B/6/Pg.11.

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STATEMENT OF AFFAIRS as on 31.03.96

ASSET ESTIMATED
REALISED
Asset not specifically pledged ( as per list A ) VALUE
Cash in hand 12000
Trade debtors 430000
Freehold 1850000
Plant and machinery 630000
Fixture and fittings 80000
Call in arrear 20000
Other 600000
3602000
Asset specifically pledged (as per list B )
Estimated value Due to secured Deficiency Surplus carried
Creditors ranking as
unsecured
400000 350000 - 50000
200000 400000 200000 -
50000
600000 750000 200000 50000
Estimated total asset available for preferential creditors debenture holder
secured by a floating charges bank overdraft secured by a second floating
charges and unsecured creditors 3652000
ASSET
Gross realized value of asset
Specifically pledged 600000
other 3622000
4222000
LIABILITIES
550000 Secured Cr to the extent to which claims are estimated to
be covered by asset specifically pledged ( as per list B )
75000 Preferential Cr ( as per list C ) 75000
Estimated balance of asset available for debenture holders
secures by a floating charges bank overdraft secured by
second floating and unsecured Cr
2000000 2000000
Debenture holder secured by floating charges ( as per list
D)
Bank OD secured by second Floating charges ( as per list 200000
200000
D)
2825000 Estimated surplus as regard debenture holder and bank
unsecured Cr ( as per list E ) 1377000
Estimated unsecured balance of claims Rs
Cr partly secured on specific asset 200000
Unsecured Cr 2700000 2900000
 Estimated deficiency as regard Cr being the different between gross 1523000
liabilities and gross asset
Issued and called up capital;
300000 @ Rs 10 each ( as per list F) 3000000
equity share capital 200000 @ 10 each (as per list G )
2000000
Less ; call in arrear 20000
1980000
Estimated deficiency as regard member or contributories (as per list H) 6503000