MIRA INFORM REPORT

Report Date :

04.08.2011

IDENTIFICATION DETAILS

Name :	COMPACK FOAM PRIVATE LIMITED
Registered Office :	House No.669, Sector -15, Faridabad– 121002, Haryana, India.
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	29.04.2009
Com. Reg. No.:	55-039026
Capital Investment / Paid-up Capital :	Rs.21.000 Millions
CIN No.: [Company Identification No.]	U25190HR2009PTC039026
TAN No.: [Tax Deduction & Collection Account No.]	RTKC02648C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and exporter of disposable Food grade polystyrene foam dinnerware.
No. of Employees :	70 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 129628
Status :	New Company
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a new company establishing itself gradually. Trade relations are reported as fair. The company has achieved sizeable turnover in the year 2010-2011. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
India	A1	A1

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

INFORMATION PARTED BY

Name :	Mr. Atul K.
Designation :	Accountant
Contact No.:	91-9560533177
Date :	03.08.2011

LOCATIONS

Registered Office :	House No.669, Sector -15, Faridabad– 121002, Haryana, India.
Tel. No.:	91-129-2220078
Mobile No.:	91-9560533177 (Mr. Atul K). / 91-9811227687 (Mr. Shrwan Kumar Saraf)
E-Mail :	sagarwalrke@hotmail.com compack@compackfoam.co.in / compact_india@rediffmail.com
Location :	Owned
Factory :	Khasra No.111, Raipur Industrial Area, Bhagwanpur, Tehsil – Roorkee, Haridwar – 247667, Uttartakhand, India.
Tel. No.:	91-1332-235295
Location :	Leased

DIRECTORS

As On 25.10.2010

Name :	Mr. Anand Lal saraf
Designation :	Director
Address :	House – 22, Sector – 15, Faridabab – 121002 , Haryana, India.
Date of Birth/Age :	08.08.1974
Date of Appointment :	25.10.2010
DIN No.:	01541257
Name :	Mr. Sharwan Kumar Saraf
Designation :	Director
Address :	Village Chandpura, District M. Garh, Faridabad – 121002, Haryana, India
Date of Birth/Age :	15.05.1966
Date of Appointment :	25.10.2010
DIN No.:	01541250
Name :	Mr. Ravi Kandoi
Designation :	Director
Address :	2 Floor, Sitara Apartment, Ftorda Margao 403602, Goa, India
Date of Birth/Age :	25.06.1969
Date of Appointment :	29.04.2009
DIN No.:	00444029
Name :	Mr. Rajeev Kumar Saraf
Designation :	Director
Address :	Subhas Chowk, Main Road, Madhipura - 852113, India.
Date of Birth/Age :	09.06.1975
Date of Appointment :	14.07.2009
DIN No.:	01058997
Date of Ceasing :	14.07.2009

KEY EXECUTIVES

Name :	Mr. Atul K
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.10.2010

Names of Shareholders	No. of Shares
Mr. Ravi Kondoi	533334
Mr. Rajeev Kumar Saraf	3333
Mr. Anand Lal Saraf	533333
Mr.Shrawan Kumar Saraf	1060000
TOTAL	2130000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and exporter of disposable food grade polystyrene foam dinnerware.
Products :	Disposable Dinnerware, Foil Container, Foam Serving Trays, Thermocol Bowl, Foam Ham Burger Box.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

No. of Employees :

70 (Approximately)

Bankers :

• State Bank of India, Ranipur, Haridwar

• Syndicate Bank, Faridabad

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
State Bank Of India, Ranipur, Haridwar –Term Loan	58.759	0.000
Total	58.759	0.000
Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
From Company Under same Management	0.800	0.000
Total	0.800	0.000

Banking Relations :	--
Financial Institute :	SREI Equipments Finance Private Limited
Auditors :	S Agarwal And Associates
Name :	Chartered Accountant
Address :	1^St Floor Hari Singh Market, B S M Chowk, Roorkee – 247667, Uttatakhand, India.
PAN.:	ACFPA7374Q
Tel No. :	91-1332-260287

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
4,000,000	Equity Shares	Rs.10/- each	Rs.40.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,130,000	Equity Shares	Rs.10/- each	Rs.21.300 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		21.300
2] Share Application Money		12.700
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(1.593)
NETWORTH		32.407
LOAN FUNDS
1] Secured Loans		58.759
2] Unsecured Loans		0.800
TOTAL BORROWING		59.558
DEFERRED TAX LIABILITIES		1.375
TOTAL		93.340
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		80.165
Capital work-in-progress		0.463
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.112
	Sundry Debtors	0.067
	Cash & Bank Balances	29.528
	Other Current Assets	0.000
	Loans & Advances	3.299
Total Current Assets		36.006
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	23.308
	Other Current Liabilities	0.000
	Provisions	0.015
Total Current Liabilities		23.323
Net Current Assets		12.683
MISCELLANEOUS EXPENSES		0.029
TOTAL		93.340

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010
	TOTAL INCOME		0.069
Less	Total EXPENSES
		TOTAL	0.224
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		(0.155)
Less/ Add	DEPRECIATION/ AMORTISATION		0.063
	PROFIT BEFORE TAX		(0.218)
Less	TAX		1.375
	PROFIT AFTER TAX		(1.593)
	Earnings Per Share (Rs.)		0.75

Expected Sales ( 2010-2011) : Rs.58.000 Millions

The above information has been parted by Mr. Atul K.

KEY RATIOS

PARTICULARS		31.03.2010
PAT / Total Income	(%)	(2308.70)
Return on Total Assets (PBT/Total Assets}	(%)	0.0017
Return on Investment (ROI) (PBT/Networth)		0.007
Debt Equity Ratio (Total Liability/Networth)		0.72
Current Ratio (Current Asset/Current Liability)		1.54

LOCAL AGENCY FURTHER INFORMATION

Trade Reference

· S.N. Food, Punjab

· Vinod Agencies

· Zoom Icecream

Form 8

Corporate identity number of the company	U25190HR2009PTC039026
Name of the company	COMPACK FOAM PVT LTD
Address of the registered office or of the principal place of business in India of the company	House No. 669, Sector- 15, Faridabad-121002, Haryana, India. e-mail Id : sagarwalrke@hotmail.com
This form is for	Creation of change
Type of charge	Movable property
Particular of charge holder	SREI Equipment Finance private Limited. Vishwakarma, 86C, Topsia Road, Kolkata-700046, West Bengal, India. e-mail ID : secretarial@srei.com
Nature of instrument creating charge	Deed of Hypothecation
Date of instrument Creating the charge	05.06.2011
Amount secured by the charge	Rs.10.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 13.98% per annum Terms of Repayment Amount repayable in 34 no. monthly installments of Rs.0.362 Millions each. Margin NIL. Extent and operation of charge As per Deed of Hypothecation.

Fixed Assets

• Freehold Land Building
• Plant and Machinery
• Electric Installation
• Office Equipments
• Furniture and Fixtures
• Computer and Peripherals
• Vehicle
• Mobile

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.44.38
UK Pound	1	Rs.72.21
Euro	1	Rs.62.87

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
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	2
--CREDIT LINES	1~10	2
--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		26

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.