MIRA INFORM REPORT

Report Date :

12.12.2011

IDENTIFICATION DETAILS

Name :	MILLENIUM PAPIER (INDIA) PRIVATE LIMITED
Registered Office :	83/2, G N T Road, Near Moolakadai J Erukencherry, Chennai – 600 079, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	20.12.1999
Com. Reg. No.:	18-43797
Capital Investment / Paid-up Capital :	Rs.1.801 Millions
CIN No.: [Company Identification No.]	U21093TN1999PTC043797
TAN No.: [Tax Deduction & Collection Account No.]	CHEM06611D
PAN No.: [Permanent Account No.]	AAACM0047Q
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Importer and Exporter of all kinds of Paper and Paper Boards.
No. of Employees :	Not Available

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 64000
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 business dealings with slight 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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/Head Office/Factory :	83/2, G N T Road, Near Moolakadai J Erukencherry, Chennai – 600 079, Tamilnadu, India
Tel. No.:	91-44-25387443 / 25593682 / 83 / 85 / 23465228
Fax No.:	91-44-25368536 / 25595573 / 25248851 / 5
E-Mail :	million@vsnl.com kpkchennai@yahoo.co.in knpchennai@gmail.com
Website :	http://www.millionindia.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Praveen Mohanlal Kumar

Designation :

Director

Address :

25 -B, EVK Sampath Road, Veperx, Chennai – 600007, Tamilnadu, India

Date of Birth :

02.03.1975

Date of Appointment :

20.12.1999

DIN or Income-tax PAN :

02037556

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U21093TN1999PTC043797	Millennium Papier (India) Private Limited	Director	20-12-99	20-12-99	-	Active	NO
2	U70102TN2008PTC068672	Million Foundation Private Limited	Director	25-07-08	25-07-08	-	Active	NO

Name :

Ms. Anjana Dinesh Kumar

Designation :

Director

Address :

No. 97, Vepery High Road, Vepery, Chennai – 600007, Tamilnadu, India

Date of Birth :

14.06.1969

Date of Appointment :

20.12.1999

DIN or Income-tax PAN :

02037510

Name :

Mr. Madhu Kirankumar

Designation :

Director

Address :

25/1, EVK Sampath Road, Veperx, Chennai – 600007, Tamilnadu, India

Date of Birth :

01.02.1966

Date of Appointment :

20.12.1999

DIN or Income-tax PAN :

01894464

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
D Anjana	9760
K Madhu	24260
M Praveen Kumar	12130
K. Mona	20
K. Priyanka	10
K. Siddharth	1420
K. Surabhi	210
M Dinesh Kumar	4000
M. Kavitha Kumar	100
V Mohanlal Jain	54000
V Mohanlal Jain HUF	4000
M Dinesh Kumar Jain (HUF)	10
M. Kiranraj Jain	10
M. Kiranraj Jain (HUF)	10
M Praveen Kumar Jain (HUF)	10
P. Anju	2090
P. Suraj Devi	68010
D. Megha Benefit Trust, India	10
D. Sakshi Benefit Trust, India	10
K. Siddharth Benefit Trust, India	10
D. Shagun Benefit Trust, India	10
Mehak P Benefit Trust, India	10
Panalal Ranka	10
Total	180110

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage of Holding
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Importer and Exporter of all kinds of Paper and Paper Boards.
Products :	· All kinds of Coated Paper · Coated Paper Board · Packaging Board · Label Stock Products · Platinum Solventless Release Liner · Self Adhesive Labels · Bar Code Ribbon · Business Cards · Visiting Cards · Taffeta and Satin Ribbon · Bar Code Labels and Accessories

PRODUCTION STATUS (As on 31.03.2010)

Particulars	Unit	Installed Capacity	Actual Production
Self Adhesive Label Stock Paper	Sq. Mtr.	680000	676152.60
Tag Board from Card Board	Sq. Mtr.	2300	2293.00
Release Paper	Kgs.	13000	12867.70
Job work Charges	Rolls	600	528.00
Self Adhesive Stock	Sq. Mtr.	3000	663.00
Self Adhesive Label Sheet	Nos.	5000	4570.00
Plain Printed Die Cut plastic Label	Thous	-	-
Visiting Card (P)	Thous	7000	6428.80
Printed Rolls	Nos.	-	-
Plain printed Die Cut Paper Label	Thous	13000	12721.80
Tape Fabric Side Adhesive	Sq. Mtr	-	-
Computer Label Stock	Pkt	100	-
Visiting (S)	Thous	300	212.80
Adhesive Tape Gummed	Rolls	-	-
Release Paper	Mtr.	28000	27000.00
Self Adhesive	Mtr.	46000	45000.00
Self Adhesive plain Labels	Thous	6000	5551.56
Release Paper (Film)	Sq. Mtr.	31000	30546.000
Self Adhesive Stock	Nos.	34000	33120.00
Coated Tag Board	Sq. Mtr	63000	62505.00
Release paper	Rolls	700	641.00
Thermal Rolls	Rolls	300	212.00
Polyster Block Film	Sq. Mtr.	10000	9895.00

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· The South Indian Bank Limited, George Town Branch, 64 Armenian Street, Chennai – 600001, Tamilnadu

· ICICI Bank

· Citi Bank N.A., No.2, Clubhouse Road, Anna Salai, Chennai – 600 002, Tamilnadu, India

· Indian Overseas Bank

Facilities :

Secured Loans :	As on 31.03.2011 Rs. in Millions	As on 31.03.2010 Rs. in Millions
From Banks
Short Term Loan – From Banks	5.030	0.000
Working Capital Loan from Schedule Banks City Bank A/C No. 342942008 (secured by hypothecation of Fully Paid stock and Export Receivables and First Charge on Fixed Assets of the company)	4.460	8.752
Total	9.490	8.752

Unsecured Loans :	As on 31.03.2011 Rs. in Millions	As on 31.03.2010 Rs. in Millions
From Directors	2.414	3.890
From Shareholders	10.539	6.923
Total	12.953	10.813

Banking Relations :	--
Auditors :
Name :	J Raj and Company Chartered Accountants
Address :	77 Narayana Mudali Street, First Floor Sowcarpet, Chennai – 600079, Tamilnadu, India
PAN No.:	AACPJ9325R

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
180110	Equity Shares	Rs.10/- each	Rs.1.801 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		1.801	1.801	1.801
2] Share Application Money		0.000	0.001	0.001
3] Reserves & Surplus		14.221	13.889	13.544
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		16.022	15.691	15.346
LOAN FUNDS
1] Secured Loans		9.490	8.752	8.509
2] Unsecured Loans		12.953	10.812	10.555
TOTAL BORROWING		22.443	19.564	19.064
DEFERRED TAX LIABILITIES		0.268	0.295	0.315
TOTAL		38.733	35.550	34.725
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		10.604	11.321	11.349
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	17.057	12.075	14.748
	Sundry Debtors	12.490	11.287	7.257
	Cash & Bank Balances	0.859	0.416	0.911
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.890	2.741	3.624
Total Current Assets		32.296	26.519	26.540
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.110	1.334	2.511
	Other Current Liabilities	0.881	0.802	0.552
	Provisions	0.176	0.154	0.101
Total Current Liabilities		4.167	2.290	3.164
Net Current Assets		28.129	24.229	23.376
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		38.733	35.550	34.725

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	48.035	42.175	31.864
		Other Income	NA	NA	0.741
		TOTAL	NA	NA	32.605
Less	EXPENSES
		TOTAL	NA	NA	31.899
	PROFIT BEFORE TAX		0.483	0.477	0.706
Less	TAX		0.332	0.343	0.280
	PROFIT AFTER TAX		0.151	0.134	0.426
	EARNINGS IN FOREIGN CURRENCY		0.972	2.819	1.782
	IMPORTS
		Raw Materials	NA	21.006	19.831
		Capital Goods	NA	0.924	0.152
	TOTAL IMPORTS		NA	21.930	19.983
	Earnings Per Share (Rs.)		0.84	0.74	2.37

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	NA	1.31
Net Profit Margin (PBT/Sales)	(%)	1.01	1.13	2.28
Return on Total Assets (PBT/Total Assets}	(%)	1.13	1.26	1.86
Return on Investment (ROI) (PBT/Networth)		0.03	0.03	0.05
Debt Equity Ratio (Total Liability/Networth)		1.66	1.39	1.45
Current Ratio (Current Asset/Current Liability)		7.75	11.58	8.39

LOCAL AGENCY FURTHER INFORMATION

NOTE:

The registered office of the company has been shifted from No.32, Perumal Mudali Street, Sowcorpet, Chennai – 600 079, Tamilnadu to the present address w.e.f. 15.02.2005.

FORM 8:

Corporate identity number of the company	U21093TN1999PTC043797
Name of the company	MILLENIUM PAPIER INDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	83/2, G N T Road, Near Moolakadai J Erukencherry, Chennai – 600 118, Tamilnadu, India kpkchennai@yahoo.co.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10180432
Type of charge	Book debts Movable property (not being pledge)
Particular of charge holder	Citi Bank N.A., No.2, Clubhouse Road, Anna Salai, Chennai – 600 002, Tamilnadu, India kpkchennai@yahoo.co.in
Nature of instrument creating charge	1.Business loan Agreement. 2.Amendatory Agreement. 3.Deed of Hypothecation.
Date of instrument Creating the charge	26.03.2010
Amount secured by the charge	Rs.24.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest As stipulated by the Bank from time to time. Currently AROD-11% & WCDL -10% Terms of repayment As stipulated by the Bank from time to time. Margin As stipulated by the Bank from time to time. Extent and operation of the charge As per Agreements
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Exclusive charge on present and future stocks of raw materials, goods-in-process, semi finished goods, stores, components and spares. Exclusive charge on present and future book debts, o/s monies, receivables, claims and bills.
Particulars of the present modification	By the present modification the overall limits has been enhanced from Rs.1,20,00,000 to Rs.2,45,00,000.All other terms and conditions of the original charge remain unaltered.

FIXED ASSETS:

· Computers

· Electrical Fittings

· Plant and Machinery

· Furniture and Fittings

· Office Equipments

· Vehicles

· Land 

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.52.23
UK Pound	1	Rs.81.55
Euro	1	Rs.69.60

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	YES
--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.