MIRA INFORM REPORT

Report Date :

26.09.2014

IDENTIFICATION DETAILS

Name :	HINA TRADING AND MANUFACTURING COMPANY PRIVATE LIMITED
Registered Office :	146, Krishna Bhuvan, 2nd Floor, Office No. 20, Dr. Vegas Street, Kalbadevi Road, Mumbai – 400002, Maharashtra
Country :	India
Financials (as on) :	31.03.2014 [Provisional]
Date of Incorporation :	25.10.1994
Com. Reg. No.:	11-082372
Capital Investment / Paid-up Capital :	Rs. 20.000 Millions
CIN No.: [Company Identification No.]	U17110MH1994PTC082372
TAN No.: [Tax Deduction & Collection Account No.]	MUMH14240C
PAN No.: [Permanent Account No.]	AAACH1253P
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Fabrics and Yarn.
No. of Employees :	5 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate scale of business operations and low reserves of the company. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution. NOTE: As claimed Mr. Mahesh Bhanage, Accounts Manager that company had stopped down its business operation from March 2007 to March 2011. Further he also claimed that company has earned income from indirect source (i.e. dividend income) from 2007 to 2011 and it has restarted its business operation from April 2011.

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

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. Mahesh Bhanage
Designation :	Accounts Manager
Contact No.:	91-22-22088786
Date :	24.09.2014

LOCATIONS

Registered Office :	146, Krishna Bhuvan, 2nd Floor, Office No. 20, Dr. Vegas Street, Kalbadevi Road, Mumbai – 400002, Maharashtra, India
Tel. No.:	91-22-22088786
Fax No.:	91-22-22088786
E-Mail :	rameshashar1957@gmail.com
Area :	250 Sq. ft.
Location :	Owned

DIRECTORS

AS ON 29.09.2013

Name :

Mr. Ramesh Haridas Ashar

Designation :

Director

Address :

67, Gokul Building, 2^nd Floor, Sion [East], T.V.C. Marg, Mumbai – 400022, Maharashtra, India

Date of Birth/Age :

20.02.1957

Date of Appointment :

01.01.2001

PAN No.:

ACDPA9014B

DIN No.:

00553088

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	U17100MH1988PTC046707	RAMUKA TEXTILE INDUSTRIES PRIVATE LIMITED	Director	01/09/2000	01/09/2000	-	Active	NO
2	U17110MH1994PTC082372	HINA TRADING AND MANUFACTURING COMPANY PRIVATE LIMITED	Director	01/01/2001	01/01/2001	-	Active	NO
3	U17120MH1993PLC073419	PLATINUM TEXTILES LIMITED	Director	01/09/2005	01/09/2005	02/03/2012	Active	NO
4	U17111TN1962PLC004690	SREE NITHYAKALYANI TEXTILES LIMITED	Director	02/05/2006	02/05/2006	-	Active	YES
5	U45400MH2008PLC179294	RED MAPLE MERCANTILE LIMITED	Director	30/12/2008	30/12/2008	02/03/2011	Active	NO
6	U15321GJ2007PTC049969	K. U. YARN PRIVATE LIMITED	Director	30/09/2010	01/08/2010	10/09/2012	Active	NO
7	U17111TZ2008PTC014199	ASWINIKRISHNAA TEXTILE PRIVATE LIMITED	Director	23/11/2010	12/08/2010	01/03/2012	Active	NO
8	U17115TZ1989PTC002509	THE OOTY MILLS PRIVATE LIMITED	Director	12/08/2010	12/08/2010	01/03/2012	Active	NO
9	U17111TZ2005PTC012040	VISHNUVELAN TEXTILES PRIVATE LIMITED	Director	15/01/2011	15/01/2011	-	Active	NO

Name :

Mr. Shrawankumar Devishankar Bajpeyee

Designation :

Additional director

Address :

1/35, Ganpathypalayam Post, Udumalpet, Coimbatore – 642126, Tamilnadu, India

Date of Birth/Age :

30.12.1963

Date of Appointment :

12.03.2012

PAN No.:

ABPPB3703R

DIN No.:

05152870

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U17111TZ2005PTC012040	VISHNUVELAN TEXTILES PRIVATE LIMITED	Additional director	09/03/2012	09/03/2012	Active	NO
2	U17110MH1994PTC082372	HINA TRADING AND MANUFACTURING COMPANY PRIVATE LIMITED	Additional director	12/03/2012	12/03/2012	Active	NO
3	U17100MH1988PTC046707	RAMUKA TEXTILE INDUSTRIES PRIVATE LIMITED	Additional director	12/03/2012	12/03/2012	Active	NO

KEY EXECUTIVES

Name :	Mr. Mahesh Bhanage
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Ramesh Haridas Ashar	715000	35.75
Smita Ramesh Ashar	853500	42.68
Neha Ramesh Ashar	431500	21.58
Total	2000000	100.00

AS ON 29.09.2013

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

BUSINESS DETAILS

Line of Business :	Trader of Fabrics and Yarn.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :	ETCO Denim Private Limited, Karnataka
Customers :	Wholesalers and Retailers · K U Yarn Private Limited, Madhya Pradesh
No. of Employees :	5 (Approximately)
Bankers :	· Union Bank of India Kalbadevi Branch, A. M. Vidhya Foundation Building, 32, Dadi Seth Agiary Lane, Kalbadevi Road, Mumbai - 400002, Maharashtra, India

Banking Relations :	--
Auditors :
Name :	A C Jhaveri and Company Chartered Accountants
Address :	283, 1st Floor, Office No.10, Devkaran Niwas, Samuel Street, Masjid (West), Mumbai – 400003, Maharashtra, India
Tel. No.:	91-22-23449759/ 23411560
Income-tax PAN of auditor or auditor's firm :	AAAPJ9651J
Related Parties : [As on 31.03.2013]	· Sree Vishnuvelan Spinning Mills Private Limited Ramuka Textile Industries Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2014 [PROVISIONAL]

Authorised Capital :

No. of Shares	Type	Value	Amount
2,000,000	Equity Shares	Rs. 10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,000,000	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 [Provisional]	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	20.000	20.000	20.000
(b) Reserves & Surplus	7.907	6.646	6.570
(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)	27.907	26.646	26.570
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	21.561	55.554	7.150
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	21.561	55.554	7.150
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.350
(b) Trade payables	0.000	132.567	9.757
(c) Other current liabilities	1.929	0.506	0.106
(d) Short-term provisions	1.884	2.098	0.010
Total Current Liabilities (4)	3.813	135.171	10.223
TOTAL	53.281	217.371	43.943
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000	0.000
(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	30.424	41.474	8.102
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	101.029	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	30.424	142.503	8.102
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	7.665	32.464	16.698
(c) Trade receivables	12.126	41.965	19.543
(d) Cash and cash equivalents	0.120	0.439	(0.492)
(e) Short-term loans and advances	2.946	0.000	0.000
(f) Other current assets	0.000	0.000	0.092
Total Current Assets	22.857	74.868	35.841
TOTAL	53.281	217.371	43.943

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014 [Provisional]	31.03.2013	31.03.2012
	SALES
		Revenue from Operations	493.656	211.208	13.419
		Other Income	0.000	0.117	0.001
		TOTAL (A)	493.656	211.325	13.420
Less	EXPENSES
		Cost of Materials Consumed	466.224	223.710	29.554
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	24.798	(15.765)	(16.698)
		Employees benefits expense	0.444	0.444	0.240
		Other expenses	0.363	2.198	0.189
		TOTAL (B)	491.829	210.587	13.285
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.827	0.738	0.135
Less	FINANCIAL EXPENSES (D)		0.002	0.035	0.007
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1.825	0.703	0.128
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.000	0.000	0.000
	PROFIT BEFORE TAX (E-F) (G)		1.825	0.703	0.128
Less	TAX (H)		0.564	0.253	0.000
	PROFIT AFTER TAX (G-H) (I)		1.261	0.450	0.128
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.578	0.128	0.000
	BALANCE CARRIED TO THE B/S		1.839	0.578	0.128
	Earnings Per Share (Rs.)		0.63	0.22	0.06

KEY RATIOS

PARTICULARS		31.03.2014 [Provisional]	31.03.2013	31.03.2012
PAT / Total Income	(%)	0.26	0.21	0.95
Net Profit Margin (PBT/Sales)	(%)	0.37	0.33	0.95
Return on Total Assets (PBT/Total Assets}	(%)	7.98	0.40	0.36
Return on Investment (ROI) (PBT/Networth)		0.07	0.03	0.00
Debt Equity Ratio (Total Debt/Networth)		0.00	0.00	0.01
Current Ratio (Current Asset/Current Liability)		5.99	0.55	3.51

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	20.000	20.000	20.000
Reserves & Surplus	6.570	6.646	7.907
Net worth	26.570	26.646	27.907
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	0.350	0.000	0.000
Total borrowings	0.350	0.000	0.000
Debt/Equity ratio	0.013	0.000	0.000

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	13.419	211.208	493.656
		1,473.947	133.730

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	13.419	211.208	493.656
Profit	0.128	0.450	1.261
	0.95%	0.21%	0.26%

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	Yes
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	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	No
25]	Conduct of the banking account	--
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

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(M/S. HINA TRADING AND MANUFACTURING COMPANY PRIVATE LIMITED)

COMPUTATION OF TOTAL INCOME

(RS. IN MILLIONS)

PARTICULARS	31.03.2013
INCOME FROM PROFIT/ GAINS OF BUSINESS/ PROFESSION
Income from Business/ Profession
Hina Trading and Manufacturing Company Private Limited
Net Profit / [Loss]	0.703
Add: Disallowable and / Items considered separately
Prior Period Items	0.043
Less: Items treated separately
Dividend	0.001	0.745
		_______
			0.745
			_______
Gross Total Income			0.745
Total Income			0.745
Tax on Total Income		0.224
Tax @ 18.5% on Book Profit		0.130
Tax before Rebate [Higher of above]			0.224
Tax Payable			0.224
Education Cess @ 3%			0.006
			_______
TAX PAYABLE + EDUCATION CESS			0.230
Add: Interest
u/s 234 B Rs. 0.230 Million x 6		0.014
u/s 234 C[I] Rs. 0.035 Million x 3 x 1%	0.001
u/s 234 C[II] Rs. 0.104 Million x 3 x 1%	0.003
u/s 234 C[III] Rs. 0.173 Million x 3 x 1%	0.005
u/s 234 C[IV] Rs. 0.230 Million x 1 x 1%	0.003	0.012	0.026
		_______	________
			0.256
Less: Self-Assessment Tax
28.09.2013, Paid into: [0290179], Sr. No. 23459		0.256
			(0.256)
			________
NET TAX + INTEREST PAYABLE			Nil

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(M/S. HINA TRADING AND MANUFACTURING COMPANY PRIVATE LIMITED)

BALANCE SHEET

(RS. IN MILLIONS)

PARTICULARS	31.03.2015	31.03.2016	31.03.2017
Capital	20.000	20.000	20.000
Reserves and Surplus	10.982	14.762	19.388
Secured Loan	25.000	30.000	35.000
Unsecured Loan	21.561	21.561	21.561
Current Liabilities
Sundry Creditors	11.527	17.290	20.748
Bank Overdraft	--	--	--
Other Current Liabilities	3.300	4.125	5.156
Provisions for Tax	1.538	1.890	2.313
Total	93.908	109.628	124.166
Non-Current Investments	30.424	30.424	30.424
Long term Loans and Advances	--	--	--
Current Assets
Sundry Debtors	30.000	37.500	45.000
Closing Stock	29.700	37.050	44.460
Cash and Bank Balances	0.534	0.550	0.600
Advances	3.250	4.104	3.682
Total	93.908	109.628	124.166

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(M/S. HINA TRADING AND MANUFACTURING COMPANY PRIVATE LIMITED)

PROFIT AND LOSS ACCOUNT

(RS. IN MILLIONS)

PARTICULARS	31.03.2015	31.03.2016	31.03.2017
Sales	600.000	900.000	1080.000
Total	600.000	900.000	1080.000
Raw Material	592.800	889.200	1067.040
Administrative Expenses	0.900	1.080	1.296
Financial Expenses	1.688	4.050	4.725
Total	595.388	894.330	1073.061
Net Profit	4.612	5.670	6.939
Provision for Tax	1.537	1.890	2.313
Profit After Tax	3.074	3.780	4.626

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(MR. RAMESH H. ASHAR)

BALANCE SHEET

(RS. IN MILLIONS)

SOURCES OF FUNDS		31.03.2014
SHAREHOLDERS FUNDS
1] Capital Account		27.233
2] Share Application Money		0.000
3] Profit and Loss A/c.		0.000
4] (Accumulated Losses)		0.000
NETWORTH		27.233
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		38.030
TOTAL BORROWING		38.030
DEFERRED TAX LIABILITIES		0.000
TOTAL		65.263
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.000
INVESTMENT		36.046
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.133
	Other Current Assets	0.837
	Loans & Advances	28.247
Total Current Assets		29.217
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.000
Net Current Assets		29.217
MISCELLANEOUS EXPENSES		0.000
TOTAL		65.263

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(M/S. RAMUKA TEXTILE INDUSTRIES PRIVATE LIMITED)

NETWORTH STATEMENT

(RS. IN MILLIONS)

PARTICULARS	31.03.2014
Immovable Property
Land and Building at Silvasa [Market Value]		26.000
Movable Property
Shares of Limited Companies [Face Value]		106.600
Loans to Private Parties		50.513
Cash in Hand		0.084
Balance with Bank		0.010
		_________
		183.207
Less:
Loans from Private Parties	156.600
	0.043	156.643
Miscellaneous Liabilities		_________
NETWORTH		26.564

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(M/S. RAMUKA TEXTILE INDUSTRIES PRIVATE LIMITED)

VALUATION REPORT

(GENERAL DETAILS)

PART I

Purpose for which valuation is made

To know the Fair Market Value.

Date as on which valuation is made

29.08.2014

Name of the Owner/ Owners

M/s. Ramuka Textile Industries Private Limited

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

It is Private Limited Company

Brief description of the property

This is a RCC Factory Building [G.F. + F.F. with Mezzanine Floor], Plot No. 54-B, On Vapi-Silvassa Road, in “Piparia Industrial Estate” At Amli [Silvassa], U.T. of Dadra and Nagar Haveli.

Location, Street, Ward No.

On Vapi-Silvassa Road, in “Piparia Industrial Estate” At Amli [Silvassa], U.T. of Dadra and Nagar Haveli.

Survey/Plot No. of Land

On R. Sr. No. 66/1 and Plot No. 54-B, in “Piparia Industrial Estate” At Amli [Silvassa], U.T. of Dadra and Nagar Haveli.

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

In Industrial Area

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

High Class Locality

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

Within normal reach

Means and Proximity to surface communication by which the locality is served

By S.T. Bus, Car, Auto Rickshaws and all types of Private Vehicles.

LAND

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

Area of Land supported by documentary proof available is @ 800.00 Sq. Mts.

Roads, Streets or Lanes on which the land is abutting

On Vapi-Silvassa Road

Is it freehold or leasehold land

Freehold land

If leasehold, the name of lessor/ lessee, nature of lease, date of commencement and termination of lease and terms of renewal of lease

1. Initial Premium

2. Ground Rent payable per annum

3. 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 the land? If so a copy of the Convenant

It must be used for Industrial purpose only.

Are there any agreements of easements? If so attach copy

No

Does the land fall in an area included in any town planning scheme or any statutory body? If so, give particulars

It falls under “Piparia Industrial Estate”, within Municipal Limit of Silvassa at Amli [Silvassa], U.T. of Dadra and Nagar Haveli.

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

No

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

No

IMPROVEMENT

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

As per Technical Details

Is the Building owner – Occupied / tenanted / both?

Owners occupied only

What is the floor space index permissible and percentage actually utilized?

F.S.I. Permissible = 1.00

Names of tenants/ Lessees/ Licensees etc.

Not Applicable

Area 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 service charges? If so, give details

Not Applicable

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

Borne by the owner

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 tenants?

Not Applicable

Is a pump is installed, who has to bear the cost of maintenance and operation, owner or tenants?

By the owners only.

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

By the owners only.

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

Not known

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

No

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

Not Applicable

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

Not Applicable

SALES

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

Here I have found out present value of Built-up area and deducted depreciation etc. and added value of land on the said location at present Market rates privilege on the location in the open Market today. Adding Actual Value of Built-up areas [G.F. + F.F. + Mezzanine floors etc.] with present value of the land total fair market value has been assessed.

Land rate adopted in this valuation

Land rate adopted in this valuation is Rs. 11500/- per Sq. Mt. of land

If sale instances are not relied upon, the basis of arriving at the land rate….

By local people inquiries, By a well-known land Broker effectively working in this area and by my own Market Survey.

COST OF CONSTRUCTION

Year of construction and year of completion

Ground floor was constructed in the year 1988 i.e. 26 years ago and First floor was constructed in the year 1998 i.e. 16 years ago.

What was the method of construction by contract by employing labour directly/ both?

Not known

For items of work done on contract, produce copies of agreements.

Party has to produce, if any.

For items of works done by engaging labour directly give rates of material and labour supported by documentary proof.

Party has to produce, if any

PART II

PART (I): VALUE OF BUILT-UP AREA G.F. + F.F., AND MEZZANINE FLOORS AND MISCELLANEOUS SERVICES:

[A] VALUE OF BUILT-UP AREA [G.F. + F.F., AND MEZZANINE FLOORS ETC.]

The said RCC factory building having G.F. + F.F., and Mezzanine Floors has been constructed on G.F. + F.F. both. It has RCC framed structure with 9” thick B.B. Masonry walls. Inside Neeru finished cement plaster with white washed. Outside double coat sand faced cement plaster with cement paint wash. M.S. Rolling shutter and flush door with beadings. M.S. Sectional Windows and Venti. Provided with M.S. Grills, polished Kotah Stone flooring provided. G.F. was constructed in 1988 i.e. @ 26 years ago. F.F. was constructed in 1998 i.e. @ 16 years ago. Built-up area of G.F., F.F. and Mezzanine Floors is as shown below:

Ground Floor
Built-up Area	395.04 m2
Mezzanine Floor Area	254.87 m2
First Floor
Built-up Area	395.04 m2
Mezzanine Floor Area	157.80 m2
Total	1202.75 m2 i.e. @ 12946.40 Sq. ft.

Present Value of Built-up Area at present Market rates of Materials and Labour etc. privilege in the open Market today.	=	Total Built-up area of G.F. + F.F. and Mezzanine Floors in Sq. ft.	x	Average Cost of Construction per One Sq. ft. for such type of Structure today.
	=	12946.40	x	1300/-
	=	Rs. 16.830 Millions [A]

[B] PRESENT VALUE OF MISCELLANEOUS SERVICES:

SR. NO.	PARTICULARS	COST IN RS. IN MILLIONS
1.	Cost for Water Supply Arrangement	0.200
2.	Cost of Drainage Arrangement	0.200
3.	Electrical Installments, Cabling, Fixtures and Fittings etc.	1.500
4.	Pavement Earth/ Hard Murrum fitting etc.	0.100
	Total	2.000 [B]

Total Value of Built-up Areas and Other Miscellaneous Services	[A] + [B]
	Rs. 16.830 Millions + Rs. 2.000 Millions
	Rs. 18.830 Millions

Now as past life of structure is @ 26 years for G.F. and 16 years for F.F. So for deprecation calculation Maximum Life span i.e. past life 26 years has been considered here. Thus total depreciation in these 26 years.

Total Cumulative Deprecation comes @ 16% on present value.

Depreciated Value i.e. Actual Value	Present Value – 16% Depreciation on it
	Rs. 18.830 Millions – Rs. 3.013 Millions
	Rs. 15.817 Millions [Part I]

PART II: VALUE OF LAND

Present Value of land at Market rates privilege on that said location today in the open Market	=	Total land area in Sq. Mts. of Plot No. 54-B	x	Present Selling Rate for land on the said location per one Sq. Mt. today
	=	800.00	x	11500/-
	=	Rs. 9.200 Millions [Part II]

Total Value of the Property	=	Part I	+	Part II
	=	Rs. 15.817 Millions	+	Rs. 9.200 Millions
	=	Rs. 25.017 Millions

· DIFFERENT VALUES OF THE PROPERTY :

SR. NO.	PARTICULARS	AMOUNT IN MILLIONS
1.	Fair Market Value is	25.017
2.	Realisable Value is	22.516
3.	Distress Value is	20.264
4.	Insurable Value is	15.817
5.	Jantri Rate of Land is	Rs. 3000/- per Sq. Mt.

· FOUR BOUNDARIES OF THE PROPERTY :

On North side	By Adj. Plot No. 54-C
On South side	By Estate Internal Road
On East side	By Estate Internal Road
On West side	By Adj. Plot No. 55

TECHNICAL DETAILS

No of floors and height of each floor

G.F + F.F. ht. @ 6.10 Mt. on each floor and Mezzanine floor in between.

Plinth area floor wise [As per IS : 3861-1966]

Ground Floor
Built-up Area	395.04 m2
Mezzanine Floor Area	254.87 m2
First Floor
Built-up Area	395.04 m2
Mezzanine Floor Area	157.80 m2
Total	1202.75 m2 i.e. @ 12946.40 Sq. ft.

Year of Construction

G.F. was constructed in 1988 i.e. 26 years ago

F.F. was constructed in 1998 i.e. 16 years ago

Estimated future life

50 to 60 years more from today

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

RCC Framed Structure

Type of foundations

Open Foundations

Walls

a) Basement and plinth

b) Ground Floor

c) Superstructure above ground floor

9” thick B.B. Masonry Walls outside.

Partitions

4½ “ thick B.B. Masonry partition walls inside.

Door and Windows (Floor-Wise)

a) Ground floor

b) 1^st floor

c) 2^nd floor

M.S. Rolling Shutter and Flush doors.

Flooring (Floor-wise)

a) Ground floor

b) 1^st floor

c) 2^nd floor

Polished Kotah Stone flooring.

Finishing (Floor Wise)

a) Ground floor

b) 1^st floor

c) 2^nd floor

Neeru finished cement plaster inside with white wash and double coat sand faced cement plaster outside and cement paint wash.

Roofing and Terracing

6”th RCC slab

Special Architectural or Decorative features if any

Nil

Internal Wiring – Surface or Conduit

Concealed and Open wiring

Sanitary Installations

a) No. of Water closets

i. No. of Lavatory basins

ii. No. of urinals

iii. No. of sinks

iv. No. bath tubs

v. No. of bidets

vi. No. of geysers

b) Class of fitting, superior coloured/ superior white/ ordinary

2 W.C., 2 Wash Basin, 2 Bath tubs etc.

Compound Wall

1. Height and length

2. Type of Construction

Provided

No. of lifts and capacity

Nil

Underground sump capacity and type of construction

Provided

Overhead Tanks

1. Where located

2. Capacity

3. Type of Construction

Provided

Pump No and their Horse Power

Provided on G.L.

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

Provided

Sewage disposal - whether connected to public sewer. If septic tanks provide (No and Capacity)

Septic tank to Spak pit

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INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

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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. 61.02
UK Pound	1	Rs. 99.43
Euro	1	Rs. 77.84

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	KAR
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	4
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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.