MIRA INFORM REPORT

Report Date :

11.08.2012

IDENTIFICATION DETAILS

Name :	CNC PACKAGINNG (INDIA) PRIVATE LIMITED
Registered Office :	B-195, Chitranjan Park, New Delhi - 110019
Country :	India
Financials (as on) :	31.03.20111
Date of Incorporation :	14.08.1995
Com. Reg. No.:	55-071606
Capital Investment / Paid-up Capital :	Rs.0.102 Million
CIN No.: [Company Identification No.]	U74899DL1995PTC071606
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Wooden Pallet, Ply Pullet Wooden Boxes and Crates, Foam items etc.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 9000
Status :	Small Company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small company in its filed. Its Scale of activities are limited. Trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to Medicare business dealing at usual trade terms and condition.

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, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Anil
Designation :	Director
Contact No.:	91-9811226573
Date :	09.08.2012

LOCATIONS

Registered Office :	B-195, Chitranjan Park, New Delhi – 110019, India
Tel. No.:	Not Available
Mobile No.:	91-9811226573 (Mr. Amil)
Fax No.:	Not Available
E-Mail :	cncpackaging@yahoo.com
Website :	http://www.cncpackaging.in
Location :	Owned
Factory / Corporate Office :	F-13 Site – B, Surajpur Industrial Area Greater Noida, Noida – 110019, Uttar Pradesh, India
Tel. No.:	91-120-2560123
Fax No.:	91-120-2560123

DIRECTORS

As on 17.09.2011

Name :	Mr. Anil Kumar Chopra
Designation :	Director
Address :	B – 195, Chitranjan Park, New Delhi, India
Date of Birth/Age :	25.02.1948
Date of Appointment :	14.08.1995
DIN No.:	00213511
Voter ID No.:	DL/07/067/066898
Name :	Mrs. Neena Chopra
Designation :	Director
Address :	B – 195, Chitranjan Park, New Delhi, India
Date of Birth/Age :	03.09.1951
Date of Appointment :	14.08.1995
DIN No.:	00213640
Voter ID No.:	DL/07/067/066897

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 17.09.2011

Names of Shareholders	No. of Shares
Anil Kumar Chopra	5300
Neena Chopra	4900
Total	10200

Equity Share Break up (Percentage of Total Equity)

As on 17.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Wooden Pallet, Ply Pullet Wooden Boxes and Crates, Foam items etc.
Products :	Wooden Pallets/Reinforcements · Pallets · Wooden Pallet 2 Way · Wooden Pallet 4 Way · Ply pallet · Specialize Packaging · Support Pad · Foam Items · Open Crates · Support Pads
Terms :
Selling :	Cash
Purchasing :	Cash

GENERAL INFORMATION

Customers :

Mncs

No. of Employees :

25 (Approximately)

Bankers :

· Bank of India, Noida, Uttar Pradesh, India

· Bank of India, Chittaranjan Park Branch, A-25, Chittaranjan Park, New Delhi – 110019, India

Facilities :

CC: Rs.2.000 Millions

(Rs. in Millions)

Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Director and Members	5.657	1.352
Total	5.657	1.352

Banking Relations :	--
Auditors :
Name :	Madan and Company Chartered Accountants
Address :	907 Vikrant Place, 4 Rajendra Palce, New Delhi – 110008, India
PAN.:	AAAPM6730H
Sister Concern:	CNC Pallets and Packaging India Address: Uttar Pradesh, India
Enterprises over which Key Managerial personnel are able to exercise significant influence:	CNC Pallets and Packaging India

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10200	Equity Shares	Rs.10/- each	Rs.0.102 Million

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		0.102	0.102	0.102
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2.218	1.956	1.675
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2.320	2.058	1.777
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		5.657	1.352	1.352
TOTAL BORROWING		5.657	1.352	1.352
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		7.977	3.410	3.129
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.328	0.257	0.405
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.056	0.052	0.024
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.646	0.840	0.508
	Sundry Debtors	4.420	3.700	2.613
	Cash & Bank Balances	1.060	1.394	0.624
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.184	0.160	0.183
Total Current Assets		7.310	6.094	3.928
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	4.412	2.908	1.124
	Other Current Liabilities	0.207	0.035	0.012
	Provisions	0.098	0.050	0.092
Total Current Liabilities		4.717	2.993	1.228
Net Current Assets		2.593	3.101	2.700
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7.977	3.410	3.129

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	21.700	16.200	15.261
		Other Income	NA	NA	NA
		TOTAL (A)	NA	NA	NA
Less	EXPENSES
		Office Expenses	NA	NA	NA
		Administrative Expenses	NA	NA	NA
		Advertising Expenses	NA	NA	NA
		TOTAL (B)	NA	NA	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.403	0.329	0.711
Less	FINANCIAL EXPENSES (D)		0.000	0.007	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.403	0.322	0.711
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.144	0.070	0.095
	PROFIT BEFORE TAX (E-F) (G)		0.259	0.252	0.616
Less	TAX (H)		(0.003)	(0.029)	0.090
	PROFIT AFTER TAX (G-H) (I)		0.262	0.281	0.526
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.956	1.674	1.148
	BALANCE CARRIED TO THE B/S		2.217	1.955	1.674
	Earnings Per Share (Rs.)		25.66	27.59	51.58

Particulars	31.03.2012
Sales Turnover (Approximately)	22.500

Expected Sales (2012-2013) : Rs.25.000 Millions

The above information has been parted by Mr. Anil - Director

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	1.15	1.56	4.04
Return on Total Assets (PBT/Total Assets}	(%)	3.54	4.14	15.68
Return on Investment (ROI) (PBT/Networth)		0.11	0.12	0.35
Debt Equity Ratio (Total Liability/Networth)		4.47	2.11	1.45
Current Ratio (Current Asset/Current Liability)		1.55	2.04	3.20

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
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
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	Yes
34]	External Agency Rating, if available	No

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U74899DL1995PTC071606
Name of the company	CNC PACKAGINNG (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	B-195, Chitranjan Park, New Delhi – 110019, India Email: cncpackaging@yahoo.com
This form is for	cncpackaging@yahoo.com
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	Bank of India, Chittaranjan Park Branch, A-25, Chittaranjan Park, New Delhi – 110019, India Email: virendradel@gmail.com
Nature of instrument creating charge	Hypothecation Cum Loan Agreement (Plant and Machinery, Stocks and Book debts)
Date of instrument Creating the charge	13.10.2011
Amount secured by the charge	Rs.1.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest on Cash Credit limit shall be charged @3.75% above base rate, presently 14.50 % p. a. with monthly rests or at such other rates as may be prescribed by the bank from time to time. Terms of Repayment Payable on demand. Margin Stocks - 25 percent, Book debts - 40 percent. Extent and Operation of the charge 100 percent.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of the followings: a) Stocks of raw materials viz. kicker, pine wood/block, ply board, corrugated boxes, foam, wooden pallets etc., semi finished and finished stocks of pallets of all types packaging etc. lying at factory premises situated at F-13, Site-B, Surajpur Industrial Area, Greater Noida(UP) or at residence at B-195, 2nd Floor, C.R. Park, New Delhi -110019 or wherever else. b) All book-debts, outstanding, money receivables, claims and bills which are now due and owing or which may at any time hereafter during the continuance of this security. c) All tangible movable machineries and plants both present and future whether installed or not and whether lying loose or in cases at site or in transit a short particulars of the Agreement or which may at any time during the continuance of this securities being installed or lying loose or in cases or being in or upon or about the Borrower's premises, godowns at F-13, Site-B, Surajpur Industrial Area, Greater Noida(UP) or wherever else the same may be.

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.55.34
UK Pound	1	Rs.86.45
Euro	1	Rs.68.04

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	KVT

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	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		31

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.