MIRA INFORM REPORT

Report No. :	336654
Report Date :	19.08.2015

IDENTIFICATION DETAILS

Name :	LUKHI IMPEX
Registered Office :	C-606, Muktanagn Building, Kailash Puri Govind Nagar, Malad (East), Mumbai – 400097, Maharashtra
Tel. No.:	91-22-40355555
Country :	India
Financials (as on) :	31.03.2015 (Provisional)
Date of Establishment :	01.04.2008
Capital Investment :	Rs. (29.061) Million
IEC No.:	0302078371
PAN No.: [Permanent Account No.]	AACFL1179K
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Trader, Exporter and Importer of Cut and Polished Diamonds.
No. of Employees :	5 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Set up in 2008 as a partnership firm, LUKHI IMPEX is engaged in trading, importing and exporting of cut and polished diamonds. It is established partnership concern having a satisfactory track record. The rating reflects on concern year on year growth into its operating income, above average financial risk profile, marked by zero gearings. The rating further takes into consideration on extensive industry experience of the firm’s partners and established track record of the firm in diamond business. The rating is constrained on highly fragmented and competitive diamond industry and foreign exchange fluctuation risk. However, trade relations are fair. Business is active. Payment terms are reported to be usually correct. In view aforesaid, the concern can be considered for normal business dealings at its usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

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

EXTERNAL AGENCY RATING

NOT AVAILABLE

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Bharat Babubhai Lukhi
Designation :	Partner
Contact No.:	91-9930356707
Date :	17.08.2015

LOCATIONS

Registered Office :	C-606, Muktanagn Building, Kailash Puri Govind Nagar, Malad (East), Mumbai – 400097, Maharashtra, India
Tel. No.:	91-22-40355555
Mobile No.:	91-9820001735 (Mr. Paresh Lukhi) 91-9930356707 (Mr. Bharatbhai Lukhi) 91-9022962295 (Mr. Prashant)
Fax No.:	Not Available
E-Mail :	blukhi@gmail.com
Location :	Owned

PARTNERS

Name :	Mr. Bharat Babubhai Lukhi
Designation :	Partner
Address :	B/14, Vinalak Height Upper, Govindnagam, Malad (East), Mumbai – 400097, Maharashtra, India
Date of Birth/Age :	22.06.1988
Qualification :	SSC
Experience :	8 Years
PAN No.:	ACVPL9229P
Name :	Mr. Naresh Govindbhai Lukhi
Designation :	Partner
Address :	1007-C, Upvan Tower, Upper Govindnagar, Malad (East), Mumbai – 400097, Maharashtra, India
Date of Birth/Age :	19.03.1979
Qualification :	SSC
Experience :	15 Years
PAN No.:	ABPPL6272M
Passport No.:	F7891887
Name :	Mr. Umesh Thakarshibhai Lukhi
Designation :	Partner
Address :	C/606, Muktagan Building, Kailashpuri, Uppergovind Nagar, Malad [East], Mumbai – 400097, Maharashtra, India
Date of Birth/Age :	30.10.1984
Qualification :	SSC
Experience :	12 Years
PAN No.:	ABWPL6387Q
Passport No.:	L2462796
Name :	Mr. Paresh Govindbhai Lukhi
Designation :	Partner
Address :	B/14, Vinalak Height Upper, Govindnagam, Malad (East), Mumbai – 400097, Maharashtra, India
Date of Birth/Age :	22.02.1981
Qualification :	HSC
Experience :	13 Years
PAN No.:	ACGPL3479A
Passport No.:	L4337909

BUSINESS DETAILS

Line of Business :	Trader, Exporter and Importer of Cut and Polished Diamonds.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	Cut and Polished Diamonds
Countries :	· Belgium · Dubai
Imports :
Products :	Rough Diamonds
Countries :	Belgium
Terms :
Selling :	Credit (60 Days and 90 Days)
Purchasing :	Credit (90 Days and 120 Days)

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

Wholesalers and Retailers

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

5 (Approximately)

Bankers :

Bank Name:	Oriental Bank of Commerce
Branch:	Bandra (West) Branch, Mumbai - 400050, Maharashtra, India
Person Name (with Designation):	Ms. Swati (Loan Department)
Contact Number:	91-22-26416107/ 26421011
Name of Account Holder:	LUKHI IMPEX
Account Number:	10451131002765
Account Since (Date/ Year of A/c Opening):	28.12.2014
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	No Facilities
Account Operation:	Current Account
Remarks: Satisfactory

Auditors :
Name :	Mr. Bhavesh P. Sanghavi Chartered Accountant
Address :	F1, Rashdhara Soceity, 385 SVP Road, Mumbai – 400004, Maharashtra, India
Mobile No.:	91-9821144141
E-Mail :	bpsanghavi@yahoo.com
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

PARTNERS CAPITAL AS ON 31.03.2015 [PROVISIONAL]

NAMES OF PARTNERS	AMOUNT IN MILLION
Bharat Babubhai Lukhi	2.886
Naresh Govindbhai Lukhi	5.069
Paresh G. Lukhi	(12.386)
Umesh T. Lukhi	(24.630)
Total	(29.061)

FINANCIAL DATA

[all figures are in Rupees Million]

Note : Sole Proprietary and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry.

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2015 [Provisional]	31.03.2014	31.03.2013
SHAREHOLDERS FUNDS
1] Partners Capital		(29.061)	12.728	29.307
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		(29.061)	12.728	29.307
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		54.912	0.920	1.700
TOTAL BORROWING		54.912	0.920	1.700
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		25.851	13.648	31.007
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.448	5.448	0.219
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	49.000	81.979	16.275
	Sundry Debtors	0.000	12.871	0.000
	Cash & Bank Balances	0.762	1.857	1.485
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	18.098	18.113	22.292
Total Current Assets		67.860	114.820	40.052
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	47.457	106.608	9.245
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.000	0.012	0.019
Total Current Liabilities		47.457	106.620	9.264
Net Current Assets		20.403	8.200	30.788
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		25.851	13.648	31.007

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015 [Provisional]	31.03.2014	31.03.2013
	SALES
		Income	49.628	58.001	47.130
		Other Income	0.678	1.170	1.237
		TOTAL	50.306	59.171	48.367
Less	EXPENSES
		Cost of Goods sold	47.333	55.694	45.215
		Conveyance	0.046	0.058	0.037
		Electricity Charges	0.045	0.028	0.000
		Interest to Partners	0.750	0.750	0.950
		Office Expenses	0.052	0.114	0.045
		Office Rent	0.496	0.426	0.000
		Salary Expenses	0.090	0.558	0.568
		Assortment Charges	0.204	0.038	0.033
		Brokerage	0.283	0.295	0.316
		Salary to Partners	0.000	0.000	0.150
		Other Expenses	0.184	0.294	0.334
		TOTAL	49.483	58.255	47.648
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		(Including Depreciation Expenses)	0.916	0.719
Less/ Add	DEPRECIATION/ AMORTISATION			0.036	0.026
	PROFIT BEFORE TAX		0.823	0.880	0.693
Less	TAX		0.200	0.276	0.220
	PROFIT AFTER TAX		0.623	0.604	0.473

KEY RATIOS

PARTICULARS		31.03.2015 [Provisional]	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	1.26	1.04	1.00
Return on Total Assets (PBT/Total Assets}	(%)	0.85	0.50	1.17
Return on Investment (ROI) (PBT/Networth)		(0.02)	0.05	0.02
Debt Equity Ratio (Total Liability/Networth)		(1.89)	0.07	0.06
Current Ratio (Current Asset/Current Liability)		1.43	1.08	4.32

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particulars	31.03.2013	31.03.2014	31.03.2015 [Provisional]
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Partners Capital	29.307	12.728	-29.061
Reserves & Surplus	0.000	0.000	0.000
Net worth	29.307	12.728	-29.061
Secured Loans	0.000	0.000	0.000
Unsecured Loans	1.700	0.920	54.912
Total borrowings	1.700	0.920	54.912
Debt/Equity ratio	0.058	0.072	-1.890

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015 [Provisional]
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	47.130	58.001	49.628
		23.066	(14.436)

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015 [Provisional]
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	47.130	58.001	49.628
Profit	0.473	0.604	0.623
	1.00%	1.04%	1.26%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	Yes
16	No. of employees	Yes
17	Details of sister concerns	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	No
22	Conduct of the banking account	Yes
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	Yes
29	Profitability for last three years	Yes
30	Major shareholders, if available	No
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

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

DIAMOND INDUSTRY – INDIA

- From time immemorial, India is well known in the world as the birthplace for diamonds.  It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8^th Century B.C.  India, in fact, remained undisputed leader till 18^th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

- The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

- The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

- Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

- Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

- Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

- Excerpts from Times of India dated 30^th October 2010 is as under –

- Gem & Jewellery Export Promotion Council in its statistical data has shown the export of polished diamonds to have increase by 28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012, India exported $ 1.84 billion worth of polished diamonds in February 2013. A senior executive of GJEPC said, “Export of cut and polished diamonds started falling month-wise after the imposition of 2 % of import duty on the polished diamonds. But February, 2013 has given a new ray of hope to the industry as the export of polished diamonds has actually increased by 28 %. It means the industry is on the track of recovery and round tripping of diamonds has stopped completely.” Demand has started coming from the US, the UK, Japan and China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.

- The banking sector has started exercising restraint while following prudent risk management norms when lending money to gems and jewellery sector. This follows the implementation of Basel III accord – a global voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity.

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

UNSECURED LOANS

(RS. IN MILLION)

PARTICULARS	31.03.2015 (Provisional)
Loans from Associated Concerns
Tanvi Construction Private Limited	5.000
Lukhi Diam BVBA	36.141
Damount DMCC	18.271
Total	59.412

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

LUKHI IMPEX

COMPUTATION OF TOTAL INCOME

(RS. IN MILLION)

PARTICULARS	31.03.2014
I. INCOME FROM PROFIT/ GAIN OF BUSINESS/ PROFESSION
Income from Business/ Profession
1. Net Profit as per P&L Account
Net Profit/ (Loss)		0.604
Add: Interest paid to Partners		0.000
		-----------
Add: Disallowable and / Items considered separately
Interest on Late payment of TDS and PT	0.011
Income Tax	0.276		0.287
Less: Allowable and / Items considered separately
Interest Income			(1.169)	(0.278)
			-----------
Less: Allowable Interest				0.000
				-----------
				(0.278)
Loss Setoff with Other Sources				(0.278)
				-----------
					0.000
II. INCOME FROM OTHER SOURCES
Deposits with other concerns (Interest Income)				1.169
				-----------
CY Business (Other than Speculation)				1.169
Loss Setoff				(0.278)
				-----------
					0.891
					-----------
GROSS TOTAL INCOME					0.891
TOTAL INCOME					0.891
					-----------
Tax on Total Income					0.267
					-----------
Tax Payable					0.267
Education Cess @ 3%					0.008
					-----------
TAX PAYABLE + EDUCATION CESS					0.275
Less: Advance Tax Paid
- 07.09.2013				0.050
- 12.12.2013				0.050
- 15.03.2014				0.100	(0.200)
Less: Tax deducted at Source
- u/s 192				0.072	(0.072)
					-----------
					0.003
Add: Interest				0.001	0.001
				-----------	-----------
					0.004
					-----------
NET TAX + INTEREST PAYABLE					0.004

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

MR. NARESH GOVINDBHAI LUKHI

STATEMENT OF INCOME

(RS. IN MILLION)

PARTICULARS	31.03.2013
1. BUSINESS INCOME
A. SHARE OF PROFIT RECEIVED FROM R.F.
Lukhi Impex	0.213
Glossy Jewel	(0.087)
	------------
	0.126
Less: Exempted u/s 10(2A)	0.126	0.000
	------------
B. REMUNERATION RECEIVED FROM R.F.
Lukhi Impex		0.075
C. INTEREST RECEIVED FROM R.F.
Lukhi Impex		0.400
		------------
		0.475
Less: Professional Tax		0.003
		------------	0.472
2. INCOME FROM OTHER SOURCES
INTEREST INCOME
INTEREST RECEIVED FROM
Bank Interest		0.003	0.003
			------------
			0.475
LESS: DEDUCTIONS
u/s 80C School Fees		0.046
u/s 80TTA Saving Bank Account Interest		0.003	0.049
			------------
			0.426
ADD: FOR TAX CALCULATION:
Gross Agriculture Income		0.172
Less: Expenses incurred to carry Agriculture Operations		0.060	0.112
			------------
TOTAL INCOME			0.538
Tax Payable			0.038
Less: Net Agriculture Income		0.111
Add: Rs. 0.200 Million as per Section (2)		0.200
		------------
		0.311
AGRICULTURE REBATE			0.011
Actual Tax Payable		0.026
		0.001
		0.027
Add: Interest Payable		0.004	0.031
Tax Paid (S.A.)			0.032
			------------
REFUND DUE			0.001
(With Interest u/s 244-A)

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

MR. BHARAT BABUBHAI LUKHI

STATEMENT OF INCOME

(RS. IN MILLION)

PARTICULARS	31.03.2013
PROFIT AND GAINS OF BUSINESS OR PROFESSION
Partnership Firm Income Lukhi Impex		0.423
		------------
Total Income from Business and Profession		0.423
Income chargeable under the head “Business or Profession”			0.423
INCOME FROM OTHER SOURCES
Bank Interest		0.001
		------------
Income chargeable under the head “Other Sources”			0.001
			------------
GROSS TOTAL INCOME			0.424
Deductions under Chapter VI-A
80TTA: Interest on Saving Bank Account			0.002
			------------
TOTAL INCOME			0.422
Agriculture Income	0.150
Tax on Total Income			0.029
Add: Education Cess			0.001
			------------
Tax with cess			0.030
			------------
Net Tax			0.030
Interest u/s 234A		0.004
Interest u/s 234B		0.005
Interest u/s 234C		0.001	0.010
			------------
Net Tax Payable			0.040
Self Assessment Tax paid			0.040
			------------
BALANCE TAX PAYABLE			0.000

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

MR. UMESH THAKARSHIBHAI LUKHI

STATEMENT OF INCOME

(RS. IN MILLION)

PARTICULARS	31.03.2014
1. BUSINESS INCOME
A. SHARE OF PROFIT RECEIVED FROM R.F.
Lukhi Impex	0.090
Lukhi Associates	0.000
Glossy Jewel	(0.087)
	--------------
	0.003
Less: Exempted u/s 10(2A)	0.003
	--------------	0.000
B. REMUNERATION RECEIVED FROM R.F.	0.000
	--------------	0.000
C. INTEREST RECEIVED FROM R.F.
Lukhi Impex	0.000
Lukhi Associates	0.526
Glossy Jewel	0.000	0.526
	--------------	--------------
		0.526
Less: Professional Tax		0.003
		--------------	0.523
2. INCOME FROM OTHER SOURCES
INTEREST INCOME
INTEREST RECEIVED FROM
Bank Interest		0.006	0.006
			--------------
			0.529
LESS: DEDUCTIONS
u/s 80C Stamp Duty and Registration	0.160	0.100
u/s 80TTA Saving Bank Account Interest		0.006	0.106
			--------------
			0.423
ADD: FOR TAX CALCULATION:
Gross Agriculture Income		0.204
Less: Expenses incurred to carry Agriculture Operations		0.072	0.132
			--------------
TOTAL INCOME			0.555
Tax Payable			0.041
Less: Net Agriculture Income	0.132
Add: Rs. 0.200 Million as per Section (2)	0.200
	--------------
	0.332
AGRICULTURE REBATE			0.013
Actual Tax Payable	0.028
Less: Rebate u/s 87A	0.002
	0.026
Add: Education Cess @ 3%	0.001
	0.027
Add: Interest Payable	0.006
	--------------		0.033
Tax Paid (S.A.)			0.033
			--------------
BALANCE PAYABLE			0.000

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

MR. PARESH GOVINDBHAI LUKHI

STATEMENT OF INCOME

(RS. IN MILLION)

PARTICULARS	31.03.2014
1. BUSINESS INCOME
A. SHARE OF PROFIT RECEIVED FROM R.F.
Lukhi Impex	0.151
Lukhi Associates	0.000
Glossy Diam	(0.087)
	-------------
	0.064
Less: Exempted u/s 10(2A)	0.064
	-------------	0.000
B. REMUNERATION RECEIVED FROM R.F.	0.000	0.000
	-------------
C. INTEREST RECEIVED FROM R.F.
Lukhi Impex	0.000
Lukhi Associates	0.398
Glossy Diam	0.000	0.398
	-------------	-------------
		0.398
Less: Professional Tax		0.002
		-------------	0.396
2. INCOME FROM OTHER SOURCES
INTEREST INCOME
INTEREST RECEIVED FROM
Bank Interest		0.004	0.004
			-------------
			0.400
LESS: DEDUCTIONS
u/s 80C School Fees	0.051
u/s 80C Stamp Duty and Registration	0.617	0.100
u/s 80TTA Saving Bank Account Interest		0.004	0.104
			-------------
			0.296
ADD: FOR TAX CALCULATION:
Gross Agriculture Income		0.192
Less: Expenses incurred to carry Agriculture Operations		0.069	0.123
			-------------
TOTAL INCOME			0.419
Tax Payable			0.022
Less: Net Agriculture Income		0.123
Add: Rs. 0.200 Million as per Section (2)		0.200
		-------------
		0.323
AGRICULTURE REBATE			0.012
Actual Tax Payable		0.010
Less: Rebate u/s 87A		0.002
		0.008
Add: Education Cess @ 3%		0.000
		0.008
Add: Interest Payable		0.000	0.008
Tax Paid (S.A.)			0.008
			-------------
BALANCE PAYABLE			0.000

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

MR. NARESH GOVINDBHAI LUKHI

CAPITAL ACCOUNT

(RS. IN MILLION)

PARTICULARS	31.03.2013	PARTICULARS	31.03.2013
To Drawings	0.120	By Balance b/f	12.342
To Bank Charges	0.000
To School Fees	0.046	By Net Profit from
To Income Tax	0.007	Lukhi Impex	0.213
To Professional Tax	0.002	Glossy Diam	(0.087)
To Demate Charges	0.000		0.126
To Loss on sale of Machine of Glossy Jewel	0.052	BY REM. RECEIVED FROM R.F.
		Lukhi Impex	0.075
To Balance c/f	12.830	Glossy Jewel	0.000
		BY INT. RECEIVED FROM R.F.
		Lukhi Impex	0.400
		By Interest Income	0.003
		By Agriculture Income	0.111
		By I.T. Refund AY 2011-12	0.000
TOTAL	13.057	TOTAL	13.057

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

MR. BHARAT BABUBHAI LUKHI

CAPITAL ACCOUNT

(RS. IN MILLION)

PARTICULARS	31.03.2013	PARTICULARS	31.03.2013
To Drawings	0.107	By Opening Balance	3.976
To Professional Tax	0.003	By Bank Interest	0.002
To Income Tax 2011-12	0.008	By Profit from Lukhi Impex	0.071
To Agricultural Expenses	0.078	By Salary received from Lukhi Impex	0.075
		By Interest on cap. from Lukhi Impex	0.350
		By Agriculture Income	0.228
To Balance trans. to Balance Sheet	4.506
TOTAL	4.702	TOTAL	4.702

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

MR. UMESH THAKARSHIBHAI LUKHI

CAPITAL ACCOUNT

(RS. IN MILLION)

PARTICULARS	31.03.2014	PARTICULARS	31.03.2014
To Drawings	0.239	By Balance b/f	20.778
To Professional Tax	0.003
To Bank Charges	0.002	By Net Profit from
To Demate Charges	0.001	Lukhi Impex	0.090
To Income Tax	0.018	Glossy Diam	(0.087)
		Lukhi Associates
		BY REM. RECEIVED FROM R.F.	0.000
To Balance c/f	21.188
		BY INT. RECEIVED FROM R.F.
		Lukhi Associates	0.526
		By Interest Income	0.006
		By Dividend Received	0.006
		By Agriculture Income	0.132
		By I.T. Refund AY 2012-13	0.000
TOTAL	21.451	TOTAL	21.451

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

MR. PARESH GOVINDBHAI LUKHI

CAPITAL ACCOUNT

(RS. IN MILLION)

PARTICULARS	31.03.2014	PARTICULARS	31.03.2014
To Drawings	0.346	By Balance b/f	21.959
To Professional Tax	0.003
To Bank Charges	0.002	By House Rent	0.000
To Demate Charges	0.000
To School Fees	0.051	By Net Profit from
To Income Tax	0.007	Lukhi Impex	0.151
		Glossy Diam	(0.087)
		BY REM. RECEIVED FROM R.F.
To Balance c/f	22.149	Lukhi Impex	0.000
		Glossy Diam	0.000
		BY INT. RECEIVED FROM R.F.
		Lukhi Impex	0.000
		Glossy Diam	0.000
		Lukhi Associates	0.398
		By Interest Income	0.004
		By Dividend	0.009
		By Agriculture Income	0.123
		By I.T. Refund AY 2012-13	0.001
TOTAL	22.558	TOTAL	22.558

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

MR. NARESH GOVINDBHAI LUKHI

BALANCE SHEET

(RS. IN MILLION)

LIABILITIES	31.03.2013	31.03.2012
Capital Account	12.830	12.342
Paresh G. Lukhi	0.845	0.845
Sundry Loans	0.000	0.010
TOTAL	13.675	13.197
ASSETS
Kashimira Ceramics
(Flat Booking no. A-1701)	0.189	0.188
(Flat Booking no. C-1801)	0.732	0.247
Out of City Travel Solution
(187325 x 1)	0.281	0.281
Lukhi Impex	10.789	9.260
Glossy Jewels	0.956	2.934
Ravjibhai K. Lukhi	0.062	0.062
Jignaben Lukhi	0.494	0.104
HDFC Bank	0.057	0.119
Cash on hand	0.115	0.002
TOTAL	13.675	13.197

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

MR. BHARAT BABUBHAI LUKHI

BALANCE SHEET

(RS. IN MILLION)

SOURCES OF FUNDS		31.03.2013	31.03.2012
SHAREHOLDERS FUNDS
1] Capital		4.506	3.976
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		4.506	3.976
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		0.000	0.150
TOTAL BORROWING		0.000	0.150
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		4.506	4.126
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.063	0.063
Capital work-in-progress		0.000	0.000
INVESTMENT		4.376	3.969
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	0.067	0.094
	Other Current Assets	0.000	0.000
	Loans & Advances	0.000	0.000
Total Current Assets		0.067	0.094
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000
	Other Current Liabilities	0.000	0.000
	Provisions	0.000	0.000
Total Current Liabilities		0.000	0.000
Net Current Assets		0.067	0.094
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		4.506	4.126

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

MR. UMESH THAKARSHIBHAI LUKHI

BALANCE SHEET

(RS. IN MILLION)

LIABILITIES	31.03.2014	31.03.2013	31.03.2012
Capital Account	21.188	20.777	20.556
Kotak Securities (NSE)	0.004	0.004	0.002
Nirmal Bang Securities Private Limited	0.000	0.000	0.000
Kasturben T. Lukhi	0.190	0.000	0.000
Ruzul Lukhi	0.018	0.000	0.000
Sanjay Lukhi	0.005	0.000	0.000
Ashok T. Lukhi	0.000	0.945	0.945
Sundry Loans	0.000	0.000	0.280
TOTAL	21.405	21.726	21.783
ASSETS
Swetganga (B-101)	2.447	2.262	2.283
(Anand Nagar)
Kashimira Ceramics
(Flat Booking no. B-504)	0.245	0.245	0.245
Shah Housing F. No. 501	1.843	0.000	0.000
Car (Maruti Swift)	0.548	0.549	0.549
Tilak Finance Limited	0.000	0.000	0.217
(145000 x 1.5)
Lukhi Impex	(2.623)	7.027	16.300
Glossy Diam	0.701	1.478	1.399
Lukhi Associates	15.074	9.133	0.000
Ashok T. Lukhi	1.876	0.000	0.000
SHARES
Future Capital (8)	0.006	0.006	0.006
Larson and Toubro (300+150 BO)	0.545	0.545	0.545
Reliance Industries (30)	0.044	0.044	0.044
Reliance Power (27)	0.007	0.007	0.007
Swarn Sarita Gems (200)	0.022	0.022	0.000
Shyam Star	0.000	0.000	0.022
Out of City Travel Solution	0.218	0.218	0.000
(145000 x 1)
Kastuben Lukhi	0.007	0.007	0.062
Ankita Lukhi	0.069	0.069	0.069
HDFC Bank	0.372	0.058	0.028
Cash on hand	0.004	0.056	0.007
TOTAL	21.405	21.726	21.783

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

MR. PARESH GOVINDBHAI LUKHI

BALANCE SHEET

(RS. IN MILLION)

LIABILITIES	31.03.2014	31.03.2013	31.03.2012
Capital Account	22.149	21.959	21.779
Kotak Securities (NSE)	0.002	0.002	0.001
Nirmal Bang Securities Private Limited	0.000	0.000	0.000
Jalpa P. Lukhi	0.286	0.286	0.286
Jigna N. Lukhi	0.353	0.353	0.353
Kanchanben Lukhi	0.196	0.000	0.000
Vivan P. Lukhi	0.015	0.015	0.015
Sundry Loans	0.075	0.000	0.000
TOTAL	23.076	22.615	22.434
ASSETS
Glossy Diam	0.707	1.594	1.475
Lukhi Impex	0.541	7.861	14.880
Lukhi Associates	11.654	6.558	0.000
Blue Mount (Atul)
(Flat Booking A-1702)	3.958	3.958	3.958
Kashimira Ceramics
(Flat Booking no. D-603)	0.732	0.732	0.246
Shah Housing	1.882	0.000	0.000
Sai Developers (Flat Booking)	1.100	0.000	0.000
Tilak Finance Limited (Invest)	0.000	0.000	0.207
(138241 x 1.5)
Naresh G. Lukhi	1.445	0.845	0.845
Vasantben N. Bodara	0.053	0.053	0.053
Kanchanben Lukhi	0.000	0.069	0.069
Larsen & Toubro (450)	0.548	0.548	0.548
Reliance Power Limited (25)	0.007	0.007	0.007
Reliance Industries (36)	0.052	0.052	0.052
Swarn Sarita (150)	0.017	0.017	0.017
Out of City Travel Solution
(138241 x 1.5)	0.207	0.207	0.000
I.T. Refund A.Y. 2003-04	0.009	0.009	0.009
HDFC Bank	0.162	0.080	0.052
Cash on hand	0.002	0.025	0.016
TOTAL	23.076	22.615	22.434

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

LUKHI IMPEX

PROJECTED BALANCE SHEET

(RS. IN MILLION)

SOURCES OF FUNDS		31.03.2017	31.03.2016
SHAREHOLDERS FUNDS
1] Partners Capital		8.000	3.400
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		8.000	3.400
LOAN FUNDS
1] Secured Loans		35.000	35.000
2] Unsecured Loans		15.000	15.000
TOTAL BORROWING		50.000	50.000
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		58.000	53.400
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.348	5.398
Capital work-in-progress		0.000	0.000
INVESTMENT		10.000	10.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	22.000	20.000
	Sundry Debtors	30.000	22.500
	Cash & Bank Balances	0.952	0.802
	Other Current Assets	0.000	0.000
	Loans & Advances	0.000	0.000
Total Current Assets		52.952	43.302
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	10.000	5.000
	Other Current Liabilities	0.000	0.000
	Provisions	0.300	0.300
Total Current Liabilities		10.300	5.300
Net Current Assets		42.652	38.002
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		58.000	53.400

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

LUKHI IMPEX

PROJECTED PROFIT AND LOSS ACCOUNT

(RS. IN MILLION)

	PARTICULARS		31.03.2017	31.03.2016
	SALES
		Income	115.000	100.000
		Other Income	1.000	0.800
		TOTAL (A)	116.000	100.800
Less	EXPENSES
		Cost of Goods sold	108.000	95.000
		Selling and Adm. Expenses	2.200	2.000
		TOTAL (B)	110.200	97.000
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		5.800	3.800
Less	FINANCIAL EXPENSES (D)		3.500	2.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		2.300	1.800
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.050	0.050
	PROFIT BEFORE TAX (E-F) (G)		2.250	1.750
Less	INCOME TAX (H)		0.350	0.300
	PROFIT AFTER TAX (G-H) (I)		1.900	1.450

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

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(RS. IN MILLION)

SR. NO		PARTICULARS	31.03.2016 [Projected]	31.03.2017 [Projected]
1	1	Domestic Sales	70.000	80.000
	2	Export Sales	30.000	35.000
		Total	100.000	115.000
		Less: Excise Duty	0.000	0.000
		Net Sales [1-2]	100.000	115.000
		%age rise (+) or fall (-) in net sales as compared to previous year	201.50%	115.00%
2		COST OF SALES
	1	Raw Materials (incl. stores and other items used in process of manufacture)	0.000	0.000
		Imported (purchases)	0.000	0.000
		Opening stock of Rough Diamonds	21.000	12.500
		Add: Purchases – Local	66.000	110.000
		Less: Closing stock of Rough Diamonds	12.500	14.000
		Stores / Consumables	0.000	0.000
		Cost of Production	74.500	108.500
3		Salary and Wages	0.000	0.000
4		Other manufacturing expenses	0.000	0.000
5		Depreciation	0.050	0.050
		Sub-total [1 to 6]	74.550	108.550
		Cost of Production	74.550	108.550
		Add: Opening stock of Finished Goods	28.000	7.500
		Sub-total	102.550	116.050
		Less: Closing Stock of Finished Goods	7.500	8.000
		Sub-total (Cost of Sales)	95.050	108.050
6		Selling, General & Administrative Expenses	2.000	2.200
7		Sub-total (5+6)	97.050	110.250
8		Operating Profit before Interest	2.950	4.750
9		Interest	2.000	3.500
10		Operating profit after Interest	0.950	1.250
11	1	Add: Other non-operating income	0.800	1.000
		Sub-total (Income)	--	--
	2	Less: Interest to Partner	0.000	0.000
		Remuneration to Partner	0.000	0.000
	3	No. of Other Income / Expenses (net of 11(i) & 11(ii))	0.800	1.000
12		Profit before Tax	1.750	2.250
13		Income Tax	0.300	0.350
14		Net Profit [12-13]	1.450	1.900
15		Capital introduced	0.000	0.000
		Less: Drawings	0.000	0.000
16		Total Capital Retained	1.450	1.900
17		Retained Profit/ Net Profit	100.00%	100.00%

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

ANALYSIS OF BALANCE SHEET

(RS. IN MILLION)

SR. NO		PARTICULARS	31.03.2016	31.03.2017
		CURRENT LIABILITIES
1		Short Term Borrowings from Bank (Including Bills purchased and Discounted and the excess borrowings)
	1	From applicant bank	35.000	35.000
	2	From other banks	0.000	0.000
	3	Of which BP & BD	--	--
		Sub-total	35.000	35.000
2		Short term borrowings	--	--
3		Sundry Creditors - Trade	5.000	10.000
		Days Purchased	28	33
4		Advance payments from Customers/Deposits	0.000	0.000
5		Provision for Duties/ Taxation	0.000	0.000
6		Unsecured Loans	0.000	0.000
7		Other Statutory Liabilities due with one year	0.000	0.000
8		Deposits/ Installments of Loans / DPGS/ Debentures	0.000	0.000
9		Other current Liabilities	0.300	0.300
		Provisions	--	--
		Sub-total	5.300	10.300
10		TOTAL CURRENT LIABILITIES	40.300	45.300
		TERM LIABILITIES
11		Debentures (excl. Not matured)	0.000	0.000
12		Preference Shares excluding redeemable	0.000	0.000
13		Term Loans (Ex-Installments payable within year)	0.000	0.000
14		Deferred Payment Credits (excl. instalments due within one year)	0.000	0.000
15		Term deposits excl. Payable within year	0.000	0.000
16		Other term liabilities	0.000	0.000
17		TOTAL TERM LIABILITIES	0.000	0.000
18		TOTAL OUTSIDE LIABILITIES	40.300	45.300
		NET WORTH
19		Ordinary Share Capital	3.400	8.000
20		General Reserve	0.000	0.000
21		Quasi Equity	15.000	15.000
22		Bal. in P&L Account	0.000	0.000
23		Surplus (+) or deficit (-) in Profit & Loss Account	0.000	0.000
24		NET WORTH	18.400	23.000
25		TOTAL LIABILITIES	58.700	68.300
		CURRENT ASSETS
26		Cash & Bank balances	0.802	0.952
27		Investments (Other than Long term investments)	0.000	0.000
	1	Fixed Deposits with Banks	0.000	0.000
28	1	Receivable other than Deferred and Exports (incl. Bills pur/ Disc. Bank)	0.000	0.000
	2	Export and Local Receivable incl. Bills pur/ Disc. Bank	22.500	30.000
		Days	81	94
29		Deposits / VAT Refund	0.000	0.000
30		Inventory	20.000	22.000
		(Days Cost of Production)	73	70
	1	Raw materials (including stores)
	a	Imported	0.000	0.000
	b	Local	0.000	0.000
		(Days Cost of Production)	0	0
	2	Stores and Consumables	0.000	0.000
		(Days Cost of Production)	0	0
	3	Finished Goods (Model Master)	7.500	8.000
		(Days Cost of Production)	27	25
	4	Rough Diamonds	12.500	14.000
	a	Imported	0.000	0.000
	b	Local	0.000	0.000
31		Advance to suppliers of Raw materials & stores/spares	0.000	0.000
32		Loans and Deposits	10.000	10.000
33		Other Current Assets	0.000	0.000
34		TOTAL CURRENT ASSETS	53.302	62.952
35		Gross Block (land & building machinery vehicles work-in-progress)	5.448	5.398
36		Depreciation to date	0.050	0.050
		Addition during year	0.000	0.000
37		Net Block	5.398	5.348
		Other Current Assets	0.000	0.000
38	1	Investments/book debts /advances deposits which are not current assets
		(a) Investments in subsidiary companies/ affiliates	0.000	0.000
		(b) Others	0.000	0.000
	2	Advances to suppliers of capital goods & contractors	0.000	0.000
	3	Deferred receivables (maturity exceeding one year)	0.000	0.000
		Others	0.000	0.000
39		Non consumables stores & spares	0.000	0.000
40		Other non-current assets (incl. Dues from director)	0.000	0.000
41		TOTAL OTHER NON-CURRENT ASSETS	0.000	0.000
42		Intangible assets (patents, goodwill, prelim, expenses, bad/ doubtful debts not provided for etc.)	0.000	0.000
43		TOTAL ASSETS	58.700	68.300
44		Tangible Net Worth	18.400	23.000
45		Net Working Capital To tally with (34/10)	13.002	17.652
46		Current Ratio	1.32	1.39
47		Total Outside Liabilities / Net Worth (18/44)	2.19	1.97
		ADDITIONAL INFORMATION
		A. Arrears of depreciation	--	--
		B. Contingent Liabilities	--	--

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

COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

(RS. IN MILLION)

SR. NO	PARTICULARS	31.03.2016	31.03.2017
	CURRENT ASSETS
1	Raw materials (including stores and other items in process of manufacture)
	(a) Imported	0.000	0.000
	Months Consumption	0	0
	(b) Indigenous	0.000	0.000
	Months Consumption	0	0
2	(iii) Other consumable spares excluding those incl. 1 above	12.500	14.000
	(a) Raw Material / WIP	0.000	0.000
	Days Consumption	0	0
	(b) Indigenous	--	--
	Days Consumption	--	--
3	Stock-in-process	0.000	0.000
	Days Consumption	0	0
4	Finished Goods	7.500	8.000
	Days Consumption	27	25
5	Receivable other than Export and Deferred receivable (incl. Bills pur and discounted by Bankers)	0.000	0.000
	Months Domestic Sal excl. Deferred Sales	0	0
6	Export and Local Receivables incl. Bills pur and discounted by Bankers	22.500	30.000
	Months Export Sales	81	94
7	Advances to Suppliers of Raw Materials and Stores/ Spares Consumables	0.000	0.000
8	Other Current Assets including Cash and Bank Balances and Deferred Receivables due within one year [specify major items]	10.802	10.952
9	TOTAL CURRENT ASSETS To agree with item 34 in Form III	53.302	62.952
	CURRENT LIABILITIES (Other than bank borrowings for working capital)
10	Creditors for Purchase of Raw Material Stores and Consumables	5.000	10.000
	Days purchase	28	33
11	Unsecured Loans	0.000	0.000
12	Statutory Liabilities	0	0
13	Other Current Liabilities	0.300	0.300
	Short term Borrowings, provision for Taxation, Dividend Payable, Accrued Expenses, Deposits/ Instal of Term Loan DPGS/ Debentures etc. (Due within one year) Misc. Current Liabilities
	TOTAL CURRENT LIABILITIES To agree Sub-total B in Form III	5.300	10.300

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

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLION)

SR. NO	PARTICULARS	31.03.2016	31.03.2017
	FIRST METHOD OF LENDING
1	Total Current Assets [9 in Form IV]	53.302	62.952
2	Other Current Liabilities	5.300	10.300
	Other than Bank Borrowings
3	Working Capital	48.002	52.652
4	Minimum stipulated net working capital i.e. 25% of WCS/ 25% of Total Current Assets as the case may be depending upon method of lending being applied [Exports receivable to be excl. under both method]	12.001	13.163
5	Actual/ Projected Net Working Capital (45 in Form III)	13.002	17.652
6	Items 3 minus Items 4	36.002	39.489
7	Items 3 minus Items 5	35.000	35.000
8	Maximum permissible bank finance [Items 6 or 7 which is lower]	35.000	35.000

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

VALUATION REPORT

(GENERAL DETAILS)

Purpose of valuation	To ascertain the Fair Market Value as on date of property for Mortgage Loan proposal with Vijaya Bank, Branch : Nariman Point, Mumbai – 400021
Date of Visit	05.08.2015
Person (s)/ accompanying/ available at the site at the time of inspection :	The property was inspected in the presence of Representative of the owner of the property
Party Interested in Valuation	Valuation initiated by the Branch Manager, Vijaya Bank, Branch : Nariman Point, Mumbai - 400021
Name of the reported owner	Mr. Rajibhai Kanjibhai Lukhi
Complete address of the property (Door No. Street/ Cross Road, Survey No. etc.)	Flat No. 14-A, 14-B and 14-C, First Floor, ‘B’ Wing, Alongwith Stilt Car Parking Space, Building known “Vinayak Height”, Vinayak Heights Co-Operative Housing Society Limited, (Society Registered No. MUM/WK/HSG/T/10869/2000-01), Plot No. 183 to 185, C.T.S. No. 10/2, 10/21/1, Near Poddar School, Upper Govind Nagar, Village Dindoshi, Off. Chichowli Road, Malad (East), Mumbai – 400097
Nearby Landmark	Near Axis Bank and Poddar School
Longitude and Latitude	Longitude : 72.855824 E and Latitude : 19.176453 N
Plot Boundaries (Actual) On or Towards North On or Towards South On or Towards west On or Towards East	By Nisarg Building By Millenium Garden Building By Internal Road By Panchvati Building
OWNERSHIP OF THE PROPERTY
Name and address of the owner	The property is owned by Mr. Ravjibhai Kanjibhai Lukhi
Since how long owning the property?	Since 04.11.2003
Whether joint/ co-ownership/ other (specify)	Single Ownership
In case of joint ownership please furnish shares of each owner and also whether the shares are whether the shares are undivided?	Not Applicable
Whether assessed to wealth tax If so wealth tax paid	Not known
Corporation tax paid Amount Year of Assessment : Date of payment :	Taxes are as per the standard norms of Municipal Corporation of Greater Mumbai.
Restrictive clauses to uses, if any (whether building has certificate from the Corporation has been obtained etc.)	The building is sanctioned for residential use only
Location advantages/ Disadvantages	The area is well developed and having basic infrastructure facilities and services like water supply, electricity and telecommunication, sewage and storm water drainage system etc.
Classification of locality-Higher class, Middle class, poor class	The flat is situated in Middle class locality in Residential area.
Civil Amenities	Civic amenities such as Schools, Colleges, Markets, Banks, Shops and Hospitals etc. are available within 1 to 2 kms distance from the property.
Proximity to surface communication	The area is well connected with all parts of Mumbai and Thane district by good network of Roads and Railways. Transportation means such as Buses, Taxis and Rickshaws are available. It is situated at a distance of 2 to 3 km from Malad Railway Station and abutted to off. Chichowli Road.
Distance from the city/ Municipal limits	The area fall within the limit of
If the property is not within the city/ town/ municipal limit, then state the distance of the property from the Municipal office Municipal limit	Property is within Municipal limits
Disadvantages, if any, to be specified	Nothing specific
TITLE TO THE PROPERTY
Whether free hold	It is ownership type of tenement on freehold land
If not free hold, what is the unexpired period of the leased?	Not Applicable
If lease hold, Name of the lesser/ Lessee, nature of lease, Date of commencement and terms of renewal of lease
Rent per annum
Unearned increase payable to the lesser in the event of sale of transfer
TYPE OF PROPERTY – WHETHER
Agricultural	No
Industrial	No
Residential (Flat/Apartment) (Any restrictive clauses for sales etc., to be furnished)	Yes, Residential Flat
Commercial	No
Institutional	No
Others (Specify)	--
Area of land to be supported by a map showing shape dimension and physical features	Valuation is for flat only
Has the whole or part land being notified for acquisition by Government or statutory body? If so give details	No
Area of building/ constructed portion (state separately, staff quarters, etc.)	· Documented Carpet Area of the Flat No. 14-A = 176 sft · Documented Carpet Area of the Flat No. 14-B = 383 sft · Documented Carpet Area of the Flat No. 14-C = 375.28 sft ---------------------------------------------------------------- Total Carpet Area of the flat = 934.28 sft Say ~ 934 sft Now-a-days as per the current market trends the properties are getting cold on saleable area/ Super Built Up Area which is 30% to 55% more than carpet area. For Valuation purpose we have considered Saleable are/ Super Built Up Area 45% more than carpet area Hence, Super Built Up Area of the flat = Carpet Area X 1.45 = 934 sft X 1.45 = 1354.30sft Say ~ 1354 sft (Total Measure carpet Area all Three flats as per the Provision of Development Control Regulations for Greater Mumbai, 1991 = 941 sft) NOTE: Flat No. 14-A, 14-B, and 14-C are internally amalgamated and having common entrance.
Type/Class of construction	RCC framed structure
Service items available (list of all items to be provided – such as lifts, bore well, sump, embedded motors, D.G. set, water supply, sanitary disposal systems, canteen, stores etc.)	Municipal water supply and sewer system/ lift/ UG/ OH water tank etc.
WHAT IS THE –
Year of acquisition/ Purchase of land :	04.11.2003
Value/ Purchase price paid :	Flat No. 14-A = Rs. 0.450 Million (Agreement price in the year 2003) Flat No. 14-B = Rs. 0.977 Million (Agreement price in the year 2003) Flat No. 14-C = Rs. 0.958 Million (Agreement price in the year 2003)
Year of construction of super structure/ Purchase of building	The building was constructed in the year 1998 or thereabout
No. of Floor/ Stories	Stilt + 7 Upper floors
Year of completion	The building was complete in the year 1998 or thereabout
Cost of Construction/ Purchase price	Flat No. 14-A = Rs. 0.450 Million (Agreement price in the year 2003) Flat No. 14-B = Rs 0.977 Million (agreement price in the year 2003) Flat No. 14-C = Rs. 0.958 Million (Agreement price in the year 2003)
Additions/ Improvements carried out if any – state briefly nature additions / improvements, total cost thereof :	As per Technical Annexure
Age of Building	The building is reportedly 17 years old. (This is passed on Building Occupancy Certificate bearing No. CHE/6497/BP(WS)/AR dated 15.12.1998 issued by Municipal Corporation of Greater Mumbai)
Rate and amount of depreciation	Adopted Depreciated Market Rate for valuation
Present written down value	--
Valuer’s opinion regarding the present condition/ state of building	The building is well maintained and from internal observation of the subject flat it appears to be in good condition.
Estimated future life	About 48 years under normal circumstances with proper and regular maintenance and this opinion is based on macroscopic inspection of the subject property.
If the property is industrial:
· State for what type of activity/ industry the premises well suited · Sanctioned/ connected power load · Type of activity presently going on at the premises	Not Applicable
Whether the property is residential flat/ apartment – if so, then	Yes, Residential flat
When the building was constructed	The building was constructed in the year 1998 or thereabout
Whether full consideration has been paid and proper title documents obtained and produced for verification?	--
In which floor/ storey, flat is located	The flat is located on First Floor
If the property is of a commercial type-state:
· For what purpose the same is well suited (office purpose/ business etc.) · The present activity/ business been conducted	Not Applicable
Whether the building/ property is constructed strictly according to the sanctioned plan	The sanctioned building plan was not made available for their perusal. Hence few assumptions are made.
Whether the property is self-occupied or tenanted/ let out, if tenanted/ let out – · Since how long · To how many tenants · What is the total monthly income · If partly owner occupied specify portion and extent of area under owner occupation	Owner occupied Details not known
Whether the said property was valued earlier by you? If so · Date of Valuation · Name and address of the valuer · Whether in the approved panel of the bank · Purpose of earlier valuation · Basis of valuation	The property is not valued by them.
Basis of present valuation:
Present depreciated value	--
Fair Market value as on date	Super Built up Area of the flat = 1354 Sq. ft. Factors Considered: The Location, Internal condition of the flat and amenities and facilities available, grade and age of building, current demand and supply etc. For the same premises rates on Carpet area basis are highest on Super Built up Area basis they are lowest and on Built up Area basis they are in-between. (Prevailing Market Rates for Flat having similar amenities and loading factor are in the Range of Rs. 17000/- to Rs. 20000/- per Sq. ft.) Note: About the per Sq. ft. Rate adopted vis-à-vis the Saleable Area Regarding area, there are different terminologies in vogue in the real estate market e.g. Carpet Area, Built up Area (BUA), Super Built up Area (SBUA), Saleable Area etc. For the same property the per Sq. ft. rate is different depending upon for what type of area the rate is specified. The only measurable area is Carpet Area where as the Built up Area (BUA) and Super Built up Area (SBUA) etc.”Calculated Area”. Using a factor called “Loading Factor” (percentage increase), the Carpet Area is inflated to get the Built up Area or Super Built up Area or Saleable Area for a particular premises. There is no regulatory body to control such a loading factor, which differs from Builder to Builder and project to project. Generally the loading factor is related to amenities provided in a particular project. Under such circumstances, the Valuer’s job becomes very challenging. The Market Rate obtained during local enquiry for neighbouring properties, may be on carpet or Built up Area or Super Built up Area basis. The loading factor differs from building to building. Thus the rates obtained in Local enquiry are generally not applicable directly to the subject property. In view of this, when they are giving opinion to the bank regarding Value of the Security, for then the Intrinsic Value of the property is relevant. Their emphasis is on “Value” of the Security and not on “Built up Area” or “Super Built up Area” etc. Hence the per sq. ft. rate is judiciously adopted keeping in mind the characteristics such as the amenities provided, the loading factor adapted etc. Market Rate Adopted = Rs. 18000/- per Sq. ft. Lump-sum value adopted for Still Car Parking Space = Rs. 0.600 Million. Hence, Fair Market Value of the property as on date = (Super Built up Area x Market Rate Adopted) + (Value of Stilt Car Parking Space) = (1354 Sq. ft. x Rs. 18000/-) + Rs. 0.600 Million = Rs. 24.372 Million + Rs. 0.600 Million Say ~ Rs. 25.000 Million
Rate adopted	Rs. 18000/- per Sq. ft. rate adopted
Basis for the adopted rates	Basis is by local enquiry, location, internal condition is the flat and amenities available etc.
Govt. Guideline Value	For Stamp duty purpose the Govt. of Maharashtra has fixed the rate for new flat in this area is Rs. 115500/- per Sq. Mt. i.e. Rs. 10730/- per Sq. ft. for the year 2015.
Whether the adopted rates are commensurate with the rates adopted by the Registrar’s Office? In case of wide variation, please specify reasons.	No. It may be noted that the Govt. guideline value are for Stamp duty purpose, they are generally constant along a particular road i.e. it doesn’t take into account the advantage/ disadvantage of particular property vis-à-vis its location. Rates of plots vary from site to site and within a site from micro-site to micro-site. That is why their valuation differs from Govt. Stamp duty ready reckoner rate.
Whether the adopted rates have any relationship with those adopted by the I.T. Department	No
Whether the rates are base on prevalent rates in the area. If so, the basis for accepting the same.	Yes, The sanctioned building plan was not made available for their perusal. Hence few assumptions are made.
In case of increase in present valuation over the previous valuation done by you, then furnish the specific reasons, basis for the increase in value and the details of variation	Not Applicable
Whether the building is insured, if so- · For what value · Against what risks · Date of expiry of insurance	Details regarding building insurance were not made available for their verification.
Fair Market Value as on date	The market value obtained in this report is defined as follows: Market value is the estimated amount for which an asset should exchange on the date of valuation between a willing buyer and a willing seller in an Arm’s length transaction after proper marketing wherein the parties had each acted knowledgeably and without compulsion. (As defined by the International Valuation Standards Committee, London). Thus, the characteristics of the Market Value’s are – It is a free will sale. It is an estimated amount and not a predetermined or an actual sale price. It is time-specific as on the given date. It depends on purpose of valuation. Buyer and Seller are actuated by business principles. They are unrelated and are acting independently. Asset would be exposed to the market in the most appropriate manner to effect its disposal at the best price possible. = Rs. 25.000 Million
In case the banks were to sell the property. What would be the approximate realizable value (Forced / Distress value of property as on date)	It means the amount, which may reasonably be expected to be obtained from the sale of a property in which one or more characteristics of the definition of market value are not satisfied. The seller may be an unwilling seller and the buyer may be motivated by the knowledge of the disadvantage the seller suffers from. Past Experience has shown that generally in forced/ distress sale conditions the values fetched are about 10% to 40% (or sometimes even more below the market value). In their opinion, considering the characteristics of assets under valuation and present market trends, the reduction factor of 20% will be appropriate. They are discounting the above market value by 20%. Hence, Forced/ Distress Sale value as on date = Fair Market Value as on date x 0.80 = Rs. 25.000 x 0.80 = Rs. 20.000 Million
TECHNICAL DETAILS
Type of Construction	RCC framed structure
Completion Status	Completed
No. of stories	Stilt + 7 upper floors
Type of foundation	RCC foundations
Superstructure Walls	Masonry Walls
Internal Finish	Cement mortar plaster
External Finish	Cement mortar plaster
Type of Flooring	Marble flooring
Type of Roof	RCC Slab
Type of Paint	Decorative paint internally
Electrification	Concealed wiring with standard quality electrical fittings.
Plumbing	Concealed plumbing with standard quality sanitary fixtures
Bathroom details	Granite tiles flooring with glazed tiles dado upto full height.
Door details	Wooden frame with solid core flush doors with additional safety door at main entrance.
Window details	Powder coated Aluminum frame glazed sliding windows.
Overall Appearance	Good
Architectural Quality	Good as per visual inspection
Other details	The flat is having internal height of 9’-6” approx. and it is provided with Granite kitchen Platform with glazed tiles dado upto full height. The flat shop is well furnished and provided with decorative false ceiling and decorative wooden fixed furniture and fixtures. Also the building is bounded by 6 ft. masonry compound wall.
Special amenities	The Building is having amenities such as lifts, parking space, fire fighting system, garden, children play area, security services, decorative entrance lobby etc.

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VALUATION REPORT

(GENERAL DETAILS)

Purpose of valuation	To ascertain the Fair Market Value as on date of property for Mortgage Loan proposal with Vijaya Bank, Branch : Nariman Point, Mumbai – 400021
Date of Visit	05.08.2015
Person (s)/ accompanying/ available at the site at the time of inspection/ valuation	The property was inspected in the presence of Representative of the owner of the property
Party Interested in Valuation	Valuation initiated by The Branch Manager, Vijaya Bank, Branch : Nariman Point, Mumbai - 400021
Name of the reported owner	Mrs. Vasantben Narayanbhai Bodarya
Complete address of the property (Door No. Street/ Cross Road, Survey No. etc.)	Flat No. 13-A, 13-B, First Floor, ‘B’ Wing, Building known “Vinayak Heights”, Vinayak Heights Co-Operative Housing Society Limited, (Society Registered No. MUM/WK/HSG/T/10869/2000-01), Plot No. 183 to 185, C.T.S. No. 10/2, 10/21/1, Near Poddar School, Upper Govind Nagar, Village Dindoshi, Off. Chichowli Road, Malad (East), Mumbai – 400097
Nearby Landmark	Near Axis Bank and Poddar School
Longitude and Latitude	Longitude : 72.855824 E and Latitude : 19.176453 N
Plot Boundaries (Actual) On or Towards North On or Towards South On or Towards west On or Towards East	By Nisarg Building By Millenium Garden Building By Internal Road By Panchvati Building
OWNERSHIP OF THE PROPERTY
Name and address of the owner	The property is owned by Mrs. Vasantben Narayanbhai Bodarya
Since how long owning the property?	Since 04.11.2003
Whether joint/ co-ownership/ other (specify)	Single Ownership
In case of joint ownership please furnish shares of each owner and also whether the shares are whether the shares are undivided?	Not Applicable
Whether assessed to wealth tax If so wealth tax paid	Not known
Corporation tax paid Amount Year of Assessment : Date of payment :	Taxes are as per the standard norms of Municipal Corporation of Greater Mumbai.
Restrictive clauses to uses, if any (whether building has certificate from the Corporation has been obtained etc.)	The building is sanctioned for residential use only
Location advantages/ Disadvantages	The area is well developed and having basic infrastructure facilities and services like water supply, electricity and telecommunication, sewage and storm water drainage system etc.
Classification of locality-Higher class, Middle class, poor class	The flat is situated in Middle class locality in Residential area.
Civil Amenities	Civic amenities such as Schools, Colleges, Markets, Banks, Shops and Hospitals etc. are available within 1 to 2 kms distance from the property.
Proximity to surface communication	The area is well connected with all parts of Mumbai and Thane district by good network of Roads and Railways. Transportation means such as Buses, Taxis and Rickshaws are available. It is situated at a distance of 2 to 3 km from Malad Railway Station and abutted to off. Chichowli Road.
Distance from the city/ Municipal limits	The area fall within the limit of
If the property is not within the city/ town/ municipal limit, then state the distance of the property from the Municipal office Municipal limit	Property is within Municipal limits
Disadvantages, if any, to be specified	Nothing specific
TITLE TO THE PROPERTY
Whether free hold	It is ownership type of tenement on freehold land
If not free hold, what is the unexpired period of the leased?	Not Applicable
If lease hold, Name of the lesser/ Lessee, nature of lease, Date of commencement and terms of renewal of lease
Rent per annum
Unearned increase payable to the lesser in the event of sale of transfer
TYPE OF PROPERTY – WHETHER
Agricultural	No
Industrial	No
Residential (Flat/Apartment) (Any restrictive clauses for sales etc., to be furnished)	Yes, Residential Flat
Commercial	No
Institutional	No
Others (Specify)	--
Area of land to be supported by a map showing shape dimension and physical features	Valuation is for flat only
Has the whole or part land being notified for acquisition by Government or statutory body? If so give details	No
Area of building/ constructed portion (state separately, staff quarters, etc.)	· Documented Carpet Area of the Flat No. 13-A = 410.50 sq. ft · Documented Carpet Area of the Flat No. 13-B = 300 sq. ft ---------------------------------------------------------------- Total Carpet Area of the flat = 710.50 sq. ft Say ~ 711 sq. ft Now-a-days as per the current market trends the properties are getting cold on saleable area/ Super Built Up Area which is 30% to 55% more than carpet area. For Valuation purpose we have considered Saleable are/ Super Built Up Area 45% more than carpet area Hence, Super Built Up Area of the flat = Carpet Area X 1.45 = 711 sq. ft. X 1.45 = 1030.95 sq. ft Say ~ 1031 sq. ft (Total Measure carpet Area all Three flats as per the Provision of Development Control Regulations for Greater Mumbai, 1991 = 72C sq. ft) NOTE: Flat No. 13-A and 13-B are internally amalgamated and having common entrance.
Type/Class of construction	RCC framed structure
Service items available (list of all items to be provided – such as lifts, bore well, sump, embedded motors, D.G. set, water supply, sanitary disposal systems, canteen, stores etc.)	Municipal water supply and sewer system/ lift/ UG/ OH water tank etc.
WHAT IS THE –
Year of acquisition/ Purchase of land :	04.11.2003
Value/ Purchase price paid :	Flat No. 13-A = Rs. 1.020 Million (Agreement price in the year 2003) Flat No. 13-B = Rs. 0.600 Million (Agreement price in the year 2003)
Year of construction of super structure/ Purchase of building	The building was constructed in the year 1998 or thereabout
No. of Floor/ Stories	Stilt + 7 Upper floors
Year of completion	The building was complete in the year 1998 or thereabout
Cost of Construction/ Purchase price	Flat No. 13-A = Rs. 1.020 Million (Agreement price in the year 2003) Flat No. 13-B = Rs 0.600 Million (agreement price in the year 2003)
Additions/ Improvements carried out if any – state briefly nature additions / improvements, total cost thereof :	As per Technical Annexure
Age of Building	The building is reportedly 17 years old. (This is passed on Building Occupancy Certificate bearing No. CHE/6497/BP(WS)/AR dated 15.12.1998 issued by Municipal Corporation of Greater Mumbai)
Rate and amount of depreciation	Adopted Depreciated Market Rate for valuation
Present written down value	--
Valuer’s opinion regarding the present condition/ state of building	The building is well maintained and from internal observation of the subject flat it appears to be in good condition.
Estimated future life	About 48 years under normal circumstances with proper and regular maintenance and this opinion is based on macroscopic inspection of the subject property.
If the property is industrial:
· State for what type of activity/ industry the premises well suited · Sanctioned/ connected power load · Type of activity presently going on at the premises	Not Applicable
Whether the property is residential flat/ apartment – if so, then	Yes, Residential flat
When the building was constructed	The building was constructed in the year 1998 or thereabout
Whether full consideration has been paid and proper title documents obtained and produced for verification?	Part payment of the agreement value is done by the borrower and registered sale agreement is given for their perusal.
In which floor/ storey, flat is located	The flat is located on First Floor
If the property is of a commercial type-state:
· For what purpose the same is well suited (office purpose/ business etc.) · The present activity/ business been conducted	Not Applicable
Whether the building/ property is constructed strictly according to the sanctioned plan	The sanctioned building plan was not made available for their perusal. Hence few assumptions are made.
Whether the property is self-occupied or tenanted/ let out, if tenanted/ let out – · Since how long · To how many tenants · What is the total monthly income · If partly owner occupied specify portion and extent of area under owner occupation	Owner occupied Details not known
Whether the said property was valued earlier by you? If so · Date of Valuation · Name and address of the valuer · Whether in the approved panel of the bank · Purpose of earlier valuation · Basis of valuation	The property is not valued by them.
Basis of present valuation:
Present depreciated value	--
Fair Market value as on date	Super Built up Area of the flat = 1031 Sq. ft. Factors Considered: The Location, Internal condition of the flat and amenities and facilities available, grade and age of building, current demand and supply etc. For the same premises rates on Carpet area basis are highest on Super Built up Area basis they are lowest and on Built up Area basis they are in-between. (Prevailing Market Rates for Flat having similar amenities and loading factor are in the Range of Rs. 17000/- to Rs. 20000/- per Sq. ft.) Note: About the per Sq. ft. Rate adopted vis-à-vis the Saleable Area Regarding area, there are different terminologies in vogue in the real estate market e.g. Carpet Area, Built up Area (BUA), Super Built up Area (SBUA), Saleable Area etc. For the same property the per Sq. ft. rate is different depending upon for what type of area the rate is specified. The only measurable area is Carpet Area where as the Built up Area (BUA) and Super Built up Area (SBUA) etc.”Calculated Area”. Using a factor called “Loading Factor” (percentage increase), the Carpet Area is inflated to get the Built up Area or Super Built up Area or Saleable Area for a particular premises. There is no regulatory body to control such a loading factor, which differs from Builder to Builder and project to project. Generally the loading factor is related to amenities provided in a particular project. Under such circumstances, the Valuer’s job becomes very challenging. The Market Rate obtained during local enquiry for neighbouring properties, may be on carpet or Built up Area or Super Built up Area basis. The loading factor differs from building to building. Thus the rates obtained in Local enquiry are generally not applicable directly to the subject property. In view of this, when they are giving opinion to the bank regarding Value of the Security, for then the Intrinsic Value of the property is relevant. Their emphasis is on “Value” of the Security and not on “Built up Area” or “Super Built up Area” etc. Hence the per sq. ft. rate is judiciously adopted keeping in mind the characteristics such as the amenities provided, the loading factor adapted etc. Market Rate Adopted = Rs. 18000/- per Sq. ft. Hence, Fair Market Value of the property as on date = (Super Built up Area x Market Rate Adopted) + (Value of Stilt Car Parking Space) = (1031 Sq. ft. x Rs. 18000/-) = Rs. 18.558 Million Say ~ Rs. 18.600 Million
Rate adopted	Rs. 18000/- per Sq. ft. rate adopted
Basis for the adopted rates	Basis is by local enquiry, location, internal condition is the flat and amenities available etc.
Govt. Guideline Value	For Stamp duty purpose the Govt. of Maharashtra has fixed the rate for new flat in this area is Rs. 115500/- per Sq. Mt. i.e. Rs. 10730/- per Sq. ft. for the year 2015.
Whether the adopted rates are commensurate with the rates adopted by the Registrar’s Office? In case of wide variation, please specify reasons.	No. It may be noted that the Govt. guideline value are for Stamp duty purpose, they are generally constant along a particular road i.e. it doesn’t take into account the advantage/ disadvantage of particular property vis-à-vis its location. Rates of plots vary from site to site and within a site from micro-site to micro-site. That is why their valuation differs from Govt. Stamp duty ready reckoner rate.
Whether the adopted rates have any relationship with those adopted by the I.T. Department	No
Whether the rates are base on prevalent rates in the area. If so, the basis for accepting the same.	Yes, The sanctioned building plan was not made available for their perusal. Hence few assumptions are made.
In case of increase in present valuation over the previous valuation done by you, then furnish the specific reasons, basis for the increase in value and the details of variation	Not Applicable
Whether the building is insured, if so- · For what value · Against what risks · Date of expiry of insurance	Details regarding building insurance were not made available for their verification.
Fair Market Value as on date	The market value obtained in this report is defined as follows: Market value is the estimated amount for which an asset should exchange on the date of valuation between a willing buyer and a willing seller in an Arm’s length transaction after proper marketing wherein the parties had each acted knowledgeably and without compulsion. (As defined by the International Valuation Standards Committee, London). Thus, the characteristics of the Market Value’s are – It is a free will sale. It is an estimated amount and not a predetermined or an actual sale price. It is time-specific as on the given date. It depends on purpose of valuation. Buyer and Seller are actuated by business principles. They are unrelated and are acting independently. Asset would be exposed to the market in the most appropriate manner to effect its disposal at the best price possible. = Rs. 18.600 Million
In case the banks were to sell the property. What would be the approximate realizable value (Forced / Distress value of property as on date)	It means the amount, which may reasonably be expected to be obtained from the sale of a property in which one or more characteristics of the definition of market value are not satisfied. The seller may be an unwilling seller and the buyer may be motivated by the knowledge of the disadvantage the seller suffers from. Past Experience has shown that generally in forced/ distress sale conditions the values fetched are about 10% to 40% (or sometimes even more below the market value). In their opinion, considering the characteristics of assets under valuation and present market trends, the reduction factor of 20% will be appropriate. They are discounting the above market value by 20%. Hence, Forced/ Distress Sale value as on date = Fair Market Value as on date x 0.80 = Rs. 18.600 x 0.80 = Rs. 14.880 Million Say ~ Rs. 14.900 Million
TECHNICAL DETAILS
Type of Construction	RCC framed structure
Completion Status	Completed
No. of stories	Stilt + 7 upper floors
Type of foundation	RCC foundations
Superstructure Walls	Masonry Walls
Internal Finish	Cement mortar plaster
External Finish	Cement mortar plaster
Type of Flooring	Marble flooring
Type of Roof	RCC Slab
Type of Paint	Decorative paint internally
Electrification	Concealed wiring with standard quality electrical fittings.
Plumbing	Concealed plumbing with standard quality sanitary fixtures
Bathroom details	Granite tiles flooring with glazed tiles dado upto full height.
Door details	Wooden frame with solid core flush doors with additional safety door at main entrance.
Window details	Powder coated Aluminum frame glazed sliding windows.
Overall Appearance	Good
Architectural Quality	Good as per visual inspection
Other details	The flat is having internal height of 9’-6” approx. and it is provided with Granite kitchen Platform with glazed tiles dado upto full height. The flat shop is well furnished and provided with decorative false ceiling and decorative wooden fixed furniture and fixtures. Also the building is bounded by 6 ft. masonry compound wall.
Special amenities	The Building is having amenities such as lifts, parking space, fire fighting system, garden, children play area, security services, decorative entrance lobby etc.

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FIXED ASSETS

· Building

· Office Furniture

· Plant and Machinery

· 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 records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 65.22
UK Pound	1	Rs. 102.23
Euro	1	Rs. 72.39

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	KAS
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.