MIRA INFORM REPORT

Report No. :	327607
Report Date :	29.06.2015

IDENTIFICATION DETAILS

Name :	SWASTIK BIO ENERGY

Registered Office :	Plot No. 80, Nirmal Industrial Park, Infront of Old GIDC, Gozariya, Taluka and District Mehsana - 382825, Gujarat
Tel. No.:	91-9327356487 (Mr. Kalpesh Kumar Nanjibhai Patel)

Country :	India

Financials (as on) :	--

Date of Incorporation :	21.10.2014

Capital Investment / Paid-up Capital :	Not Divulged

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	ACRFS8541B

Legal Form :	Partnership Concern with an Unlimited Liability of the Partners

Line of Business :	Manufacturing of Bio Coal Products.

No. of Employees :	9 (Approximately) [(In office:2) + (In factory: 7)]

RATING & COMMENTS

MIRA’s Rating :

RATING	STATUS	PROPOSED CREDIT LINE
NB	New Business

Status :	New Concern

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is a new partnership concern incorporated on 21^st October 2014, and it is yet to establishing itself gradually. Mr. Kalpesh Patel, partner has provided general information to us and claimed that the concern will start its business operations from July, 2015. Payments are reported to be unknown. The concern can be considered for business dealing on a safe and secure 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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Kalpesh Kumar Nanjibhai Patel
Designation :	Partner
Contact No.:	91-9327356487
Date :	26.06.2015

LOCATIONS

Registered Office/ Factory :	Plot No. 80, Nirmal Industrial Park, Infront of Old GIDC, Gozariya, Taluka and District Mehsana - 382825, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-9004049516 (Mr. Sanjay Badala) 91-9327356487 / 9157496197(Mr. Kalpesh Kumar Nanjibhai Patel)
Fax No.:	Not Available
E-Mail :	trilokpackadhesives@gmail.com
Area :	30000 Sq. Ft.
Location :	Owned

PARTNERS

Name :	Mr. Kalpesh Kumar Nanjibhai Patel
Designation :	Partner
Address :	B/1/203, Himmatsingh Park, Near Ashapura Mata Mandir, Vapi, Valsad, Gujarat, India
Date of Birth/Age :	11.02.1976
Qualification :	B. Sc
Date of Appointment :	21.10.2014
Experience :	17 Years
PAN No.:	AJVPP6534C

Name :	Mr. Mohan Shivdasbhai Patel
Designation :	Partner
Address :	199, Station Vistar, Degam, Taluka Chikhli, Navsari, Gujarat, India
Date of Birth/Age :	28.10.1978
Date of Appointment :	21.10.2014
Qualification :	B.A.
Experience :	15 Years
PAN No.:	ADXPP9244M

Name :	Mr. Vinod Kumar Shivdasbhai Patel
Designation :	Partner
Address :	199, Station Vistar, Degam, Taluka Chikhli, Navsari, Gujarat, India
Date of Birth/Age :	26.10.1980
Date of Appointment :	21.10.2014
Qualification :	B.A.
Experience :	13 Years
PAN No.:	AGKPP9267A

Name :	Mr. Harshit Pareshbhai Patel
Designation :	Partner
Address :	105, Dwarka Flats, Opposite, Revati Tower, Satellite, Ahmedabad, Gujarat, India
Date of Birth/Age :	20.01.1992
Date of Appointment :	21.10.2014
Qualification :	B.E. (E.C.)
Experience :	Fresher
PAN No.:	BKUPP1053K

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of manufacturing of Bio Coal Products.

Products :	Brackets White Coal

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :	Not Divulged

Terms :	Not Divulged

PRODUCTION STATUS

PARTICULARS	Unit	Licensed Capacity	Installed Capacity	Actual Production
Bio Coal or (Brackets) or (White Coal)	MT	--	800 month	600 month
Bio Coal	Tones	--	12000 per annum	--

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

End Users

Reference :	WellKnown Polysters Private Limited
Address :	Vapi, Gujarat, India
Name of the Person :	Not Divulged
Contact No.:	91-9909990741
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Particulars	Address	Contact No.:
Bhilosa Industries Private Limited	Silvasa	91-8347770255 (Mr. Hasmukha Patel)
Amigo Industries	Vapi, Gujarat, India	91-9377030989 (Mr. Kanaiyalal Agrawal)
Sigma Containers Private Limited	---	---
Shah Packwell Industries	Bhilad	91-9824000883 (Mr. Kapoorbhai)

No. of Employees :

9 (Approximately) [(In office:2) + (In factory: 7)]

Bankers :

Banker Name	Bank of India
Branch Address	Vapi Main Branch
Person Name (With Designation)	A K Verma [Senior Branch Manager]
Contact Number	91-260-2463165/ 2465593
Name of Account Holder	Swastik Bio Energy
Account Number	290420110000394
Account Since (Date/Year of Account Opening)	15.12.2014
Average Balance Maintained (If Possible)	Rs. 0.100 Million
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Satisfactory
Remarks (If any)	Customer has opened account in December 2014 and conduct of the account is running satisfactory.

HDFC Bank Limited, Vapi, Gujarat, India

Cash Credit = Rs. 120.000 Million

Bank of Baroda, Chikhali, Gujarat, India

Auditors :
Name :	Sanjay Badala and Associates Chartered Accountants
Address :	Vapi, Gujarat, India
Mobile No.:	91-9004049516

Memberships :	--

Collaborators :	--

Sister Concern :	Trilok Pack and Adhesives Address : Sarigam, Valsad – 396195, Gujarat, India Line of Business: Manufacturer of Paper Adhesives. Om Timber Mart Address : Chikhli, Gujarat, India Line of Business: Manufacturer of Wood Mill

CAPITAL STRUCTURE

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

FINANCIAL DATA

[all figures are in Rupees Million]

NEW BUSINESS

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

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	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	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	-----
23	Financials, if provided	No
24	Capital in the business	No
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last three years	No
27	Reasons for variation <> 20%	------
28	Estimation for coming financial year	Yes
29	Profitability for last three years	No
30	Major shareholders, if available	No
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	-----
33	Market information	-----
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

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COST OF PROJECT

[RS. IN MILLION]

SR. NO.	PARTICULARS	ALREADY INCURRED	TO BE INCURRED	TOTAL COST
A	Cost of Land including development	0.000	2.819	2.819
B	Building and Other Civil Works	0.000	6.364	6.364
C	Plant and Machinery 1. Indigenous 2. Imported	0.000 0.000	6.012 0.000	6.012 0.000
D	Essential Tools Spares and Accessories	0.000	0.000	0.000
E	Testing Equipments	0.000	0.000	0.000
F	Misc. Fixed Assets	0.000	0.250	0.250
G	Erection/ Installation Charges	0.000	0.000	0.000
H	Preliminary Expenses	0.000	0.250	0.250
I	Pre-operative Expenses	0.000	0.000	0.000
J	Provision for contingencies 1. Building 2. Plant and Machinery 3. Other fixed assets	0.000 0.000 0.000	0.000 0.000 0.000	0.000 0.000 0.000
K	Margin for working capital reqd.	0.000	1.155	1.155
	Total	0.000	19.225	19.225

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MEANS OF FINANCE

[RS. IN MILLION]

SR. NO.	PARTICULARS	AMOUNT ALREADY RAISED	AMOUNT PROPOSED TO BE RAISED	TOTAL
A.	Capital (Specify resources, contributing capital)	0.000	5.000	5.000
B.	Reserves	0.000	0.000	0.000
C.	Term Loans (give full Particulars)
	i. Term Loan	0.000	6.478	6.478
	ii. Construction Loan	0.000	3.818	3.818
D.	Unsecured Loans	0.000	3.929	3.929.
E.	Subsidiary/ seed capital	0.000	0.000	0.000
F.	Others	0.000	0.000	0.000
	Total	0.000	19.225	19.225

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ASSESSMENT OF WORKING CAPITAL

OPERATING STATEMENT

[RS. IN MILLION]

Sr. No.	PARTICULARS	ESTIMATED	PROJECTED YEARS
		31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
1.	Gross Income
i.	Domestic Sales	0.000	35.294	42.259	43.150	43.750	44.350
ii.	Export Sales	0.000	0.000	0.000	0.000	0.000	0.000
	Total	0.000	35.294	42.259	43.150	43.750	44.350
2.	Less: Excise duty	0.000	0.000	0.00	0.000	0.000	0.000
3.	Net sales (1-2)	0.000	35.294	42.259	43.150	43.750	44.350
4.	% age rise(+) or fall (-) in net sales turnover as compared to previous year	--	--	--	--	--	--
5.	Cost of Sales	--	--	--	--	--	--
i.	Raw Material (including stores and other items used in the process of manufacture)	--	--	--	--	--	--
a.	Imported	0.000	0.000	0.000	0.000	0.000	0.000
b.	Indigenous	0.000	26.374	29.820	30.240	30.660	31.080
ii.	Other Spares
a.	Imported	0.000	0.000	0.000	0.000	0.000	0.000
b.	Indigenous	0.000	0.000	0.000	0.000	0.000	0.000
iii.	Power and Fuel	0.000	2.327	2.556	2.574	2.595	2.610
iv.	Direct labour (factory wages and salaries)	0.000	2.505	3.006	3.306	3.637	4.001
v.	Other mfg. expenses	0.000	0.963	1.065	1.080	1.095	1.110
vi.	Depreciation	0.000	1.932	1.674	1.451	1.260	1.094
vii.	Sub-total (i) to (vi)	0.000	34.101	38.121	38.651	39.244	39.895
viii.	Deduct: Closing stock-in-process	0.000	0.000	0.000	0.000	0.000	0.000
	Sub-Total	0.000	34.101	38.121	38.651	39.244	39.895
ix.	Deduct: Closing stock-in-process	0.000	0.000	0.000	0.000	0.000	0.000
x.	Cost of production	0.000	34.101	38.121	38.651	39.244	39.895
xi.	Add: Opening stock of finished goods	0.000	0.000	2.681	3.261	3.372	3.446
xii.	Deduct Closing stock of Finished goods	0.000	2.681	3.261	3.372	3.446	3.521
xiii.	Sub-total (Total cost of sales)	0.000	31.420	37.541	38.540	39.170	39.820
6.	Selling General and Administrative Exp.	0.000	0.000	0.000	0.000	0.000	0.000
7.	Sub-Total (5+6)	0.000	31.420	37.541	38.540	39.170	39.820
8.	Operating profit before interest (3-7)	0.000	3.874	4.718	4.610	4.580	4.530
9.	Interest	0.000	1.270	1.810	1.666	1.504	1.316
10.	Operating profit after interest (8-9)	0.000	2.604	2.908	2.944	3.076	3.214
11.
i.	Add other non-operating income
	(a)
	(b) Other than above	--	--	--	--	--	--
	Sub Total (Income)	--	--	--	--	--	--
ii.	Deduct other non-operating expenses
	(a.)
	(b) Other than above	--	--	--	--	--	--
	Sub Total (Expenses)
iii.	Net of other non-operating Income/Expenses	0.000	0.000	0.000	0.000	0.000	0.000
12.	Profit Before Tax/Loss [10+11(iii)]	0.000	2.604	2.908	2.944	3.076	3.214
13.	Provision for taxes	0.000	0.784	0.875	0.886	0.926	0.967
14.	Net Profit/Loss (12-13)	0.000	18.20	20.33	20.50	21.50	22.47
15.
(a)	Equity dividend paid	0.000	0.000	0.000	0.000	0.000	0.000
(b)	Dividend Rate	0.000	0.000	0.000	0.000	0.000	0.000
16.	Retained Profit (14-15)	0.000	1.820	2.033	2.058	2.150	2.247
17.	Retained Profit/Net Profit (%)	0.00	10.00	10.00	10.00	10.00	10.00

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ANALYSIS OF BALACE SHEET

[RS. IN MILLION]

Sr. No	PARTICULARS	ESTIMATED	PROJECTED YEARS
		31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
Current Liabilities
1.	Short Term borrowings from banks (including bills purchased discount and excess borrowings placed on repayment basis)	--	--	--	--	--	--
i)	From applicant bank	0.000	4.000	4.000	4.000	4.000	4.000
ii)	From other banks	0.000	0.000	0.000	0.000	0.000	0.000
iii)	(Of which BP and BD)	0.000	0.000	0.000	0.000	0.000	0.000
	Sub Total(A)	0.000	4.000	4.000	4.000	4.000	4.000
2.	Short term borrowing from others	0.000	0.000	0.000	0.000	0.000	0.000
3.	Sundry creditors	0.000	1.905	2.007	2.018	2.046	2.074
4.	Advance payments from customers/deposits from dealers	0.000	0.000	0.000	0.000	0.000	0.000
5.	Provision for taxation	0.000	0.784	0.875	0.886	0.926	0.967
6.	Dividend payable	0.000	0.000	0.000	0.000	0.000	0.000
7.	Other statutory liabilities (due within one year)	0.000	0.000	0.000	0.000	0.000	0.000
8.	Deposits/Instalments of term loans/DPGs/debentures etc. (due within one years)	0.000	0.990	1.134	1.296	1.484	1.697
9.	Other current liabilities and provision (Due within 1 year) (Specify major items)	0.000	0.182	0.190	0.196	0.205	0.216
	Sub-Total (B)	0.000	3.861	4.206	4.396	4.661	4.954
10.	Total current liabilities (Total 1 to 9)	0.000	7.861	8.206	8.396	8.661	8.954
Term Liabilities
11.	Debentures(not maturing within one year)	0.000	0.000	0.000	0.000	0.000	0.000
12.	Preference Shares (redeemable after one year)	0.000	0.000	0.000	0.000	0.000	0.000
13.	Term loans (excluding instalments payables within one years)	0.000	9.004	7.870	6.574	5.090	3.393
14.	Deferred Payment Credits (excluding instalments due within one year)	0.000	0.000	0.000	0.000	0.000	0.000
15.	Terms deposits (repayment after 1 year)	0.000	3.929	3.929	3.929	3.929	3.929
16.	From directors and relatives	0.000	0.000	0.000	0.000	0.000	0.000
17.	Other terms liabilities	0.000	0.000	0.000	0.000	0.000	0.000
18.	Total term liabilities (Add 11 to 17)	0.000	12.933	11.799	10.503	9.019	7.322
19.	Total Outside Liabilities (10+18)	0.000	20.794	20.005	18.899	17.680	16.276
Net Worth
20.	Ordinary share capital	5.000	6.820	8.854	10.912	13.062	15.310
21.	General reserve	--	--	--	--	--	--
22.	Revaluation reserve	--	--	--	--	--	--
23.	Other reserves (excluding provision)	--	--	--	--	--	--
24.	Surplus (+) or deficit (-) profit and loss account	0.000	0.000	0.000	0.000	0.000	0.000
25.	Net worth	5.000	6.820	8.854	10.912	13.062	15.310
26.	Total Liabilities (19+25)	5.000	27.614	28.859	29.811	30.742	31.586
Current Assets
27.	Cash and bank balances	0.250	0.050	0.236	0.513	0.598	0.468
28.	Investment (other than long-term investment)
i.	Government and other Trust securities	0.000	0.000	5.000	2.200	4.000	5.500
ii.	Fixed deposits with banks	0.000	0.000	0.000	0.000	0.000	0.000
29.
i.	Receivables other than deferred and exports (including bills purchased and discounted by banks)	0.000	5.147	6.163	6.293	6.380	6.468
ii.	Export receivables (including bills purchased/ discounted by banks)	0.000	0.000	0.000	0.000	0.000	0.000
30.	Investments of deferred receivables (due to within one year)	0.000	0.000	0.000	0.000	0.000	0.000
31.	Inventory	--	--	--	--	--	--
i.	Raw material (including stores and other items in the process manufacture)25	--	--	--	--	--	--
	Imported	0.000	0.000	0.000	0.000	0.000	0.000
	Indigenous	0.000	2.198	2.485	2.520	2.555	2.590
ii.	Stock-in process	0.000	0.000	0.000	0.000	0.000	0.000
iii.	Finished goods	0.000	2.681	3.261	3.372	3.446	3.521
iv.	Other consumables spares
	Imported	0.000	0.000	0.000	0.000	0.000	0.000
	Indigenous	0.000	0.000	0.000	0.000	0.000	0.000
32.	Advance to suppliers of raw material stores/spares	0.000	0.000	0.000	0.000	0.000	0.000
33.	Advances payment of taxes	0.000	0.000	0.000	0.000	0.000	0.000
34.	Other current assets (specify major items)	1.250	1.650	2.000	2.150	2.260	2.630
35.	Total Current Assets (add 27 To 34)	1.500	11.726	14.645	17.048	19.239	21.177
Fixed Assets
36.	Gross Block (land and building, machinery, cap. work-in-progress)	0.000	17.820	15.888	14.214	12.763	11.503
37.	Depreciation to date	0.000	1.932	1.674	1.451	1.260	1.094
38.	Net block	0.000	15.888	14.214	12.763	11.503	10.409
Other Non-Current Assets
39.	Investment/book debts/advances/deposits which are not current assets	--	--	--	---	--	--
i.	Investment in subsidiary companies/affiliates	0.000	0.000	0.000	0.000	0.000	0.000
	Others	0.000	0.000	0.000	0.000	0.000	0.000
ii.	Advances to supplier of capital goods and contractors	3.500	0.000	0.000	0.000	0.000	0.000
iii.	Deferred receivables (maturity exceeding one year)	0.000	0.000	0.000	0.000	0.000	0.000

iv.	Others	0.000	0.000	0.000	0.000	0.000	0.000
40.	Obsolete stock	0.000	0.000	0.000	0.000	0.000	0.000
41.	Other non-current assets including dues from directors	0.000	0.000	0.000	0.000	0.000	0.000
42.	Total other non-current assets (Total 39 to 41)	3.500	0.000	0.000	0.000	0.000	0.000
43.	Intangible assets (Patents, goodwill, preliminary expenses, bad/doubtful debts not provided for etc.)	0.000	0.000	0.000	0.000	0.000	0.000
44.	Total Assets (35+38+42+43)	5.000	27.614	28.859	29.811	30.742	311.586
45.	Tangible Net Worth (25-43)	5.000	6.820	8.854	10.912	13.062	15.310
46.	Net working capital [(18+25)-(38+42+43)] Tally With	1.500	3.865	6.439	8.652	10.578	12.223
	Net Working Capital (35-10)	1.500	3.865	6.439	8.652	10.578	12.223
47.	Current Ratio (Items 35/10)		0.149	0.178	0.203	0.222	0.237
48.	Total Outside Liabilities/ Tangible Net Worth (19/45)		0.305	0.226	0.173	0.135	0.106
Additional Information
A)	Arrears of depreciation	--	--	--	--	--	--
B)	Contingent liabilities	--			--	--	--
a)	Arrears of cumulative dividends	--	--	--	--	--	--
b)	Gratuity liability not provided for	--	--	--	--	--	--
c)	Disputed excise/customs/tax/liabilities	--	--	--	--	--	--
d)	Bill accepted/guarantees extended to accommodate associate/sister concerns or other third parties	--	--	--	--	--	--
e)	Other liabilities not provided for	--	--	--	--	--	--

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FUNDS FLOW STATEMENT

[RS. IN MILLION]

Sr. No.	PARTICULARS	ESTIMATED	PROJECTED YEARS
		31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
1.	Sources	0.000	0.000	0.000	0.000	0.000	0.000
a.	Net profit (After tax)	0.000	1.820	2.033	2.058	2.150	2.247
b.	Depreciation	0.000	1.932	1.674	1.451	1.260	1.094
c.	Increase in capital	0.000	0.000	0.000	0.000	0.000	0.000
d.	Increase in Term Liabilities (Including Public deposits)	0.000	12.933	0.000	0.000	0.000	0.000
e.	Decrease in	0.000	0.000	0.000	0.000	0.000	0.000
i)	Fixed Assets	0.000	0.000	0.000	0.000	0.000	0.000
ii)	Other non-current assets	0.000	3.500	0.000	0.000	0.000	0.000
f.	Other	0.000	0.000	0.000	0.000	0.000	0.000
g.	Total	0.000	20.185	3.707	3.509	3.410	3.341
2.	Uses	0.000	0.000	0.000	0.000	0.000	0.000
a.	Net loss	0.000	0.000	0.000	0.000	0.000	0.000
b.	Decrease in term liabilities (Including public deposits)	0.000	0.000	1.134	1.296	1.484	1.697
c.	Increase in:	0.000	0.000	0.000	0.000	0.000	0.000
i)	Fixed assets	0.000	17.820	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
d.	Dividend payments	0.000	0.000	0.000	0.000	0.000	0.000
e.	Others	0.000	0.000	0.000	0.000	0.000	0.000
f.	Total	0.000	17.820	1.134	1.296	1.484	1.697
3.	*Long-term Surplus(+)/ Deficit (-) (1-2) (as per details given below)**	0.000	2.365	2.573	2.213	1.926	1.644
4.	*Increase/decrease in current assets (as per details given below)**	0.000	10.226	2.919	2.403	2.191	1.938
5.	Increase/decrease in current liabilities other than bank borrowings	0.000	3.861	0.345	0.190	0.265	0.293
6.	Increase/decrease in working capital gap	0.000	6.365	2.574	2.213	1.926	1.645
7.	Net surplus (+)/ deficit (-) (Difference of 3 & 6)	0.000	4.000	0.001	0.000	0.000	0.000
8.	Increase/decrease in:	0.000	0.000	0.000	0.000	0.000	0.000
i.	Bank borrowing	0.000	(4.000)	0.000	0.000	0.000	0.000
ii.	Net sales	0.000	35.294	6.965	0.891	0.600	0.600
	Break-up of (4)	0.000	0.000	0.000	0.000	0.000	0.000
i.	Increase/Decrease in:	0.000	0.000	0.000	0.000	0.000	0.000
a)	Raw materials	0.000	2.198	0.287	0.035	0.035	0.035
b)	Stock-in-progress	0.000	0.000	0.000	0.000	0.000	0.000
c)	Finished goods	0.000	2.681	0.580	0.111	0.074	0.075
ii.	Increase/decrease in:	0.000	0.000	0.000	0.000	0.000	0.000
a)	Exports	0.000	0.000	0.000	0.000	0.000	0.000
b)	Domestic	0.000	5.147	1.016	0.130	0.087	0.088
iii.	Increase/Decrease in stores spares	0.000	0.000	0.000	0.000	0.000	0.000
iv.	Increase/Decrease in other current assets	0.000	(0.200)	0.686	1.977	1.885	1.370

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COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITES

[RS. IN MILLION]

Sr. No.	PARTICULARS	ESTIMATED	PROJECTED YEARS
		31.03.2015	31.03.2016	31.03.2017	31.03.2018	31.03.2019	31.03.2020
A	Current Assets
1.	Raw Material (including stores and other items used in the process of manufacturing)
a.	Imported	0.000	0.000	0.000	0.000	0.000	0.000
	(Month’s Consumption)	--	--	--	--	--	--

b.	Indeginous		2.198	2.485	2.520	2.555	2.590
	(Month’s Consumption)

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.	Indeginous	0.000	0.000	0.000	0.000	0.000	0.000
	(Month’s Consumption)

3.	Stock-in-progress	0.000	0.000	0.000	0.000	0.000	0.000
	(Month’s cost of sales)		0.000	0.000	0.000	0.000	0.000

4.	Finished Goods	0.000	2.681	3.261	3.372	3.446	3.521
	(Month’s Cost of sales)		0.109	0.109	0.109	0.109	0.109

5.	Receivables other than export and deferred receivables (including bills purchased and discounted by bankers)	0.000	5.147	6.163	6.293	6.380	6.468
	(Month’s domestic sales)	--	0.175	0.175	0.175	0.175	0.175

6.	Export receivables (including bills purchased and discounted)	0.000	0.000	0.000	0.000	0.000	0.000
	(Moth’s export sales)

7.	Advances to supplier of raw materials and stores/spares, consumables	0.000	0.000	0.000	0.000	0.000	0.000

8.	Other current assets including cash and bank balance and deferred receivables due within one year (specify major items)	1.500	1.700	2.736	4.863	6.858	8.598

9.	Total current assets (to agree with item 35 in for III)	1.500	11.726	14.645	17.048	19.239	21.177

B.	Current Liabilities (Other than bank borrowing for working capital)
10.	Creditors for purchase of raw materials, stores and consumables spares	0.000	1.905	2.007	2.018	2.046	2.074
	(Month’s purchase)		0.080	0.080	0.080	0.080	0.080

11.	Advances from customers/deposits from trader	0.000	0.000	0.000	0.000	0.000	0.000

12.	Statutory liabilities	0.000	0.784	0.875	0.886	0.926	0.967

13.	Other current liabilities (Specify major items)

	Short-term borrowing, unsecured loans, dividend payable, instalments of TL. DPG, Public deposits, debentures, etc.	0.000	1.172	1.324	1.492	1.689	1.913

14.	Total	0.000	3.861	4.206	4.396	4.661	4.954
	(To agree with sub-total B-Form III)

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VALUATION REPORT

[RS. IN MILLION]

Purpose for which valuation is made

To arrive at fair market value for financial assistance from the Bank

Date as on which valuation is made

04.06.2015

Name of the owner / purchaser

Kalpesh Kumar Nanjibhai Patel – 33.33%
Mohan Shivdasbhai Patel – 16.67%
Vinod Kumar Shivdasbhai Patel – 16.67%
Harshit Pareshbhai Patel – 33.33%

If the property is under joint ownership

Joint

Brief description of the property

Industrial Premises. This Premises is under construction

Location street, Ward No.

Plot No.:80, Revenue Survey No.:1341, 1342, 1343/A paiki, Nirmal Industrial Park, Village Gozariya, Taluka and District Mehsana

Survey / Plot No. of land

Plot No.:80, Revenue Survey No.:1341, 1342, 1343/A paiki

Is the property situation in area

Surrounded by Industrial Area

Classification of locality

Middle Class Industrial Area

Proximity to civic amenities

All amenities within 15.0Km. of Radius

Means and proximity to surface communication

All vehicles

Land

2658.36 Sq.mt. i.e. 3178 Yard

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

Attached

Roads streets or lanes on which the land is abutting

Near Balva – Gozaria Road

Is it free hold or leasehold land

This is lease hold land of GIDC. See Latest Title Clear Certificate for ownership, any encumbrance and legal aspects refer search report from advocate

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

For manufacturing of Cotton Yearn

Are there any agreements of assessments?

Not Available

Are there landfall in and are included in any Town Planning Scheme or any development plan of Government or any statutory body?

GIDC

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

Not Available

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

Not Available

Attach as dimensioned site plan Improvements

Yes

Attach plan and elevations of all structures standing on the land and a layout plan

Attached

Furnish technical details of the building on a separate sheet

Attached

Is the building owner-occupied/tenanted/both?

Owner-occupied

If partly owner-occupied, specify portion and extent of area under owner-occupation

What is the F.S.I. permissible

F.S.I. is according to prevailing by Laws

Name of tenants/lessees/license etc.

GIDC has given Shree Hari Om Industrial Co-Operative Estate Limited they have made sales deed to Swastik Bio Energy on 13.11.2014

Are any of the occupants related to the owners

Has the tenant to bear the whole or part to the cost of repairs and maintenance?

Not Known

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

Owner has to bear it

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

Is any dispute between landlord and tenant regarding rent pending in a court of Law?

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

Not known

Give instance of sales immoveable property in the locality on a separate sheet

In absence of instance of sales market survey is done

Land rate adopted in this valuation

Market rate Rs.3000/- Sq. Yard

If sales instances are not available or not relied upon, the basis of arriving to the land rate

Local inquiry

Year of commencement of construction and year of completion

2015 [Under Construction]

TECHNICAL DETAILS

No. of floors and height of each floor

This premises is ground floor, with 5 mt.ht.

Plinth are floor wise

Shed : 1095 Sq. yard

Year of construction

2015 (under construction)

Estimated future life

50 Years

Type of construction

Steel Structure

Type of foundation

R.C.C. type foundation

Partitions

Doors and windows (Floor-wise)

Flooring (Floor-wise)

Paver Blocks Flooring

Finishing

Open from the all sides

Roofing and Terracing

Corrugated Specialized Powder coated G.I. Sheet

Special architectural or decorative features

Internal writing

Proposed : Good Quality Writing

Class of fitting

Proposed : Good Quality Fitting

Sanitary Installation

Proposed : Common Sanitary Blocks

Compound Wall

Yes

Overhead tank

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

Proposed : Yes

Sewage disposal

Proposed : Khal-Kuva

The whole property, which is to be valued including land

Plot No.:80, Revenue Survey No.:1341, 1342, 1343/A paiki, Nirmal Industrial Park, Village Gozariya, Taluka and District Mehsana

The orientation of said property is as under

On North Side : Plot No.:79
On South Side : Open Land
On East Side : Society Road
On West Side : Plot No.78

MARKET VALUE

Looking to the location, planning, stage of the construction, distance from the main road and sub roads, material used in said property etc. and all other factors, which affects market value.

The value as per prevailing market rates of materials used there in as on date as under

Total Land Area Sq. Yard / Built-Up Area	Rate Per Sq. Yard	Total Amount [Rs. In Million]

3178.00 [A]	3000.000	9.534
Shed : 1095.00 [B]	4000.000	4.380

A VALUATION AS PER MARKET LAND RATE

Total A+B = Rs.9.534 Million + Rs.4.380 Million = Rs. 13.914 Million

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CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 63.60
UK Pound	1	Rs. 100.29
Euro	1	Rs. 71.23

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	SAN

Report Prepared by :	JYO / SNT

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.

MIRA INFORM REPORT

Unit