Credit Approval Memorandum

Of

Autobahn.

Brand by

Chiffonade Ventures Pvt. Ltd.

Fresh Term loan: Rs. 50 lacs Crores for 60 months
___________________________________________________________________

Chiffonade Ventures Pvt. Ltd

Sage CRM No.
CLOS ID
Sourcing
Total No of Deviation ( ASM to fill)
Date & time of login to CPA (DD/MM/YY - HH/MM)
Date & time of query raised by CPA/ACM (DD/MM/YY - HH/MM)
Date & time of query resolved by Sales (DD/MM/YY - HH/MM)
Date & time of uploading of Credit note to approving authority (DD/MM/YY - HH/MM)
Date of approval DD/MM/YY
Total login TAT
Total Credit TAT

CREDIT APPROVAL MEMORANDUM

Controlling Branch /
Pune Under restricted list: No
Zone
Name of Principal NA Type of exposure: New term loan

Name of customer Chiffonade Ventures Pvt. Ltd. PAN No: AAHCC2063P

CAM type New Client since: New

Core business of
Hospitality
customer
P1 602 Oxford Premiums,Wanowdi, Pune - 411040
Regd Office:
Names of Guarantors Mr Subhahish Roy:- ADTPR0802M :- No Overdue Found.
PAN nos. Mr. Swaroop Agaskar :- AGAPA9939N:- No overdue found.
Corporate Guarantors None
RBI Defaulter List To be checked
BIFR No Negative match found in Latest Online Case Status list.
Watch Out Investors To be checked
Commercial CIBIL No overdues.
Dedupe Mr Subhashish Roy:- Positive Record Found.
RCU Not Applicable FI Not Applicable
Constitution Pvt.Ltd. Incorporation date 21/09/2017
Recommendation Note to take before Stop Supply NA
letter from Corporate disbursement Arrangement

REFERENCE CHECKS:
i) Banker’s reference – NA

Chiffonade Ventures Pvt. Ltd

FACILITY SUMMARY:

Existing limits & facility proposed are as below: - Rs. in Lacs

Nature of
facility Disbursed O/s. Prop. Tenure Security
Existing
NA NA
Proposed new
Personal Guarantee of Investors.
Corporate Loan 0.00 0.00 50 60 Months Hypothecation of Equipment
funded by TCFSL.
Total 30.00

Existing Term Loan Security details: NA

Chiffonade Ventures Pvt. Ltd

SUMMARY OF LIMITS :

Facility I
Facility Type Corporate Loan (New - Proposed)
Purpose General corporate purpose and / or Business expenditure
Proposed Limit Rs. 50 lacs
Maximum tenor 60 Months ( with 6 months moratorium period.)
Renewal NA
Moratorium 6 months.
Disbursement schedule As per customer request
Rate of Interest 12.50% pa.
Repayment schedule Monthly
1.00% of Loan amount + Applicable service Tax, to be collected upfront
Upfront fees
from Borrower
Interest Payment
Interest to be paid on monthly basis on reducing balance
Frequency
6% p.a. on delayed payment over and above normal interest from the
Penal interest
due date till the date of receipt.
Pre-payment penalty 4% of the amount prepaid.
 Personal Guarantee of Promoters and Directors.
Security
 Hypothecation of Equipment Funded.
1. Accepted sanction letter
Documents to executed 2. Application form
by the company before 3. Board Resolution
disbursement 4. Net worth statement of Guarantors
5. NACH form.
1. The borrower shall submit any other MIS / Information if required by
TCL from time to time.
Undertaking from the
borrower confirming the
2. Audited/ Provisional financial statement to be submitted to TCL
within 90 days from the close of the financial year.
covenants
3. Half yearly financials updates to be submitted within 15 days after
end of the quarter.
Other terms and 1. The Company not to borrow without prior written intimation to TCL.
conditions 2. Interest rate is subject to review / change at the discretion of TCL.
1. Absence of any material adverse change in the condition of the
borrower.
2. The borrower or its associates not having defaulted under any
The commitment of the
financing obligation to any bank or institution in past.
proposed facility is
contingent upon 3. Compliance by the borrower of all laws and regulations applicable to
its operations.
4. The borrower fulfilling all its financial obligations under various
taxation, retrial and applicable laws prevalent from time to time
1. Undertaking letter to be obtained from the applicant and all
promoters/directors for disclosure of their names in the defaulter’s
CIBIL/ RBI and other
lists in the event of default on the part of the borrower as per RBI
conditions
guidelines
2. Undertaking letter to be obtained from the applicant (including the

Chiffonade Ventures Pvt. Ltd


Post-disbursement
Documents
Validity of sanction letter
Chiffonade Ventures Pvt. Ltd
directors) that their names does not furnish in the RBI caution list,
defaulters list, willful defaulters list, ECGC list and in CIBIL
3. The TCL will have the right to examine at all times, the company’s
books of accounts and to have the company’s Project sites
inspected from time to time, by Officer(s) of the TCL and / or
qualified auditors or concurrent auditors appointed by the TCL
and/or technical experts and/or management consultants or other
persons of the TCL’s choice
4. The company should maintain separate books and records which
should correctly reflect their financial position and scope of
operations and should submit to the bank / TCL at regular intervals
such statements as may be prescribed by the bank / TCL in terms of
RBI instructions issued from time to time
CA Certified End-use certificate to be taken clearly certifying the end use
of the funds as stated by the firm within 30 days from disbursement
Sanction is valid for a period of 90 days from the date of Offer letter
BRIEF BACKGROUND:

Autobahn ( brand) has been floated by Chiffonade Ventures Private Limited (start up) i.e. New
Fooding & Hotel Business as a private firm and was enlisted under Mumbai Shops &
Establishment Act by Ms. Tanushree Roy, Mrs. Hetal Swaroop Agaskar & Mr. Ritesh Kumar
Mohanty are the key person behind the day to day functioning and success of the business. The
Hotel is situated Phoenix Market City, Vimannagar.

List of Esteemed Investors includes Mr. Subhasis Kumar Roy, Mr. Swaroop Agaskar , Dr. Anil
Lamba & Chef. Sanjay Kak.

Promoters Background :-

Subhasis Roy:

An NRI business leader, based out of Kaula Lumpur with 25 years of domain knowledge in
sales and marketing, boht at national and international level from Sea, Mid East to latin America
with specialization in food and packaging industries.

A chemical engineer from NIT has initially worked with Tetra- Laval , a Swedish multinational
company and global leader in Food Processing for nearly 15 years and handled projects like
dairy plants, breweries, distilleries, vegetable oil refineries, processed food etc..,

For the past 14 years he has been working for BOBST SA which is regarded as global leader in
the field of folding carton ,corrugated board and flexible packaging industries.

Well known for his conceptual and strategic skills for the entire value chain of farm produce to
packaged food.

Swaroop Agaskar:

Leads the india office of KTGY- planning + architecture.

Brings more than 20 years of experience and technical expertise in the design and construction
of residential , mixed use , retail and hospitality projects.

Assocaited with the design of Sothe by restaurant ,NY, Vera Wang Suite, Halekulani Honolulu,
Grand Hyatt entrance and retail lobby, Chartered Hotel,Ahmedabad.

Hetal Agaskar:

Interior Deisgner, interior portfolio ranges from commercial to retail to residential.

Associated with Bindra’s Hospitality services, a leading food factory and restaurateur ensemble.

Successful started and runs “Tea Trials Café” in Pune..

Chef Sanjay Kak:

Chiffonade Ventures Pvt. Ltd

Presently the Director of culinary arts at the Indismart group of hotels and IIHM hotel Schools.

Over two decades of experience as a Chef at Taj Group of Hotels across various locations,
flight catering operations, standalone multiband group restaurants.

He did pioneering work in starting the new restaurant brands GLOBAL GRILL & CAFÉ
MEZZUNA.

Experience in multi brand food retail & product development, he is also a Founding member of
the “International Young Chef Olympiad “& leading member of the Technical Committee.

He has done product development for prestigious airlines such as United Airlines, Virgin
Atlantic, Cathay pacific, Singapore Airlines & Air India.

Dr. Anil Lamba:-

Bestselling author, financial literacy activist & International Corporate Trainer, Dr. Anil Lamba is
a practicing chartered Accountant & holds degrees in commerce, Law & a Doctorate in
Taxation.

His training programs are held internationally, with a client list exceeding 2000 large & medium-
sized corporations spread across several countries.

With over two decades of experience in training & consulting in finance, he has created &
developed 2 series of training videos, ‘Figure Out of the World of Figures’ & “Anil Lamba on
Finance” & has done pioneering work in distance education & e-learning.

Ritesh Kumar Mohanty:-

Has done Masters in Business Administration, IMI Kolkata & B-Tech in Electrical – BPUT
Rourkela, Odisha.

Has vast working experience in GVK MIAL, Bobst India, Thermax, Encotec Engineer.

Tanushree Roy:-

Has done Masters in Business Administration, IMI Kolkata & BSC in Microbiology in Pune
University.

Has vast working experience in Reliance Textiles, ITC Packaging Material for fruit & Serum
Institute of India.

Chiffonade Ventures Pvt. Ltd

Innovative Food Delivery System will be the 1st of its kind in India, after Singapore, Kuala
Lumpur, London & New York.
It’s a fully digital restaurant having Automatic Ordering Systems, Cashless Payments &
Automatic POS & Billing Systems.
Targeted Customers will be Mass market covering the whole age demographic &
psychographics.
Target income group will be Middle to High Income group.
Restaurant covering around 70 to 75 at a time customers with Semi Casual Dining.
Restaurant will be focusing on Efficiency, Maximum Space utilization, Less Food wastage, more
focus on Customer relationship management, Differentiation from Buffet, Can taste many
dishes, Hygiene conditions etc.

The backgrounds of the Directors are as follows:

Name Ms. Tanushree Roy

Father’s Name Subhasis Kumar Roy
Date Of Birth 30.04.1993
Address P1/602 Oxford Village, Near Kedari petrol Pump, Wanawadi , Pune
- 411040
Contact No. 9765715764

Name Mrs. Hetal Swaroop Agaskar

Father’s Name M.K.Mehta
Date Of Birth 14.06.1972
Address F-1104, Sylvania, Magarpatta City , Pune - 411029
Contact No.

Name Mr. Ritesh Kumar Mohanty

Father’s Name Debendra Kumar Mohanty
Date Of Birth 28.09.1987
Address F-15, Sector-7, Raurkela-3, Sundergarh, Odisha - 769003
Contact No. 8697479057

Share Holding Pattern as of 15/12/2017:

Chiffonade Ventures Pvt. Ltd

 Name of shareholders Existing %
No of
Shares
Tanshuree Roy 60000 60.00%
Ritesh Mohanty Kumar 10000 10.00%
Swaroop Agaskar 15000 15.00%
Hetal Agaskar 15000 15.00%

Total 100000

External ratings (if any): NA

Chiffonade Ventures Pvt. Ltd

Financial Analysis:

Sr. Parameters Projected Projected Projected Projected

No.
2018 2019 2020 2021
Number of months 12 12 12 12
1 Total Operating Income(TOI) 108.1 407.6 448.4 493.3
2 EBIDTA 20.4 85.9 91.9 105.5
3 E B I D T A/ TOI (%) 18.8% 21.1% 20.5% 21.4%
4 Interest 2.5 6.6 5.4 4.0
5 Depreciation 13.6 23.8 18.4 15.0
Operating Profit after Dep.&
6 4.3 55.5 68.1 86.5
Int.
7 Non Operating Income/Exps. 0.0 0.0 0.0 0.0
8 PBT 4.3 55.5 68.1 86.5
9 PAT 3.0 38.3 47.1 59.8
10 PAT/ TOI (%) 2.8% 9.4% 10.5% 12.1%
11 Net Cash Accruals (NCA) 16.6 62.1 65.4 74.8

12 Net Fixed Assets 151.1 127.4 109.0 94.0

13 Tangible Networth (TNW) 128.0 166.3 213.4 273.2

14 Exposure in Group Co./Sub.
--- Investments 0.0 0.0 0.0 0.0

Chiffonade Ventures Pvt. Ltd

 --- Loans and
0.0 0.0 0.0 0.0
Advances
15 Adjusted T N W (ATNW) 128.0 166.3 213.4 273.2
16 Quasi Equity 0.0 0.0 0.0 0.0
17 Long Term Debt (LTD) 72.6 65.0 56.2 45.9
18 Short Term Debt (STD) 0.0 0.0 0.0 0.0
19 Working Cap. Bank Finance 0.0 0.0 0.0 0.0
20 Financial guarantees 0.0 0.0 0.0 0.0
21 Total Debt 72.6 65.0 56.2 45.9
21 TOL 72.6 65.0 56.2 45.9
22 Total Debt/ ATNW 0.6 0.4 0.3 0.2
23 L T D / AT N W 0.6 0.4 0.3 0.2
24 TOL/TNW 0.6 0.4 0.3 0.2
25 TOL/ATNW 0.6 0.4 0.3 0.2
26 Total Current Assets 17.0 73.4 131.8 198.2
27 Total Current Liabilities 0.0 0.0 0.0 0.0
28 Net Working Capital 17.0 73.4 131.8 198.2
29 Current Ratio #DIV/0! #DIV/0! #DIV/0! #DIV/0!
30 R O C E (%) 4.0% 33.7% 33.3% 34.0%
31 Interest Coverage Ratio 7.8 10.4 13.1 19.8
32 Total Debt/Net Cash Accrual 4.4 1.0 0.9 0.6
33 Inventory Turnover days 0.0 0.0 0.0 0.0

Chiffonade Ventures Pvt. Ltd

 34 Debtors Turnover days 0.0 0.0 0.0 0.0
35 Creditors Turnover days 0.0 #VALUE! #VALUE! #VALUE!
36 DSCR (in case of term loan) 10.4 13.1 19.8

Revenue:
The company is expecting turn over of approx.. 108 lacs in 2018.

Creditors and Debtors:-

Since the restaurant would getting payment immediately from customers there would be no debtors.
Also the company would be paying money in advance to their supplier there would be no creditors.

Chiffonade Ventures Pvt. Ltd

Fund Based Limit: Rs in Crores
O/S bal
Name of the bank Facility Sanctioned
30/09/15
Working Capital Facility (including CF, CC etc)

Total Working Capital

0 0
facility

Term Loan
0 0
Total Term Loan 0 0
Total Banking Exposure 0 0

Reference Checks:

 Customers Reference: NA

The net worth of investors:-

1. .Subhasis Roy - Net worth - INR 5 cr

2. Mr. Swaroop Agaskar - Net worth - INR 1.8 cr

Equipment’s available as security:-

Sl Asset Name Asset Vendor details Description Attachment Name

No. Value (INR)
1. SL Large Sushi 2450808.37 Modu System, Conveyor chain used Final-SA CIE 17 138-
Conveyor System Malaysia in the dining area for Commercial Invoice
and Food Delivery conveying food on the
robot go and Robot for Ala-
carte
2. Imported items in 271909.00 HariOm Equipment like IMPORTED KITCHEN
kitchen Equipments, Pulverizer, Meat ITEMS_PI
Mumbai mincer, Buffalo
chopper, Pizza oven
3. 4 Door 911070.00 Middleby 4 Door ventilated PO_MIDDLEBYCELLFROST
Refrigerators and Cellfrost, refrigerators
Combi Oven Mumbai Ice Cream fridge
Combi oven

Chiffonade Ventures Pvt. Ltd

4. Kitchen equipment 2365652.00 HariOm Descrption is as per KITCHEN EQUIPMENT_PI
Equipments, attachment BAR EQUIPMENT_PI
Mumbai SS HOOD EQUIPMENT_PI
DRAINAGE
EQUIPMENT_PI
5. Tablets 368950.00 Asolute IT 31 tablets for TABLET_PI
Solutions, automatic ordering
Mumbai system

Chiffonade Ventures Pvt. Ltd

 Deviation Matrix:

Selection Parameter & Deviation Matrix

Sr. Deviation
Criteria Conditions Deviation authority Actual
No Y/N
Minimum 3 years
or Promoter
should be in Less than 3 yrs & upto 2
1 Vintage New Entity Y
similar line of yrs - RSM & RCM
business for 2
years
RBI
2 Positive CH & BH (*) Not appearing in list N
defaulters list
3 Dedupe Positive CH & BH (*) No match found Y
4 RCU/FI Positive NSM & NCM (**) NA N
Upto 84 months @ – BH &
5 Tenure Upto 60 months 60 Months N
CH
Positive for last Cash Profit for last two
6 PAT NA Y
three years years –NSM & NCM
Upto 0.9 times – NSM &
7 Current Ratio Upto 1.17 NA Y
NCM
Upto 5: RSM & RCM
8 TOL/TNW Upto 4 times NA Y
Upto 6: NCM & NSM
Credit card/Other
Overdues up to Rs 50000
& write off up to Rs 5000 –
All A/c Standard as
9 CIBIL check Positive CH & BH N
per latest report
Credit card/Other overdues
beyond Rs 50000 & write
off beyond Rs 5000 – COO
Maximum two Upto 4 - NCM &NSM
Bank inward Cheque Above 4 & upto 6 – CH &
10 NA Y
Statement bounces during BH
last 6 months More than 6 –COO

Proposed by:

Pankaj Kulkarni – ASE – Equipment Finance (Pune)

Recommended by:

Abhijeet Komawar – ASM – Equipment Finance (Pune)

Ravishankar Kadle – ACM – Equipment Finance (Pune)

Chiffonade Ventures Pvt. Ltd