MIRA INFORM REPORT

Report No. :	300212
Report Date :	05.01.2015

IDENTIFICATION DETAILS

Name :	JAY COPPER AND ALLOYS PRIVATE LIMITED
Registered Office :	Block No. 2219, Near Shah Alloys Limited, Village Santej, Taluka Kalol, Santej – 382043, Gujarat
Country :	India
Financials (as on) :	31.12.2014 (Provisional)
Date of Incorporation :	16.06.2009
Com. Reg. No.:	04-057272
Capital Investment / Paid-up Capital :	Rs. 15.000 Millions
CIN No.: [Company Identification No.]	U27201GJ2009PTC057272
IEC No.:	0811019802
TAN No.: [Tax Deduction & Collection Account No.]	AHMJ03936C
PAN No.: [Permanent Account No.]	AACCJ1832G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Continuous Extrusion 8mm and above Copper Rods, Flats, Rods, Nuggets, Components, Sections, Earthing Tapes, Pure Copper Earthing Rods, etc.
No. of Employees :	16 (Approximately) [In Office: 3 + In Factory: 13]

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. There is an accumulated loss recorded by the company during 2014. However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealing with some cautions.

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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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. Jay Rajnikant Shah
Designation :	Director
Contact No.:	91-9924101650
Date :	02.01.2015

LOCATIONS

Registered Office/ Corporate/ Factory :	Block No. 2219, Near Shah Alloys Limited, Village Santej, Taluka Kalol, Santej – 382043, Gujarat, India
Tel. No. :	91-2764-286141/ 42/ 43
Mobile No. :	91-9924101650/ 9426001650 (Mr. Jay Rajnikant Shah)
Fax No. :	91-2764-286141
E-Mail :	info@jaycopperalloys.com jignesh@jaycopperalloys.com jay@jaycopperalloys.com
Website :	www.jaycoperalloys.com
Area :
Location :	Owned

DIRECTORS

As on 30.09.2014

Name :	Mr. Jignesh Shah Rajnikant
Designation :	Director
Address :	49, Vrundavan Society, 132, Ring Road, Satellite, Ahmedabad – 380015, Gujarat, India
Date of Birth/Age :	04.09.1968
Qualification :	B. Com.
Experience :	20 Years
Date of Appointment :	16.06.2009
PAN No.:	AFDPS5055D
Passport No. :	F-9436817
DIN No. :	02614483
Name :	Mr. Jay Rajnikant Shah
Designation :	Director
Address :	49, Vrundavan Society, 132, Ring Road, Satellite, Ahmedabad – 380015, Gujarat, India
Date of Birth/Age :	19.05.1978
Qualification :	B. Com.
Experience :	12 Years
Date of Appointment :	16.06.2009
PAN No. :	AFSPS5852H
Passport No. :	R-3018886
DIN No. :	02633679

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Jignesh Rajnikant Shah	730000	48.67
Jay Rajnikant Shah	730000	48.67
Dharti Jay Shah	20000	1.33
Parita Jignesh Shah	20000	1.33
Total	1500000	100.00

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Continuous Extrusion 8mm and above Copper Rods, Flats, Rods, Nuggets, Components, Sections, Earthing Tapes, Pure Copper Earthing Rods, etc.
Brand Names :	--
Agencies Held :	--
Exports :
Products :	· Tinned Copper Tubes · Copper Tapes · Copper Rods
Countries :	· Muscat · Sultanate of Oman · Sharjah · Jeddah · UAE
Imports :	--
Terms :
Selling :	L/C, Cash, Credit (30 Days and 60 Days)
Purchasing :	L/C, Cash, Credit (30 Days and 60 Days)

PRODUCTION STATUS:

Particulars	Unit	Installed Capacity	Actual Production
Copper Bus Bars Copper Rods Copper Tubes	M.T.	500 P.A.	250 P.A.

GENERAL INFORMATION

Suppliers :

Reference:	NOT DIVULGED
Name of the Person (with Designation):
Contact Number:
Since How Long Known:
Maximum Limit Dealt:
Experience :
Remarks :

Customers :

Wholesalers, OEM’s and End Users

Reference:	Plasma Control Systems
Address:	Ring Road, Odhav, Ahmedabad, Gujarat, India
Name of the Person (with Designation):	Mr. Alpesh Patel (Proprietor)
Contact Number:	91-9824688531
Since How Long Known:	3 to 4 Years
Maximum Limit Dealt:	Rs. 1.500 Millions or as per requirements
Experience :	Product Quality: Good Delivery Behaviour: Good Overall: Good
Remarks :	Having satisfactory trade record and management is also good.

SR. NO.	NAME OF THE CUSTOMER	ADDRESS	CONTACT PERSON	CONTACT NO.	E-MAIL ADDRESS
1.	Patels Airtemp (India) Limited	Plot No. 805 to 807 & 810, Rakanpur, Taluka Kalal, Gujarat, India	Mr. Jayesh Patel	91-2764-286635	materials@patelsarirtemp.com
2.	Aera Electrical Products	67, Gopinath Estate-1, Near Soni’s Chawl Cross Road, Odhav, Ahmedabad, Gujarat, India	Mr. Navneet Patel	91-79-22975116	info@aera.in
3.	Plasma Control Systems	37, Madhav Estate, B/H Hotel Safari, 200Ft Ring Road, Odhav, Ahmedabad, Gujarat, India	Mr. Alpesh Patel	91-9824688531	plasmacontrolsystem@gmail.com
4.	PTC Industries Limited	PO Rajpur, Taluka Kadi, District Mehsana, Gujarat, India	Mr. Bhakti Makwana	--	bhakti@ptcil.com
5.	Veer Lubricants	Near Sajan Party Plot, Opposite National School, Sola Road, Ahmedabad - 380013	--	91-79-27470197	hpoil@veergroup.com
6.	Peaton Electrical Company Limited	309, Atlantis Enclave, Subhash Chowk, Gurukul Road, Ahmedabad – 380052, Gujarat, India	Mr. Pinkesh N. Panchal	91-9099916474	office@grouppower.org
7.	Parikh Energysystems Private Limited	131, Sarita Prabhat Industrial Estate, Near Toll Naka, W. E. Highway, Dahisar (East), Mumbai – 400068, Maharashtra, India	Mr. Jigar P. Parikh	91-22-28284590	sbhatt@grouppower.org
8.	Royalle Engineering Enterprise	Visakhapatnam, Andhra Pradesh, India	Mr. D. N. Devikar	91-891-2573098	info@reenterprise.in
9.	GK Electricals	6-A, “F” Sector, Industrial Area, Govindpur, Bhopal, Madhya Pradesh, India	Mr. Harish Garg	91-755-2586160/ 4260630	gkelectricals@gmail.com
10.	Mazda Limited	Mazda House, 650/1, Panchwati 2^nd Lane, Ambawadi, Ahmedabad – 382006, Gujarat, India	Mr. Nimish Joshi	91-79-40007043	purchase@mazdalimited.com
11.	Ashmor Electricals (India) Private Limited	Block No. 1458, Near Arvind International, Near Mayur Wovens, Khatraj-Kalol Road, Mobi Boyan, Taluka Kalol, Gandhinagar – 382721, Gujarat, India	Mr. Pallav Shah	--	accounts-ashmorelectricals@yahoo.com
12.	Ajay Syscon Private Limited	147/182, Shembekar Industrial Compound, Chinchwad, Pune – 411019, Gujarat, India	--	91-20-27440460/61 /62	hpoil@veergoup.com
13.	AIA Engineering Limited	Plot No. 70, 77, Mahagujarat Industrial Estate, Opposite Nova petrochemicals, Village-Moraiya On Sarkhej-Bavla Highway, N.H. 8A, Taluka Sanand, District Ahmedabad – 382213, Gujarat, India	Mr. Anil Anand	--	anil.anand@aiaengineering.com
14.	Poona Udyog	Pune, Maharashtra, India	Mr. Mahesh Garg	91-9850504391/ 2	mkgarg@gmai.com
15	Baroda Moulds and Dies	Plot No. 48 & 30, 31, 32 GIDC Estate, Waghodia, District Vadodara – 391760, Gujarat, India	Harsha Patel	--	bmd.purchase@epoxyghouse.com harsh@epoxyhouse.com
16	Mathewsons Exports and Imports (Private) Limited	Mathewsons Building Kaloor, Cochin, Kerala, India	Jintu	91-9846216260	Jintu.meipl@mathewsons.com
17	Horizon Brass Industries	T-4635, GIDC, Phase-III, Gujarat, India	Mr. Govind Prasad	91-7383600757	govind@horizonbrass.com
18	Bajeria Industries	103, Dr. Mascarenhas Road, Mazgaon, Mumbai – 400010, Maharashtra, India	Mr. H. Khambata (MD)	91-9324242416	bajeriahtk@gmail.com
19	Nana Udyog	Plot No. 105-107, Old GIDC, Katargam, Surat – 395008, Gujarat, India	Mr. Nilesh Jaiyawala	91-9825946248	purchase@nanaudyog.com
20	Exports Unlimited	4047, GIDC, Phase-3, Dared, Jamnagar – 361004, Gujarat, India	Mr. Milan Patel	91-9427210253	info@exports-unlimited.com
21	Oracle International	Sp. Shed No. 15/2/b, Meldi Mata Mandir Road, Shanker Tekri, Udyognagar, GIDC, Jamnagar, Gujarat, India	Mr. Jay Shah	91-9624640055	info@oracleint.com
22	Pradip Powertech Private Limited	11-12-13, General Bank Chambers, Ahmedabad, Gujarat, India	Mr. Pradip Patel	--	dre_pec@yahoo.com
23	Topline Switchgear Private Limited	Survey No. 797, Opposite Riddhi Plastic, Vadsar-Kalol Road, Village Vadsar, Taluka Kalol, District Gandhinagar, Gujarat, India	Mr. Vishal Trivedi	--	vtrivedi@toplineswitchgear.com
24	Jitendra Electricals	203, Adiraj Arcade, Near Sachin Tower, Opposite Titanium Square, Prahladnagar Road, Satellite, Ahmedabad – 380015, Gujarat, India	Mr. Jitendra Shah	91-79-26763530	jitelect@gmail.com
25	CTR Manufacturing Industries Limited	E-3, MIDC, Chikalthana, Aurangabad – 431006, Gujarat, India	L.V. Shah (Division Manager)	91-9765558231	Tc2@ctr.in
26	Patel Trading Company	Surendranagar, Gujarat, India	Mr. Pradip Patel Mr. Govindbhai Patel	9712884499 9879321410	pateitrading_iuc@yahoo.com
27	Elektrolites (Power) Private Limited	S-758 (A), Road No. 9F, VKI Area, Jaipur – 301103, Rajasthan, India	Gagan Jain (Purchase Manager)	91-141-233057612331624	purchase@elektrolites.com
28	Tirupati Engineers	21/3, Heavy Industrial Area, Jodhpur – 342003, Rajasthan, India	P.S. Jangid	91-291-2742268	ps_jangid@yahoo.com
29	Active Engineers	Plot No. 236-237, Road No. 2, Phase-ll, Kathwada, GIDC, Odhav Road, Ahmedabad - 382430, Gujarat, India	Mahendra Prajapati (Purchase Manager)	--	mahendra@activeengineers.com
30	Pipavav Defence and Offshore Engg. Company Limited	Pipavav, Gujarat, India	Kalpesh Patel (SCM - Procurement	--	kalpesh.patel@pipavavdoc.com
31	Ele+Mech Engineering Solutions	1, Changodar Industrial Estate, Sarkhej-Bavla Highway, Changodar GIDC, Talukar Sanand, District Ahmedabad – 382213, Gujarat, India	Mr. Vinodbhai	91-9879532803	vinodelemech@gmail.com
32	Highvolt Power and Control Systems Private Limited	Survey No. 396, Plot No. 5, 6, 7 New Ahmedabad Industrial Estate, B/h. Nova Petrochemicals Limited, Village-Moraiya Sarkhej-Bavla Highway, Taluka Sanand, District Ahmedabad, Gujarat, India	Krunal	91-2717-2519991645198	purchase@highvoltindia.com
33	Shiv Shakti Engineers	Plot No. 450, Road No. 11, Opposite GVMM, Kathwada, GIDC, Ahmedabad - 382415, Gujarat, India	K.J. Barot	91-79-22901708	shivshakti_55@rediffmail.com
34	Kohler India Corporation Private Limited	Plot No. 828, GIDC, Mega Estate, Jhagadia, Bharuch - 393110, Gujarat, India	Mr. Keval Majithia (Purchase Manager)	91-2646-302630	keval.majithia@kohler.com
35	Leebo Metals Private Limited	Plot No. 8,9 & 15A, Premier Industrial Area, Kachigam, Daman – 396210, Daman and Diu, India	Rakeshkumar Agarwal	91-2525-60510	rakesh@leebometaIs.com
36	Saisons Technocom. Private Limited	A-418, lTC Industrial Area, MIDC, Mahape, Navi Mumbai-400 701	Sagar Gangawni-Sr. Purchase Officer	91-9146244058	sagar@saisons.in
37	Swati Switchgears (India) Private Limited	36, Subhlaxmi Industrial Estate, Village Moraiya, Sarkhej-Bavla Highway, Taluka Sanand, District Ahmedabad - 382210, Gujarat, India	Parekh Bhavsar (Manager Purchase)	91-9377779024	purchase@swatiswitchgears.com
38	Makson Pharmaceuticals (India) Private Limited	195, Rajkot Highway, Surendranagar, Gujarat, India	Trivedi	91-8140593011	purchse@makson-group.com ; accounts@makson-group.com
39	Epoxy House	Vadodara, Gujarat, India	M.B. Patel	--	mansukh@epoxyhouse.com
40	Jemini Turnomatics	Jamnagar, Gujarat, India	Mr. Hiren Jemini	91-9821481848	info@jeminiturnomatics.com
41	Fairdeal Process Automation Private Limited	Plot No. 12, Survey No. 427, Mahagujarat Industrial Estate, Opposite Nova Petro Chemicals, Villa - Moraiya, Sarkhej-Bavla Road, Ahmedabad, Gujarat, India	Mr. Manish Patel	91-9327154993	info@fairdealprocess.com
42	Damsa Vidyut Appliances Private Limited	Plot No. E-1/1 to 5, Radheshyam lndustrial Complex, Village Asangaon, Taluka Shahapur, District Thane – 421601, Maharashtra, India	R.P. Singh (Managing Director)	--	damsa.vidyut@gmail.com
43	Hivoltrans Electricals Private Limited	Plot No. 2202-03, GlDC Industrial Estate, Halol – 389350, District Panchmahals, Gujarat, India	B.J. Upadhyay-(Manager Stores and Purchase)	91-9377744032	hivoltrans@gmail.com
44	Shreem Electric Limited	lndustraqil Estate, Jaysingpur – 416144, Maharashtra, India	R.B. Patil	91-9370643625	rbpatil@shreemelectric.com
45	Kraft Powercon	Gate No. 105, Shivapur, Kundanpur Road, Taluka Bhor, District Pune, Maharashtra, India	S. Ram, Mangesh	--	ram_s@powercon.biz; mangesh_p@powercon.biz
46	The Kallakurichi Co-op. Sugar Mills Limited	Moongil Thuraipattu, Villupuram District - 605702, Tamilnadu	Selvaraj (Special Officer)	91-4151-250304	--
47	PCI Industries	Rakhanpur, Santej, Gujarat, India	--	--	pci@pciindustries.co.in
48	ECS Group	ECS House, 11, Garden View, Opp: Auda Garden, Near Marriment Party Plot, Singhu Bhavan Road, Off. S.G. Highway, Bodakdev, Ahmedabad – 380054, Gujarat, India	Mr. Siddharth Seth (Assistant Manager Project-E Waste)	--	--
49	S.S. Power	Coimbatore, Tamilnadu, India	R. Jayaraman, (Senior Vice President-Busi. Dev. and Proj)	--	rjr@sspower.com
50	Citizen Industries Limited	Plot No. 636, Laxmi lndustrial Estate, Village Rakhanpur, Taluka Kalol, District Gandhinagar, Gujarat, India	Mr. Ashish Gupta	91-9099933154	unit1@citizenind.com
51	Expel Prosys	SF-34-38, Hiravati Chamber, Opposite Arya Kanya Vidyalaya, Karelibaug, Vadodara – 390018, Gujarat, India	Mr. Vipul Solanki	91-9998053884	vipul.solanki@expelprosys.com
52	Topline Industries (Raj.)	F-230, Khara Industrial Area, Sri Ganganagar Road, Bikaner 0 334 804 (Raj.)	Mr. Amit Sharma	91-9784596254	amit.toplineindustries@gmail.com
53	Goldstar lmpex	A-202, West Wing, Shyam Kamal, Agrawal Market, Tejpal Road, Vile Parle (East), Mumbai - 400057, Maharashtra, India	Mr. Bhupendra Hirapara (Managing Director)	91-22-40524000	goldstarimpex@vsnl.com
54	RMC Switchgears Limited	Jaipur, Rajasthan, India	Mr. Ankit Agrawal	--	ankit@rmcindia.in
55	Apple International	Mhatre Pen Building, A-Wing, 2^nd Floor, Senapati Bapat Marg, Dadar (West), Mumbai – 400028, Maharashtra, India	Mr. Deelip B. Mehta (CEO)	--	dilip@appleinternational.com
56	Shree Mahavir Metalcraft Limited	Ploty Zno. 3059, Road No. 6, Phase - 3, GIDC, Dared, Jamnagar - 361 004	Suvidh Mehta -Works Manager	91-288-3984000	mehta@shreemahavir.com
57	Techno Fibre Industries	Factory-143, Sector -A, Indrapuri, Bhopal - 462 023	Mr. Sudeep Nimbaikar	91-9981996563	sudeep@technofibre.net
58	Voltamp Transformers Limited	Makarpura, Vadodara – 390014, Gujarat, India	Mr. Mehul Patel (Senior Engineer)	91-9723455715	pt_proc@voltamptransformers.com
59	A.B. Engineering Concern	Joka Industrial Plaza, D.H. Road, Joka, Kolkata – 700104, West Bengal, India	P. Banerjee	91-33-24970604	abengineering09@gmaiI.com
60	Ratan Industrial lndia Private Limited	Ratan House, 47, Anand Industrial Estate, Mohan Nagar, Ghaziabad, Uttar Pradesh, India	Mr. Gurmeet Singh Anand	91-9810636797	info@rsanand.com
61	Pyrotech Electronics Private Limited, Unit - II	E-329, Road No. 12, M.I.A., Udaipur, Rajasthan, India	Mr. Arvind Salvi	91- 9352523234	pyrotech@pyrotechindia.com
62	Bajeria Industries	P.O. Box 16239, Dr. Mascarenhas Road, Mazgaon, Mumbai – 400010, Maharashtra, India	Khambata	91-9324242416/ 9324242418	bajeriassk@gmail.com ; bajeriahtk@gmail.com
63	MSS lndia Private Limited	H-8, MIDC Area, Ambad, Nashik – 422010, Maharashtra, India	Mr. Bhusan Aswale	--	mssindia_31@mssindia.co.in
64	Vidhyut Control System	Pune, Maharashtra, India	Sonwani	91-9922417949	--
65	Pristine Switchgear (India) Private Limited	Pune, Maharashtra, India	Mr. Rohit Deshpanday	91-9763721719	rohit.deshpande@pristineswitchgear.com
66	Chetna Engineering Company	F-57, MIDC, Ambad, Nasik-422010, Maharashtra, India	Mr. Prakashbhai	91-9422250274	bprakesh_nsk@sancharnet.in
67	Bombardier Transportation lndia Limited	Supply Management-Passengers Division	Nilesh Golwalkar	91-9714713688	nilesh.golwalkar@in.transport.bombardier.com
68	Consus Consulting	8^th Floor, Vatika Business Park. Block-1, Sohna Road, Sector-49, Gurgaon - 122001, Haryana, India	Shreekant Teotia	91-9560915167	shreekantt@consus.co.in
69	G.R. Power Switchgear Limited	Plot No. 29/8, IDA, 4^th Phase, Jeedimetla, Hyderabad, Andhra Pradesh, India	--	--	purchase.grpower@gmail.com
70	Syntex Lndustries Limited	Plastics Division, Kalol (N.G.) – 382721, Ahmedabad, Gujarat, India	Dinesh Koshti	91-9687667183	dckoshti@syntex.co.in
71	Ame Impex Private Limited	C-1/B, 1207, Phase-IV, GIDC Naroda, Near Gayatri Mandir, Ahmedabad, Gujarat, India	--	91-9825035076	--
72	Zeeta Electrical Engg. Private Limited	Survey No. 124,118, Nr. Zydus Cadila, Opposite L & T Limited, Chancharvadi Mataji Na Patiya Sarkhej-Bavla Road, Tal. Sanand, District Ahmedabad - 382213, Gujarat, India	Mr. CGP Nair	91-9099947215/9099929414	sales@zeetaelectricaIs.com
73	Pharmalab India Private Limited	Siddhi Vinayak Estate, Santej-Vadsar Road, Santej, Taluka Kalol, District Gandhinagar, Gujarat, India	Mr. Ravi Joshi	91-9099070596	ravi_joshi@pharmalab.com
74	Sunkid Electro Systems	20, SIDCO Industrial Complex, Kakkalur - 602003, Tamilnadu, India	Mr. Padmanabhan	91-9884840420	sunkid.purchase@gmaiI.com
75	Voltamp Transformers Limited	Makarpura, Vadodara – 390014, Guajrat, India	Mr. Sunil Pandya	91-9377569454	sdpandya_pts@voltamptransformers.com
76	Swati Switchgears (India) Private Limited	36, Subhlaxmi Industrial Estate, Vill-Moraiya, Sarkhej-Bavla Highway, Taluka Sanand, District Ahmedabad – 382210, Gujarat, India	Mr. Paresh Bhavsar (Manager Purcahse)	91-9377779024	purchase@swatiswitchgears.com

No. of Employees :

16 (Approximately) [In Office: 3 + In Factory: 13]

Bankers :

Bank Name:	Bank of India
Branch:	Vastrapur Branch, Ground Floor, 27-28-29 Super Plaza, Sandesh Press Road, Vastrapur, Ahmedabad - 380054, Gujarat, India
Name of the Person (with Designation):	Mr. Piyush Kumar Sharma (Chief Manager)
Contact Number:	91-8511112169
Name of Account Holder:	JAY COPPER AND ALLOYS PRIVATE LIMITED
Account Number:	203830110000017
Account Since (Date/ Year of A/c Opening):	16.06.2009
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	Rs. 30.000 Millions
Account Operation:	Satisfactory
Remarks: As claimed by Mr. Piyush Kumar Sharma a Chief Manager subject having satisfactory track record for banking transaction.

Gujarat, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Term Loan - From Banks (Secured) Rupee Loan	5.382	11.360
SHORT TERM BORROWINGS
Loan Repayable on Demand Rupee Loan	20.041	26.576
Total	25.423	37.936

NOTE:

LONG TERM BORROWINGS

Borrowings from the bank as referred to above are secured by mortgage of Land and Factory Building and hypothecation of Movable Assets and Personal guarantee of Directors.

Auditors :
Name :	Shah Kantilal and Company Chartered Accountants
Address :	806, Mauryansh Elanza, Shyamal Cross Road, Ahmedabad – 380015, Gujarat, India
Tel. No. :	91-79-26753499/ 26750806/ 66633499
Fax No. :	91-79-26751806
E-Mail :	jkshahca@yahoo.com kmshah_ca@hotmail.com
Income-tax PAN of auditor or auditor's firm :	AAMFS3865K
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1,500,000	Equity Shares	Rs.10/- each	Rs. 15.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,500,000	Equity Shares	Rs.10/- each	Rs. 15.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.12.2014 (9 Months) (Provisional)
SHAREHOLDERS FUNDS
1] Share Capital		8.798
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		1.175
NETWORTH		9.973
LOAN FUNDS
1] Secured Loans		34.380
2] Unsecured Loans		41.838
TOTAL BORROWING		76.218
DEFERRED TAX LIABILITIES		0.000
TOTAL		86.191
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		39.337
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	37.269
	Sundry Debtors	13.474
	Cash & Bank Balances	(16.288)
	Other Current Assets	3.800
	Loans & Advances	21.763
Total Current Assets		60.018
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	9.116
	Other Current Liabilities	5.762
	Provisions	(1.627)
Total Current Liabilities		13.251
Net Current Assets		46.767
MISCELLANEOUS EXPENSES		0.087
TOTAL		86.191

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	15.000	10.000	10.000
(b) Reserves & Surplus	(4.180)	(6.202)	(7.508)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	10.820	3.798	2.492
(3) Non-Current Liabilities
(a) Long-term borrowings	37.600	41.281	37.142
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	37.600	41.281	37.142
(4) Current Liabilities
(a) Short term borrowings	20.041	26.576	20.019
(b) Trade payables	3.541	1.085	8.567
(c) Other current liabilities	4.258	4.258	5.936
(d) Short-term provisions	0.624	0.187	0.176
Total Current Liabilities (4)	28.464	32.106	34.698
TOTAL	76.884	77.185	74.332
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	38.752	40.796	41.752
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.474
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	1.668	2.643	3.208
(d) Long-term Loan and Advances	0.379	0.261	2.070
(e) Other Non-current assets	0.086	0.090	0.135
Total Non-Current Assets	40.885	43.790	47.639
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	12.329	9.011	11.762
(c) Trade receivables	7.459	17.940	7.842
(d) Cash and cash equivalents	0.854	0.515	0.816
(e) Short-term loans and advances	15.357	5.929	6.273
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	35.999	33.395	26.693
TOTAL	76.884	77.185	74.332

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2014 (9 Months) (Provisional)
	SALES
		Income	86.449
		Other Income	0.396
		TOTAL	86.845
Less	EXPENSES
		Cost of Goods Sold	70.035
		Freight on Outward	0.019
		Electric Bill Expenses	0.869
		Import Expense	0.394
		Labour Expense	0.007
		Labour Purchase	7.567
		AC Repairing and Maintenance	0.001
		Agency Charges	0.052
		Commission/ Brokerage	1.456
		Computer Expense	0.013
		Consultancy Fees	0.010
		Conveyance Expense	0.012
		Interest Paid on Term Loan	0.533
		LC Charge	0.205
		Legal and Professional Expense	0.074
		Repairs and Maintenance	0.025
		Salary Expense	0.646
		Sales Promotion	0.128
		Other Expenses	3.624
		TOTAL	85.670
	NET PROFIT/ (LOSS)		1.175
	Earnings / (Loss) Per Share (Rs.)		--

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	101.682	80.519	52.807
		Other Income	1.621	2.555	1.958
		TOTAL (A)	103.303	83.074	54.765
Less	EXPENSES
		Cost of Materials Consumed	88.264	60.396	48.913
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(4.885)	4.376	(1.016)
		Employees benefits expense	1.313	1.682	1.455
		Other expenses	8.160	7.872	6.469
		TOTAL (B)	92.852	74.326	55.821
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		10.451	8.748	(1.056)
Less	FINANCIAL EXPENSES (D)		5.325	4.776	6.432
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		5.126	3.972	(7.488)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.129	2.102	2.012
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		2.997	1.870	(9.500)
Less	TAX (H)		0.975	0.565	(2.850)
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		2.022	1.305	(6.650)
	Earnings / (Loss) Per Share (Rs.)		1.35	1.31	(6.65)

KEY RATIOS

PARTICULARS		31.12.2014 (9 Months) (Provisional)	31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	1.36	1.99	1.62	(12.59)
Operating Profit Margin (PBDIT/Sales)	(%)	NA	10.28	10.86	(2.00)
Return on Total Assets (PBT/Total Assets}	(%)	1.18	3.98	2.51	(13.45)
Return on Investment (ROI) (PBT/Networth)		0.12	0.28	0.49	(3.81)
Debt Equity Ratio (Total Debt/Networth)		7.64	5.33	17.87	22.94
Current Ratio (Current Asset/Current Liability)		4.53	1.26	1.04	0.77

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	10.000	10.000	15.000
Reserves & Surplus	(7.508)	(6.202)	(4.180)
Net worth	2.492	3.798	10.820
long-term borrowings	37.142	41.281	37.600
Short term borrowings	20.019	26.576	20.041
Total borrowings	57.161	67.857	57.641
Debt/Equity ratio	22.938	17.867	5.327

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	52.807	80.519	101.682
		52.478	26.283

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	52.807	80.519	101.682
Profit/ (Loss)	(6.650)	1.305	2.022
	(12.59%)	1.62%	1.99%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years and nine months	Yes
12]	Profitability for last three years and nine months	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	Yes
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

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

UNSECURED LOANS

(RS. IN MILLIONS)

PARTICULAR	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Trade Deposit	0.000	5.137
Loans from Directors, Shareholders and Relatives	32.218	24.784
Total	32.218	29.921

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

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
		Estimates	Projections	Projections	Projections	Projections	Projections
1	Gross Sales
	i) Domestic	200.504	364.552	419.235	455.690	455.690	455.690
	ii) Exports	--	--	--	--	--	--
	iii) Trading	--	--	--	--	--	--
	TOTAL	200.504	364.552	419.235	455.690	455.690	455.690
2	Less: Excise Duty	30.554	55.552	63.885	69.440	69.440	69.440
3	Net Sales (1-2)	169.950	309.000	355.350	386.250	386.250	386.250
4	% age rise (+) or fall (-) in Net Sales Compared to Previous Year	74.50	81.82	15.00	8.70	0.00	0.00
5	Cost of Sales
	i) Raw Materials (including stores & items used in the process of manufacture)
	a) Imported	--	--	--	--	--	--
	b) Indigenous	149.946	276.749	309.639	335.109	332.803	332.806
	ii) Other Spares
	a) Imported	--	--	--	--	--	--
	b) Indigenous	2.124	3.863	4.442	4.828	4.828	4.828
	iii) Power and Fuel	4.277	5.702	5.702	5.702	5.702	5.702
	iv) Direct Labour (Factory Wages and Salaries )	1.700	3.090	3.554	3.863	3.863	3.863
	v) Other Manufacturing Expenses (Including Repair and Maintenance)	2.124	3.863	4.442	4.828	4.828	4.828
	vi) Depreciation	3.254	4.559	4.559	4.559	4.559	4.559
	vii) Sub-Total (i to vi)	163.426	297.825	332.338	358.889	356.583	356.586
	viii) Add: Opening Stocks-In-Process	6.643	9.950	17.846	20.461	22.212	22.233
	SUB-TOTAL	170.069	307.775	350.184	379.350	378.795	378.819
	ix) Deduct: Closing Stocks-In-Process	9.950	17.846	20.461	22.212	22.233	22.256
	x) Cost of Production	160.119	289.928	329.723	357.138	356.562	356.563
	xi) Add: Opening Stock of Finished Goods	3.098	3.317	5.949	6.820	7.404	7.411
	SUB-TOTAL	163.217	293.245	335.672	363.959	363.966	363.974
	xii) Deduct: Closing Stock of Finished Goods	3.317	5.949	6.820	7.404	7.411	7.419
	xiii) SUB-TOTAL (Total Cost of Sales)	159.900	287.296	328.851	356.555	356.555	356.555
6	Selling, General and Administrative Expenses	2.549	2.804	3.085	3.393	3.732	4.106
7	Sub-Total (5+6)	162.450	290.100	331.936	359.948	360.287	360.660
8	Operating Profit before Interest (3-7)	7.500	18.900	23.414	26.302	25.963	25.590
9	Interest	8.014	13.154	15.785	16.316	16.126	15.464
10	Operating Profit after Interest (8-9)	(0.513)	5.746	7.629	9.986	9.837	10.126
11	(i) Add: Other Non-Operating Income	5.000	5.000	5.000	5.000	5.000	5.000
	SUB-TOTAL	5.000	5.000	5.000	5.000	5.000	5.000
	(ii) Deduct: Other Non-Operating Expenses	0.000	0.000	0.000	0.000	0.000	0.000
	Sub-Total (Expense)	0.000	0.000	0.000	0.000	0.000	0.000
	(iii) Net of Other Non-Operating Income/Expenses [Net of 11 (i) and 11 (ii)]	5.000	5.000	5.000	5.000	5.000	5.000
12	Profit/Loss before Tax	4.487	10.746	12.629	14.986	14.837	15.126
13	Provision for Taxes - Current	0.897	3.331	3.915	4.646	4.599	4.689
14	Net Profit/Loss after tax (12-13)	3.589	7.415	8.714	10.340	10.237	10.437
15	(a) Transfer to General Reserve	--	--	--	--	--	--
	(b) Dividend Rate	--	--	--	--	--	--
	(c) Dividend Amount	0.000	0.000	0.000	0.000	0.000	0.000
	Dividend Tax	--	--	--	--	--	--
	Prior Period Adjustments (Depreciation written Back)	--	--	--	--	--	--
16	Retained Profit (14-15)	3.589	7.415	8.714	10.340	10.237	10.437
17	Retained Profit/Net Profit (%age)	100.00	100.00	100.00	100.00	100.00	100.00

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

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
		Estimates	Projections	Projections	Projections	Projections	Projections
	Current Liabilities
1	Short-Term Borrowing from Banks (incld. Bills purchased and discounted and excess borrowings placed on repayment basis)
	(i) From Applicant Bank	43.000	80.000	91.000	98.000	98.000	98.000
	(ii) From other banks	--	--	--	--	--	--
	(iii) Of which BP or BD	--	--	--	--	--	--
	SUB-TOTAL (A)	43.000	80.000	91.000	98.000	98.000	98.000
2	Short Term Borrowings from Others	--	--	--	--	--	--
3	Sundry Creditors - Trade	6.101	11.093	12.756	13.866	13.866	13.866
4	Advance Payments from Customers/Deposits from Dealers	0.000	0.000	0.000	0.000	0.000	0.000
5	Provisions for Taxation	0.000	0.000	0.000	0.000	0.000	0.000
6	Dividend Payable	--	--	--	--	--	--
7	Other Statutory Liabilities (due within one year)	--	--	--	--	--	--
8	Deposits/Instalments of Term Loans/DPGs/ Debentures, etc. (due within one year)	4.140	6.110	5.000	5.000	5.000	5.000
9	Other Current Liabilities	4.000	4.000	4.000	4.000	4.000	4.000
	Sub-Total (B)	14.241	21.203	21.756	22.866	22.866	22.866
10	Total Current Liabilities (Total of 1 to 9)	57.241	101.203	112.756	120.866	120.866	120.866
	TERM LIABILITIES
11	Debentures (not maturing within one year)	--	--	--	--	--	--
12	Deferred Tax Liabilities	0.000	0.000	0.000	0.000	0.000	0.000
13	Term Loans (excluding instalments payable within one year)	31.110	25.000	20.000	15.000	10.000	5.000
14	Working Capital Demand Loan	0.000	0.000	0.000	0.000	0.000	0.000
15	Term Deposits/ Unsecured Loans	32.591	38.591	38.591	38.591	38.591	38.591
16	Other Term Liabilities	5.000	5.000	5.000	5.000	5.000	5.000
17	TOTAL TERM LIABILITIES (TOTAL OF 11 TO 16)	68.701	68.591	63.591	58.591	53.591	48.591
18	TOTAL OUTSIDE LIABILITIES (10+17)	125.942	169.794	176.347	179.457	174.457	169.457
	NET WORTH
19	Equity Share Capital	35.000	35.000	35.000	35.000	35.000	35.000
	Share Application Money	0.000	0.000	0.000	0.000	0.000	0.000
20	General Reserve	--	--	--	--	--	--
21	Revaluation Reserves/ Investment Allw. Reserves/ Amalgamation Reserve	0.000	0.000	0.000	0.000	0.000	0.000
22	Capital Reserves	0.000	0.000	0.000	0.000	0.000	0.000
	Share Premium Account	0.000	0.000	0.000	0.000	0.000	0.000
23	Surplus (+) Deficit (-) in Profit & Loss A/c	0.463	7.878	16.592	26.932	37.170	47.606
24	NET WORTH	35.463	42.878	51.592	61.932	72.170	82.606
25	TOTAL LIABILITIES (18 + 24)	161.405	212.671	227.940	241.389	246.626	252.063
	CURRENT ASSETS
26	Cash and Bank Balance	2.318	3.199	4.734	10.538	20.305	30.270
27	Investments (Other than long term investments)
	i) Government and Other Trustee Securities	--	--	--	--	--	--
	ii) Fixed Deposits with Bank (Margin Money)	0.000	0.000	0.000	0.000	0.000	0.000
28	a) Receivables other than Deferred and Exports (including bills Purchased and Discounted by Banks)	33.417	60.759	69.872	75.948	75.948	75.948
	b) Exports Receivables (including Bills Purchased/ discounted by Banks)	--	--	--	--	--	--
29	Instalments of Deferred Receivables (Due within One Year)	--	--	--	--	--	--
30	Inventory
	i) Raw Materials (including stores and other items used in process of manufacture)
	a) Imported	--	--	--	--	--	--
	b) Indigenous	19.806	36.011	41.413	45.014	45.014	45.014
	ii) Stock in Process	9.950	17.850	20.460	22.210	22.230	22.260
	iii) Finished Goods	3.320	5.950	6.820	7.400	7.410	7.420
	iv) Other Consumable Spares
	a) Imported	--	--	--	--	--	--
	b) Indigenous	1.062	1.931	2.221	2.414	2.414	2.414
31	Advance to Suppliers of Raw Materials and Stores and Spares	0.000	0.000	0.000	0.000	0.000	0.000
32	Advance Payment of Taxes	0.000	0.000	0.000	0.000	0.000	0.000
33	Other Current Assets (Specify major items)	5.250	5.250	5.250	5.250	5.250	5.250
	a. Loans and Advances	0.250	0.250	0.250	0.250	0.250	0.250
	b. Government Advances	--	--	--	--	---	--
	c. Sundry Advances	--	--	--	--	--	--
	d. Others	5.000	5.000	5.000	5.000	5.000	5.000
34	Total Current Assets (Total of 26 to 33)	75.120	130.945	150.771	168.780	178.575	188.571
	FIXED ASSETS
35	Gross Block (Land and Building, Machinery, Work in Progress)	94.185	94.185	94.185	94.185	94.185	94.185
36	Depreciation-to-date	10.661	15.220	19.779	24.338	28.896	33.455
37	NET BLOCK (35-36)	83.524	78.965	74.406	69.847	65.289	60.730
	OTHER NON-CURRENT ASSETS
38	Investments/ Book Debts/ Advances/ Deposits which are not Current Assets
	i) a) Investments in subsidiary companies/ affiliates	0.000	0.000	0.000	0.000	0.000	0.000
	b) Others	--	--	--	--	--	--
	c) Advances to Associates/ Subsidiaries	--	--	--	--	--	--
	(ii) Advances to Suppliers of Capitals	--	--	--	--	--	--
	(iii) Receivables over Six Months	0.000	0.000	0.000	0.000	0.000	0.000
	(iv) Others	2.643	2.643	2.643	2.643	2.643	2.643
39	Non-Consumable Store and Spares	--	--	--	--	--	--
40	Other Non-Current Assets/ Brand Valuation	0.000	0.000	0.000	0.000	0.000	0.000
41	TOTAL OTHER NON-CURRENT ASSETS (TOTAL OF 38 TO 40)	2.643	2.643	2.643	2.643	2.643	2.643
42	Intangible Assets (Patents, Goodwill, Preliminary Expenses, Bad Debts not provided for	0.120	0.120	0.120	0.120	0.120	0.120
43	TOTAL ASSETS (TOTAL OF 34, 37, 41 & 42)	161.406	212.672	227.941	241.390	246.627	252.064
44	TANGIBLE NET WORTH (24-42)	35.406	42.880	51.590	61.930	72.170	82.610
	Tangible Net Worth (Excluding Revaluation Reserves)	35.406	42.880	51.590	61.930	72.170	82.610
45	NET WORKING CAPITAL (17+24) – (37+41+42)	17.878	29.741	38.014	47.913	57.709	67.704
	To Tally with (34-10)	17.879	29.742	38.015	47.914	57.710	67.705
46	Current Ratio (Items 34/10)	1.31	1.29	1.34	1.40	1.48	1.56
47	Total Outside Liabilities/ Tangible Net Worth (18/44)	3.55	3.96	3.42	2.90	2.42	2.05
48	Quashi Equity Ratio	1.37	1.61	1.53	1.40	1.23	1.08

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

FUNDS 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
		Estimates	Projections	Projections	Projections	Projections	Projections
1	SOURCES
a	Net Profit	3.589	7.415	8.714	10.340	10.237	10.437
b	Depreciation	3.254	4.559	4.559	4.559	4.559	4.559
	Increase in Capital/ Reserves	20.000	0.000	0.000	0.000	0.000	0.000
	Increase in Term Liabilities (Including Public Deposits)	31.217	--	--	--	--	--
	Decrease in
	i. Fixed Assets	--	--	--	--	--	--
	ii. Other Non-Current Assets	--	--	--	--	--	--
	Others	--	--	--	--	--	--
	Total	58.061	11.973	13.273	14.899	14.796	14.996
	Uses
	Net Loss	--	--	--	--	--	--
	Decrease in Term Liabilities (Including Public Deposits)	--	0.110	5.000	5.000	5.000	5.000
	Increase in
	i. Fixed Assets	48.000	0.000	0.000	0.000	0.000	0.000
	ii. Other Non-Current Assets	0.000	0.000	0.000	0.000	0.000	0.000
	Equity Dividend Paid	0.000	0.000	0.000	0.000	0.000	0.000
e.	Others (P & P Capitalised)	0.000	0.000	0.000	0.000	0.000	0.000
	TOTAL	48.000	0.110	5.000	5.000	5.000	5.000
3	Long Term Surplus (+)/ Deficit (-) (1-2)	10.061	11.863	8.273	9.899	9.796	9.996
4	Increase/Decrease in Current Assets (as per details given below)	39.679	55.825	19.827	18.008	9.796	9.996
5	Increase/Decrease in Current Liabilities other than Bank Borrowings	6.659	6.962	0.554	1.109	0.000	0.000
6	Increase/Decrease in Working Capital Gap	33.020	48.863	19.273	16.899	9.796	9.996
7	Net Surplus (+)/Deficit (-) (Difference of 3 & 6)	(22.959)	(37.000)	(11.000)	(7.000)	0.000	0.000
8	Increase/Decrease in Bank Borrowings	22.959	37.000	11.000	7.000	0.000	0.000
	INCREASE/DECREASE IN NET SALES	72.560	139.050	46.350	30.900	0.000	0.000
	Break Up of (4) above
i	Increase/Decrease in Raw Materials	6.395	16.205	5.402	3.601	0.000	0.000
Ii	Increase/Decrease in Stocks-in-process	3.307	7.897	2.615	1.751	0.021	0.023
Iii	Increase/Decrease in Finished Goods	0.219	2.632	0.872	0.584	0.007	0.008
iv	Increase/Decrease in Receivables
	a) Domestic	26.055	27.341	9.114	6.076	0.000	0.000
	b) Export	0.000	0.000	0.000	0.000	0.000	0.000
v	Increase/Decrease in Stores and Spares	1.062	0.869	0.290	0.193	0.000	0.000
vi	Increase/Decrease in Other Current Assets	2.641	0.881	1.535	5.804	9.768	9.964
	NET EFFECT	39.679	55.825	19.827	18.008	9.796	9.996

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

COMPARATIVE STATEMENT OF CURRENT ASSETS AND 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
		Estimates	Projections	Projections	Projections	Projections	Projections
A.	Current Assets
1	Raw Materials (including stores and other items used in the process and manufacture)
	(a) Imported	0.000	0.000	0.000	0.000	0.000	0.000
	Month's Consumption	0.00	0.00	0.00	0.00	0.00	0.00
	(b) Indigenous	19.806	36.011	41.413	45.014	45.014	45.014
	Month's Consumption	1.59	1.56	1.60	1.61	1.62	1.62
2	Other Consumable Spares excluding those included in 1 above
	(a) Imported	0.000	0.000	0.000	0.000	0.000	0.000
	Month's Consumption	--	--	--	--	--	--
	(b) Indigenous	1.060	1.930	2.220	2.410	2.410	2.410
	Month's Consumption	--	--	--	--	--	--
3	Stocks-in-Process	9.950	17.846	20.461	22.212	22.233	22.256
	Month's Cost of Production	0.75	0.74	0.74	0.75	0.75	0.75
4	Finished Goods	3.317	5.949	6.820	7.404	7.411	7.419
	Month's Cost of Production	0.24	0.25	0.25	0.25	0.25	0.25
5	Receivable Other than Exports and Deferred Receivables (including Bills Purchased and discounted by Bankers)	33.417	60.759	69.872	75.948	75.948	75.948
	Month's Domestic Sales, excluding deferred payment sales	2.00	2.00	2.00	2.00	2.00	2.00
6	Export Receivables (Including Bills Purchased and discounted)	0.000	0.000	0.000	0.000	0.000	0.000
	Month's Export Sales	0.00	0.00	0.00	0.00	0.00	0.00
7	Advances to Suppliers of Raw Material and Stores, Spares and Consumables	0.000	0.000	0.000	0.000	0.000	0.000
8	Other Current Assets including Cash and Bank Balance and Deferred Receivable due within one year	7.568	8.449	9.984	15.788	25.555	35.520
9	TOTAL CURRENT ASSETS	75.120	130.945	150.771	168.780	178.575	188.571
B	CURRENT LIABILITIES (Other than Bank Borrowing for Working Capital)
10	Creditors for Purchase of Raw Materials, Stores, Spares and Consumables	6.101	11.093	12.756	13.866	13.866	13.866
	Month's Purchases	0.49	0.48	0.49	0.50	0.50	0.50
11	Advances from Customers	0.000	0.000	0.000	0.000	0.000	0.000
12	Statutory Liabilities	0.000	0.000	0.000	0.000	0.000	0.000
13	Other Current Liabilities (Specify major items) - Short Term Borrowings, Unsecured Loans, Dividend Payable Instalments of TL, DPG, Public Deposits, Debentures, etc.	8.140	10.110	9.000	9.000	9.000	9.000
14	TOTAL CURRENT LIABILITIES	14.240	21.200	21.760	22.870	22.870	22.870

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

COMPUTATION OF MAXIMUM PERMISSIBLE 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
		Estimates	Projections	Projections	Projections	Projections	Projections
1	Total Current Assets	75.120	130.945	150.771	168.780	178.575	188.571
2	Other Current Liabilities (Other than Bank Borrowings)	14.241	21.203	21.756	22.866	22.866	22.866
3	Working Capital Gap (WCG 1-2)	60.879	109.742	129.015	145.914	155.710	165.705
4	Minimum Stipulated Net Working Capital, I.e., 25% of WCG/ 25% of Total Current Assets as the case may be depending upon the method of lending (Export Receivables to be excluded under both methods)	18.780	32.736	37.693	42.195	44.644	47.143
5	Actual/ Projected Net Working Capital	17.878	29.741	38.014	47.913	57.709	67.704
6	Item 3 minus Item 4	42.099	77.006	91.322	103.719	111.066	118.563
7	Item 3 minus Item 5	43.001	80.001	91.001	98.001	98.001	98.001
8	Maximum Permissible Bank Finance (Item 6 or 7 whichever is lower)	43.001	80.001	91.001	98.001	98.001	98.001
9	Excess Borrowings representing shortfall in NWC (4-5)	--	--	--	--	--	--

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

NET WORTH STATEMENT

MR. JAY RAJNIKANT SHAH

(RS. IN MILLIONS)

BANK ACCOUNT

BANK	BRANCH	S/B C/D A/C NO.	PRESENT BALANCE	LAST 6 MONTH AVERAGE BALANCE
Bank of India	Vastrapur	S/B. 203810110002699	--	20.000

DETAILS OF ASSETS

IMMOVABLE PROPERTY

ASSETS	OWN/ JOINT NAME	AREA	FREE FOR LEASEHOLD	LOCATION/ ADDRESS	PURCHASE COST	PRESENT VALUE	WHETHER ENCUMBERED (Give DETAILS)
Non Agricultural Land	Own	14963 Sq. Mtr.	Freehold	27/2 At and Post Kunda, Santej, Gujarat, India	2.812	35.100	No
Non Agricultural Land	Own	1669.3 Sq. Mtr.	Freehold	28/1, Paiki-2, At and Post Kundal, Santej, Gujarat, India	0.600	5.000	No
Commercial	Own	80.1 Sq. Mtr.	Leasehold	1812, Pada Pole, Gandhi Road, Ahmedabad, Gujarat, India	0.230	1.000	No
Commercial	Own	115 Sq. Mtr.	Leasehold	1815, Pada Pole, Gandhi Road, Ahmedabad, Gujarat, India	0.100	2.000	No
Residential	Own	193.97 Sq. Mtr.	Freehold	Prakruti Bungalows, Bhopal, Madhya Pradesh, India	1.655	12.500	No
Flat/ House	Own	195 Sq. Yds	Leasehold	Vithal Square, Motera, Ahmedabad, Gujarat, India	1.137	4.000	No

MOVABLE PROPERTY

INSURANCE POLICIES

NAME OF COMPANY AND BRANCH	POLICY NO.	SCHEMCE PLAN	DATE OF ISSUE	SUM ASSURED	PAID UP VALUE TILL DATE	ANNUAL PREMIUM	PREMIUM PAID UPTO WHAT PERIOD
L.I.C.	835587650	180/20/20	19.05.2007	0.100	0.065	0.010	30.09.2013
L.I.C.	835587994	180/20/20	06.06.2007	0.100	0.065	0.010	30.09.2013
L.I.C.	835588572	180/20/20	07.07.2007	0.100	0.065	0.010	30.09.2013
L.I.C.	835592441	165/35/35	10.11.2007	0.250	0.077	0.012	30.09.2013
L.I.C.	837961438	165/21/21	18.05.2012	0.500	0.037	0.025	30.09.2013
L.I.C.	837961439	165/21/21	18.05.2012	0.500	0.037	0.049	30.09.2013
L.I.C.	837961440	165/21/21	18.05.2012	1.000	0.074	0.049	30.09.2013
L.I.C.	837961441	165/21/21	18.05.2012	0.500	0.037	0.025	30.09.2013
L.I.C.	837970899	Single Premium	28.06.2013	0.550	0.392	Single Premium	30.09.2013
L.I.C.	837970322	Single Premium	18.05.2013	0.550	0.392	Single Premium	30.09.2013

SHARES/ DEBENTURES/ MUTUAL FUND ETC.

NAME OF COMPANY	NO. OF SHARES	CERTIFICATE NO. A/C. NO. DEMAT A/C NO.	SCHEME	FULLY PAID (YES/ NO)	CURRENT MARKET VALUE
Jay Copper and Alloys Private Limited	5 Lacs	--	NA	Yes	5.000

INVESTMENT IN GOVERNMENT SECURITIES LIKE POSTAL RECURRING, ETC.

BOND/ CERTIFICATE NO.	NATURE OF SECURITIES	DATE OF PURCHASE	ISSUING OFFICE/ POST OFFICE	FACE VALUE	DUE DATE	MARKET VALUE
4200605	Post Recurring	10.10.2009	Paldi	--	10.10.2014	0.180

VEHICLES

TYPE OF VEHICLE	REGISTRATION NO.	MODEL	YEAR OF MAKE	COST AT THE TIME OF PURCHASE	RC BOOK DETAILS	PRESENT VALUE
Motor Car	GJ-1-HQ-8549	Maruti Swift	April, 2008	0.490	0036130	0.198
Motor Car	--	Alto	--	0.200	--	0.096
Motor Car	GJ-1-HJ-5855	Honda City	May 2004	0.447	A-0108575	0.233
Motor Cycle	--	Honda Eterno	--	0.040	--	0.015
Motor Cycle	--	CT 100	--	0.026	--	0.013
Motor Cycle	GJ-01-DK-5572	TVS Victor	2003	0.010	--	0.010
Tempo	--	TATA Ace	--	0.624	--	0.315

CAPITAL INVENTED IN BUSINESS

NAME OF THE FIRM/ COMPANY	AMOUNT
Jay Copper and Alloys Private Limited	8.127
Arihant Villa – Proprietor Concern	0.409
Hasti Switchgear – Proprietor Concern	1.500

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

NET WORTH STATEMENT

MR. JIGNESH SHAH RAJNIKANT

(RS. IN MILLIONS)

BANK ACCOUNT

BANK	BRANCH	S/B C/D A/C NO.	PRESENT BALANCE	LAST 6 MONTH AVERAGE BALANCE
Bank of India	Vastrapur	S/B 203810110002566	--	--

DETAILS OF ASSETS

IMMOVABLE PROPERTY

ASSETS	OWN/ JOINT NAME	AREA	FREE FOR LEASEHOLD	LOCATION/ ADDRESS	PURCHASE COST	PRESENT VALUE	WHETHER ENCUMBERED (Give DETAILS)
Non Agricultural Land	Own	44550 Sq. Yds	Freehold	Plot No. 2219, Village Santej, Taluka, Kolol, District Gandhinagar, Gujarat, India	4.800	45.500	No
Commercial	Joint Name	305 Sq. Ft.	Freehold	B-804, Fairdeal House, Swastik Char Rasta, Navrangpura, Ahmedabad, Gujarat, India	0.400	10.000	--
--	Own	300 Sq. Ft.	Freehold	2015, Sardar Patel Diamond Market, Bapunagar, Ahmedabad, Gujarat, India	0.150	0.500	--
Residential
Flat/ House	Joint Name	102.5 Sq. Yds	Freehold	Ahmedabad, Gujarat, India	0.340	3.400	--

MOVABLE PROPERTY

INSURANCE POLICIES

NAME OF COMPANY AND BRANCH	POLICY NO.	DATE OF ISSUE	SUM ASSURED	SURRENDER VALUE	ANNUAL PREMIUM	PREMIUM PAID UPTO WHAT PERIOD
Star Union Life Insurance Ahmedabad	00220891	23.03.2010	0.075	--	0.075	Upto 2012

SHARES/ DEBENTURES/ MUTUAL FUND ETC.

NAME OF COMPANY	NO. OF SHARES	CERTIFICATE NO. A/C. NO. DEMAT A/C NO.	SCHEME	FULLY PAID (YES/ NO)	CURRENT MARKET VALUE
Jay Copper and Alloys Private Limited	5 Lacs	--	NA	Yes	5.000
As per Demat A/c	--	10093402	NA	Yes	--
SBI	3200	8750686	Magnum Tax Gain	Yes	0.122

INVESTMENT IN GOVERNMENT SECURITIES LIKE POSTAL RECURRING, ETC.

BOND/ CERTIFICATE NO.	NATURE OF SECURITIES	DATE OF PURCHASE	ISSUING OFFICE/ POST OFFICE	FACE VALUE	DUE DATE	MARKET VALUE
43DD632029	NSC	02.01.2009	Ahmedabad	0.005	02.01.2015	0.008
70EE094156	NSC	02.01.2008	Ahmedabad	0.010	02.01.2015	0.016

VEHICLES

TYPE OF VEHICLE	REGISTRATION NO.	MODEL	YEAR OF MAKE	COST AT THE TIME OF PURCHASE	RC BOOK DETAILS	PRESENT VALUE
Motor Car	GJ-2AC-2447	Maruti Alto	--	--	--	0.100
Motor Car	--	Hyundai i10	2012	0.363	--	0.336
Motor Bike	--	Honda Activa	--	0.048	--	0.012

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

VALUATION REPORT

REPORT IN BRIEF

ITEMES	DETAILS/ OBSERVATIONS
Report No.	SHS/B/14/11/21
Purpose of Valuation	To ascertain the market value of the property for security against loan
Date of Valuation	29.11.2014
Date of Inspection	19.11.2014 and 25.11.2014
Name of the Owner	As per copy of Sale Deed, Name of the owner of the property is Mr. Jay Rajnikant Shah
Description of the property i.e. Residential House/ Industrial Unit/ Office Unit	Residential Open Plot
Total Super Plot Area	9655 Sq. Yds. (As per copy of Society certificate)
Location, Street, Ward No.	Sub Plot No. 12 to 24, 26, 27, 28 & 30 to 33, Near Harmony Holidays, Sanand-Nalsarovar Road, Kundal, Sanand, Ahmedabad, Gujarat, India Survey No. 27/2 & 28/1/P/2, Mouje: Kundal, Taluka: Sanand, District: Ahmedabad, Gujarat, India Latitude: 22^o54^’15.76”N, Longitude: 72^o14’0.92”E
Power Connection Service No. Tenement No.	-- --
Status of Occupancy – Owned/ Leased/ Rented/ To be Purchased	Owner
Market Value	Rs. 19.300 Millions
Realizable Value	Rs. 15.400 Millions
Distress Value	Rs. 11.600 Millions
Registered Value as per Jantri	Rs. 3.000 Milliions

VALUATION OF RESIDENTIAL PLOT OWNED BY MR. JAY RAJNIKANT SHAH, SITUATED AT SUB PLOT NOS. 12 TO 24, 26, 27, 28, 30 TO 33 SURVEY NO. 27/2 & 28/1/P/2, MOUJE: KUNDAL, TALUKA: SANAND, DISTRICT: AHMEDABAD, GUJARAT, INDIA

GENERAL DETAILS
Purpose of Valuation	To ascertain the market value of the property for security against loan
Date of valuation	29^th November, 2014
Name of the Owner(s)	As per copy of Sale Deed, Name of the owner of the property is Mr. Jay Rajnikant Shah
If the property is under joint ownership/ co-ownership, share of each owner. Are the shares undivided?	Not Applicable
Brief description of the property	The property as indicated by client is a twenty open level plot located in a plotted scheme in Mouje Kundal i.e. within limits of Ahmedabad District. The said plotted scheme is situated at a distance of 18.4 kms from Sanand Chowkdi on Sanand-Nalsovar road near Suramya Abode and Pushraj Village. The client has purchased 16693 Sq. Metres of land and got approval of competent authority for Sub plotting of the said piece of land. The plot has been divided into 39 sub plots and Single plan is approved for all the plots. Of the total 39 plots, the Client has provided 20 plots bearing Plot Nos 12 to 24, 26, 27, 28 & 30 to 33 admeasuring Super Plot area of 9655 Sq. Yds. as security. Mr. Jay Shah (Client) accompanied them for inspection on 19^th November 2014 and demarcate/ identified the plot nos. 18 to 24 and Mr. Vicky (representative of the client) accompanied them on 25^th November 2014 and identified/ demarcated plot nos. 12 to 17, 26, 27, 28 & 30 to 33. The subject property is Plot Nos 12 to 24, 26, 27, 28 & 30 to 33, at site, the plots are having low compound wall to identify the contours of the individuals plots with a board/ sticker indicating the plot number. Common plot is with borewell. Road work is in progress. Electricity and Water Connection to each plot is yet not provided
Location, Street, Ward No.	Sub Plot No. 12 to 24, 26, 27, 28 & 30 to 33, Near Harmony Holidays, Sanand-Nalsarovar Road, Kundal, Sanand, Ahmedabad, Gujarat, India Survey No. 27/2 & 28/1/P/2, Mouje: Kundal, Taluka: Sanand, District: Ahmedabad, Gujarat, India Latitude: 22^o54^’15.76”N, Longitude: 72^o14’0.92”E
Survey/Plot No. of Land	Survey No. 27/2 & 28/1/P/2, mouje: Kundal, Taluka: Sanand, District: Ahmedabad, Gujarat, India
Is the property situated in the Residential/ Commercial/ Mixed Area/ Industrial Area	The subject property has agricultural field all around it
Classification of Locality – High Class/ Middle Class/ Poor Class	Middle Class
Proximity of Civic Amenities like Schools, Hospitals, Offices, Market, Cinemas, etc.	At Reachable Distance
Means and Proximity to Surface Communication by which the Locality is served	By Private Vehicles
LAND
Area of Land supported by Documentary Proof, Shape, Dimensions and Physical Features	Net plot Area of subject property i.e. Sub Plot no. 12 to 24, 26, 27, 28 & 30 to 33 is 5598.70 Sq. Mtr. Proportionate undivided share of land area in common plot and road is 2474.14 Sq. Mtr. Total Super Plot Area: 8072.87 Sq. Mtr. i.e. 9655.15 Sq. Yds. (Say, 9655 Sq. Yds.)
Roads, Streets or Lanes on which the land is abutting	Abutting to Sanand – Nalsarovar Road
Does the land fall in an area included in T.P. Plan of Government or any statutory body? If so, give particular	Survey No. 27/2 and 28/1/P/2, OF Mouje: Kundal
Has any contribution been made towards development or is any demand for such contribution still outstanding?	NA
Has the whole or part of the land been notified for acquisition by Government or statutory body?	NA
IMPROMENTS
Attach plans and elevations of all structures standing on the land and a lay-out plan	Not Applicable
Furnish technical details of the building on a separate sheet (The annexure to this form may be used)	Not Applicable
i) Is the Building Owner – occupied/ tenanted/ both ii) If partly Owner-Occupied, specify portion and extent of area under owner occupation	Assumed to be owner occupied
What is the Floor Space Index permissible and percentage actually utilized?	Not Applicable
RENTS
1. Names of Tenants/ Lessees/ Licenses, etc. 2. Portions in their occupation 3. Monthly or Annual Rent/ Compensation/ License fee, etc. paid by each 4. Gross amount received for the whole property	These items are not applicable as property is self-occupied by the owner and valuation is for determining its market value as on 29^th November 2014, for security against loan.
Are any of the occupants related to, or close business associates of the owner?
Is separate amount being recovered for the use of fixtures, like fans, geysers, refrigerator, cooking ranges, built-in wardrobes, etc. or for service charges? If so, give details
Give details of Water and Electricity Charges, if any, to be borne by the Owner
Has the tenant to bear the whole or part of the cost of repairs and maintenance? Give Particulars
If a lift is Installed, who is to bear cost of maintenance and operation-Owner or Tenant?	NA
If a pump is installed, who has to bear the cost of maintenance and operation-owner or tenant?	NA
Who has to bear the cost of electricity charges for lighting of common space like entrance hall, stairs, passages, compound, etc. – owner or tenant?	NA
What is the amount of property tax? Who is to bear it? Give details with documentary proof	Details are not available
Is the Building Insured? If so, give the policy no. amount for which it is insured and the annual premium	NA
Is any dispute between landlord and tenant regarding rent pending in a court of law?	NA
Has any standard rent been fixed for the premises under any law relating to the control of rent?	NA
SALES
Give instances of sales of immovable property in the locality on a separate sheet, indicating the name and address of the property, registration No., sale price and area of land sold	As per valuation
Land Rate adopted in this Valuation	Rs. 2000/- per Sq. Yds. based on super plot area
If sale instances are not available or not relied upon the basis of arriving at the land rate	Rs. 2000/- per Sq. Yds. based on super plot area
COST OF CONSTRUCTION
Year of Commencement of Construction and Year of Completion	Not Applicable
What was the Method of Construction-by Contract/by Employing Labour Directly/ Both?	These items are not applicable as valuation is for determining the market value of residential property as on 29^th November 2014, for security against loan
For Items of Works done on Contract, Produce Copies of Agreements
For items of works done by engaging labour directly, give basic rates of materials and labour supported by documentary proof
VALUATION The Market Value of the Residential Open Plot – Sub Plot No. 12 to 24, 26, 27, 28 & 30 to 33, situated Survey No. 27/2 & 28/1/P/2, Mouje: Kundal, Taluka: Sanand, District: Ahmedabad owned by Mr. Jay Rajnikant Shah is estimated at Rs. 19.300 Millions as on 29th November, 2014. The Realizable Value of the subject property is estimated at Rs. 15.400 Millions as on 29^th November, 2014. The Distress Value of the subject property is estimated at Rs. 11.600 Millions as on 29^th November, 2014.
TECHNICAL DETAILS
No of Floors and Height of each Floor	Not Applicable
Plinth Area Floor-Wise (As per IS: 3861-1966)	Not Applicable
Year of Construction	Not Applicable
Estimated Future Life	Not Applicable
Type of Construction - Load Bearing Walls/ RCC Frame/ Steel Frame	Not Applicable
Type of Foundations	Not Applicable
Walls	Not Applicable
Partitions	Not Applicable
Doors and Windows	--
Flooring	Not Applicable
Finishing	Not Applicable
Roofing and Terracing	Not Applicable
Special Architectural or Decorative Features, if any	--
(i) Internal Wiring – Surface or Conduit (ii) Class of Fittings Superior/ Ordinary/ Poor	Not Applicable
Sanitary Installation (a) (i) No. of Water Closets (ii) No. of Lavatory Basin (iii) No. of Urinals (iv) No. of Sinks (v) No. of Bath Tubs (vi) No. of Bidets (vii) No. of Geysers (b) Class of fittings, Superior Coloured/ Superior White/ Ordinary	-- -- -- -- -- -- -- --
Compound Walls: (i) Height and Length (ii) Type of Construction	Brick Masonary Wall Height: 2’00’ (Sub Plot No. 12 is not having compound wall on south side)
No. of lifts and capacity	--
Underground Sump – Capacity and Type of Construction	--
Overhead Tank	--
Pumps – Nos. and their Horse Power	--
Roads and Pavings within the compound approximate area and type of Pavings	--
Sewage disposal – Whether connected to public sewers. It septic tank provided. No. and Capacity	Not Applicable

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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10206853	23/02/2010	44,800,000.00	BANK OF INDIA	VASTRAPUR BRANCH, GR FLOOR, 27-28-29 SUPER PLAZA, SANDESH PRESS ROAD, VASTRAPUR, AHMEDABAD - 380054, GUJARAT, INDIA	A81036790
2	10206854	23/02/2010	44,800,000.00	BANK OF INDIA	VASTRAPUR BRANCH 27 28 29 SUPER PLAZA, SANDESH PRESS ROAD BODAKDEV, AHMEDABAD - 380054, GUJARAT, INDIA	A81037434

FIXED ASSETS

Tangible Assets

· Building

· Plant and Machinery

· Electric Fittings

· Furniture and Fixtures

· Office Equipments

· Computer

· Vehicles

Intangible Assets

· Goodwill

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.29
UK Pound	1	Rs.98.39
Euro	1	Rs.76.31

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	RAS
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	1
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	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		29

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this rep29ort. 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.