BUSINESS INFORMATION REPORT

1. Summary Information

			Country	INDIA
Company Name		DIPIKA POLYMERS PRIVATE LIMITED	Principal Name 1	MR. RAKESH KUMAR JAIN
Status		MODERATE	Principal Name 2	MR. ANISH R. SHAH
			Registration #	55-140370
Street Address		G – 72, KIRTI NAGAR, NEW DELHI – 110 015
Established Date		05.09.2005	SIC Code	--
Telephone#		91-11-45061900	Business Style 1	MANUFACTURER
Fax #		91-11-45061922	Business Style 2	EXPORTER
Homepage		--	Product Name 1	PLASTIC RAW MATERIALS
# of employees		--	Product Name 2
Paid up capital		Rs.6,345,000/-	Product Name 3
Shareholders		BODIES CORPORATE-30.00% DIRECTORS OR RELATIVES OF DIRECTORS-70.00%	Banking	HDFC BANK LIMITED
Public Limited Corp.		NO	Business Period	5 YEARS
IPO		NO	International Ins.	--
Public Enterprise		NO	Rating	B (28)
Related Company
Relation	Country		Company Name	CEO
--	--		--	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2009		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	172,637,000	Current Liabilities	155,613,000
Inventories	109,557,000	Long-term Liabilities	100,671,000
Fixed Assets	1,489,000	Other Liabilities	1,016,000
Deferred Assets	0,000	Total Liabilities	257,300,000
Invest& other Assets	123,000	Retained Earnings	20,161,000
		Net Worth	26,506,000
Total Assets	283,806,000	Total Liab. & Equity	283,806,000
Total Assets (Previous Year)	150,080,000
P/L Statement as of	31.03.2009		(Unit: Indian Rs.)
Sales	495,263,000	Net Profit	1,687,000
Sales(Previous yr)	398,168,000	Net Profit(Prev.yr)	1,497,000

MIRA INFORM REPORT

Report Date :

29.04.2011

Note:

The registered office of the company has been shifted from E – 5, Mansarover Garden, New Delhi – 110 015 to the present address w.e.f. 01.08.2009.

IDENTIFICATION DETAILS

Name :	DIPIKA POLYMERS PRIVATE LIMITED
Registered Office :	G – 72, Kirti Nagar, New Delhi – 110 015
Country :	India
Financials (as on) :	31.03.2009
Date of Incorporation :	05.09.2005
Com. Reg. No.:	55-140370
CIN No.: [Company Identification No.]	U25202DL2005PTC140370
TAN No.: [Tax Deduction & Collection Account No.]	DELD09171B
PAN No.: [Permanent Account No.]	AAEFD9794N
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of all kinds of Plastic Raw Materials.

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 106000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

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

LOCATIONS

Registered Office :	G – 72, Kirti Nagar, New Delhi – 110 015, India
Tel. No.:	91-11-45061900
Fax No.:	91-11-45061922
E-Mail :	tina_deepika0809@yahoo.com mayor@drinternational.com
Factory :	B – 96, Phase – II, Noida, Uttar Pradesh
Tel No.:	91-120-2562759

DIRECTORS

As on 25.09.2010

Name :	Mr. Rakesh Kumar Jain
Designation :	Director
Address :	224, Shiv Ganj, Ward No.19, District Sirohi, Rajasthan, India
Date of Birth/Age :	06.05.1984
Date of Appointment :	05.09.2005
DIN No.:	01086095
Name :	Mr. Anish R. Shah
Designation :	Director
Address :	A-65, Ramesh Nagar, New Delhi – 110 015, India
Date of Birth/Age :	03.06.1976
Date of Appointment :	05.09.2005
DIN No.:	00690736
Name :	Mr. Rohit Bhanwar Lal Jain
Designation :	Director
Address :	GB – 22, Shivaji Enclave, New Delhi – 110 027, India
Date of Birth/Age :	15.03.1983
Date of Appointment :	05.05.2009
DIN No.:	00626369

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.09.2010

Names of Shareholders	No. of Shares
Rakesh Kumar Jain	4000
Munny Jain	3000
Anish R. Shah	3000
Raman Kumar Kapur	37500
Mona Jain	110000
Rajeev Prakash Jain	40000
Varun Jain	15000
Jainendra Prakash Jain	35000
Narendra Prakash Jain	50000
Abhishek Jain	30000
Ravinder Prakash Jain	5000
Arihant Classic Finance Limited, India	302000
Rohit Jain	359375
Total	993875

As on 25.09.2010

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	30.00
Directors or relatives of directors	70.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of all kinds of Plastic Raw Materials.

GENERAL INFORMATION

Bankers :

• HDFC Bank Limited, 9^th Floor, Ansal Classique Tower, Rajouri Garden, New Delhi – 110 027, India
• Centurion Bank of Punjab Limited, J-2/4, Rajouri Garden, New Delhi – 110 027, India
• ING Vysya Bank Limited, 55, Ground Floor, West Avenue Road, Punjabi Bagh, New Delhi – 110 026, India
• Citibank N.A., Jeevan Vihar, 3, Sansad Marg, New Delhi – 110 001, India

Facilities :

Secured Loans	31.03.2009 Rs. In Millions	31.03.2008 Rs. In Millions
Auto Car India (Skoda Loan)	0.519	0.988
Centurion Bank of Punjab Limited (HDFC Bank)	23.217	12.876
Citi Bank-0325262001	13.554	46.120
Total	37.290	59.984

Unsecured Loans	31.03.2009 Rs. In Millions	31.03.2008 Rs. In Millions
Loan from Shareholders and Body Corporates	63.381	43.592
Total	63.381	43.592

Banking Relations :	--
Auditors :
Name :	Chander Prakash and Company Chartered Accountants
Address :	207, Padma Tower – II, 22 Rajendra Place, New Delhi – 110 008, India
Tel. No.:	91-11-25731059/ 25731060/ 41539570
Mobile No.:	91-9810056108
Fax No.:	91-11-25741070
E-Mail :	ca@chanderparkash.com

CAPITAL STRUCTURE

As on 25.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
993875	Equity Shares	Rs.10/- each	Rs.9.939 millions

As on 31.03.2009

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
634500	Equity Shares	Rs.10/- each	Rs.6.345 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2009	31.03.2008	31.03.2007
SHAREHOLDERS FUNDS
1] Share Capital		6.345	6.345	0.725
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		20.161	18.477	2.306
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		26.506	24.822	3.031
LOAN FUNDS
1] Secured Loans		37.290	59.984	34.949
2] Unsecured Loans		63.381	43.592	79.285
TOTAL BORROWING		100.671	103.576	114.234
DEFERRED TAX LIABILITIES		0.025	0.000	0.000
TOTAL		127.202	128.398	117.265
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.489	1.953	0.040
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.038	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	109.557	66.583	40.990
	Sundry Debtors	139.911	50.020	53.517
	Cash & Bank Balances	3.495	21.144	3.341
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	29.231	10.228	21.913
Total Current Assets		282.194	147.975	119.761
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	92.404	8.991	0.006
	Other Current Liabilities	63.209	11.988	2.295
	Provisions	0.991	0.703	0.278
Total Current Liabilities		156.604	21.682	2.579
Net Current Assets		125.590	126.293	117.182
MISCELLANEOUS EXPENSES		0.123	0.114	0.043
TOTAL		127.202	128.398	117.265

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2009	31.03.2008	31.03.2007
	SALES
		Sales / Turnover	495.263	398.168	148.391
		Other Income	0.000	0.000	0.000
		TOTAL	495.263	398.168	148.391
Less	EXPENSES
		Office Expenses	492.522	396.006	147.604
		Administrative Expenses
		Advertising Expenses
		TOTAL	492.522	396.006	147.604
	PROFIT BEFORE TAX		2.741	2.162	0.787
Less	TAX		1.054	0.665	0.278
	PROFIT AFTER TAX		1.687	1.497	0.509
	IMPORTS
		Raw Materials	0.000	0.000	0.000
		Trading Goods	458.005	383.466	177.582
	TOTAL IMPORTS		458.005	383.466	177.582
	Earnings Per Share (Rs.)		2.66	2.36	50.09

KEY RATIOS

PARTICULARS		31.03.2009	31.03.2008	31.03.2007
PAT / Total Income	(%)	0.34	0.38	0.34
Net Profit Margin (PBT/Sales)	(%)	0.55	0.54	0.53
Return on Total Assets (PBT/Total Assets}	(%)	0.97	1.00	0.66
Return on Investment (ROI) (PBT/Networth)		0.10	0.09	0.26
Debt Equity Ratio (Total Liability/Networth)		9.71	5.05	38.54
Current Ratio (Current Asset/Current Liability)		1.80	6.82	46.44

LOCAL AGENCY FURTHER INFORMATION

FORM 8:

Corporate identity number of the company	U25202DL2005PTC140370
Name of the company	DIPIKA POLYMERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	G – 72, Kirti Nagar, New Delhi – 110 015, India E-Mail: bhanwar@drinternational.com
This form is for	Creation of charge
Type of charge	Book Debts Floating Charge Others (Hypothecation of Stock)
Particular of charge holder	ING Vysya Bank Limited, 55, Ground Floor, West Avenue Road, Punjabi Bagh, New Delhi – 110 026, India E-Mail: cms@companiesinn.com
Nature of description of the instrument creating or modifying the charge	General Hypothecation Agreement.
Date of instrument Creating the charge	24/07/2010
Amount secured by the charge	Rs.22.500 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: OD-SIT/BD: IVBR+3.75 % p.a. LC: Commission-1.0% p.a. and nil on counter guarantee. Buyers credit (Sub limit to LC) :Commission 100 bps LEF (Sub limit to OD-SIT/BD): As per treasury rates. Terms of Repayment: OD-SIT/BD: On Demand LC: On Demand Buyers credit (Sub limit to LC): On Demand LEF(Sub limit to OD-SIT/BD): On Demand Margin: OD-SIT/BD: 25% on stocks and 35% on book debts. LC : Cash margin-10% Buyers credit (Sub limit to LC) : 10% LEF(Sub limit to OD-SIT/BD) : Nil Extent and Operation of the charge: Pari passu charge on all stock containing different graded of polymers along with HDFC Bank and Citi Bank. Pari passu charge on all the book debts of the company with HDFC Bank and Citi Bank.
Short particulars of the property charged	All stock containing different grades of polymers stored at A-23 Rama, New Delhi-110015 or any where else from time to time. All the book debts of the company both present and future.

Corporate identity number (CIN) Foreign company registration number	U25202DL2005PTC140370
Name of the Company	DIPIKA POLYMERS PRIVATE LIMITED
Address	E – 5, Mansarover Garden, New Delhi – 110015, India
This form is for	Creation of Charge
Type of Charge	Book debts Movable Property (Not being pledge) Stocks, Current and Fixed Assets
Particulars of the charge holder	Centurion Bank of Punjab Limited J-2/4, Rajouri Garden, New Delhi – 110027, India CIN: L65191GA1994PLC001620 Reminder.singh@centurionbop.co.in
Nature or description of the instrument(s) creating or modifying the charge	Agreement of Hypothecation of Goods, Vehicles, Plant and Machinery, Stocks and Book debts date :28.06.2007
Date of the instrument creating or modifying the charge	28.06.2007
Amount secured by the charge	Rs.122.500 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest: Interest as per Bank Norms Terms of repayment: Repayment as per Bank Norms Margin: Margin as per Bank Norms Extent and operation of the charge: The charge operate as continuing security inter alias, for the due repayment by the company to the Bank to the extent of Rs.122.500 Millions together with interest, additional interest, liquidated damages, premia on repayment costs, charge, expenses and all other moneys payable by the company to the Bank in terms of the loan agreements and Bank norms from time to time. Property in col.14 is hypothecated inter alias to the Bank as and by way of first pari passu charge.
Short particulars of the property charged (including location of the property)	First Pari passu charge on stocks and book debts and other chargeable assets of the company and entire current assets and fixed assets of the company except those specifically hypothecation to other Bankers/ Financial institutions is to Rs.122.500 Millions.

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	Indian Rupees
US Dollar	1	Rs.44.33
UK Pound	1	Rs.74.14
Euro	1	Rs.65.78

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		28

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.