MIRA INFORM REPORT

Report No. :	310035
Report Date :	03.03.2015

IDENTIFICATION DETAILS

Name :	KRISHNA COTTON INDUSTRIES

Registered Office :	Plot No. 100/8/2, GIDC Rampur Road, Dhandhuka, Ahmedabad – 382460, Gujarat

Country :	India

Financials (as on) :	--

Date of Establishment :	16.06.2013

Capital Investment :	Not Available

PAN No.: [Permanent Account No.]	ASNPG8697G

Legal Form :	Sole Proprietary Concern

Line of Business :	Manufacturer of Cotton and Cotton Seeds.

No. of Employees :	15 (4 in Office and 11 in Factory) (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

RATING

STATUS

PROPOSED CREDIT LINE

26-40

Capability to overcome financial difficulties seems comparatively below average.

Small

Status :	Yet to commence its commercial operations

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is a relatively new business which has not yet commenced its commercial operations due to the facility is still under implementation during the year under review. Mr. Jadavbhai Sukhabhai Gamara, the proprietor provided information and claimed that the commercial operations are proposed to be tentatively commenced as on April 2015, after they receive funding from their bank. Business is active. Payment terms are unknown. In view of non-commencement of business activities, the concern can be considered for business dealings with caution by opting adequate securities and continuous monitoring of its activities is strongly recommenced.

NOTES :

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

ECGC Country Risk Classification List – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

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. Jadavbhai Sukhabhai Gamara
Designation :	Proprietor
Contact No.:	91-9426539541
Date :	26.02.2015

LOCATIONS

Registered Office/ Factory :	Plot No. 100/8/2, GIDC Rampur Road, Dhandhuka, Ahmedabad – 382460, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-9426539541 [Mr. Jadavbhai Sukhabhai Gamara]
Fax No.:	Not Available
Area :	4906 Sq. Mt.
Location :	Owned

SOLE PROPRIETOR

Name :	Mr. Jadavbhai Sukhabhai Gamara
Designation :	Proprietor
Address :	Mirawadi, Dhandhuka, Ahmedabad, Gujarat, India
Date of Birth/Age :	01.06.1967
Qualification :	HSC
Experience :	20 Years
Background :	Subject is established fir manufacturing for cotton and cotton seeds, being promoted by experienced promoters in line of trading and manufacturing of cotton and cotton seeds. All the promoters are well-experienced in this line and belong to one family they have doing this business since last 10 years.
PAN No.:	ASNPG8697G
Voter ID :	LTJ1156116

BUSINESS DETAILS

Line of Business :	Manufacturer of Cotton and Cotton Seeds.

Brand Names :	--

Agencies Held :	--

Exports :
Products :	--
Countries :	--

Imports :
Products :	--
Countries :	--

Terms :
Selling :	Cash on delivery

Purchasing :	Advance

PRODUCTION STATUS

SR. NO.

ITEMS OF MANUFACTURE

CAPACITY PER ANNUM

Cotton Ginning and Process

25 Tonne / M Tonne

GENERAL INFORMATION

Suppliers :

Reference:	Chetak Industries
Name of the Person (Designation):	Not Divulged
Contact Number:	91-2715-235108 [Constantly Ringing]
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Reference:	M.K. Enterprises
Name of the Person (Designation):	Mr. Maulik Patel
Contact Number:	91-9722741725
Since how long known:	First time they will deal
Maximum limit dealt:	--
Experience:	--
Remark	Mr. Maulik informed our quotation is final. We will be supplying machine to them, we know them as they are our relatives.

Customers :

Wholesalers, Retailers and Others

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

No. of Employees :

15 (4 in Office and 11 in Factory) (Approximately)

Bankers :

Bank Name:	Bank of India
Branch:	Dhandhuka, Ahmedabad, Gujarat, India
Person Name (with Designation):	Mr. Amol Patil [Agri. Officer]
Contact Number:	91-9998246670
Name of Account Holder:	Krishna Cotton Industries
Account Number:	206620110000076
Account Since (Date/ Year of A/c Opening):	26.11.2014
Average Balance Maintained (Optional):	Rs. 0.100 Million
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	Self-Satisfactory
Remarks: --

Facilities :

Auditors :
Name :	Vimal Dani Chartered Accountant
Address :	Botad, Ahmedabad, Gujarat, India
Tel. No.:	91-9824245707

Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

Capital Investment :
Owned :	Not Available
Borrowed :	Not Available
Total :	Not Available

FINANCIAL DATA

[all figures are in Rupees Millions]

NOT AVAILABLE

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

LOCAL AGENCY FURTHER INFORMATION

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

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

COST OF PROJECT

(RS. IN MILLIONS)

PARTICULARS	AMOUNT IN MILLIONS

Promoters Capital	6.000

From Relatives	1.700

Loan from Bank
Term Loan	9.000

Total	16.700

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

MEANS OF FINANCE

(RS. IN MILLIONS)

PARTICULARS	AMOUNT IN MILLIONS

Land	0.500

Building	5.087

Machinery	7.293

G.E.B. Deposits	0.500

Margin for Working Capital	3.320

Total	16.700

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

CALCULATION OF BREAK EVEN POINT SALE

(RS. IN MILLIONS)

PARTICULARS	2014-15 Estimated	2015-16 Projected	2016-17 Projected	2017-18 Projected	2018-19 Projected	2019-20 Projected

Fixed Cost [Exc. of Depreciation and Finance Cost]	0.184	0.211	0.222	0.234	0.247	0.261

Fixed Depreciation and Finance Cost	1.242	2.404	1.988	1.600	1.235	0.899

Total Fixed Cost	1.426	2.615	2.210	1.833	1.482	1.161

Contribution in %	4.01	3.79	3.78	3.78	3.78	3.77

Before Depreciation and Finance Cost	4.584	5.562	5.865	6.187	6.541	6.929

BEP % of Sale	5.64	3.96	3.80	3.64	3.50	3.37

After Depreciation and Finance Cost	33.578	68.977	58.396	48.503	39.241	30.768

BEP % of Sale	43.75	49.13	37.81	28.55	21.00	14.97

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

RATIO ANALYSIS

(RS. IN MILLIONS)

PARTICULARS	2014-15 Estimated	2015-16 Projected	2016-17 Projected	2017-18 Projected	2018-19 Projected	2019-20 Projected

G P Ratio	3.78	3.64	3.64	3.64	3.64	3.65

N P Ratio	1.75	1.49	1.79	2.15	2.45	2.68

Sundry Creditors [Days]	3	3	3	3	3	3

Sundry Debtors [Days]	21	21	21	21	21	21

TOL / TNW [Times]	2.37	1.78	1.28	0.79	0.57	0.48

Interest Coverage [Times]	2.92	2.54	3.00	4.02	5.38	7.20

DSCR [Times]	2.29	1.47	1.61	1.85	2.17	3.79

Current Ratio	1.34	1.44	1.60	1.64	1.90	2.23

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

PROJECTED BALANCE SHEET

(RS. IN MILLIONS)

PARTICULARS	2014-15 Estimated	2015-16 Projected	2016-17 Projected	2017-18 Projected	2018-19 Projected	2019-20 Projected
SOURCES OF FUND
Capital	7.141	8.727	10.757	13.379	15.610	16.467

Unsecured Loan	1.700	1.500	1.500	0.000	0.000	0.000

LOANS
Secured Loan from Applicant
Bank T.L.	8.400	6.600	4.800	3.000	1.200	0.000

Cash Credit	6.000	6.000	6.000	6.000	6.000	6.000

Sundry Creditors	0.689	1.094	1.204	1.324	1.456	1.602

Other Liabilities	0.100	0.300	0.300	0.300	0.300	0.300

Total	24.030	24.221	24.561	24.003	24.566	24.369

APPLICATION OF FUND
Fixed Assets	12.079	10.584	9.289	8.166	7.192	6.347

G.E.B. Deposit	0.400	0.400	0.400	0.400	0.400	0.400

Current Assets
Sundry Debtors	3.119	5.385	5.923	6.516	7.168	7.884

Inventories	7.206	7.350	7.497	7.647	7.800	7.956

Cash and Bank Balances	1.226	0.502	1.452	1.274	2.006	1.781

Total	24.030	24.221	24.561	24.003	24.566	24.369

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

PROJECTED PROFITABILITY STATEMENT

(RS. IN MILLIONS)

PARTICULARS	2014-15 Estimated	2015-16 Projected	2016-17 Projected	2017-18 Projected	2018-19 Projected	2019-20 Projected

CAPACITY UTILISATION	30%	50%	55%	61%	67%	73%
Sales	81.322	140.387	154.431	169.879	186.872	205.565

Work Income	0.000	0.000	0.000	0.000	0.000	0.000

Closing Stock	7.206	7.350	7.497	7.647	7.800	7.956

Total	88.528	147.737	161.928	177.526	194.672	213.521

EXPENDITURE
Opening Stock	0.000	7.206	7.350	7.497	7.647	7.800

Purchases	83.815	133.136	146.443	161.081	177.182	194.893

Manufacturing Expenses	0.037	0.109	0.120	0.129	0.139	0.150

Labour Expenses	0.500	0.675	0.743	0.817	0.898	0.988

Electric Expenses	0.800	1.000	1.100	1.210	1.331	1.464

Packing Expenses	0.300	0.500	0.550	0.605	0.666	0.732

Administrative Expenses	0.114	0.168	0.184	0.202	0.223	0.245

Depreciation	0.801	1.495	1.295	1.123	0.974	0.845

Financial Charges	0.741	1.359	1.383	1.211	1.043	0.890

Profit (before Tax)	1.420	2.090	2.760	3.652	4.570	5.514

Total	88.528	147.737	161.928	177.526	194.672	213.521

Net Profit after Tax	1.141	1.586	2.031	2.622	3.231	3.857

Add: Interest on T.L.	0.441	0.909	0.693	0.477	0.261	0.054

Add: Depreciation	0.801	1.495	1.295	1.123	0.974	0.845

Total Cash Inflow	2.383	3.990	4.019	4.221	4.466	4.756

Loan installment + int. on T.L	1.041	2.709	2.493	2.277	2.061	1.254

Net Cash Inflow After

Repayment of Loan	1.342	1.281	1.526	1.944	2.405	3.502

D.S.C.R.	2.29	1.47	1.61	1.85	2.17	3.79

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

ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2014-15 Estimated	2015-16 Projected	2016-17 Projected	2017-18 Projected	2018-19 Projected	2019-20 Projected

1	Gross Sales
	- Domestic Sales	81.322	140.387	154.431	169.879	186.872	205.565

	- Other Income	0.000	0.000	0.000	0.000	0.000	0.000

	- Total Sales	81.322	140.387	154.431	169.879	186.872	205.565

2	Less: Excise Duty	0.000	0.000	0.000	0.000	0.000	0.000

3	Net Sales	81.322	140.387	154.431	169.879	186.872	205.565

4	%age rise (+) or fall (-) in net sales as compared to previous year	0.00	72.63	10.00	10.00	10.00	10.00

5	Cost of Sales
a	Raw Material including Stores
	Imported	0.000	0.000	0.000	0.000	0.000	0.000
	Indigenous	83.815	133.136	146.443	161.081	177.182	194.893

b	Other Spares
	Imported	0.000	0.000	0.000	0.000	0.000	0.000
	Indigenous	--	0.000	0.000	0.000	0.000	0.000

c	Power and Fuel	0.800	1.000	1.100	1.210	1.331	1.464

d	Direct Labour [Factory wages and salaries]	0.500	0.675	0.743	0.817	0.898	0.988

e	Other manufacturing expenses	0.337	0.609	0.670	0.734	0.804	0.882

f	Depreciation	0.801	1.495	1.295	1.123	0.974	0.845

g	Sub-total	86.254	136.915	150.250	164.964	181.190	199.073

h	Add: Opening stock in process	0.000	2.661	2.714	2.769	2.824	2.880

	Sub-total	86.254	139.576	152.964	167.732	184.014	201.953

i	Less: Closing stock in process	2.661	2.714	2.769	2.824	2.880	2.938

j	Cost of Production	83.592	136.861	150.196	164.908	181.133	199.015

k	Add: Opening stock of finished goods	0.000	4.545	4.636	4.729	4.823	4.920

	Sub-total	83.592	141.406	154.832	169.637	185.956	203.935

l	Less: Closing stock of finished goods	4.545	4.636	4.729	4.823	4.920	5.018

m	Cost of sales	79.047	136.771	150.103	164.814	181.037	198.917

6	Selling, General & Administrative Expenses	0.114	0.168	0.184	0.202	0.223	0.245

7	Sub-total	79.161	136.938	150.287	165.016	181.259	199.162

8	Operating Profit before Interest	2.161	3.449	4.143	4.863	5.613	6.403

9	Interest	0.741	1.359	1.383	1.211	1.043	0.890

10	Operating profit after Interest	1.420	2.090	2.760	3.652	4.570	5.514

11	Add: Other non-operating income
	(a) Misc. income	0.000	0.000	0.000	0.000	0.000	0.000
	(b) Excise duty draw back	0.000	0.000	0.000	0.000	0.000	0.000
	(c) Non-cash Income	0.000	0.000	0.000	0.000	0.000	0.000

	Subtotal (Income)	0.000	0.000	0.000	0.000	0.000	0.000

	Deduct: Other non-operating expense
	(a) Miscellaneous Expenses	0.000	0.000	0.000	0.000	0.000	0.000
	(b) Cash Expenses	0.000	0.000	0.000	0.000	0.000	0.000
	(c) Other Expenses	0.000	0.000	0.000	0.000	0.000	0.000
	(d) Preliminary Expenses w/off	0.000	0.000	0.000	0.000	0.000	0.000

	Subtotal (Expenses)	0.000	0.000	0.000	0.000	0.000	0.000

12	Profit before tax/loss	1.420	2.090	2.760	3.652	4.570	5.514

13	Provision for tax	0.279	0.504	0.730	1.030	1.339	1.657

14	Net Profit / (Loss)	1.141	1.586	2.031	2.622	3.231	3.857

15	(i) Withdrawals	0.000	0.000	0.000	0.000	1.000	3.000
	(ii) Dividend Rate	0.000	0.000	0.000	0.000	0.000	0.000

16	Retained Profit	1.141	1.586	2031	2.622	2.231	0.857

	Appropriation to Reserves	0.000	0.000	0.000	0.000	0.000	0.000

	Cash Accruals	1.942	3.081	3.326	3.744	4.205	4.702

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

ANALYSIS OF BALANCE SHEET

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2014-15 Estimated	2015-16 Projected	2016-17 Projected	2017-18 Projected	2018-19 Projected	2019-20 Projected

	CURRENT LIABILITIES
1	Short term borrowings from bank (incl. Bills purchased, discounted & excess borrowings placed on repayment basis)
	(i) From applicant bank	6.000	6.000	6.000	6.000	6.000	6.000
	(ii) From other banks	0.000	0.000	0.000	0.000	0.000	0.000
	(iii) of which BP & BD	0.000	0.000	0.000	0.000	0.000	0.000

	Sub-total (A)	6.000	6.000	6.000	6.000	6.000	6.000

2	Short term borrowings from others	0.000	0.000	0.000	0.000	0.000	0.000

3	Sundry Creditors - Trade	0.689	1.094	1.204	1.324	1.456	1.602

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	0.000	0.000	0.000	0.000	0.000

6	Dividend Payable	0.000	0.000	0.000	0.000	0.000	0.000

7	Other statutory liabilities (due within one year)	0.100	0.300	0.300	0.300	0.300	0.300

8	Deposits/Instalments of term loan/ DPGs/ Debentures etc. (due within one year)	1.800	1.800	1.800	1.800	1.200	0.000

9	Other current liabilities & Provisions (due within one year)	0.000	0.000	0.000	0.000	0.000	0.000

	Interest and Other charges accrued	0.000	0.000	0.000	0.000	0.000	0.000
	Commission Payable	0.000	0.000	0.000	0.000	0.000	0.000

	Other Current Liabilities	0.000	0.000	0.000	0.000	0.000	0.000

	Sub-total (B)	2.589	3.194	3.304	3.424	2.956	1.902

10	TOTAL CURRENT LIABILITIES	8.589	9.194	9.304	9.424	8.956	7.902

	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 payable within one year)	6.600	4.800	3.000	1.200	0.000	0.000

14	Deferred Payment Credits (excl. instalments due within one year)	0.000	0.000	0.000	0.000	0.000	0.000

15	Term deposits (repayable after one year)	1.700	1.500	1.500	0.000	0.000	0.000

16	Other term liabilities	0.000	0.000	0.000	0.000	0.000	0.000

17	TOTAL TERM LIABILITIES	8.300	6.300	4.500	1.200	0.000	0.000

18	TOTAL OUTSIDE LIABILITIES	16.889	15.494	13.804	10.624	8.956	7.902

	NET WORTH
19	Proprietors Capital	7.141	8.727	10.757	13.379	15.610	16.467

20	General Reserve	0.000	0.000	0.000	0.000	0.000	0.000

21	Revaluation Reserve	0.000	0.000	0.000	0.000	0.000	0.000

22	Other Reserves	0.000	0.000	0.000	0.000	0.000	0.000

23	Surplus (+) or deficit (-) in Profit & Loss Account	0.000	0.000	0.000	0.000	0.000	0.000

24	NET WORTH	7.141	8.727	10.757	13.379	15.610	16.467

25	TOTAL LIABILITIES	24.030	24.221	24.561	24.003	24.566	24.369

	CURRENT ASSETS
26	Cash & Bank balances	1.226	0.502	1.452	1.274	2.006	1.781

27	Investments [other than long term investments]
	1. Government / Trustee security	0.000	0.000	0.000	0.000	0.000	0.000
	2. Fixed Deposit with banks	0.000	0.000	0.000	0.000	0.000	0.000
	3. Margin Deposits	0.000	0.000	0.000	0.000	0.000	0.000

28	Receivables other than deferred / export receivable [including BP/BD by banks]	3.119	5.385	5.923	6.516	7.168	7.884

	Export receivables [including BP/BD by banks]	0.000	0.000	0.000	0.000	0.000	0.000

29	Installment of deferred receivables [due within 1 year]	0.000	0.000	0.000	0.000	0.000	0.000

30	Inventories	7.206	7.350	7.497	7.647	7.800	7.956
	(i) Raw Materials
	(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

	(ii) Stock-in-process	2.661	2.714	2.769	2.824	2.880	2.938

	(iii) Finished Goods	4.545	4.636	4.729	4.823	4.920	5.018

	(iv) Other consumable stores
	(a) Imported	0.000	0.000	0.000	0.000	0.000	0.000
	(b) Indigenous	0.000	0.000	0.000	0.000	0.000	0.000

31	Advance to suppliers of Raw materials & stores/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	0.000	0.000	0.000	0.000	0.000	0.000

34	TOTAL CURRENT ASSETS	11.551	13.237	14.872	15.437	16.974	17.622

	FIXED ASSETS
35	Gross Block	12.880	12.880	12.880	12.880	12.880	12.880

36	Depreciation to date	0.801	2.297	3.592	4.714	5.688	6.533

37	NET BLOCK	12.079	10.584	9.289	8.166	7.192	6.347

	OTHER CURRENT ASSETS
38	Investments/ book debts/ advances deposits which are not current assets
	a) Investments in subsidiary companies/ affiliates	0.400	0.400	0.400	0.400	0.400	0.400
	Others	0.000	0.000	0.000	0.000	0.000	0.000

	b) Advances to suppliers of capital goods & contractors	0.000	0.000	0.000	0.000	0.000	0.000

	c) Deferred receivables (maturity exceeding one year)	0.000	0.000	0.000	0.000	0.000	0.000

	d) Others	0.000	0.000	0.000	0.000	0.000	0.000

39	Non consumables stores & spares	0.000	0.000	0.000	0.000	0.000	0.000

40	Other non-current assets (incl. Dues from director)	0.000	0.000	0.000	0.000	0.000	0.000

41	TOTAL OTHER NON-CURRENT ASSETS	0.400	0.400	0.400	0.400	0.400	0.400

42	Intangible assets (patents, goodwill, prelim, expenses, bad/ doubtful debts not provided for etc.)	0.000	0.000	0.000	0.000	0.000	0.000

43	TOTAL ASSETS	24.030	24.221	24.561	24.003	24.566	24.369

44	Tangible Networth	7.141	8.727	10.757	13.379	15.610	16.467

45	NET WORKING CAPITAL	2.962	4.043	5.569	6.013	8.017	9.720

46	Current Ratio	1.34	1.44	1.60	1.64	1.90	2.23

47	TOL / TNW	2.37	1.78	1.28	0.79	0.57	0.48

	ADDITIONAL INFORMATION
	A. Arrears of depreciation	0.000	0.000	0.000	0.000	0.000	0.000

	B. Contingent Liabilities:
	(a) Arrears of cumulative dividends	0.000	0.000	0.000	0.000	0.000	0.000
	(b) Gratuity liability not provided for	0.000	0.000	0.000	0.000	0.000	0.000
	(c) Disputed excise/ customs/ tax liabilities	0.000	0.000	0.000	0.000	0.000	0.000
	(d) Other liabilities not provided for	0.000	0.000	0.000	0.000	0.000	0.000

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

FUND FLOW STATEMENT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2014-15 Estimated	2015-16 Projected	2016-17 Projected	2017-18 Projected	2018-19 Projected	2019-20 Projected

1	SOURCES
a	Net Profit after Tax	1.141	1.586	2.031	2.622	3.231	3.857

b	Depreciation	0.801	1.495	1.295	1.123	0.974	0.845

c	Increase in Capital	0.000	0.000	1.600	0.000	0.000	0.000

d	Increase in Term Liabilities (including Public deposits)	8.300	0.000	0.000	0.000	0.000	0.000

e	Decrease in
	[i] Fixed Assets	0.000	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

f	Others
	[i] Increase in Reserves	0.000	0.000	0.000	0.000	0.000	0.000
	[ii] Others	0.000	0.000	0.000	0.000	0.000	0.000

g	TOTAL	10.242	3.081	4.926	3.744	4.205	4.702

2	USES
a	Net Loss	0.000	0.000	0.000	0.000	0.000	0.000

b	Decrease in Term Liabilities (Incl. Public deposits)	0.000	2.000	1.800	3.300	1.200	0.000

c	Increase in
	[i] Fixed Assets	12.880	0.000	0.000	0.000	0.000	0.000
	[ii] Other non-current Assets	0.400	0.000	0.000	0.000	0.000	0.000

d	Dividend Payments	0.000	0.000	0.000	0.000	1.000	3.000

e	Others [Capital]	0.000	0.000	0.000	0.000	0.000	0.000

f	TOTAL	13.280	2.000	1.800	3.300	2.200	3.000

3	Long Term Surplus (+) / Deficit (-)	(3.038)	1.081	3.126	0.444	2.005	1.702

4	Increase/ (Decrease) in current assets	11.551	1.686	1.635	0.565	1.537	0.648
	- in terms of %	--	14.60	12.35	3.80	9.96	3.82

5	Increase/ (Decrease) in Bank Borrowings	2.589	0.605	0.109	0.120	(0.468)	(1.054)
	- in terms of %	--	23.38	3.42	3.64	(13.66)	(35.67)

6	Increase/ (Decrease) in working capital Gap	8.962	1.081	1.526	0.444	2.005	1.702

7	Net Surplus (+) / deficit (-) (Difference of 3 & 6)	(12.000)	0.000	1.600	0.000	0.000	0.000

8	Increase/ (Decrease) in Bank Borrowings	6.000	0.000	0.000	0.000	0.000	0.000
	- in terms of %	--	0.00	0.00	0.00	0.00	0.00

	* Break up of (4)
a	[i] Increase/ (Decrease) in Raw material
	Imported	0.000	0.000	0.000	0.000	0.000	0.000
	- in terms of %	0.00	0.00	0.00	0.00	0.00	0.00

	Indigenous	0.000	0.000	0.000	0.000	0.000	0.000
	- in terms of %	0.00	0.00	0.00	0.00	0.00	0.00

b	[ii] Increase/ (Decrease) in Stock in process	2.661	0.053	0.054	0.055	0.056	0.058
	- in terms of %	0.00	0.00	0.00	0.00	0.00	0.00

c	[iii] Increase/ (Decrease) in finished goods	4.545	0.091	0.093	0.095	0.096	0.098
	- in terms of %	--	2.00	2.00	2.00	2.00	2.00

d	[iv] Increase/ (Decrease) in Receivables
	[a] Domestic	3.119	2.265	0.539	0.593	0.652	0.717
	- in terms of %	0.00	0.00	0.00	0.00	0.00	0.00

	[b] Export	0.000	0.000	0.000	0.000	0.000	0.000
	- in terms of %	0.00	0.00	0.00	0.00	0.00	0.00

e	[iii] Increase/ (Decrease) in stores & spares
	Imported	0.000	0.000	0.000	0.000	0.000	0.000
	- in terms of %	0.00	0.00	0.00	0.00	0.00	0.00

	Indigenous	0.000	0.000	0.000	0.000	0.000	0.000
	- in terms of %	0.00	0.00	0.00	0.00	0.00	0.00

f	[iii] Increase/ (Decrease) in other Current Assets	1.226	(0.723)	0.949	(0.178)	0.732	(0.225)
	- in terms of %	--	(59.02)	189.03	(12.25)	57.48	(11.21)

	Sub-total	11.551	1.686	1.635	0.565	1.537	0.648

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

COMPARATIVE STATEMENT OF CURRENT ASSETS & CURRENT LIABILITIES

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2014-15 Estimated	2015-16 Projected	2016-17 Projected	2017-18 Projected	2018-19 Projected	2019-20 Projected

A.	CURRENT ASSETS
1	Raw materials [including stores/ other items used in the process of manufacturing]
	Imported	0.000	0.000	0.000	0.000	0.000	0.000
	[Months Consumption]	0.00	0.00	0.00	0.00	0.00	0.00

	Indigenous	0.000	0.000	0.000	0.000	0.000	0.000
	[Months Consumption]	0.00	0.00	0.00	0.00	0.00	0.00

2	Other consumable spares
	Imported	0.000	0.000	0.000	0.000	0.000	0.000
	[Months Consumption]	0.00	0.00	0.00	0.00	0.00	0.00

	Indigenous	0.000	0.000	0.000	0.000	0.000	0.000
	[Months Consumption]	0.00	0.00	0.00	0.00	0.00	0.00

3	Stock in process	2.661	2.714	2.769	2.824	2.880	2.938
	[Months COP]	0.00	0.00	0.00	0.00	0.00	0.00

4	Finished Goods	4.545	4.636	4.729	4.823	4.920	5.018
	[Months COS]	0.00	0.00	0.00	0.00	0.00	0.00

5	Receivables other than export and deferred receivables [including BP/BD]	0.000	0.000	0.000	0.000	0.000	0.000
	[Months domestic sales excluded deferred payment sales]	0.00	0.00	0.00	0.00	0.00	0.00

6	Export receivables	0.000	0.000	0.000	0.000	0.000	0.000
	[Months export sales]	0.00	0.00	0.00	0.00	0.00	0.00

7	Advances to suppliers of raw materials etc.	0.000	0.000	0.000	0.000	0.000	0.000

8	Other Current Assets [including cash and bank balances etc.]	1.226	0.502	1.452	1.274	2.006	1.781

9	TOTAL CURRENT ASSETS (To agree with item 34 in Form III)	11.551	13.237	14.872	15.437	16.974	17.622

B.	CURRENT LIABILITIES (Other than bank borrowings for working capital)
10	Creditors for purchase of raw materials, stores, consumable spares etc.	0.689	1.094	1.204	1.324	1.456	1.602
	[Months purchase]	--	--	--	--	--	--

11	Advance from customers	0.000	0.000	0.000	0.000	0.000	0.000

12	Statutory Liabilities	0.100	0.300	0.300	0.300	0.300	0.300

13	Other Current Liabilities

	Short Term Borrowings	0.000	0.000	0.000	0.000	0.000	0.000

	Dividend Payable	0.000	0.000	0.000	0.000	0.000	0.000

	Instalments of TL/ DPGs/ Debentures etc.(due within one year)	1.800	1.800	1.800	1.800	1.200	0.000

	Others	0.000	0.000	0.000	0.000	0.000	0.000

14	TOTAL CURRENT LIABILITIES (To agree with sub-total B-Form III)	2.589	3.194	3.304	3.424	2.956	1.902

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

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2014-15 Estimated	2015-16 Projected	2016-17 Projected	2017-18 Projected	2018-19 Projected	2019-20 Projected

1	Total Current Assets (9 of Form IV)	11.551	13.237	14.872	15.437	16.974	17.622

2	Other Current Liabilities (other than bank borrowings) (14 of Form IV)	2.589	3.194	3.304	3.424	2.956	1.902

3	Working Capital Gap (WCP) (1-2)	8.962	10.043	11.569	12.013	14.017	15.720

4	Minimum stipulated NWC [Export receivables to be excluded]	2.888	3.309	3.718	3.859	4.243	4.405

5	Actual/ Projected net Working Capital (45 in form III)	2.962	4.043	5.569	6.013	8.017	9.720

6	Item 3 minus item 4	6.074	6.734	7.851	8.154	9.774	11.314

7	Item 3 minus item 5	6.000	6.000	6.000	6.000	6.000	6.000

8	Maximum Permissible Bank finance (item 6 or 7 whichever is less)	6.000	6.000	6.000	6.000	6.000	6.000

9	Excess Borrowings, if any representing short fall in NWC (4-5)	0.000	0.000	0.000	0.000	0.000	0.000

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

CREDIT FACILITIES [PROPOSED]

(RS. IN MILLIONS)

TYPE OF FACILITIES	AMOUNT
Cash Credit	6.000

Term Loan	9.000

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

NETWORTH STATEMENT

MR. JADAVBHAI SUKHABHAI GAMARA

(RS. IN MILLIONS)

BANK

BANK	BRANCH	S/B / C/D A/C. NO.	PRESENT BALANCE
Bank of India	Dhandhuka	Saving Account	--

State Bank of India	Dhandhuka	Current Account	0.010

DETAILS OF ASSETS

IMMOVABLE PROPERTY

Assets	Own / Joint name	Area	Free hold or Lease hold	Location/ address	Present Value
Non Agri. Land	--	--	Leasehold	GIDC, Dhandhuka, Ahmedabad, Gujarat, India	10.000

Agri. Land	Own Joint	3.-64-22 2-15-49	Freehold Freehold	Dhandhuka, Ahmedabad, Gujarat, India Dhandhuka, Ahmedabad, Gujarat, India	10.000 2.500

MOVABLE PROPERTY

INSURANCE POLICIES

Name of Company and Branch	Policy No.	Date of Issue	Sum Assured	Annual Premium
LIC	836831074	31.08.2010	0.063	0.002

LIC	832885057	28.06.2006	0.050	0.001

LIC	836638744	28.05.2010	0.200	0.016

VEHICLES

Type of Vehicles	Registration No.	Model	Year to make	Cost at the time of Purchase	Present Value
Tractor	GJ – 1 FQ 6368	Mahindra and Mahindra	2008	0.415	0.250

Two Wheeler	GJ A6998	--	--	--	0.015

JEWELLERY

Type	Quantity	Valuation [Approx.]
Gold	200 Gm.	0.500

Silver	1.5 Kg.	0.060

OTHERS

4 Buffalos and 6 Cows

0.500

LIABILITIES

AS BORROWER

Borrowed from	Purpose of Loan	Amount of Loan	Security	Repayment Terms	Outstanding Balance

Bank of India	K.C.C.	0.571	Hypothecation of Crop	Yearly	0.571

LEGAL HEIRS

Name	Occupation	Relation	Age	Marital Status	Address
Jethiben J. Gamara	Housewife	Wife	43	Married	Nani Zhok, Dhandhuka, Ahmedabad, Gujarat, India

Gautam J. Gamara	Student	Son	16	Single	Nani Zhok, Dhandhuka, Ahmedabad, Gujarat, India

Nayan J. Gamara	Student	Son	13	Single	Nani Zhok, Dhandhuka, Ahmedabad, Gujarat, India

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

NETWORTH STATEMENT

MR. BHARATBHAI K. ZAMPADA [GUARANTOR] [OLD NAME]

MR. BHARATBHAI K. SINGHAV [CHANGED NAME AS PER GAZETTE]

(RS. IN MILLIONS)

DETAILS OF ASSETS

IMMOVABLE PROPERTY

Assets

Own /

Joint name

Area

Free hold or Lease hold

Location/

address

Present Value

Non Agri. Land

Joint

Freehold

Dhandhuka, Ahmedabad, Gujarat, India

1.000

LEGAL HEIRS

Name	Occupation	Relation	Age	Marital Status	Address

Hiralben B. Zampada	Housewife	Wife	20	Married	Morasiya, Ahmedabad, Gujarat, India

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

NETWORTH STATEMENT

MR. LALJIBHAI K. SINDHAV [GUARANTOR] [OLD NAME]

MR. LALJIBHAI K. ZAMPADA [CHANGE NAME AS PER GAZETTE]

* There are some discrepancies with regards to the name of Mr. Laljibhai (In some documents mentioned as Mr. Lalabhai as well as Valabhai). Moreover the same has been conveyed to the respective banker i.e. Bank of India Dhandhuka Branch where Mr. Hiren Dhruv (Tel. No.: 91-2713-224441/ 42) Branch Manager advised us to consider the name Mr. Laljibhai as the guarantor. Further anywhere the name Mr. Lalabhai or Valabhai appears may not be considered as valid.

(RS. IN MILLIONS)

DETAILS OF ASSETS

IMMOVABLE PROPERTY

Assets

Own /

Joint name

Area

Free hold or Lease hold

Location/

address

Present Value

Non Agri. Land

Joint

Freehold

Dhandhuka, Ahmedabad, Gujarat, India

1.000

LEGAL HEIRS

Name	Occupation	Relation	Age	Marital Status	Address

Rekhaben	--	Wife	--	Married	Morasiya, Dhandhuka, Ahmedabad, Gujarat, India

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

NETWORTH STATEMENT

MR. LAXMANBHAI L. SINDHAV [GUARANTOR] [OLD NAME]

MR. LAKHMANBHAI K. ZAMPADA [CHANGE NAME AS PER GAZETTE]

* There are some discrepancies with regards to the name of Mr. Lakhmanbhai (In some documents mentioned as Mr. Laxmanbhai). Moreover the same has been conveyed to the respective banker i.e. Bank of India Dhandhuka Branch where Mr. Hiren Dhruv (Tel. No.: 91-2713-224441/ 42) Branch Manager advised us to consider the name Mr. Lakhmanbhai as the guarantor. Further anywhere the name Mr. Laxmanbhai appears may not be considered as valid.

(RS. IN MILLIONS)

DETAILS OF ASSETS

IMMOVABLE PROPERTY

Assets

Own /

Joint name

Area

Free hold or Lease hold

Location/

address

Present Value

Non Agri. Land

Joint

Freehold

Dhandhuka, Ahmedabad, Gujarat, India

1.000

LEGAL HEIRS

Name	Occupation	Relation	Age	Marital Status	Address
Gauriben L. Zampada	Agri	Wife	30	Married	Morasiya, Ahmedabad, Gujarat, India

Kuldip L. Zampada	Student	Son	14	Single	Morasiya, Ahmedabad, Gujarat, India

Arti L. Zampada	Student	Daughter	13	Single	Morasiya, Ahmedabad, Gujarat, India

Sneha L. Zampada	Student	Daughter	8	Single	Morasiya, Ahmedabad, Gujarat, India

Srushti L. Zampada	Student	Daughter	6	Single	Morasiya, Ahmedabad, Gujarat, India

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

PROJECT REPORT

INTRODUCTION

The proposed business consists mainly to produce cotton and cotton seeds, which provides vertical integration and growth plan designed for Promoter. Thus, a foundation will be existed for the development and executed of such a concept in order to generate profitability.

In business-cotton and cotton seeds selling of Agriculture products, all promoters are concerned with Agriculture activities having huge agriculture land of all promoters will have be an additional advantage as proposed unit requires raw materials – “Cotton”. Further, most of relatives of Promoters are also engaged in Agricultural activities. Today, cotton is highly demandable in domestic as well as International market. So, promoters will sell Cotton and cotton seeds to their target market as well as in their existing market.

All promoters of Krishna Cotton Industries intend to undertake a business venture of “Cotton and Cotton Seeds” which is further manufacturing of cotton seeds oil and cotton seed cake and selling to India and other countries where the era of cotton development is on a boom.

Subject is a proprietor firm. The firm office is situated at GIDC Ranpur Road, Dhandhuka – 364710. The firm has been established from 16^th June, 2013 by the above mentioned promoters and plans to enter in this new adventure of manufacturing of Cotton and Cotton Seeds.

PRODUCT

The firm will mainly manufacture Cotton and Cotton Seeds. Raw cotton consists will cotton and cotton seeds. Generally raw cotton contain 39% of cotton and 60% of cotton seeds and cotton seeds contain 14% oil ad then the remaining wastage known as Oil – cakes use as cattle food in India and abroad. The production ratio is as under:

Cotton = 67%

Cotton Seeds = 61%

Wastage = 2%

The firm is in the business of manufacturing of Cotton and Cotton seeds special quality from raw cotton. As they all knew the use of cotton in current scenario cotton is part of the human life in same line Cotton seeds, Cotton seeds oil is used, as edible oil. Cotton seeds oil has own local market. Edible oil of Saurashtra is more popular in exports market as well as Local Indian market.

The main byproduct is Cotton Seeds Cake, which is used as cattle feed and there are major local market for seeds cake in the local market and nearby surrounding area like saurashtra because there are majority of farmer. All the farmer have Buffalos, Cow and Bullocks. Therefore, there is potential market for the products in present as well as in the future. Cotton seeds cake has also major market in remaining areas of Gujarat as well as another state of India. Therefore, they can say that their main products, Cotton and Cotton seeds have potential market in allover in the India in present and in the future.

There are number of large and small players who are into manufacturing of Cotton, Cotton seeds Oil and Cotton Seeds cake. Normally large parts of the farmer of saurashtra go for local brand of cattle feed may be because it is somewhat cheaper and fresh. Saurashtra is famous for Cotton and Oil Seeds, therefore cotton seeds are easily saleable to local market required quantity and best quality with cheaper rate rather than other area of Gujarat. Promoters have already been conducted a market survey in depth of the market and future potential for this products. The firm as a local manufacture is having an additional benefit that it can have immediate feedback from its dealers and customers and can also understand the demand expectation for the products.

RAW MATERIAL

Raw material required for the production of the products is KALA and KAPAS. The raw materials, which are basically agricultural products, are freely and easily available in the local markets area of Dhandhuka, Ranpur and Botad. It is largest market of Gujarat. The main agriculture production of surrounding area is “Cotton” – the Agriculture Produce Market Committee – Dhandhuka sells cotton vast range per day. However the most considering factor is there are numbers of Ginning Factories around the taluka place Dhandhuka from where essential raw cotton can easily available. Further it is also easily available from another district of the saurashtra.

MANUFACTURING PROCESS

Following is the process to manufacture cottonseeds oil:

First of all, purchased of kapas and kala from local market

Than segregate kapas and thaliya from the kala

Than put Kapas in to Ginning machine for Ginning of Raw Cotton.

The Two main product segregate cotton and cotton seeds.

Cotton is passed to pressing area for pressing of bells and seeds are accumulated for use in oil mill which will be sale out.

MARKET FEASIBILITY

The firm is manufacturing Cotton and Cotton seeds.

Looking to the main feature of the product, i.e. fast moving consumer good. It already has very wide present as well as potential customer base. Cotton is part of human life because in most of the clothes, surgical and many other things are totally depend on cotton so market will increased day by day. In case of cotton seeds, the oil mill will further process and produce oil and cake. It is the uses the mainly as Edible oil and the cake of cottonseeds are use for the Cattle in all over the state of Gujarat. In this are 80% people are use the Cottonseeds Edible Oil and Cottonseeds cake from local market. Big merchant come from Bombay and other cities to purchase cottonseeds oil and cottonseeds cake at Dhandhuka because there are major oil mill and it is available at reasonable price and required quality. Price is the major factor taken into consideration by the rural consumers that affects sales in the rural markets.

Cotton seeds oil and groundnut oil are FMCG products used in daily life. They are used in routine cooking as well as specialized cooking by the Indians. The consumption is highest in Gujarat compared to the rest of the country.

Cotton seeds oil has become more popular in last a few years as the research supported that it is better than groundnut oil especially for heart patients and helps in control cholesterol as cholesterol free. Further it is somewhat cheaper than Groundnut oil. Apart from this, it is more affordable than the Groundnut oil. The demand for cottonseeds oil is increasing continuously.

As this product is a part of routine consumption, it requires will increased first of all well built goodwill in the market place and to maintain that a strong, well developed, marketing network to sell products. For which Krishna Cotton Industries is working form the day one and as a result of it, Krishna Cotton Industries find that there are no. of oil mill in Gujarat where Krishna Cotton Industries can sell own seeds when they crush it and sell it in market with own [refined oil mill] brand name.

SCHEDULE OF IMPLEMENTATION

The schedule of implementation of proposed project is as under:

Activity	Commencement Month/ Year	Completion Month/ Year
Procurement of Land	Already Procured	Already Procured

Construction work	Under Construction	September 2014

Placement of Order for Plant and Machinery	Already Placed	November 2014

Arrival of Plant and Machinery	November 2014	November 2014

Installation of Plant and Machinery	November 2014	November 2014

Commencement of Production end of	15^th of December, 2014	--

THEIR SERVICE PHILOSOPHY

To stay ahead in a rapidly changing environment, it is essential for a firm to hold on to a certain lasting values. They have evolved certain principles.

To ensure that clients are provided with a consistent quality of service and sound professional advice, their target / achievement lies in the satisfaction of their clients.

To consider clients not as outsiders but work with them and help them to develop the business.

To create in staff an awareness of quality at all stages of an assignment.

To ensure that decisions are taken quickly and efficiently.

They accomplish this not only through the experience of their staff but also by matching specific expertise to the assignment in hand.

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

VALUATION REPORT

(GENERAL DETAILS)

Purpose for which valuation is made

To ascertain the fair and marketable value

Date as on which valuation is made

17.12.2014

Name of the Owner

Lessor: Dhandhuka GIDC

Lessee: Krishna Cotton Industries

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

Individual Ownership

Brief description of the property

Industrial Land

Location, Street, Ward No.

Industrial Plot No. 100/8/2

Krishna Cotton Industries situated at GIDC Industrial Estate, Dhandhuka, Ahmedabad, Gujarat, India

Survey/Plot No. of Land

Survey No.: 74/P, 75/P

Mouje: Dhandhuka, Ta: City

District Ahmedabad

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

Industrial Area

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

Middle Class locality

Proximity to civic amenities like School, Hospitals, cinema etc.

All civic amenities are available at 1 Km radius.

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

Local Transport services, railway and Taxi

LAND

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

Land Area: 4906.44 Sq. Mt.

Built up Area: 332.33 Sq. Mt.

Roads, streets of lanes on which the land is abutting.

East = Estate Boundary

West = Plot No. 100/8/1 and 20 Mt Road

North = Plot No. 100/7

South = Plot No. 100/8/1 and 100/9

Is it freehold or leasehold land?

Leasehold land

If leasehold the name of lessor/lessee nature of lease, dates of commencement and termination lease and terms of renewal of lease.

· Initial Premium

· Ground rent payable per annum

· Unearned increase payable to the lessee in the event of sales to transfer.

Not Applicable

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

Are there any agreement of easements if so,

Not Applicable

Does the land fall in area included in any Town Planning Scheme or any Development Plan of Government of any Statutory body? If so,

Has any contribution been made towards Development or is any demand for contribution still outstanding.

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

IMPROVEMENT

Furnish technical details of the building on a separate sheet.

As per Technical Details

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

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

Lesser Occupied

Fully occupied by Lessee

RENTS

· Names of tenants/ lessees/ licenses etc.

· Portion in their occupation

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

· Gross amount received for the whole property.

Krishna Cotton Industries

Full Portion

Not Applicable

Are any of the occupants related to or close business associates of the owner.

Not Applicable

Is separate amount being recovered for the use of fixtures like fans, geysers, refrigerators, cooking ranges, built in wardrobes etc. for service charges? If so, give details

Not Applicable

Give details of water and electricity charges, if any to be borne by the owner.

Lessee has to bear charges.

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

Not Applicable

If a lift is installed, who has to bear the cost of maintenance and operation – owner or tenant

Not Applicable

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

Lessee has to bear charges

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

Lessee has to bear charges

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

Lessee has to bear charges

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

Not Available

Is any dispute between landlord and tenant regarding rent of building in a court of law?

Not Available

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

Not Applicable

SALES

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

Not Available

Land rate adopted in this valuation

Land Rate = Rs. 1500/- Sq. Mt.

Built up Rate = Rs. 8200/- Sq. Mt.

Sale instances are not relied upon, the basis of arriving at the land rate.

From Local Inquiry and Experience.

COST OF CONSTRUCTION

Year of commencement of construction and year of completion.

2014

What was the method of construction by contract / by employing labor direct/ both?

Not Available

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

Not Available

Whether the immovable property in question is in possession of tenants or is self-occupied.

Owner Occupied

Whether it is vacant plot or building

Land and Building

Whether it is an agricultural, residential or industrial area

Industrial Area

VALUATION

LAND AND BUILDING

Considering the sales of land in this locality, the position of the land with respects to road, surrounding developments, and the distances to be travelled on foot, and by bus service to the city and the business places, size of the plot and such other factors affecting the value of the land and considering the nature of construction, material used there in, the Market Value of the Property as under:

MARKET VALUE

Market Value is the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arms-length transaction after property marketing wherein the parties has each acted knowledgably, prudently, and without compulsion.

SR. NO.	PARTICULARS	AREA SQ. MTS.	COMPOSITE RATE [RS. / SQ. MT.]	MARKET VALUE IN MILLIONS

1.	Land Area	4906.44	Rs. 1500/-	7.360

2.	Built up Area	332.33	Rs. 8200/-	2.725

	Total			10.085

So the Market Value of Industrial Plot No. 100/8/2, Krishna Cotton Industries situated at GIDC Industrial Estate, Dhandhuka, Ahmedabad, Mouje-Dhandhuka, Ta-City, District Ahmedabad, Gujarat, India owned by Lessor: GIDC Dhandhuka, Lessee: Krishna Cotton Industries at Rs. 10.085 Millions as on 17^th December, 2014.

REALIZABLE VALUE

The net value of an asset if it were to be sold, taking into account the cost of making the sale and of bringing the asset into a saleable state. So the Realizable Value [15% less] of the property as under:

REALIZABLE VALUE

RS. 10.085 MILLIONS – 10%

RS. 9.076 MILLIONS

DISTRESS VALUE

When valuing a distressed property, an appraiser should examine the types of problem causing the property to be categorized as distressed and what needs to be done for the property to recover. The appraiser should indicate on the appraisal report why the problems have hurt the property and its value, in its current use [rental property, primary residence]. Distress value of real property should include an analysis of the property’s “as-is” market value and the amount a buyer would be willing to pay and still be able to cover all costs involved for recovery of the property. So the distress value [25% less] of the property as under:

DISTRESS VALUE

RS. 10.085 MILLIONS – 20%

RS. 8.068 MILLIONS

TECHNICAL DETAILS

No of floors and height of each floor

· Basement

· Ground floor and First floor

· Second floor and Third floor

Industrial Plot No. 100/8/2

Ground Floor

Plinth area floor wise

· Basement

· Ground floor and First floor

· Second floor and Third floor

Land Area: 4906.44 Sq. Mts.

Built up Area: 332.33 Sq. Mts.

Year of Construction

2014

Estimated future life

New Construction

Type of construction – Load Bearing Walls/ RCC frame/ steel frame

RCC Frame Structure

Type of foundations

RCC Frame Structure

Walls

· Basement and Plinth

· Ground floor

· Superstructure above ground floor

Brick Masonry Wall

Partitions

Brick Masonry Wall

Door and Windows (Floor-wise)

· Basement

· Ground floor and First floor

· Second floor and Third floor

MS Rolling shutter doors

MS frame with designed windows

Flooring (Floor-wise)

· Basement

· Ground floor and First floor

· Second floor and Third floor

I.P.S. Flooring

Finishing (Floor Wise)

· Basement

· Ground floor and First floor

· Second floor and Third floor

Inside smooth plaster and outside sand face plaster.

Roofing and Terracing

MS Sheet as roofing

Special architectural or decorative features if any

Good building

Internal Wiring – Surface or Conduit

Class of fitting – superior/ ordinary/ poor

Sanitary Installations

· No. of water closets

· No. of lavatory basins

· No. of urinals

· No. of sinks

· No. of bath tubs

· No. of bidets

· No. of geysers

Installed

Compound Wall

· Height and length

· Type of construction

Available

No of lifts and capacity

Not Applicable

Underground sumps capacity and type of construction

Available

Overhead tank

· Where located

· Capacity

· Type of construction

Available

Pump No. and their horse power

Available

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

Internal Road

Sewage disposal/ whether connected to public sewer. If septic tanks provided No. and Capacity)

Plan are not Section.

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

VALUATION REPORT

(GENERAL DETAILS)

Purpose for which valuation is made

To ascertain the fair and marketable value.

Date as on which valuation is made

15.12.2014

Name of the Owner

Mr. Lakhmanbhai Kalabhai Singhav

Mr. Valabhai Kalabhai Singhav

Mr. Bharatbhai Kalabhai Singhav

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

Joint Ownership

Brief description of the property

This is Residential Tenament

Location, Street, Ward No.

Residential Tenament Plot No. 31, Situated Shiv Shakti Nagar, Ranpur Road, Dhandhuka, Ahmedabad

Survey/Plot No. of Land

Survey No. 385/A/3/P1,

Mouje: Dhandhuka

Ta- Dhandhuka, District Ahmedabad

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

Residential Area

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

Middle Class locality

Proximity to civic amenities like School, Hospitals, cinema etc.

All civic amenities are available at 1 Km radius.

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

Local Transport services, railway and Taxi

LAND

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

Built up Area: 277.83 Sq. Yd.

[232.30 Sq. Mt.]

Land Area: 472.42 Sq. Yd.

[395 Sq. Mt.]

Roads, streets of lanes on which the land is abutting.

East = Plot No. 29

West = Internal Road

North = Plot No. 30

South = Road

Is it freehold or leasehold land?

Freehold land

If leasehold the name of lessor/lessee nature of lease, dates of commencement and termination lease and terms of renewal of lease.

· Initial Premium

· Ground rent payable per annum

· Unearned increase payable to the lessee in the event of sales to transfer.

Not Applicable

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

Are there any agreement of easements if so,

Not Applicable

Does the land fall in area included in any Town Planning Scheme or any Development Plan of Government of any Statutory body? If so,

Has any contribution been made towards Development or is any demand for contribution still outstanding.

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

IMPROVEMENT

Furnish technical details of the building on a separate sheet.

As per Technical Details

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

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

Owner Occupied

Fully occupied by owner

RENTS

· Names of tenants/ lessees/ licenses etc.

· Portion in their occupation

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

· Gross amount received for the whole property.

Not Applicable

Are any of the occupants related to or close business associates of the owner.

Not Applicable

Is separate amount being recovered for the use of fixtures like fans, geysers, refrigerators, cooking ranges, built in wardrobes etc. for service charges? If so, give details

Owner has to bear charges

Give details of water and electricity charges, if any to be borne by the owner.

Owner has to bear charges

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

Owner has to bear charges

If a lift is installed, who has to bear the cost of maintenance and operation – owner or tenant

Owner has to bear charges

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

Owner has to bear charges

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

Owner has to bear charges

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

Owner has to bear charges

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

Not Available

Is any dispute between landlord and tenant regarding rent of building in a court of law?

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

Not Applicable

SALES

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

Not Available

Land rate adopted in this valuation

Built up Rate = Rs. 7000/- Sq. Yd.

Land Rate = Rs. 3000/- Sq. Yd.

Sale instances are not relied upon, the basis of arriving at the land rate.

From Local Inquiry and Experience.

COST OF CONSTRUCTION

Year of commencement of construction and year of completion.

1994

What was the method of construction by contract / by employing labor direct/ both?

Not Available

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

Not Available

Whether the immovable property in question is in possession of tenants or is self-occupied.

Owner Occupied

Whether it is vacant plot or building

Land and Building

Whether it is an agricultural, residential or industrial area

Residential Area

VALUATION

LAND AND BUILDING

MARKET VALUE

SR. NO.	PARTICULARS	AREA SQ. YDS.	COMPOSITE RATE [RS. / SQ. YDS.]	MARKET VALUE IN MILLIONS

1.	Built up Area	277.83	Rs. 7000/-	1.945

2.	Land Area	472.42	Rs. 3000/-	1.417

	Total			3.362

So the Market Value of Residential Tenament Plot No. 31, Situated Shiv Shakti Nagar, Rampur Road, Dhandhuka, Ahmedabad, Survey No. 385/A/3/P1, Mouje-Dhandhuka, Ta-City, District Ahmedabad, Gujarat, India owned by Mr. Lakhmanbhai Kalabhai Singhav, Mr. Valabhai Kalabhai Singhav, Mr. Bharatbhai Kalabhai Singhav at Rs. 3.362 Millions as on 27^th December, 2014.

REALIZABLE VALUE

The net value of an asset if it were to be sold, taking into account the cost of making the sale and of bringing the asset into a saleable state. So the Realizable Value [10% less] of the property as under:

REALIZABLE VALUE

RS. 3.362 MILLIONS – 10%

RS. 3.026 MILLIONS

DISTRESS VALUE

RS. 3.362 MILLIONS – 20%

RS. 2.690 MILLIONS

TECHNICAL DETAILS

No of floors and height of each floor

· Basement

· Ground floor and First floor

· Second floor and Third floor

Residential Tenament Plot No. 31

Ground Floor

Plinth area floor wise

· Basement

· Ground floor and First floor

· Second floor and Third floor

Built up Area: 277.83 Sq. yds.

[232.30 Sq. Mt.]

Land Area: 472.42 Sq. yds.

[395 Sq. Mts.]

Year of Construction

1994

Estimated future life

46 Years

Type of construction – Load Bearing Walls/ RCC frame/ steel frame

RCC Frame Structure

Type of foundations

RCC Frame Structure

Walls

· Basement and Plinth

· Ground floor

· Superstructure above ground floor

Brick Masonry Wall

Partitions

Brick Masonry Wall

Door and Windows (Floor-wise)

· Basement

· Ground floor and First floor

· Second floor and Third floor

Wooden frame with wooden doors and

MS frame with wooden doors windows

Flooring (Floor-wise)

· Basement

· Ground floor and First floor

· Second floor and Third floor

Kota Stone Tiles as flooring

Finishing (Floor Wise)

· Basement

· Ground floor and First floor

· Second floor and Third floor

Outside sand face plaster and inside smooth plaster

Roofing and Terracing

RCC slab as roofing

Special architectural or decorative features if any

Good building

Internal Wiring – Surface or Conduit

Class of fitting – superior/ ordinary/ poor

Concealed wiring

Sanitary Installations

· No. of water closets

· No. of lavatory basins

· No. of urinals

· No. of sinks

· No. of bath tubs

· No. of bidets

· No. of geysers

Installed

Compound Wall

· Height and length

· Type of construction

Available

No of lifts and capacity

Underground sumps capacity and type of construction

Available

Overhead tank

· Where located

· Capacity

· Type of construction

Available

Pump No. and their horse power

Available

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

Internal Road

Sewage disposal/ whether connected to public sewer. If septic tanks provided No. and Capacity)

Connected to Dhandhuka Nagar Palika

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

FIXED ASSETS

· Ele. Motor and Fittings

· Weight machine

· Building

· Other Equipment’s

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

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. 61.82
UK Pound	1	Rs. 95.14
Euro	1	Rs. 69.14

INFORMATION DETAILS

Information Gathered by :	HNA

Analysis Done by :	SUB

Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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

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

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

RATING EXPLANATIONS

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

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

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

MIRA INFORM REPORT

Unit