MIRA INFORM REPORT

Report No. :	501866
Report Date :	26.04.2018

IDENTIFICATION DETAILS

Name :	JOSNIKA FOOD AND BEVERAGES PRIVATE LIMITED
Registered Office :	224, AJC Bose Road, 9th Floor, Room No.915, Kolkata-700017, West Bengal
Tel. No.:	91-33-22890132
Country :	India
Financials (as on) :	31.03.2018 [Provisional]
Date of Incorporation :	10.01.2017
Com. Reg. No.:	21-218888
Capital Investment / Paid-up Capital :	INR 19.800 Million
CIN No.: [Company Identification No.]	U74999WB2017PTC218888
IEC No.: [Import-Export Code No.]	Not Applicable [As informed by the management that firm does not have export and import]
TIN No.:	Not Divulged
GSTN : [Goods & Service Tax Registration No.]	19AADCJ8690D1Z9
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AADCJ8690D
Legal Form :	Private Limited Liability Company
Line of Business :	· Providing Service for Hospitality in Restaurants. [Confirmed by Management] · Manufacturing and Trading of Foods, Grains and Dal Milling, Flours, Maize, Oats, Processed Foods, Health & Diet Foods, Protein Foods, Agro Foods, Fast Foods, Packed Foods, Extruded Foods, Frozen Foods, Dehydrated Foods, Precooked Foods, Canned Foods, etc. [Registered Activity]
No. of Employees :	52 [Approximately]

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

NB

Credit Rating	Explanation	Rating Comments
NB	New Business	No recommendation can be done due to business in infancy stage

Status :	New Business
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

EXTERNAL AGENCY RATING

NOT AVAILABLE

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2016.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 26.04.2018

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION PARTED BY

Name :	Mr. Amit Sharma
Designation :	Accounts Manager
Contact No.:	91-9874235552
Date :	05.04.2018

LOCATIONS

Registered/ Head Office :	224, AJC Bose Road, 9th Floor, Room No.915, Kolkata-700017, West Bengal, India
Tel. No.:	91-33-22890132
Mobile No.:	91-9874235552 [Mr. Amit Sharma]
Fax No.:	Not Available
E-Mail :	slosalka@gmail.com samit22@gmail.com
Area :	600 Sq. Ft.
Location :	Rented
Locality :	Commercial
Branch Office:	H-36, 37, 38 Connaught Place New Delhi - 110001, India
Area :	6000 Sq. Ft.
Location :	Rented
Divisions:	1106, 11th Floor, B Wing, Naurang House, 21 K G Marg, New Delhi-110001, India
Area :	600 Sq. Ft.
Location :	Rented

DIRECTORS

AS ON: 31.03.2017

Name :

Mrs. Sumana Ghosh

Designation :

Director

Address :

9, Love Lock Place Orbit Place Flat-2C, Ballygunge, Kolkata - 700019, West Bengal, India

Date of Birth/Age :

27.11.1969

Qualification :

· B. Com Hons from Calcutta University

MBA on Industrial Relationship and Personal Management from Bhartia Vidya Bhawan

Experience :

20 Years

Date of Appointment :

10.01.2017

PAN No.:

ADYPG2386A

Aadhar No.:

847480203489

Passport No:

Z3469555

DIN No.:

01991828

Profile:

She is an entrepreneur engaged in diversified businesses, viz, infrastructure development, F&B operations, leisure & recreation centres, etc in India and Singapore. Apart from leading these businesses, she also plays the critical role of providing direction to new initiatives and is integral to the creative conceptualization process of fresh ideas for the business group.

The following are some of the businesses she spearheads in her current capacity: (i) one of the largest public recreation centres in Singapore, (ii) the Singapore restaurant franchise operation of Café Football (UK), (iii) a fitness centre in the Singapore CBD, (iv) mobile technology applications company in USA, (v) automotive service centres in collaboration with Mahindra Group

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U45309WB2016PTC217531	JOSNIKA INFRA PRIVATE LIMITED	01/06/2017	-
U45400WB2007PTC114994	SAI COMMERCIAL DEVELOPMENT PRIVATE LIMITED	24/06/2008	-
U60200WB2014PTC202505	DEDICO TRANSPORT PRIVATE LIMITED	27/05/2016	-
U64100WB2016PTC209626	TRIWAVE COMMUNICATION PRIVATE LIMITED	14/06/2017	-
U64200WB2008PTC128657	F2M COMMUNICATIONS PRIVATE LIMITED	14/01/2009	-
U70100WB2016PTC218014	JOSNIKA DEVELOPERS PRIVATE LIMITED	02/01/2017	-
U70200WB2010PTC146169	OMM SAI INFRA HOLDINGS PRIVATE LIMITED	28/10/2013	-
U74999WB2017PTC221254	JOSNIKA AVIATION PRIVATE LIMITED	30/05/2017	-
U80302WB2008PTC122087	PRARAMBH VIDYANGAN PRIVATE LIMITED	15/12/2010	-

Name :

Mr. Sunil Chander Nair

Designation :

Director

Address :

Flat No.C-3, 1201, The Legend Sushant Lok-3 Sector 57 Gurgaon Gurgaon - 122001, Haryana, India

Date of Birth/Age :

18.10.1971

Qualification :

· B Sc Physics (Hons), Kerala University

PGDM (MBA), Indian Institute of Management Bangalore

Experience :

20 Years

Date of Appointment :

01.06.2017

DIN No.:

07804768

Aadhar No.:

518036794618

PAN No.:

ABZPN8880D

Passport No:

P9223098

Profile:

He is leads the business strategy and operations functions for the company. He oversees the day-to-day operations of the business as well as development projects through their different stages for the business group.

In a professional career of over 21 years so far, Mr Nair has managed almost every business function, operated across sectors and worked in every region of the country. He has managed multifarious businesses & organizations in diverse environments, with functional roles that have included P&L responsibility, business strategy & planning, capital generation, sales & marketing (B2B & B2C), business operations (establishment & management), project oversight. Also, for most part, he has worked with companies or divisions in the early stages of their establishment, setting up structures & systems from scratch, creating new & sustainable revenue streams, building and leading business through different stages of its evolution, while optimizing the balance between long term and short term goals.

Mr. Nair‟s sphere of work has been the realty, infrastructure, retail, media & entertainment sectors, managing several portfolios (including his role in marketing two IPOs) and responsible for aggregate business of INR 30 billion across asset classes in the real estate segment alone.

Other Directorship :

CIN/FCRN	Company Name	Begin Date	End Date
U64100WB2016PTC209626	TRIWAVE COMMUNICATION PRIVATE LIMITED	14/06/2017	-
U74999WB2017PTC221254	JOSNIKA AVIATION PRIVATE LIMITED	01/06/2017	-
U74999WB2017PTC221388	TRIWAVE TECHNOLOGIES PRIVATE LIMITED	07/06/2017	-

KEY EXECUTIVES

Name :	Mr. Amit
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 21.09.2017

Names of Shareholders	No. of Shares	Percentage of Holding
Sumana Ghosh	9900	99.00
Sanjeev Losalka	100	1.00
Total	10000	100.00

AS ON: 21.09.2017

Equity Share Breakup	Percentage of Holding
Category
Promoters (Individual/Hindu Undivided Family - Indian)	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	· Providing Service for Hospitality in Restaurants. [Confirmed by Management] · Manufacturing and Trading of Foods, Grains and Dal Milling, Flours, Maize, Oats, Processed Foods, Health & Diet Foods, Protein Foods, Agro Foods, Fast Foods, Packed Foods, Extruded Foods, Frozen Foods, Dehydrated Foods, Precooked Foods, Canned Foods, etc. [Registered Activity]
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

End Users

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

No. of Employees :

52 [Approximately]

Bankers :

Bank Name:	Allahabad Bank
Branch:	Ritchi Road, Kolkata, West Bengal, India
Person Name (with Designation):	Mr. S Parida [Senior Manager]
Contact Number:	7076468647
Name of Account Holder:	JOSNIKA FOOD AND BEVERAGES PRIVATE LIMITED
Account Number:	50377895284
Account Since (Date/ Year of A/c Opening):	01.03.2017
Average Balance Maintained (Optional):	--
Credit Facilities Enjoyed (CC/OD/Term Loan):	--
Account Operation:	Operational
Remarks:	Mr. S Parida claimed that subject company holds a good track

Facilities :

--

Auditors :
Name :	Agarwal Anupam and Associates Chartered Accountants
Address :	209, AJC Bose Road, Kolkata- 700017, West Bengal, India
Tel. No.:	91-33-22810303
Mobile No.:	91-9830507184
E-Mail :	anupam.agarwal@rockatmail.com
Income-tax PAN of auditor or auditor's firm :	AOHPA4018F
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

AS ON 31.03.2018 [PROVISIONAL]

Authorised Capital : Not Available

Issued, Subscribed & Paid-up Capital : INR 19.800 Million

AS ON: 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	INR 10/- each	INR 5.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	INR 10/- each	INR 0.100 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2018 [Provisional]	10.01.2017 to 31.03.2017
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	19.800	0.100
(b) Reserves & Surplus	0.142	0.002
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	19.942	0.102
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	0.000	0.000
(c) Other current liabilities	32.500	0.005
(d) Short-term provisions	50.000	0.001
Total Current Liabilities (4)	82.500	0.006
TOTAL	102.442	0.108
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000	0.000
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	101.400	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	101.400	0.000
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	0.000	0.000
(c) Trade receivables	0.000	0.000
(d) Cash and cash equivalents	0.800	0.096
(e) Short-term loans and advances	0.000	0.000
(f) Other current assets	0.242	0.012
Total Current Assets	1.042	0.108
TOTAL	102.442	0.108

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2018 [Provisional]	10.01.2017 to 31.03.2017
	SALES
		Revenue from Operations	0.500	0.015
		Other Income	0.000	0.000
		TOTAL	0.500	0.015
Less	EXPENSES
		Other expenses	0.300	0.012
		TOTAL	0.300	0.012
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		0.200	0.003
Less	FINANCIAL EXPENSES		0.000	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.200	0.003
Less/ Add	DEPRECIATION/ AMORTISATION		0.000	0.000
	PROFIT BEFORE TAX		0.200	0.003
Less	TAX		0.060	0.001
	PROFIT AFTER TAX		0.140	0.002
	Earnings Per Share (INR)		0.07	0.22

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.03.2018 [Provisional]	10.01.2017 to 31.03.2017
Current Maturities of Long term debt	NA	NA
Cash generated from operations	NA	NA
Net Cash flow from (used in) Operations	NA	NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2018 [Provisional]	10.01.2017 to 31.03.2017
Average Collection Days (Sundry Debtors / Income * 365 Days)	0.00	0.00
Account Receivables Turnover (Income / Sundry Debtors)	0.00	0.00
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.00	0.00
Inventory Turnover (Operating Income / Inventories)	0.00	0.00
Asset Turnover (Operating Income / Net Fixed Assets)	0.00	0.00

LEVERAGE RATIOS

PARTICULARS	31.03.2018 [Provisional]	10.01.2017 to 31.03.2017
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.81	0.06
Debt Equity Ratio (Total Liability / Networth)	0.00	0.00
Current Liabilities to Networth (Current Liabilities / Net Worth)	4.14	0.06
Fixed Assets to Networth (Net Fixed Assets / Networth)	5.08	0.00
Interest Coverage Ratio (PBIT / Financial Charges)	0.00	0.00

PROFITABILITY RATIOS

PARTICULARS		31.03.2018 [Provisional]	10.01.2017 to 31.03.2017
Net Profit Margin ((PAT / Sales) * 100)	%	28.00	13.33
Return on Total Assets ((PAT / Total Assets) * 100)	%	0.14	1.85
Return on Investment (ROI) ((PAT / Networth) * 100)	%	0.70	1.96

SOLVENCY RATIOS

PARTICULARS	31.03.2018 [Provisional]	10.01.2017 to 31.03.2017
Current Ratio (Current Assets / Current Liabilities)	0.01	18.00
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.01	18.00
G-Score Ratio Financial (Networth / Total Assets)	0.19	0.94
G-Score Ratio Debt (Debts / Equity Capital)	0.00	0.00
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	0.01	18.00

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

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particulars	10.01.2017 to 31.03.2017	31.03.2018 [Provisional]
	INR In Million	INR In Million
Share Capital	0.100	19.800
Reserves & Surplus	0.002	0.142
Money received against share warrants	0.000	0.000
Share Application money pending allotment	0.000	0.000
Net worth	0.102	19.942
long-term borrowings	0.000	0.000
Short term borrowings	0.000	0.000
Total borrowings	0.000	0.000
Debt/Equity ratio	0.000	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	10.01.2017 to 31.03.2017	31.03.2018 [Provisional]
	INR In Million	INR In Million
Sales	0.015	0.500
		3,233.333

NET PROFIT MARGIN

Net Profit Margin	10.01.2017 to 31.03.2017	31.03.2018 [Provisional]
	INR In Million	INR In Million
Sales	0.015	0.500
Profit	0.002	0.140
	13.33%	28.00%

LOCAL AGENCY FURTHER INFORMATION

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

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OBSERVATION POINTS

Name of Company :	JOSNIKA FOOD AND BEVERAGES PRIVATE LIMITED
Address :	224, AJC Bose Road, 9th Floor Room No.915, Kolkata-700017, Kolkata, West Bengal, India
Contact No.:	91-9874235552
Person to whom we met:	Mr. Amit Sharma [Accounts Manager]
Name Board :	Sighted
Location:	Easy
Total Floors of the Building :	9 Floors
Subject situated on:	9th Floor
Locality:	Commercial
Area :	600 Sq. Ft.
Area of premises:	Upmarket
No. of employees seen at premises:	07 [Approx.]
Visibility of Items:	· Telephone · Computers · Air Conditioner · Office Equipment
Proof of visit:	Photos

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COMPUTATION OF DSCR

(INR IN MILLION)

Particulars	OPERATING YEARS
	31.03.2019 [Projected]	31.03.2020 [Projected]	31.03.2021 [Projected]	31.03.2022 [Projected]	31.03.2023 [Projected]
Funds available to service debt
Net profit after tax	9.636	18.276	21.996	25.367	28.540
Depreciation charges	10.256	9.231	8.308	7.477	6.729
Interest on term borrowings	5.725	5.006	3.856	2.706	1.556
Total	25.618	32.513	34.159	35.550	36.826
Debt service obligations
Repayment of term borrowing	--	10.00	10.000	10.000	10.000
Interest on term borrowings	5.725	5.006	3.856	2.706	1.556
Total	5.725	15.006	13.856	12.706	11.556
D.S.C.R (Individual Year	4.47	2.17	2.47	2.80	3.19
D.S.C.R. (Cumulative)	4.47	2.80	2.67	2.70	2.80
D.S.C.R (Weighed average)	3.02

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

PROJECTED BALANCE SHEET

(INR IN MILLION)

Particulars	OPERATING YEARS
	31.03.2019 [Projected]	31.03.2020 [Projected]	31.03.2021 [Projected]	31.03.2022 [Projected]	31.03.2022 [Projected]
LIABILITIES
Share	2.500	2.500	2.500	2.500	2.500
Surplusus of previous year	--	9.636	27.912	49.908	75.275
Add: Net Profit after tax	9.636	18.276	21.996	25.367	28.540
Surplus at the end of the year	9.636	27.912	49.908	75.275	103.815
Term loans	40.000	30.000	20.000	10.000	--
Working capital	10.000	10.000	10.000	10.000	10.000
Unsecured loan	60.200	60.200	60.200	60.200	60.200
Total	122.336	130.612	142.608	157.975	176.515
ASSETS
Fixed Assets
Capital work in progress	--	--	--	--	--
Building	89.564	89.564	89.564	89.564	89.564
Equipment’s and machineries	12.998	12.998	12.998	12.998	1.2998
Less: Accumulated depreciation	10.256	19.487	27.794	35.271	42.000
Net fixed assets	92.306	83.075	74.768	67.291	60.562
Current assets	--	--	--	--	--
Receivables	--	--	--	--	--
Closing stock	--	--	--	--	--
Cash and bank balances	30.030	47.537	67.840	90.684	115.953
Cost of construction (capital WIP)	--	--	--	--	--
Total	122.336	130.612	142.608	157.975	176.515

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PROJECTED PROFIT AND LOSS ACCOUNT

(INR IN MILLION)

Particulars	OPERATING YEARS
	31.03.2019 [Projected]	31.03.2020 [Projected]	31.03.2021 [Projected]	31.03.2022 [Projected]	31.03.2023 [Projected]
Sales	146.443	171.393	179.143	185.172	189.753
Material Consumed	49.848	58.402	61.053	63.276	64.678
Fuel Cost	1.098	1.285	1.344	1.393	1.423
Electricity & Water Charges	3.300	3.300	3.300	3.300	3.300
Rent-Including Gst	28.723	31.152	31.152	31.152	31.152
Staff Cost	21.225	23.340	24.702	25.215	25.627
AMC-RO	0.360	0.384	0.408	0.420	0.408
Insurance	0.377	0.420	0.448	0.464	0.474
Franchise Fees	2.200	2.200	2.200	2.200	2.200
Licence Fees	2.880	2.880	2.880	2.880	2.880
Marketing Expenses	0.720	0.720	0.720	0.720	0.720
Laundary Expenses	0.120	0.120	0.120	0.132	0.132
House Keeping Exp	1.620	1.800	1.860	1.920	1.860
Telephone & Internet Exp	0.144	0.144	0.144	0.144	0.144
Security Charges	1.248	1.368	1.428	1.488	1.428
Printing & Stationery	0.132	0.132	0.132	0.132	0.132
Staff Food & welfare	0.780	0.780	0.780	0.780	0.780
Repairs & Maintenance	0.703	0.843	0.880	0.912	0.932
Interest on Term Loan/WC	5.725	5.006	3.856	2.706	1.556
Misc Exp	0.600	0.600	0.600	0.600	0.600
Total Expenses	121.804	134.884	138.007	139.834	140.426
Profit Before Dep & Intt	24.639	36.508	41.137	45.338	49.326
Depreciation	10.256	9.231	8.308	7.477	6.729
Profit after depreciation	14.383	27.278	32.829	37.861	42.597
Income Tax	4.746	9.002	10.834	12.494	14.057
Net Profit after tax	9.636	8.276	21.996	25.367	28.540

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ASSESSMENT OF WORKING CAPITAL REQUIREMENT

OPERATING STATEMENT

(INR IN MILLION)

Particulars	OPERATING YEARS
	31.03.2019 [Projected]	31.03.2020 [Projected]	31.03.2021 [Projected]	31.03.2022 [Projected]	31.03.2023 [Projected]
GROSS SALES
Income from Diagnostic	--	--	--	--	--
Export Sales	--	--	--	--	--
Trading Sale	146.443	171.393	179.143	185.172	189.753
Total	146.443	171.393	179.143	185.172	189.753
Less Excise Duty	0.000	0.000	0.000	0.000	0.000
Net Sales (1-2)	146.443	171.393	179.143	185.172	189.753
% age rise (+) or fall (-) in net sales as compared to previous year (annualised)	0.00	17.04%	4.52%	3.37%	2.47%
COST OF SALES
Purchase of materials (including stores and other items used in the process of manufacture)	55.848	58.702	61.353	63.476	64.878
a. Imported	0.000	0.000	0.000	0.000	0.000
b. Indigneous	55.848	58.702	61.353	63.476	64.878
Other Spares
a. Imported
b. Indigneous	0.000	0.000	0.000	0.000	0.000
Power & Fuel	4.398	4.585	4.644	4.693	4.723
Direct Labour (Factory wages & salaries)	21.225	23.340	24.702	25.215	25.626
Other manufacturing expenses	10.290	10.803	11.003	11.196	11.096
Depreciation	10.256	9.231	8.308	7.477	6.729
Sub-total	102.017	106.661	110.010	112.057	113.052
Add: Opening Stock-in-process	0.000	6.000	6.300	6.600	6.800
Sub-total	102.017	112.661	116.310	118.657	119.852
Deduct: Closing Stock-in-process	6.000	6.300	6.600	6.800	7.000
Cost of Production	96.017	106.361	109.710	111.857	112.852
Add: Opening Stock of finished goods	0.000	0.000	0.000	0.000	0.000
Sub-total	96.017	106.361	109.710	111.857	112.852
Deduct: Closing Stock of finished goods	0.0000	0.000	0.000	0.000	0.000
Sub-total (Total cost of sales)	96.017	106.361	109.710	111.857	112.852
Selling, general and administrative expenses	30.319	32.748	32.748	32.748	32.748
Sub-total	126.336	139.109	142.458	144.605	145.600
Operating Profit before interest	20.107	32.284	36.685	40.567	44.153
Interest	5.725	5.006	3.856	2.706	1.556
Operating Profit after interest	14.382	27.278	32.829	37.861	42.597
Add : Other non-operating income
a. Other income	0.000	0.000	0.000	0.000	0.000
b. Profit on Sale of Investment	--	--	--	--	--
c. Liability Written Back	--	--	--	--	--
Sub-total (Income)	0.000	0.000	0.000	0.000	0.000
Deduct: Other non-operating expenses
a. Loss on Sale of Investment	0.000	0.000	0.000	0.000	0.000
b. Interest on unsecured loan	0.000	0.000	0.000	0.000	0.000
c. Other Expenses	0.000	0.000	0.000	0.000	0.000
Sub-total (Expenses)	0.000	0.000	0.000	0.000	0.000
Net of other non-operating income/ expenses	--	--	--	--	--
Profit before tax/loss	14.382	27.278	32.829	37.861	42.597
Provision for taxes (Including FBT)	4.746	9.002	10.834	12.494	14.057
Net Profit/Loss	9.636	18.276	21.995	25.367	28.540
Equity dividend paid-amount (Already paid + B.S.Provision)	--	--	--	--	--
Dividend Rate (% age)	--	--	--	--	--
Retained Profit	9.636	18.276	21.995	25.367	28.540
Retained Profit/Net Profit (% age)	100.00%	100.00%	100.00%	100.00%	100.00%
Cash Accruals	198.92	275.07	303.03	328.44	352.69
PBDIT	303.63	415.15	449.93	480.44	508.82
Operating PBDIT	303.63	415.15	449.93	480.44	508.82
Operating PBDIT to Sales%	20.73	24.22	25.12	25.95	26.81

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

ANALYSIS OF BALANCE SHEET

(INR IN MILLION)

Particulars	OPERATING YEARS
	31.03.2019 [Projected]	31.03.2020 [Projected]	31.03.2021 [Projected]	31.03.2022 [Projected]	31.03.2023 [Projected]
Short-term borrowing from banks (including bills purchased, discounted & excess borrowing placed on repayment basis)
i) From Applicant Bank (CC/PC)	10.000	10.000	10.000	10.000	10.000
ii) From other Proposed Bank	--	--	--	--	--
iii) (of which BP & BD)	0.000	0.000	0.000	0.000	0.000
Sub-total	10.000	10.000	10.000	10.000	10.000
Short-term borrowing from Banks (FBN)	--	--	--	--	--
Sundry Creditors (Trade)/LC	0.000	0.000	0.000	0.000	0.000
Advance payments from customers/deposits	0.000	0.000	0.000	0.000	0.000
from dealers	0.000	0.000	0.000	0.000	0.000
Provision for taxation	4.746	9.002	10.834	12.494	14.057
Dividend Payable	--	--	--	--	--
Other statutory liabilities (due within 1 year)	--	--	--	--	--
Deposits/instalments of term loans/	--	--	--	--	--
DPGs/debentures etc. (due within 1 year)	--	--	--	--	--
Other current liabilities & provisions (due within 1 year) - specify major items	0.000	0.000	0.000	0.000	0.000
a. Creditors for expenses	--	--	--	--	--
b. Interest accrued but not due for payment	--	--	--	--	--
c. Other liabilities	0.000	0.000	0.000	0.000	0.000
Sub total	4.746	9.002	10.834	12.494	14.057
Total Current Liabilities	14.746	19.002	20.834	22.494	24.057
TERM LIABILITIES
Debentures (not maturing within 1 year)	--	--	--	--	--
Term Loan from Allahabad Bank	0.000	0.000	0.000	0.000	0.000
Other Term loans (excluding instalments payable within 1 year)	0.000	0.000	0.000	0.000	0.000
Term Loan instalments due within 1 year)	10.000	10.000	10.000	10.000	10.000
Term deposits (repayable after 1 year)	30.000	20.000	10.000	0.000	0.000
Other term liabilities (Unsecured Loan)	42.700	42.700	42.700	42.700	42.700
Unsecured Loan	42.700	42.700	42.700	42.700	42.700
Deferred Tax Liability	--	--	--	--	--
Total Term Liabilities	82.700	72.700	62.700	52.700	42.700
Total Outside Liabilities	97.446	91.702	83.534	75.194	66.757
NET WORTH
Ordinary Share Capital	20.000	20.000	20.000	20.000	20.000
General Reserve	0.000	0.000	0.000	0.000	0.000
Revaluation Reserve	--	--	--	--	--
Other Reserves (Share Premium)	0.000	0.000	0.000	0.000	0.000
Surplus (+) or deficit (-) in profit & Loss a/c.	9.645	27.921	49.916	75.283	103.823
a) Others	0.000	0.000	0.000	0.000	0.000
b) Quasi equity	0.000	0.000	0.000	0.000	0.000
Net Worth	29.645	47.921	69.916	95.283	123.823
TOTAL LIABILITIES	127.091	139.623	153.450	170.477	190.580
ASSETS
Cash and Bank Balances	24.039	41.246	61.249	83.893	108.962
Investments (other than long term)
I. Govt. and other trustee securities	--	--	--	--	--
ii. Fixed Deposits with banks	0.000	0.000	0.000	0.000	0.000
I. Receivables other than deferred & exports (incldg. bills purchased and discounted by banks)	0.000	0.000	0.000	0.000	0.000
ii. Export receivables (incldg. bills purchased and discounted by banks)	0.000	0.000	0.000	0.000	0.000
Instalments of deferred receivables(due within1year)
Inventory :	6.000	6.300	6.600	6.800	7.000
I. Raw materials (including stores and other items used in the process of manufacture)	6.000	6.300	6.600	6.800	7.000
a. Imported	--	--	--	--	--
b. Indigenous	6.000	6.300	6.600	6.800	7.000
ii. Stock-in-process	0.000	0.000	0.000	0.000	0.000
iii. Finished goods	0.000	0.000	0.000	0.000	0.000
iv. Other consumable spares
a. Imported	--	--	--	--	--
b. Indigenous	0.000	0.000	0.000	0.000	0.000
Advances to suppliers of raw materials and stores/spares/Finished Goods	0.000	0.000	0.000	0.000	0.000
Advance payment of taxes	4.746	9.002	10.834	12.494	14.057
Other current assets (specify major items)	0.000	0.000	0.000	0.000	0.000
a. Loans & Advances	0.000	0.000	0.000	0.000	0.000
b. TDS & Taxes Receivables	0.000	0.000	0.000	0.000	0.000
c. Prepaid expenses	--	--	--	--	--
d. Others	0.000	0.000	0.000	0.000	0.000
Total Current Assets	34.785	56.548	78.683	103.187	130.019
FIXED ASSETS
Gross Block (land, building, machinery,	102.562	102.562	102.562	102.562	102.562
Work-in-progress	0.000	0.000	0.000	0.000	0.000
Depreciation to date	10.256	19.487	27.795	35.272	42.001
Net Block	92.306	83.075	74.767	67.290	60.561
Investments/ book debts/ advances/ deposits which are not current assets	0.000	0.000	0.000	0.000	0.000
I. a. Investments in subsidiary companies/ affiliates (secured)	0.000	0.000	0.000	0.000	0.000
b. Others (Investment in Shares)	0.000	0.000	0.000	0.000	0.000
ii. Advances to suppliers of capital goods and contractors	0.000	0.000	0.000	0.000	0.000
iii. Deferred receivables (maturity exceeding 1 year)	--	--	--	--	--
iv. Others	0.000	0.000	0.000	0.000	0.000
Non-consumable stores and spares
Other non-current assets including dues from directors	0.000	0.000	0.000	0.000	0.000
Total Other Non-current Assets	0.000	0.000	0.000	0.000	0.000
Intangible Assets (patents, good will, prelim.expenses, bad/doubtful debts not provided for, etc.	0.000	0.000	0.000	0.000	0.000
Total Assets	127.091	139.623	153.450	170.477	190.580
Tangible Net Worth	29.645	47.921	69.916	95.283	123.823
Net Working Capital	20.039	37.546	57.849	80.693	105.962
Current Ratio	2.36	2.98	3.78	4.59	5.40
Total OUTSIDE Liabilities/Tangible	--	--	--	--	--
Net Worth	0.329	0.191	0.119	0.079	0.54
Total TERM Liabilities/Tangible	--	--	--	--	--
Net Worth	0.279	0.152	0.090	0.055	0.034

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

FUND FLOW STATEMENT

(INR IN MILLION)

Particulars	OPERATING YEARS
	31.03.2019 [Projected]	31.03.2020 [Projected]	31.03.2021 [Projected]	31.03.2022 [Projected]	31.03.2023 [Projected]
SOURCES
a. Net Profit	9.636	18.276	21.995	25.367	28.540
b. Depreciation	10.256	9.231	8.308	7.477	6.729
c. Increase in Capital	0.000	0.000	0.000	0.000	0.000
d. Increase in Term Liabilities (including Public Deposits)	0.000	0.000	0.000	0.000	0.000
e. Decrease in	--	--	--	--	--
I. Fixed Assets	--	--	--	--	--
Ii Other non-current Assets	--	--	--	--	--
f. Others	0.000	0.000	0.000	0.000	0.000
g. TOTAL	19.892	27.507	30.303	32.844	35.269
USES
a. Net loss	--	--	--	--	--
b. Decrease in Term Liabilities (including Public Deposits)	0000	10.000	10.000	10.000	10.000
c. Increase in	--	--	--	--	--
I. Fixed Assets	0.000	0.000	0.000	0.000	0.000
Ii Other non-current Assets	--	--	--	--	--
d. Dividend Payments	0.000	0.000	0.000	0.000	0.000
e. Others	0.000	0.000	0.000	0.000	0.000
f. Total	0.000	10.000	10.000	10.000	10.000
Long Term Surplus (+) / Deficit (-) [1-2]	19.892	17.507	20.303	22.844	25.269
Increase/decrease in current assets
* (as per details given below)	34.635	21.763	22.135	24.504	26.832
Increase/decrease in current liabilities other than	--	--	--	--	--
bank borrowings	4.743	4.256	1.832	1.660	1.563
Increase/decrease in working capital gap	29.892	17.507	20.303	22.844	25.269
Net surplus/Deficit (-) [3-6]	(100.00)	0.000	0.000	0.000	0.000
Increase/decrease in bank borrowings	10.000	0.000	0.000	0.000	0.000
Increase/decrease in Net Sales	--	24.950	7.750	6.029	4.581

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

COMPARATIVE STATEMENT OF CURRENT ASSETS

AND CURRENT LIABILITIES

(INR IN MILLION)

Particulars	OPERATING YEARS
	31.03.2019 [Projected]	31.03.2020 [Projected]	31.03.2021 [Projected]	31.03.2022 [Projected]	31.03.2023 [Projected]
CURRENT ASSETS
Raw materials (including stores and other items used in the process of manufacture)
a. Imported	0.000	0.000	0.000	0.000	0.000
Month's Consumption	--	--	--	--	--
b. Indigenous	6.000	6.300	6.600	6.800	7.000
Month's Consumption	(1.29)	(1.29)	(1.29)	(1.29)	(1.29)
Other Consumable spares, excluding those included in 1 above
a. Imported	0.000	0.000	0.000	0.000	0.000
Month's Consumption	--	--	--	--	--
b. Indigenous	0.000	0.000	0.000	0.000	0.000
Month's Consumption	--	--	--	--	--
Stock-in-process	0.000	0.000	0.000	0.000	0.000
Month's cost of production	--	--	--	--	--
Finished goods	0.000	0.000	0.000	0.000	0.000
Month's cost of sales	--	--	--	--	--
Receivables other than export & deferred Receivables (incl. bills purchased & discounted by bankers)	0.000	0.000	0.000	0.000	0.000
Month's domestic sales: excluding deferred payment sales.	--	--	--	--	--
Export receivables (including bills purchased and discounted)	0.000	0.000	0.000	0.000	0.000
Month's export sales	--	--	--	--	--
Advances to suppliers of raw materials & stores/ spares, consumables	0.000	0.000	0.000	0.000	0.000
Other current assets including cash & bank balances & deferred receivables due within one year
Cash and Bank Balances	24.039	41.246	61.249	83.893	108.962
Investments (other than long term) :
I. Govt. and other trustee securities	0.000	0.000	0.000	0.000	0.000
ii. Fixed Deposits with banks	0.000	0.000	0.000	0.000	0.000
Instalments of deferred receivables (due within 1 year)	0.000	0.000	0.000	0.000	0.000
Advance payment of taxes	4.746	9.002	10.834	12.494	14.057
Other current assets	0.000	0.000	0.000	0.000	0.000
Total Current Assets	34.785	56.548	78.683	103.187	130.019
CURRENT LIABILITIES
Creditors for purchase of raw materials, stores and consumable spares	0.000	0.000	0.000	0.000	0.000
Month's Purchases	--	--	--	--	--
Advances from customers	0.000	0.000	0.000	0.000	0.000
Statutory liabilities	0.000	0.000	0.000	0.000	0.000
Other current liabilities :	4.746	9.002	10.834	12.494	14.057
Short term borrowings from others	0.000	0.000	0.000	0.000	0.000
Provision for taxation	4.746	9.002	10.834	12.494	14.057
Dividend payable	0.000	0.000	0.000	0.000	0.000
Deposits/instalments of term loans/DPGs/ debentures etc. (due within 1 year)	0.000	0.000	0.000	0.000	0.000
Other current liabilities & provisions (due within 1 year)	0.000	0.000	0.000	0.000	0.000
Total (To agree with total B of Form-III)	4.746	9.002	10.834	12.494	14.057

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

COMPUTATION OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL

(INR IN MILLION)

Particulars	OPERATING YEARS
	31.03.2019 [Projected]	31.03.2020 [Projected]	31.03.2021 [Projected]	31.03.2022 [Projected]
FIRST METHOD OF LENDING
Total Current Assets (Form-IV-9)	34.785	56.548	78.683	103.187
Other Current Liabilities (Other than bank
borrowings (Form-IV-14)	4.746	9.002	10.834	12.494
Working Capital Gap (WCG) (1-2)	30.039	47.546	67.849	90.693
Min. stipulated net working capital (25% of WCG excluding export receivables)	7.510	11.887	16.962	22.673
Actual/ Project net working capital (Form-III-45)	20.039	37.546	57.849	80.693
Item-3 minus Item-4	22.529	35.660	50.887	68.020
Item-3 minus Item-5	10.000	10.000	10.000	10.000
(Item-6 or 7, whichever is lower)	10.000	10.000	10.000	10.000
Excess borrowings representing shortfall in NWC (4-5)	--	--	--	--
SECOND METHOD OF LENDING
Total Current Assets (Form-IV-9)	34.785	56.548	78.683	103.187
Other Current Liabilities (other than bank borrowings (Form-IV-14)	4.746	9.002	10.834	12.494
Working Capital Gap (WCG) (1-2)	30.039	47.546	67.849	90.693
Min. stipulated net working capital (25% of total Current Assets excluding export receivables)	8.696	14.137	19.671	25.797
Actual/Projected net working capital (Form-III-45)	20.039	37.546	57.849	80.693
Item-3 minus Item-4	21.343	33.409	48.178	64.896
Item-3 minus Item-5	10.000	10.000	10.000	10.000
Max. permissible bank finance (Item-6 or 7, whichever is lower)	10.000	10.000	10.000	10.000
Excess borrowings representing shortfall in NWC (4-5)	--	--	--	--

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

COMPANY PROFILE

While India has always been a food-loving country with each region having its own special cuisine, Indians have never been very big on eating out. But all that is changing now. The restaurant industry in India has been growing at a rapid pace over the last decade or so and the growth story is set to continue for the next foreseeable future. The growth of the restaurant industry coincided with the growth of the great Indian middle class, which was the byproduct of liberalization. Rapid urbanization, growing awareness of Western lifestyles, more women joining the workforce, and higher disposable income were some of the factors that contributed to the growth of the restaurant industry. While the QSR (Quick Service Restaurant) industry was thriving, Indians discovered fine dining, too. The joy of experiential eating was new to the Indian consumer; greater awareness of global cuisines & gourmet food as well as the search for a heightened dining experience led them to high-end restaurants.

The Indian restaurant market was valued at INR. 204000.000 million in 2016 and is expected to grow to INR 510000.000 million by 2021, according to industry body National Restaurant Association of India (NRAI).

India today is one of the fastest growing economies in the world. It is expected to register a GDP growth of 7.5 per cent this fiscal and is on its way to becoming a US $3.8 trillion dollar economy by 2021. The countrys economic dynamics are playing out in force and the imprints are visible all over: the ever-evolving consumer demands, rapid urbanization, favorable demographics, increased disposable income, more women in workspace and changing lifestyles and food habits. All of these economic factors have ushered in a scenario where the foodservice industry is changing every quarter and there are ripples of disruptive changes coursing through the market. But what is heartening is the positive upside to these changes with the market outlook presenting significant opportunities for industry players.

Food evolution is happening thanks to innovations in the traditional menus and experimental consumers. Indian food will continue to dominate and grow strong and be complemented by the rise of Indian ethnic, regional cuisines. Foreign players are adapting themselves to suit the local palate while Indian restaurants are introducing Continental, Chinese, Thai, Mexican and Italian cuisines.

According to NRAI report for 2013-17, cafes serving coffee and tea have seen a compounded annual growth rate of 6.9% for standalone and 5.9% for chains during 2013-17.

In contrast, pubs, bars, liquor-serving cafes and lounges (PBCL) have witnessed the highest compounded annual growth rate at 25.4%. The report adds that while overall cafe revenues jumped from INR 59150.000 million to INR 71750.000 million, the PBCL segment grew from INR 89550.000 million to INR 125450.000 million during 2013-17.

In view of these significant factors, Josnika Food & Beverages Private Ltd. (JFBPL) has taken up the project of Multiple Units of Fine Dining Restaurants and Resto Bars/Café Bars at the most happening place of India – Connaught Place, New Delhi, with an International standard of infrastructure.

PLANNING AND ARRANGEMENT FOR SETTING UP OF A STATE-OF-THE-ART MULTI BRAND FOOD & BEVERAGE UNITS

JFBPL has tied up with “K - Hospitality Corp”, one of the most renowned F&B Companies in India, which was founded over 40 years ago in Mumbai, India by Mr. J. K. Kapur (or "JK" as he was fondly known). He had migrated to Mumbai from modern day Pakistan on top of a train with his sisters and a few suitcases in tow, and landed in Mumbai to build his life from scratch. Over the years he built up a movie production business, but his passion for food had defined his life and ultimately led him to start an Indian restaurant known as "Copper Chimney" in the heart of Mumbai.

Since its launch, Copper Chimney has been considered a pioneer in the Indian restaurant space, with a live open kitchen, one of the first in India, along with superlative tasty Indian food served in a high-end ambience. Guests would line up at the display kitchen to watch "Ustad's" (highly qualified chefs who had carried culinary traditions down for generations) tossing Copper Chimney's signature Roomali Rotis in the air and preparing fresh grilled kebabs.

Today, built on the foundation of providing memorable high quality food experiences to their guests, K Hospitality Corp has expanded to become one of the top hospitality & food service companies in India, privately held, with operations across:

Specialty restaurants

· Bars

Cafés

Large-scale F&B venues concession management

Banqueting

Outdoor catering

Sports and industrial catering

Travel retail

From the bouquet of iconic International & National brand partners as well as in-house brands of K-Hospitality Corp. JFBPL has taken Franchise of two of the most iconic Brands i.e. “Bombay Brasserie” and “The Irish House” apart from launching JFBPL’s own Café Bar “Cibo Bistro” in technical collaboration with K-Hospitality Corp.

BOMBAY BRASSERIE INDIAN BISTRO AND LOUNGE

Bombay Brasserie is a brand from the house of the „Legendary Copper Chimney‟. The Brasserie, has been conceptualized and created to have a niche of its own and celebrate the Flavours of India. Years of research and development have resulted in a culinary journey that takes you from traditional royal kitchens, to the secret recipes from a mother‟s kitchen.

The “Bombay Brasserie” is an Indian restaurant which was listed in the Michelin Guide 2016 as being of "excellent standard". The London Economic stated the restaurant's mission as having always been to present "the authentic food of Bombay in all its ethnic variety", commenting that, it meets and exceeds that goal. Cultural influences include Parsi, Goan, Bengali, and Gujarati. In 2016, Calibre Quarterly called it a "leading contender for London's finest Indian restaurant". Sloan Magazine described it as luxurious and iconic, with "authentic, eclectic Bombay and Indian cuisine."

The Bombay Brasserie is the culmination of that long and invaluable process; years of research that has created a unique bouquet of flavours as you embark on a delicious culinary journey to experience unique ingredients sourced from across India.

Apart from its international presence “Bombay Brasserie” has its presence in Mumbai, Kolkata, Bengaluru, Chennai and Pune. The much-awaited launch of Bombay Brasserie in Delhi is going to take place soon with JFBPL at Connaught Place.

Estimated Commercial date of Operation of Bombay Brasserie: - 01/04/2018

THE IRISH HOUSE

The Irish House is a lively pub for beer lovers, sports fanatics and gourmands of the city. The Irish House is a perfect neighborhood hangout. The ambience captures the warm welcoming spirit of traditional pubs back in grand old Ireland and combines it with modern architecture.

The award-winning brand is known for its energetic vibe, friendly service and a stellar food and beverage offering. The highlights of The Irish House include one of the largest bars with 40+ beers from all over the world, a venue for watching your favourite sports, as well as an exciting calendar of local live events.

The food menu brings the right balance of classic and contemporary pub grub with signature items like the Great Irish Fish & Chips and Grande Nachos. This young brand is fast expanding across locations in India and remains one of the most happening hangout destinations in cities and neighborhoods it opens in across the country

Estimated Commercial date of Operation of The Irish House: - 01/05/2018

CIBO BISTRO

Cibo Bistro, a café and all-day diner is a result of detailed meticulous planning of the management team of Josnika Food & Beverages Pvt Ltd. to place it along side very niche brands like The Irish House & Bombay Brasserie.

Cibo Bistro is envisaged to offer moderately priced menu suited to the requirements of a broad clientele including breakfast, lunch & dinner. The focal point of this diner would be the scrumptious breakfast and brunch menu, with a delectable range of every quintessential brunch specialty including great cocktails and baked items. The USP of the place is its versatility such that it can double up as a diner in the evenings and accommodate guests for a pleasant meal with the menu having elements from the all day brunch as well as entrees designed specially for dinner. An all day dining venue with a brunch that should draw the crowds.

Everything is fresh, best quality to take care of guests needs by experience staff, ensuring benchmarked customer service. At Cibo Bistro all services are delivered in their extraordinary atmosphere, which includes a comprehensive menu & recipe from Mediterranean cuisine.

Cibo Bistro concept is built up to cater the Elite clients looking for Breakfast dining and coffee, also modern requirements of different types of Wines & beers its first of its quality offering variety of café foods with different type wines & Draught beers & mouth water beverages, Located in Heart of Delhi Connaught Place famous hotspot of Tourist & shopping destination for locals residents, As Connaught place got well connected metro & roads & rail all over Delhi. Cibo Bistro will provide accessible and affordable high quality entertainment to the thousands of residents and hotel visitors & tourists located within a five-mile radius. In time, Cibo Bistro will establish itself as a "destination" of Family, friends, tourists, corporate, catering 250-300 guests in a day.

Estimated Commercial date of Operation of Cibo Bistro: - 01/06/2018

DEMAND INDICATORS FOR F&B BUSINESS

The food industry in India has been booming in the recent times, owing to the rising disposable income of the middle class. The Indian restaurant market was valued at Rs 20,400 crore in 2016 and is expected to grow to Rs 51,000 crore by 2021, according to industry body National Restaurant Association of India (NRAI).

India today is one of the fastest growing economies in the world. It is expected to register a GDP growth of 7.5 per cent this fiscal and is on its way to becoming a US $3.8 trillion dollar economy by 2021. The country‟s economic dynamics are playing out in force and the imprints are visible all over: the ever-evolving consumer demands, rapid urbanization, favourable demographics, increased disposable income, more women in workspace and changing lifestyles and food habits. All of these economic factors have ushered in a scenario where the foodservice industry is changing every quarter and there are ripples of disruptive changes coursing through the market. But what is heartening is the positive upside to these changes with the market outlook presenting significant opportunities for industry players.

The foodservice sector is witnessing growth due to an increasing preference to eat outside, growing participation of women in the workforce and double income families – all creating new opportunities for the industry.Food evolution is happening thanks to innovations in the traditional menus and experimen tal consumers. Indian food will continue to dominate and grow strong and be complemented by the rise of Indian ethnic and regional cuisines. Foreign players are adapting themselves to suit the local palate while Indian restaurants are introducing Thai, Mexican and Italian cuisines.

Health and hygiene conscious consumers with wellness on the mind are moving towards healthy eating options. Foodservice operators are meeting customer preferences by adding healthy food options to their menu, ranging from lactose-free, vegan, low carbohydrates, gluten-free and diabetic meals, etc. Some restaurants have also started serving health food or organic food as their core offerings.

The NRAI report is a compilation of statistics and results, which have been acquired after interaction with over 50 CEOs and surveys conducted in 20 cities of India covering more than 2000 people. The report stated that the restaurant market in India was worth well over 3.09 Lakh Crores in 2016 and will contribute almost INR 224000.000 million by way of taxes in the F.Y 2017-18. The report also stated that the food market of the country directly employs more than 6 million as of 2017.

Apart from the current scenario, the future of the food sector of India seems to be soaring as well. As per the reports, the food services will be valued at almost 5 Lakh Crores in 2021, witnessing a Compound Annual Growth Rate (CAGR) of 10%. Also, by 2021 the restaurant sector will contribute almost 2.1 percent to the nation‟s GDP.

Niti Aayog CEO Amitabh Kant stated that “India’s exponential growth and consumption in terms of regularity of eating out and testing with cuisines and concepts have given the F&B services sector such a boost that the industry is presently projected to be valued at USD 48 billion in terms of overall market size”.

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VALUATION REPORT

(GENERAL DETAILS)

Name of the Owner	JOSNIKA DEVELOPERS PRIVATE LIMITED
Location, Street, Ward No	Mouza-Andul, J.L No. 36, Dag No. 1158, 1159, 1160, 1161, 1164, L.R. Khation No. 4009, Under Jurisdiction of Andul Gram Panchayat, P.S.-Andul, Burdwan, West Bengal, India

Value of Land	INR 13.608 Million
Realizable Value	INR 12.000 Million
Distress Sale Value	INR 11.000 Million

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VALUATION REPORT

(GENERAL DETAILS)

Name of the Owner	ARCAVA REAL ESTATE PRIVATE LIMITED Directors: Mr. Chinmay Bhattacharjee Mr. Kartick Bhattacharjee
Location, Street, Ward No	Premises No. 1925, Chak Garia, Mouza-Rajpur, J.L No. 23, Mouza-Chakmasar J.L No. 30 and 1002 (P), 1012 (P), 1013 (P), 1018& 1019, R. S. Plot No. 53 (P), Ward No. 109, Under jurisdiction of Kolkata Municipal Corporation, P.S.-Formerly Jadavpu at Present Purba Jadavpur, Kolkata-700094, Dist. (S) 24 Pgs. West Bengal.

Prime Value	INR 9.861 Million
Realizable Value	INR 8.870 Million
Distress Sale Value	INR 7.985 Million

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REVIEW OF OPERATIONS

During the year, the company has profit of INR 0.002 million as this is the first year no previous year figure has been reported.

The company is undertaking active efforts towards accelerating the growth speed and is optimistic about better performance in the future.

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INDEX OF CHARGES: NO CHARGES EXISTS FOR COMPANY 

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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 records 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	INR
US Dollar	1	INR 66.70
UK Pound	1	INR 93.14
Euro	1	INR 81.43

INFORMATION DETAILS

Information Gathered by :	PNM
Analysis Done by :	NYT
Report Prepared by :	ARC

SCORE FACTORS

DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and opera tions size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.