MIRA INFORM REPORT

Report No. :	311291
Report Date :	14.03.2015

IDENTIFICATION DETAILS

Name :	A E INFRA PROJECTS PRIVATE LIMITED

Registered Office :	A-6, Om Satya Pushpa Co-Operative Housing Society Limited, Opposite Saraswati English High School, Panchpakhadi Thane (West), Thane – 400602, Maharashtra

Country :	India

Financials (as on) :	31.12.2014

Date of Incorporation :	01.10.2009

Com. Reg. No.:	11-196191

Capital Investment / Paid-up Capital :	Rs. 5.100 Millions

CIN No.: [Company Identification No.]	U45200MH2009PTC196191

IEC No.:	Not Available

TIN No.:	27640782871

TAN No.: [Tax Deduction & Collection Account No.]	PNEA15500C

PAN No.: [Permanent Account No.]	AAICA3503D

Legal Form :	Private Limited Liability Company

Line of Business :	Government Civil Contractor.

No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

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

Rating Agency Name	CRISIL
Rating	Long term rating: “BB-”
Rating Explanation	Have moderate risk of default.
Date	27.01.2015

Rating Agency Name	CRISIL
Rating	Short term rating: “A4+”
Rating Explanation	Have minimal degree of safety and carry very high credit risk.
Date	27.01.2015

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. Deepak Pendharkar
Designation :	Senior Account and Finance Manager
Contact No.:	91-81088872223
Date :	12.03.2015

LOCATIONS

Registered Office :	A-6, Om Satya Pushpa Co-Operative Housing Society Limited, Opposite Saraswati English High School, Panchpakhadi Thane (West), Thane – 400602, Maharashtra, India
Tel. No. :	91-22-25375256/ 25393096
Mobile No. :	91-9322263508 (Mr. Rajesh Nathalal Barot) 91-9821651111 (Mr. Mukesh Nathalal Barot)
Fax No. :	91-22-25375256/ 25393096
E-Mail :	ambika.ent@gmail.com aeinfraprojects@gmail.com gfiind@vsnl.com
Location :	Owned

Branch Office :	Located at · Vadodara, Gujarat, India
Tel. No. :	91-79-25375256
Fax No. :	91-79-25393096
E-Mail :	aeinfraprojects@gmail.com

DIRECTORS

As on 30.09.2014

Name :	Mr. Mukesh Nathalal Barot
Designation :	Director
Address :	501, 5^th Floor, Neelkanth Niwas, Ram Maruti Road, Thane – 400601, Maharashtr, India
Date of Birth/Age :	20.12.1966
Qualification :	Graduate
Experience :	20 Years
Date of Appointment :	01.10.2009
PAN No.:	ADFPB8304C
DIN No. :	02676196

Name :	Mr. Rajesh Nathalal Barot
Designation :	Director
Address :	4^th Floor, Mankame House, Chendani, IDCO Bus Stop, Thane – 400601, Maharashtra, India
Date of Birth/Age :	27.06.1964
Qualification :	Graduate
Experience :	20 Years
Date of Appointment :	01.10.2009
PAN No. :	ABJPB2138A
DIN No. :	02674511

KEY EXECUTIVES

Name :	Mr. Deepak Pendharkar
Designation :	Senior Account and Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Mukesh Nathalal Barot	306000	60.00
Rajesh Nathalal Barot	204000	40.00
Total	510000	100.00

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

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

BUSINESS DETAILS

Line of Business :	Government Civil Contractor.

Products/ Services :	· Water Supply Management and Projects (Construction, Management and Commissioning) · Civil and Infrastructure Projects · Building Construction, etc

Brand Names :	--

Agencies Held :	--

Exports :	--

Imports :	--

Terms :	--

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	J K Cement Limited, Muddapur
Name of the Person (with Designation):	Mr. Ruturaj Mane (Assistant Manager in Marketing)
Contact Number:	91-8322764504
Since How Long Known:	2 ½ Year
Maximum Limit Dealt:	Rs. 20.000 Millions
Experience :	Payment Behaviour: Good Market Goodwill: Good Overall: Good
Remarks :	We receive advance payment from them and We are satisfied by working with them.

NAME OF SUPPLIERS	CONTACT PERSON	CONTACT NO.

Bharat Re-Rolling Steel Industries – Sangli, Maharashtra, India	Mr. Patil	91-9823056384

Sunrie Electroment Limited – Cuncolim, Goa, India	Marketing Department	91-8322764504

Comcrete Mix Solutions - Sangli, Maharashtra, India	Mr. Deepak	91-7774016831

Ultra Tech Cement Limtied – Solapur, Maharashtra, India	G.S. Shetaji	91-9225802740

Lanco Industries Limited – Chittoor, Andhra Pradesh, India	Upadhyay	91-9920811341

Vidhi Traders	Mr. Ashish / Mr. Rajeshbhai	--

Veer Brothers	Mr. Rakesh Toliya	91-9321333997

Itron India Limited	Mr. Virulkar	91-9769334452

Customers :

Others (Government. Semi Government, Corporation, etc.)

Reference:	Sangli Mirag Kupwad Corporation
Name of the Person (with Designation):	Mr. R. P. Jadav (Engineering Head)
Contact Number:	91-9822185967
Since How Long Known:	3 Years
Maximum Limit Dealt:	Approx. Rs. 300.000 Millions
Experience :	Product Quality: Good Delivery Behaviour: Good Overall: Good
Remarks :	Company is good, sometimes their project gets delay but not their fault, material sometimes don’t come on time, but they cover-up on deadline.

NAME OF CUSTOMERS	CONTACT NO.

TMC	--

Vadodara Mahanagar Seva Sadan	91-265-2433060

Ahmedabad Municipal Corporation	91-79-25391811

No. of Employees :

Not Divulged

Bankers :

Bank Name:	Punjab National Bank
Branch:	Shilpayan Building, Shivaji Path, Thane (West), Thane – 400603, Mahrashtra, India E-Mail: bo1144@pnb.co.in
Name of the Person (with Designation):	Mr. Abhishek Singh (Loan Division)
Contact Number:	91-9004108237 91-22-25333915/ 25333990
Name of Account Holder:	A E INFRA PROJECTS PRIVATE LIMITED
Account Number:	1144009300019187
Account Since (Date/ Year of A/c Opening):	Last 4 Years
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	OD
Account Operation:	--
Remarks: As claimed by Mr. Abhishek Singh (Loan Division) that subject having satisfactory track record for banking transaction.

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
SHORT TERM BORROWINGS
Bank Overdraft Facility	47.416	41.103
Total	47.416	41.103

Banking Relations :	--

Auditors :
Name :	Yogesh Sovani and Asssociates Chartered Accountants
Address :	3/301, Janki Niwas, Behind Dagdi School, Dr. Moose Road, Thane – 400602, Maharashtra, India
Tel. No. :	91-22-25416138
E-Mail :	office.ysa@gmail.com
Income-tax PAN of auditor or auditor's firm :	ACEPS2656Q

Memberships :	--

Collaborators :	--

Associates/Subsidiaries :	--

CAPITAL STRUCTURE

As on 30.12.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

1,000,000	Equity Shares	Rs.10/- each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

510,000	Equity Shares	Rs.10/- each	Rs. 5.100 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.12.2014 (9 Months)	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	5.100	5.100	5.100	5.100
(b) Reserves & Surplus	31.728	22.705	11.825	4.221
(c) Money received against share warrants	0.000	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	36.828	27.805	16.925	9.321

(3) Non-Current Liabilities
(a) long-term borrowings	7.030	9.360	12.068	5.764
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000	0.000
Total Non-current Liabilities (3)	7.030	9.360	12.068	5.764

(4) Current Liabilities
(a) Short term borrowings	55.797	47.416	41.103	28.730
(b) Trade payables	25.410	26.718	8.865	10.431
(c) Other current liabilities	15.827	35.555	20.419	26.269
(d) Short-term provisions	12.363	9.393	0.356	0.000
Total Current Liabilities (4)	109.397	119.082	70.743	65.430

TOTAL	153.255	156.247	99.736	80.515

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2.318	2.704	2.718	3.224
(ii) Intangible Assets	1.473	1.473	1.473	1.473
(iii) Capital work-in-progress	0.000	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000	0.000
(b) Non-current Investments	1.623	1.622	1.622	1.426
(c) Deferred tax assets (net)	0.121	0.121	0.028	0.018
(d) Long-term Loan and Advances	5.819	28.334	20.252	8.840
(e) Other Non-current assets	0.118	0.118	0.131	0.146
Total Non-Current Assets	11.472	34.372	26.224	15.127

(2) Current assets
(a) Current investments	0.000	0.000	0.000	0.000
(b) Inventories	102.250	71.605	42.131	18.635
(c) Trade receivables	17.303	15.916	21.256	22.334
(d) Cash and cash equivalents	8.562	9.273	4.133	20.745
(e) Short-term loans and advances	5.812	14.978	5.106	0.000
(f) Other current assets	7.856	10.103	0.886	3.674
Total Current Assets	141.783	121.875	73.512	65.388

TOTAL	153.255	156.247	99.736	80.515

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2014 (9 Months)	31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	219.380	335.310	138.930	110.928
		Other Income	0.178	0.522	7.362	0.853
		TOTAL (A)	219.558	335.832	146.292	111.781

Less	EXPENSES
		Cost of Raw Material Consumed	167.733	266.638	114.960	92.243
		Employee Benefits Expense	15.437	25.044	6.936	3.014
		Other Expenses	17.161	17.666	9.041	8.560
		TOTAL (B)	200.331	309.348	130.937	103.817

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		19.227	26.484	15.355	7.964

Less	FINANCIAL EXPENSES (D)		6.083	9.501	4.085	1.559

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		13.144	16.983	11.270	6.405

Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.386	0.434	0.542	0.678

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		12.758	16.549	10.728	5.727

Less	TAX (H)		3.734	5.669	3.124	1.770

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		9.024	10.880	7.604	3.957

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		22.705	11.825	4.221	0.264

	BALANCE CARRIED TO THE B/S		31.729	22.705	11.825	4.221

	Earnings / (Loss) Per Share (Rs.)		17.69	21.33	14.91	7.76

KEY RATIOS

PARTICULARS		31.12.2014 (9 Months)	31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	4.11	3.24	5.47	3.57

Operating Profit Margin (PBDIT/Sales)	(%)	8.76	7.90	11.05	7.18

Return on Total Assets (PBT/Total Assets}	(%)	8.42	10.71	10.94	7.24

Return on Investment (ROI) (PBT/Networth)		0.35	0.60	0.63	0.61

Debt Equity Ratio (Total Debt/Networth)		1.71	2.04	3.14	3.70

Current Ratio (Current Asset/Current Liability)		1.30	1.02	1.04	1.00

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	5.100	5.100	5.100
Reserves & Surplus	4.221	11.825	22.705
Net worth	9.321	16.925	27.805

long-term borrowings	5.764	12.068	9.360
Short term borrowings	28.730	41.103	47.416
Total borrowings	34.494	53.171	56.776
Debt/Equity ratio	3.701	3.142	2.042

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	110.928	138.930	335.310
		25.243	141.352

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	110.928	138.930	335.310
Profit	3.957	7.604	10.880
	3.57%	5.47%	3.24%

LOCAL AGENCY FURTHER INFORMATION

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

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

OBSERVATION POINTS

Name of Company :	A E INFRA PROJECTS PRIVATE LIMITED

Name Board:	Not Sighted

Visibility of Name Board :	Low

Location:	Easy

Landmark (if any):	Saraswati High School Floor: 1

Locality:	Residential

Approx. Market Value of Premises:	Area: 1000 Sq. Ft.

Area:	Upmarket

Visibility of Items:	· Telephone · Fax · Telex · Computers · AC · Office Equipment · Xerox Machine

No. of Employees seen at Business Premises:	15

Furniture Items Sighted:	Yes

Office Appearance:	Yes

Sister Concerns (Other Names or Name Board)	No

Visiting Card Provided as Proof of Visit:	Yes

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

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
LONG TERM BORROWINGS
Term Loans – Other Loans	9.360	12.068
Total	9.360	12.068

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

A E INFRA PROJECTS PRIVATE LIMITED

COMPUTATIN OF TOTAL INCOME

(RS. IN MILLIONS)

PARTICULARS	2014-2015

Income from Business or Profession

Net Profit as pe Profit and Loss A/c		16.549
Add: Disallowable/ Addition:
Depreciation 0.434
Donation 0.368
Profession Tax 0.288
Employee Provident Fund 0.132
Royalty Paid 0.295
Survey Charges 0.029
Salary 0.756 --------	2.302 --------
	18.851
Less: Treated Separately:
Bank Interest 0.404	0.404 -------	18.447

Less: Business Deduction:
Current Depreciation u/s 32(1) [As per Working]	0.478	0.478 -------
Net Business Income			17.969

Income from Other Source:

Interest Income:
Interest on F.D. with Bank(s)	0.404 -------
Total Income from Interest		0.404 -------
Net Income from Other Sources			0.404 -------

Gross Total Income			18.373

Total Income			18.373

Rounded off u/s/ 288A			18.373

COMPUTATIN OF TAX PAYABLE

Gross Tax on Rs. 18.373 (Normal)			5.512

Add: Surcharge 0.276 + 0.174 Edu. Cess and Higher Edu. Cess			0.449 -------
			5.961
Less: Prepaid Taxes:

Tax Deducted at Sources

Other than Salary	6.659	6.659 -------

Total Prepaid Taxes			6.659 -------

Tax Refundable			(0.698)

Rounded off to Nearest 10			(0.698)

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

DETAILS OF COLLATERAL SECURITIES

(RS. IN MILLIONS)

SR. NO.	IMMOVABLE ASSETS/ FIXED ASSETS	REALISABLE VALUE	DESCRIPTION OF SECURITY	VALUE

1.	Flat on 4th Floor, Situated at Takale House, Raghoba Shankar Road, Chari, Thane Owner: Mukesh Nathalal Barot Area of the Flat: 465 Sq. Ft. built up	4.185	FDR (BG Margin 15% as and when utilised)	12.000

2.	Flat on 1st Floor, Situated at Takale House, Raghoba Shankar Road, Chari, Thane Owner: Mukesh Nathalal Barot Area of the Flat: 465 Sq. Ft. built up	4.185	--	--

3	Flat No. 501, 5th Floor, Rammaruti Road No. 1 Naupada, Thane Owner: Rajesh Nathalal Barot and Mukesh Nathalal Barot BUA: 600 Sq. Ft.	4.050	--	--

4	Land and Building of Courtyard Hotel, Situated at S. N. 192, New Survey No. 14, Part 6, At Mauje Mogharpada, Owale, Taluka District Thane Owner: Ambika Hospitality (Partnership of Rajesh Barot and Mukesh Barot)	64.100	--	--

5	Office No. 6, 1st Floor, A Wing, “Om Satya Pushpa CHS Limited”, Opposite Saraswati English Medium School, Panchpakhadi, Thane Owner: Mukesh Nathalal Barot and Rajesh Nathalal Barot Area: 750 Sq. Ft. Built up	8.600	--	--

6	Flat No. 301, 3rd Floor, Stilt Parking No. 31, Wing “A” Sitavihar CHS Limited, Near Damani Estate, Naupada, Thane Owner: Rajesh Nathalala Barot Area of the Flat: 965 Sq. Ft. Built up	12.835	--	--

7	Flat No. 302, 3rd Floor, Stilt Parking No. 31, Wing “A”, Sitavihar CHS Limited, Near Damani Estate, Naupada, Thane Owner: Usha Rajesh Barot BUA: 965 Sq. Ft.	12.835	--	--

8	Flat No. 15, Building No. 3, Sahyadri CHS Limited, Opposite Talwalkar Gym, Panchpakhadi, Thane (West) Owner: Mukesh Nathalal Barot BUA: 965 Sq. Ft.	12.800	--	--

	Total	123.590	--	--

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BREAK EVEN POINT

(RS. IN MILLIONS)

PARTICULARS	2015	2016	2017	2018
	Estimated	Projection	Projection	Projection

Sales	486.200	583.439	670.955	771.599

Variable Cost

I. Raw Material	413.270	495.923	570.312	655.859

II. Consumables	0.000	0.000	0.000	0.000

III. Direct Labour	0.000	0.000	0.000	0.000

IV. Power and Fuel	0.000	0.000	0.000	0.000

V. Selling Expenses	0.055	0.061	0.067	0.073

VI. Other Variable Costs	--	--	--	--

Total Variable Costs	413.325	495.984	570.379	655.932

Percent of Sales	85.01%	85.01%	85.01%	85.01%

Fixed Costs	53.508	65.308	71.763	78.122

Break Even Level of Sales	356.992	435.691	478.735	521.145

Percentage to Sales	73%	75%	71%	68%

Cash Break Even of Sales	353.977	433.231	476.716	519.479

Percentage to Sales	73%	74%	71%	67%

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ASSESSMENT OF WORKING CAPITAL REQUIREMENTS

OPERATING STATEMENT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2015	2016	2017	2018
		Estimated	Projection	Projection	Projection

1	Gross Sales	486.200	583.439	670.955	771.599

	i) Domestic Sales	486.200	583.439	670.955	771.599

	ii) Export Sales	--	--	--	--

2	Less: Excise duty	--	--	--	--
1
3	Net Sales (1-2)	486.200	583.439	670.955	771.599

4	% rise (+) or fall (-) in Net Sales as compared to previous year	45%	20%	15%	15%

5	Cost of Sales
	(i) Raw materials (including spares and other items used in the mfg. process)	413.270	495.923	570.312	655.859
	(a) Imported	--	--	--	--
	(b) Indigenous	413.270	495.923	570.312	655.859

	RMC/ Sales	85%	85%	85%	85%

	(ii) Other spares
	(a) Imported	--	--	--	--
	(b) Indigenous	--	--	--	--

	(iii) Power and fuel	--	--	--	--

	(iv) Direct Labour	--	--	--	--

	(v) Other Manufacturing Expenses	--	--	--	--

	(vi) Depreciation	0.452	0.369	0.303	0.250

	(vii) Sub-Total (i to vi)	413.722	496.292	570.615	656.109

	Add: Opening Stock-in-Process	71.605	80.539	84.566	88.795

	Sub-Total	485.327	576.832	655.181	744.903

	(ix) Less: Closing Stock in Process	80.539	84.566	88.795	93.234

	Add: Office and Admn. Expenses	54.798	60.277	66.305	72.935

	(x) Cost of Production	459.585	552.542	632.691	724.604

	(xi) Add: Opening Stock of Finished Goods	--	--	--	--

	Sub Total	459.585	552.542	632.691	724.604

	(xii) Less: Closing stock of Finished Goods	--	--	--	--

	Add: Selling and Distribution Expenses	0.550	0.605	0.666	0.732

	xiii) Cost of Sales	460.135	553.147	633.357	725.336

6	Operating Profit Before Interest (3-5)	26.065	30.292	37.598	46.262

7	Interest	7.248	8.750	9.450	9.450

	i) Interest on Term Loan	0.108	--	--	--
	ii) Interest on Cash Credit	7.140	8.750	9.450	9.450

8	Operating Profit after Interest (6-7)	18.817	21.542	28.148	36.812

9	i. Add: Other Non-Operating Income	--	--	--	--
	a) Sales Tax Refund	--	--	--	--
	b) Other Income Including Interest, Dividend	0.872	1.037	1.120	1.209
	c) Trading Sale	--	--	--	--
	Sub-Total: Other Income	0.872	1.037	1.120	1.209

	ii. Less: Other Non-Operating Expenses
	a) Purchases for Trading	--	--	--	--
	b) Previous years Expenses	--	--	--	--
	Sub-Total: Other Expenses	--	--	--	--

	iii. Other non-operating income net of Exp.	0.872	1.037	1.120	1.209

10	Profit before tax/ loss [8+9 (iii)]	19.689	22.579	29.268	38.021

11	Provisions for taxes	5.907	6.774	8.780	11.406

12	Net Profit/ Loss (10-11)	13.782	15.805	20.488	26.615

13	a. Equity Dividend Paid	--	--	--	--
	b. Dividend Rate (%)	--	--	--	--

14	Retained Profit (12-13)	13.782	15.805	20.488	26.615

15	Retained Profit to Net Profit (%)	100%	100%	100%	100%

16	PBDIT	26.517	30.661	37.901	46.512

17	PBDIT/ Net Sales	5.%	5%	6%	6%

18	Net Profit/ Sales	3%	3%	3%	3%

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

ANALYSIS OF BALANCE SHEET

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2015	2016	2017	2018
		Estimated	Projection	Projection	Projection

1	Short Term Borrowings from Bank (Including Bills Purchased/ Discounted)	70.000	70.000	70.000	70.000

	(i) From Applicant bank	70.000	70.000	70.000	70.000

	(ii) From other Bank	--	--	--	--

	(iii) (Of which Bills Purchase / Bills Discounted)	--	--	--	--

	Sub-Total (A)	70.000	70.000	70.000	70.000

2	Sundry Creditors – Associate Concerns Sundry Creditors (Under Letter of Cr)	30.000	30.000	30.000	30.000

3	i) Sundry Creditors for Goods Import	--	--	--	--
	ii) Sundry Cr for goods indigenous	25.382	26.651	27.984	25.185
	iii) Sundry Creditors for Expenses	--	--	--	--

4	Advance Payments from Customers/ Deposits from Dealers	24.310	29.172	33.548	38.580

5	Provision for Taxation	4.862	5.834	6.710	7.716

6	Provision for Bad and Doubtful Debts	--	--	--	--

7	Other statutory liabilities	2.431	2.917	3.355	3.858

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

9	Other current liabilities and Provisions (due within one year)	4.566	5.023	5.525	6.078

	Sub Total (B)	91.552	99.598	107.121	111.417

10	Total Current Liabilities	161.552	169.598	177.121	181.417

	TERM LIABILITIES

11	Term Loans	--	--	--	--

12	Term Loans from	--	--	--	--

13	Term Loans from Other Banks	--	--	--	--

14	Deferred Liabilities: Sales Tax Deferral Loan	--	--	--	--

15	Unsecured Loans	18.022	18.022	18.022	18.022

16	Other Term Liabilities	--	--	--	--

17	Total Term Liabilities [11+16]	18.022	18.022	18.022	18.022

18	Total Outside Liabilities [10+17]	179.574	187.620	195.143	199.439

	NET WORTH

19	Ordinary Share Capital	5.100	5.100	5.100	5.100

20	General Reserve	0.264	0.264	0.264	0.264

21	Investment Allowance Reserve	--	--	--	--

22	Subsidy Account	--	--	--	--

23	Surplus (+) or Deficit (-) in Profit and Loss A/c	36.222	52.027	72.515	99.130

24	Net Worth	41.586	57.391	77.879	104.494

25	Total Liabilities [18+24]	221.160	245.011	273.022	303.933

	ASSETS

	CURRENT ASSETS

26	Cash and Bank Balances	8.849	0.184	1.892	2.952

27	Investments Exclud. Long Term Investments	12.000	12.960	13.997	15.117
	i) Investments in Govt. Securities	--	--	--	--
	ii) Investment in Bank Deposits	12.000	12.960	13.997	15.117
	iii) Investments (others)	--	--	--	--

28	i) Receivables (Incld. Purchased/ Discounted by Banks)	73.263	87.916	101.103	116.268
	ii) Domestic Receivables – Associate Firms (Incld. Purchased/ Discounted by Banks)	73.263	87.916	101.103	116.268
	iii) Export Receivables	--	--	--	--
	(iv) Debtors under Bills Discounting	--	--	--	--

29	Others (EMD Security Deposit)	24.310	29.172	33.548	38.580

30	Inventory	80.539	84.566	88.795	93.234
	(i) Raw materials (including stores and spares)
	(a) Imported	--	--	--	--
	(b) Indigenous	--	--	--	--
	(ii) Stock-in-process	80.539	84.566	88.795	93.234
	(iii) Finished Goods	--	--	--	--
	(iv) Other consumable spares
	a) Imported	--	--	--	--
	b) Indigenous

31	Advance to suppliers of Raw materials and Stores/ Spares	16.475	24.796	28.516	32.793

32	Advance payment of taxes – Net of Provision	--	--	--	--

33	Other current assets	--	--	--	--

34	Total Current Asset [Total 26 To 33]	215.436	239.594	267.850	298.944

	FIXED ASSETS

35	Gross Block	4.358	4.358	4.358	4.358

36	Depreciation to date	2.106	2.475	2.777	3.027

37	Net Block (35-36)	2.253	1.884	1.581	1.331

	OTHER NON-CURRENT ASSETS

38	Investments/ book debts / advances/ deposits which are not current assets	1.755	1.768	1.783	1.799

	i. Investments in subsidiary companies	--	--	--	--

	ii. Other Investments	1.622	1.622	1.622	1.622

	iii. Capital Works in Progress	--	--	--	--

	iv. Utility Deposits	--	--	--	--

	v. Deferred Receivables	0.133	0.146	0.161	0.177

39	Non-Consumables Stores and Spares	--	--	--	--

40	Other non-current assets	0.243	0.292	0.335	0.386

41	Total other non-current assets (38 to 40)	1.998	2.060	2.119	2.185

42	Intangible Assets	1.473	1.473	1.473	1.473

43	TOTAL ASSETS (Total of 34+37+41+42)	221.160	245.011	273.022	303.933

44	Tangible Net Worth (24-42)	40.113	55.918	76.406	103.021

45	Net Working Capital [(17+24) – (37+41+42)] to tally with (34.10)	53.884	69.996	90.728	117.527

46	Current Ratio (34/10)	1.33	1.41	1.51	1.65

47	TOL/ TNW	4.48	3.36	2.55	1.94

48	TOL/ TNW+QE	2.78	2.29	1.88	1.50

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

COMPARATIVE STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2015	2016	2017	2018
		Estimated	Projection	Projection	Projection

A	CURRENT ASSETS

1.	Raw Materials (Including Stores, Spares and Other Items used in the mfg. process)
	(a) Imported	--	--	--	--
	(Days Consumption)	--	--	--	--

	(b) Indigenous	--	--	--	--
	(Days Consumption)	--	--	--	--

2.	Other Consumables Spares (Excluding those Included in the 1 Above)
	(a) Imported	--	--	--	--
	(Days Consumption)	--	--	--	--

	(b) Indigenous	--	--	--	--
	(Days Consumption)	--	--	--	--

3.	Stock in Process	80.539	84.566	88.795	93.234
	(Days Cost of Production)	64	56	51	47

4.	Finished Goods (Days Cost of Sales)	--	--	--	--
	(Months Consumption)	--	--	--	--

5.	Receivables Domestic	73.263	87.916	101.103	116.268
	(Days Domestic Sales Exclg.)	55	55	55	55

6.	Export Receivables (Incldg. BP/ BD)	--	--	--	--
	(Days Export Sales)	--	--	--	--

7.	Advances to Suppliers of Raw Materials	16.475	24.796	28.516	32.793

8.	Other Current Assets (Including Cash and Bank Balances)	45.159	42.316	49.437	56.648

9.	Total Current Assets	215.436	239.594	267.850	298.944

B	CURRENT LIABILITIES (Other than Bank Borrowings for Working Capital)

10.	Creditors for Purchase of Indigenous Raw Materials and Consumable Spares
	a. Indigenous	--	--	--	--
	(Days Purchases)	--	--	--	--
	b. Imported	--	--	--	--
	(Months Purchases)	--	--	--	--

11.	Advances from Customers	24.310	29.172	33.548	38.580

12	Statutory Liabilities	2.431	2.917	3.355	3.858

13.	Other Current Liabilities (Short Term Loans, Unsecured Loans, Dividend Payable, Instalments of Term Loans and Deferred Payments, Debentures and Public Deposits, etc.)	9.428	10.857	12.235	13.794

14.	TOTAL CURRENT LIABILITIES	61.552	69.598	77.121	81.417

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

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2015	2016	2017	2018
		Estimated	Projection	Projection	Projection

1	Total Current Assets	215.436	239.594	267.850	298.944

2	Other Current Liabilities (Excluding Bank Borrowing for W.C.)	91.552	99.598	107.121	111.417

3	Working Capital Gap (WCP) (1-2)	123.885	139.996	160.728	187.527

4	Minimum Stipulated Net Working Capital (i.e. 25% of Total Current Assets excludg. Export Receivables)	53.859	59.899	66.962	74.736

5	Actual/ Projected Net Working Capital	53.884	69.996	90.728	117.527

6	Item 3 minus item 4	70.026	80.098	93.766	112.791

7	Item 3 minus item 5	70.000	70.000	70.000	70.000

8	Maximum Permissible Bank Finance (Item 6 or 7 whichever is lower)	70.000	70.000	70.000	70.000

9	Excess Borrowings Representing - Shortfall in Net Working Capital (4-5)	--	--	--	--

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

FUND FLOW STATEMENT

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2015	2016	2017	2018
		Estimated	Projection	Projection	Projection

1	SOURCES

	[a] Net Profit after Tax	13.782	15.805	20.488	26.615

	[b] Depreciation	0.452	0.369	0.303	0.250

	[c] Increase in the Capital and Reserves	--	--	--	--

	[d] Increase in Term Liabilities	10.000	--	--	--

	[e] Decrease in the
	[i] Fixed Assets	--	--	--	--
	[ii] Other Non-Current Assets	--	--	--	--

	[f] Others	--	--	--	--

	TOTAL	24.234	16.174	20.790	26.865

2	USES

	[a] Net Loss	--	--	--	--

	[b] Decrease in the Term Liabilities	--	--	--	--

	[c] Increase in the
	[i] Fixed Assets	--	--	--	--
	[ii] Other Non-Current Assets	0.137	0.062	--	--
	[iii] Intangible Assets	--	--	--	--

	[d] Dividend Payable – Capital Withdrawal	--	--	--	--

	[f] Others (Income Tax – Previous Year)	--	--	--	--
	TOTAL	0.138	0.062	--	--

3.	Long Term Surplus (+)/ Deficit (-) (1-2)	24.096	16.112	20.790	26.865

4.	Increase/ Decrease in Current Assets	65.228	24.158	28.256	31.094

5.	Increase/ Decrease in Current Liabilities excldg. Bank Borrowing	18.548	8.046	7.523	4.296

6.	Increase/ Decrease in Working Capital Gap	46.681	16.112	20.732	26.798

7.	Net Surplus(+)/ Deficit(-): Diff. of 3&6	(22.584)	0.000	0.058	0.066

8.	Increase/ Decrease in Bank Borrowings for Working Capital	22.584	--	--	--

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

FINANCIAL RATIO

(RS. IN MILLIONS)

SR. NO.	PARTICULARS	2015	2016	2017	2018
		Estimated	Projection	Projection	Projection

i	Tangible Net Worth	40.113	55.918	76.406	103.021

i. a.	Increase/ Decrease (%)	52%	39%	37%	35%

ii	TOL/ TNW	4.48	3.36	2.55	1.94

iii	Quasi Equity	18.022	18.022	18.022	18.022

iv	TOL/ TNW with QE	2.78	2.29	1.88	1.50

v	Net Sales	486.200	583.439	670.955	771.599

vi	Growth Rate of Sales (%)	45%	20%	15%	15%

vii	Profit Before Dep. Int. and Tax	26.517	30.661	37.901	46.512

viii	PBIDT/ Net Sales (%)	5%	5%	6%	6%

x	Net Profit After Tax	13.782	15.805	20.488	26.615

xi	Net Profit/ Sales	3%	3%	3%	3%

xii	Total Current Assets	215.436	239.594	267.850	298.944

xiii	Current Assets eligible for working capital finance	153.802	172.482	189.898	209.503

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

FACILITY: I

Nature of Facility	Overdraft against Tangible Collateral Securities

Amount	Rs. 50.000 Millions (Enhancement from Rs. 45.600 Millions)

Primary Security	Nil


Guarantor	1. Mr. Mukesh N. Barot 2. Mr. Rajesh N. Barot

ROI	BR + 2.75% - 0.50% presently 10.25% + 2.75 – 0.50% i.e. 12.50% As applicable to “BI” rated with external rating BB- from CRISIL – 0.50% p.a. (for collateral security RV above 75% to 100%) as per L & A Circ. 48/2014 dated 23.04.2014 subject to change from time to time

Renewal	The limit is to be renewed every year

EXTENSION OF MORTGAGE OF BLOCK ASSETS / IMMOVABLE PROPERTY

(RS. IN MILLIONS)

NO.	SECURITY DESCRIPTION	AREA IN SQ M OR SQ FT	OWNERSHIP	VALUE			BASIS FOR VALUATION	DATE	WHETHER EXISTING OR FRESH
				LAST SANCTION	PRESENT VALUE	RELIZABLE VALUE

1	Extension of Mortgage Flat No. 401, on the 4^th Floor, situated at Takale House, Raghoba Shankar Road, Charai, Thane Admeasuring 465 Sq. Ft. Built up Area	465 Sq. Ft.	Mr. Mukesh Nathalal Barot	4.185	--	5.022	Approved valuer Ranade and Associates report dated 23.09.2014	23.09.2014	Existing

2.	Extension of Mortgage Flat No. 101, on the 1^st Floor, Situated at Takale House, Raghoba Shankar Road, Charai, Thane Admeasuring 465 Sq. Ft. Built up Area	465 Sq. Ft.	Mr. Mukesh Nathalal Barot	4.185	--	4.600	Approved valuer Ranade and Associates	23.09.2014	Existing

3	Extension of Mortgage Flat No. 501, on 5^th Floor, of Neelkanth Niwas situated at Ram Maruti Road No. 1, Naupada, Thane (West), Thane Admeasuring 528 Sq. Ft. Built up Area	600 Sq. Ft.	1. Mr. Rajesh Nathalal Barot 2. Mr. Mukesh Nathalal Barot	4.050	--	6.177	Approved valuer Ranade and Associates Dated 23.09.2014	23.09.2014	Existing

4.	Extension of Mortgage of Land and Building of Courtyard Hotel situated at Old Survey No. 192, New Survey No. 14, Part 6, At Mauje Mogharpada, Ovala, Taluka and District Thane	3040 Sq. Ft.	Mr. Mukesh Nathalal Barot	50.560	--	53.600	Approved valuer Ranade and Associates Report Dated 04.07.2014 RV Rs. and Shyam Agarwal dated 07.08.2014 MV Rs. 59.588 Millions and RV Rs. 53.600 Millions	04.07.2014	Existing

5.	Extension of Mortgage Office No. 6, First Floor, Wing “A”, Building “Om Satya Pushpa Co-op Hsg Soc. Limited” Panchpakhadi, Thane (West), Final Plot No. 272, T.P.S. No. 1, Survey No. 263, Hissa No. 4 Admeasuring 750 Sq. Ft.	750 Sq. Ft.	1. Mr. Mukesh Nathalal Barot 2. Mr. Rajesh Nathalal Barot	8.775	--	8.600	Approved valuer Ranade and Associates Report Dated 04.07.2014	04.07.2014	Existing

6	Extension of Mortgage Flat No. 301, Third Floor, Stilt Parking No. 31, Wing “A”, In the Building Known as Sita Vihar Co-op HSG. Society Limited, Near Damani Estate, L.B.S. Marg, Naupada, Thane (West)	818 Sq. Ft.	Mr. Rajesh Barot	11.302	--	12.835	Approved valuer Ranade and Associates Report Dated 04.07.2014	04.07.2014	Existing

7	Extension of Mortgage Flat No. 15, Building No. 3, Sahyadri CHS, Opposite Talwalkar Gym, Panchpakhadi, Thane (West)	962 Sq. Ft.	Mr. Mukesh Barot	11.200	--	12.800	Approved valuer Ranade and Associates Report Dated 04.07.2014	04.07.2014	Existing

8	Extension of Mortgage Flat No. 302, Third Floor, Stilt Parking No. 31, Wing “A”, in the Building Known as Sita Vihar Co-op HSG. Society Limited, Near Damani Estate, L.B.S. Marg, Naupada, Thane (West)	965 Sq. Ft.	Mrs. Usha Rajesh Barot (Wife of Mr. Rajesh Barot)	10.420	--	12.835	Approved valuer Ranade and Associates Report Dated 04.07.2014	04.07.2014	Existing

9	Extension of Mortgage on Flat No. 703, River Wood Complex, Shil Phata Road, Thane (West)	600 Sq. Ft. Carpet Area	Mr. Rajesh Barot	--	--	3.000	Asper BM’s valuation report dated 08.10.2014	08.10.2014	Existing

	TOTAL			104.677	--	119.469

	Less: 133% of Housing Loan in view of Outstanding of Rs. 2.318 Millions upto November, 2014 Against Flat No. 301, Third Floor, Stilt Parking No. 31, Wing “A”, in the Building Known as Sita Vihar Co-op HSG. Society Limited	--	--	--	--	3.083

	Less: 150% of OD Against limit of Rs. 1.500 Millions to Disha Enterprises the mortgage of property Present o/s Rs. 0.657 Million against IP of Flat No. 703, River Wood Complex, Shil Phata Road, Thane (West)	--	--	--	--	0.986

	Net Collateral Security					115.400

PERSONAL/ CORPORATE GUARANTEE

(RS. IN MILLIONS)

NAME OF GUARANTOR	RELATIONSHIP WITH BORROWER	NET WORTH		IMMOVABLE PROPERTY		DATE OF CONFIDENTIAL

Mr. Mukesh Nathalal Barot	Director	79.566	77.296	63.800	78.060	14.02.2013	10.09.201

Mr. Rajesh Nathalal Barot	Director	18.059	22.540	22.433	22.660	14.02.2013	10.09.2014

Mrs. Usha Barot	Spouse of Director	NA	12.835	NA	12.835	NA	31.01.2015

FACILITY: II

Nature	Letter of Guarantee (Renewal of existing limits)

Amount	Rs. 35.000 Millions

Commission	As per Banks schedule of Charges

Margin	15% (Reduction from existing 15%)

Purpose	Guarantees will be issued for Security Deposit, Advance Payment money and performance guarantees.

FACILITY: III

Nature	ILC (DA/DP) (Fresh)

Amount	Rs. 15.000 Millions

Commission	As per Banks schedule of charges (Subject to change from time to time)

Margin	15 %

Purpose	To procure raw material

Security	DA/ DP Documents such a Bills of Sales, Invoices/ Delivery Orders accompanied by RRS/ MTRs and along with insurance and other usual documents. Charge over all the current assets (present and future) of the company

Beneficiary	The suppliers of goods

Tenor	180 Days

Devolvement	In case of borrowers failure to meeting drawings under the credit and cash credit accounts being overdrawn due to debit of LC document, permission to open further LCs to be obtained from the next authority as per guidelines

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

PROFILE

Brief History	Subject is a registered company established on 01.10.2009. The company is engaged in the business as manufacturer and work contractor

About the Directors	The directors are family members and are well experienced in the said line of business for more than a decade

Existing Bankers	Punjab National Bank

Existing Limits	Fund Based OD Against tangible securities Rs. 45.600 Millions and Non Fund Based BG Limit Rs. 35.000 Millions. Last renewed on 10.12.2013

Present Request	1. To Sanction CC limit of Rs. 100.000 Millions and BG limit of Rs. 50.000 Millions 2. To accept Mrs. Usha Rajesh Barot only as mortgage of her joint share in the flat offered as security as she wish to restrict her liability to the extent of her property

Purpose of bank finance	Money and Performance Guarantee

Repayment period and rate of interest	Annual review with CC at the interest of 13.50 % p.a. CC: Hypothecation of stock and book debts BG: 15% margin by way of FDR

C.A. certified Net Worth	Rs. 15.320 Millions as on 31.03.2013

Work orders in hand	The company has various work orders from Vadodara Mahanagar Seva Sadan, Ahmedabad Municipal Corporation, Thane Municipal Corporation, Sangli Miraj Kupwad Municipal Corporation, Tatva Global Water Technologies Private Limited

Particular	Prior to 01.01.2014 (Rs. in Millions)	After 01.01.2014 (Rs. in Millions)	Total (Rs. in Millions)

Work Orders	479.617	466.695	946.312

Work completed till 31.07.2014	116.297	18.189	134.486

Balance Work in hand	363.373	448.506	811.879

WORK ORDERS IN HAND

(RS. IN MILLIONS)

VENDOR	DATE	NATURE OF WORK	AMOUNT

Sangli Miraj Kupwad Corporation	10.05.2013	Construction of RCC ESR	67.945

TMC	18.05.2013	Water distribution system	140.496

Sangli Miraj Kupwad Corporation	04.06.2013	Construction of 62 housing units	21.877

Sangli Miraj Kupwad Corporation	04.06.2013	Construction of 62 housing units	33.780

Vadodara Mahanagar Seva Sada	30.07.2013	Operation and Maintenance of Water Supply System	293.447

Tata Global Water Technologies Private Limited	05.09.2013	Water Distribution System	62.601

Ahmedabad Municipal Corporation	04.01.2014	Construction, Fabrication, Erections and Rigid pavement of 11 Nos. of Bus Shelter	159.200

TMC	05.02.2014	Construction Dwelling Unit and Infrastructure	2.421

Vadodara Mahanagar Seva Sadan	04.03.2014	Supply of Domestic meter and supervision in fixing testing and commissioning	26.667

Vadodara Mahanagar Seva Sadan	04.03.2014	Supply of Domestic meter and supervision in fixing testing and commissioning	12.115

Vadodara Mahanagar Seva Sadan	04.03.2014	Supply of Domestic meter and supervision in fixing and commissioning in North Harni	13.857

Vadodara Mahanagar Seva Sadan	04.03.2014	Supply of Domestic meter and supervision in fixing and commissioning in North Harni	13.857

Vadodara Mahanagar Seva Sadan	04.03.2014	Supply of Domestic meter and supervision in fixing testing and commissioning in Kapurai	12.152

Vadodara Mahanagar Seva Sadan	20.10.2014	Supply of domestic meter in North Harni including supervision, testing, commissioning	6.708

Vadodara Mahanagar Seva Sadan	20.10.2014	Supply of domestic meter in Chhani Village including supervsion, testing, commissioning	5.873

Vadodara Mahanagar Seva Sadan	20.10.2014	Supply of domestic meter in Kapural Tanki including supervision, testing, commissioning	6.167

Vadodara Mahanagar Seva Sadan	20.10.2014	Supply of domestic meter in Sayajipura Tanki including supervision, testing, commissioning	13.015

		Total	892.178

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

ASSESMENT OF BANK GUARANTEE REQUIREMENTS

SR. NO.	DETAILS	BASIS FOR WORKING	AMOUNT IN MILLIONS

1	Projected contracts for the existing year	Assumed figure	500.00

2	Strike Rate	20%	100.000

	Total		100.000

GUARANTEE LIMIT IN LIEW OF SECURITY DEPOSITS

SR. NO.	DETAILS	BASIS FOR WORKING	AMOUNT IN MILLIONS

1	Annual Security Deposit Required	10% of Contracts awarded (10% of C)	10.000

GUARANTEE LIMIT FOR MOBILISATION ADVANCE

SR. NO.	DETAILS	BASIS FOR WORKING	AMOUNT IN MILLIONS

1	Annual mobilization advance required for	20% of Contracts awarded (20% of C)	20.000

2	Monthly mobilization advance	1 divided by 12	1.667

3	Average retention period of mobilization advances	In months	0

4	Requirement of Guarantee limit for Mobilisation Advance	2 x 3	0.000

LIMIT OF PERFORMANCE GUARANTEE

SR. NO.	DETAILS	BASIS FOR WORKING	AMOUNT IN MILLIONS

1	Average monthly contracts awarded	C/12	8.333

2	Requirement of Bank Guarantee per month	20% of 1	1.667

3	Average period of performance guarantee	In months	24

4	Requirement of Performance Guarantee	2 x 3	40.000

GUARANTEE LIMIT FOR RELEASE OF RETENTION MONEY

SR. NO.	DETAILS	BASIS FOR WORKING	AMOUNT IN MILLIONS

1.	Average monthly contracts awarded	C/12	8.333

2	Requirement of Bank Guarantee per month	10% of Contracts awarded (10% of 1)	0.833

3.	Average period of Retention	In months	0

4.	Requirement of Retention Money Guarantee	2 x 3	0.000

GURANTEE LIMIT FOR DUTY EXEMPTION

SR. NO.	DETAILS	BASIS FOR WORKING	AMOUNT IN MILLIONS

1.	Average monthly contracts awarded	C/12	8.333

2	Requirement of Bank Guarantee per month	10% of Contracts awarded (10% of 1)	0.167

TOTAL GUARANTEE LIMIT

SR. NO.	TYPE OF LIMIT	AMOUNT

1	Guarantee Limit for Bid Bonds	0.000

2	Guarantee Limit fin Lieu of Security Deposit	10.000

3	Guarantee Limit Performance Guarantee	40.000

4	Guarantee Limit Retention Money Guarantee	0.000

5	Guarantee Limit for Duty Exemption	0.000

	Total Guarantee Limit	50.000

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

NETWORTH STATEMENT

MR. RAJESH NATHALAL BAROT

(RS. IN MILLIONS)

DETAILS OF ASSETS

A. TOTAL VALUE OF IMMOVABLE PROPERTY

NATURE OF PROPERTY	LOCATION WITH COMPLETE ADDRESS	MARKET VALUE

Flat	A Wing, 301, Sita Vihar CHS, L.B.S. Marg, Naupada, Thane (West), Thane - 400602, Maharashtra, India	12.500

Flat	703, River Wood Complex, Shilphata Road, Thane (West), Maharashtra, India	3.000

Flat	Flat No. 501, Neelkanth Nivas, Ram Maruti Road, Naupada, Thane (West), Thane – 400602, Maharashtra, India	3.100

Office Premises	A/6, Om Satyapushpa CHS, Opposite Saraswati English School, Panchpakhadi, Thane, Maharashtra, India	4.300

Flat	Ghodbunder Road, Thane, Maharashtra, India	1.500

	Total	24.400

B.TOTAL VALUE OF OTHER ASSETS

NATURE OF ASSET	PARTICULARS OF ASSETS / COMPLETE DESCRIPTION	QTY.	MARKET VALUE

Life Insurance Policies	Kotak Life / Met Life	2	0.185

	Total		0.185

C. TOTAL LIABILITY

NATURE OF ASSET	BANK NAME	OUTSTANDING

Housing Loan	Punjab National Bank	2.290

Overdraft Facility of Deesha Enterprises	Punjab National Bank	0.657

Total		2.947

D. Net Worth of Mr. Rajesh Barot is Rs. 21.638 Millions as on 28.02.2015

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VALUATION REPORT

GENERAL DETAILS

Date of Visit of the Site for Valuation of IP	20.09.2014

Date of Making Valuation	23.09.2014

Name of Owner(s) of the property	Mr. Mukeh Nathalal Barot
i) Date of Purchase of IP	08.12.2006
ii) Purchase Price of IP	Rs. 0.850 Million as on 08.12.2006

Document Details	Photocopy of Sale Agreement dated 08.12.2006 between Mr. Rajaram N. Jailla (Developer) and Mr. Mukesh Nathalal Barot

Whether necessary enquires have been made from the concerned locality with regard to the ownership of the property	Yes

If the property is under joint ownership/ co-ownership, share of each owner. Are the shares undivided?	It is a single ownership

Brief Description of Property	Flat No. 101 in “Takle House” situated opposite Dabkewada, Raghoba Shankar Road, Off. Old Station Road, Chendani Thane (West) S. No. 63, Tika No. 2, Village Chendani

Location, Street and Ward No.	Situated Opposite Dabkewada, Raghoba Shankar Road, Off Old Station Road, Chendani in Thane (West)

Survey/ Plot No. of Land	S. No. 63, Tika No. 2, Village Chendani

Is the IP bears the same description/ details as mentioned in the documents/ title deeds	Yes

Is the property situated in residential/ mixed area/ industrial area	Property is in a mixed locality Residential as well as commercial locality

Is the property situated in an unauthorized/ authorized colony	Yes, it is authorized colony. C.C. No. V.P. 99/040 / TMC / TD DP / TPS / 775 dated 21.02.2009

Classification of locality high class/ middle class/ poor class	Middle Class Residential Locality

Is the IP in question or any part of it is under encroachment	No

Proximity to civic amenities like schools, hospitals, offices, market, cinema halls, etc.	Within Walking Distance

Means and Proximity to surface communication by which locality is served	By Auto and TMT Buses

Area supported by documentary proof, shape, dimensions and physical features	33.27 Sq. Mtr. Say 358 Sft Carpet 465 Sft Built up

Roads, streets or lanes on which the land is abutting, surrounded	Situated opposite Dabkewada, Raghoba Shankar Road, Off Old Station Road, Chendani in Thane (West)

Furnish details of the building on a separate sheet given

i) Number of floors and height of each floor	Ground plus five upper floors

ii) Plinth area floor – wise	As per sanctioned plan

iii) Year of Commencement of construction and year of completion	In the year 2004 – 2009 and completed in the year 2011 there abouts

What was the method of construction – by contract/ by employing labour Directly/ Both	Details not available

Type of construction/ finishing –	RCC Super Structure

i) Load bearing walls/ RCC Frame/ Steel Frame	RCC Frame

ii) Type of foundations	RCC Plinth Beams

iii) Walls (floor-wise)	Brickwork Walls

iv) Partitions	Brickwork Walls

v) Doors, Windows, etc. (Floor-Wise)	Wooden Door

vi) Flooring (Floor-wise)	Mosiac Tiles

vii) Finishing (Floor-wise)	Mosiac Tiles

viii) Roofing and Terracing	RCC Slabs

ix) Special Architectural or Decorative Features, if any	Nil – Premises in the subject is being used for commercial purpose

x) External Wiring – Surface of Conduit	Concealed – Single phase

xi) Class of Fittings – Superior/ Ordinary Poor	Ordinary

xii) Sanitary Installation – Numbers/ Ordinary/ Poor	Common for all

Compound Wall	Not Provided
a. Height and Length	Not Applicable
b. Type of Construction	Not Applicable

No. of Lifts and Capacity	Not Provided

Underground Pump – Capacity and Type of Construction	Available of adequate capacity

Overhead Tank	Available of adequate capacity
a. Where Located	On Terrace
b. Capacity	--
c. Type of Construction	--

Water Pumps – Number and Their Horse Power	Available of adequate capacity

Sewage Disposal – Sewer Line or Septic Tanks (No. and Capacity)	Connected to TMC sewerage line

Roads and Paving Within the compound, approximate area and type of paving	Not provided

Is the construction/ built up property is an per the plan approved by the competent	Building is sanctioned as per plan provided at the time of inspection

What is the floor space index permissible and percentage actually utilized?	1:1 entire FSI has been used

Estimated future life	Around 50 Years – if proper care and maintained of RCC super structure

Is it freehold or leasehold land?	Not applicable as property under consideration is flat

If leasehold, the name of lessor/ lessee, nature of lease, dates of commencement, and termination of lease and terms of renewal of lease i. Initial Premium ii. Ground rent payable per annum iii. Un earned increase payable to the lessor in the event of transfer iv. Are there any agreements of leasement?	Property is freehold

Is there is any restrictive convent in regard to use of land? If so details to be give	As per documents produced – there are no restrictive convent

Does the land fall in an area included in any town Planning Plan of Government or any statutory body: If so give particulars	As per available information – No

Has any contribution been made towards development or is any demand for such contribution still outstanding?	Not Applicable

Has the whole or part of the land been notified for acquisition by Government or any statutory body? Give the notification	As per available information – No

Is the building owner occupied / tenanted/ both	Flat is occupied by tenant

If partly owner occupied specify portion and extent of area of area under owner occupation	Not Applicable

Name of tenant/ lessees/ licensees, etc.	At the time of visit flat was given on lease – license to an office

Portion in their occupation	100%

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

Has any standard rent been fixed for the premises under any law relating to the control of rent?	Not Applicable

Is there any dispute between land lord and tenant regarding rent pending in court of law	As per available information there is no dispute

Whether possession of the property can be taken by the bank in case of need without any litigation (Society rules, independent entrance, co-owners share/ joint ownership, etc.)	In normal case Yes

The valuer should give in detail his approach to valuation of the property and indicate how the value has been arrived at, supported by necessary calculations (Rent capitalization method, municipal valuation for tax purpose, composite rate method for flat, etc.)	They have referred to stamp duty rates, inquiries with estate dealers, responses from advertisers on enquiry

a. Land rate adopted in the valuation	Market rates for flats in this area are between Rs. 10,000 to Rs. 12,000/Sft. Super built up depending upon location and condition. Rate adopted Rs. 12,000/Sft – Super Built up

b. Instances of sales of IPs in the locality indicating the name and address of the IPs, registration no., sale prices and area of land sold	Not Enclosed

c. If sales instances are not available or not relied upon, the basis of arriving at the land rate	Local Enquiry

Guideline value/ value of IP as per Circle rates, if any applicable in the area where IP is situated	Stamp duty rate 7,469/Sft. Built up and transactions are raking at much higher rates

Market value of the property	465 Sft. Super built up @ Rs. 11,000/Sft. – Super Built up – i.e. Rs. 5.115 Millions

Distress Sale Value/ Realisable Value of the Property	Around Rs. 4.600 Millions (As bank normally does distress sale and bank auctions are cornered and distress value is around 90% price of fair market price)

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VALUATION REPORT

GENERAL DETAILS

Date of Visit of the Site for Valuation of IP	20.09.2014

Date of Making Valuation	23.09.2014

Name of Owner(s) of the property	Mr. Mukeh Nathalal Barot
i) Date of Purchase of IP	08.12.2006
ii) Purchase Price of IP	Rs. 0.850 Million as on 08.12.2006

Document Details	Photocopy of Sale Agreement dated 08.12.2006 between Mr. Rajaram N. Jailla (Developer) and Mr. Mukesh Nathalal Barot

Whether necessary enquires have been made from the concerned locality with regard to the ownership of the property	Yes

If the property is under joint ownership/ co-ownership, share of each owner. Are the shares undivided?	It is a single ownership

Brief Description of Property	Flat No. 401 in “Takle House” situated opposite Dabkewada, Raghoba Shankar Road, Off. Old Station Road, Chendani Thane (West) on plot bearing S. No. 63, Tika No. 2, Village Chendani

Location, Street and Ward No.	Situated Opposite Dabkewada, Raghoba Shankar Road, Off Old Station Road, Chendani in Thane (West)

Survey/ Plot No. of Land	S. No. 63, Tika No. 2, Village Chendani

Is the IP bears the same description/ details as mentioned in the documents/ title deeds	Yes

Is the property situated in residential/ mixed area/ industrial area	Property is in a mixed locality Residential as well as commercial locality

Is the property situated in an unauthorized/ authorized colony	Yes, it is authorized colony. C.C. No. V.P. 99/040 / TMC / TD DP / TPS / 775 dated 21.02.2009

Classification of locality high class/ middle class/ poor class	Middle Class Residential Locality

Is the IP in question or any part of it is under encroachment	No

Proximity to civic amenities like schools, hospitals, offices, market, cinema halls, etc.	Within Walking Distance

Means and Proximity to surface communication by which locality is served	By Auto and TMT Buses

Area supported by documentary proof, shape, dimensions and physical features	33.27 Sq. Mtr. Say 358 Sft Carpet 465 Sft Built up

Roads, streets or lanes on which the land is abutting, surrounded	Situated opposite Dabkewada, Raghoba Shankar Road, Off Old Station Road, Chendani in Thane (West)

Furnish details of the building on a separate sheet given

i) Number of floors and height of each floor	Ground plus eight storied

ii) Plinth area floor – wise	As per sanctioned drawing plan

iii) Year of Commencement of construction and year of completion	In the year 2004 – 2009 and completed in the year 2011 there abouts

What was the method of construction – by contract/ by employing labour Directly/ Both	Details not available

Type of construction/ finishing –	RCC Super Structure

i) Load bearing walls/ RCC Frame/ Steel Frame	RCC Frame

ii) Type of foundations	RCC Plinth Beams

iii) Walls (floor-wise)	Brickwork Walls

iv) Partitions	Brickwork Walls

v) Doors, Windows, etc. (Floor-Wise)	Wooden Door

vi) Flooring (Floor-wise)	Mosiac Tiles

vii) Finishing (Floor-wise)	Mosiac Tiles

viii) Roofing and Terracing	RCC Slabs

ix) Special Architectural or Decorative Features, if any	Nil – Premises in the subject is being used for commercial purpose

x) External Wiring – Surface of Conduit	Concealed – Single phase

xi) Class of Fittings – Superior/ Ordinary Poor	Ordinary

xii) Sanitary Installation – Numbers/ Ordinary/ Poor	Common for all

Compound Wall	Not Provided
a. Height and Length	Not Applicable
b. Type of Construction	Not Applicable

No. of Lifts and Capacity	Not Provided

Underground Pump – Capacity and Type of Construction	Available of adequate capacity

Overhead Tank	Available of adequate capacity
a. Where Located	On Terrace
b. Capacity	--
c. Type of Construction	--

Water Pumps – Number and Their Horse Power	Available of adequate capacity

Sewage Disposal – Sewer Line or Septic Tanks (No. and Capacity)	Connected to TMC sewerage line

Roads and Paving Within the compound, approximate area and type of paving	Not provided

Is the construction/ built up property is an per the plan approved by the competent	Construction is as per sanctioned plan

What is the floor space index permissible and percentage actually utilized?	1:1 entire FSI has been used

Estimated future life	Around 50 Years – if proper care and maintained of RCC super structure

Is it freehold or leasehold land?	Not applicable as property under consideration is flat

If leasehold, the name of lessor/ lessee, nature of lease, dates of commencement, and termination of lease and terms of renewal of lease i. Initial Premium ii. Ground rent payable per annum iii. Un earned increase payable to the lessor in the event of transfer iv. Are there any agreements of leasement?	Property is freehold

Is there is any restrictive convent in regard to use of land? If so details to be give	As per documents produced – there are no restrictive convent

Does the land fall in an area included in any town Planning Plan of Government or any statutory body: If so give particulars	Not Known

Has any contribution been made towards development or is any demand for such contribution still outstanding?	Not Known

Has the whole or part of the land been notified for acquisition by Government or any statutory body? Give the notification	As per available information – No

Is the building owner occupied / tenanted/ both	Flat is occupied by tenant

If partly owner occupied specify portion and extent of area of area under owner occupation	Not Applicable

a. Name of tenant/ lessees/ licensees, etc. b. Portion in their occupation c. Monthly or annual rent / Compensation / license fees etc. Paid by each d. Gross amount received for whole property Are any of the occupants related to or close business associates of owner?	At the time of inspection – flat was vacant

Is the building insured? If so give the policy no. amount for which it is insured and annual premium	Not Known as papers not available

Has any standard rent been fixed for the premises under any law relating to the control of rent?	Not Applicable

Is there any dispute between land lord and tenant regarding rent pending in court of law	Not applicable – as property is vacant

Whether possession of the property can be taken by the bank in case of need without any litigation (Society rules, independent entrance, co-owners share/ joint ownership, etc.)	In normal case Yes

The valuer should give in detail his approach to valuation of the property and indicate how the value has been arrived at, supported by necessary calculations (Rent capitalization method, municipal valuation for tax purpose, composite rate method for flat, etc.)	They have referred to stamp duty rates, inquiries with estate dealers, responses from advertisers on enquiry

a. Land rate adopted in the valuation	Market rates for flats in this area are between Rs. 10,000 to Rs. 12,000/Sft. Super built up depending upon location and condition. Rate adopted Rs. 12,000/Sft – Super Built up

b. Instances of sales of IPs in the locality indicating the name and address of the IPs, registration no., sale prices and area of land sold	Not Enclosed

c. If sales instances are not available or not relied upon, the basis of arriving at the land rate	Local Enquiry

Guideline value/ value of IP as per Circle rates, if any applicable in the area where IP is situated	Stamp duty rate 7,469/Sft. Built up and transactions are raking at much higher rates

Market value of the property	465 Sft. Super built up @ Rs. 12,000/Sft. – Super Built up – i.e. Rs. 5.580 Millions

Distress Sale Value/ Realisable Value of the Property	Around Rs. 5.022 Millions (As bank normally does distress sale and bank auctions are cornered and distress value is around 90% price of fair market price)

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VALUATION REPORT

GENERAL DETAILS

Date of Visit of the Site for Valuation of IP	20.09.2014

Date of Making Valuation	23.09.2014

Name of Owner(s) of the property	Mr. Rajesh Nathalal Barot
i) Date of Purchase of IP	10.12.2013
ii) Purchase Price of IP	Rs. 0.290 Million as on 10.12.2003

Document Details	Photocopy of Sale Agreement dated 10.12.2003 between Ashapura Enterprises (Promoter) and Mr. Rajesh Nathalal Barot (Purchaser) and Mrs. Yeshwanti H. Apte Alongwith Mr. Vasant H. Apte (Onwer)

Whether necessary enquires have been made from the concerned locality with regard to the ownership of the property	Yes

If the property is under joint ownership/ co-ownership, share of each owner. Are the shares undivided?	It is a single ownership

Brief Description of Property	Flat no. 501, in “Nilkanth Niwas” situated near Jain Temple, Ram Maruti Cross Road No. 1, Off Ram Ramuti Road and Off Ghantali Road and off Ghantali Road, in Thane (West) S. No. 28 Tika No. 23 Village Naupada

Location, Street and Ward No.	Near Jain Temple, Ram Maruti Cross Road No. 1, Off Ram Ramuti Road and Off Ghantali Road, In Thane (West)

Survey/ Plot No. of Land	S. No. 28 Tika No. 23 Village Naupada

Is the IP bears the same description/ details as mentioned in the documents/ title deeds	Yes

Is the property situated in residential/ mixed area/ industrial area	Property is in a mixed locality Residential as well as commercial locality

Is the property situated in an unauthorized/ authorized colony	Yes, it is authorized colony. C.C. No. V.P. 98/047 / TMC / TOD / 1589 dated 08.12.2001

Classification of locality high class/ middle class/ poor class	Middle and Upper Middle Class Residential Locality

Is the IP in question or any part of it is under encroachment	No

Proximity to civic amenities like schools, hospitals, offices, market, cinema halls, etc.	Within Walking Distance

Means and Proximity to surface communication by which locality is served	By Auto and TMT Buses

Area supported by documentary proof, shape, dimensions and physical features	440 Sft Carpet 528 Sft built up

Roads, streets or lanes on which the land is abutting, surrounded	Situated near Jain Temple, Ram Maruti Cross Road No. 1, Off Ram Ramuti Road and Off. Ghantali Road, in Thane (West)

Furnish details of the building on a separate sheet given

i) Number of floors and height of each floor	Ground (pt) plus five plus six

ii) Plinth area floor – wise	As per sanctioned drawing plan

iii) Year of Commencement of construction and year of completion	In the year 2001 or thereabouts

What was the method of construction – by contract/ by employing labour Directly/ Both	Details not available

Type of construction/ finishing –	RCC Super Structure

i) Load bearing walls/ RCC Frame/ Steel Frame	RCC Frame

ii) Type of foundations	RCC Plinth Beams

iii) Walls (floor-wise)	Brickwork Walls

iv) Partitions	Brickwork Walls

v) Doors, Windows, etc. (Floor-Wise)	Wooden Door

vi) Flooring (Floor-wise)	Mosiac Tiles

vii) Finishing (Floor-wise)	Mosiac Tiles

viii) Roofing and Terracing	RCC Slabs

ix) Special Architectural or Decorative Features, if any	Nil

x) External Wiring – Surface of Conduit	Concealed – Single phase

xi) Class of Fittings – Superior/ Ordinary Poor	Ordinary

xii) Sanitary Installation – Numbers/ Ordinary/ Poor	Common for all

Compound Wall	Not Provided
a. Height and Length	Not Applicable
b. Type of Construction	Not Applicable

No. of Lifts and Capacity	Not Provided

Underground Pump – Capacity and Type of Construction	Available of adequate capacity

Overhead Tank	Available of adequate capacity
a. Where Located	On Terrace
b. Capacity	--
c. Type of Construction	--

Water Pumps – Number and Their Horse Power	Available of adequate capacity

Sewage Disposal – Sewer Line or Septic Tanks (No. and Capacity)	Connected to TMC sewerage line

Roads and Paving Within the compound, approximate area and type of paving	Not provided

Is the construction/ built up property is an per the plan approved by the competent	Building is constructed as per sanctioned plan

What is the floor space index permissible and percentage actually utilized?	1:1 entire FSI has been used

Estimated future life	Around 50 Years – if proper care and maintained of RCC super structure

Is it freehold or leasehold land?	Not applicable as property under consideration is flat

If leasehold, the name of lessor/ lessee, nature of lease, dates of commencement, and termination of lease and terms of renewal of lease i. Initial Premium ii. Ground rent payable per annum iii. Un earned increase payable to the lessor in the event of transfer iv. Are there any agreements of leasement?	Property is freehold

Is there is any restrictive convent in regard to use of land? If so details to be give	As per documents produced – there are no restrictive convent

Does the land fall in an area included in any town Planning Plan of Government or any statutory body: If so give particulars	Not Known

Has any contribution been made towards development or is any demand for such contribution still outstanding?	Not Known

Has the whole or part of the land been notified for acquisition by Government or any statutory body? Give the notification	As per available information – No

Is the building owner occupied / tenanted/ both	Flat is occupied by tenant

If partly owner occupied specify portion and extent of area of area under owner occupation	Not Applicable

Name of tenant/ lessees/ licensees, etc.	Mr. Palak J. Barot – Relative of owner is staying in the flat

Portion in their occupation	100%

Monthly or annual rent / Compensation / license fees etc. Paid by each	Nil

Gross amount received for whole property	Nil

Are any of the occupants related to or close business associates of owner?	Yes, Relative

Is the building insured? If so give the policy no. amount for which it is insured and annual premium	Details are not available

Has any standard rent been fixed for the premises under any law relating to the control of rent?	Not Applicable

Is there any dispute between land lord and tenant regarding rent pending in court of law	Not applicable

Whether possession of the property can be taken by the bank in case of need without any litigation (Society rules, independent entrance, co-owners share/ joint ownership, etc.)	In normal case Yes

The valuer should give in detail his approach to valuation of the property and indicate how the value has been arrived at, supported by necessary calculations (Rent capitalization method, municipal valuation for tax purpose, composite rate method for flat, etc.)	They have referred to stamp duty rates, inquiries with estate dealers, responses from advertisers on enquiry

a. Land rate adopted in the valuation	Market rates for flats in this area are between Rs. 10,000 to Rs. 13,000/Sft. Super built up depending upon location and condition. Rate adopted Rs. 13,000/Sft. – super built up

b. Instances of sales of IPs in the locality indicating the name and address of the IPs, registration no., sale prices and area of land sold	Not Enclosed

c. If sales instances are not available or not relied upon, the basis of arriving at the land rate	Local Enquiry

Guideline value/ value of IP as per Circle rates, if any applicable in the area where IP is situated	Stamp duty rate Rs. 7478/Sft. Built up and transactions are taking at much higher rates

Market value of the property	528 Sft. Built up @ Rs. 13,000/Sft – built up – i.e. Rs. 6.864 Millions

Distress Sale Value/ Realisable Value of the Property	Around Rs. 6.177 Millions (As bank normally does distress sale and bank auctions are cornered and distress value is around 90% price of fair market price)

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VALUATION REPORT

GENERAL DETAILS

Date of Visit of the Site for Valuation of IP	03.07.2014

Date of Making Valuation	05.07.2014

Name of Owner(s) of the property	Mr. Mukesh Nathalal Barot
i) Date of Purchase of IP	Mr. Mukesh Nathalal Barot (Present Owner), entered into “Sathe Karar” with Mr. Bhaskar U. Vaiti Mrs. Indirabai P. Mastan and Mrs. Barkubai R. Madhavi (Sellers) on 10.12.2003 Mr. Mukesh Nathalal Barot (Present Owner), entered into “Purchase Agreement” with Mr. Bhaskar U. Vaiti Mrs. Indirabai P. Mastan and Mrs. Barkubai R. Madhavi (Sellers) on 23.06.2004
ii) Purchase Price of IP	Rs. 0.130 Million as on 10.12.2003

Whether necessary enquires have been made from the concerned locality with regard to the ownership of the property	Yes

If the property is under joint ownership/ co-ownership, share of each owner. Are the shares undivided?	It is a single ownership

Brief Description of Property	“Hotel Court Yard” situated on plot bearing S. No. 14 (New) 192 (Old) Hissa No. 6 at Village Mogharpada (Ovale) Taluka and District Thane

Location, Street and Ward No.	On Ghodbunder Road Opposite “Hotel Vishnu Ji Ki Rasoi” “Shelter Farm” and “Ambrosia” at village Mogharpada (Ovale), in Thane (West)

Survey/ Plot No. of Land	S. No. 14 (New) 192 (Old) Hissa No. 6

Is the IP bears the same description/ details as mentioned in the documents/ title deeds	Yes

Is the property situated in residential/ mixed area/ industrial area	Property is a plot situated in Green Zone in a residential locality

Is the property situated in an unauthorized/ authorized colony	Yes, it is authorized construction Permit No.: VP 2006 / 111 / TMC / TD DP / TPS / 198 dated 25.06.2007

Classification of locality high class/ middle class/ poor class	Middle and Upper Middle Class Residential Locality

Is the IP in question or any part of it is under encroachment	No

Proximity to civic amenities like schools, hospitals, offices, market, cinema halls, etc.	Within Walking Distance

Means and Proximity to surface communication by which locality is served	By Auto and TMT Buses

Area supported by documentary proof, shape, dimensions and physical features
Area of Plot	30.40.00 Sq. Mtrs.
Permissible	151.38 Sq. Mtrs.

Roads, streets or lanes on which the land is abutting, surrounded	It is situated on Ghodbunder road opposite “Hotel Vishnu ji ki Rasoi”, “Shelter Farm” and “Ambrosia” in Thane (West)

Furnish details of the building on a separate sheet given

i) Number of floors and height of each floor	Ground Floor Structures

ii) Permissible plinth area floor-wise	151.38 Sq. Mtrs.

iii) Year of Commencement of construction and year of completion	In the year 2007 or these abouts

What was the method of construction – by contract/ by employing labour Directly/ Both	Details not available

Type of construction/ finishing –	Open Structures

i) Load bearing walls/ RCC Frame/ Steel Frame	Steel structures with brick walls from sides

ii) Type of foundations	RCC Plinth Beams

iii) Walls (floor-wise)	Brickwork Walls

iv) Partitions	Brickwork Walls

v) Doors, Windows, etc. (Floor-Wise)	Wooden Door

vi) Flooring (Floor-wise)	Mosiac Tiles

vii) Finishing (Floor-wise)	Mosiac Tiles

viii) Roofing and Terracing	RCC Slabs and load bearing structures with Mangalore tiles roofing

ix) Special Architectural or Decorative Features, if any	Premises is very well furnished for use as Hotel

x) External Wiring – Surface of Conduit	Concealed and Open both

xi) Class of Fittings – Superior/ Ordinary Poor	Very Good

xii) Sanitary Installation – Numbers/ Ordinary/ Poor	Provided

Compound Wall	Provided
a. Height and Length	Not Applicable
b. Type of Construction	RCC Structure

No. of Lifts and Capacity	Not Provided

Underground Pump – Capacity and Type of Construction	Available of adequate capacity

Overhead Tank	Available of adequate capacity

Water Pumps – Number and Their Horse Power	Available of adequate capacity

Sewage Disposal – Sewer Line or Septic Tanks (No. and Capacity)	Septic Tank

Roads and Paving Within the compound, approximate area and type of paving	As per details provided

Is the construction/ built up property is an per the plan approved by the competent	TMC has approved plan for a ground floor strucrture measuring around 152 Sq. Mtrs. say 1632.80 Sft. Whereas owner has constructed Hotel by name “Court Yard” measuring aroud 6,184 Sft. On the plot

What is the floor space index permissible and percentage actually utilized?	0.05 entire FSI has been used

Estimated future life	Around 40 Years – if proper care and maintained of RCC super structure

Is it freehold or leasehold land?	Property is freehold

If leasehold, the name of lessor/ lessee, nature of lease, dates of commencement, and termination of lease and terms of renewal of lease i. Initial Premium ii. Ground rent payable per annum iii. Un earned increase payable to the lessor in the event of transfer iv. Are there any agreements of leasement?	Not Applicable

Is there is any restrictive convent in regard to use of land? If so details to be give	Plot is situated in Green Zone – hence there are restrictions on permissible use of plot as per DCR rules

Does the land fall in an area included in any town Planning Plan of Government or any statutory body: If so give particulars	Plot is situated in Green Zone

Has any contribution been made towards development or is any demand for such contribution still outstanding?	Not Known

Has the whole or part of the land been notified for acquisition by Government or any statutory body? Give the notification	As per available information – No

Is the building owner occupied / tenanted/ both	As per available information plot is in possession of owner

If partly owner occupied specify portion and extent of area of area under owner occupation	Not Applicable

a. Name of tenant/ lessees/ licensees, etc. b. Portion in their occupation c. Monthly or annual rent / Compensation / license fees etc. Paid by each d. Gross amount received for whole property e. Are any of the occupants related to or close business associates of owner?	Not Applicable

Portion in their occupation	Not Applicable

Monthly or annual rent / Compensation / license fees etc. Paid by each	Not Applicable

Gross amount received for whole property	Not Applicable

Are any of the occupants related to or close business associates of owner?	Not Applicable

Is the building insured? If so give the policy no. amount for which it is insured and annual premium	Not known as papers not available

Has any standard rent been fixed for the premises under any law relating to the control of rent?	Not applicable

Is there any dispute between land lord and tenant regarding rent pending in court of law	Not Applicable – as per information provided by owner property is in his possession of owner and there is no tenant.

Whether possession of the property can be taken by the bank in case of need without any litigation (Society rules, independent entrance, co-owners share/ joint ownership, etc.)	In normal case Yes

The valuer should give in detail his approach to valuation of the property and indicate how the value has been arrived at, supported by necessary calculations (Rent capitalization method, municipal valuation for tax purpose, composite rate method for flat, etc.)	Property is situated in “Green Zone” wherein there aere restrictions on permissible use of plot as per DCR rules. TMC has granted permission to use property as Holiday Home whereas a Hotel by name “Court Yard” is being operated from the plot. Client has obtained licenses from various departments and is operating Hotel. 1. Permission from Central Excise to run Bar and permit room. 2. Permission from Shop and Establishment Department Thane Municipal Corporation Prevailing for shops in this area are in the range of Rs. 15,000 to Rs. 20,000/Sft. – super built up (carpe plus 40 to 50%) Plot has permission to construct 1,632.80 Sft. Built up – whereas actual construction is around 5,800 Sft. Built up, since valuation is for security purpose permissible Construction measuring 1,636.12 Sft. Built up or say 2,421.90 Sft. – super built up is valued @ Rs. 18,000/Sft. – Super Built up – hence for the same market price of Say Rs. 38.500 Millions is reasonable. Area of plot is 3,040 Sq. Mtrs. and permissible construction is 152 Sq. Mtrs. balance plot measuring 2,888.00 Sq. Mtrs. is valued @ Rs. 9,500/ Sq. Mtrs. (at rate slightly above stamp duty rate) hence market price of Rs. 8,800/ Sq. Mtrs. Zone sub zone 21/80 of stamp duty reckoner for Thane for year 2014, but Stamp duty rates are not directly comparable because these rates are for Land/ Plot having FSI of 1 : 1 whereas plot under consideration has FSI of 1 : 0.05 Fair market price of plot and construction over it is estimated Rs. 65.985 Millions Hotel is fully furnished and has equipments which are together valued at Rs. 1.500 Millions Fair Market price of land plus furniture fixtures, modifications Equipments, etc. Rs. 67.485 Millions

a. Land rate adopted in the valuation	As per details mentioned above

b. Instances of sales of IPs in the locality indicating the name and address of the IPs, registration no., sale prices and area of land sold	Not Enclosed

c. If sales instances are not available or not relied upon, the basis of arriving at the land rate	Local Enquiry

Guideline value/ value of IP as per Circle rates, if any applicable in the area where IP is situated	Stamp duty rate: Rs. 8,800/ Sq. Mtr.

Market value of the property	Rs. 67.485 Millions

Realizable Value of the Property	Rs. 64.100 Millions

Distress Sale Value of the Property	Rs. 60.735 Millions

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VALUATION REPORT

GENERAL DETAILS

Date of Visit of the Site for Valuation of IP	02.07.2014

Date of Making Valuation	04.07.2014

Name of Owner(s) of the property	Mr. Mukesh Nathalal Barot
i) Date of Purchase of IP	25.08.2010
ii) Purchase Price of IP	Rs. 4.000 Millions as on 25.08.2010

Documents	Photocopy of sale agreement dated 25.08.2010 between Mr. Jayantilal Alias Dayaram Harji Shakla and Mr. Mukesh Nathalal Barot

Whether necessary enquires have been made from the concerned locality with regard to the ownership of the property	Yes

If the property is under joint ownership/ co-ownership, share of each owner. Are the shares undivided?	It is a single ownership

Brief Description of Property	Flat No. 6, ‘A’ Wing, in “Om Satya Pushpa CHS Limited” situated near Saraswati English School, Dharamveer Marg, Tekdi, Panchpakhadi in Thane (West) S. No. 356, 363 H. No. 4 Soc. Reg. No.: TNA / (TNA) / HSG / (TC) / 10502 / dated 01.11.1989

Location, Street and Ward No.	Near Sarashwati English School, Dharmaveer Marg, Tekdi, Panchpakhadi in Thane (West)

Survey/ Plot No. of Land	S. No. 356, 363 H. No. 4

Is the IP bears the same description/ details as mentioned in the documents/ title deeds	Yes

Is the property situated in residential/ mixed area/ industrial area	Residential locality

Is the property situated in an unauthorized/ authorized colony	Yes Property is situated in authorized colony

Classification of locality high class/ middle class/ poor class	Middle Class Residential Locality

Is the IP in question or any part of it is under encroachment	No

Proximity to civic amenities like schools, hospitals, offices, market, cinema halls, etc.	Within Walking Distance

Means and Proximity to surface communication by which locality is served	By Auto and TMT Buses

Area supported by documentary proof, shape, dimensions and physical features	625 Sft. Built up

Roads, streets or lanes on which the land is abutting, surrounded	Situated near Sarashwati English School, Dharmaveer Marg, Tekdi, Panchpakhadi in Thane (West)

Furnish details of the building on a separate sheet given

i) Number of floors and height of each floor	Ground plus multi storied

ii) Plinth area floor-wise	As per sanctioned plan

iii) Year of Commencement of construction and year of completion	In the year 1991 or these abouts

What was the method of construction – by contract/ by employing labour Directly/ Both	Details not available

Type of construction/ finishing –	RCC super structure

i) Load bearing walls/ RCC Frame/ Steel Frame	RCC Frame

ii) Type of foundations	RCC Plinth Beams

iii) Walls (floor-wise)	Brickwork Walls

iv) Partitions	Brickwork Walls

v) Doors, Windows, etc. (Floor-Wise)	Wooden Door

vi) Flooring (Floor-wise)	Marble Tiles

vii) Finishing (Floor-wise)	Marble Tiles

viii) Roofing and Terracing	RCC Slabs

ix) Special Architectural or Decorative Features, if any	Flat in the subject is being used as office and it is converted as per requirement for office by removing partition walls of flat and make a spacious office using decorative furniture work, etc.

x) External Wiring – Surface of Conduit	Concealed – Single Phase

xi) Class of Fittings – Superior/ Ordinary Poor	Superior

xii) Sanitary Installation – Numbers/ Ordinary/ Poor	Common for all

Compound Wall	It is around the building
a. Height and Length	Around 4ft. above
b. Type of Construction	UG rubble, AB brickwork

No. of Lifts and Capacity	Not Provided

Underground Pump – Capacity and Type of Construction	Available of adequate capacity

Overhead Tank	Available of adequate capacity
- Where Located	On Terrace

Water Pumps – Number and Their Horse Power	Available of adequate capacity

Sewage Disposal – Sewer Line or Septic Tanks (No. and Capacity)	Connected to TMC sewerage line

Roads and Paving Within the compound, approximate area and type of paving	Concrete

Is the construction/ built up property is an per the plan approved by the competent	Property is constructed – as per sanctioned plan

What is the floor space index permissible and percentage actually utilized?	1 : 1 entire FSI has been used

Estimated future life	Around 40 Years – if proper care and maintained of RCC super structure

Is it freehold or leasehold land?	Not Applicable as property under consideration is flat

If leasehold, the name of lessor/ lessee, nature of lease, dates of commencement, and termination of lease and terms of renewal of lease i. Initial Premium ii. Ground rent payable per annum iii. Un earned increase payable to the lessor in the event of transfer iv. Are there any agreements of leasement?	Property is freehold

Is there is any restrictive convent in regard to use of land? If so details to be give	As per documents produced – there are no restrictive convent

Does the land fall in an area included in any town Planning Plan of Government or any statutory body: If so give particulars	Not Known

Has any contribution been made towards development or is any demand for such contribution still outstanding?	Not Known

Has the whole or part of the land been notified for acquisition by Government or any statutory body? Give the notification	As per available information – No

Is the building owner occupied / tenanted/ both	Flat is occupied by owner

If partly owner occupied specify portion and extent of area of area under owner occupation	Flat is occupied by owner

a. Name of tenant/ lessees/ licensees, etc. b. Portion in their occupation c. Monthly or annual rent / Compensation / license fees etc. Paid by each d. Gross amount received for whole property e. Are any of the occupants related to or close business associates of owner?	Not Applicable

Is the building insured? If so give the policy no. amount for which it is insured and annual premium	As per available information building is not insured

Has any standard rent been fixed for the premises under any law relating to the control of rent?	Not applicable

Is there any dispute between land lord and tenant regarding rent pending in court of law	Not Applicable – as property is in possession of owner and there is no tenant

Whether possession of the property can be taken by the bank in case of need without any litigation (Society rules, independent entrance, co-owners share/ joint ownership, etc.)	In normal case Yes

The valuer should give in detail his approach to valuation of the property and indicate how the value has been arrived at, supported by necessary calculations (Rent capitalization method, municipal valuation for tax purpose, composite rate method for flat, etc.)	They have referred to stamp duty rates, inquiries with estate dealers, responses from advertisers on enquiry

a. Land rate adopted in the valuation	Market rates for flats in this area are between Rs. 13,000 to Rs. 15,000/sft. Built up depending upon location and condition rate adopted Rs. 14,500/Sft. – built up

b. Instances of sales of IPs in the locality indicating the name and address of the IPs, registration no., sale prices and area of land sold	Not Enclosed

c. If sales instances are not available or not relied upon, the basis of arriving at the land rate	Local Enquiry

Guideline value/ value of IP as per Circle rates, if any applicable in the area where IP is situated	Stamp duty rate: Rs. 7,680/ Sft. Built up Rs. 82,700/ Sq. Mtr.

Market value of the property	625 Sft. Built up @ Rs. 14,500/Sft. – built up – i.e. Rs. 9.060 Millions

Realizable Value of the Property	Around Rs. 8.600 Millions

Distress Sale Value of the Property	Around Rs. 8.150 Millions (As bank normally does distress sale and bank auctions are cornered and distress value is around 90% price of fair market price)

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VALUATION REPORT

GENERAL DETAILS

Date of Visit of the Site for Valuation of IP	02.07.2014

Date of Making Valuation	04.07.2014

Name of Owner(s) of the property	Mr. Rajesh Nathalal Barot
i) Date of Purchase of IP	04.04.2010
ii) Purchase Price of IP	Rs. 3.800 Millions as on 06.04.2010

Documents	Photocopy of sale agreement dated 06-04-2010 between Mr. Amarjotsing A. Gulati and Mr. Rajesh Nathalal Barot

Whether necessary enquires have been made from the concerned locality with regard to the ownership of the property	Yes

If the property is under joint ownership/ co-ownership, share of each owner. Are the shares undivided?	It is a single ownership

Brief Description of Property	Flat No. 301, ‘A’ – Wing, Car Parking Space No. 30 in “Sita Vihar CHS Limited” near Damani Estate, above Shamrao Vitthal Bank, L.B.S. Marg, Naupada in Thane (West). CTS No. 15, 47, 48, 49, 50 Tika No. 18 Soc. Reg. No.: TNA / (TNA) / HSG / (TC) / 10587 / dated 08-09-1999

Location, Street and Ward No.	Near Damani Estate, on L.B.S. Marg, Naupada in Thane (West) Shamrao Vitthal Bank is situated in same building

Survey/ Plot No. of Land	Tika no. 18, C.T.S. No. 15, 47 to 50, village Naupada

Is the IP bears the same description/ details as mentioned in the documents/ title deeds	Yes

Is the property situated in residential/ mixed area/ industrial area	Residential locality

Is the property situated in an unauthorized/ authorized colony	Yes, it is authorized colony O.C. No. V.P. 84161 B dated 30.10.1991

Classification of locality high class/ middle class/ poor class	Middle Class Residential Locality

Is the IP in question or any part of it is under encroachment	No

Proximity to civic amenities like schools, hospitals, offices, market, cinema halls, etc.	Within Walking Distance

Means and Proximity to surface communication by which locality is served	By Auto and TMT Buses

Area supported by documentary proof, shape, dimensions and physical features	69.00 Sq. Mtr. carpet plus 7 Sq. Mtr parking space Say 742 Sft. Carpet or say 891 Sft. Built up or 965 Sft. Super built up

Roads, streets or lanes on which the land is abutting, surrounded	Near Damani Estate, Above Shamrao Vitthal Bank, L.B.S. Marg, Nuapada in Thane (West)

Furnish details of the building on a separate sheet given

i) Number of floors and height of each floor	Ground plus eight upper floors

ii) Plinth area floor-wise	Construction is as per sanctioned plan

iii) Year of Commencement of construction and year of completion	In the year 1988-89 and completed in the year 1991 there abouts

What was the method of construction – by contract/ by employing labour Directly/ Both	Details not available

Type of construction/ finishing –	RCC super structure

i) Load bearing walls/ RCC Frame/ Steel Frame	RCC Frame

ii) Type of foundations	RCC Plinth Beams

iii) Walls (floor-wise)	Brickwork Walls

iv) Partitions	Brickwork Walls

v) Doors, Windows, etc. (Floor-Wise)	Wooden Door

vi) Flooring (Floor-wise)	Marble Tiles

vii) Finishing (Floor-wise)	Marble Tiles

viii) Roofing and Terracing	RCC Slabs

ix) Special Architectural or Decorative Features, if any	It is a Tow bedroom, hall, kitchen flat with balcony with marble flooring, false ceiling with spot light, wardrobes, decorative furniture works, etc. and it is fully furnished flat. Flat No. 301 and 302 are internally connected to each other and make spacious flat

x) External Wiring – Surface of Conduit	Concealed – Single Phase

xi) Class of Fittings – Superior/ Ordinary Poor	Superior

xii) Sanitary Installation – Numbers/ Ordinary/ Poor	Common for all

Compound Wall	It is around the building
a. Height and Length	Around 4ft. above
b. Type of Construction	UG rubble, AB brickwork

No. of Lifts and Capacity	Yes, Available – Two numbers

Underground Pump – Capacity and Type of Construction	Available of adequate capacity

Overhead Tank	Available of adequate capacity
- Where Located	On Terrace

Water Pumps – Number and Their Horse Power	Available of adequate capacity

Sewage Disposal – Sewer Line or Septic Tanks (No. and Capacity)	Connected to TMC sewerage line

Roads and Paving Within the compound, approximate area and type of paving	Concrete

Is the construction/ built up property is an per the plan approved by the competent	Construction is as per sanctioned plan

What is the floor space index permissible and percentage actually utilized?	1 : 1 entire FSI has been used

Estimated future life	Around 40 Years – if proper care and maintained of RCC super structure

Is it freehold or leasehold land?	Not Applicable as property under consideration is flat

If leasehold, the name of lessor/ lessee, nature of lease, dates of commencement, and termination of lease and terms of renewal of lease i. Initial Premium ii. Ground rent payable per annum iii. Un earned increase payable to the lessor in the event of transfer iv. Are there any agreements of leasement?	Property is freehold

Is there is any restrictive convent in regard to use of land? If so details to be give	As per documents produced – there are no restrictive convent

Does the land fall in an area included in any town Planning Plan of Government or any statutory body: If so give particulars	Not Known

Has any contribution been made towards development or is any demand for such contribution still outstanding?	Not Known

Has the whole or part of the land been notified for acquisition by Government or any statutory body? Give the notification	As per available information – No

Is the building owner occupied / tenanted/ both	Flat is occupied by owner

If partly owner occupied specify portion and extent of area of area under owner occupation	Flat is occupied by owner

a. Name of tenant/ lessees/ licensees, etc. b. Portion in their occupation c. Monthly or annual rent / Compensation / license fees etc. Paid by each d. Gross amount received for whole property e. Are any of the occupants related to or close business associates of owner?	Not Applicable

Is the building insured? If so give the policy no. amount for which it is insured and annual premium	As per available information building is not insured

Has any standard rent been fixed for the premises under any law relating to the control of rent?	Not applicable

Is there any dispute between land lord and tenant regarding rent pending in court of law	Not known as papers not available

Whether possession of the property can be taken by the bank in case of need without any litigation (Society rules, independent entrance, co-owners share/ joint ownership, etc.)	Not applicable

The valuer should give in detail his approach to valuation of the property and indicate how the value has been arrived at, supported by necessary calculations (Rent capitalization method, municipal valuation for tax purpose, composite rate method for flat, etc.)	Not Applicable – as property is in possession of owner and there is no tenant

a. Land rate adopted in the valuation	In normal case Yes

b. Instances of sales of IPs in the locality indicating the name and address of the IPs, registration no., sale prices and area of land sold	They have referred to stamp duty rates, inquiries with estate dealers, responses from advertisers on enquiry

c. If sales instances are not available or not relied upon, the basis of arriving at the land rate	Market rates for flats in this are between Rs. 13,000 to Rs. 14,000/Sft. Super built up depending upon location and condition. Rate adopted Rs. 14,000/Sft. – super built up

Guideline value/ value of IP as per Circle rates, if any applicable in the area where IP is situated	Not enclosed

Market value of the property	965 Sft. Super built up @ Rs. 14,000/Sft. – super built up – i.e. Rs. 13.510 Millions

Realizable Value of the Property	Around Rs. 12.835 Millions

Distress Sale Value of the Property	Around Rs. 12.159 Millions (As bank normally does distress sale and bank auctions are cornered and distress value is around 90% price of fair market price)

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VALUATION REPORT

GENERAL DETAILS

Date of Visit of the Site for Valuation of IP	04.07.2014

Date of Making Valuation	04.07.2014

Name of Owner(s) of the property	Mr. Mukesh Nathalal Barot
i) Date of Purchase of IP	16.07.2009
ii) Purchase Price of IP	Rs. 4.000 Millions as on 16.07.2009

Documents	Photocopy of sale agreement dated 16.07.2009 between Mr. Vikram C. Modi and Mr. Mukesh Nathalal Barot

Whether necessary enquires have been made from the concerned locality with regard to the ownership of the property	Yes

If the property is under joint ownership/ co-ownership, share of each owner. Are the shares undivided?	It is a single ownership

Brief Description of Property	Flat No. 15, Building No. 3 in “Sahyadri CHS Limited” situated opposite Talwalkar Gym, junction of Madanlal Dingra Road and Arun Kumar Vaidya Road, Panchpakhadi in Thane (West) CTS No. 1072 to 1073 and 889, TPS NO. 1 Final Plot No. 275 Tika No. 18 Soc. Reg. No.: TNA / (TNA) / HSG / (TC) / 168 / 1965

Location, Street and Ward No.	Situated opposite Talwalkar Gym, junction of Madanlal Dingra Road and Arun Kumar Vaidya Road, Panchpakhadi in Thane (West)

Survey/ Plot No. of Land	CTS No. 1072 to 1073 and 889, TPS No. 1 Final Plot No. 275 Tika No. 18. Village Panchpakhadi

Is the IP bears the same description/ details as mentioned in the documents/ title deeds	Yes

Is the property situated in residential/ mixed area/ industrial area	Residential locality

Is the property situated in an unauthorized/ authorized colony	Yes, it is authorised colony. O.C. No. V.P. 788 dated 27.05.1982

Classification of locality high class/ middle class/ poor class	Middle Class Residential Locality

Is the IP in question or any part of it is under encroachment	No

Proximity to civic amenities like schools, hospitals, offices, market, cinema halls, etc.	Within Walking Distance

Means and Proximity to surface communication by which locality is served	By Auto and TMT Buses

Area supported by documentary proof, shape, dimensions and physical features	740 Sft. Carpet or say 888 Sft. Built up 962 Sft. Super built up

Roads, streets or lanes on which the land is abutting, surrounded	Situated opposite Talwalkar Sym, junction of Madanlal Dingra Road and Arun Kumar Vaidya Road, Panchpakhadi in Thane (West)

Furnish details of the building on a separate sheet given

i) Number of floors and height of each floor	Ground plus three storied

ii) Plinth area floor-wise	Could not be ascertained – as building drawings are not available

iii) Year of Commencement of construction and year of completion	Completed in the year 1982 there abouts

What was the method of construction – by contract/ by employing labour Directly/ Both	Details not available

Type of construction/ finishing –	RCC super structure

i) Load bearing walls/ RCC Frame/ Steel Frame	RCC Frame

ii) Type of foundations	RCC Plinth Beams

iii) Walls (floor-wise)	Brickwork Walls

iv) Partitions	Brickwork Walls

v) Doors, Windows, etc. (Floor-Wise)	Wooden Door

vi) Flooring (Floor-wise)	Marble Tiles

vii) Finishing (Floor-wise)	Marble Tiles

viii) Roofing and Terracing	RCC Slabs

ix) Special Architectural or Decorative Features, if any	It is a Three bedroom, hall, kitchen flat with dinning space, marble flooring, false ceiling with spot light, wardrobes, decorative furniture works, etc. and it’s fully furnished flat

x) External Wiring – Surface of Conduit	Concealed – Single Phase

xi) Class of Fittings – Superior/ Ordinary Poor	Superior

xii) Sanitary Installation – Numbers/ Ordinary/ Poor	Common for all

Compound Wall	It is around the building
a. Height and Length	Around 4ft. above
b. Type of Construction	UG rubble, AB brickwork

No. of Lifts and Capacity	Not Provided

Underground Pump – Capacity and Type of Construction	Available of adequate capacity

Overhead Tank	Available of adequate capacity
- Where Located	On Terrace

Water Pumps – Number and Their Horse Power	Available of adequate capacity

Sewage Disposal – Sewer Line or Septic Tanks (No. and Capacity)	Connected to TMC sewerage line

Roads and Paving Within the compound, approximate area and type of paving	Concrete

Is the construction/ built up property is an per the plan approved by the competent	As per Approved plan, Occupation Certificate from Competent Authority Verified

What is the floor space index permissible and percentage actually utilized?	1 : 1 entire FSI has been used

Estimated future life	Around 30 Years – if proper care and maintenance of RCC super structure

Is it freehold or leasehold land?	Not Applicable as property under consideration is flat

If leasehold, the name of lessor/ lessee, nature of lease, dates of commencement, and termination of lease and terms of renewal of lease i. Initial Premium ii. Ground rent payable per annum iii. Un earned increase payable to the lessor in the event of transfer iv. Are there any agreements of leasement?	Property is freehold

Is there is any restrictive convent in regard to use of land? If so details to be give	As per documents produced – there are no restrictive convent

Does the land fall in an area included in any town Planning Plan of Government or any statutory body: If so give particulars	Not Known

Has any contribution been made towards development or is any demand for such contribution still outstanding?	Not Known

Has the whole or part of the land been notified for acquisition by Government or any statutory body? Give the notification	As per available information – No

Is the building owner occupied / tenanted/ both	Flat is occupied by owner

If partly owner occupied specify portion and extent of area of area under owner occupation	Flat is occupied by owner

a. Name of tenant/ lessees/ licensees, etc. b. Portion in their occupation c. Monthly or annual rent / Compensation / license fees etc. Paid by each d. Gross amount received for whole property e. Are any of the occupants related to or close business associates of owner?	Not Applicable

Is the building insured? If so give the policy no. amount for which it is insured and annual premium	Not known as paper not available

Has any standard rent been fixed for the premises under any law relating to the control of rent?	Not applicable

Is there any dispute between land lord and tenant regarding rent pending in court of law	Not Applicable – as property is in possession of owner and there is no tenant

Whether possession of the property can be taken by the bank in case of need without any litigation (Society rules, independent entrance, co-owners share/ joint ownership, etc.)	In normal case Yes

The valuer should give in detail his approach to valuation of the property and indicate how the value has been arrived at, supported by necessary calculations (Rent capitalization method, municipal valuation for tax purpose, composite rate method for flat, etc.)	They have referred to stamp duty rates, inquiries with estate dealers, responses from advertisers on enquiry

a. Land rate adopted in the valuation	Market rates for flats in this area are between Rs. 13,000 to Rs. 15,000/sft. Built up depending upon location and condition rate adopted Rs. 14,000/Sft. – built up

b. Instances of sales of IPs in the locality indicating the name and address of the IPs, registration no., sale prices and area of land sold	Not Enclosed

c. If sales instances are not available or not relied upon, the basis of arriving at the land rate	Local Enquiry

Guideline value/ value of IP as per Circle rates, if any applicable in the area where IP is situated	Stamp duty rate: Rs. 7,680/ Sft. Built up Rs. 82,700/ Sq. Mtr.

Market value of the property	962 Sft. Built up @ Rs. 14,000/ Sft. Built up i.e. Rs. 13.470 Millions

Realizable Value of the Property	Around Rs. 12.800 Millions

Distress Sale Value of the Property	Around Rs. 12.100 Millions (As bank normally does distress sale and bank auctions are cornered and distress value is around 90% price of fair market price)

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

VALUATION REPORT

GENERAL DETAILS

Date of Visit of the Site for Valuation of IP	04.07.2014

Date of Making Valuation	04.07.2014

Name of Owner(s) of the property	Mr. Mukesh Nathalal Barot
i) Date of Purchase of IP	16.07.2009
ii) Purchase Price of IP	Rs. 4.000 Millions as on 16.07.2009

Documents	Photocopy of sale agreement dated 16.07.2009 between Mr. Vikram C. Modi and Mr. Mukesh Nathalal Barot

Whether necessary enquires have been made from the concerned locality with regard to the ownership of the property	Yes

If the property is under joint ownership/ co-ownership, share of each owner. Are the shares undivided?	It is a single ownership

Brief Description of Property	Flat No. 15, Building No. 3 in “Sahyadri CHS Limited” situated opposite Talwalkar Gym, junction of Madanlal Dingra Road and Arun Kumar Vaidya Road, Panchpakhadi in Thane (West) CTS No. 1072 to 1073 and 889, TPS NO. 1 Final Plot No. 275 Tika No. 18 Soc. Reg. No.: TNA / (TNA) / HSG / (TC) / 168 / 1965

Location, Street and Ward No.	Situated opposite Talwalkar Gym, junction of Madanlal Dingra Road and Arun Kumar Vaidya Road, Panchpakhadi in Thane (West)

Survey/ Plot No. of Land	CTS No. 1072 to 1073 and 889, TPS No. 1 Final Plot No. 275 Tika No. 18. Village Panchpakhadi

Is the IP bears the same description/ details as mentioned in the documents/ title deeds	Yes

Is the property situated in residential/ mixed area/ industrial area	Residential locality

Is the property situated in an unauthorized/ authorized colony	Yes, it is aurhorised colony. O.C. No. V.P. 788 dated 27.05.1982

Classification of locality high class/ middle class/ poor class	Middle Class Residential Locality

Is the IP in question or any part of it is under encroachment	No

Proximity to civic amenities like schools, hospitals, offices, market, cinema halls, etc.	Within Walking Distance

Means and Proximity to surface communication by which locality is served	By Auto and TMT Buses

Area supported by documentary proof, shape, dimensions and physical features	740 Sft. Carpet or say 888 Sft. Built up 962 Sft. Super built up

Roads, streets or lanes on which the land is abutting, surrounded	Situated opposite Talwalkar Sym, junction of Madanlal Dingra Road and Arun Kumar Vaidya Road, Panchpakhadi in Thane (West)

Furnish details of the building on a separate sheet given

i) Number of floors and height of each floor	Ground plus three storied

ii) Plinth area floor-wise	Could not be ascertained – as building drawings are not available

iii) Year of Commencement of construction and year of completion	Completed in the year 1982 there abouts

What was the method of construction – by contract/ by employing labour Directly/ Both	Details not available

Type of construction/ finishing –	RCC super structure

i) Load bearing walls/ RCC Frame/ Steel Frame	RCC Frame

ii) Type of foundations	RCC Plinth Beams

iii) Walls (floor-wise)	Brickwork Walls

iv) Partitions	Brickwork Walls

v) Doors, Windows, etc. (Floor-Wise)	Wooden Door

vi) Flooring (Floor-wise)	Marble Tiles

vii) Finishing (Floor-wise)	Marble Tiles

viii) Roofing and Terracing	RCC Slabs

ix) Special Architectural or Decorative Features, if any	It is a Three bedroom, hall, kitchen flat with dinning space, marble flooring, false ceiling with spot light, wardrobes, decorative furniture works, etc. and it’s fully furnished flat

x) External Wiring – Surface of Conduit	Concealed – Single Phase

xi) Class of Fittings – Superior/ Ordinary Poor	Superior

xii) Sanitary Installation – Numbers/ Ordinary/ Poor	Common for all

Compound Wall	It is around the building
a. Height and Length	Around 4ft. above
b. Type of Construction	UG rubble, AB brickwork

No. of Lifts and Capacity	Not Provided

Underground Pump – Capacity and Type of Construction	Available of adequate capacity

Overhead Tank	Available of adequate capacity
- Where Located	On Terrace

Water Pumps – Number and Their Horse Power	Available of adequate capacity

Sewage Disposal – Sewer Line or Septic Tanks (No. and Capacity)	Connected to TMC sewerage line

Roads and Paving Within the compound, approximate area and type of paving	Concrete

Is the construction/ built up property is an per the plan approved by the competent	As per Approved plan, Occupation Certificate from Competent Authority Verified

What is the floor space index permissible and percentage actually utilized?	1 : 1 entire FSI has been used

Estimated future life	Around 30 Years – if proper care and maintenance of RCC super structure

Is it freehold or leasehold land?	Not Applicable as property under consideration is flat

If leasehold, the name of lessor/ lessee, nature of lease, dates of commencement, and termination of lease and terms of renewal of lease i. Initial Premium ii. Ground rent payable per annum iii. Un earned increase payable to the lessor in the event of transfer iv. Are there any agreements of leasement?	Property is freehold

Is there is any restrictive convent in regard to use of land? If so details to be give	As per documents produced – there are no restrictive convent

Does the land fall in an area included in any town Planning Plan of Government or any statutory body: If so give particulars	Not Known

Has any contribution been made towards development or is any demand for such contribution still outstanding?	Not Known

Has the whole or part of the land been notified for acquisition by Government or any statutory body? Give the notification	As per available information – No

Is the building owner occupied / tenanted/ both	Flat is occupied by owner

If partly owner occupied specify portion and extent of area of area under owner occupation	Flat is occupied by owner

a. Name of tenant/ lessees/ licensees, etc. b. Portion in their occupation c. Monthly or annual rent / Compensation / license fees etc. Paid by each d. Gross amount received for whole property e. Are any of the occupants related to or close business associates of owner?	Not Applicable

Is the building insured? If so give the policy no. amount for which it is insured and annual premium	Not known as paper not available

Has any standard rent been fixed for the premises under any law relating to the control of rent?	Not applicable

Is there any dispute between land lord and tenant regarding rent pending in court of law	Not Applicable – as property is in possession of owner and there is no tenant

Whether possession of the property can be taken by the bank in case of need without any litigation (Society rules, independent entrance, co-owners share/ joint ownership, etc.)	In normal case Yes

The valuer should give in detail his approach to valuation of the property and indicate how the value has been arrived at, supported by necessary calculations (Rent capitalization method, municipal valuation for tax purpose, composite rate method for flat, etc.)	They have referred to stamp duty rates, inquiries with estate dealers, responses from advertisers on enquiry

a. Land rate adopted in the valuation	Market rates for flats in this area are between Rs. 13,000 to Rs. 15,000/sft. Built up depending upon location and condition rate adopted Rs. 14,000/Sft. – built up

b. Instances of sales of IPs in the locality indicating the name and address of the IPs, registration no., sale prices and area of land sold	Not Enclosed

c. If sales instances are not available or not relied upon, the basis of arriving at the land rate	Local Enquiry

Guideline value/ value of IP as per Circle rates, if any applicable in the area where IP is situated	Stamp duty rate: Rs. 7,680/ Sft. Built up Rs. 82,700/ Sq. Mtr.

Market value of the property	962 Sft. Built up @ Rs. 14,000/ Sft. Built up i.e. Rs. 13.470 Millions

Realizable Value of the Property	Around Rs. 12.800 Millions

Distress Sale Value of the Property	Around Rs. 12.100 Millions (As bank normally does distress sale and bank auctions are cornered and distress value is around 90% price of fair market price)

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VALUATION REPORT

GENERAL DETAILS

Date of Visit of the Site for Valuation of IP	02.07.2014

Date of Making Valuation	04.07.2014

Name of Owner(s) of the property	Mr. Rajesh Nathalal Barot
i) Date of Purchase of IP	04.04.2010
ii) Purchase Price of IP	Rs. 3.800 Millions as on 06.04.2010

Documents	Photocopy of sale agreement dated 06-04-2010 between Mrs. Balvindar Kaur Gulati and Mrs. Usha Rajesh Barot

Whether necessary enquires have been made from the concerned locality with regard to the ownership of the property	Yes

If the property is under joint ownership/ co-ownership, share of each owner. Are the shares undivided?	It is a single ownership

Brief Description of Property	Flat No. 302, ‘A’ – Wing, Car Parking Space No. 31 in “Sita Vihar CHS Limited” near Damani Estate, above Shamrao Vitthal Bank, L.B.S. Marg, Naupada in Thane (West). CTS No. 15, 47, 48, 49, 50 Tika No. 18 Soc. Reg. No.: TNA / (TNA) / HSG / (TC) / 10587 / dated 08-09-1999

Location, Street and Ward No.	Near Damani Estate, on L.B.S. Marg, Naupada in Thane (West) Shamrao Vitthal Bank is situated in same building

Survey/ Plot No. of Land	Tika no. 18, C.T.S. No. 15, 47 to 50, village Naupada

Is the IP bears the same description/ details as mentioned in the documents/ title deeds	Yes

Is the property situated in residential/ mixed area/ industrial area	Residential locality

Is the property situated in an unauthorized/ authorized colony	Yes, it is authorized colony O.C. No. V.P. 84161 B dated 30.10.1991

Classification of locality high class/ middle class/ poor class	Middle Class Residential Locality

Is the IP in question or any part of it is under encroachment	No

Proximity to civic amenities like schools, hospitals, offices, market, cinema halls, etc.	Within Walking Distance

Means and Proximity to surface communication by which locality is served	By Auto and TMT Buses

Area supported by documentary proof, shape, dimensions and physical features	69.00 Sq. Mtr. carpet plus 7 Sq. Mtr parking space Say 742 Sft. Carpet or say 891 Sft. Built up or 965 Sft. Super built up

Roads, streets or lanes on which the land is abutting, surrounded	Near Damani Estate, Above Shamrao Vitthal Bank, L.B.S. Marg, Nuapada in Thane (West)

Furnish details of the building on a separate sheet given

i) Number of floors and height of each floor	Ground plus eight upper floors

ii) Plinth area floor-wise	Construction is as per sanctioned plan

iii) Year of Commencement of construction and year of completion	In the year 1988-89 and completed in the year 1991 there abouts

What was the method of construction – by contract/ by employing labour Directly/ Both	Details not available

Type of construction/ finishing –	RCC super structure

i) Load bearing walls/ RCC Frame/ Steel Frame	RCC Frame

ii) Type of foundations	RCC Plinth Beams

iii) Walls (floor-wise)	Brickwork Walls

iv) Partitions	Brickwork Walls

v) Doors, Windows, etc. (Floor-Wise)	Wooden Door

vi) Flooring (Floor-wise)	Marble Tiles

vii) Finishing (Floor-wise)	Marble Tiles

viii) Roofing and Terracing	RCC Slabs

ix) Special Architectural or Decorative Features, if any	It is a Tow bedroom, hall, kitchen flat with balcony with marble flooring, false ceiling with spot light, wardrobes, decorative furniture works, etc. and it is fully furnished flat. Flat No. 301 and 302 are internally connected to each other and make spacious flat

x) External Wiring – Surface of Conduit	Concealed – Single Phase

xi) Class of Fittings – Superior/ Ordinary Poor	Superior

xii) Sanitary Installation – Numbers/ Ordinary/ Poor	Common for all

Compound Wall	It is around the building
a. Height and Length	Around 4ft. above
b. Type of Construction	UG rubble, AB brickwork

No. of Lifts and Capacity	Yes, Available – Two numbers

Underground Pump – Capacity and Type of Construction	Available of adequate capacity

Overhead Tank	Available of adequate capacity
- Where Located	On Terrace

Water Pumps – Number and Their Horse Power	Available of adequate capacity

Sewage Disposal – Sewer Line or Septic Tanks (No. and Capacity)	Connected to TMC sewerage line

Roads and Paving Within the compound, approximate area and type of paving	Concrete

Is the construction/ built up property is an per the plan approved by the competent	Construction is as per sanctioned plan

What is the floor space index permissible and percentage actually utilized?	1 : 1 entire FSI has been used

Estimated future life	Around 40 Years – if proper care and maintained of RCC super structure

Is it freehold or leasehold land?	Not Applicable as property under consideration is flat

If leasehold, the name of lessor/ lessee, nature of lease, dates of commencement, and termination of lease and terms of renewal of lease i. Initial Premium ii. Ground rent payable per annum iii. Un earned increase payable to the lessor in the event of transfer iv. Are there any agreements of leasement?	Property is freehold

Is there is any restrictive convent in regard to use of land? If so details to be give	As per documents produced – there are no restrictive convent

Does the land fall in an area included in any town Planning Plan of Government or any statutory body: If so give particulars	Not Known

Has any contribution been made towards development or is any demand for such contribution still outstanding?	Not Known

Has the whole or part of the land been notified for acquisition by Government or any statutory body? Give the notification	As per available information – No

Is the building owner occupied / tenanted/ both	Flat is occupied by owner

If partly owner occupied specify portion and extent of area of area under owner occupation	Flat is occupied by owner

a. Name of tenant/ lessees/ licensees, etc. b. Portion in their occupation c. Monthly or annual rent / Compensation / license fees etc. Paid by each d. Gross amount received for whole property e. Are any of the occupants related to or close business associates of owner?	Not Applicable

Is the building insured? If so give the policy no. amount for which it is insured and annual premium	Not known as papers not available

Has any standard rent been fixed for the premises under any law relating to the control of rent?	Not applicable

Is there any dispute between land lord and tenant regarding rent pending in court of law	Not Applicable – as property is in possession of owner and there is no tenant

Whether possession of the property can be taken by the bank in case of need without any litigation (Society rules, independent entrance, co-owners share/ joint ownership, etc.)	In normal case Yes

The valuer should give in detail his approach to valuation of the property and indicate how the value has been arrived at, supported by necessary calculations (Rent capitalization method, municipal valuation for tax purpose, composite rate method for flat, etc.)	They have referred to stamp duty rates, inquiries with estate dealers, responses from advertisers on enquiry

a. Land rate adopted in the valuation	Market rates for flats in this are between Rs. 13,000 to Rs. 14,000/Sft. Super built up depending upon location and condition. Rate adopted Rs. 14,000/Sft. – super built up

b. Instances of sales of IPs in the locality indicating the name and address of the IPs, registration no., sale prices and area of land sold	Not enclosed

c. If sales instances are not available or not relied upon, the basis of arriving at the land rate	Local enquiry

Guideline value/ value of IP as per Circle rates, if any applicable in the area where IP is situated	Rs. 97,700/Sq. Mtr. say Rs. 9,075/Sft. Built up

Market value of the property	965 Sft. Super built up @ Rs. 14,000/Sft. – Super built up – i.e. Rs. 13.510 Millions

Realizable Value of the Property	Around Rs. 12.835 Millions

Distress Sale Value of the Property	Around Rs. 12.159 Millions (As bank normally does distress sale and bank auctions are cornered and distress value is around 90% price of fair market price)

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CHANGE OF ADDRESS

The registered office of the company has been shifted from Satra Building, 1^st Floor, Lohar Ali, Station Road, Thane (West), Thane – 400601, Maharashtra, India to the present address w.e.f 01.02.2012.

FIXED ASSETS

Tangible Assets

· Furniture and Fixture

· Computer and Printer

· Air Conditioner

· Innova Car

· J.C.B.

· Machinery

· Mobile Phone

· Office Equipment

· Office Premises

· RMC Batching and Mixing Plant

· Tipper

· Site Cabin

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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 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.62.67
UK Pound	1	Rs.93.16
Euro	1	Rs.66.42

INFORMATION DETAILS

Information Gathered by :	HNA

Analysis Done by :	RAS

Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		31

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

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