MIRA INFORM REPORT

Report Date :

16.11.2011

IDENTIFICATION DETAILS

Name :	SHRIJIKRUPA POLYPACK PRIVATE LIMITED
Registered Office :	S. No. 26/1ps, Rajpar Road, Near Ramdevpir Temple, Shakat Shanala-363641, Gujarat
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	11.12.2009
Com. Reg. No.:	058842
Capital Investment / Paid-up Capital :	Rs.0.300 million
CIN No.: [Company Identification No.]	U25200GJ2009PTC058842
TAN No.: [Tax Deduction & Collection Account No.]	RKTS06794E
PAN No.: [Permanent Account No.]	AANCS6274L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and exporter of cement bags, plastic packaging bags, HDPE woven sacks, packaging bags, etc.
No. of Employees :	150 Approximately

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 19540
Status :	New Company
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a new company establishing itself gradually. Trade relations are reported as fair. Business is active. Payments are unknown. 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 – 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

INFORMATION PARTED BY

Name :	Mr. Nitin Patel
Designation :	Director
Contact No.:	91-9879234491
Date :	14.11.2011

LOCATIONS

Registered Office/ Factory :	S. No. 26/1ps, Rajpar Road, Near Ramdevpir Temple, Shakat Shanala-363641, Gujarat, India
Tel. No.:	91-2822-230099
Mobile No.:	91-9879234491 (Mr. Nitin Patel)
E-Mail :	nitinpatel5193@gmail.com
Area :	5500 sq. ft. (owned)

DIRECTORS

AS ON 30.12.2010

Name :	Mrs. Shardaben Dayalal Patel
Designation :	Director
Address :	Umiya Nagar, District Rajkot, Morbi-363641, Gujarat, India.
Date of Birth/Age :	17.09.1955
Date of Appointment:	11.12.2009
DIN No.:	02838323

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	U25200GJ2009PTC058842	Shrijikrupa Polypack Private Limited	Director	11/12/2009	11/12/2009	-	Active	NO

Name :	Mr. Nitinbhai Harijivanbhai Barasara
Designation :	Director
Address :	At. Nesda Khanpar, TA. Morbi-363642, District Rajkot, Gujarat, India.
Date of Birth/Age :	08.07.1987
Date of Appointment:	11.12.2009
DIN No.:	02838379

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	U25200GJ2009PTC058842	Shrijikrupa Polypack Private Limited	Director	11/12/2009	11/12/2009	-	Active	NO

Name :	Mrs. Lataben Pramod Patel
Designation :	Director
Address :	Akshardham Apartment, Block No. 12, Ravapar Road, Morbi-363641, Gujarat, India.
Date of Birth/Age :	15.06.1977
Date of Appointment:	11.12.2009
DIN No.:	01935045

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	U27101GJ2006PTC048167	Sunshine Fasteners Private Limited	Director	21/04/2006	21/04/2006	-	Active	NO
2	U26914GJ1996PTC029963	Varmora Ceramics Private Limited	Director	30/09/2008	08/12/2007	-	Active	NO
3	U25200GJ2009PTC058842	Shrijikrupa Polypack Private Limited	Director	11/12/2009	11/12/2009	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.12.2010

Names of Shareholders	No. of Shares
Shardaben Dayalal Patel	21000
Nitinbhai Harijivanbhai Barasara	1500
Lataben Pramod Patel	1500
Shantilal Pramod Patel	1500
Vijaykumar Dayalal Patel	1500
Bhanuben Harijivanbhai Barasara	1500
Pradipkumar H. Varmora	1500
Total	30000

AS ON 30.12.2010

Equity Share Breakup		Percentage of Holding
Category
Directors or relatives of directors		100.00
	Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and exporter of cement bags, plastic packaging bags, HDPE woven sacks, packaging bags, etc.
Products :	PP and HDPE Woven Fabrics (All Type) Cement Bags Fertilizer Bags
Exports :
Countries :	Dubai
Terms :
Selling :	Cash, Credit (30 Days)
Purchasing :	Cash, Credit (30 Days)

GENERAL INFORMATION

Customers :	· Wholesaler · Retailers
No. of Employees :	150 Approximately
Bankers :	The Co-Operative Bank of Rajkot Limited, Sahakar Sadan, 1, Kalika Plot, Ravapar Road, Morbi-363641, Gujarat, India. HDFC Bank, Branch Ravapar Road, Morbi, Gujarat, India.

Banking Relations :	--
Auditors :
Name :	D G Hadiyal and Associates Chartered Accountant
Address:	1^st Floor, Shakti Complex, Nr. Dr. Rupala Hospital, 16 Savsar Plot, Morbi 363641, Gujarat, India

CAPITAL STRUCTURE

AS ON 30.12.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
1750000	Equity Shares	Rs.10/- each	Rs.17.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30000	Equity Shares	Rs.10/- each	Rs.0.300 million

FINANCIAL DATA

[all figures are in Rupees Millions]

Particulars	31.03.2011
Sales Turnover (Approximately)	70.000

Expected Sales (2011-12): Rs.120.000 Millions.

The above information has been parted by Mr. Nitin Patel

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.300
2] Share Application Money		4.585
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		4.885
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		4.885
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.955
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	1.646
	Other Current Assets	0.000
	Loans & Advances	0.240
Total Current Assets		1.886
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.012
	Other Current Liabilities	0.000
	Provisions	0.010
Total Current Liabilities		0.022
Net Current Assets		1.864
MISCELLANEOUS EXPENSES		0.066
TOTAL		4.885

KEY RATIOS

PARTICULARS	31.03.2010
Debt Equity Ratio (Total Liability/Networth)	0.00
Current Ratio (Current Asset/Current Liability)	85.72

LOCAL AGENCY FURTHER INFORMATION

FINANCIAL RESULTS

The company was incorporated on dated 11-12-2009 and has not carried out any commercial activates during the year under report. In view of no activates during the year, the directors do not recommend any dividend.

TRADE REFERENCES:

• Kishan Cement
• Mega Cement

Bankers Charges Report as per Registry

This form is for	Modification of charge
Charge identification number of the modified	10223744
Corporate identity number of the company	U25200GJ2009PTC058842
Name of the company	SHRIJIKRUPA POLYPACK PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	S. No. 26/1ps, Rajpar Road, Near Ramdevpir Temple, Shakat Shanala-363641, Gujarat, India
Type of charge	Book Debts Movable Property (not being pledge)
Particular of charge holder	The Co-Operative Bank of Rajkot Limited, Sahakar Sadan, 1, Kalika Plot, Ravapar Road, Morbi-363641, Gujarat, India.
Email	svp_rajbank@yahoo.com
Nature of description of the instrument creating or modifying the charge	1) Hypothecation of Goods, Book-Debts for Cash Credit and/or OD, 2) Hypothecation of Plant and Machineries.
Date of instrument Creating the charge	10.06.2010
Amount secured by the charge	Rs.35.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest 12.5 % Terms of Repayment C/C : On demand, M/Loan : 60 EMIs of Rs. 568750- each. Margin As per Bank Rules Extent and Operation of the charge First Charge of Bank
Short particulars of the property charged	Hypothecation of all stocks including r/m, semi-finished and finished goods, book-debts, all current assets, all plant and machineries, present and future
Particulars of the present modification	The credit facilities of Rs. 35.000 millions (Machinery Loan Rs. 25.000 millions and C.C. Rs. 10.000 millions) is primarily secured against Goods, Book-Debts, Plant and Machineries of the Company.

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter's background	--
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years
12) Profitability for last three years	--
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	--
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

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.50.56
UK Pound	1	Rs.80.30
Euro	1	Rs.68.79

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
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	NO
--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		27

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	Be	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Be	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	Be	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.