MIRA INFORM REPORT

Report Date :

14.08.2012

IDENTIFICATION DETAILS

Name :	CHELLSONS PACKAGING PRIVATE LIMITED
Registered Office :	32/3, Velayutham Road,  Sivakasi - 626123, Viruthunagar District, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	02.06.2004
Com. Reg. No.:	18-053386
Capital Investment / Paid-up Capital :	Rs.4.602 Millions
CIN No.: [Company Identification No.]	U21023TN2004PTC053386
TAN No.: [Tax Deduction & Collection Account No.]	MRIC00656F
PAN No.: [Permanent Account No.]	AACCC3790L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Printing and Converting of Shrink Film and Flexibles.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (14)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. There appears huge accumulated losses recorded by the company. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow. The company can be considered for business dealing on a safe and secured 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 (GENERAL DETAILS)

Name :	Ms. Hamrulla
Designation :	Account Assistant
Contact No.:	91-4562-221550
Date :	11.08.2012

LOCATIONS

Registered Office / Head Office / Factory :	32/3, Velayutham Road,  Sivakasi - 626123, Viruthunagar District, Tamilnadu, India
Tel. No.:	91-4562-221550 / 645660
Fax No.:	91-4562 227861
E-Mail :	mails@cfa-india.com vijipipes@yahoo.com
Website :	http://www.optishrink.com
Location :	Owned

DIRECTORS

As on 29.09.2011

Name :

Mr. Rajasingh Chelladhurai

Designation :

Director

Address :

84, Railway Feeder Road, Sivakasi - 626123, Tamilnadu, India

Date of Birth/Age :

26.11.1951

Date of Appointment :

02.06.2004

DIN No.:

00359525

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U24292TN1977PTC007319	STANDARD FIRE WORKS PRIVATE LIMITED	Director	01/04/2010	16/03/1983	-	Active	NO
2	U24292TN1990PTC019468	RAJARATNAM FIREWORKS PRIVATE LIMITED	Director	01/08/1990	01/08/1990	-	Active	NO
3	U55101PY1991PTC000759	BELL HOTELS PRIVATE LIMITED	Director	08/08/1991	08/08/1991	-	Active	NO
4	U24292TN1993PLC024919	STANDARD PYROTECHNICS LIMITED	Director	30/01/1994	30/01/1994	-	Active	NO
5	U93090TN1997PTC038292	EXCEL NEEDLES PRIVATE LIMITED	Director	28/05/1997	28/05/1997	-	Active	NO
6	U27107TN1999PTC042169	BELL PINS PRIVATE LIMITED	Director	26/03/1999	26/03/1999	-	Active	NO
7	U31905TN1999PTC042164	CHELLSONS WIRE MILLS PRIVATE LIMITED	Director	26/03/1999	26/03/1999	-	Active	NO
8	U21023TN2004PTC053386	CHELLSONS PACKAGING PRIVATE LIMITED	Director	2/06/2004	2/06/2004	-	Active	NO
9	U22219TN2008PTC066983	BELL PRINTERS PRIVATE LIMITED	Managing director	25/03/2008	25/03/2008	-	Active	NO
10	U24230TN2008PTC067143	BELL LABORATORIES PRIVATE LIMITED	Director	1/04/2008	1/04/2008	-	Active	YES
11	U24100TN2011PTC081487	JUMBO FIREWORKS INDIA PRIVATE LIMITED	Director	14/07/2011	14/07/2011	-	Active	NO
12	U24292TN1974PTC006792	SUNDARAVEL FIRE WORKS PRIVATE LIMITED	Whole-time director	1/4/2012	1/4/2012	-	Active	NO

Name :

Hema Subhasingh

Designation :

Director

Address :

Shepher 1/2. Thirtitharigal Road, Sivakasi – 625123, Tamilnadu, India

Date of Birth/Age :

04.09.1948

Date of Appointment :

02.06.2004

DIN No.:

01269393

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U36991TN1999PTC042166	BELL PRODUCTS PRIVATE LIMITED	Director	26/03/1999	26/03/1999	-	Active	NO
2	U36992TN1999PTC042167	STYLE FASTENERS PRIVATE LIMITED	Director	26/03/1999	26/03/1999	-	Active	NO
3	U25191TN1999PTC042168	TIRUNELVELI SPUN PIPES PRIVATE LIMITED	Director	26/03/1999	26/03/1999	-	Active	NO
4	U36991TN2001PTC046875	GOODWILL PINS PRIVATE LIMITED	Director	29/03/2001	29/03/2001	-	Active	NO
5	U21023TN2004PTC053386	CHELLSONS PACKAGING PRIVATE LIMITED	Director	02/06/2004	02/06/2004	-	Active	NO
6	U21093TN2006PTC061355	ANABELL PAPER MILLS PRIVATE LIMITED	Director	20/10/2006	20/10/2006	-	Active	NO

Name :

Banumanthi Gunasingh

Designation :

Director

Address :

17/A, High Ground Road. Palayarnkottai – 627002, Tamilnadu, India

Date of Birth/Age :

06.05.1949

Date of Appointment :

02.06.2004

DIN No.:

00625520

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U36991TN1990PTC080974	STITCHWELL STAPLES PRIVATE LIMITED	Director	25/04/1990	25/04/1990	-	Active	NO
2	U36992TN1999PTC042167	STYLE FASTENERS PRIVATE LIMITED	Director	26/03/1999	26/03/1999	-	Active	NO
3	U36991TN2001PTC046875	GOODWILL PINS PRIVATE LIMITED	Director	29/03/2001	29/03/2001	-	Active	NO
4	U21023TN2004PTC053386	CHELLSONS PACKAGING PRIVATE LIMITED	Director	02/06/2004	02/06/2004	-	Active	NO
5	U25199TN2007PTC062321	BELL HEALTH CARE PRIVATE LIMITED	Director	09/02/2007	09/02/2007	-	Active	NO

Name :

Janet Vijayasingh

Designation :

Director

Address :

17/B, High Ground Road. Palayarnkottai – 627002, Tamilnadu, India

Date of Birth/Age :

05.11.1954

Date of Appointment :

02.06.2004

DIN No.:

00401481

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U36991TN1990PTC080974	STITCHWELL STAPLES PRIVATE LIMITED	Director	25/04/1990	25/04/1990	-	Active	NO
2	U36992TN1999PTC042167	STYLE FASTENERS PRIVATE LIMITED	Director	26/03/1999	26/03/1999	-	Active	NO
3	U36991TN2001PTC046875	GOODWILL PINS PRIVATE LIMITED	Director	29/03/2001	29/03/2001	-	Active	NO
4	U21023TN2004PTC053386	CHELLSONS PACKAGING PRIVATE LIMITED	Director	02/06/2004	02/06/2004	-	Active	NO

Name :

Dhamayanthi Dhanasingh

Designation :

Director

Address :

15. St. Mark Salai St. Palayamkottai - 627002 Tamilnadu, India

Date of Birth/Age :

28.10.1949

Date of Appointment :

02.06.2004

DIN No.:

00625505

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U36991TN1990PTC080974	STITCHWELL STAPLES PRIVATE LIMITED	Director	25/04/1990	25/04/1990	-	Active	NO
2	U36992TN1999PTC042167	STYLE FASTENERS PRIVATE LIMITED	Director	26/03/1999	26/03/1999	-	Active	NO
3	U21023TN2004PTC053386	CHELLSONS PACKAGING PRIVATE LIMITED	Director	02/06/2004	02/06/2004	-	Active	NO

Name :

Mr. Rajendrasingh Chelladhurai

Designation :

Director

Address :

200-A/2, Tiruchendur Road, Palayamkottai - 627002 Tamilnadu, India

Date of Birth/Age :

28.04.1955

Date of Appointment :

02.06.2004

DIN No.:

00638655

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U55101PY1991PTC000759	BELL HOTELS PRIVATE LIMITED	Director	8/8/1991	8/8/1991	-	Active	NO
2	U93090TN1997PTC038292	EXCEL NEEDLES PRIVATE LIMITED	Director	28/05/1997	28/05/1997	-	Active	NO
3	U27107TN1999PTC042169	BELL PINS PRIVATE LIMITED	Director	26/03/1999	26/03/1999	-	Active	NO
4	U36992TN1999PTC042167	STYLE FASTENERS PRIVATE LIMITED	Director	26/03/1999	26/03/1999	-	Active	NO
5	U31300TN1999PTC042163	DARLINGSONS WIRE FORMS PRIVATE LIMITED	Director	26/03/1999	26/03/1999	-	Active	NO
6	U31905TN1999PTC042164	CHELLSONS WIRE MILLS PRIVATE LIMITED	Director	26/03/1999	26/03/1999	-	Active	NO
7	U36991TN1999PTC042166	BELL PRODUCTS PRIVATE LIMITED	Director	26/03/1999	26/03/1999	-	Active	NO
8	U21023TN2004PTC053386	CHELLSONS PACKAGING PRIVATE LIMITED	Director	02/06/2004	02/06/2004	-	Active	NO
9	U24100TN2011PTC081487	JUMBO FIREWORKS INDIA PRIVATE LIMITED	Director	21/12/2011	21/12/2011	20/04/2012	Active	NO

Name :

Ranjan Vijayasingh

Designation :

Director

Address :

17/B, High Ground Road. Palayarnkottai – 627002, Tamilnadu, India

Date of Birth/Age :

12.10.1977

Date of Appointment :

01.07.2004

DIN No.:

00168686

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U27107TN1999PTC042169	BELL PINS PRIVATE LIMITED	Director	26/03/1999	26/03/1999	-	Active	NO
2	U36992TN1999PTC042167	STYLE FASTENERS PRIVATE LIMITED	Director	26/03/1999	26/03/1999	-	Active	NO
3	U36991TN1999PTC042166	BELL PRODUCTS PRIVATE LIMITED	Director	26/03/1999	26/03/1999	-	Active	NO
4	U36991TN2001PTC046875	GOODWILL PINS PRIVATE LIMITED	Director	29/03/2001	29/03/2001	-	Active	NO
5	U21023TN2004PTC053386	CHELLSONS PACKAGING PRIVATE LIMITED	Director	01/07/2004	01/07/2004	-	Active	NO
6	U22219TN2008PTC066983	BELL PRINTERS PRIVATE LIMITED	Additional director	11/6/2008	11/6/2008	-	Active	NO
7	U51102TN2009PTC074112	BELL INDUSTRIAL AND STATIONERY SUPPLIES PRIVATE LIMITED	Director	31/12/2009	31/12/2009	-	Active	NO
8	U36932TN2010PTC074135	BELL CONCRETE PIPES PRIVATE LIMITED	Director	04/01/2010	04/01/2010	-	Active	NO

Name :

Ahalya Ranjan

Designation :

Director

Address :

17/B, High Ground Road. Palayarnkottai – 627002, Tamilnadu, India

Date of Birth/Age :

01.04.1982

Date of Appointment :

01.04.2006

DIN No.:

01813204

Other Directorship

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U36991TN2004PTC052535	MAXWELL STATIONERS PRIVATE LIMITED	Director	15/03/2006	15/03/2006	-	Active	NO
2	U21023TN2004PTC053386	CHELLSONS PACKAGING PRIVATE LIMITED	Director	01/04/2006	01/04/2006	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Hamrulla
Designation :	Account Assistant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	No. of Shares
C. Dhanasingh	1500
C. Gunasingh	2000
C. Subhasingh	5000
C. Vijaysingh	1050
C. Rajasingh	3500
C. Rjendrasingh	3500
D. Dhamayanthi	3170
S. Hema	2670
G. Banumathi	3720
V. Janet	2570
R. Bino	2220
R. Rantha	2220
D. Dinesh	1500
G. Sanjay	1950
D. Dilip	1500
V. Ranjan	2400
R. Vasant	1950
R. Vasikaran	1950
R. Ahalya	1650
Total	46020

As on 29.09.2011

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 of Printing and Converting of Shrink Film and Flexibles.
Products :	· Optishrink Polyolefin Films · Optishrink Virgin PVC Films · Shrink Labels - PVC / PET-G
Terms :
Selling :	Cash / Credit
Purchasing :	Cash / Credit

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Unit	Actual Production
PVC Bags	Kgs	101147
LD Bags	Kgs	9175

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

No. of Employees :

50 (Approximately)

Bankers :

· Indian Overseas Bank, Geethalaya Building, Chairman A. Shunmugam Road, Sivakasi - 626123, Tamilnadu, India

· HDFC Bank Limited

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Loan form IOB (CC)	8.088	4.588
Term Loan form IOB	8.942	0.135
HDFC Car Loan	0.707	1.156
IOB Car Loan	0.000	0.550
Total	17.737	6.429
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Loan form Director	8.119	8.658
Dues to Associates in which Directors are Interested	29.740	28.492
Total	37.859	37.150

Banking Relations :	--
Auditors :
Name :	S. Velayutham Chartered Accountant
Address :	79D, Sundarar Street, Tirunelveli – 627006, Tamilnadu, India
PAN.:	ACDPV4618G

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
46020	Equity Shares	Rs.100/- each	Rs.4.602 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		4.602	2.100	2.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.00	0.000
4] (Accumulated Losses)		(7.051)	(9.509)	(11.271)
NETWORTH		(2.449)	(7.409)	(9.171)
LOAN FUNDS
1] Secured Loans		17.737	6.429	8.391
2] Unsecured Loans		37.859	37.150	29.242
TOTAL BORROWING		55.596	43.579	37.633
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		53.147	36.170	28.462
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		32.863	22.680	21.493
Capital work-in-progress		1.442	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	6.763	5.290	4.012
	Sundry Debtors	19.653	12.109	8.029
	Cash & Bank Balances	0.028	0.041	0.223
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	8.339	9.011	3.081
Total Current Assets		34.783	26.451	15.345
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	12.542	9.392	5.684
	Other Current Liabilities	2.205	2.676	2.139
	Provisions	1.194	0.893	0.553
Total Current Liabilities		15.941	12.961	8.376
Net Current Assets		18.842	13.490	6.969
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		53.147	36.170	28.462

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	78.721	58.445	45.887
		Other Income	4.953	2.198	1.041
		TOTAL (A)	83.674	60.643	46.928
Less	EXPENSES
		Materials Consumed	45.125	33.170	26.009
		Manufacturer Expenses	4.735	3.588	3.407
		Employees Expenses	4.480	4.434	3.904
		Selling and Administrative Expenses	15.550	10.982	10.623
		Increase / (Decrease) in Stock	0.075	(0.616)	(2.555)
		TOTAL (B)	69.965	51.558	41.388
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		13.709	9.085	5.540
Less	FINANCIAL EXPENSES (D)		5.580	4.004	4.126
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		8.129	5.081	1.414
Less/ Add	DEPRECIATION/ AMORTISATION (F)		5.270	2.979	3.614
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		2.859	2.102	(2.200)
Less	TAX (H)		0.400	0.340	0.150
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		2.459	1.762	(2.350)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(9.509)	(11.271)	(8.921)
	BALANCE / (LOSS) CARRIED TO THE B/S		(7.050)	(9.509)	(11.271)
	EARNINGS IN FOREIGN CURRENCY
		F.O.B. value of goods exported	1.964	1.337	0.023
	TOTAL EARNINGS		1.964	1.337	0.023
	IMPORTS
		Raw Materials	4.702	0.091	0.000
		Capital Goods	0.000	4.018	0.000
	TOTAL IMPORTS		4.702	4.109	0.000
	Earnings / (Loss) Per Share (Rs.)		53.42	83.89	(111.91)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.94	3.01	(5.12)
Net Profit Margin (PBT/Sales)	(%)	3.42	3.60	(4.79)
Return on Total Assets (PBT/Total Assets}	(%)	4.23	4.28	(5.97)
Return on Investment (ROI) (PBT/Networth)		(1.17)	(0.28)	0.23
Debt Equity Ratio (Total Liability/Networth)		(29.21)	(7.63)	(5.02)
Current Ratio (Current Asset/Current Liability)		2.18	2.04	1.83

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	No
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)	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]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

CONTINGENT LIABILITIES NOT PROVIDED FOR

Rs. in Millions

Particular	31.03.2011	31.03.2010
On Guarantees executed by Company’s Banker	0.000	20.000

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U21023TN2004PTC053386
Name of the company	CHELLSONS PACKAGING PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	32/3, Velayutham Road,  Sivakasi - 626123, Viruthunagar District, Tamilnadu, India vijipipes@yahoo.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	80058251
Type of charge	· Immovable property · Book debts · Movable property (not being pledge)
Particular of charge holder	Indian Overseas Bank, Geethalaya Building, Chairman A. Shunmugam Road, Sivakasi - 626123, Tamilnadu, India sivabr@tutsco.iobnet.co.in
Nature of instrument creating charge	Letter of hypothecation in form-110-e
Date of instrument Creating the charge	15.11.2010
Amount secured by the charge	Rs.19.150 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per the Sanction Letter dated 15.11.2010 Terms of Repayment 59 Monthly Instalments of Rs.0.042 Million each w.e.f. January, 2011. The Last Instalment 60^th being Rs.0.046 Million Margin As per Relevant Sanction Extent and Operation of the charge Exclusive First Charge
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of Goods / Book-Debts / Machineries / Vehicles present and future at the subject premises in Sivakasi or elsewhere. Land and Building at Old No:37A/4A, S.No.66/1B2 Town Ward, Street, No.15, TS.No.16/3, Velayutham Road, Siavkasi, owned by Chellsons Fine Arts Factory Land measuring 63.2 Cents and Buildings at S.No.20/1A,T.S. No.16, Ward B, Block 3, Old Nos.46, 46/1 to 6, New Nos.32/1 to 7, Velayutham Road, Sivakasi in the name of Chellsons Fine Arts
Date of instrument modifying the charge	18.06.2010
Particulars of the present modification	The overall limit has been increased to Rs.19.150 Millions

Fixed Assets

· Plant and Machinery

· Furniture and Fittings

· Electrical Fittings

· Car Computer System

· Vehicle

· Building

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.55.42
UK Pound	1	Rs.86.78
Euro	1	Rs.68.03

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	--
--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		14

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.