MIRA INFORM REPORT

Report No. :	318273
Report Date :	13.05.2015

IDENTIFICATION DETAILS

Name :	SREE KIRAN ENTERPRISES
Registered Office :	No. 119/13, Ground Floor, 27th Cross, 7th Block, Jayanagar, Bangalore – 560082, Karnataka
Tel. No.:	91-80-22442832
Country :	India
Financials (as on) :	31.03.2014
Year of Establishment :	01.04.2000
Capital Investment :	Rs. 75.400 Million
PAN No.: [Permanent Account No.]	AARPP3716F
Legal Form :	Sole Proprietary Concern
Line of Business :	Providing Outdoor Catering Services, Event Management Halls, Hotels and Restaurants Services.
No. of Employees :	4 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established proprietary concern having satisfactory track record. It has decent profit margin and good liquidity position during year under review. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The concern can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term Bank facilities = BB-
Rating Explanation	Inadequate credit quality and high credit risk.
Date	April 22, 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. Hemanth C
Designation :	Key Executive
Contact No.:	91-9620938269
Date :	11.05.2015

LOCATIONS

Registered Office :	No. 119/13, Ground Floor, 27th Cross, 7th Block, Jayanagar, Bangalore – 560082, Karnataka, India
Tel. No.:	91-80-22442832/ 22442992/ 22445238/ 22445113
Mobile No.:	91-9620938269 [Hemanth C]
Fax No.:	Not Available
E-Mail :	hemanth.shegir@gmail.com
Location :	Owned

PROPRIETOR

Name :	Mrs. Padmavathi
Designation :	Partner
Address :	No. 421, 43^rd Cross, 8^th Block, Jayanagar, Bangalore – 560082, Karnataka, India
Date of Birth/Age :	21.06.1965
Qualification :	Under Graduate
Experience :	25 Years
PAN No.:	AARPP3716F
Voter ID :	FSY0959213

KEY EXECUTIVES

Name :	Mr. Hemanth C
Designation :	Key Executive

BUSINESS DETAILS

Line of Business :	Providing Outdoor Catering Services, Event Management Halls, Hotels and Restaurants Services.
Brand Names :	--
Agencies Held :	--
Exports :	--
Imports :	--
Terms :
Selling :	Credit [30 Days]
Purchasing :	Credit [30 Days]

GENERAL INFORMATION

Suppliers :

Reference:	--
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

Customers :

End Users

Reference:	--
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

No. of Employees :

4 (Approximately)

Bankers :

Bank Name:	Canara Bank
Branch:	Yediur, Bangalore – 560082, Karnataka, India
Person Name (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	CC = Rs. 5.000 Million
Account Operation:	Not Divulged
Remarks: Not Divulged

· Dena Bank

· ICICI Bank Limited

Facilities :

CC = Rs. 5.000 Million

Auditors :
Name :	M. Venkatachalam and Associates Chartered Accountants
Address :	No. 752, 1^st Floor, 7^th Cross, 14^th Main, Opposite ICICI Bank, BTM 2^nd Stage, Bangalore – 560076, Karnataka, India
Telefax :	91-80-42093916
Mobile No.:	91-9341262858
E-Mail :	mvca56@rediffmail.com mvca57@rediffmail.com
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	· N. Chandershekar and Sons Address: No. 18/3, Ragavendra Complex, 27^th Cross, 6^th Block, Jayanagar, Bangalore – 560082, Karnataka, India Activity: Outdoor Catering and Event Manager Halls

CAPITAL STRUCTURE

CAPITAL ACCOUNT AS ON 31.03.2014

(RS. IN MILLION)

PARTICULARS	AMOUNT	PARTICULARS	AMOUNT
To Drawings Account	0.925	By Opening Capital b/d	70.799
To Advance Income Tax	2.500
To TDS Received	0.676	By Dividend received	3.310
To Income Tax paid	3.995
To Interest on Housing Loan	0.176
To Interest on BOB Loan	1.383	Net Income	16.000
To Interest on Bajaj Loan	5.054
	14.709
Closing Capital	75.400
Total	90.109	Total	90.109

FINANCIAL DATA

[all figures are in Rupees Million]

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

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2014	31.03.2013	31.03.2012
SHAREHOLDERS FUNDS
1] Proprietor Capital		75.400	70.799	56.316
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		75.400	70.799	56.316
LOAN FUNDS
1] Secured Loans		70.244	30.909	47.805
2] Unsecured Loans		8.532	13.701	1.582
TOTAL BORROWING		78.776	44.610	49.387
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		154.176	115.409	105.703
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		106.097	106.179	109.953
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		16.012	1.012	0.012
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.795	0.140	0.135
	Sundry Debtors	4.256	6.132	5.161
	Cash & Bank Balances	35.381	0.880	0.384
	Other Current Assets	2.952	2.362	2.198
	Loans & Advances	0.399	10.489	1.200
Total Current Assets		43.783	20.003	9.078
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	8.761	6.784	8.218
	Other Current Liabilities	2.955	5.001	5.122
	Provisions	0.000	0.000	0.000
Total Current Liabilities		11.716	11.785	13.340
Net Current Assets		32.067	8.218	(4.262)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		154.176	115.409	105.703

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Receipt from Catering	12.388	16.718	15.537
		Other Income	19.067	18.027	14.197
		TOTAL	31.455	34.745	29.734
Less	EXPENSES
		Cooking Charges paid	1.225	0.776	0.705
		Drivers Salary	0.192	0.228	0.216
		Food Provisions Expenses	6.275	7.210	7.485
		Gas and Fuel Expenses	0.813	0.501	0.483
		Interest Paid	2.897	2.526	1.866
		Packing Materials	0.158	0.208	0.262
		Petrol and Diesel Expenses	1.070	1.054	1.133
		Rates and Taxes	0.968	0.110	1.041
		Rent Paid	0.225	0.300	0.378
		Staff Salary	0.204	0.252	0.252
		Other Expenses	0.702	2.361	0.455
		TOTAL	14.729	15.526	14.276
	PROFIT BEFORE DEPRECIATION AND AMORTISATION		16.726	19.219	15.458
Less/ Add	DEPRECIATION/ AMORTISATION		0.726	0.271	0.434
	NET PROFIT		16.000	18.948	15.024

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	129.16	113.34	96.70
Return on Total Assets (PBT/Total Assets}	(%)	10.68	15.02	12.62
Return on Investment (ROI) (PBT/Networth)		0.21	0.27	0.27
Debt Equity Ratio (Total Debt/Networth)		1.04	0.63	0.88
Current Ratio (Current Asset/Current Liability)		3.74	1.70	0.68

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particulars	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Proprietor Capital	56.316	70.799	75.400
Reserves & Surplus	0.000	0.000	0.000
Net worth	56.316	70.799	75.400
Secured Loans	47.805	30.909	70.244
Unsecured Loans	1.582	13.701	8.532
Total borrowings	49.387	44.610	78.776
Debt/Equity ratio	0.877	0.630	1.045

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	15.537	16.718	12.388
		7.601	-25.900

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	15.537	16.718	12.388
Profit	15.024	18.948	16.000
	96.70%	113.34%	129.16%

LOCAL AGENCY FURTHER INFORMATION

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

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

COMPUTATION OF TOTAL INCOME

(RS. IN MILLION)

PARTICULARS	2013-2014
INCOME FROM HOUSE PROPERTY
Property 1: No. 172/32
Gross annual value		0.496
Less: Municipal taxes		0.000
		------------
Net Annual Value		0.496
Less: Standard deduction u/s 24(a)	0.149
Interest on borrowed capital u/s 24(b)	0.176	0.325
		------------
Net Income from Property 1		0.171
Property 2: 294/10/2 Hotel Crystal Castle
Gross annual value		6.000
Less: Municipal taxes		1.432
		------------
Net Annual Value		4.568
Less: Standard deduction u/s 24(a)		1.370
		------------
Net Income from Property 2		3.198
Income chargeable under the head “House Property”			3.369
PROFIT AND GAINS OF BUSINESS OR PROFESSION
Business 1: Sree Kiran Enterprises
Net Profit before Tax as per Profit and Loss Account		4.970
Add: Inadmissible expenses and income not included
Depreciation debited to Profit and Loss Account		0.726
		------------
		5.696
Less: Deductible expenditure and income to be excluded
Incomes considered separately		0.670
		------------
Adjusted Profit from Business 1		5.026
Business 2: Pleasant Stay Inn and Samkruthi Banquet Hall
Net Profit before Tax as per Profit and Loss Account		9.037
Add: Inadmissible expenses and income not included
Depreciation debited to Profit and Loss Account		0.223
		------------
Adjusted Profit from Business 2		9.260
Business 3: Sree Soundarya Mahal
Net Profit before Tax as per Profit and Loss Account		1.992
Add: Inadmissible expenses and income not included
Depreciation debited to Profit and Loss Account	1.388
Other additions	1.432	2.820
		------------
		4.812
Less: Deductible expenditure and income to be excluded
Incomes considered separately		6.000
		------------
Adjusted Profit from Business 3		(1.188)
Total Income from Business and Profession		13.098
Less: Depreciation as per IT Act		2.337
		------------
Income chargeable under the head “Business and Profession”			10.761
INCOME FROM OTHER SOURCES
Interest Income		0.174
Income chargeable under the head “Other Sources”			0.174
			------------
Gross Total Income			14.304
Deductions under chapter VI-A Investment u/s 80C, CCC, CCD
Housing loan repayment	0.105
Total Investment subject to ceiling u/s 80CCE			0.100
			------------
TOTAL INCOME			14.204
Tax on Total Income			4.091
Add: Surcharge			0.409
			------------
Tax with Surcharge			4.500
Add: Education cess			0.135
			------------
Tax with Surcharge and cess			4.635
Net Tax			4.635
TDS		0.676
Advance Tax		2.500	3.176
			------------
Balance Tax			1.459
Interest u/s 234A		0.015
Interest u/s 234B		0.102
Interest u/s 234C		0.076	0.193
			------------
Net tax payable			1.652
Self assessment tax paid			1.652
			------------
BALANCE TAX PAYABLE			0.000

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

PLEASANT STAY INN AND SAMSKRUTHI BANQUET HALL UNIT OF SREE KIRAN ENTERPRISES [PROP. MRS. PADMAVATHI]

INCOME & EXPENDITURE ACCOUNT

(RS. IN MILLION)

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	12.851	13.788	13.104
		Other Income	0.000	0.000	0.000
		TOTAL	12.851	13.788	13.104
Less	EXPENSES
		Corporation Tax paid	0.223	0.000	0.000
		Discount on Room rent	0.609	0.481	0.514
		Electricity Charges	1.063	0.977	0.850
		Garbage Cleaning Charges	0.120	0.110	0.086
		Repairs and Service Maintenance	0.240	0.059	0.043
		Staff Salary	0.237	0.462	0.471
		Wages and Coolie paid	0.516	0.171	0.181
		Watchman Salary	0.153	0.074	0.133
		Other Expenses	0.429	0.452	1.086
		TOTAL	3.590	2.786	3.364
	PROFIT BEFORE DEPRECIATION AND AMORTISATION		9.261	11.002	9.740
Less/ Add	DEPRECIATION/ AMORTISATION		0.223	0.844	0.304
	NET PROFIT		9.038	10.158	9.436

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

SREE SOUNDRYA MAHAL UNIT OF SREE KIRAN ENTERPRISES [PROP. MRS. PADMAVATHI]

INCOME & EXPENDITURE ACCOUNT

(RS. IN MILLION)

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	8.365	11.024	5.065
		Other Income	0.000	0.000	0.000
		TOTAL	8.365	11.024	5.065
Less	EXPENSES
		Accounting Charges	0.036	0.036	0.000
		Corporate tax paid	1.432	0.639	0.000
		Interest on ST-SSm	0.029	4.624	0.000
		Laundry Expenses	0.010	0.000	0.000
		Power Charges	2.720	0.000	0.000
		Printing and Stationery	0.008	0.000	0.000
		Professional Tax paid	0.003	0.003	0.000
		Repairs and Maintenance	0.004	0.000	0.000
		Service Tax paid	0.588	0.959	0.396
		Watchman Salary	0.155	0.222	0.309
		Other Expenses	0.000	3.083	0.285
		TOTAL	4.985	9.566	0.990
	PROFIT BEFORE DEPRECIATION AND AMORTISATION		3.380	1.458	4.075
Less/ Add	DEPRECIATION/ AMORTISATION		1.388	5.377	1.636
	NET PROFIT		1.992	(3.919)	2.439

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

NETWORTH STATEMENT

MRS. PADMAVATHI

(RS. IN MILLION)

[AS ON 04.03.2015]

BANK DETAILS

Bank	Branch	SB / CD Account No.
Canara Bank	Yediyur	OD 285-007

DETAILS OF ASSETS

IMMOVABLE PROPERTY

Nature of Property	Location with Complete Address	Percentage of Share	Market Value (Rs. In Million)
Agricultural Land	Land at Talaghtpur - 2	100%	10.000
Urban Land and Building	Located at No. 165, 24^th Cross Yediyur Jayanagar, VI Block, Bangalore	100%	37.200
Urban Land and Building	Located at No. 421, 8^th Block, Jayanagar, Bangalore	100%	75.000
Urban Land	Site No. 147 and 148 at Vasavi Enclave, Bangalore	100%	2.500
Urban Land	Site No. 367, Sarjapura Road, Bangalore	100%	2.500
Urban Land and Building	No. 171/32, 27^th Cross, 6^th Block, Jayanagar, Bangalore	100%	20.000
Urban Land and Building	No. 175/13, 5^th Block, Jayanagar, Bangalore	100%	150.000
Urban Land and Building	10/2, JP Nagar, Bangalore	100%	300.000
Urban Land	White field Road 45000 Sq. ft. (recently purchased)	100%	172.700
	Total		769.900

TOTAL VALUE OF OTHER ASSETS

Nature of Asset	Particulars of Asset / Complete Description	Market Value
Gold and Other Jewellery	Golden ornaments and other jewellery items	2.000
Value of Investments in Business [Shree Kiran Enterprises – excluding value of land jewellery and secured loan stated separately]	Investment in Sree Kiran Enterprises - excluding value of land jewellery and secured loan stated separately	51.200
Total		53.200

LEGAL HEIRS

Name	Occupation	Relation	Age	Marital Status	Address
Chandrashekar	Business	Husband	56	Married	No. 421, 43^rd Cross, 8^th Block, Jayanagar, Bangalore
Kiran C.	Doctor	Son	26	Married
Hemanth C.	Business	Son	24	Unmarried

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

PROJECT REPORT

INTRODUCTION-COMMERCIAL OPPORTUNITY

Convention Centers are most demanded for Corporate, Commercial, Social and Cultural events in a society. It is an important component of society that permits congregation of large number: of people for an occasion, function and celebration as well as performing rituals for the welfare of the society, community and people at large.

Bangalore city offers a commercial opportunity for establishing convention center as a business both in terms of commercial and technical feasibility and financial viability. One of the major reason for such commercial feasibility is the high per capita income and higher standards of living. A generally perceived higher standards of living and a reasonably good cash flow in hand, with status of social position always on mind, organizing events have become a part of life in this city. These events are generally luxurious and demanding in terms of facility in tune with status. This coupled with an ever increasing urbanization and sophistication has spiraled the demand for convention centers. Major requirements of a convention center is availability of space in a location that is convenient to facilitate corporate, commercial and social gatherings. The space should be have adequate landscaping, great interiors, parking for vehicles, water supply, captive electricity production and sewerage treatment facilities.

Whitefield in Bangalore city is one of the fast developing and opulent areas of the metropolitan, and houses some of the finest residential, industrial, commercial centers (export processing zone) and a bulk of the rich IT industry, International Technology Parks are located here. The zone houses the Doddanekkundi Industrial Area, Baghmane Tech Par (Singapore International Technology park, several educational institutions, engineering, and medical colleges. It also houses International Exhibition center. On the whole, it is the most happening place in Bangalore as on date. The standard of living here is very high and the zone generates very high per capita income within the city. It also provides a upscale landscape in terms of residential complexes, industrial complexes and a huge Information Technology industrial park.

Thus the scope is immense and currently short of supply for undertaking event management for business conferences, weddings, conferences and other social events. Such events require total management of space, comforts, catering, with facilities for projection, video displays, telecommunication and internet facilities as well as good ambiance. The present project is for establishing a Convention centre that facilitates organizing event management with all possible comforts to the industry, enterprises, establishments and residential sector.

It be concluded that the proposal for establishing a convention center and undertake event management as a business is a feasible commercial opportunity in Whitefield Bangalore

PROMOTERS

Sree Kiran Enterprises is proprietorship firm of Mrs. Padmavathi, W/A Mr. N Chandrashekhar. She intends to establish a convention center in a space of 1.05 lakh sq. ft area which she proposes to acquire at Plot No. 4A and 48, Whitefield Main Road, Opposite Graphite India Limited, Bangalore and is within the BBMP jurisdiction.

Experience: Mrs. Padmavathi and her husband Mr. N Chandrashekhar started their career as a caterer way back during 197A's. They have grown gradually in their line of business and developed their own brand of serving wholesome and delicious food, on all major occasions. All the internal accruals in their business are accumulated into a corpus and promoted their own chain of hotels high end Restaurants, Convention centers etc., Thus they have emerged themselves as entrepreneurs par excellence in the hospitality industry. As mentioned elsewhere their reputation in this line of activity is wide spread all over Karnataka. The important clients which are given services are as follows:

1) lnfosys group, Bangalore

2) Oxford Group of Institutions

3) CMR group of Institutions

4) Institute of Chartered Accountants of India for their international conferences

5) Canara Bank, Bangalore

6) Subramanyapura Co-op Bank, Bangalore

7) Bharath Co-op Bank, Bangalore

8) State Bank of Mysore, Bangalore

9) Suguna Hospital, Bangalore

10) Cosmopolitan Club, Bangalore

11) British Biologicals, Bangalore

12) PES college of Engineering, Bangalore

13) Reva Institute of Engineering, Bangalore

14) M S Rramaiah group of Institutions, Bangalore

15) T John group of Institutions, Bangalore

All the above are prestigious institutions in Bangalore and there are many more clients in the list.

Leadership Skills: As proprietress, Mrs. Padmavathi has enough experience of over 4 decades in organizing events, providing quality food and hospitality to larger crowds in public places. Organising such events over 4 decades has brought in leadership skills by managing human resources and financial matters as well as other resources. Experience in handling large volumes of food material through a team of loyal workers shows the leadership skills adequately.

Financial strength: Mrs. Padmavathi has been able to save enough capital to take up a new venture establish a new convention center at the hub of IT industry namely Whitefield. Her networth estimated at Rs. 658.100 Million as on 4th March 2015.

Guidance and support: she will be ably guided by her husband Mr. N Chandrashekhar, who has been with her all along the 4 decades of her experience. He will also be overseeing the execution of the project and thereafter in marketing and business operations of the unit alongside Mrs. Padmavathi. Networth of Mr. N Chandrashekhar is estimated at Rs. 257.000 Million.

Summary: Mrs Padmavathi excels in project execution. Good internal control for quality management crores and financial management has been crucial in success of her business so far with these strengths she has the ability to undertake and execute the newly proposed activity of establishing a convention center with event management very efficiently.

SWOT ANALYSIS

STRENGTH:

1) The Promoter of the Project is well experienced person, She is in this line of business for more than four decades and while she has seen the ups and downs of the business.

2) The location is in prime residential, industrial and commercial area

3) Customer base especially HNI in personal segments and good corporate from corporate circle is already in existence which is a big strength.

4) Variety of events that can be organized is huge covering all segments of population in the area.

WEAKNESS:

This is a labor oriented industry. In ability to get experienced laborers is the weakness. However as the promoter is in this line for more than two decades and as they are aware of alternative sources, this can be overcome. Of late the human resource availability tin hospitality industry is quite high and the promoter can create a loyal environment with a good HR policy.

OPPORTUNTY:

1) Existing customer base and Goodwill in the market is a big opportunity.

2) In a metropolitan city like Bangalore, parking space is a major constraint. Since the location is spacious with more than 2 acres, huge space is available for parking, which is a major opportunity.

THREAT:

The number of such activity in the area is at this moment quite low with only one such unit in the vicinity. They do not match the proposed magnitude as well experience of the promoter. However competition in future cannot be ruled out. In-house catering management gives distinct advantage over competitors.

CERTIFICATE OF COST

Project: Multipurpose Convention Hall Building for Mrs. Padmavathi at Plot No. 4A and 4B, Whitefield Main Road, Opposite Graphite India Limited, Bangalore.

A. TOTAL BUILT UP AREA:

1.	Ground Floor	2300.00
2.	First Floor	2380.00
3.	Mezzanine Floor	1140.00
	Total built up area in Sq. Mt.	5820.00

B. COSTING

Specifications:

Structure: Framed structure with solid block masonry with tiles over RCC slab

Plastering: Neeru Plaster inside with emulsion paint and Rough plaster out side with Apex paint.

Doors/Windows: Sal wood frames with flush/ glazed shutters with paint/ polish

Flooring: Ceramic Tiles, Marble in common areas

Toilets: Ceramic flooring, Glazed tile dado

1. CIVIL WORKS COSTING

NO.	ITEMS	COST
1	Masonry and Concrete works	54.000
2	Flooring works	8.500
3	Painting works	7.000
4	Wood works	5.500
5	Fabrication works	6.500
	Total Structure Cost	81.500

2. ELECTRICAL WORKS COSTING

Specifications:

1) Current Transformers, Voltage Transformers – KALPA / AE

2) Relay and control Panels, LV Boards, Mccs – Balaji Powergear

3) Fuses and Fuse Bases, Switch fuse and fuse Switch Units, Selector Switches and Rotary Switches, IC Main Switches – EE / L&T

4) Miniature Circuit Breakers, Residual Current Circuit, MCB Distribution Boards, Industrial Sockets – MDS

5) PVC insulated copper wires – FINOLEX

6) Lighting and Power Control Switches, Receptacles – ANCHOR ROMA / MK

7) Change over Switches – L&T / C&S

8) MS Conduits – SUPREME / BHARAT

9) PVC Rigid Conduits – VIP

10) HT and LT Cables (Power and Control) – POLYCAB / CCI

NO.	ITEMS	COST
1	Panels and Distribution boards	2.025
2	Cable and Cable end termination	1.100
3	Sub mains circuit mains / Power wiring	2.550
4	Light other Fixtures	1.050
5	Telephone / TV System and Earthing system	0.575
	Total Electrical Works Cost	7.300

3. PLUMBING AND SANITARY WORKS

Specifications:

1) Sanitary Fixtures and Fittings – Hindware / Parry were / Cera

2) CPVC Pipes and Fittings – Ashirwad / Supreme

3) PVC Pipes and Fittings - Ashirwad / Supreme

4) Plumbing fittings – Jaguar / Cera

NO.	ITEMS	COST
1	Sanitary Fixtures and Fittings	2.075
2	CPVC Pipes and Fittings	0.625
3	Soil, waste and Vent pipes and external drainage	0.500
4	Rain water pipes and fittings	0.200
	Total Plumbing and Sanitary Works Cost	3.400

4. AIR-CONDITIONING

Specifications:

Equipments – LG, Samsung

NO.	ITEMS	COST
1	Equipments	3.550
2	Copper piping	1.550
3	Air Distribution	1.850
4	Insulation	0.850
	Total Air-Conditioning Works Cost	7.800

5. LIFTS – 8 PASSENGERS – 2 NOS

Specifications:

Passenger Lifts – Kone Make

Car – Stainless steel and Glass

Door – Automatic Doors

NO.	ITEMS	COST
1	Lifts – 8 Passengers – 2 Nos	1.500

6. CENTRALIZED KITCHEN

NO.	ITEMS	COST
1	Kitchen Equipments and Installation	7.500

7. LANDSCAPING AND GARDENING

NO.	ITEMS	COST
1	Landscaping and Gardening	2.500

GRAND TOTAL COST [ITEMS 1 TO 7]

RS. 111.500 MILLION

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

COMMERCIAL PROPERTY VALUATION REPORT

(GENERAL DETAILS)

Name of the owner / Purchaser

Mrs. Padmavathi

w/o Mr. N. Chandrashekhar

Date of Inspection and Valuation

25.03.2015

Purpose of valuation

To avail loan

Brief description of the property under valuation

Commercial

DESCRIPTION OF PROPERTY

Postal address of the property

Plot No. 4A and Plot No. 4B, Sy. No. 73, Next to Keys Hotel Doddanekkundi Village, KR Puram Hobli, Opposite Graphite India, Bangalore East Taluk Bangalore – 560048

Survey No. details

Plot No. / Nagar

S.F. No. / T.S. No./ R.S. No.

Village / Block

Taluk / Ward

District / Municipality / Corporation

Doddanekkundi

BBMP Limits

Out of the Total Area 105649 Sq. ft., 45000 Sq. ft. of land belongs to SMT Padmavathi Present Market Value Rs. 225.000 Million

Plot No. 4A and 4B

East	Plot bearing No. 4C
West	Road
North	Remaining Portion of Plot bearing No. 4A and 4B
South	Plot No. 6

Plot No. 4B Area 61893 Sq. ft. of A.A. Holdings and Apex Holdings and Investments

Boundaries of the property	As per title deed	Actual
East	Plot No. 4C	Plot No. 4C
West	Road	Road
North	Plot No. 4A	Plot No. 4A
South	Plot No. 4B	--

Plot No. 4A Area 43756 Sq. ft. of A.A. Holdings and Apex Holdings and Investments

Boundaries of the property	As per title deed	Actual
East	KIADB Land	KIADB Land
West	Main Road	Main Road
North	40’Road	40’Road
South	Plot No. 6	Plot No. 6

Procedure of Valuation

Remaining Land Area 60649 sq. ft

PART A

Extent of site [least of 1a and 1b]

Remaining Site Area as per Sketch 58924 Sq. ft. Corner Plot

Hence least of the two is considered

60649 Sq. ft.

Characteristics of site

Character of locality

Residential

Classification

Middle Class

Development of surrounding

Developed

Is the locality subjected to frequent flooding

No

Feasibility to the civic amenities like School, Hospitals, Offices, Markets etc. [Nearby/ Moderate distance/ Far away]

Near by

Level of land with topographical conditions

Normal

Shape of land

Rectangular

Type of use to which can be put

Commercial

Whether leasehold/ freehold

NA

Is it in town planning approved layout

Is it corner plot

No

Road facilities

Available

Water potentiality

Available

Underground sewerage system

Available

Commercial potentially of the property

Good

Any other sentimental / social issue which may effect the value

No

Prevailing unit market rate

Rs. 4500/- Sq. ft. for Corner

Unit rate / Sub registrar

Rs. 3960/- Sq. ft.

Value of the site

58924 x 4500

Rs. 265.158 Million

Mrs. Padmavathi Property

45000 Sq. ft.

Market Value Rs. 4000/- Sq. ft.

Guideline Value Rs. 3600/- Sq. ft.

Market Value Rs. 180.000 Million

Building Value is not considered, Since sanctioned plan copy not made available @ the time of inspection.

Total Value

58924 x 4500 = Rs. 265.158 Million + 45000 x 4000 = Rs. 180.000 Million

Rs. 445.158 Million

Guideline Value

= 58924 x 3960/- Sq. ft. + 45000 x 3600

= Rs. 233.339 Million + Rs. 162.000 Million

= Rs. 395.339 Million

PART F – ABSTRACT VALUE

PART	DESCRIPTION	VALUE BY ADOPTING GLR	PMR
Factor favoring for an additional value add factors favoring for less value less	--	395.339	445.158
Present market value of Commercial Property			Rs. 445.158 Million

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

VALUATION REPORT

(GENERAL DETAILS)

Purpose for which valuation is made

For Security Purpose

Date as on which valuation is made

19.03.2015

Name of the Owner / Owners

MR. N. CHANDRASHEKAR

If the property is under joint Ownership / Co-ownership, share of each such owner. Are the shares undivided?

Single – Ownership

Is it a freehold or leasehold

Freehold

Property address

No. 37/2, 16^th Cross, Elephant Rock Road, III Block, Jayanagar Extension, Bangalore – 560011

Phone: 91-80-26540451/ 26540452

Brief description of the property

The property is a convention Hall known as Samskruthi Convention Hall having a built up area of 7200.00 Sq. ft. The Owner has not obtained a sanction plan form competent authority therefore building value has not been considered for valuation.

Location, Street, Ward No.

A well developed middle class commercial / residential locality where all modern civic amenities are available at a distance of 1-2 kms from the site. Southend Circle is situated at a distance of about 50 meters from the site.

Is the property situated in residential / commercial / mixed area / industrial area?

Commercial / residential

Classification of locality – high class/ middle class/ poor class

Middle class

Proximity to civic amenities like schools, hospitals, offices, markets, cinema etc.

Moderate distance

Means and proximity to surface communication by the locality is served

Buses, Autos Taxis etc.

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

Boundaries of the property

East by	Play ground and Site No. 38
West by	Site No. 36
North by	Site No. 33
South by	16^th Cross Road

Dimension of site

East to West	80’-0”
North to South	120’-0”

Area of site

9600.00 Sq. ft.

Furnish technical details of the building on a separate sheet

Not Applicable

Is the building owner occupied / tenanted / both?

Not Applicable

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

Not Applicable

Approximate distance from the branch to the property

7 to 8 kms from Bank of India, Mid Corporate Branch, Bangalore

Documents verified

Copy of Sale Deed registered as document no. 4959/2006-2007 obtained from the office of the Sub-Registrar, Jayanagar, Bangalore

CHARACTERISTICS OF THE SITE

Character of locality

Commercial / Residential

Classification

Middle Class

Development of the surrounding areas

Fully developed

Is the locality subject to frequent flooding

No

Feasibility to the civic amenities like school, hospitals, offices, market etc.

Moderate distance

Level of land with topographical conditions

Normal

Corner plot or intermittent plot

No

Shape of land

Rectangular

Type of use to which it can be put

Commercial / Residential

Road facilities

Asphalted road is made available

Electricity connections

Made available

Water Potentially

Made available

Underground sewerage system

Made available

VALUATION

Method adopted to estimate the value

Unit rate method

Value obtained from the Sub-Registrar Office

Rs. 11760/- Sq. ft.

Market rate prevailing in the locality for a similar land with similar characteristics

Rs. 17750/- Sq. ft. to Rs. 18250/- Sq. ft.

Adopted unit rate of the subject land after giving due weightages to the individual merits and demerits of the case

Rs. 18000/- Sq. ft.

As per Market Value LAND VALUE
80’-0” x 120’-0”
= 9600.00 Sq. ft. @ Rs. 18000/-	Rs. 172.800 Million
Total	Rs. 172.800 Million

As per Sub-Registrar’s Value LAND VALUE
80’-0” x 120’-0”
= 9600.00 Sq. ft. @ Rs. 11760/-	Rs. 112.896 Million
Total	Rs. 112.896 Million
Rounded to	Rs. 112.900 Million

In case there is a Distress Sale the value of the property will be Rs. 138.200 Million.

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

VALUATION REPORT

(GENERAL DETAILS)

Purpose for which valuation is made

For Security Purpose

Date as on which valuation is made

19.03.2015

Name of the Owner / Owners

A.A. Holdings

Apex Holding and Investments

Mrs. Padmavathi

If the property is under joint Ownership / Co-ownership, share of each such owner. Are the shares undivided?

Joint – Ownership

Property address

Plot No. 4-A and 4-B, I Phase, Industrial Area, Doddanekundi, EPIP Area, White filed, Bangalore – 560048

Brief description of the property

The property consists of two industrial sheds and it has not been considered for valuation.

Location, Street, Ward No.

A developed industrial locality where all modern civic amenities are available at a distance of 1-2 Kms from the site. The property is situated opposite to Graphite India and next to Keys Hotel.

Disclosure

The subject properties i.e. Plot No. 4A and 4B consist of total area of site 105609.00 Sq. ft. out of which already 45000.00 Sq. ft. of land has been purchased by Mrs. Padmavathi. The remaining area of site i.e. 60609.00 Sq. ft. belongs to A.A. Holdings and Apex Holding and Investments

Mrs. Padmavathi is intending to purchase the remaining portion of the property bounded

East by	Private property
West by	Road
North by	Road
South by	Remaining portion of the property 4-A and 4-B purchased by Mrs. Padmavathi

A Survey sketch was made available to them and the area of site as per survey sketch is showing 58924.00 Sq. ft. instead of 60609.00 Sq. ft., for valuation purpose the area of site considered is 58924.00 Sq. ft and 45000.00 Sq. ft.

The property consists of two industrial sheds and it has not been considered for valuation.

Is the property situated in residential / commercial / mixed area / industrial area?

Industrial

Classification of locality – high class/ middle class/ poor class

Middle class

Proximity to civic amenities like schools, hospitals, offices, markets, cinema etc.

Moderate distance

Means and proximity to surface communication by the locality is served

Buses, Autos Taxis etc.

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

--

Item 1:

Plot No. 4-B, I Phase, Industrial Area, Doddanekundi, EPIP Area, White field, Bangalore - 560048

Boundaries of the property

East by	Plot bearing No. 4-C
West by	Road
North by	Plot bearing No. 4-A
South by	Plot bearing No. 6

Area of site

5750.00 Sq. Mt.

Documents verified

Copy of Sale deed registered as document no. 32549/2006-2007 obtained from the office of Sub-Registrar, K.R. Puram, Bangalore

Item 2:

Plot No. 4-A, I Phase, Industrial Area, Doddanekundi, EPIP Area, White field, Bangalore - 560048

Boundaries of the property

East by	KIADB Board land, measuring on that side 122’-0”
West by	Main road, measuring on that side 122’-0”
North by	40’-0” Road measuring on that side 352’-0”
South by	Property bearing No. 4-B, measuring on that side 372’-0”

Area of site

8692.00 Sq. ft.

Documents verified

Copy of Sale deed registered as document No. 431/2007-2008 obtained from the office of the Sub-Registrar, Mahadevapura, Bangalore

Item 2:

Property belonging to Mrs. Padmavathi bearing Plot No. 4-B and 4-A, I Phase, Industrial Area, Doddanekundi, EPIP Area, White Field, Bangalore - 560048

Boundaries of the property

East by	Plot bearing No. 4C
West by	Road
North by	Remaining portion of plot bearing No. 4-A and 4-B
South by	Plot bearing No. 4-A and 4-B

Dimension of site

East to West
Northern side	379’-01”
Southern side	401’-0”
North to South
Eastern side	116’-5”
Western side	115’-11”

Area of site

45000.00 Sq. ft.

Documents verified

Copy of Sale deed registered as document No. 3975/2014-2015 obtained from the office of the Sub-Registrar, Shivajinagar, Bangalore

Total area of site

103924.00 Sq. ft.

Furnish technical details of the building on a separate sheet

Not Applicable

Is the building owner occupied / tenanted / both?

Vacant

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

Not Applicable

Approximate distance from the branch to the property

19 to 20 kms from Bank of India, Mid Corporate Branch, Bangalore

CHARACTERISTICS OF THE SITE

Character of locality

Industrial

Classification

Middle Class

Development of the surrounding areas

Fully developed

Is the locality subject to frequent flooding

No

Feasibility to the civic amenities like school, hospitals, offices, market etc.

Moderate distance

Level of land with topographical conditions

Normal

Corner plot or intermittent plot

Plot No. 4-B

Intermittent Plot

Plot No. 4-A

Corner Plot

Shape of land

Irregular

Type of use to which it can be put

Industrial

Road facilities

Asphalted road is made available

Electricity connections

Made available in the street

Water Potentially

Made available in the street

Underground sewerage system

Made available in the street

VALUATION

Method adopted to estimate the value

Unit rate method

Value obtained from the Sub-Registrar Office

Corner plot

Rs. 3960/- Sq. ft.

Intermittent plot

Rs. 3600/- Sq. ft.

Market rate prevailing in the locality for a similar land with similar characteristics

Rs. 3500/- Sq. ft. to Rs. 4500/- Sq. ft.

Adopted unit rate of the subject land after giving due weightages to the individual merits and demerits of the case

Corner plot

Rs. 4000/- Sq. ft.

Intermittent plot

Rs. 3600/- Sq. ft.

As per Market Value LAND VALUE
Corner Plot	58924.00 Sq. ft. @ Rs. 4000/-	Rs. 235.696 Million
Intermittent Plot	45000.00 sq. ft. @ Rs. 3600/-	Rs. 162.000 Million
Total		Rs. 397.696 Million
Rounded		Rs. 397.700 Million

As per Sub-Registrar’s Value LAND VALUE
Corner Plot	58924.00 Sq. ft. @ Rs. 3960/-	Rs. 233.333 Million
Intermittent Plot	45000.00 sq. ft. @ Rs. 3600/-	Rs. 162.000 Million
Total		Rs. 395.333 Million
Rounded		Rs. 395.400 Million

In case there is a Distress Sale the value of the property will be Rs. 318.200 Million.

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

TRADE REFERENCES

· Infosys

· Casmo Clubs

· ICAI

· Oxford Institutions

FIXED ASSETS

· Furniture and Fixture

· Electrical Fittings

· Plant and machinery

· Vehicles

· Computer

· Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 64.20
UK Pound	1	Rs. 100.03
Euro	1	Rs. 71.91

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	SUM
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.