MIRA INFORM REPORT

Report Date :

13.10.2011

IDENTIFICATION DETAILS

Name :	MASS PACKSOLS PRIVATE LIMITED
Registered Office :	9, Kalapi Avenue, First Floor, B/H, Malhar Point, Opposite Vaccine Institute, Old Padra Road, Vadodara-390015, Gujarat
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	20.11.2009
Com. Reg. No.:	04-058639
Capital Investment / Paid-up Capital :	Rs.0.150 Million
CIN No.: [Company Identification No.]	U25202GJ2009PTC058639
TAN No.: [Tax Deduction & Collection Account No.]	BRDM03719C
PAN No.: [Permanent Account No.]	AAGCM2481A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Supplier of Boxes, Cartoons with Printing and Packaging Services.
No. of Employees :	125 [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 600
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.

INFORMATION PARTED BY

Name :	Mr. Mahesh
Designation :	Accountant
Contact No.:	91-265-6622511
Date :	13.10.2011

LOCATIONS

Registered Office :	9, Kalapi Avenue, First Floor, B/H, Malhar Point, Opposite Vaccine Institute, Old Padra Road, Vadodara-390015, Gujarat, India
Tel. No.:	91-265-6622511/2324156
Fax No.:	91-265-6623311
E-Mail :	info@masspacksols.com massconstruction@hotmail.com nasta910@yahoo.com
Website :	http://www.masspacksols.com
Area :	Owned
Factory :	Survey 236, Opposite Gandhara Sugar Factory, Vadodara-390015, Gujarat, India

DIRECTORS

As on 19.09.2011

Name :

Mr. Arvindbhai Madhubhai Patel

Designation :

Managing Director

Address :

Soni Khadki, At P.O. Bhaili, District Vadodara-391410, Gujarat, India

Date of Birth/Age :

04.12.1957

Date of Appointment :

20.11.2009

Din No.:

00367968

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U45209GJ2002PTC040369	MASS INFRASTRUCTURE PRIVATE LIMITED	Managing director	02-09-08	16-05-05	Active	NO
2	U45201GJ2009PTC057159	MARK PROCON PRIVATE LIMITED	Director	04-06-09	04-06-09	Active	NO
3	U51109GJ2009PTC057160	MAPPS EXIM PRIVATE LIMITED	Director	04-06-09	04-06-09	Active	NO
4	U25202GJ2009PTC058639	MASS PACKSOLS PRIVATE LIMITED	Director	20-11-09	20-11-09	Active	NO

Name :

Mr. Shanubhai Madhubhai Patel

Designation :

Director

Address :

Soni Khadki, At P.O. Bhaili, District Vadodara-391410, Gujarat, India

Date of Birth/Age :

24.08.1955

Date of Appointment :

20.11.2009

Din No.:

00367891

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U45209GJ2002PTC040369	MASS INFRASTRUCTURE PRIVATE LIMITED	Whole-time director	02-09-08	18-01-02	Active	NO
2	U45201GJ2009PTC057159	MARK PROCON PRIVATE LIMITED	Director	04-06-09	04-06-09	Active	NO
3	U51109GJ2009PTC057160	MAPPS EXIM PRIVATE LIMITED	Director	04-06-09	04-06-09	Active	NO
4	U25202GJ2009PTC058639	MASS PACKSOLS PRIVATE LIMITED	Director	20-11-09	20-11-09	Active	NO

Name :

Mrs. Ranjanben Arvindbhai Patel

Designation :

Director

Address :

Soni Khadki, At P.O. Bhaili, District Vadodara-391410, Gujarat, India

Date of Birth/Age :

30.05.1961

Date of Appointment :

20.11.2009

Din No.:

00368026

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U45209GJ2002PTC040369	MASS INFRASTRUCTURE PRIVATE LIMITED	Whole-time director	02-09-08	18-01-02	Active	NO
2	U45201GJ2009PTC057159	MARK PROCON PRIVATE LIMITED	Director	04-06-09	04-06-09	Active	NO
3	U51109GJ2009PTC057160	MAPPS EXIM PRIVATE LIMITED	Director	04-06-09	04-06-09	Active	NO
4	U25202GJ2009PTC058639	MASS PACKSOLS PRIVATE LIMITED	Director	20-11-09	20-11-09	Active	NO

Name :

Moni Arvindbhai Patel

Designation :

Director

Address :

ATPC-Bhayali, Soniwadi Khadki, Vadodara-391410, Gujarat, India

Date of Appointment :

20.11.2009

Din No.:

02696016

KEY EXECUTIVES

Name :	Mr. Mahesh
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 19.09.2011

Names of Shareholders	No. of Shares
Arvindbhai Madhubhai Patel	3750
Shanubhai Madhubhai Patel	3750
Ranjanben Arvindbhai Patel	3750
Moni Arvindbhai Patel	3750
Total	15000

As on 19.09.2011

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

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Supplier of Boxes, Cartoons with Printing and Packaging Services.
Imports :
Countries :	· Germany · China
Terms :
Selling :	Cash and Credit (30 days)
Purchasing :	L/C / Cash and Credit (30 days)

GENERAL INFORMATION

Customers :

Others

· Shree Minaxi Food Products Private Limited

No. of Employees :

125 [Approximately]

Bankers :

Karnataka Bank Limited, Suryakiran Complex, Old Padra Road, Vadodara-390015, Gujarat, India

Facilities :

Unsecured Loan	As on 31.03.2010 [Rs. in Millions]
Arvindbhai Madhubhai Patel	2.215
Ranjanben Arvindbhai Patel	2.000
Shanubhai Madhubhai Patel	2.675
Moni Arvindbhai Patel	1.805
Bhikhabhai Patel	1.450
Hasmukhbhai Patel	19.439
Total	29.584

Banking Relations :	--
Auditors :
Name :	Rushabh Kamdar and Associates Chartered Accountants
Address :	304, Kirti Complex, Near Zaver Nagar, Bus Stop, Waghodia Road, Vadodara-390019, Gujarat, India
Tel. No.:	91-265-2519293 [Office] 91-265-2510288 [Residential]

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
6500000	Equity Shares	Rs.10/- each	Rs.65.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15000	Equity Shares	Rs.10/- each	Rs.0.150 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		0.150
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		0.150
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		29.584
TOTAL BORROWING		29.584
DEFERRED TAX LIABILITIES		0.000
TOTAL		29.734
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.294
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	6.032
	Other Current Assets	0.000
	Loans & Advances	23.030
Total Current Assets		29.062
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	0.000
	Provisions	0.000
Total Current Liabilities		0.000
Net Current Assets		29.062
MISCELLANEOUS EXPENSES		0.378
TOTAL		29.734

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010
	SALES
		Income	0.000
		Other Income	0.000
		TOTAL (A)	0.000
Less	EXPENSES
		Office Expenses	0.000
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	0.000
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.000
Less	FINANCIAL EXPENSES (D)		0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.000
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.000
	PROFIT BEFORE TAX (E-F) (G)		0.000
Less	TAX (H)		0.000
	PROFIT AFTER TAX (G-H) (I)		0.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.000
	BALANCE CARRIED TO THE B/S		0.000
	Earnings Per Share (Rs.)		0.000

Particulars	31.10.2010 To 31.03.2011	30.04.2011 To 30.09.2011
Sales Turnover [Approximately]	13.651	110.000

NOTE: The commercial activities has been started from October 2010.

More Than

Expected Sales (2011-12) : Rs.150.000 Millions.

The above information has been parted by Mr. Mahesh.

KEY RATIOS

PARTICULARS		31.0.3.2010
PAT / Total Income	(%)	0.00
Net Profit Margin (PBT/Sales)	(%)	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.00
Return on Investment (ROI) (PBT/Networth)		0.00
Debt Equity Ratio (Total Liability/Networth)		197.23
Current Ratio (Current Asset/Current Liability)		0.00

LOCAL AGENCY FURTHER INFORMATION

Details of Sundry Creditors: Not Available

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	Yes [2 Years]
12) Profitability for last three years	No
13) Reasons for variation <> 20%	No
14) Estimation for coming financial year	Yes
15) Capital in the business	No
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	Yes
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	No
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	--

Bankers Charges Report as per Registry

This form is for	Creation of charge
Corporate identity number of the company	U25202GJ2009PTC058639
Name of the company	MASS PACKSOLS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	9, Kalapi Avenue, First Floor, B/H, Malhar Point, Opposite Vaccine Institute, Old Padra Road, Vadodara-390015, Gujarat, India
Type of charge	Movable Property [not being pledge]
Particular of charge holder	Karnataka Bank Limited, Suryakiran Complex, Old Padra Road, Vadodara-390015, Gujarat, India
Email	vadodara@ktkbank.com
Nature of description of the instrument creating or modifying the charge	Hypothecation Agreement
Date of instrument Creating the charge	15.04.2011
Amount secured by the charge	Rs.28.300 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Term loan: base rate + 4.50% i.e. Presently 13.25% p.a. One time import LC: as per LC terms Terms of Repayment Term loan: after initial holiday period of 12 months, proposed term loan of Rs. 283/- lakh will be repaid in 60 EMI. Interest shall be serviced on monthly basis even during the holiday period. One time import LC: as per LC terms Margin Term loan: 25.00% on the plant & machinery. One time import LC: nil - subject to branch ensuring of advance remittance by the borrower (otherwise cash margin of 25% to be provided). Extent and Operation of the charge Continuous Charge Till The Account Is Settled
Short particulars of the property charged	UV dryer system and BOBST 4 and 6 corner Attachment for expert fold machine

Trade References:

· Shree Minaxi Food Products Private Limited

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.49.24
UK Pound	1	Rs.76.80
Euro	1	Rs.67.17

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	2
--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	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.