems comparatively below average.

Small

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. The company has achieved minimal sales turnover from its operation. External borrowings of the company also seem to be huge during 2014. However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution.

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. Mahipal Singh
Designation :	Director
Contact No.:	91-9758144551
Date :	11.10.2014

LOCATIONS

Registered Office :	Village Bilara, Post Bisawar, Tehsil Sadabad, Hathras – 281306, Uttar Pradesh, India
Tel. No.:	Not Available
Mobile No.:	91-9758144551 [Mr. Mahipal Singh]
Fax No.:	Not Available
E-Mail :	singhjain@rediffmail.com abhicoldagra@gmail.com
Location :	Owned

Factory :	Village Naupura, Thesil Sadabad, District Hathras, Uttar Pradesh, India
Location :	Leased

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Digamber Singh Chaudhary

Designation :

Director

Address :

Mursan Road, 12 Sadabad, Hathras – 281306, Uttar Pradesh, India

Date of Birth/Age :

01.07.1956

Experience :

15 Years

Date of Appointment :

01.05.2008

DIN No.:

00853392

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	U63022UP2004PTC028888	KISAN AGRO PRODUCTS PRIVATE LIMITED	Director	22/07/2004	22/07/2004	01/09/2010	Active	NO
2	U15139UP2008PTC035133	ABHI COLD STORAGE PRIVATE LIMITED	Director	01/05/2008	01/05/2008	-	Active	NO

Name :

Mr. Mahipal Digamber Singh

Designation :

Director

Address :

Lenin Dairy Farm, Sherpur, Sadabad, Hathras – 281306, Uttar Pradesh, India

Date of Birth/Age :

10.09.1979

Qualification :

B.A.

Experience :

10 Years

Date of Appointment :

01.05.2008

PAN No.:

AGUPS9408G

DIN No.:

02150759

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

Total	100.00

BUSINESS DETAILS

Line of Business :

Providing Cold Storage facilities for preservation of potatoes and other agricultural produce.

PRODUCTION STATUS

Installed Capacity

90369 Qtls.

GENERAL INFORMATION

Customers :

Farmers

No. of Employees :

Not Divulged

Bankers :

· Oriental Bank of Commerce

Ram Nagar, Khandoli, Agra - 282001, Uttar Pradesh, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions) [Provisional]	31.03.2013 (Rs. In Millions)
LONG-TERM BORROWINGS
Term Loan From Banks	9.596	11.918
SHORT TERM BORROWINGS
Loans repayable on demand from Banks	22.222	12.553

Total	31.818	24.471


Banking Relations :	--

Auditors :
Name :	Singh Jain and Associates Chartered Accountants
Address :	15, Nehru Nagar, Agra – 282002, Uttar Pradesh, India
Tel. No.:	91-562-2520640/ 2851536
Fax No.:	91-562-2851536
E-Mail :	singhjain@rediffmail.com
Income-tax PAN of auditor or auditor's firm :	AAIFS4758D

CAPITAL STRUCTURE

AS ON 31.03.2014 [PROVISIONAL]

Authorised Capital :

No. of Shares	Type	Value	Amount

200,000	Equity Shares	Rs. 10/- each	Rs. 2.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

168,000	Equity Shares	Rs. 10/- each	Rs. 1.680 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014 [Provisional]	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1.680	1.680	1.680
(b) Reserves & Surplus	11.234	11.134	11.046
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	12.914	12.814	12.726

(3) Non-Current Liabilities
(a) long-term borrowings	23.570	25.578	24.270
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	23.570	25.578	24.270

(4) Current Liabilities
(a) Short term borrowings	22.222	12.553	12.611
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	2.400	2.400	2.850
(d) Short-term provisions	0.521	3.448	0.029
Total Current Liabilities (4)	25.143	18.401	15.490

TOTAL	61.627	56.793	52.486

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	20.517	23.006	25.534
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	5.000	5.000	5.000
(c) Deferred tax assets (net)	0.130	0.147	0.162
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.011
Total Non-Current Assets	25.647	28.153	30.707

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	0.044	0.076	0.061
(e) Short-term loans and advances	33.773	27.009	21.436
(f) Other current assets	2.163	1.555	0.282
Total Current Assets	35.980	28.640	21.779

TOTAL	61.627	56.793	52.486

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014 [Provisional]	31.03.2013	31.03.2012
	SALES
		Revenue from Operations	10.484	10.427	9.159
		Other Income	1.868	1.408	1.178
		TOTAL (A)	12.352	11.835	10.337

Less	EXPENSES
		Employees benefits expense	0.386	0.334	0.278
		Other expenses	6.382	5.430	4.053
		TOTAL (B)	6.768	5.764	4.331

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		5.584	6.071	6.006

Less	FINANCIAL EXPENSES (D)		2.950	3.167	2.773

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2.634	2.904	3.233

Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.489	2.777	3.117

	PROFIT BEFORE TAX (E-F) (G)		0.145	0.127	0.116

Less	TAX (H)		0.045	0.039	0.036

	PROFIT AFTER TAX (G-H) (I)		0.100	0.088	0.080

	Earnings Per Share (Rs.)		0.60	0.52	0.47

KEY RATIOS

PARTICULARS		31.03.2014 [Provisional]	31.03.2013	31.03.2012
PAT / Total Income	(%)	0.81	0.74	0.77

Net Profit Margin (PBT/Sales)	(%)	1.38	1.22	1.27

Return on Total Assets (PBT/Total Assets}	(%)	0.26	0.25	0.25

Return on Investment (ROI) (PBT/Networth)		0.01	0.01	0.01

Debt Equity Ratio (Total Debt/Networth)		3.55	2.98	2.90

Current Ratio (Current Asset/Current Liability)		1.43	1.56	1.41

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particulars	31.03.2012	31.03.2013	31.03.2014 [Provisional]
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	1.680	1.680	1.680
Reserves & Surplus	11.046	11.134	11.234
Net worth	12.726	12.814	12.914

Long-term borrowings	24.270	25.578	23.570
Short term borrowings	12.611	12.553	22.222
Total borrowings	36.881	38.131	45.792
Debt/Equity ratio	2.898	2.976	3.546

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014 [Provisional]
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	9.159	10.427	10.484
		13.844	0.547

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014 [Provisional]
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	9.159	10.427	10.484
Profit	0.080	0.088	0.100
	0.87%	0.84%	0.95%

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	No
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three 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	No
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	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
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

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

UNSECURED LOANS

(RS. IN MILLIONS)

PARTICULARS	31.03.2014 [Provisional]	31.03.2013
LONG-TERM BORROWINGS
Loans and advances from related parties	3.810	9.892
Other loans and advances	10.164	3.768

Total	13.974	13.660

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

COMPUTATION OF TOTAL INCOME

(RS. IN MILLIONS)

PARTICULARS	31.03.2013

INCOME UNDER HEAD “BUSINESS OR PROFESSION”

Profit / (Loss) as per Profit and Loss Account	0.127

Add: Depreciation as per Companies Act	2.777

Less: Depreciation as per Income Tax Act	2.667

Net Income / (Loss) from Business or Profession	0.237

INCOME FROM OTHER SOURCES	0.000

Gross Total Income / (Loss)	0.237

Less: Deduction under Chapter VIA	0.000

Net Total Income / (Loss)	0.237

Net Total Income / (Loss) round off	0.237

Tax on Total Income	0.000

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

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(RS. IN MILLIONS)

SR. NO.		PARTICULARS	31.03.2015	31.03.2016	31.03.2017
			Estimates	Projections	Projections

1		GROSS SALES
	i)	Export sales	0.000	0.000	0.000

	ii)	Local sales	12.000	13.200	14.200

		Total	12.000	13.200	14.200

2		Less: Excise duty	--	--	--

3		Net Sales ( item 1 - item 2 )	12.000	13.200	14.200

4		% age rise (+) or fall (-) in net sales compared to previous year (annualised)	--	--	--

5		COST OF SALES
	i)	Raw Materials including Stores, Spares etc.	0.000	0.000	0.000

	ii)	Raw Materials
		a) Imported	--	--	--
		b) Indigenous	--	--	--

	iii)	Power and Fuel	3.715	3.929	4.155

	iv)	Direct Labour [Factory Wages and Salaries]	--	--	--

	v)	Other Manufacturing expenses	1.790	1.870	1.960

	vi)	Depreciation	2.214	1.970	1.753

		SUB TOTAL (I TO VI)	7.719	7.769	7.868

		Add: Opening stocks-in-Process)	0.000	0.000	0.000

		SUB-TOTAL	7.719	7.769	7.868

		Deduct: Closing stocks-in-process	0.000	0.000	0.000

		Cost of Production	7.719	7.769	7.868

		Add: Opening stock of finished goods	0.000	0.000	0.000

		Purchase of finished goods	0.000	0.000	0.000

		SUB-TOTAL	7.719	7.769	7.868

		Deduct: Closing stock of finished goods	0.000	0.000	0.000

		SUB-TOTAL (Total cost of Sales)	7.719	7.769	7.868

6		Selling, General and Administrative expenses	1.542	1.624	1.676

7		SUB-TOTAL (5+6)	9.261	9.393	9.544

8		Operating profit before interest ( 3-7 )	2.739	3.807	4.656

9		Interest	3.550	3.400	3.150

10		Operating profit after interest (8-9)	(0.811)	0.407	1.506

11	(i)	Add: Other non-operating income
	(a)	License Premium	--	--	--
	(b)	Other Income	2.000	2.100	2.200

		Sub-total ( income )	2.000	2.100	2.200

	(ii)	Deduct: Other non-operating expenses
	(a)	Preliminary Expenses	0.000	0.000	0.000
	(b)		--	--	--

		Sub-total ( expenses )	0.000	0.000	0.000

	(iii)	Net of other non-operating income/ expenses	2.000	2.100	2.200

12		Profit before tax/loss [10+11(iii)]	1.189	2.507	3.706

13		Provision for taxes	0.000	0.000	0.000

14		Net Profit/ Loss for the year ( 12-13 )	1.189	2.507	3.706

15		(a) Partners Withdrawals	--	--	--
		(b) Transfer to General Reserve	--	--	--
		(c) Tax on Proposed Dividend	--	--	--
		(d) Modvat Credit Reserves	--	--	--
		(e) Balance brought forwards	(0.085)	1.104	3.611

16		Retained Profit ( 14-15 )	1.104	3.611	7.317

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

ANALYSIS OF BALANCE SHEET

(RS. IN MILLIONS)

SR. NO.		PARTICULARS	31.03.2015	31.03.2016	31.03.2017
			Estimates	Projections	Projections
		CURRENT LIABILITIES
1		Short-term borrowings from banks (including bills purchased, discounted and excess borrowing placed on repayment basis)
		(i) From applicant banks	29.000	29.000	29.000
		(ii) From other banks	0.000	0.000	0.000
		(iii) Of which BP & BD	--	--	--

		SUB TOTAL	29.000	29.000	29.000

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

3		Sundry Creditors (Trade)	0.000	0.000	0.000

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

5		Provision for taxes	0.000	0.000	0.000

6		Dividend payable	--	--	--

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

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

9		Other current liabilities and provisions (due within 1 Year) (specify major items)	0.110	0.150	0.200
	(i)	Labour	--	--	--
	(ii)		--	--	--
	(iii)		--	--	--

		SUB-TOTAL (B)	0.110	0.150	0.200

		TOTAL CURRENT LIABILITIES	29.110	29.150	29.200

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

12		Preference Shares [Redeemable after one year]	--	--	--

13		Term loans (excluding installment payable within one year)	9.596	7.196	0.000

14		Deferred Payment Credits (excluding installments due)	--	--	--

15		Term Deposits [repayable after one year]	--	--	--

16		Other term liabilities	13.975	13.975	13.975

17		TOTAL TERM LIABILITIES	23.571	21.171	13.975

18		TOTAL OUTSIDE LIABILITIES	52.681	50.321	43.175

		NET WORTH

19		Share capital	1.680	1.680	1.680

20		Profit Reserve	--	--	--

21		Revaluation reserve	--	--	--

22		Other reserve	11.320	11.320	11.320

23		Surplus (+) or deficit (-) in Profit & Loss Account	1.104	3.611	7.317

24		NET WORTH	14.104	16.611	20.317

25		TOTAL LIABILITIES	66.785	66.932	63.492

		ASSETS

26		Cash and Bank Balances	0.073	0.140	0.103

27		Investments [Other than long term investments]
	(i)	Government and other trustee securities	--	--	--

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

28	(i)	Export receivables (Local purchased and discounted by banks)	--	--	--

	(ii)	Export receivables (including bills purchased and discounted by banks)	--	--	--

29		Installments of deferred Receivables (due within one year)	--	--	--

30		Inventory:
	(i)	Raw materials (including stores & other items used in the process of manufacture)
		(a) Imported	--	--	--

		(b) Indigenous	--	--	--

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

	(iii)	Finished goods	--	--	--

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

31		Advance to farmers	42.800	44.800	48.100

32		Advance payment of taxes	--	--	--

33		Other Current assets (To be received within one year)	0.479	0.529	0.579
	(a)		--	--	--
	(b)		--	--	--

34		TOTAL CURRENT ASSETS	43.352	45.469	48.782

		FIXED ASSETS

35		Gross Block (Land & Building machinery, work-in-process)	36.539	36.539	36.539

36		Depreciation to date	18.236	20.206	21.959

37		NET BLOCK	18.303	16.333	14.580

		OTHER NON-CURRENT ASSETS
38		Investment/ book debts/ advances/ deposits which are not current assets

	(i)	a) Investment in subsidiary Co./affiliates	--	--	--

		b) Other Deposits	5.000	5.000	0.000

	(ii)	Advances to suppliers of capital goods & contractors	--	--	--

	(iii)	Deferred receivables [Maturity exceeding one year]	--	--	--

	(iv)	Others / Deposits	--	--	--

39		Non-consumables stores & spares	--	--	--

40		Other non-current assets including dues from Directors	0.130	0.130	0.130

41		TOTAL OTHER NON-CURRENT ASSETS	5.130	5.130	0.130

42		Intangible assets (patents, goodwill, prelim. expenses, bad/ doubtful expense not provided for etc.)	0.000	0.000	0.000

43		TOTAL ASSETS (34+37+41+42)	66.785	66.932	63.492

44		TANGIBLE NET WORTH [24-42]	14.104	16.611	20.317

45		NET WORKING CAPITAL [[17+24] – [37+41+42]] to tally with [34-10]	14.242	16.319	19.582

46		Current Ratio	1.49	1.56	1.67

47		Total Outside Liabilities / Tangible Networth [18/44]	3.74	3.03	2.13

48		Debt/ Equity Ratio	1.67	1.27	0.69

49		Total Inventory / Net Sales Ratio	0.00	0.00	0.00

50		Receivables/ Net Sales Ratio	0.00	0.00	0.00

51		PAT / Net Sales	0.10	0.19	0.26

52		PAT / NW	0.08	0.15	0.18

		ADDITIONAL INFORMATION

	A.	Arrears of Depreciation	0.000	0.000	0.000

	B.	Contingent Liabilities
		a) Arrears of Cumulative Dividend	0.000	0.000	0.000
		b) Gratuity Liability not provided for	0.000	0.000	0.000
		c) Disputed Excise/ Custom/ Tax Liabilities	0.000	0.000	0.000
		d) Other Liabilities not provided for	0.000	0.000	0.000

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

FUND FLOW STATEMENT

(RS. IN MILLIONS)

SR. NO.		PARTICULARS	31.03.2015	31.03.2016	31.03.2017
			Estimates	Projections	Projections

1		SOURCES
	a.	Net Profit (After Tax)	1.189	2.507	3.706

	b.	Depreciation	2.214	1.970	1.753

	c	Increase in Capital	0.000	0.000	0.000

	d.	Increase in Total Liabilities including public deposits	0.000	0.000	0.000

	e.	Decrease in
		i) Fixed Assets	0.000	0.000	0.000
		ii) Other Non-Current Assets	0.000	0.000	0.000

	f	Others	--	--	--

	g.	TOTAL	3.403	4.477	10.459

2		USES
	a.	Net Loss	0.000	0.000	0.000

	b.	Decrease in Term Liabilities including Public Deposits	2.400	2.400	7.196

	c.	Increase in
		i) Fixed Assets	0.000	0.000	0.000
		ii) Other Non-current assets	0.000	0.000	0.000

	d.	Dividend Payment	0.000	0.000	0.000

	e	Others	0.000	0.000	0.000

	f	TOTAL	2.400	2.400	7.196

3		Long Term Surplus/Deficit [1-2]	1.003	2.077	3.263

4		Increase/decrease in Current Assets	7.371	2.117	3.313

5		Increase/decrease in Current Liabilities other than Bank Borrowings	(0.410)	0.040	0.050

6		Increase/decrease in Working Capital Gap	7.781	2.077	3.263

7		Net Surplus (+) Deficit (-) [Difference of 3 and 6]	(6.778)	0.000	0.000

8		Increase/decrease in Bank Borrowings	6.778	0.000	0.000

		Increase/decrease in Net Sales	1.516	1.200	1.000

		* Break up of (4)

		[i] Increase/decrease in Raw material	0.000	0.000	0.000

		[ii] Increase/decrease in Stock in process	0.000	0.000	0.000

		[iii] Increase/decrease in finished goods	0.000	0.000	0.000

		[iv] Increase/decrease in Receivables
		[a] Domestic	0.000	0.000	0.000
		[b] Export	0.000	0.000	0.000

		[v] Increase/decrease in other Current Assets	7.371	2.117	3.313

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

COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017
		Estimates	Projections	Projections
A	CURRENT ASSETS

1	Raw Materials (including stores and other items used in the process of manufacture)
	(a) Imported	0.000	0.000	0.000
	Months' Consumption	0.00	0.00	0.00

	(b) Indigenous	0.000	0.000	0.000
	Months' Consumption	0.00	0.00	0.00

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

	(b) Indigenous	0.000	0.000	0.000
	Months' Consumption	0.00	0.00	0.00

3	Stock in Process	0.000	0.000	0.000
	Months' Cost of Production	0.00	0.00	0.00

4	Finished Goods	0.000	0.000	0.000
	Months' Cost of Sales	0.00	0.00	0.00

5	Receivables other than Export and Deferred Receivables (including Bills Purchased and Discounted by Bankers)	0.000	0.000	0.000
	Months' Domestic Sales excluding Deferred Sales	0.00	0.00	0.00

6	Export Receivables (including Bills Purchased & Discounted by Bankers)	0.000	0.000	0.000
	Months' Export Sales	0.00	0.00	0.00

7	Advances to Suppliers of Raw Materials and Stores/ Spares Consumables	42.800	44.800	48.100

8	Other Current Assets including Cash and Bank Balances and Deferred Receivables Due within one year (Specify major items)	0.552	0.669	0.682

9	TOTAL CURRENT ASSETS ( To agree with Item 34 In FORM III )	43.352	45.469	48.782

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

10	Creditors for Purchase of Raw Materials, Stores and Consumable Spares	0.000	0.000	0.000
	Months' Purchases	--	--	--

11	Advances from Customers	0.000	0.000	0.000

12	Statutory Liabilities	0.000	0.000	0.000

13	Other Current Liabilities (Specify major items) Short Term Borrowings, Unsecured loans, Dividend Payable, Installments of Term Loan/ DPG's/ Debentures etc.	0.110	0.150	0.200

14	TOTAL CURRENT LIABILITIES ( To agree with Sub-Total B In Form III )	0.110	0.150	0.200

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

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLIONS)

SR. NO	PARTICULARS	31.03.2015	31.03.2016	31.03.2017
		Estimates	Projections	Projections
1	Total Current Assets (Form IV)	43.352	45.469	48.782

2	Current Liabilities (other than bank borrowings) (14 of Form IV)	0.110	0.150	0.200

3	Working Capital Gap (WCP) (1-2)	43.242	45.319	48.582

4	Minimum stipulated net working Capital - 25% of total current assets other than Export Receivables (as at 28(ii) of form III)	10.838	11.367	12.196

5	Actual/projected net working capital (45 in form III)	14.242	16.319	19.582

6	Item 3 minus item 4	32.404	33.952	36.387

7	Item 3 minus item 5	29.000	29.000	29.000

8	Maximum permissible bank finance (item 6 or 7 whichever is less)	29.000	29.000	29.000

9	Excess borrowings, if any representing short fall in NWC (4-5)	0.000	0.000	0.000

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

STATEMENT OF ASSETS AND LIABILITIES

MR. MAHIPAL DIGAMBER SINGH

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	AMOUNT IN MILLIONS

1	Commercial Land at Bilara, measuring 15 Bigha	4.000

2	Land at Midhawali, Post Mai, Sadabad, 45 Bigha	20.000

3	Residential Flat at 305, Navbharat Apartment, Near Amar Vihar, Dayalbagh, Agra	2.000

4	LIC	0.112

5	Tanker UP86 – B 9707	0.950

6	Safari UP86H1929	0.590

7	Beat UP80 CF2842	0.530

8	Jewellery	1.000

9	Cash and Bank Balance	0.950

10	Potato Stock	1.150

11	Investment in Kisan Agro Foods Private Limited	0.300

12	Investment in Abhi Cold Storage Private Limited	2.080

	TOTAL	33.662

	Less: Liabilities	0.000

	NETWORTH	33.662

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

STATEMENT OF ASSETS AND LIABILITIES

MR. DIGAMBER SINGH CHAUDHARY

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	AMOUNT IN MILLIONS

1	Agricultural Land at Dhamoli, Sadabad measuring 10.00 Bigha	4.000

2	Jewellery	1.070

3	Cash and Bank Balance	1.470

4	Potato Stock	1.620

5	Investment in Kisan Agro Foods Private Limited	0.465

6	Investment in Abhi Cold Storage Private Limited	1.375

	TOTAL	10.000

	Less: Liabilities	0.000

	NETWORTH	10.000

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

VALUATION REPORT

PROPERTY IN NAME OF MRS. ARTI SINGH ELSE ARMY SINGH W/O SH. CH. PRATAP SINGH LOCATED AT PROP. AT KHASRA NO. 1172, AGRA ROAD, SADABAD, HATHRAS

(GENERAL DETAILS)

Purpose for which valuation is made

Bank Finance

Date as on which valuation is made

04.12.2013

Name of the Owner

Mrs. Arti Singh else Army Singh [91-9758144551]

It the property is under Joint Ownership/ Co Ownership Share of each such owners are the shares undivided?

Sole Ownership

Brief description of the property

It is a Open Land with Outer B/ wall having 2 Room. The Proprietor having more extra land at site.

Dimension of the site

North

South

East

West

As verified

55’

30’

Boundaries of the property

North

South

East

West

As verified

Rasta

Prop. Kavita Furniture

Others Land

Agra Hatheas Road

Location, Street, Ward No.

Agra Road, Sadabad, Hathras

Survey/Plot No. of Land

Prop. At Khasra No. 1172

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

Mixed Area

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

MIG

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

All within 1.00 Km of property

Means and proximity to surface communication by the locality is served

B.T. Road

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

Plot Area = 500.00 Sq. Mt.

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

Freehold

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

Residential

Is the building owner-occupied / tenanted / both?

Owner occupied

What is the Floor Space Index permissible and percentage actually utilized?

FSI used = N/A

Permitted = 1.50

If a lift is installed, who is to bear the cost of maintenance and operation – owner or tenant

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?

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

Based on enquired in their opinion fair market rate of lands on this road is Rs. 20000/- to Rs. 25000/- per Sq. Mt. This land is close to open no main land used for slighting Animals. Hence the land value is lower. They considered the rate to be same as guideline rate.

Dimension of the plot

As per deed

Total area of the plot

500.00 Sq. Mt.

Prevailing Market rate

As above

Guideline rate obtained from the Registrar Office

Rs. 15000/- Per Sq. Mt.

Assessed adopted rate of Valuation

Rs. 15000/- Per Sq. Mt.

Estimated value of the land

Rs. 7.500 Millions

SUMMARY OF VALUATION

PARTICULARS	RS. IN MILLIONS

Part I Land	Rs. 7.500 Millions

Part II B/ wall and 1 Room	Rs. 0.500 Million

Part III Projection	--

Total	Rs. 8.000 Millions

The overall fair market value of the property is Rs. 8.000 Millions.

The realisable sale value of property may reduce to Rs. 7.000 Millions.

VALUATION CHART

PARTICULARS	RS. IN MILLIONS

Value of Chambers	21.075

Value of Other Structure	6.236

Value of Development Internal	0.500

Total Value of Construction	27.811

Add: Value of Land	7.872

Add: Value of Plant and Machinery	5.880

Total Value	41.563

VALUATION OF LAND

The land is located at Khata No. 76, Khasra No. 394 and 395, Village Naupura, Tehsil Sadabad, Hathras.

1) The land surrounding the Cold Storage, although sold out. Are yet having mixed occupancy, i.e. some Commercial activity is mushrooming, Block Office exists, thus cold storage exists some shops also, but larger areas in agriculture occupancy.

2) The land is well developed and is above road level and not prone to water logging.

3) The land is irregular in shape, and is freehold.

4) The total area as per deed is 9840.00 Sq. Mt.

5) As per enquires made the land in this area have transacted for Rs. 1.500 Millions per Bigha. Which rate reflects a net rate of Rs. 650.00 per Sq. Mt. land being developed and converted, there is a value addition of 25% or the rate is Rs. 800/- per Sq. Mt. Accordingly it is valued below.

· Not many lands have been transacted of similar states as not many vacant lands exist such status.

· ADM Finance has prescribed Land Rates under Stamp Act for the area as Rs. 1600/- per Sq. Mt. for Non-Agricultural land facing main Road and Rs. 260/- per Sq. Mt. for agricultural lands facing road or abadi.

Considering all these factors, land being large and a significant portion is in the rear, they have considered the value Rs. 800/- per Sq. Mt.

Hence value of land 9840.00 Sq. Mt. @ Rs. 800/- Sq. Mt.

Rs. 7.872 Millions

VALUATION OF CONSTRUCTION

The said cold storage is located as detailed earlier on the same land. The entire cold storage specification was thoroughly inspected and a detailed measurement was carried out. The cold storage areas as measured are as detailed below.

	CHAMBER DETAILS

Chamber No.	Both 1-2

Size Ft.	235’-0” x 88’ -6”

Area Sq. Mt.	1932.13 Sq. Mt.

No. of Storeys	6 Story

Pillar	8” x 8” x 8’ -6” Ht.

Beam Sect.	5” x 7”

Height	8’ -6” Ft.

No. of R.C.C. Pillars	2 x (13 x 18)

Other Structures

DESCRIPTION OF SPACE	SIZE	AREA
Machine Room	62’ -0” x 38’ -9”	223.19 Sq. Mt.

Condenser Tank	60’ -0” x 30’ -0”	167.23 Sq. Mt.

Double Story Rooms	13’ -3” x 36’ -0”	44.31 Sq. Mt.

Shed Room	83’ -0” x 15’ -6”	119.51 Sq. Mt.

Cold Storage Chamber

As inspected two chambers existed at site and were built up of 13½“ thick brick work walls. Inside of the chamber was constructed with row of 8” x 8” R.C.C. pillars and with 5” x 7” R.C.C. Beams. The beams were constructed at height of 8’ -6”each floor, for 7 tiers, thus forming 7 storage rack – storey’s for potato storage.

Foundations

All were load bearing structure viz. spreading, footing type foundation of placed on sound bearing capacity soil.

Walls	13½“ thick brick work set in cement mortar

Roof	R.C.C.

Flooring	Plain Cement Concrete

Finishes	Industrial

Net Plinth area rate for similar Structure as on date 27.06.2000	Rs. 3800.00 per Sq. Mt.

Add: For super structure height being more by 43 at the rate of Rs. 80.00 Sq. Mt.	Rs. 3440.00 per Sq. Mt.
	_______________

Therefore total Plinth area rate	Rs. 7240.00 per Sq. Mt.

Add: Escalation over the period 50%	Rs. 3620.00 per Sq. Mt.
	_______________

Total P.A. Rate	Rs. 10860.00 per Sq. Mt.

Only the super structure exist with no partition, no finish, no joinery, no flooring only 60% of the basic rate is applicable	Rs. 6500.00 per Sq. Mt.

Total Plinth area of the Cold Storage as measured and detailed already

Hence value of construction for 3 chambers

Of Height 54 Ft

1932 Sq. Mt. @ Rs. 6500 per Sq. Mt.

Rs. 12.558 Millions

Extra Items

R.C.C. Pillars

468 cum @ Rs. 9200/- cum

Rs. 4.306 Millions

Tie R.C.C. Beams 148 cum Rs. 9200.00/- cum	Rs. 1.362 Millions

Salwood Racks in the tiers made out of 3” x 4” Rafter with 1 ½ x 3” styles 3192 nos. @ Rs. 1000/- Rack	Rs. 3.192 Millions
	________________

Total Investment in Insulation	Rs. 2.000 Millions

Add: Value of Structure	Rs. 23.417 Millions
	________________

Less: Deprecation 5 Year Usages	Rs. 2.342 Millions
	________________

Total Value of Chamber Structure	Rs. 21.075 Millions

Machine Room / Generator Room

One machine rooms as inspected were found attached to the Cold Storage Chambers and were housed with compressors and is part of Cold Storage. The said structure which was simply a load bearing structure had following specification:

Walls

First class brick work set in cement mortar plastered from both side.

Foundation

Spreading footing type.

Flooring

Plain cement concrete

Roofing

RCC, no joinery or any special finishes.

Similar building considering similar specification and 5 years usage will have plinth area rate as Rs. 4000/- per Sq. Mt. after deduction of usage.

Total plinth area as measured	223.19 Sq. Mt.

Hence value of Machine Room	223.19 Sq. Mt. @ Rs. 4000/- Sq. Mt.

	Rs. 0.893 Million [A]

Sorting out Shed

The same shed was mainly used for sorting out, pre-cooling of potatoes before they are stored in the Cold Storage. The said structure as inspected had following specification:

Total Area

R.C.C. Shed

568.00 Sq. Mt. + 532.00 Sq. Mt.

1100.00 Sq. Mt.

Similar structure after discounting for usage will have plinth area rate of Rs. 750/- for G.C.I. roofed area, after deduction of usage.

B)	Hence value of the same shed is established as 1100.00 Sq. Mt. @ Rs. 3500/- Sq. Mt.	Rs. 3.850 Millions [B]

C)	Condenser Tank of Size 167.22 Sq. Mt. @ Rs. 5500/- Sq. Mt. [After deduction of usage]	Rs. 0.920 Million [C]

D)	Value of Miscellaneous 229.35 Sq. Mt. @ Rs. 2500/- Sq. Mt.	Rs. 0.573 Million [D]

	Thus adding Total Value of Other Structure [A+B+C+D]	Rs. 6.236 Millions

Interval Development

Total value of B/wall

Rs. 0.500 Million

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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10118628	26/02/2014 *	22,000,000.00	ORIENTAL BANK OF COMMERCE	RAM NAGAR, KHANDOLI, AGRA, UTTAR PRADESH - 282002, INDIA	C01030188
2	10118648	21/08/2008	22,800,000.00	ORIENTAL BANK OF COMMERCE	RAM NAGAR, KHANDOLI, AGRA, UTTAR PRADESH - 282002, INDIA	A44304178

* Date of charge modification

FIXED ASSETS:

· Building

· Plant and Machinery

· Electric Fittings

· Air Conditioner

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

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. 61.25
UK Pound	1	Rs. 98.68
Euro	1	Rs. 77.60

INFORMATION DETAILS

Information Gathered by :	HNA

Analysis Done by :	RAS

Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	2
--RESERVES	1~10	4
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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

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

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

RATING EXPLANATIONS

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

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

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

MIRA INFORM REPORT

Unit