MIRA INFORM REPORT

Report No. :	305900
Report Date :	11.02.2015

IDENTIFICATION DETAILS

Name :	SAHJANAND POLYMERS
Registered Office :	Plot No. 55/4, Panchratna Industrial Estate, B/H Laxminarayan Petrol Pump, Changodar, Ahmedabad – 380060, Gujarat
Country :	India
Financials (as on) :	--
Date of Establishment :	11.09.2014
Capital Investment :	Not Divulged
IEC No.:	0814023975
PAN No.: [Permanent Account No.]	AAZFM3783D
Legal Form :	Partnership Concern with an Unlimited Liability of the Partners
Line of Business :	Manufacturer of Spun Filter Cartridge for RO Machines.
No. of Employees :	8 (1 in Office and 7 in Factory) (Approximately)

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
-	NB	New Business	-

Status :	New Concern
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a new partnership concern incorporated during 11.09.2014 and establishing itself gradually. Mr. Bhavesh Ratilal Patel (Partner) has provided us with all information. Trade relations are fair. Business is active. Payment terms are reported to be unknown. The concern can be considered for business dealings on a safe and secured trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Bhavesh Ratilal Patel
Designation :	Partner
Contact No.:	91-9428915656
Date :	09.02.2015

LOCATIONS

Registered Office/ Factory :	Plot No. 55/4, Panchratna Industrial Estate, B/H Laxminarayan Petrol Pump, Changodar, Ahmedabad – 380060, Gujarat
Tel. No.:	Not Available
Mobile No.:	91-9428915656 [Mr. Bhavesh Ratilal Patel] 91-9586308046 [Mr. Krupesh Bharatbhai Motka]
Fax No.:	Not Available
E-Mail :	sahjanandpolymers@yahoo.com
Area :	4212 Sq. ft.
Location :	Owned

PARTNERS

Name :	Mr. Bhavesh Ratilal Patel
Designation :	Partner
Address :	Umiya Township, New 80 feet Road, Wadhwan, Surendranagar – 363002, Gujarat, India
Date of Birth/Age :	26.05.1986
Qualification :	Diploma in Mechanical Engineering
Experience :	7 Years
PAN No.:	ASSPP0720A
Passport No.:	K5768030
Profile :	Partner is a Diploma Mechanical Engineer, very much energetic and enthusiastic entrepreneur and further he is having rich experience, in the line of activity, in managing the affairs of the unit for last around 6 years. He has proprietor in Sahjanand Digital Printers as working as Proprietor. He is very good experience of marketing of Printing materials in Sahjanand Digital Printers. He is looking after marketing and business development activity in Sahjanand Digital Printers.
Name :	Mr. Krupesh Bharatbhai Motka
Designation :	Partner
Address :	330, Patel Was Harijan Weas, Old and New Mota, Ankevalia, Taluka Dhrangadhara, Surendranagar - 363340, Gujarat, India
Date of Birth/Age :	05.05.1995
Qualification :	Diploma in IT Engineering
PAN No.:	COHPM1835G
Voter ID :	ZPG1877166
Profile :	Partner is a Diploma IT Engineering having sound knowledge in Information Technologies and Computer Environment. He is also engaged in all electronic communication and technical department of Firm having good command over technologies changes.
Name :	Mrs. Kailashben Arvindbhai Patel
Designation :	Partner
Address :	C/3 302, lscon Flower Apartment, Near Lal Gebi Ashram Bopal, Ghuma Road, Bopal, Ahmedabad - 380060, Gujarat, India
Date of Birth/Age :	14.04.1978
Qualification :	SSC
PAN No.:	CIWPP0902L
Profile :	Partner is a SSC. She is financial partner in firm. She invests money in firm.
Name :	Mr. Vishalkumar Jagjivanbhai Mahakana
Designation :	Partner
Address :	Umiya 574, Navo, Plot Shriji Sosa, Jean Area and Wadi Area, Jasapara, Taluka Muli, District Surendranagar – 363510, Gujarat, India
Date of Birth/Age :	27.09.1994
Qualification :	B. Sc IT
PAN No.:	CMDPM9670H
Voter ID :	ZYX2069284
Profile :	Partner is B. Sc IT having sound knowledge in Information Technologies and Computer Environment, having good command over technologies changes. He is Sleeping partner in firm.
Name :	Mr. Vinodbhai Nanjibhai Patel
Designation :	Partner
Address :	23-24-25-201, Sarvodayanagar, Udhana, Surat – 394210, Gujarat, India
Date of Birth/Age :	26.01.1972
Qualification :	8th Standard
PAN No.:	CQGPP2088H
Voter ID :	GJ/24/172/120120
Profile :	Partner is 8th Standard, He is financial partner in firm, He is sleeping partner in firm. Understanding of the changes in technology is of very much importance in this industry, where the partner is having the unparalleled advantage understanding, with respect to technology.

BUSINESS DETAILS

Line of Business :	Manufacturer of Spun Filter Cartridge for RO Machines.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	--
Countries :	--
Imports :
Products :	--
Countries :	--
Terms :
Selling :	Credit [60 Days]
Purchasing :	Credit [7 Days]

PRODUCTION STATUS

Products	Installed Capacity
Spun Filter Cartridge	1550000

GENERAL INFORMATION

Proposed Suppliers :

Reference:	Shreenath Polyplast Private Limited 503, Siromani, Near Nehru Nagar Circle, Satelite Road, Ahmedabad, Gujarat, India
Name of the Person (Designation):	Ms. Riddhi [Accounts Officer]
Contact Number:	91-79-30072323
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	We will supply raw material, after they start business.

Reference:	Crystal Quinone Private Limited Plot No. 143, GIDC, Vatva, Ahmedabad, Gujarat, India
Name of the Person (Designation):	--
Contact Number:	91-9825118288
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	Constantly Ringing

Proposed Customers :

Wholesalers and Retailers

Reference:	Swara Enterprise Marutinandan Complex Basement, Havmor Restorant, K.K. Nagar Road, Ghatlodiya, Ahmedabad, Gujarat, India
Name of the Person (Designation):	Mr. Sanjay [Proprietor]
Contact Number:	91-9825055861
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	He informed, Mr. Bhavesh Patel [Owner of Sahjanand Polymers] has visited our office for business proposal. We will be doing business in future with them as their business is about to start.

Reference:	Prayosha Engineering 6/183, Chanakyapuri Society, Opposite J J Hospital, Ghatlodiya, Ahmedabad, Gujarat, India
Name of the Person (Designation):	Mr. Dharmendra [Proprietor]
Contact Number:	91-9925195861
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	He informed, company is about to start operations and will be their future customer.

· Apex Electro-Tech System

Address: A-25, Ahmedabad Complex, Sarkhej-Sanand Circle, Sarkhej, Ahmedabad, Gujarat, India

Mobile No.: 91-9558808753

· Jayveer RO System

Address: FF-4, Shri Kabir Enclave, Opposite Homeopathic College, Bopal-Ghuma Road, Bopal, Ahmedabad, Gujarat, India

Mobile No.: 91-8140159139

· Rutva Water and Service

Address: Celler No.3, Simandhar Complex, KK Nagar Road, Ahmedabad, Gujarat, India

Mobile No.: 91-8530188855

· Mobarak Water Purifier

Address: New Market, Opposite Old Power House, Surendranagar, Gujarat, India

Mobile No.: 91-9428571152

· Navkar R.O. System

Address: B/9, Basement, New York Tower – A, Opposite Muktidham, Jain Temple, S.G. Highway, Thaltej, Ahmedabad, Gujarat, India

Mobile No.: 91-9925247858

No. of Employees :

8 (1 in Office and 7 in Factory) (Approximately)

Bankers :

Bank Name:	Bank of India
Branch:	Changodar Branch, Ahmedabad, Gujarat
Person Name (with Designation):	Mr. N.K. Lal [Senior Branch Manager]
Contact Number:	91-8866234909
Name of Account Holder:	Sahjanand Polymers
Account Number:	204520110000310
Account Since (Date/ Year of A/c Opening):	08.10.2014
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	Satisfactory
Remarks: --

Facilities :

--

Auditors :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

Capital Investment :
Owned :	Not Divulged
Borrowed :	Not Divulged
Total :	Not Divulged

FINANCIAL DATA

[all figures are in Rupees Millions]

NEW BUSINESS

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

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	No
12]	Profitability for last three years	No
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
15]	Capital in the business	No
16]	Details of sister concerns	No
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	No
28]	Incorporation details, if applicable	No
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	No
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	No

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CALCULATION OF INTEREST COVERAGE RATIO

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimated	Projected	Projected	Projected	Projected	Projected
A	Profit before Interest and Depreciation
1	Net Profit	0.000	1.500	1.800	2.000	2.600	2.900
2	Add: Interest	0.000	1.400	1.300	1.100	0.900	0.700
3	Add: Depreciation	0.000	0.900	0.800	0.600	0.600	0.500
	TOTAL [A]	0.000	3.800	3.800	3.700	4.000	4.100
B	Interest	0.000	1.400	1.300	1.100	0.900	0.700
	Interest Coverage Ratio [A / B]	0.00	2.62	3.00	3.41	4.42	5.64
	Average Interest Coverage Ratio	4.21

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CALCULATION OF DEBT SERVICE COVERAGE RATIO

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimated	Projected	Projected	Projected	Projected	Projected
A	Profit before Interest and Depreciation
1	Net Profit	0.000	1.500	1.800	2.000	2.600	2.900
2	Add: Interest	0.000	1.400	1.300	1.100	0.900	0.700
3	Add: Depreciation	0.000	0.900	0.800	0.600	0.600	0.500
	TOTAL [A]	0.000	3.800	3.800	3.700	4.000	4.100
B	Repayment of Loan and Interest
1	Interest	0.000	1.400	1.300	1.100	0.900	0.700
2	Repayment of loan
-		0.000	0.900	1.200	1.200	1.200	1.200
-	Increase in Misc. Exp. Not w/off	0.000	0.000	0.000	0.000	0.000	0.000
-		0.000	0.000	0.000	0.000	0.000	0.000
-	Others	0.000	0.000	0.000	0.000	0.000	0.000
	TOTAL [B]	0.000	2.400	2.500	2.300	2.100	1.900
C	Calculation of DSCR [A / B]	0.00	1.61	1.53	1.61	1.89	2.12
D	Average DSCR [from 2008 to 2014]	2.14

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PROJECTED BALANCE SHEET

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimated	Projected	Projected	Projected	Projected	Projected
I	SOURCES OF FUND
1	Share Capital	3.600	5.500	6.200	7.400	8.700	9.600
	Share Application	0.000	0.000	0.000	0.000	0.000	0.000
2	Reserves and Surplus
	Capital Reserves	0.000	0.000	0.000	0.000	0.000	0.000
	Securities Premium	0.000	0.000	0.000	0.000	0.000	0.000
	General Reserve	0.000	0.000	0.000	0.000	0.000	0.000
	Profit and loss account	0.000	0.000	0.000	0.000	0.000	0.000
	Total	0.000	0.000	0.000	0.000	0.000	0.000
3	Secured Loan
	Term Loan	6.100	5.200	4.000	2.700	1.500	0.300
	Working Capital facilities	0.000	4.000	4.000	4.000	4.000	4.000
	Total	6.100	9.200	8.000	6.700	5.500	4.300
4	Unsecured Loan	0.000	0.000	0.000	0.000	0.000	0.000
5	Deferred Tax Liability	0.000	0.000	0.000	0.000	0.000	0.000
	TOTAL [I]	9.700	14.600	14.200	14.200	14.200	13.900
II	APPLICATION OF FUNDS
1	Gross Fixed Assets	8.100	8.100	7.200	6.500	5.800	5.300
	Less: Depreciation fund	0.000	0.900	0.800	0.600	0.600	0.500
	WIP	0.000	0.000	0.000	0.000	0.000	0.000
	Net Fixed Assets	8.100	7.200	6.500	5.800	5.300	4.800
2	Investment	0.000	0.000	0.000	0.000	0.000	0.000
3	Current Assets Loans and Advances
	- Inventories	0.000	3.500	3.900	4.300	4.700	4.900
	- Sundry Debtors	0.000	3.600	4.000	4.400	4.800	5.100
	- Loans and Advances and Current Assets	0.000	0.000	0.000	0.000	0.000	0.000
	- Cash and Bank Balances	1.600	1.300	1.000	0.900	0.900	0.800
	Total	1.600	8.400	8.800	9.600	10.400	10.800
4	Less: Current Liabilities and Provision	0.000	1.000	1.100	1.200	1.500	1.700
	Net Current Assets [3-4]	1.600	7.400	7.700	8.300	8.900	9.100
5	Misc. Expenditure not w/off	0.000	0.000	0.000	0.000	0.000	0.000
	TOTAL [II]	9.700	14.600	14.200	14.200	14.200	13.900

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

PROJECTED PROFIT AND LOSS ACCOUNTS

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimated	Projected	Projected	Projected	Projected	Projected
	INCOME
1	Income from Operations	0.000	21.700	23.900	26.300	28.900	30.300
2	Other Income	0.000	0.000	0.000	0.000	0.000	0.000
	Total Income	0.000	21.700	23.900	26.300	28.900	30.300
	EXPENDITURE
1	Excise Duty paid	0.000	0.000	0.000	0.000	0.000	0.000
2	Increase/ (Decrease) in stock	0.000	0.000	0.000	0.000	0.000	0.000
3	Cost of raw materials	0.000	14.100	15.500	17.100	18.800	19.700
4	Cost of packing materials	0.000	0.000	0.000	0.000	0.000	0.000
5	Cost of stores and spares	0.000	0.000	0.000	0.000	0.000	0.000
6	Power and fuel	0.000	1.600	1.800	2.000	2.200	2.300
7	Direct labour	0.000	0.700	0.700	0.800	0.900	1.000
8	Other manufacturing expenses	0.000	0.000	0.000	0.000	0.000	0.000
9	Selling and distribution expenses	0.000	0.500	0.600	0.700	0.700	0.800
10	General and administrative expenses	0.000	0.300	0.600	1.100	1.200	1.200
	Total	0.000	17.300	19.300	21.600	23.700	24.900
	Profit before Depreciation and Interest	0.000	4.400	4.600	4.600	5.200	5.400
	Interest Cost [Net]	0.000	1.400	1.300	1.100	0.900	0.700
	Profit before Depreciation	0.000	3.000	3.300	3.500	4.300	4.700
	Depreciation	0.000	0.900	0.800	0.600	0.600	0.500
	Profit after Depreciation	0.000	2.100	2.600	2.900	3.700	4.200
	Tax Provision	0.000	0.700	0.800	0.900	1.100	1.300
	Net Profit	0.000	1.500	1.800	2.000	2.600	2.900

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

RATIOS

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimated	Projected	Projected	Projected	Projected	Projected
A	Increase in Sales	0.00%	0.00%	10.00%	10.00%	10.00%	5.00%
B	Profit before Depreciation and Interest to sales	0.00%	20.46%	19.28%	17.57%	17.91%	17.91%
C	Profit before Depreciation to Sales	0.00%	13.81%	13.96%	13.41%	14.76%	15.49%
D	Profit after Depreciation to Sales	0.00%	9.75%	10.80%	10.95%	12.84%	13.92%
E	Net Profit to Sales	0.00%	6.74%	7.46%	7.57%	8.87%	9.62%
F	Cash Profit to Sales	0.00%	10.79%	10.62%	10.03%	10.79%	11.19%

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ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimated	Projected	Projected	Projected	Projected	Projected
1	GROSS SALES
	i) Domestic Sales	0.000	21.700	23.870	26.257	28.883	30.327
	ii) Export Sales	0.000	0.000	0.000	0.000	0.000	0.000
	iii) Others	0.000	0.000	0.000	0.000	0.000	0.000
	TOTAL	0.000	21.700	23.870	26.257	28.883	30.327
2	Less: Excise Duty / VAT	0.000	0.000	0.000	0.000	0.000	0.000
3	NET SALES	0.000	21.700	23.870	26.257	28.883	30.327
	Other Business Income	0.000	0.000	0.000	0.000	0.000	0.000
	TOTAL INCOME	0.000	21.700	23.870	26.257	28.883	30.327
4	%age rise (+) or fall (-) in net sales as compared to previous year	--	--	10.00%	10.00%	10.00%	5.00%
5	COST OF SALES
	i) Raw materials / Goods purchased
	- Imported	0.000	0.000	0.000	0.000	0.000	0.000
	- Indigenous	0.000	14.105	15.516	17.067	18.774	19.713
	ii) Packing Materials
	- Imported	0.000	0.000	0.000	0.000	0.000	0.000
	- Indigenous	--	--	--	--	--	--
	iii) Other Spares
	- Imported	0.000	0.000	0.000	0.000	0.000	0.000
	- Indigenous	0.000	0.000	0.000	0.000	0.000	0.000
	iv) Power and Fuel	0.000	1.628	1.790	1.969	2.166	2.275
	v) Direct Labour	0.000	0.666	0.733	0.806	0.886	0.975
	vi) Other Manufacturing Expenses	0.000	0.000	0.000	0.000	0.000	0.000
	vii) Depreciation	0.000	0.880	0.754	0.647	0.555	0.477
	viii) Sub-total [I to vii]	0.000	17.278	18.793	20.489	22.382	23.439
	ix) Add: Opening stock of WIP	0.000	0.000	0.000	0.000	0.000	0.000
	x) Sub-total	0.000	17.278	18.793	20.489	22.382	23.439
	xi) Less: Closing stock of WIP	0.000	0.000	0.000	0.000	0.000	0.000
	xii) TOTAL COST OF PRODUCTION	0.000	17.278	18.793	20.489	22.382	23.439
	xiii) Add: Opening stock of finished goods	0.000	0.000	0.000	0.000	0.000	0.000
	xiv) Sub-total	0.000	17.278	18.793	20.489	22.382	23.439
	xv) Less: Closing stock of finished goods	0.000	0.000	0.000	0.000	0.000	0.000
	xvi) TOTAL COST OF SALES	0.000	17.278	18.793	20.489	22.382	23.439
	Gross Profit	0.000	4.422	5.077	5.768	6.501	6.888
6	Selling and Distribution Expenses	0.000	0.543	0.597	0.656	0.722	0.758
	General and Administrative Expenses	0.000	0.320	0.632	1.145	1.160	1.176
7	Sub-total [5 + 6]	0.000	18.141	20.021	22.291	24.264	25.373
8	Operating Profit before Interest [3-7]	0.000	3.559	3.849	3.966	4.619	4.954
9	Interest [Gross]	0.000	1.443	1.271	1.091	0.912	0.732
	Interest received	0.000	0.000	0.000	0.000	0.000	0.000
	Interest Net	0.000	1.443	1.271	1.091	0.912	0.732
10	Operating Profit after Interest [8-9]	0.000	2.117	2.578	2.875	3.707	4.222
11	i) Add: Other non-operating income
	a) Profit on sale of F.A. and Investments	0.000	0.000	0.000	0.000	0.000	0.000
	b) Others	0.000	0.000	0.000	0.000	0.000	0.000
	Sub-total (Income)	0.000	0.000	0.000	0.000	0.000	0.000
	ii) Deduct: Other non-operating expenses
	a) Previous years adjustment/ others	0.000	0.000	0.000	0.000	0.000	0.000
	b) Preliminary expenses w/o.	0.000	0.000	0.000	0.000	0.000	0.000
	Sub-total [Expenses]	0.000	0.000	0.000	0.000	0.000	0.000
	(iii) Net of other non-operating incomes/ expenses	0.000	0.000	0.000	0.000	0.000	0.000
12	Profit before Tax/Loss [10 + 11 (iii)]	0.000	2.117	2.578	2.875	3.707	4.222
13	Tax Provision	0.000	0.654	0.797	0.888	1.146	1.305
14	Net Profit/ (Loss) [12 - 13]	0.000	1.463	1.781	1.987	2.562	2.917
15	a) Equity dividend paid	0.000	0.000	0.000	0.000	0.000	0.000
	b) Dividend %	0.000	0.000	0.000	0.000	0.000	0.000
16	Retained Profit [14-15]	0.000	1.463	1.781	1.987	2.562	2.917
17	Retained Profit / Net Profit [%]	0%	100%	100%	100%	100%	100%
	Ratios
	GP / Sales	0.00%	20.38%	21.27%	21.97%	22.51%	22.71%
	PBIT / Sales	0.00%	16.40%	16.12%	15.11%	15.99%	16.34%
	NP / Sales	0.00%	6.74%	7.46%	7.57%	8.87%	9.62%

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

ANALYSIS OF BALANCE SHEET

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimated	Projected	Projected	Projected	Projected	Projected
	CURRENT LIABILITIES
1	Short term borrowings from bank (incl. Bills purchased, discounted & excess borrowings placed on repayment basis)
	(i) From applicant bank	0.000	4.000	4.000	4.000	4.000	4.000
	(ii) From other banks	0.000	0.000	0.000	0.000	0.000	0.000
	(iii) of which BP & BD	0.000	0.000	0.000	0.000	0.000	0.000
	Sub Total (A)	0.000	4.000	4.000	4.000	4.000	4.000
2	Short term borrowings from others	--	--	--	--	--	--
3	Sundry Creditors - Trade	0.000	0.338	0.304	0.335	0.368	0.383
4	Advance payments from customers/deposits from dealers	0.000	0.000	0.000	0.000	0.000	0.000
5	Provision for Taxation	0.000	0.654	0.797	0.888	1.146	1.305
6	Dividend Payable	0.000	0.000	0.000	0.000	0.000	0.000
7	Other statutory liabilities (due within one year)	0.000	0.000	0.000	0.000	0.000	0.000
8	Deposits/Instalments of term loan/ DPGs/ Debentures etc. (due within one year)	0.000	1.217	1.217	1.217	1.217	0.304
9	Other current liabilities & Provisions (due within one year)	0.000	0.000	0.000	0.000	0.000	0.000
	Sub-total (B)	0.000	2.209	2.318	2.440	2.731	1.991
10	TOTAL CURRENT LIABILITIES [Total of 1 to 9]	0.000	6.209	6.318	6.440	6.731	5.991
	TERM LIABILITIES
11	Debentures (not maturing within one year)	0.000	0.000	0.000	0.000	0.000	0.000
12	Preference Shares (redeemable after one year)	0.000	0.000	0.000	0.000	0.000	0.000
13	Deferred Tax liabilities	0.000	0.000	0.000	0.000	0.000	0.000
14	Term loans (excluding instalments payable within one year)	6.085	3.955	2.738	1.521	0.304	0.000
15	Unsecured loan / ICDs	0.000	0.000	0.000	0.000	0.000	0.000
16	Deposit from dealers/ distributors	0.000	0.000	0.000	0.000	0.000	0.000
17	TOTAL TERM LIABILITIES (Total of 11 to 16)	6.085	3.955	2.738	1.521	0.304	0.000
18	TOTAL OUTSIDE LIABILITIES [10+17]	6.085	10.164	9.056	7.961	7.035	5.991
	NET WORTH
19	Share Capital	3.600	5.463	6.244	7.431	8.693	9.610
20	General Reserve	0.000	0.000	0.000	0.000	0.000	0.000
21	Share premium	0.000	0.000	0.000	0.000	0.000	0.000
22	Deferred tax liability	0.000	0.000	0.000	0.000	0.000	0.000
22 (a)	Share Application Money	0.000	0.000	0.000	0.000	0.000	0.000
23	Surplus [+] or Deficit [-] in Profit and Loss Account	0.000	0.000	0.000	0.000	0.000	0.000
24	NETWORTH	3.600	5.463	6.244	7.431	8.693	9.610
25	TOTAL LIABILITIES [18+24]	9.685	15.627	15.300	15.392	15.728	15.601
	ASSETS
	CURRENT ASSETS
26	Cash & Bank balances	1.571	1.250	0.963	0.916	0.942	0.817
27	Investments [other than long term Investments]
	i) Government and other Trustee securities	0.000	0.000	0.000	0.000	0.000	0.000
	ii) Fixed deposits with banks	0.000	0.000	0.000	0.000	0.000	0.000
28	i) Receivables other than deferred and exports [including bills purchased and discounted by bank]	0.000	3.617	3.978	4.376	4.814	5.054
	ii) Export Receivables [including bills purchased and discounted by bank]	0.000	0.000	0.000	0.000	0.000	0.000
29	Instalments of deferred receivables [due within one year]	--	--	--	--	--	--
30	Inventory
	i) Raw materials (including stores and other items in process of manufacture)
	(a) Imported	0.000	0.000	0.000	0.000	0.000	0.000
	(b) Indigenous	0.000	3.526	3.879	4.267	4.694	4.928
	ii) Packing material
	(a) Imported	0.000	0.000	0.000	0.000	0.000	0.000
	(b) Indigenous	0.000	0.000	0.000	0.000	0.000	0.000
	iii) Stock-in-process	0.000	0.000	0.000	0.000	0.000	0.000
	iv) Finished Goods	0.000	0.000	0.000	0.000	0.000	0.000
	v) Other consumable spares
	(a) Imported	0.000	0.000	0.000	0.000	0.000	0.000
	(b) Indigenous	0.000	0.000	0.000	0.000	0.000	0.000
31	Advance payment of taxes	0.000	0.000	0.000	0.000	0.000	0.000
32	Other current assets	0.000	0.000	0.000	0.000	0.000	0.000
34	TOTAL CURRENT ASSETS [Total 26 to 33]	1.571	8.393	8.820	9.559	10.449	10.800
	FIXED ASSETS
35	Gross Block (land & building machinery vehicles work-in-progress)	8.114	8.114	7.234	6.480	5.833	5.278
36	Depreciation to date	0.000	0.880	0.754	0.647	0.555	0.477
37	NET BLOCK	8.114	7.234	6.480	5.833	5.278	4.801
	OTHER NON-CURRENT ASSETS
38	Investments/ book debts / advances deposits which are not current assets
	Investment in others	0.000	0.000	0.000	0.000	0.000	0.000
	i) Investments in Associates Co.	0.000	0.000	0.000	0.000	0.000	0.000
	ii) Others	0.000	0.000	0.000	0.000	0.000	0.000
	iii) Government	0.000	0.000	0.000	0.000	0.000	0.000
39	ICDs	0.000	0.000	0.000	0.000	0.000	0.000
40	TOTAL OTHER NON-CURRENT ASSETS (Total of 38 to 39)	0.000	0.000	0.000	0.000	0.000	0.000
41	Intangible assets (patents, goodwill, prelim, expenses, bad/ doubtful debts not provided for etc.)	0.000	0.000	0.000	0.000	0.000	0.000
42	TOTAL ASSETS (Total of 34, 37, 41 & 41)	9.685	15.627	15.300	15.392	15.727	15.601
43	Tangible Networth (24-42)	3.600	5.463	6.244	7.431	8.693	9.610
44	NET WORKING CAPITAL [(17+24)-(37+41+42)] To tally with (34-10)	1.571	2.184	2.502	3.119	3.719	4.808
45	Current Ratio	0.00	1.35	1.40	1.48	1.55	1.80
46	TOTAL OUTSIDE LIABILITIES / TANGIBLE NETWORTH [18 / 44]	1.69	1.86	1.45	1.07	0.81	0.62
	ADDITIONAL INFORMATION
	A. Arrears of depreciation	--	--	--	--	--	--
	B. Contingent Liabilities:
	(a) Arrears of cumulative dividends	--	--	--	--	--	--
	(b) Gratuity liability not provided for	--	--	--	--	--	--
	(c) Disputed excise/ customs/tax liabilities	--	--	--	--	--	--
	(d) Other liabilities not provided for	--	--	--	--	--	--

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

FUND FLOW STATEMENT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimated	Projected	Projected	Projected	Projected	Projected
A	Inflow of the funds
1	Profit after Depreciation but before Interest and Tax	0.000	3.600	3.800	4.000	4.600	5.000
	Add: Depreciation	0.000	0.900	0.800	0.600	0.600	0.500
	Total	0.000	4.400	4.600	4.600	5.200	5.400
2	Increase in Capital/ Reserves and Surplus	3.600	0.400	(1.000)	(0.800)	(2.000)	(2.500)
3	Increase in Term Loan	6.100	(0.900)	(1.200)	(1.200)	(1.200)	(1.200)
4	Reduction in Investment	0.000	0.000	0.000	0.000	0.000	0.000
5	Increase in Bank Borrowings	0.000	4.000	0.000	0.000	0.000	0.000
6	Increase in Current Liabilities	0.000	1.000	0.100	0.100	0.300	0.200
7	Decrease in Debtors	0.000	(3.600)	(0.400)	(0.400)	(0.400)	(0.200)
8	Decrease in Other Current Assets	0.000	0.000	0.000	0.000	0.000	0.000
	TOTAL [A]	9.700	5.300	2.100	2.300	2.500	2.100
B	Application of Fund
1	Interest Payment	0.000	1.400	1.300	1.100	0.900	0.700
2	Tax Payment	0.000	0.700	0.800	0.900	1.100	1.300
3	Increase in Fixed Assets	8.100	0.000	0.000	0.000	0.000	0.000
-	Interest in Fixed Assets [New Projects]	0.000	0.000	0.000	0.000	0.000	0.000
4	Increase in Current Assets
-	Inventories	0.000	3.500	0.400	0.400	0.400	0.200
5	Reduction in unsecured loan	0.000	0.000	0.000	0.000	0.000	0.000
6	Increase in Misc. Expenditure not w/off	0.000	0.000	0.000	0.000	0.000	0.000
-	Others	0.000	0.000	0.000	0.000	0.000	0.000
	TOTAL [B]	8.100	5.600	2.400	2.400	2.500	2.300
C	Net Inflow/ Outflow [A - B]	1.600	(0.300)	(0.300)	0.000	0.000	(0.100)
D	Opening Balance of cash and bank balance	0.000	1.600	1.300	1.000	0.900	0.900
E	Closing balance of cash and bank balance	1.600	1.300	1.000	0.900	0.900	0.800

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

COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimated	Projected	Projected	Projected	Projected	Projected
	A. CURRENT ASSETS
1	Raw material
	(a) Imported	0.000	0.000	0.000	0.000	0.000	0.000
	Months Consumption	0.00	0.00	0.00	0.00	0.00	0.00
	(b) Indigenous	0.000	0.000	0.000	0.000	0.000	0.000
	Months Consumption	0.00	0.00	0.00	0.00	0.00	0.00
2	Packing material
	(a) Imported	0.000	0.000	0.000	0.000	0.000	0.000
	Months Consumption	0.00	0.00	0.00	0.00	0.00	0.00
	(b) Indigenous	0.000	0.000	0.000	0.000	0.000	0.000
	Months Consumption	0.00	0.00	0.00	0.00	0.00	0.00
3	Other consumable stores and spares
	(a) Imported	0.000	0.000	0.000	0.000	0.000	0.000
	Months Consumption	0.00	0.00	0.00	0.00	0.00	0.00
	(b) Indigenous	0.000	0.000	0.000	0.000	0.000	0.000
	Months Consumption	0.00	0.00	0.00	0.00	0.00	0.00
4	Stock in process	0.000	0.000	0.000	0.000	0.000	0.000
	Months cost of production	0.00	0.00	0.00	0.00	0.00	0.00
5	Finished Goods	0.000	0.000	0.000	0.000	0.000	0.000
	Months cost of sales	0.00	0.00	0.00	0.00	0.00	0.00
6	Receivables [Domestic]	0.000	3.617	3.978	4.376	4.814	5.054
	Months domestic sales	--	2.00	2.00	2.00	2.00	2.00
7	Export receivables	0.000	0.000	0.000	0.000	0.000	0.000
	Months export sales	0.00	0.00	0.00	0.00	0.00	0.00
8	Advances to suppliers of raw packing material and stores / spare consumables	0.000	0.000	0.000	0.000	0.000	0.000
9	Outstanding credit under leases	0.000	0.000	0.000	0.000	0.000	0.000
10	Other current assets
	Others	0.000	0.000	0.000	0.000	0.000	0.000
	Cash and Bank Balances	1.571	1.250	0.963	0.916	0.942	0.817
	TOTAL CURRENT ASSETS	1.571	8.393	8.820	9.559	10.449	10.800
	[To agree with 34 in form III]
	B. CURRENT LIABILITIES [Other than bank borrowings for working capital]
11	Creditors for purchase of raw materials, store and consumable spares	0.000	0.338	0.304	0.335	0.368	0.383
	Months purchases	7 Days	7 Days	7 Days	7 Days	7 Days	7 Days
12	Short term borrowings from others	0.000	0.000	0.000	0.000	0.000	0.000
13	Statutory liabilities [Provision for tax]	0.000	0.654	0.797	0.888	1.146	1.305
14	Other current liabilities
	i) Dividend payable	0.000	0.000	0.000	0.000	0.000	0.000
	ii) Installments of term loans	0.000	1.217	1.217	1.217	1.217	0.304
	iii) Others	0.000	0.000	0.000	0.000	0.000	0.000
15	TOTAL CURRENT LIABILITIES	0.000	2.209	2.318	2.440	2.731	1.991
	[To agree with subtotal in form III]

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

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
		Estimated	Projected	Projected	Projected	Projected	Projected
1	Total Current Assets (Form IV)	1.571	8.393	8.820	9.559	10.449	10.800
2	Other Current Liabilities (other than bank borrowings) (14 of Form IV)	0.000	2.209	2.318	2.440	2.731	1.991
3	Working Capital Gap (WCP) (1-2)	1.571	6.183	6.502	7.119	7.718	8.808
4	Minimum stipulated net working Capital - 25% of total current assets as the case may be depending upon the method of lending being applied [Export receivables to be excluded under both methods]	0.393	2.098	2.205	2.390	2.612	2.700
5	Actual/projected net working capital (45 in form III)	1.571	2.183	2.502	3.119	3.718	4.808
6	Item 3 minus item 4	1.178	4.085	4.297	4.729	5.106	6.108
7	Item 3 minus item 5	0.000	4.000	4.000	4.000	4.000	4.000
8	Maximum permissible bank finance (item 6 or 7 whichever is less)	0.000	4.000	4.000	4.000	4.000	4.000
9	Excess borrowings, if any representing short fall in NWC (4-5)	0.000	0.000	0.000	0.000	0.000	0.000

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

NETWORTH STATEMENT

MR. BHAVESH RATILAL PATEL

(RS. IN MILLIONS)

BANK ACCOUNT

Bank	Branch	S/B C/D A/C No.	Present Balance
ICICI Bank	Surendranagar	045301502797	0.001

DETAILS OF ASSETS

IMMOVABLE PROPERTY

Assets	Own / Joint name	Area	Property/ Survey No.	Location/ address	Purchase Cost	Present Value
Agriculture Land	Own	3-03-52 Sq. Mts.	288	Kherva	0.660	4.400

MOVABLE PROPERTY

INSURANCE POLICIES

Name of Company & Branch	Policy No	Dt. of issue	Sum assured	Annual premium
LIC	819453413	23.02.2013	0.100	0.006

VEHICLES

Type of Vehicle	Registration No.	Model	Year of make	Cost at time of Purchase	Present Value
Pleasure Hero Honda	GJ 13 HH 8554	2012	2012	0.030	0.030

JEWELLERY

Particulars	Quantity	Valuation [Approx.]
Gold	250	0.625
Silver	400	0.020

LEGAL HEIRS / FAMILY PARTICULARS

Name	Occupation	Relation	Age	Marital Status	Address
Mrs. Sharmishtaben B. Patel	Housewife	Wife	29	Married	Umiya Township, New 80 feet Road, Wadhwan, Surendranagar – 363002, Gujarat, India
Mr. Jashna B. Patel	Study	Son	3	Unmarried	Umiya Township, New 80 feet Road, Wadhwan, Surendranagar – 363002, Gujarat, India

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

NETWORTH STATEMENT

MRS. KAILASHBEN ARVINDBHAI PATEL

(RS. IN MILLIONS)

BANK ACCOUNT

Bank	Branch	S/B C/D A/C No.
Bank of India	Ghuma	205610110002844

DETAILS OF ASSETS

MOVABLE PROPERTY

INSURANCE POLICIES

Name of Company & Branch	Policy No	Dt. of issue	Sum assured	Surrender Value	Annual premium
LIC	819437514	15.02.2010	0.100	0.020	0.002

JEWELLERY

Particulars	Quantity	Valuation [Approx.]
Gold	300	0.725
Silver	800	0.040

LEGAL HEIRS / FAMILY PARTICULARS

Name	Occupation	Relation	Age	Marital Status	Address
Mr. Arvindbhai N. Patel	Business	Husband	36	Married	C/3 302, lscon Flower Apartment, Near Lal Gebi Ashram Bopal, Ghuma Road, Bopal, Ahmedabad - 380060, Gujarat, India
Mr. Vishv A. Patel	Study	Son	8	--	C/3 302, lscon Flower Apartment, Near Lal Gebi Ashram Bopal, Ghuma Road, Bopal, Ahmedabad - 380060, Gujarat, India
Ms. Disha A. Patel	Study	Daughter	11	--	C/3 302, lscon Flower Apartment, Near Lal Gebi Ashram Bopal, Ghuma Road, Bopal, Ahmedabad - 380060, Gujarat, India

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

NETWORTH STATEMENT

MR. KRUPESH BHARATBHAI MOTKA

(RS. IN MILLIONS)

BANK ACCOUNT

Bank	Branch	S/B C/D A/C No.
Bank of India	Ghuma	205610110002847

DETAILS OF ASSETS

MOVABLE PROPERTY

JEWELLERY

Particulars	Quantity	Valuation [Approx.]
Gold	50	0.125

LEGAL HEIRS / FAMILY PARTICULARS

Name	Occupation	Relation	Age	Marital Status	Address
Mr. Bharatbhai Motka	Business	Father	40	Married	330, Patel Was Harijan Weas, Old and New Mota, Ankevalia, Taluka Dhrangadhara, Surendranagar - 363340, Gujarat, India
Mrs. Dakshaben B. Motka	Housewife	Mother	39	Married	330, Patel Was Harijan Weas, Old and New Mota, Ankevalia, Taluka Dhrangadhara, Surendranagar - 363340, Gujarat, India
Mr. Jay Bharatbhai Motka	Study	Brother	16	--	330, Patel Was Harijan Weas, Old and New Mota, Ankevalia, Taluka Dhrangadhara, Surendranagar - 363340, Gujarat, India

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

NETWORTH STATEMENT

MR. VISHALKUMAR JAGJIVANBHAI MAHAKANA

(RS. IN MILLIONS)

BANK ACCOUNT

Bank	Branch	S/B C/D A/C No.
Saurastra Gramin Bank	Jasapar	78009370858

DETAILS OF ASSETS

MOVABLE PROPERTY

INSURANCE POLICIES

Name of Company & Branch	Policy No	Dt. of issue	Sum assured	Surrender Value	Annual premium
LIC	819422549	28.04.2008	0.100	0.017	0.003

JEWELLERY

Particulars	Quantity	Valuation [Approx.]
Gold	100	0.250
Silver	100	0.005

LEGAL HEIRS / FAMILY PARTICULARS

Name	Occupation	Relation	Age	Marital Status	Address
Mr. Jagjivanbhai Mahakana	Employee	Father	42	Married	As per Applicant
Mrs. Kailashben J. Mahakana	Housewife	Mother	41	Married	As per Applicant

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

NETWORTH STATEMENT

MR. VINODBHAI NANJIBHAI PATEL

(RS. IN MILLIONS)

BANK ACCOUNT

Bank	Branch	S/B C/D A/C No.
Bank of Baroda	Bamroli Road Branch	51960100001973

DETAILS OF ASSETS

IMMOVABLE PROPERTY

Assets	Own / Joint name	Area	Property/ Survey No.	Location/ address	Purchase Cost	Present Value
Agriculture Land	Joint	0-80-94 Sq. Mt.	289/2	Malvan, Dasada	0.100	3.000
Agriculture Land	Joint	3-13-63 Sq. Mt.	290	Malvan, Dasada	0.300	9.000

MOVABLE PROPERTY

INSURANCE POLICIES

Name of Company & Branch	Policy No	Dt. of issue	Sum assured	Annual premium
LIC	819385599	28.12.2003	0.100	0.003

JEWELLERY

Particulars	Quantity	Valuation [Approx.]
Gold	150	0.375
Silver	250	0.013

LEGAL HEIRS / FAMILY PARTICULARS

Name	Occupation	Relation	Age	Marital Status	Address
Mrs. Ritaben Vinodbhai Patel	Housewife	Wife	36	Married	As per Applicant
Ms. Zinkal V. Patel	Study	Daughter	11	--	As per Applicant
Mr. Prit V. Patel	Study	Son	7	--	As per Applicant

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

SECURITIES OFFERED

[RS. IN MILLIONS]

SR. NO.	PARTICULARS
1	Primary Securities Offered [For Term Loan Finance]	Plant and Machineries for which the Term Loan has been obtained.
2	Collateral Security Offered	Factory Land and Building situated Plot No. 55/4, Panchratna Industrial Estate, B/h: Laxminarayan Petrol Pump, Opposite Prabhat Battery, Changodar Ahmedabad fair market value of Rs. 5.753 Millions for Machinery and Rs. 3.500 Millions for Land and Building.

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

PROJECT REPORT

ABOUT THE FIRM

Subject is a Partnership Firm has started new unit of manufacturing of PP Spun Filter for RO Machines used in removing dust and sand from water and purified water. It is used in widely for home used and industrial use and Agriculture where Water Purified System i.e RO System used.

They are dedicated to the belief that client are their most important asset. Whatever the nature of the challenge, whether meeting the quality assurance needs of their customers, it is their passionate, committed and empowered product which ultimately makes the difference. One key to building trust is being transparent in the way they communicate with others, and by providing timely and accurate information.

Their long lasting team-work, emotions and healthy relationship with workers shows development and consistency of their product.

PRODUCT PROFILE

The Firm makes the product as per the customer's desire and demand and on the basis of mass production schedule. The firm is in the production of PP Spun Filter Cartridge to be used in process of cleaning dust and sand in water in RO system. It works as primary purifier of water in RO System.

They hereby prescribe the process of manufacturing of PP Spun Filter Cartridge.

For Manufacturing PP Spun Filter Cartridge they import Machinery for China name as PP Melt blow filter cartridge production line. Manufacturing process is divided into seven steps as listed below:

Step 1: Screw air compressor will compress air according as set default 0.5-0.7 Mpa.

Step 2: Air tank will store compressed air. There is a pipe line between air tank and air heating machine. Air will flow into air heating machine. There is water in air when where is rain. Air tank also could filter water. It could avoid there will be rush inside of machine, Because air will flow into air heating machine and moulds at last.

Step 3: Air heating machine will heat these air. There are 3 sets of heating system for 3 sets of moulds/ nozzls. You could adjust it and keeping air pressure 0.2 MPA or 0.25 MPA for each mould/nozzle. Large controller it.

Step 4: Automatic feeder will feed PP material into extruders automatically. PP material granule will become liquid PP inside of extruders automatically. The screw rod inside extruder will move the liquid PP forward automatically. Large controller control it too. You could feed different raw material into each extruder. Then every layer’s will be different.

Step 5: You know there are 3 sets of moulds/nozzles on 3 sets of extruders. Hot air from air heating machine connects moulds/nozzle. Then Hot air blow liquid PP material, then Moulds/Nozzles will spry PP fiber.

Step 6: PP fiber will form PP filter cartridge on receiver device. Small controller control receiving system.

Step 7: Automatic cutting machine will cut PP filter cartridge automatically as the requirement. You could set the length as 10", 20"..." As you need.

MATERIAL REQUIRED

Poly Propylene Granules [Fibber Grade]

Power Fuel and Water Required:

88KW power required which is available from UGVCL. Unit is not required any other kind of fuel for operation of unit. Water connection is freely available from GIDC and also unit has dig one tube well also.

Required Man Power:

Total operator required 4 and other staff 4 required.

Marketing:

Their product is widely used in R O System as primary purifier by removing dust and sand from water. It increases life of membrane in RO System. It is required to change in every there month in RO System. Due to this features it has wide market in house hold and industrial sector.

For marketing their product they have follow the following policies

They have approach retails who servicing RO system. For approaching them they appoint marketing staff. They give them incentive for attract them.

They give advertisement in different kind of advertisement media like newspaper, brochure, banners, etc.

PROPOSED REPAYMENT SCHEDULE

The loan is proposed to be repaid as under:

Term Loan of Rs.6.085 Millions for Machinery in 60 monthly equal installments.

An initial moratorium of 5 months from the date of initial disbursement of MTL finance is proposed. During moratorium period, interest, as may be accrued, will be serviced.

PROJECT FINANCIAL INFORMATION

The Firm is proposed to ensure funding of new project of Rs. 8.114 Millions by Term Loan of Rs. 6.085 Millions and balance from Internal Accrual and Partner's Capital.

1. COST OF PROJECT

PARTICULARS	RS. IN MILLIONS
Machinery
Indigenous	0.000
Imported	3.596
Add Custom Duty (27%)	0.971
Add Transportation [Approx.]	0.200
GEB [Approx.]	0.600
Total Plant and Machinery	5.367
Land	1.450
Building	1.297
Total Cost of Project	8.114

2. MEANS OF FINANCE

PARTICULARS	RS. IN MILLIONS
Partner's Capital / Internal Accrual
Internal Accrual / Partner's Capital	2.029
Total Partner's Capital/Internal Accrual
Long/Medium Term Borrowing
Term Loan	6.085
Total Long/Medium Term Borrowings
Total Means of Finance	8.114

3. FIXED ASSETS COVERAGE RATIO

A, Primary	RS. IN MILLIONS
(a) Hypothecation of stock and book debts (31.03.2016)	3.526
(b) Hypothecation of proposed plant and machineries	5.367
Total (A)	8.893
B. Collateral
Plot No 55/4, Panchratna Industrial Estate, B/h : Laxminarayan Petrol Pump, Opposite Prabhat Battery, Changodar Ahmedabad	2.747
Total (B)	2.747
Total Securities Available (A+B)	11.640
F.B + N.F.B limits (Proposed)	10.085
Security Coverage Ratio	1.15
Fixed Asset Coverage Ratio (FACR) (8.114 / 6.085)	1.33
Collateral Security Coverage Ratio	0.45

4. INSTALLED CAPACITY AND UTILISATION AND BREAK EVEN SALES

PARTICULARS	2015-16	2016-17	2017-18	2018-19	2019-20
Installed capacity (in Nos. (in thousands) of unit per annum)	1550	1550	1550	1550	1550
Capacity utilization (in %)	70	77	85	93	98
No. of Months Working	12	12	12	12	12
Production (in Nos. (Thousands) per annum)	1085	1193.5	1312.85	1444.13	1516.35
Selling price per Nos.	20	20	20	20	20
Manufacturing Total Sales (Thousand)	21700	23870	26257	28883	30327
Total Variable cost per unit	15	15	15	15	15
Total Fixed Cost per Unit (Thousand)	3309	3390	3689	3513	3360
Nos. of Unit for BES	661800	678000	7378000	702600	672000

Explanation:

1) Change in Fixed Cost: Fixed Cost includes cost of Wages, other operative expense and Depreciation charges and interest paid on loan. During the year 2015-16 Depreciation Charges amounting Rs.0.880 Million which reduced in the year 2016-17 by Rs. 0.126 Million. lt will further reduce and reduce. Hence fixed cost is reduced marginally. And also other fixed cost like interest etc. also reduced.

2) Variable Cost: Variable cost includes Material Cost, Electricity Cost and Packing Material Cost. During Projection it is assume that if variable cost are increase then in same ration selling cost also increase hence there is no change in break-even sales.

5. SWOT ANALYSIS

Strengths

· High technology plant

· Experienced and capable promoters

· Location advantages- situated in North Gujarat, which is adjutant to Rajasthan where the raw material is easily available. Most of the units are located in North Gujarat and Rajasthan

· Experience in development of dealers/distributor network

Weaknesses

· Competitive market

· Prices of raw materials and finished goods are volatile. The partners have to keep constant watch on this.

Opportunities

· Growing market, there are good/available markets for this product in India and abroad including export opportunity.

· Increasing trend of industry and customer base consumption

Threats

· Indigenous competition for the product,

6. SENSIVITY ANALYSIS

Their product is mainly used in household and industries and in agriculture, When price of raw material increase by 5 o/o then we are able to divert this increase of cost to their selling price and their margin remains same. Hence there is no change in their revenue estimate as per recent market trend. Their argument supported on basis of following logic.

A) Increase in RM Price upto 10%

1) In RO system their product function as first purifier

2) Compulsory these is changed in interval of 2-3 months. If it is not changed then it affect the RO machine due to this there is change of damage of RO machine system

3) Their product selling price in retail market is between Rs 50 to Rs. 80. So it can be easily absorb increase in selling price by 5 to 10 %. Their whole sale price is around Rs. 20 per unit. Suppose there is increase in material cost by 10% then their cost is increase by Rs.1.3 per unit. This increase is easily diverted in selling price and increases their selling price by Rs.21.3 per unit.

Now this increase is reduced the margin of retails by Rs. 1.3 per unit against the margin of Rs. 30 to 50, These is easily absorbed by market.

B) Increase in RM Price by 50% or more.

As above discussion their product is inelastic product hence change in price does not affect the demand of product. Their argument supported by following logic and argument.

1) Cost or RO machine is around Rs, 5000 to 25000 in house hold, Rs. 100000 or more in industries and agriculture RO.

2) In respect of their product is used in RO as accessories in it. It is better to pay a sum of Rs.480 per annum (4 time change X Rs. 120 per unit)

3) Form above simple logic it is cleared that increase in market price will not adversely affected their product demand and supply hence their product is less sensitive compare to other product in market.

7. IRR

FINANCIAL YEAR	NET INFLOW OR OUTFLOW
2014-15	-8.114
2015-16	1.662 (NP 1.463 + Partner Remuneration 2)
2016-17	2.291 (NP 1.781 + Partner Remuneration 5)
2017-18	3.003 (NP 1.987 + Partner Remuneration 10)
2018-19	3.584 (NP 2.562 + Partner Remuneration 10)
2019-20	3.945 (NP 2.917 + Partner Remuneration 10)
2020-21	4.195 (NP 2.695 + Partner Remuneration 15)

Form above information IRR of Firm Comes to 25%.

GOVERNMENT SUPPORT

To encourage industrialization the Governments provides following incentives and reliefs to the proposed project.

The Ministry of Micro, Small and Medium Enterprises [MSME] is operating a scheme for technology upgradation called, Credit Linked Capital Subsidy Scheme [CLCSS]. Under the Scheme, capital subsidy at 15% of value of plant and machinery is provided on loans upto Rs. 10.000 Millions. The Subsidy is provided to Micro and Small Enterprises across the Country for purchase of plant and machinery in the specified products groups / technologies approved under the Scheme.

Interest subsidy of up to 7% on term loan borrowed.

PROJECT IMPLEMENTATION SCHEDULE

The machineries will be installed in the month of March, 2015 and commercial production will be started from the month of April, 2015. They will take disbursement from the loan from November, 2014.

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

VALUATION REPORT

(GENERAL DETAILS)

Purpose for which valuation is made

To ascertain fair market value of the property

Date as on which valuation is made

17.12.2014

Name of the Owners

Sahjanand Polymers

Partner: Mr. Bhaveshkumar Ratilal Patel

[Subject to Title Clearance]

It the property is under Joint Ownership/ Co Ownership Share of each such owner. Are the shares undivided?

Joint Ownership

Brief description of the property

· There is Industrial open plot situated at Mouje: Changodar at Tal. Sanand at Ahmedabad City.

· The property is under construction work.

Location, Street, Ward No.

Plot No. 55/4, Panchratna Industrial Estate, B/h. Laxmi Narayan Petrol Pump, Opposite Prabhat Battery, Sarkhej-Bavla Highway at Mouje: Changodar, Tal. Sanand, District Ahmedabad – 382213.

Survey/Plot No. of Land

Panchratna Industrial Estate

Khata No.	2108
Sub Plot No.	55/4 Paiki
Survey No.	288 Paiki
Final Plot No.	--
T.P.S. No.	--
Muni. Tenement No.	--
Ward Name	--
Mouje	Changodar
Taluka	Sanand
District	Ahmedabad

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

Industrial Area

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

--

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

Within 5.0 to 10.0 Km

Means and proximity to surface communication by which the locality served.

By Bus, Auto rickshaw and Private Vehicle.

LAND

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

Shape of the plot	Trapezoid Shape
North	Land of Sub Plot No. 53/3
South	Land of Sub Plot No. 55/4 paiki
East	Land of Block No. 297
West	Estate Road

Shape of the plot	Trapezoid Shape
North	Road and Block No. 288 paiki [NEON Industries]
South	Block No. 295 [Samip Composite Private Limited]
East	Land of Block No. 288 paiki
West	Land of Block No. 288 paiki

Roads, streets or lanes on which land is abutting

Ahmedabad – Bavla Highway

Is it freehold or leasehold land?

--

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

· Initial premium

· Ground rent payable per annum

· Unearned increase payable to the lessor in the event of the covenant.

--

--

--

Is there any restrictive covenant in regard to use of land? If so

--

Are there any agreements of easements? If so

--

Does the land fall in an area included in any Town planning Scheme any development plan of Government or any statutory body? If so, Give Particulars

--

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

--

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

No

IMPROVEMENT

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

Furnished

· Is the building owner-occupied/ tenanted/ both?

· If party owner-occupied, Specify portion and extent of Area under – occupation.

Owner-occupied

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

F.S.I. = 1:1, Utilize = 50% [Approx.]

RENTS

· Name of tenants/ lessees/ license etc.

· Portions in their occupation.

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

· Gross amount received for whole property.

Not Applicable

Are any of the occupants related to or close business Associates of the owner?

Not Applicable

Is separate amount being recovered for 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, if any, to be borne by the owner.

Maintenance cost bear by the owners.

Has the tenant to bear the whole part of the cost of Repairs and maintenance? Give particulars.

Not Applicable

If a life is installed, who has to bear the cost of maintenance and operation – owner or tenants?

Not Applicable

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

Cost will be bear by the Owner.

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

Maintenance cost bear by owners.

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

Not Applicable

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

Details not obtain by owner.

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

Not Applicable

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

Not Applicable

SALES

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

Sale instances are not available.

Land rate adopted in this valuation.

Rs. 10000/- per Sq. yd.

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

As per recent market rate and local inquiry.

COST OF CONSTRUCTION

Year of commencement of construction and year of completion.

The property is under construction.

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

Not Applicable

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

Not Applicable

For items of work done by engaging labor directly, give basic rates of materials and labor supported by documentary proof.

Not Applicable

PART II – VALUATION

This valuation is done to ascertain the marketable value of the property and it is done by LAND AND BUILDING AREA METHOD. To ascertain the rate of land prevailing in the vicinity area, an inquiry was done and as per The fair market rate. The average rate of land is Rs.10000/- per Sq. yd. The construction cost is net of applicable. Depreciation after considering the age of property.

AREA AS PER DOCUMENT:

· Total Land Area = 391.00 Sq. Mt. = 467.64 Sq. yd.

· Proposed built up Area of Ground Floor = 112.78 Sq. Mt. = 134.88 Sq. yd.

AREA AS PER SITE MEASUREMENT:

· Total Land Area = ([Avg.] 17.55 Mt. x 21.12 Mt.) = 370.66 Sq. Mt. = 443.30 Sq. yd.

· Under Construction Area = ([Avg.] 15.55 Mt. x 17.12 Mt.) = 266.22 Sq. Mt. = 318.39 Sq. yd.

VALUATION

TOTAL LAND VALUE OF PROPERTY IN YEAR 2014 A.D.

No.	Description of Area	Area in Sq. Mt and Sq. yd.	Rate per Sq. yd.	Total Amount
1.	Total Land Area	391.00 Sq. Mt. = 467.64 Sq. yd.	Rs. 10000/-	Rs. 4.676 Millions
	TOTAL LAND VALUE			RS. 4.676 MILLIONS

Depreciation: The Rate of the space is derived deduction appropriate depreciation.

TOTAL VALUE OF THE LAND PROPERTY: RS. 4.676 MILLIONS

TOTAL VALUATION OF LAND PROPERTY AS ON DATE: 17^TH DECEMBER, 2014 IS RS. 4.676 MILLIONS ONLY.

CALCULATION AS PER JANTRY

Total Land Area of the property [467.64 Sq. yd.]	391.00 Sq. Mt.
Jantry Rate of total land area of the property in 2014	Rs. 3332/- Sq. Mt.
Jantry Value [391.00 x 3332]	Rs. 1.303 Millions

TOTAL JANTRY VALUE OF THE LAND PROPERTY = RS. 1.303 MILLIONS.

MARKET VALUE	RS. 4.676 MILLIONS
REALIZABLE VALUE [80%]	RS. 3.741 MILLIONS
DISTRESS VALUE [70%]	RS. 3.273 MILLIONS
JANTRY VALUE	RS. 1.303 MILLIONS

TECHNICAL DETAILS

No of floors and height of each floor

4.25 Mt. Height

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

Proposed Area of Ground Floor = 112.78 Sq. Mt. = 134.88 Sq. yd.

Under Construction area = 266.22 Sq. Mt. = 318.39 Sq. yd.

Year of Construction

The property is under construction.

Estimated future life

60 Years

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

RCC Frame Structure

Type of foundations

Brick and RCC Footing foundation.

Walls

· Basement and plinth

· Ground Floor

· Super structure above ground floor

23 c. m. wall

--

--

Partitions

11 c. m. wall

Doors and Windows (Floor-Wise)

· Ground Floor

· First floor

· Second floor etc.

Door of steel frame and shutter and rolling shutter.

Flooring (Floor-wise)

· Ground Floor

Good quality of kotah stone flooring in all area of the property.

Finishing (Floor-wise)

· Ground Floor

· First floor

· Second floor etc.

Inside and Outside finish plaster with white wash.

Roofing and Terracing

RCC slab finish with parapet wall.

Special architectural or decorative features, if any

--

· Internal Wiring – surface or conduit

· Class of fitting: superior/ ordinary/ poor

Open and Concealed

Superior/ Ordinary/ Poor class fitting

Sanitary Installations

· No. of Water closets

· No. of lavatory basins

· No. of urinals

· No. of sinks

· No. of bath tubs

· No. of bedets

· No. of geysers

· Class of fittings: Superior colored/ Superior white/ Ordinary

1 Nos.

NA

NA

NA

NA

NA

NA

Superior colored/ superior white/ ordinary class of fittings.

Compound Wall

· Height and length

· Type of construction

Surrounding the property.

No of lift and capacity

Not Available

Underground pump – capacity and type of construction

Available with required capacity.

Overhead tank

· Where located

· Capacity

· Type of construction

Available with required capacity.

Pump - and their horse power

Available with required capacity.

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

Road and Parking facility in the property.

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

Drainage system by Soak well / Septic Tank.

NOTE: As per above specification and proposed plan, estimate of construction as per below Estimate of Proposed Factory Building: [As per Proposed plan]

No.	Description of Area	Area in Sq. Mt.	Jantry Rate per Sq. Mt.	Total Amount
1.	Built up Area of Ground Floor	112.78 Sq. Mt.	Rs. 11500/-	Rs. 1.297 Millions
	ESTIMATE OF PROPOSED BUILDING CONSTRUCTION			RS. 1.297 MILLIONS

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

VALUATION REPORT

(GENERAL DETAILS)

Name of Registered Valuer

D.K. Selarka – 9824943280

B.E. [Civil] M.I.E. [C.E.], F.I.V. [L.M.]

Purpose for which valuation is made

For Security against finance from Bank of India – Changodar Branch, Ahmedabad.

Date as on which valuation is made

As on 28.01.2015

Name of the Owner

Mr. Bhaveshkumar Ratilal Patel

It the property is under Joint Ownership/ Co Ownership Share of each such owner. Are the shares undivided?

Not Applicable

Brief description of the property

A shop in a complex at G.F. without F.F. right.

Location, Street, Ward No.

B/h Krishna Colour lab., Dr. Vanecha Hospital Street connoting main road, Opposite Gatrad Offset, Near and before Swami Vivekanand College, Surendranagar.

Survey/Plot No. of Land

C.S. No. 4009/G/110, R.S. No. 1723, Plot No. 120.

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

Commercial Area

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

High Class

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

All from 0.50 to 3 Km.

Means and proximity to surface communication by which the locality served.

Private vehicles used

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

Shop area = 8.99 Sq. Mt.

= 96.73 Sq. ft.

Plot Boundaries

North

South

East

West

3.05 Mt. – Plot No. 121

3.05 Mt. – Shop of Patel Arvindbhai

2.95 Mt. – Plot No. 107.

2.95 Mt. – Road connecting Main Road.

Town Services to Property

--

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

· Initial premium

· Ground rent payable per annum

· Unearned increase payable to the lessor in the event of the covenant.

Not Applicable

--

--

--

Is there any restrictive covenant in regard to use of land? If so

Not Applicable

Are there any agreements of easements? If so

Not Applicable

Does the land fall in an area included in any Town planning Scheme any development plan of Government or any statutory body? If so, Give Particulars

Not Applicable

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

Not Applicable

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

Not Applicable

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

Furnished

· Is the building owner-occupied/ tenanted/ both?

· If party owner-occupied, Specify portion and extent of Area under – occupation.

Occupied by owner

Not Applicable

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

F.S.I. calculation not given in approved plan.

· Name of tenants/ lessees/ license etc.

· Portions in their occupation.

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

· Gross amount received for whole property.

Not Applicable

Not Applicable

Not Applicable

Not Applicable

Are any of the occupants related to or close business Associates of the owner?

Not Applicable

Is separate amount being recovered for 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, if any, to be borne by the owner.

Not Applicable

Has the tenant to bear the whole part of the cost of Repairs and maintenance? Give particulars.

Not Applicable

If a life is installed, who has to bear the cost of maintenance and operation – owner or tenants?

Not Applicable

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

Not Applicable

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

Not Applicable

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

Not Applicable

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

Not Applicable

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

Not Applicable

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

Not Applicable

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

Sale instances not available.

Land rate adopted in this valuation.

Rs. 13000/- per Sq. Mt.

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

On the basis of local survey and inquiry.

Year of commencement of construction and year of completion.

2000

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

Details not furnished. The present owner has not constructed this building.

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

Not Applicable

For items of work done by engaging labor directly, give basic rates of materials and labor supported by documentary proof.

Not Applicable

VALUATION CALCULATION

Value of Shop

96.33 Sq. ft. x Rs. 13000/- per Sq. ft.

Rs. 1.219 Millions

Present Market Value	Rs. 1.219 Millions
Distress Sale Value at 80%	Rs. 1.097 Millions
Value for registration of sale deed as per prevailing stamp duty A.S.R. 8.99 Sq. Mt. x Rs. 14250/-	Rs. 0.128 Million

TECHNICAL DETAILS

No of floors and height of each floor

G.F. and F.F. [Owner’s possession only a shop at G.F.]

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

Shop area = 08.99 Sq. Mt.

= 96.73 Sq. Ft.

Year of Construction

2000

Estimated future life

50 Years

Type of Construction

RCC Frame Structure

Type of foundations

RCC Footings

· Plinth

· Ground Floor

· Super structure above ground floor

U.C.R. Masonry

Brick Walls

--

Partitions

--

Doors and Windows (Floor-Wise)

· Ground Floor

· First floor

· Second floor

Rolling Shutter

Flooring (Floor-wise)

· Ground Floor

· First floor

· Second floor

Ceramic Tiles

Finishing (Floor-wise)

· Ground Floor

· First floor

· Second floor

Distemper to walls

Roofing and Terracing

RCC Slab

Special architectural or decorative features, if any

Not Applicable

· Internal Wiring – surface or conduit

· Class of fitting: superior/ ordinary/ poor

Open Surface wiring

--

Sanitary Installations

Provided

Class of fittings Superior/ Ordinary / Poor

Provided

Compound Wall

· Height and length

· Type of construction

As per Plan

--

--

No of lift and capacity

Not Applicable

Underground pump – capacity and type of construction

Not Applicable

Overhead tank

· Where located

· Capacity

· Type of construction

Not Applicable

Not Applicable

Not Applicable

Pump - and their horse power

Not Applicable

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

Not Applicable

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

Not Applicable

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. 61.96
UK Pound	1	Rs. 94.41
Euro	1	Rs. 70.20

INFORMATION DETAILS

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

RATING EXPLANATIONS

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

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

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