MIRA INFORM REPORT

Report Date :

02.09.2014

IDENTIFICATION DETAILS

Name :	ABAJ ELECTRONICS PRIVATE LIMITED
Registered Office :	211-213, Devnandan Mall, Opposite Sanyas Ashram, Ashram Road, Ellisbridge, Ahmedabad – 380006, Gujarat
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	29.12.2010
Com. Reg. No.:	04-063430
Capital Investment / Paid-up Capital :	Rs. 20.000 Millions
CIN No.: [Company Identification No.]	U29306GJ2010PTC063430
IEC No.:	0810027844
TAN No.: [Tax Deduction & Collection Account No.]	AHMA10337F
PAN No.: [Permanent Account No.]	AAJCA0731C
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Importer of LED and LCD TV.
No. of Employees :	24 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Not Available
Comments :	Subject is an established company having moderate track record. Rating reflects moderate financial risk profile due to low profitability and reserves. However, trade relations are fair. Business is active. Payment terms are 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	A1	A1

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

INDIAN ECONOMIC OVERVIEW

N E W S

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years.  China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes that many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies.  A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

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. Dharmendra Shantilal Patel
Designation :	Director
Contact No.:	91-9879131503
Date :	30.08.2014

LOCATIONS

Registered Office :	211-213, Devnandan Mall, Opposite Sanyas Ashram, Ashram Road, Ellisbridge, Ahmedabad – 380006, Gujarat, India
Tel. No.:	91-79-49009400/ 65445400
Mobile No.:	91-9879131503 [Mr. Dharmendra S. Patel]
Fax No.:	Not Available
E-Mail :	info@abajworld.com avinash.bhardwaj@abajworld.com sanatan.s@abajworld.com nileshpthakkar@gmail.com dharmendra.patel@abajworld.com nirav.patel@abajworld.com
Website :	http://www.abajworld.com
Location :	Rented
Regional Office 1 :	A-7 Manu Vihar,Behind of Road No. 9F2, Vki Area, Jaipur, Rajasthan, India
Branch/ Regional Office 2 :	20, Siddharth Compound, Lasudiya Mori, Dewas Naka, Indore, Madhya Pradesh, India
Branch Office 1 :	59, Rameshwaram, Subhasnagar, Shastrinagar, Jaipur – 302016, Rajasthan, India
Branch Office 3 :	Near Jeet Cold Storage, Ring Road No. 2, Gondhwara, Raipur, Chhattisgarh, India
Branch Office 4 :	C/O, Origin Logistics Private Limited A2/A5, Gagangiri Park, Samatanagar, Thane [West], Thane – 400602, Maharashtra, India

DIRECTORS

AS ON 23.05.2014

Name :

Mr. Sunilkumar Babubhai Patel

Designation :

Director

Address :

3, Bhaktinandan Society, Viratnagar Road, Odhav, Ahmedabad – 382415, Gujarat, India

Date of Birth/Age :

18.10.1983

Qualification :

M.E. in Chemicals

Date of Appointment :

18.11.2011

PAN No.:

AOIPP4827Q

DIN No.:

01843027

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	U24290GJ1996PTC028958	ECO POLYMERS PRIVATE LIMITED	Director	01/12/2003	01/12/2003	18/07/2008	Active	YES
2	U24119GJ2006PTC049526	ECO POLYCHEM PRIVATE LIMITED	Director	05/12/2006	05/12/2006	-	Active	YES
3	U29306GJ2010PTC063430	ABAJ ELECTRONICS PRIVATE LIMITED	Director	18/11/2011	18/11/2011	-	Active	NO

Name :

Mr. Manishkumar Babubhai Patel

Designation :

Director

Address :

3, Bhaktinandan Society, Viratnagar Road, Odhav, Ahmedabad – 382415, Gujarat, India

Date of Birth/Age :

25.11.1986

Qualification :

B. Com

Date of Appointment :

18.11.2011

PAN No.:

AOIPP4829A

DIN No.:

01843040

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	U24290GJ1996PTC028958	ECO POLYMERS PRIVATE LIMITED	Director	15/10/2004	15/10/2004	18/07/2008	Active	YES
2	U24119GJ2006PTC049526	ECO POLYCHEM PRIVATE LIMITED	Director	05/12/2006	05/12/2006	-	Active	YES
3	U55101GJ2006PTC049673	HOTEL SAHAJ PALACE PRIVATE LIMITED	Director	14/12/2009	14/12/2009	19/04/2010	Active	NO
4	U29306GJ2010PTC063430	ABAJ ELECTRONICS PRIVATE LIMITED	Director	18/11/2011	18/11/2011	-	Active	NO

Name :

Mr. Niravkumar Navnitbhai Patel

Designation :

Director

Address :

A 131, Karnavati Bunglows, Nava Naroda, Ahmedabad – 382350, Gujarat, India

Date of Birth/Age :

01.11.1989

Qualification :

E.C in Electronics

Date of Appointment :

29.12.2010

PAN No.:

AVNPP6439N

DIN No.:

03329045

Name :

Mr. Dharmendra Shantilal Patel

Designation :

Director

Address :

B-1, Shreeji Bapa Complex, Abaji - Bapashri Road, Vasna, Ahmedabad – 380007, Gujarat, India

Date of Birth/Age :

07.12.1983

Qualification :

B. Com

Date of Appointment :

29.12.2010

DIN No.:

03329066

KEY EXECUTIVES

Name :	Mr. Ranjeet
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON SEPTEMBER 2014

Names of Shareholders	No. of Shares	Percentage of Holding
Dharmendra Shantilal Patel	670000	14.89
Dharmendra Shantilal Patel – HUF	830000	18.44
Niravbhai Navnitlal Patel	1326667	29.48
Navnitbhai D. Patel	13000	0.29
Navnitbhai D. Patel - HUF	160333	3.56
Sunilbhai B. Patel	823750	18.31
Manishbhai Babubhai Patel	596250	13.25
Manishbhai Babubhai Patel – HUF	80000	1.78
Total	4500000	100.00

AS ON 23.05.2014

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

BUSINESS DETAILS

Line of Business :	Trader and Importer of LED and LCD TV.
Brand Names :	“ABAJ”
Terms :
Purchasing :	L/C and Credit [90 Days]

GENERAL INFORMATION

Customers :

Wholesalers

· Krishna Sales

Aurobille Appliances Private Limited

Bharat Electronics

Chetak Electronics

Gujarat Trading Company

Kutch Radio

Madhuraj Electronics

Om Electronics

No. of Employees :

24 (Approximately)

Bankers :

· Bank of India

Ashram Road Branch, Ahmedabad, Gujarat, India

The South Indian Bank Limited

Ground Floor, Sakar VII, Nehru Bridge Corner, Ashram Road, Ahmedabad – 380009, Gujarat, India

· ICICI Bank Limited

36 to 44, Sardar Patel Mall, Thakkar Bapunagar, Bapunagar – 382345, Gujarat, India

Facilities :

L/C = Rs. 50.000 Millions / Working Capital = Rs. 15.000 Millions [From Bank of India]

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG-TERM BORROWINGS
From Bank secured HDFC Bank Limited	0.606	0.779
Kotak Mahindra Bank Limited [secured against hypothecation of Vehicle]	0.608	0.805
SHORT TERM BORROWINGS
The South Indian Bank Limited [Cash Credit A/c secured against stock and book debts]	15.214	16.267
Total	16.428	17.851

Banking Relations :	--
Auditors :
Name :	B. Shah and Associates Chartered Accountants
Address :	8, Raja Shopping, Sector 22, Thol Road, Kadi, District Mehsana – 382715, Gujarat, India
Tel. No.:	91-2764-263979/ 240979
Mobile No.:	91-9825628475
E-Mail :	shah_asso@yahoo.co.in
Income-tax PAN of auditor or auditor's firm :	AEDPS5131D

CAPITAL STRUCTURE

AS ON SEPTEMBER 2014

Authorised Capital :

No. of Shares	Type	Value	Amount
4500000	Equity Shares	Rs. 10/- each	Rs. 45.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4500000	Equity Shares	Rs. 10/- each	Rs. 45.000 Millions

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs. 10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs. 10/- each	Rs. 20.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	20.000	2.500	0.100
(b) Reserves & Surplus	2.713	0.303	0.103
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	25.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	47.713	2.803	0.203
(3) Non-Current Liabilities
(a) long-term borrowings	1.214	1.584	1.929
(b) Deferred tax liabilities (Net)	0.269	0.152	0.048
(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)	1.483	1.736	1.977
(4) Current Liabilities
(a) Short term borrowings	41.288	44.548	11.063
(b) Trade payables	2.721	17.312	1.032
(c) Other current liabilities	10.214	4.734	0.220
(d) Short-term provisions	0.900	0.993	0.063
Total Current Liabilities (4)	55.123	67.587	12.378
TOTAL	104.319	72.126	14.558
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	29.550	3.620	3.622
(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	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.016	0.166	0.015
(e) Other Non-current assets	0.191	0.020	0.020
Total Non-Current Assets	29.757	3.806	3.657
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	29.008	15.605	9.248
(c) Trade receivables	31.899	19.397	0.277
(d) Cash and cash equivalents	1.203	19.446	0.269
(e) Short-term loans and advances	11.757	0.299	0.362
(f) Other current assets	0.695	13.573	0.745
Total Current Assets	74.562	68.320	10.901
TOTAL	104.319	72.126	14.558

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from Operations	87.469	32.632	0.486
		Other Income	9.906	0.666	1.195
		TOTAL (A)	97.375	33.298	1.681
Less	EXPENSES
		Purchases for Trading	84.114	33.637	9.676
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(13.403)	(6.357)	(9.248)
		Employees benefits expense	8.961	0.795	0.121
		Auditors Remuneration	0.025	0.000	0.000
		Other expenses	11.044	3.531	0.809
		TOTAL (B)	90.741	31.606	1.358
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		6.634	1.692	0.323
Less	FINANCIAL EXPENSES (D)		2.922	1.074	0.088
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.712	0.618	0.235
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.284	0.245	0.043
	PROFIT BEFORE TAX (E-F) (G)		3.428	0.373	0.192
Less	TAX (H)		1.018	0.173	0.085
	PROFIT AFTER TAX (G-H) (I)		2.410	0.200	0.107
	CIF VALUE OF IMPORTS		42.669	26.872	0.000
	Earnings Per Share (Rs.)		1.21	0.80	10.69

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
PAT / Total Income	(%)	2.47	0.60	6.37
Net Profit Margin (PBT/Sales)	(%)	3.92	1.14	39.51
Return on Total Assets (PBT/Total Assets}	(%)	3.29	0.52	1.32
Return on Investment (ROI) (PBT/Networth)		0.07	0.13	0.95
Debt Equity Ratio (Total Debt/Networth)		0.89	16.46	64.00
Current Ratio (Current Asset/Current Liability)		1.35	1.01	0.88

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.100	2.500	20.000
Reserves & Surplus	0.103	0.303	2.713
Share Application money pending allotment	0.000	0.000	25.000
Net worth	0.203	2.803	47.713
long-term borrowings	1.929	1.584	1.214
Short term borrowings	11.063	44.548	41.288
Total borrowings	12.992	46.132	42.502
Debt/Equity ratio	64.000	16.458	0.891

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	0.486	32.632	87.469
		6,614.403	168.047

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	0.486	32.632	87.469
Profit	0.107	0.200	2.410
	22.02%	0.61%	2.76%

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	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	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	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

PARTICULARS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
SHORT TERM BORROWINGS
From Other Parties From Directors	4.020	9.804
From Shareholders and their relatives	22.054	18.477
Total	26.074	28.281

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

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(RS. IN MILLIONS)

SR. NO		PARTICULARS	2014-15	2015-16
			Estimated	Projected
1		GROSS SALES
		a) Domestic Sales	300.000	350.000
		b) Export Sales	--	--
		c) Other Operating Income	--	--
		Total	300.000	350.000
2		Less: Excise Duty	--	--
3		Net Sales	300.000	350.000
4		%age rise (+) or fall (-) in net sales as compared to previous year	210.69%	16.67%
5		COST OF SALES
	i)	Raw materials (including Stores and other items used in the process of manufactured)
		Imported	249.600	288.500
		Indigenous	--	--
	ii)	Other Spares
		Imported	--	--
		Indigenous	--	--
	iii)	Power and Fuel	--	--
	iv)	Direct Labour (Factory wages & salaries)	10.500	12.600
	v)	Other Manufacturing Expenses	11.500	16.000
	vi)	Depreciation	0.540	0.448
	viii	Sub Total ( i to vii)	272.140	317.548
	ix	Add Opening stock-in Progress	--	--
		Sub-Total	272.140	317.548
	x	Deduct: Closing Stocks-in Process	--	--
	xi	Cost of Production	272.140	317.548
	xii	Opening stock of finished goods	--	--
		Sub-Total	272.140	317.548
	xiii	Deduct: Closing stock of finished goods	--	--
	xiv	SUB-TOTAL (Total cost of sales)	272.140	317.548
6		Selling Expenses and Administrative Expenses	15.500	17.000
7		SUB-TOTAL (5+6)	287.640	334.548
8		Operating Profit before interest (3-7)	12.360	15.452
9		Interest	2.024	3.076
10		Operating profit after interest (8-9)	10.336	12.376
11	(i)	Add other non-operating income
		Miscellaneous income	1.100	1.300
		Sub-total (income)	1.100	1.300
	(ii)	Deduct other non-operating expense
		(a) Developmental expense	2.594	2.594
		Subtotal (expenses)	2.594	2.594
	(iii)	Net of other non-operating incomes/ expenses	(1.494)	(1.294)
12		Profit before tax/loss	8.842	11.082
13		Provision for tax	2.653	3.325
14		Net Profit / (Loss)	6.189	7.757
15		(i) Equity dividend paid	--	--
		(ii) Dividend Rate %	--	--
16		Retained Profit	6.189	7.757
17		Retained profit / Net Profit (%age)	100%	100%

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

ANALYSIS OF BALANCE SHEET

(RS. IN MILLIONS)

SR. NO	PARTICULARS	2014-15	2015-16
		Estimated	Projected
	CURRENT LIABILITIES
1	Short term borrowings from bank (incl. Bills purchased, discounted & excess borrowings placed on repayment basis)
	(i) From applicant bank	15.000	15.000
	(ii) From other banks	--	--
	(iii) of which EP & BD	--	--
	Sub Total (A)	15.000	15.000
2	Short term borrowings from others	--	--
3	Sundry Creditors - Trade	53.061	55.917
4	Advance payments from customers/deposits from dealers	--	--
5	Provision for Taxation	--	--
6	Dividend Payable	--	--
7	Other statutory liabilities (due within one year)	--	--
8	Deposits/Instalments of term loan/ DPGs/ Debentures etc. (due within one year)	0.405	0.404
9	Other current liabilities & Provisions (due within one year)
	Accrued Expenses	1.563	1.900
	Misc. Current Liabilities 1	1.500	2.000
	Misc. Current Liabilities 3	1.063	1.130
	Sub Total (B)	57.592	61.351
10	Total Current Liabilities [total of 1 to 9]	72.592	76.351
	TERM LIABILITIES
11	Debentures (not maturing within one year)	--	--
12	Preference Shares (redeemable after one year)	--	--
13	Term loans (excluding instalments payable within one year)	0.404	--
14	Deferred Payment Credits (excl. instalments due within one year)	--	--
15	Term deposits (repayable after one year)	26.074	26.074
16	Other term liabilities	0.269	0.269
17	Total term liabilities (Total of 11 to 16)	26.747	26.343
18	Total Outside Liabilities [10+17]	99.339	102.694
	NET WORTH
19	Ordinary Share Capital	40.000	40.000
20	General Reserve	--	--
21	Revaluation Reserve	--	--
22	Other Reserves (Excluding Provisions)	5.000	5.000
	Share Premium
23	Surplus (+) or deficit (-) in Profit & Loss Account	8.902	16.659
24	Net Worth	53.902	61.659
25	TOTAL LIABILITIES [18+24]	153.241	164.353
	CURRENT ASSETS
26	Cash & Bank balances	8.919	6.389
27	Investments [other than long term investments]
	Government and Other Trustee Securities	--	--
	Fixed Deposits with Banks	--	--
28	[i] Receivables other than deferred and exports [Including Bills purchased/ Discounted by Banks]	31.250	36.458
	[ii] Export Receivables [Including Bills purchased/ Discounted by Banks]	--	--
29	Instalment of deferred receivables [due within 1 year]	--	--
30	Inventory
	(i) Raw materials (including stores and other items in process of manufacture)
	(a) Imported	--	--
	(b) Indigenous	62.400	72.125
	(ii) Stock-in-process	--	--
	(iii) Finished Goods	--	--
	(iv) Other consumable stores
	(a) Imported	--	--
	(b) Indigenous	--	--
31	Advance to suppliers of Raw materials & stores/spares	--	--
32	Advance payment of taxes	--	--
33	Other current assets
	Prepaid Expense	3.125	3.800
	Short term loans and advances	12.000	12.500
	Misc. Current assets	0.924	1.500
	LC Margin	8.000	8.000
34	Total Current Asset [Total 26 to 33]	126.618	140.772
	FIXED ASSETS
35	Gross Block (land & building machinery vehicles work-in-progress)	4.059	4.059
36	Depreciation to date	0.984	1.432
37	NET BLOCK (35-36)	3.075	2.627
	OTHER NON-CURRENT ASSETS
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 Other Investments	0.191	0.191
39	Non consumables stores & spare	--	--
40	Other non-current assets (incl. Dues from director)	0.015	0.015
41	Total other non-current assets (Total of 38 to 40)	0.206	0.206
42	Intangible assets (patents, goodwill, prelim, expenses, bad/ doubtful debts not provided for etc.)
	Technical Knowhow Fess	--	--
	Developmental Expenses	23.342	20.748
43	TOTAL ASSETS (Total of 34,37,41 & 42)	153.241	164.353
44	Tangible net worth (24-42)	30.560	40.911
45	Net working Capital Totally with (34-10)	54.026	64.421
46	Current Ratio [34/10]	1.74	1.84
47	Total Outside Liabilities / Net worth (18/44)	3.25	2.51

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

FUNDS FLOW STATEMENT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2014-15	2015-16
		Estimated	Projected
1	Sources
	[a] Net Profit (After Tax)	6.189	7.757
	[b] Depreciation	0.540	0.448
	[c] Increase in Capital	--	--
	[d] Increased in Term Liab. (including Public deposits)	--	--
	[e] Decrease in
	[i] Fixed Assets	--	--
	[ii] Other non-current Assets	2.594	2.594
	[f] Others	--	--
	[g] Total	9.323	10.799
2	Application
	[a] Net Loss	--	--
	[b] Decrease in Term Liab. (Incl. Public deposits)	0.810	0.404
	[c] Increase in
	[i] Fixed Assets	--	--
	[ii] Other non-current Assets	--	--
	[d] Dividend Payments	--	--
	[e] Others	--	--
	[f] Total	0.810	0.404
3	Long Term Surplus (+) / Deficit (-) (1 minus 2)	8.513	10.395
4	Increase/Decrease in current assets	52.057	14.154
5	Increase/Decrease in current Liabilities other than bank borrowings	43.758	3.759
6	Increase/Decrease in working capital Gap	8.299	10.395
7	Net Surplus (+) / deficit (-) (Difference of 3 & 6)	0.214	--
8	Increase/Decrease in Bank Borrowings	(0.214)	--
	Increase/Decrease in Net Sales	203.442	50.000
	* Break up of (4)
	[i] Increase/Decrease in Raw material	33.392	9.725
	[ii] Increase/Decrease in Stock in process	--	--
	[iii] Increase/Decrease in finished goods	--	--
	[iv] Increase/Decrease in Receivables
	[a] Domestic	(0.649)	5.208
	[b] Export	--	--
	[v] Increase/Decrease in stores & spares	--	--
	[vi] Increase/Decrease in other Current Assets	19.314	(0.779)

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

COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2014-15	2015-16
		Estimated	Projected
	A. CURRENT ASSETS:
1	Raw materials (including stores & other items used in the process of manufacture)
	Imported	--	--
	Months consumption	--	--
	Indigenous	62.400	72.125
	Months consumption	3	3
2	Other consumable spares, excluding those included in I above.
	Imported	--	--
	Months consumption	--	--
	Indigenous	--	--
	Months consumption	--	--
3	Stock in process	--	--
	Months cost of production :	--	--
4	Finished goods-Trading	--	--
	Months cost of sales	--	--
5	Receivables other than exports & deferred receivables (including Bills purchased & discounted by bankers )	31.250	36.458
	Months domestic sales excluding deferred Payment sales	1.25	1.25
6	Export receivables (incl. bills purchased & disc.)	--	--
	Months Export sales	--	--
7	Advance to suppliers of Raw materials & stores/spares	--	--
8	Other current assets incl. cash & bank balances & deferred receivable due within one year (specify major items)
	Cash/Bank	8.919	6.389
	Investment [Other than Long term Investments]	--	--
	Government and Other Trustee Securities	--	--
	Fixed Deposit with Banks	--	--
	Advance payment of taxes	--	--
	Other Current Assets [specify major items]
	Prepaid expenses	3.125	3.800
	Short term loans and advances	12.000	12.500
	Misc. Current assets	0.924	1.500
	LC Margin	8.000	8.000
9	TOTAL CURRENT ASSETS	126.618	140.772
	(To agree with item 39 in Form III)
	B. CURRENT LAIBILITES
	(Other than bank borrowings for working capital)
10	Creditors for purchase of raw materials, stores and consumables	53.061	55.917
	Months domestic Purchase [Month]	2.25	2.25
11	Advance payments from customers	--	--
12	Statutory liabilities	--	--
13	Other current liabilities [Specify major items]
	Short term Borrowings from others	--	--
	Provision for taxation	--	--
	Dividend payable	--	--
	Deposits/Instalments of Term Loans/ DPG’s/ Debentures etc. [due within one year]	0.405	0.404
	Misc. Current Liabilities	--	--
	Accrued expenses	1.563	1.900
	Misc. Current Liab. 1	1.500	2.000
	Misc. Current Liab. 3	1.063	1.130
14	TOTAL	57.592	61.351
	(To agree with sub-total B-Form III)

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

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLIONS)

SR. NO	PARTICULARS	2014-15	2015-16
		Estimated	Projected
1	Total Current Assets (9 in Form IV)	126.618	140.772
2	Other Current Liabilities (other than bank borrowings) (14 of Form IV)	57.592	61.351
3	Working Capital Gap (WCP)	69.431	79.825
4	Minimum stipulated net working Capital - 25% of total current assets other than Export Receivables (as at 28(ii) of form III)	17.358	19.956
5	Actual/projected net working capital (45 in form III)	54.431	64.825
6	Item 3 minus item 4	52.073	59.869
7	Item 3 minus item 5	15.000	15.000
8	Maximum permissible bank finance (item 6 or 7 whichever is less)	15.000	15.000
9	Excess borrowings, if any representing short fall in NWC (4-5)	--	--

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

NETWORTH STATEMENT

MR. SUNILKUMAR BABULAL PATEL

(RS. IN MILLIONS)

LIABILITIES		ASSETS
Secured Loan		Fixed Assets
Car Loan	0.486	Jewelers	0.095
		Honda City Car	0.690
TOTAL NETWORTH	5.572	Bank Balance with
		ICICI Bank Limited	0.012
		Cash in Hand	0.015
		Loans and Advances Abaj Electronics Private Limited	5.246
Total	6.058	Total	6.058

SOURCE OF INCOME

PARTICULARS	ANNUAL INCOME
Remuneration received	0.260
Profit received	0.411
Interest received	0.002
TOTAL ANNUAL INCOME	0.673

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

NETWORTH STATEMENT

MR. DHARMENDRA SHANTILAL PATEL

(RS. IN MILLIONS)

LIABILITIES		ASSETS
Secured Loan		Fixed Assets
Car Loan	0.667	Residential Flat at B/4, Shreeji Bapa Complex – Vasna	2.000
		Verna Car	1.151
		Jewelers	1.000
TOTAL NETWORTH	11.143	Investments Paid up in LIC Policy	0.357
		State Bank of India PPF Account	0.393
		Bank Balance with ICICI Bank Limited	0.009
		Bank of Baroda	0.016
		State Bank of India	0.006
		Cash in Hand	0.026
		Loans and Advances Balance with Abaj Electronics	6.852
Total	11.810	Total	11.810

SOURCE OF INCOME

PARTICULARS	ANNUAL INCOME
Salary Income	0.424
Remuneration received	0.065
Brokerage Income	0.184
TOTAL ANNUAL INCOME	0.673

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

NETWORTH STATEMENT

MRS. CHAMPABEN SHANTILAL PATEL

(RS. IN MILLIONS)

LIABILITIES		ASSETS
		Fixed Assets
		Residential Bunglow B-30 Simandhar Bunglow, Gandhinagar	15.000
TOTAL NETWORTH	16.000	Jewelers	1.000
		Investments	--
		Bank Balance with	--
		Loans and Advances	--
Total	16.000	Total	16.000

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

NETWORTH STATEMENT

MR. NIRAVBHAI NAVNEETBHAI PATEL

(RS. IN MILLIONS)

LIABILITIES		ASSETS
Secured Loan		Fixed Assets
Car Loan	1.355	Jewelers	0.700
		Innova Car 7204	1.071
		Cruze Car	1.297
TOTAL NETWORTH	17.892	Investments LIC of India	0.110
		N.S.C.	0.020
		Bank Balance with ICICI Bank Limited	0.027
		Kotak Mahindra Bank	0.018
		Cash in Hand	0.018
		Loans and Advances Abaj Electronics Private Limited	15.986
Total	19.247	Total	19.247

SOURCE OF INCOME

PARTICULARS	ANNUAL INCOME
Brokerage Income	0.673
TOTAL ANNUAL INCOME	0.673

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

NETWORTH STATEMENT

MR. MANISHKUMAR BABULAL PATEL

(RS. IN MILLIONS)

LIABILITIES		ASSETS
Secured Loan		Fixed Assets
Car Loan	0.632	Innova Car	1.071
Union Bank of India Home Loan	0.965	Residential Flat	2.000
TOTAL NETWORTH	9.692	Bank Balance with ICICI Bank Limited	0.017
		Cash in Hand	0.018
		Loans and Advances Abaj Electronics Private Limited	8.183
Total	11.289	Total	11.289

SOURCE OF INCOME

PARTICULARS	ANNUAL INCOME
Profit received	0.326
Interest received	0.006
TOTAL ANNUAL INCOME	0.332

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

NETWORTH STATEMENT

MR. BABULAL HARJIBHAI PATEL

(RS. IN MILLIONS)

LIABILITIES		ASSETS
Secured Loan		Fixed Assets
Reliance Home Loan	1.750	Residential Bunglow at 3, Bhaktinandan Park Society	10.000
Reliance Home Loan	0.925	131, Karnavati Bunglow, Nava Naroda	10.000
		Jewelers	0.500
		Vehicles	0.375
TOTAL NETWORTH	18.468	Investments Paid up in LIC Policy	0.244
		Bank Balance with ICICI Bank Limited	0.012
		Cash in Hand	0.012
		Loans and Advances	Nil
Total	21.143	Total	21.143

SOURCE OF INCOME

PARTICULARS	ANNUAL INCOME
Remuneration received	0.210
Interest received	0.213
Profit from Shreeji Bapa Industries	0.204
TOTAL ANNUAL INCOME	0.627

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

VALUATION REPORT

(GENERAL DETAILS)

Purpose for which valuation is made of the property

To ascertain the fair and marketable value.

Date on which valuation is made

24.01.2014

Name of the Owner

Mr. Babubhai Harjibhai Patel

[As per Sale deed]

If the property is under joint ownership /co-ownership, share of each such owner. Are the shares undivided?

Individual Ownership

Brief Description of the Property

Land and Building

Location, Street, Ward no.

Industrial Unit Situated at Plot No. 354, GVMM [Gujarat Vepari Maha Mandal] Estate, Odhav, Ahmedabad

Survey / Plot No. of Land

Survey No. 67, 70, 75 & 123/P,

F.P. No. 15, 16, 17, 35, 40/P,

T.P. No. 3, Mouje Odhav, Taluka City, District Ahmedabad

Is the property situated in residential / commercial / mixed area / industrial area

Industrial Area

Classification of locality high class / middle class / poor class

Middle Class Locality

Proximity to civic amenities like schools, hospitals, offices, market, cinema, etc.

All Civic amenities are available at 1 km radius.

Means and Proximity to surface communication by the locality is served

Local Transport Services, railway and taxi.

LAND

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

Land Area: 1111 Sq. yds

[928.79 Sq. Mts] [As per Sale deed]

Built up Area:

Sr. No.	Particulars	Area in Sq. Mts
1	Main Building – Ground Floor
	RCC Frame Structure	350 Sq. Mts
	AC Sheet Roofing	65 Sq. Mts
	First Floor
	RCC Frame Structure	140 Sq. Mts
	AC Sheet Roofing	125 Sq. Mts
2	Production Shed - 1	153 Sq. Mts
3	Production Shed - 2	125 Sq. Mts

[As per plan]

Roads, Streets or Lane on which the land abutting.

East: Plot No. 353

West: Plot No. 355

North: Estate Road

South: Open Land

Is it freehold or leasehold land?

Freehold Land

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

Not Applicable

(i) Initial premium

Not Applicable

(ii) Ground rent payable per annum

Not Applicable

(iii) Unearned increase payable to the lessor in the event of sale or transfer

Not Applicable

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

No

Are there any agreements of easements If so, attach copies

Not Applicable

Does the land fall in an area included in any Town Planning Scheme or any Development Plan of Government or any statutory body? If so, give particulars

No

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

No

IMPROVEMENTS

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

Annexure 1

It the building owner-occupied/tenanted/both?

Owner Occupied

If partly owner-occupied, specify portion and extent of area under owner-occupation

Fully occupied by Owner

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

As per Concern Authority

RENTS

1) Names of tenants/lessees/licenses etc.

Not Applicable

2) Portions in their occupation

Not Applicable

3) Monthly or annual rent/ compensation/ license fee etc. paid by each

Not Applicable

4) Gross amount received for the whole property

Not Applicable

Are any of the occupants related to or close business associates of the owner

Not Applicable

Is separate amount being recovered for the use of fixtures like fans, geysers, refrigerators, cooking ranges, built in wardrobes etc. or for services charges? If so, give details

Not Applicable

Give details of water and electricity charges, If any to be borne by the owner

Owner has to bear charges

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

Not Applicable

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

Not Applicable

If pump is installed, who has to bear the cost of maintenance and operation - owner or tenant?

Owner has to bear charges

Who has to bear the cost of electricity charges for lightning of common space like entrance hall, stairs, passage, compound etc. owner or tenant?

Owner has to bear charges

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

Owner has to bear charges

Has any standard rent been fixed for the premises under any law relating to the control of rent? Not

Not Applicable

SALES

Land rate adopted in this valuation

Land Rate: Rs. 27500/- Sq. Yd.

Built up Rate:

RCC Frame Structure: Rs. 7000/- Sq. Yd.

AC Sheet Roofing: Rs. 2500/- Sq. Yd.

Sale instances are not relied upon, the basis of arriving at the land rate

From Local Inquiry and Experience.

COST OF CONSTRUCTION

Year of commencement of construction and year of completion

2010

Whether the immovable property in question is in: Profession of tenants or is self - occupied

Owner Occupied

Whether it is vacant plot or building

Land and Building

Whether it is an agricultural, residential or industrial area

Industrial Area

Sanctioned Plan

The layout plan is sanctioned by Jilla Vikas Adhikari, Ahmedabad.

VALUATION

LAND:

Sr. No.	Particulars	Area Sq. Yds.	Rate [Rs. / Sq. Yds.]	Market Value in Rs. in Millions
1	Land Area	1111	Rs. 27500/-	Rs. 30.553 Millions

BUILDING:

Sr. No.	Particulars	Area Sq. Yds.	Rate [Rs. / Sq. Yds.]	Market Value in Rs. in Millions
1	Built up Area Main Building
	Ground Floor RCC Frame Structure	418.60	Rs. 7000/-	Rs. 2.930 Millions
	AC Sheet Roofing	77.14	Rs. 2500/-	Rs. 0.194 Million
2	First Floor RCC Frame Structure	167.44	Rs. 7000/-	Rs. 1.172 Millions
	AC Sheet Roofing	149.5	Rs. 2500/-	Rs. 0.374 Million
3	Production Shed 1	183	Rs. 2500/-	Rs. 0.458 Million
4	Production Shed 2	149.5	Rs. 7000/-	Rs. 1.046 Millions
5	Miscellaneous Development	L.S.	L.S.	Rs. 1.000 Millions
	TOTAL			Rs. 7.174 Millions

VALUATION SUMMARY

Land Value	Rs. 30.553 Millions
Building Value	Rs. 7.174 Millions
Total Market Value	Rs. 37.727 Millions

REALIZABLE VALUE:

Realizable Value

Rs. 37.727 Millions – 10%

Rs. 33.954 Millions

DISTRESS VALUE:

Distress Value

Rs. 37.727 Millions – 20%

Rs. 30.182 Millions

JANTRY VALUE:

Sr. No.	Particulars	Area Sq. Mts.	Rate [Rs. / Sq. Mts.]	Market Value in Rs. in Millions
1	Land Area	928.79	Rs. 5325/-	Rs. 4.946 Millions
2	Ground Floor RCC Frame Structure	350	Rs. 10810/-	Rs. 3.784 Millions
	AC Sheet Roofing	65	Rs. 7990/-	Rs. 0.519 Million
	First Floor RCC Frame Structure	140	Rs. 10810/-	Rs. 1.513 Millions
	AC Sheet Roofing	125	Rs. 7990/-	Rs. 0.999 Million
	Production Shed 1	153	Rs. 7990/-	Rs. 1.223 Millions
	Production Shed 2	125	Rs. 10810/-	Rs. 1.351 Millions
	TOTAL			Rs. 14.335 Millions

TECHNICAL DETAILS

ANNEXURE 1

No of floors and its height of each floor

(a) Basement

(b) Ground floor and first floor

(c) Second floor and third floor

Industrial Unit

Plinth area floor-wise

(a) Basement

(b) Ground floor and first floor

(c) Second floor and third floor

Land Area: 1111 Sq. yds.

[As per Sales deed]

Sr. No.	Particulars	Area in Sq. Mts
1	Main Building – Ground Floor
	RCC Frame Structure	350 Sq. Mts
	AC Sheet Roofing	65 Sq. Mts
	First Floor
	RCC Frame Structure	140 Sq. Mts
	AC Sheet Roofing	125 Sq. Mts
2	Production Shed - 1	153 Sq. Mts
3	Production Shed - 2	125 Sq. Mts

Year of construction

2010

Estimated future life

62 Years

Type of construction----load bearing walls/RCC frame/steel frame

Load bearing structure

Type of foundations

Load bearing structure

Walls

(a) Basement and plinth

(b) Ground floor

(c) Superstructure above ground floor

Brick Masonry Wall

Partitions

Brick Masonry Wall

Doors and windows [Floor wise]

(a) Basement

(b) Ground floor and first floor

(c) Second floor and third floor

M.S. doors and Aluminum section with glass panel windows.

Flooring [Floor wise]

(a) Basement

(b) Ground floor and first floor

(c) Second floor and third floor

Kota stone, ceramic tiles and IPS Flooring

Finishing [Floor wise]

(a) Basement

(b) Ground floor and first floor

(c) Second floor and third floor

Inside smooth plaster and outside sand face plaster

Roofing and terracing

RCC slab as roofing

Special architectural or decorative features, if any

Good Building

(i) Internal wiring---surface or conduit

(ii) Class of fittings: superior/ ordinary /poor

Open pipe wiring and concealed wiring

Sanitary installations:

(a)

(i) No. of water closets

(ii) No. of lavatory basins

(iii) No. of urinals

(iv) No. of sinks

(v) No. of bath tub

(vi) No. of bidets

(vii) No. of geysers

Installed

Compound walls :

(i) Height and length

(ii) Type of construction

Available

No. of lifts and capacity

Not Applicable

Underground sumps capacity and type of construction

Available

Overhead tank:

(i) Where located

(ii) Capacity

(iii) Type of construction

Available

Pumps: No. and their horse power

Available

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

Internal Road

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

Connected to AMC

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

VALUATION REPORT

(GENERAL DETAILS)

Purpose for which valuation is made of the property

To ascertain the fair market value.

Date on which valuation is made

24.01.2014

Name of the Owner

Mrs. Champaben Shantilal Patel

[As per Sale deed]

If the property is under joint ownership /co-ownership, share of each such owner. Are the shares undivided?

Individual Ownership

Brief Description of the Property

This is Residential Bungalow

Location, Street, Ward no.

Residential Bungalow No. B/30 “Simandhar Bungalows” Situated B/h. Pratik Mall, Situated Near City Pluse Cinema, Koba – Gandhinagar Highway, Kudasan, Gandhinagar

Survey / Plot No. of Land

Block No. 228/B and 250/P, Old Survey No. 135/2, 137, 142, 143/2, Mouje: Kudasan, Ta. and District Gandhinagar

Classification of locality high class / middle class / poor class

Middle Class Locality

Proximity to civic amenities like schools, hospitals, offices, market, cinema, etc.

All Civic amenities are available at 1 kms.

Means and Proximity to surface communication by the locality is served

Local Transport Services, railway and taxi.

LAND

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

Land Area: 244.70 Sq. Mts.

[292.66 Sq. Mts.] [As per Sale deed]

Built up Area: 236.39 Sq. yds.

[197.65 Sq. Mts.] [As per plan]

Roads, Streets or Lane on which the land abutting.

East: Sub Plot No. B/31

West: Sub Plot No. B/29

North: Sub Plot No. B/27

South: Society Road

Is it freehold or leasehold land?

Freehold Land

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

No

Does the land fall in an area included in any Town Planning Scheme or any Development Plan of Government or any statutory body? If so, give particulars

No

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

No

IMPROVEMENTS

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

Annexure 1

It the building owner-occupied/tenanted/both?

Owner Occupied

If partly owner-occupied, specify portion and extent of area under owner-occupation

Fully occupied by Owner

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

As per Concern Authority

RENTS

Names of tenants/lessees/licenses etc.

Not Applicable

Portions in their occupation

Not Applicable

Monthly or annual rent/ compensation/ license fee etc. paid by each

Not Applicable

Gross amount received for the whole property

Not Applicable

Are any of the occupants related to or close business associates of the owner

Not Applicable

Is separate amount being recovered for the use of fixtures like fans, geysers, refrigerators, cooking ranges, built in wardrobes etc. or for services charges? If so, give details

Not Applicable

Give details of water and electricity charges, If any to be borne by the owner

Owner has to bear charges

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

Owner has to bear charges

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

Owner has to bear charges

If pump is installed, who has to bear the cost of maintenance and operation - owner or tenant?

Available, Owner has to bear charges

Who has to bear the cost of electricity charges for lightning of common space like entrance hall, stairs, passage, compound etc. owner or tenant?

Owner has to bear charges

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

Owner has to bear charges

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

No

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

Not Applicable

SALES

Land rate adopted in this valuation

Land Rate: Rs. 40000/- Sq. Mts.

Built up Rate: Rs. 15000/- Sq. Yd.

Sale instances are not relied upon, the basis of arriving at the land rate

From Local Inquiry and Experience.

COST OF CONSTRUCTION

Year of commencement of construction and year of completion

2012

Whether the immovable property in question is in: Profession of tenants or is self - occupied

Owner Occupied

Whether it is vacant plot or building

Land and Building

Whether it is an agricultural, residential or industrial area

Residential Area

Sanctioned Plan No.

PRM/GUDA/66/2/20003/1273/03

Dated: 11.06.2009

The said construction of building is as per approved plan.

VALUATION

LAND:

Sr. No.	Particulars	Area Sq. Yds.	Rate [Rs. / Sq. Yds.]	Market Value in Rs. in Millions
1	Land Area	244.70	Rs. 40000/-	Rs. 9.788 Millions

BUILDING:

Sr. No.	Particulars	Area Sq. Yds.	Rate [Rs. / Sq. Yds.]	Market Value in Rs. in Millions
1	Built up Area [G.F + F.F]	236.39	Rs. 15000/-	Rs. 3.546 Millions
2	Furniture and Fixture	L.S.	L.S.	Rs. 1.000 Million
	TOTAL			Rs. 4.546 Millions

VALUATION SUMMARY

Land Value	Rs. 9.788 Millions
Building Value	Rs. 4.546 Millions
Total Market Value	Rs. 14.334 Millions

REALIZABLE VALUE:

Realizable Value

Rs. 14.334 Millions – 10%

Rs. 12.901 Millions

DISTRESS VALUE:

Distress Value

Rs. 14.334 Millions – 20%

Rs. 11.467 Millions

JANTRY VALUE:

Sr. No.	Particulars	Area Sq. Mts.	Rate [Rs. / Sq. Mts.]	Market Value in Rs. in Millions
1	Land Area	244.70	Rs. 8500/-	Rs. 2.080 Millions
2	Built up Area	197.65	Rs. 8342/-	Rs. 1.649 Millions
	TOTAL			Rs. 3.729 Millions

TECHNICAL DETAILS

ANNEXURE 1

No of floors and its height of each floor

(a) Basement

(b) Ground floor and first floor

(c) Second floor and third floor

(d) Forth floor and Five floor

Ground Floor + First Floor

Bungalows No. B/30

Plinth area floor-wise

(a) Basement

(b) Ground floor and first floor

(c) Second floor and third floor

Land Area: 244.70 Sq. Mts.

Built up Area: 236.39 Sq. Yds.

Year of construction

2012

Estimated future life

64 Years

Type of construction-load bearing walls/RCC frame/steel frame

Load bearing structure

Type of foundations

RCC Column foundation.

Walls

(a) Basement and plinth

(b) Ground floor

(c) Superstructure above ground floor

Brick Masonry Wall

Partitions

Brick Masonry Wall

Doors and windows [Floor wise]

(a) Basement

(b) Ground floor and first floor

(c) Second floor and third floor

(d) Forth floor and Five floor

Wooden frame with wooden doors and wooden frame with glass panel windows.

Flooring [Floor wise]

(a) Basement

(b) Ground floor and first floor

(c) Second floor and third floor

(d) Forth floor and Five floor

Vitrified tiles as flooring

Finishing [Floor wise]

(a) Basement

(b) Ground floor and first floor

(c) Second floor and third floor

(d) Forth floor and Five floor

Inside finish plaster and outside sand faced plaster

Roofing and terracing

RCC slab as roofing

Special architectural or decorative features, if any

Good elevation

(i) Internal wiring---surface or conduit

(ii) Class of fittings: superior/ ordinary /poor

Concealed wiring

Sanitary installations:

(a)

(i) No. of water closets

(ii) No. of lavatory basins

(iii) No. of urinals

(iv) No. of sinks

(v) No. of bath tub

(vi) No. of bidets

(vii) No. of geysers

Installed

Compound walls :

(i) Height and length

(ii) Type of construction

Available

No. of lifts and capacity

Not Applicable

Underground sumps capacity and type of construction

Available

Overhead tank:

(i) Where located

(ii) Capacity

(iii) Type of construction

Available

Pumps: No. and their horse power

Available

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

Internal Road

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

Connected to GUDA

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VALUATION REPORT

(GENERAL DETAILS)

Purpose for which valuation is made of the property

To ascertain the fair and marketable value.

Date on which valuation is made

24.01.2014

Name of the Owner

Mr. Babubhai Harjibhai Patel

[As per Sale deed]

If the property is under joint ownership /co-ownership, share of each such owner. Are the shares undivided?

Individual Ownership

Brief Description of the Property

This is Residential Bungalows

Location, Street, Ward no.

Residential Bungalow No. A/131, “Karnavati Bungalow” Situated in Parixit Vihar Cooperative Housing Society Limited, Vibhag 2, Opposite Haridarshan Bungalow, Near Haridarshan Cross Road, Kathwada Road, New Naroda, Ahmedabad

Survey / Plot No. of Land

Survey No. 364, 365, Sub Plot No. 2,

F.P. No. 62, T.P.S. No. 101, Mouje: Nikol, Ta. City, District Ahmedabad

Is the property situated in residential / commercial / mixed area / industrial area

Residential Area

Classification of locality high class / middle class / poor class

Middle Class Locality

Proximity to civic amenities like schools, hospitals, offices, market, cinema, etc.

All Civic amenities are available at 1 kms.

Means and Proximity to surface communication by the locality is served

AMC Transport Services, Railway and Taxi.

LAND

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

Land Area: 108.69 Sq. Mts.

[130 Sq. Yds.] [As per Sale deed]

Built up Area: 175 Sq. Yds.

[146.32 Sq. Mts. [As per Construction Agreement]

Roads, Streets or Lane on which the land abutting.

East: Society Road

West: Bungalow No. 122

North: Bungalow No. 132

South: Bungalow No. 130

Is it freehold or leasehold land?

Freehold Land

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

No

Does the land fall in an area included in any Town Planning Scheme or any Development Plan of Government or any statutory body? If so, give particulars

Yes, T.P. No. 101, Mouje: Nikol, Ta. City, District Ahmedabad

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

No

IMPROVEMENTS

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

Annexure 1

It the building owner-occupied/tenanted/both?

Owner Occupied

If partly owner-occupied, specify portion and extent of area under owner-occupation

Fully occupied by Owner

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

As per Concern Authority

RENTS

Names of tenants/lessees/licenses etc.

Not Applicable

Portions in their occupation

Not Applicable

Monthly or annual rent/ compensation/ license fee etc. paid by each

Not Applicable

Gross amount received for the whole property

Not Applicable

Are any of the occupants related to or close business associates of the owner

Not Applicable

Is separate amount being recovered for the use of fixtures like fans, geysers, refrigerators, cooking ranges, built in wardrobes etc. or for services charges? If so, give details

Not Applicable

Give details of water and electricity charges, If any to be borne by the owner

Owner has to bear charges

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

Owner has to bear charges

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

Owner has to bear charges

If pump is installed, who has to bear the cost of maintenance and operation - owner or tenant?

Available, Owner has to bear charges

Who has to bear the cost of electricity charges for lightning of common space like entrance hall, stairs, passage, compound etc. owner or tenant?

Owner has to bear charges

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

Owner has to bear charges

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

No

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

Not Applicable

SALES

Land rate adopted in this valuation

Land Rate: Rs. 42500/- Sq. Mts.

Built up Rate: Rs. 14000/- Sq. Yds.

Sale instances are not relied upon, the basis of arriving at the land rate

From Local Inquiry and Experience.

COST OF CONSTRUCTION

Year of commencement of construction and year of completion

2006-2007

Whether the immovable property in question is in: Profession of tenants or is self - occupied

Owner Occupied

Whether it is vacant plot or building

Land and Building

Whether it is an agricultural, residential or industrial area

Residential Area

Sanctioned Plan No.

Revise Vide Case No. PRM/17/6/2005

Rajaciitthi No. 010216

Date: 14.07.2005

The said construction of building is as per approved plan.

VALUATION

LAND:

Sr. No.	Particulars	Area Sq. Yds.	Rate [Rs. / Sq. Yds.]	Market Value in Rs. in Millions
1	Land Area	108.69	Rs. 42500/-	Rs. 4.619 Millions

BUILDING:

Sr. No.	Particulars	Area Sq. Yds.	Rate [Rs. / Sq. Yds.]	Market Value in Rs. in Millions
1	Built up Area	175	Rs. 14000/-	Rs. 2.450 Millions
2	Furniture and Fixture	L.S.	L.S.	Rs. 1.000 Million
	TOTAL			Rs. 3.450 Millions

VALUATION SUMMARY

Land Value	Rs. 4.619 Millions
Building Value	Rs. 3.450 Millions
Total Market Value	Rs. 8.069 Millions

REALIZABLE VALUE:

Realizable Value

Rs. 8.069 Millions – 10%

Rs. 7.262 Millions

DISTRESS VALUE:

Distress Value

Rs. 8.069 Millions – 20%

Rs. 6.455 Millions

JANTRY VALUE:

Sr. No.	Particulars	Area Sq. Mts.	Rate [Rs. / Sq. Mts.]	Market Value in Rs. in Millions
1	Land Area	108.69	Rs. 4150/-	Rs. 0.451 Million
2	Built up Area	146.32	Rs. 7568/-	Rs. 1.107 Millions
	TOTAL			Rs. 1.558 Millions

TECHNICAL DETAILS

ANNEXURE 1

No of floors and its height of each floor

(a) Basement

(b) Ground floor and first floor

(c) Second floor and third floor

Ground Floor + First Floor

Bungalows No. A/131

Plinth area floor-wise

(a) Basement

(b) Ground floor and first floor

(c) Second floor and third floor

Land Area: 108.69 Sq. Mts.

Built up Area: 175 Sq. Yds.

Year of construction

2006-2007

Estimated future life

58 Years

Type of construction----load bearing walls/RCC frame/steel frame

Load bearing structure

Type of foundations

RCC Column foundations

Walls

(a) Basement and plinth

(b) Ground floor

(c) Superstructure above ground floor

Brick Masonry Wall

Partitions

Brick Masonry Wall

Doors and windows [Floor wise]

(a) Basement

(b) Ground floor and first floor

(c) Second floor and third floor

Wooden frame with wooden doors and Aluminum Section with Glass Panel Windows

Flooring [Floor wise]

(a) Basement

(b) Ground floor and first floor

(c) Second floor and third floor

Marble tiles as flooring in drawing room and Marble and Carpet tiles as flooring in Bedroom.

Finishing [Floor wise]

(a) Basement

(b) Ground floor and first floor

(c) Second floor and third floor

Inside finish plaster and outside sand faced plaster

Roofing and terracing

RCC slab as roofing

Special architectural or decorative features, if any

Good elevation

(i) Internal wiring---surface or conduit

(ii) Class of fittings: superior/ ordinary /poor

Concealed wiring

Sanitary installations:

(a)

(i) No. of water closets

(ii) No. of lavatory basins

(iii) No. of urinals

(iv) No. of sinks

(v) No. of bath tub

(vi) No. of bidets

(vii) No. of geysers

Installed

Compound walls :

(i) Height and length

(ii) Type of construction

Available

No. of lifts and capacity

Not Applicable

Underground sumps capacity and type of construction

Available

Overhead tank:

(i) Where located

(ii) Capacity

(iii) Type of construction

Available

Pumps: No. and their horse power

Available

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

Internal Road

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

Connected to AUDA

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INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10372565	03/08/2012	15,000,000.00	THE SOUTH INDIAN BANK LIMITED	GROUND FLOOR, SAKAR VII, NEHRU BRIDGE CORNER, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA	B56390578

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CHANGE OF ADDRESS:

The Registered Office of the company has been shifted from 206-208, Devnandan Mall, Opposite Sanyas Ashram, Ashram Road, Ellisbridge, Ahmedabad – 380006, Gujarat, India to the present address w.e.f.14.11.2011.

DISTRIBUTORS LIST:

GUJARAT

· Divine Distributors

Om Electronics

Kutch Radio

Winner Electronics

Nishi Services

Hitachi Electronics

MADHYA PRADESH

· Balaji Distributors

Bhagwati Sales

Bhagwati Traders

Grand Electronics

Honey India Enterprises

Mahavir Agency

Malwa Trading Company

Manglam Corporation

V. S. Enterprise

CHHATTISGARH

· Krishna Sales

RAJASTHAN

· Bunty Collection

Chepp Radio Services

Electronics Planet

Ganpati Electronics

Krishna Enterprise

LG Point and Electronics

Muskan Marketing

N.S. Comforts

P.S. Enterprise

Rajasthan Electrical Distributor

Real Solutions

Shivam Electronics

Shivohum Electronics

Shree Balaji

Swastika and Company

Unique Electronics

Varity Store

FIXED ASSETS:

· Building

Plant and Machinery

Electrifications

Furniture and Fixture

Office Equipments

Other Equipments

Computer

Vehicles

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

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. 60.47
UK Pound	1	Rs. 100.43
Euro	1	Rs. 79.40

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	SUM
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
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.