MIRA INFORM REPORT

Report No. :	329044
Report Date :	13.07.2015

IDENTIFICATION DETAILS

Name :	G K FOUNDERS PRIVATE LIMITED

Registered Office :	B-201-202, Jyoti Plaza, Above Om Sai Tata Motors, Opposite Anandvan Ashram, S.V. Road, Kandivali (West), Mumbai – 400067, Maharashtra
Tel. No.:	91- 22-2863454

Country :	India

Financials (as on) :	31.03.2015 (Provisional)

Date of Incorporation :	11.10.1988

Com. Reg. No.:	11-049143

Capital Investment / Paid-up Capital :	Rs. 24.000 Million

CIN No.: [Company Identification No.]	U27310MH1988PTC049143

IEC No.:	0301067945

TAN No.: [Tax Deduction & Collection Account No.]	MUMG09001G

PAN No.: [Permanent Account No.]	AAACG4385R

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of Aluminum Ingots.

No. of Employees :	33 (10 in Office and 23 in Factory) (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Status :	Satisfactory

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is a well-established private limited company incorporated in the year 1988, having satisfactory track record. Rating takes into consideration increasing sales turnover and net profit in FY14. Profitability seems to be fair. Overall financial position of the company is improving. However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term fund based limits = BB- (Suspended)
Rating Explanation	Inadequate credit quality and high credit risk.
Date	November 2014

Rating Agency Name	ICRA
Rating	Short term non-fund based limits = A4 (Suspended)
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	November 2014

Reason for Suspension: Absence of the requisite information from the company.

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION PARTED BY

Name :	Ms. Sangeeta Mukund
Designation :	Chief Accountant
Contact No.:	91-9833025720
Date :	30.06.2015

LOCATIONS

Registered/ Head Office :	B-201-202, Jyoti Plaza, Above Om Sai Tata Motors, Opposite Anandvan Ashram, S.V. Road, Kandivali (West), Mumbai – 400067, Maharashtra, India
Tel. No.:	91-22-28634546/ 47
Mobile No.:	91-8108259975 91-9833025720 (Ms. Sangeeta Mukund)
Fax No.:	Not Available
E-Mail :	phdave.co@gmail.com gkfplmumbai@gmail.com
Website :	http://www.gkfounders.com
Area :	540 Sq. ft.
Location :	Rented

Factory 1 :	Survey #252, Part No. 253 and 322, Khaniwali Kanchan Road, Palsai Patha, Village Ambiste Khrudh, Taluka Wada, District Thane – 421320, Maharashtra, India
Tel. No.:	91-2526-237237
Fax No.:	91-2526-237237
Area :	9310 Sq. ft.
Location :	Owned

Factory 2 :	Survey No. 331/2, Plot 5B, Tipco Road, Masat, Silvassa – 396230, Dadra and Nagar Haveli (U.T.), India

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Sohanlal G. Ranka

Designation :

Director

Address :

C/203, Hulas Basti, Mahavir Road, Kandivali, Mumbai - 400067, Maharashtra, India

Date of Birth/Age :

02.09.1954

Qualification :

B. Com

Experience :

42 Years

Date of Appointment :

11.10.1988

PAN No.:

AABPR0160K

Profile :

He is a Commerce Graduate. He is the Managing Director of the company and has an experience of more than 42 years in the aluminium industry and looks after the finance department of the company.

DIN No.:

00216297

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U27310MH1988PTC049143	G K FOUNDERS PRIVATE LIMITED	Director	11-10-1988	11-10-1988	-	Active	NO
2	U27200MH2007PTC173644	G. K. CASTING PRIVATE LIMITED	Director	30-08-2007	30-08-2007	28-03-2008	Active	NO

Name :

Mr. Parvesh Sohanlal Ranka

Designation :

Director

Address :

C/203, Hulas Basti, Mahavir Road, Kandivali, Mumbai - 400067, Maharashtra, India

Date of Birth/Age :

12.12.1979

Qualification :

B. Com

Experience :

12 Years

Date of Appointment :

20.03.2008

PAN No.:

AGHPR6075P

Profile :

He is a Commerce Graduate. Mr. Parvesh has experience of more than 12 years in the aluminum industry. He looks after marketing and operations portfolio of the company.

DIN No.:

01712562

KEY EXECUTIVES

Name :	Ms. Sangeeta Mukund
Designation :	Chief Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders		No. of Shares
Ranka Gheverchand Sohan		121071
Ranka Gheverchand Mahesh		9004
Stocknet International, India		5800
Ranka Parvesh Pooja		5000
Ranka Sohan Shantidevi		56875
Ranka Sohan Parvesh		5250
Ranka Sohan Rahul		4000
Compter Point (India) Limited, India		10000
Sampada Chemicals Limited, India		23000

Total		240000

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	16.17
Directors or relatives of directors	83.83

Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Aluminum Ingots.

Brand Names :	--

Agencies Held :	--

Exports :
Products :	--
Countries :	--

Imports :
Products :	Aluminum Scrap
Countries :	· Netherland · UAE · South Africa · UK

Terms :
Selling :	L/C and Credit (60 Days)

Purchasing :	L/C and Credit

PRODUCTION STATUS (AS ON 31.03.2014)

Particulars	Installed Capacity	Actual Production

Aluminum Ingots	7200 MTPA	85%

GENERAL INFORMATION

Suppliers :

Reference:	Saptashring Metal
Name of the Person (Designation):	Mr. Giridhar Koli (Proprietor)
Contact Number:	91-9890639009
Since how long known:	15 Years
Maximum limit dealt:	As per requirement
Experience:	Product Quality = Good Delivery Behaviour = Good
Remark	Company management is good and they pay dues to time, and their market goodwill is good.

· Bosch Chassis System

Contact Person: Mr. Sandeep Nanekar

Contact No.: 91-9881378845

· Rainbow Export

Contact Person: Mr. Anil Shetty

Contact No.: 91-9004542428

· Kothari Metal

Contact Person: Mr. Rakesh

Contact No.: 91-9322260696

· Reliance Industries Limited

Contact Person: Mr. Umesh Thakur

Contact No.: 91-9967552344

Customers :

Wholesalers, Retailers and End Users

Reference:	Aurangabad Electricals Limited
Name of the Person (Designation):	Mr. Mahesh Joshi (Senior Purchase Manager)
Contact Number:	91-8380047441
Since how long known:	4 Years
Maximum limit dealt:	As per requirement
Experience:	Product Quality = Good Delivery Behaviour = Good
Remark	Product quality is good and they deliver goods on time.

· Crompton Greaves Limited

Contact Person: Mr. Gulshan

Contact No.: 91-9736001302

· Endurance Technologies Limited

Contact Person: Mr. Phanikumar

Contact No.: 91-7480231250

· Dekson Casting Limited

Contact Person: Mr. Rajesh

Contact No.: 91-9823020805

· Shreenath Metals

Contact Person: Mr. Tushar R. Deokate

Contact No.: 91-9225639481

No. of Employees :

33 (10 in Office and 23 in Factory) (Approximately)

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
Person Name (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· Industrial Development Bank of India Limited

City SME Center, Radhika Arcade, Nupur Theatre, Complex, Jalna Road, Aurangabad - 431003, Maharashtra, India

· State Bank of India

Industrial Finance Branch, Near Chincholi Phatak, S.V. Road, Malad West, Mumbai - 400064, Maharashtra, India

· SBI Factors and Commercial Services Private Limited

Branch- Tara Chambers, Pune - 411003, Maharashtra, India

Facilities :

Credit Limit = Rs. 260.000 Million [CC = Rs. 170.000 Million + Term Loan Rs. 6.000 Million + LC = Rs. 75.000 Million + BG 3.000 Million + Derivative/FC/CEL 6.000 Million] [From State Bank of India]

SECURED LOANS	31.03.2015 (Provisional)	31.03.2014
LONG-TERM BORROWINGS
Term Loan (SBI-7475)	0.000	3.762
BMW India Financial Services Private Limited	0.000	0.486
SHORT TERM BORROWINGS
SBI Buyers Credit	74.009	70.376
SBI CC A/c	168.303	162.301

Total	242.312	236.925

LONG-TERM BORROWINGS

Term Loan is secured against Factory Land and Building and Plant and Machinery of the Company and further secured by Directors Residnetial and Office Premises and lien on Bank FD and by personal guarantee of Directors and Relatives.

BMW India Financial Services Private Limited loan is secured against BMW Car.

SHORT TERM BORROWINGS

SBI CC A/c and Buyers Credit is secured against hypothecation of entire current assets of the company and further secured by Directors Residential and office premises and lien on Bank FD and by personal guarantee of Directors and Relatives.

Banking Relations :	--

Auditors :
Name :	P. H. Dave and Company Chartered Accountants
Address :	118 Andheri Industrial Estate, Off. Veera Desai Road, Andheri West, Mumbai – 400053, Maharashtra, India
Tel. No.:	91-22-26734381/ 26734397
Fax No.:	91-22-26732194
E-Mail :	deepak@phdave.co.in phdave.co@gmail.com accounts@phdave.co.in
Income-tax PAN of auditor or auditor's firm :	AAHFP9194M

Memberships :	--

Collaborators :	--

Enterprises in which key managerial personal has significant influence :	· Disha Traders · G.K. Casting Private Limited · Veena Alloys

CAPITAL STRUCTURE

AS ON 31.03.2015 [PROVISIONAL]

Authorised Capital :

No. of Shares	Type	Value	Amount

500,000	Equity Shares	Rs. 100/- each	Rs. 50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

240,000	Equity Shares	Rs. 100/- each	Rs. 24.000 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015 [Provisional]	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	24.000	24.000	24.000
(b) Reserves & Surplus	178.045	161.006	147.979
(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)	202.045	185.006	171.979

(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	4.448	10.518
(b) Deferred tax liabilities (Net)	0.625	0.676	0.736
(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)	0.625	5.124	11.254

(4) Current Liabilities
(a) Short term borrowings	242.312	232.677	237.901
(b) Trade payables	16.434	20.348	13.956
(c) Other current liabilities	21.696	24.928	29.336
(d) Short-term provisions	0.617	1.257	1.056
Total Current Liabilities (4)	281.059	279.210	282.249

TOTAL	483.729	469.340	465.482

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	52.535	56.558	57.487
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.408	0.985	1.353
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	21.319	18.942	18.037
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	74.262	76.485	76.877

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	68.792	70.925	51.843
(c) Trade receivables	208.504	190.504	187.659
(d) Cash and cash equivalents	29.093	26.309	31.075
(e) Short-term loans and advances	103.078	105.117	118.028
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	409.467	392.855	388.605

TOTAL	483.729	469.340	465.482

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015 [Provisional]	31.03.2014	31.03.2013
	SALES
		Revenue from Operations	1105.067	877.033	789.843
		Other Income	9.250	8.548	5.359
		TOTAL (A)	1114.317	885.581	795.202

Less	EXPENSES
		Cost of Materials Consumed	963.387	760.488	674.165
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	8.013	(5.421)	(1.560)
		Employees benefits expense	30.327	21.485	18.420
		Other expenses	53.255	53.692	51.884
		TOTAL (B)	1054.982	830.244	742.909

	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		59.335	55.337	52.293

Less	FINANCIAL EXPENSES (D)		27.665	29.240	27.946

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		31.670	26.097	24.347

Less/ Add	DEPRECIATION/ AMORTISATION (F)		5.932	6.217	6.136

	PROFIT BEFORE TAX (E-F) (G)		25.738	19.880	18.211

Less	TAX (H)		8.698	6.853	5.394

	PROFIT AFTER TAX (G-H) (I)		17.040	13.027	12.817

	IMPORTS
		Raw Materials	NA	366.365	563.529

	Earnings Per Share (Rs.)		71.00	54.28	53.40

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015 [Provisional]	31.03.2014	31.03.2013
Current Maturities of Long term debt
Term Loan (SBI-7475)	3.697	5.400	5.400
BMW India Financial Services Private Limited	0.477	0.608	0.562
Total	4.174	6.008	5.962

Cash Generated from operations	NA	NA	NA

Net cash flows from (used in) operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2015 [Provisional]	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	1.54	1.49	1.62

Operating Profit Margin (PBDIT/Sales)	(%)	5.37	6.31	6.62

Return on Total Assets (PBT/Total Assets}	(%)	5.33	4.24	3.92

Return on Investment (ROI) (PBT/Networth)		0.13	0.11	0.11

Debt Equity Ratio (Total Liability/Networth)		1.22	1.31	1.48

Current Ratio (Current Asset/Current Liability)		1.46	1.41	1.38

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

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particulars	31.03.2013	31.03.2014	31.03.2015 [Provisional]
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	24.000	24.000	24.000
Reserves & Surplus	147.979	161.006	178.045
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	171.979	185.006	202.045

Long-term borrowings	10.518	4.448	0.000
Short term borrowings	237.901	232.677	242.312
CURRENT MATURITIES OF LONG-TERM DEBTS	5.962	6.008	4.174
Total borrowings	254.381	243.133	246.486
Debt/Equity ratio	1.479	1.314	1.220

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015 [Provisional]
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	789.843	877.033	1105.067
		11.039	26.001

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015 [Provisional]
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	789.843	877.033	1105.067
Profit	12.817	13.027	17.040
	1.62%	1.49%	1.54%

LOCAL AGENCY FURTHER INFORMATION

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

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

UNSECURED LOANS

(RS. IN MILLION)

PARTICULARS	31.03.2015 (Provisional)	31.03.2014
LONG-TERM BORROWINGS
Loan from Shareholders
Shantidevi Ranka	0.000	0.200

Total	0.000	0.200

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

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(RS. IN MILLION)

PARTICULARS	31.03.2016 Projection	31.03.2017 Projection

GROSS SALES
Domestic Sales	1050.000	1200.000
Export Sales	--	--
Other Operating Income	--	--

Total	1050.000	1200.000

Less: Excise Duty	--	--

Net Sales (1-2)	1050.000	1200.000

%age rise (+) or fall (-) in net sales as compared to previous year	10.53%	14.29%

COST OF SALES
Raw materials (including stores and other items used in the process of mfg.)
Imported	641.700	741.600
Indigenous	257.400	300.000

Other Spares
Imported	--	--
Indigenous	6.000	6.000

Power and Fuel	34.000	35.000

Employee Costs (Factory wages and salaries)	30.000	35.000

Other Manufacturing expenses	13.000	13.500

Depreciation	4.000	4.000

Sub-total	986.100	1135.100

Add: Opening stock in process	24.500	25.000

Sub-total	1010.600	1160.100

Less: Closing Stock in process	25.000	27.500

Cost of Production	985.600	1132.600

Add: Opening stock of Finished Goods	7.500	9.000

Sub-total	993.100	1141.600

Less: Closing Stock of Finished Goods	9.000	10.000

Sub-total (Cost of Sales)	984.100	1131.600

Selling, General & Administrative Expenses	24.000	25.000

Sub-total	1008.100	1156.600

Operating Profit before interest & Depreciation	41.900	43.400

Interest – WC	21.300	21.300
Interest – Term Loans	--	--

Operating profit after interest and depreciation	20.600	22.100

Add: Other non-operating income
Exchange loss, if any	--	--
Exceptional items	--	--
Miscellaneous	3.000	3.000

Sub-total (Income)	3.000	3.000

Deduct: Other non-operating expense
Exchange loss, if any	--	--
Miscellaneous	--	--

Sub-total (Expenses)	0.000	0.000

Net of other non-operating incomes/expenses	3.000	3.000

Profit before tax/loss	23.600	25.100

Provision for taxes – Current Adjustment for earlier years	7.800	8.300
Deferred Tax	0.000	0.000

Net Profit / (Loss)	15.800	16.800

Equity dividend paid/ Drawings	--	--
Tax on dividend	--	--
Dividend Rate	--	--

Retained Profit	15.800	16.800

Retained Profit / Net Profit (%age)	100.00%	100.00%

Cash Accruals	19.800	20.800

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

ANALYSIS OF BALANCE SHEET

(RS. IN MILLION)

PARTICULARS	31.03.2016 Projection	31.03.2017 Projection

CURRENT LIABILITIES
Short term borrowings from bank (incl. Bills purchased, discounted & excess borrowings placed on repayment basis)
(i) From applicant bank	170.000	170.000
(ii) From other banks	--	--
(iii) of which BP & BD	--	--

Sub Total (A)	170.000	170.000

Short term borrowings from others (Including bills purchased discounted and excess borrowings placed on repayment basis)

Sundry Creditors – Goods	22.000	22.000
- Expenses / Others	--	--

Advance payments from customers	5.000	5.000

Deposits from dealers	--	--

Provision for Taxation	7.800	8.300

Dividend Payable including tax	--	--

Other Statutory Liabilities (due within one year)	4.000	4.000

Deposits/ Instalments of term loan/ DPGs/ Debentures etc. (due within one year)	--	--

Other current liabilities & Provisions (due within one year)	75.000	75.000

Other Provisions	--	--

Sub Total (B)	113.800	114.300

TOTAL CURRENT LIABILITIES	283.800	284.300

TERM LIABILITIES
Debentures (not maturing within one year)	--	--

Preference Shares (redeemable after one year)	--	--

Share Application Money	--	--

Term Loans (including installments payable within one year)	--	--

Deferred Payment Credits (excluding instalments due within one year)	--	--

Term deposits (repayable after one year)	--	--

Deferred Tax Liability	0.700	0.700

Other term liabilities	--	--

TOTAL TERM LIABILITIES	0.700	0.700

TOTAL OUTSIDE LIABILITIES	284.500	285.000

NET WORTH
Ordinary Share Capital	24.000	24.000

Subsidy	--	--

Debentures (Convertible)/ Bonds/ FCCBs	--	--

Share Premium	36.000	36.000

Preference Shares (redeemable after 12 years and share warrants)	--	--

General reserve (including capital reserve)	--	--

Revaluation reserve	--	--

Other reserves (excluding provisions)	--	--

Surplus (+) or deficit (-) in Profit & Loss Account	155.400	172.200

NET WORTH	215.400	232.200

TOTAL LIABILITIES	499.900	517.200

CURRENT ASSETS
Cash and Bank balances	4.500	4.700

Investments [Other than long term]
Government and other trustee securities	--	--
Fixed deposits with banks	22.300	22.300

Receivables < 6M – Exports	--	--
- Domestic	--	--

Receivables > 6M – Exports	--	--
- Domestic	246.500	264.100

Installments of deferred receivables (due within one year)	--	--

Loans and Advances
Raw materials
Packing Credit
Imported	35.500	35.500
Indigenous	12.000	12.000

Other Stock
Imported	--	--
Indigenous	--	--

Stock in process	25.000	27.500

Finished Goods	9.000	10.000

Other consumable spares
Imported	--	--
Indigenous	0.300	0.300

Advances to suppliers/ rejn recov of raw materials and spares	52.500	52.500

Advance payment of taxes	--	--

Other current assets	24.400	24.400

TOTAL CURRENT ASSETS	432.000	453.300

FIXED ASSETS
Gross Block	81.800	81.800

Capital work-in-progress	--	--

Depreciation to date	34.200	38.200

NET BLOCK	47.600	43.600
Depreciation written back, if any

OTHER NON-CURRENT ASSETS
Investments/book debts /advances deposits which are not current assets
Investments in subsidiary companies/ affiliates	--	--
Other Investments	1.000	1.000
Advances to suppliers of capital goods & contractors	--	--
Deferred receivables (maturity exceeding one year)	--	--

Other non-current assets	--	--

Non consumables stores & spare	--	--

Security Deposits	8.300	8.300

Dues from directors	11.000	11.000

TOTAL OTHER NON-CURRENT ASSETS	20.300	20.300

Intangible assets (patents, goodwill, prelim, expenses, bad/ doubtful debts not provided for etc.)	--	--

TOTAL ASSETS	499.900	517.200

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

NETWORTH STATEMENT

MR. PARVESH RANKA

(RS. IN MILLION)

SR. NO.	PARTICULARS	31.03.2014

	ASSETS
1	Investments	1.352

2	Loans and Advance	0.244

3	Cash in Hand	0.446

4	Bank Balance	0.013

	Total (A)	2.055

	LIABILITIES
1	Unsecured Loans	0.345

	Total (B)	0.345

	GRAND TOTAL (A-B)	1.710

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

NETWORTH STATEMENT

MR. SOHAN RANKA

(RS. IN MILLION)

SR. NO.	PARTICULARS	31.03.2014

	ASSETS
1	Flat at Kandivali (M.V)	4.900

2	Investment in Others	0.010

3	G.K. Founders Private Limited Shares	1.790

4	Loans and Advances	3.600

5	Cash in Hand	0.527

6	Bank Balances	0.095

	Total (A)	10.922

	LIABILITIES
1	Secured Loan	2.899

2	Unsecured Loans	0.803

3	Current Liabilities	3.514

	Total (B)	7.216

	GRAND TOTAL (A-B)	3.706

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

COMPANY PROFILE

Subject has been incorporated as a Private Limited. Company on 11.10.1988. The Company has been promoted by Mr. Sohan G. Ranka, who has vast experience of over four decades in the industry. The Company is engaged in manufacturing of Aluminum Alloys/ Ingots from aluminum scrap. With its product profile catering mainly to the automobile and electrical industry, GKFPL is significantly exposed to the fortunes of these industries.

The Company which initially had the manufacturing facilities at Valsad, undertook large scale expansion in 2003-04 by setting up the foundry with latest technology at Silvassa where tax and other benefits are also available. The expansion project was funded entirely from own sources. The manufacturing facility at Silvasa is ISO 9001:2000 certified.

To expand its manufacturing capacity of ingots to 7200 TPA at its Wada Unit, the Company availed a term loan of Rs. 20.000 Million from the bank in the 2011 and the same is fully repaid.

The ingots which are manufactured at Wada plant are of higher grade than that of Silvassa plant. The company has received a capital subsidy of Rs. 18.000 Million which can be claimed to the extent of 25% of VAT every year till 2021. The company also enjoys electricity duty exemption till 2027. The company has shifted its manufacturing facilities totally from Silvassa to Wada Plant.

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

VALUATION REPORT

(GENERAL DETAILS)

Name of the Owner

Mr. Sohan G. Ranka, Mrs. Shanti S. Ranka,

Mr. Hirachand G. Ranka and Mrs. Veena H. Ranka

Property Details

Address

Gala No. 101, 102, 103 and 104, 1^st Floor, “Ranka House”, Bail Bazaar Kale Marg, Kajupada, Kamani, Kurla Sakinaka Road, Kurla (West), Mumbai – 400070, Maharashtra, India

Nearby Landmark/ Google Map Independent Access to Property

Bail Bazaar Kale Marg

Document details

Legal Documents

Yes

List of Documents

1. Deed of Gift

2. Agreement for Sale

Physical Details

Adjoining Properties

North : Kajupad Road

South : Chwal

East : Bail Bazaar Kale Marg

West : Chawl

Matching of

Boundaries

Not Mentioned in Agreement

Plot Demarcated

Yes

Approved Land Use

Commercial

Type of Property

Commercial Premises

No. of Rooms

Gala Nos. 101, 102, 103 have been merged with each other having common entrance.

Shop Floor, W. C. and Washroom.

Gala No. 104 – Shop Floor, W. C. and Washroom

Total No. of Floors	Floors on which the property is located	Approx Age of the Property	Residual Age of the Property	Type of Structure RCC Framed/ Stone/ BB Masonry
Ground Plus Two Upper Floors	First Floor	1994-1995 (Reported) 20 Years Old	40 Years with proper Care and Maintenance	RCC Framed Structure

Tenure/ Occupancy details

Status of Tenure

Owned

No. of Years of Occupancy

Gala No. 101 = about 13 Years and at present Vacant

Gala No. 102 = about 09 Years and at present Vacant

Gala No. 103 = about 13 Years and at present Vacant

Gala No. 104 = about 09 Years and at present Vacant

Stage of Construction

Stage of Construction	Under Construction / Completed	If under Construction, Extent of Completion
	Completed	Not Applicable

Violations if any Observed

Not Observed

Nature and Extent of Violations

Nil

Area details of the Property

Built up Area

Gala No. 101 = 375.13 sq. ft.

Gala No. 102 = 359.08 sq. ft.

Gala No. 103 = 375.13 sq. ft.

Gala No. 104 = 234.99 sq. ft.

Valuation

· Mention the value as per government approved rates also

· In case of variation of 20% or more in the valuation proposed by the valuer and the guideline value provided in the state Government notification or Income Tax Gazette justification on variation has to be given

SUMMARY OF VALUATION

· Guideline Value

Land:

Because FSI is fully utilized and consumed.

Built up Area :

As per Register Office

Rs. 6104/- per sq. ft.

Difference in government indicated rates and present prevailing rates in the locality is much higher than the government guideline rates. Even in some area it is more than double also. The prevailing rate depends upon project to project on the basis of amenities provided, type of construction, locality, approach road etc. The government rate is fixed on the entire zone i.e. C.T.C. No. / Ward No./ T.P.S. No./ Village etc. However the actual prevailing rates depend upon above mention factors and demand and supply in the locality.

Fair Market Value	1344.33 sq. ft. x Rs. 15000/- = Rs. 20.165 Million

Realizable Value	Rs. 18.149 Million

Forced/ Distress Sale Value	Rs. 16.132 Million

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

VALUATION REPORT

(GENERAL DETAILS)

Name of the Owner

Mr. Tejraj G. Ranka

Property Details

Address

Gala No. 105, 1^st Floor, “Ranka House”, Bail Bazaar Kale Marg, Kajupada, Kamani, KurlaSakinaka Road, Kurla (west), Mumbai – 400070, Maharashtra, India

Nearby Landmark/ Google Map Independent Access to Property

Bail Bazaar Kale Marg

Document details

Legal Documents

Yes

List of Documents

Deed of Gift

Physical Details

Adjoining Properties

North : Kajupad Road

South : Chwal

East : Bail Bazaar Kale Marg

West : Chawl

Matching of

Boundaries

Not Mentioned in Agreement

Plot Demarcated

Yes

Approved Land Use

Commercial

Type of Property

Commercial Premises

No. of Rooms

Shop Floor, W. C. and Washroom

Total No. of Floors	Floors on which the property is located	Approx Age of the Property	Residual Age of the Property	Type of Structure RCC Framed/ Stone/ BB Masonry
Ground Plus Two Upper Floors	First Floor	1994-1995 (Reported) 20 Years Old	40 Years with proper Care and Maintenance	RCC Framed Structure

Tenure/ Occupancy details

Status of Tenure

Owned

No. of Years of Occupancy

About 09 Years and at present Vacant

Stage of Construction

Stage of Construction	Under Construction / Completed	If under Construction, Extent of Completion
	Completed	Not Applicable

Violations if any Observed

Not Observed

Nature and Extent of Violations

Nil

Area details of the Property

Carpet Area

319.35 Sq. ft.

Built up Area

383.22 Sq. ft.

Valuation

· Mention the value as per government approved rates also

SUMMARY OF VALUATION

· Guideline Value

Land

Because FSI is fully utilized and consumed.

Built up Area :

As per Register Office

Rs. 6104/- per sq. ft.

Fair Market Value	383.22 sq. ft. x Rs. 15000/- = Rs. 5.748 Million

Realizable Value	Rs. 5.173 Million

Forced/ Distress Sale Value	Rs. 4.598 Million

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

VALUATION REPORT

(GENERAL DETAILS)

Name of the Owner

Mr. Sohan G. Ranka and Mrs. Shanti Devi S. Ranka

Property Details

Address

Gala No. 203, 2^st Floor, ‘C’ Wing, “Hulas Basti Cooperative Housing Society Limited”, Panchsheel Enclave, Near Datta Mandir, Dhanukarwadi, Kandivali (West), Mumbai – 400067, Maharashtra, India

Nearby Landmark/ Google Map Independent Access to Property

Near Datta Mandir

Document details

Legal Documents

Yes

List of Documents

Agreement for Sale

Physical Details

Adjoining Properties

North : Road

South: Vina Sitara Chsl.

East : Vina Sitara Chsl.

West : Padma Sadan Chsl.

Matching of

Boundaries

Not Mentioned in Agreement

Plot Demarcated

Yes

Approved Land Use

Commercial

Type of Property

Commercial Flat

No. of Rooms

Living Room, a Kitchen, Three Bedroom – two with attached W.C. and bath, Passage, Balcony, Common W,C and bath, Store Room

Total No. of Floors	Floors on which the property is located	Approx Age of the Property	Residual Age of the Property	Type of Structure RCC Framed/ Stone/ BB Masonry
Basement, Ground plus Fourteen Upper Floors	Second Floor	1999-2001 (Reported) 14 Years Old	46 Years with proper Care and Maintenance	RCC Framed Structure

Tenure/ Occupancy details

Status of Tenure

Owned

No. of Years of Occupancy

About 14 Years and at present Vacant Owner Occupied

Stage of Construction

Stage of Construction	Under Construction / Completed	If under Construction, Extent of Completion
	Completed	Not Applicable

Violations if any Observed

Not Observed

Nature and Extent of Violations

Nil

Area details of the Property

Built up Area

1164.00 sq. ft.

Super Built up Area

1455.00 sq. ft.

Valuation

i. Mention the value as per government approved rates also

ii. In case of variation of 20% or more in the valuation proposed by the valuer and the guideline value provided in the state Government notification or Income Tax Gazette justification on variation has to be given

SUMMARY OF VALUATION

Guideline Value

i. Land:--

ii. Built up Area: Rs. 10609/- in 2015 as per ready reckenor

Fair Market Value	1455.00 sq. ft. x Rs. 18500/- = Rs. 26.918 Million

Realizable Value	Rs. 24.226 Million

Forced/ Distress Sale Value	Rs. 21.534 Million

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

VALUATION REPORT

(GENERAL DETAILS)

Name of the Owner

G. K. Founders Private Limited

Property Details

Address

Plot No. 5/B, Survey No. 331/2, Near Canbara Company, Khadipada, Tipco Road, Masat, Silvasa, Union Territory of Dadra and Nagar Haveli.

Nearby Landmark/ Google Map Independent Access to Property

Canbara Company

Document details

Legal Documents

Yes

List of Documents

Sale Deed

Physical Details

Adjoining Properties

North : Open Plot

South: Road and Plot No. 5

East : House

West : Open Plot

Matching of

Boundaries

Not Mentioned in Agreement

Plot Demarcated

Yes

Approved Land Use

Commercial

Type of Property

Industrial Land and Building

Ground Floor

Three Cabins, Lab, W.C. and Washroom

1^st Floor

Cabin. Storage Space, Store Room, W.C. and Washroom

Shed

Meter Room, W.C. and washroom, Security Cabin

Total No. of Floors	Floors on which the property is located	Approx Age of the Property	Residual Age of the Property	Type of Structure RCC Framed/ Stone/ BB Masonry
Partly Ground and Partly Ground plus One Upper Floors	Ground and First Floor	2002 (Reported) 13 Years Old	32 Years with proper Care and Maintenance	RCC Framed Structure

Tenure/ Occupancy details

Status of Tenure

Owned

No. of Years of Occupancy

About 11 Years and at present Vacant

Stage of Construction

Under Construction / Completed	If under Construction, Extent of Completion
Completed	Not Applicable

Violations if any Observed

Not Observed

Nature and Extent of Violations

Nil

Area details of the Property

Land Area

1995.00 sq. mtrs

Built up Area	Factory Shed
	Lean to Shed
	Office Building
	Covering Shed
	Watchmen Cabin

338.63 sq. mtrs

150.0 sq. mtrs

114.27 sq. mtrs

1432.85 sq. mtrs

3.34 sq. mtrs

Valuation

i. Mention the value as per government approved rates also

SUMMARY OF VALUATION

i. Guideline Value

Land: 1995.00 sq. mtrs X Rs. 1360/- = Rs. 2.713 Million

Fair Market Value :
Land	1995 sq. mtrs X Rs. 3000/-	Rs. 5.985 Million
Factory Shed	338.63 sq. mtrs X. Rs. 5500/-	Rs. 1.862 Million
Lean to Shed (attached to factory shed)	150.00 sq. mtrs X Rs. 1500/-	Rs. 0.225 Million
Office Building	114.27 sq. mtrs X Rs. 4500/-	Rs. 0.514 Million
Covering Shed	1432.85 sq. mtrs X Rs. 1250/-	Rs. 1.791 Million
Watchmen Cabin	3.34 sq. mtrs X Rs. 1500/-	Rs. 0.005 Million
Compound wall with M.S. Gates, Security Cabin, Internal Road and Pavement, Drainage System etc.		Rs. 0.500 Million

Total Value		Rs. 10.882 Million

Realizable Value		Rs. 9.794 Million

Forced sale Value		Rs. 8.706 Million

Cost of Construction for Insurance Purpose		Rs. 4.897 Million

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

VALUATION REPORT

(GENERAL DETAILS)

Introduction

Name of the Property Owner

G.K. Founders Private Limited

Gut No. 252, 253 and 322 part, Near Blue Star Company and HP Petrol Pump, Palsai Kanivali Kanchan Road, Palsai Phata, Village Ambiste-Khurd, Taluka Wada, District Thane.

Purpose of Valuation

Fair Market Value

Date of Inspection of Property

28.03.2015

Date of Valuation Report

08.04.2015

Name of the Developer of Property

Self Constructed

Physical Characteristics of the Property

Location of the Property

Nearby landmark

Village Ambiste-Khurd

Postal Address of the Property

Land and Building at Gut No. 252, 253 and 322 part, Near Blue Star Company and HP Petrol Pump, Palsai Kanivali Kanchan Road, Palsai Phata, Village Ambiste-Khurd, Taluka Wada, District Thane.

Area of the plot/land

Gut No. 252 = 0 Hector 50 Are

Gut No. 253 = 0 Hector 21 Are 1 paiki

Gut 322 part = 0 Hector 22 Are 0 paiki

Total = 0 Hector 93 Are 1 paiki i.e.

1 Are = 100 Sq. Mt.

93 Are = 9300 Sq. Mt.

1 Paiki = 10 Sq. Mt.

Total Land Area = 9310.00 Sq. Mt.

Type of Land: Solid, Rocky, Marsh Land, reclaimed land, Water-logged, land locked

Solid Land

Independent access/ approach to the property etc.

Independent

Details of roads abutting the property

Palsai Kanivali Kanchan Road and Ambiste-Khurd Road.

Description of adjoining property

It is open land in around these units.

Plot No. Survey No.

Gut No. 252, 253 and 322 part

Ward/ Village/ Taluka

Village Ambiste-Khurd, Taluka Wada

Sub-Registry / Block

Wada

District

Thane

Any other aspect

Not Applicable

Plinth area, carpet area and saleable are to be mentioned separately and clarified

Constructed Area = 2546.45 Sq. Mt.

Boundaries of the Plot

North: Road

South: Open Plot

East: Open Land

West: Open Plot

Town Planning Parameters

Master Plan provisions related to property in terms of land use

Land and Building

FAR – Floor Area Rise/ FSI-Floor Space Index permitted and consumed

1:1

Ground coverage

2546.45 Sq. Mt.

Comment on whether OC-Occupancy Certificate has been issued or not

Permission is intact

Transferability of developmental rights if any, Building by-laws provision as applicable to the property viz. setbacks, height restriction etc.

Planning area/ zone

Additional Town Planer District Thane

Developmental controls

Additional Town Planer District Thane

Zoning regulations

D Zone (Industrial)

Comment on the surrounding land uses and adjoining properties in terms of uses.

Industrial and Agriculture

Comment on demolition proceedings if any

Not observed

Comment on compounding/ regularization proceedings

Nil

Any other aspect

Nil

Document details and legal aspects of property

Ownership Documents

Sale Deed

Name of the Owners

G K Founders Private Limited

Ordinary status of freehold or leasehold including restrictions on transfer

Freehold Land

Agreement of easement if any

Notification of acquisition if any

Notification of road widening if any

Heritage restriction is any

Comment on transferability of the property ownership

Yes can be transferred

Comment on existing mortgages/ charges/ encumbrances on the property

Mortgaged to State Bank of India

Comment on whether the owners of the property have issued any guarantee (personal or corporate) as the case may be

Details are with owner

Building plan sanction:

Authority approving the plan

Name of the office of the Authority

Any violation from the approved building plan

Additional Town planner Thane District

Whether property is Agricultural Land is yes any conversion is contemplated

Whether the property is SAFAESI complaint

Yes

Whether entire piece of land on which the unit is set up / property is situated has been mortgaged or to be mortgaged

Details with the owner

Qualification in TIR/ mitigation suggested if any

Any other aspect

Economic Aspects of the Property

Reasonable letting/ rental value

Not Applicable

If property is occupied by tenant

- Number of tenants

- Since how long (tenant-wise)

- Status of tenancy right – Rent received per month (tenant-wise) with a comparison of existing market rent

Not Applicable

Taxes and other outings

As per bill

Property Insurance

As per Insurance policy

Monthly maintenance charges

As per bill

Security charges

As per bill

Any other aspect

Nil

Socio-cultural aspects of the Property

Description account of the location of the property in terms of social structure of the area, population, social stratification, regional origin, economic level, location of slums, squatter settlements nearby etc.

Industrial, Agricultural, Rural and

Whether property belongs to social infrastructure like hospital, school, old age homes etc.

Functional and Utilitarian aspects of the Property

Description of the functionality and utility of the property in terms of:

Space allocation

Storage Spaces

Yes

Utility spaces provided within the building

Yes

Car parking facility

Yes

Balconies etc.

Any other aspect

Nil

Infrastructure Availability

Description of aqua infrastructure availability in terms of

Water supply

Yes, from Borewell

Sewerage / sanitation system underground or open

Yes, Septic Tank

Storm water drainage

Not Provided

Description of other physical infrastructure facilities viz.

Solid waste management

Provided

Electricity

Provided

Road and public transport connectivity

Average

Availability of other public utilities nearby

Limited

Social infrastructure in terms of

School

Available about 10.00 to 12.00 km

Medical facilities

Available about 10.00 to 12.00 km

Recreational facility in terms of parks and open space

Available about 10.00 to 12.00 km

Marketability of the Property

Marketability of the property in terms of

Locational attributes

Average

Scarcity

Demand and supply of the kind of subject property

Poor

Comparable sale prices in the locality

Rs. 1200/- to 1600/- per Sq. Mt. for Land Area

Any other aspect which has relevance on the value or marketability of the property

Engineering and Technology aspects of the Property

Type of construction

This is Load Bearing structure

Material and technology used

RMC, Bricks, C.C. Blocks and M.S. Sheets

Specifications

Nil

Maintenance issues

Satisfactory

Age of the building

Is 03 years old

Total life of the building

About 42 years with proper care and maintenance

Extent of deterioration

Structural safety

Protection against natural disaster viz. earthquakes

Not provided

Visible damage in the building

System of air-conditioning

Individual

Provision of fire fighting

Provided

Copies of the plan and elevation of the building to be included

Not made available

Environmental factors

Use of environment friendly building materials, green building techniques if any

Provision of rain water harvesting

Yes

Use of solar heating and lightening systems etc.

Presence of environmental pollution in the vicinity of the property in terms of industry heavy traffic etc

Yes

Architectural and aesthetic quality of the Property

Description account on whether the building is modern, old fashioned, plain looking or decorative, heritage value, presence of landscape elements etc.

Industrial Building

SUMMARY OF VALUATION

Land = Rs. 660/- per Sq. Mt. in 2015 as per ready reckenor.

Land Area	9310.00 Sq. Mt. x 1500/- = Rs. 13.965 Million

Built up Area	2546.45 Sq. Mt. x Rs. 12500/- = Rs. 31.831 Million

Compound Wall with M.S. Gate and Security cabin	Rs. 0.500 Million

Land Levelling and Development	9310.00 Sq. Mt. x 150/- = Rs. 1.397 Million

Total Value	Rs. 47.693 Million

Fair Market Value	Rs. 47.693 Million

Realizable Value	Rs. 42.924 Million

Forced / Distress Sale Value	Rs. 38.154 Million

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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10252811	29/10/2010	30,000,000.00	INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED	CITY SME CENTER, RADHIKA ARCADE, NUPUR THEATRE, COMPLEX, JALNA ROAD, AURANGABAD, AURANGABAD, MAHARASHTRA - 431003, INDIA	A98088206
2	10174412	08/03/2011 *	268,000,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, NEAR CHINCHOLI PHATAK, S.V. ROAD, MALAD WEST, MUMBAI, MAHARASHTRA - 400064, INDIA	B10835437
3	10174414	08/03/2011 *	268,000,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, NEAR CHINCHOLI PHATAK, S.V. ROAD, MALAD WEST, MUMBAI, MAHARASHTRA - 400064, INDIA	B10837326
4	90243743	03/02/2005 *	50,000,000.00	STATE BANK OF INDIA	M.I.D.C. ANDHERI E BR. PLOT NO B-1 MIDC IND. AREA, CENTRAL ROAD ANDHERI E, MUMBAI, MAHARASHTRA - 400093, INDIA	-
5	90241049	30/01/2004 *	30,000,000.00	LORD KRISHNA BANK LIMITED	J.B. NAGAR ANDHERI KURLA ROAD, ANDHERI E, MUMBAI, MAHARASHTRA - 400059, INDIA	-
6	90241047	21/10/2003	30,000,000.00	LORD KRISHNA BANK LIMITED	J.B. NAGAR ANDHERI KURLA ROAD, ANDHERI E, MUMBAI, MAHARASHTRA - 400059, INDIA	-
7	90223283	13/09/2001	5,440,000.00	BOMABY MERCANTILE CO-OP BANK LIMITED	KURLA BRANCH, MUMBAI, MAHARASHTRA, INDIA	-
8	90226742	12/09/2001	9,440,000.00	BOMABY MERCANTILE CO-OP BANK LIMITED	WESTERN REGION, 78; M.A. ROAD, MUMBAI, MAHARASHTRA - 400003, INDIA	-
9	90222972	31/12/1998	470,000.00	BOMABY MERCANTILE CO-OP BANK LIMITED	WESTERN REGION, 78; M.A. ROAD, MUMBAI, MAHARASHTRA - 400003, INDIA	-
10	90222256	26/11/1993	2,500,000.00	BOMABY MERCANTILE CO-OP BANK LIMITED	WESTERN REGION, 78; M.A. ROAD, MUMBAI, MAHARASHTRA - 400003, INDIA	-
11	90221636	26/11/1997 *	1,000,000.00	BOMABY MERCANTILE CO-OP BANK LIMITED	WESTERN REGION, 78; M.A. ROAD, MUMBAI, MAHARASHTRA - 400003, INDIA	-
12	90221576	03/03/1989	1,350,000.00	BOMABY MERCANTILE CO-OP BANK LIMITED	78; M. A. ALI, MUMBAI, MAHARASHTRA, INDIA	-

* Date of charge modification

CHANGE OF ADDRESS:

The Registered Office of the Company has been shifted from Ranka House, Bail Bazar, Kurla (West), Mumbai - 400070, Maharashtra, India to the present address w.e.f.28.10.2013

FIXED ASSETS:

· Plant and Machinery

· Electrical Installation

· Furniture and Fixture

· Vehicles

· Computer

· Tools and Equipment

· Other Equipment

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. 63.38
UK Pound	1	Rs. 97.65
Euro	1	Rs. 70.43

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	KIN

Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		43

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

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

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