MIRA INFORM REPORT

Report Date :

10.02.2012

IDENTIFICATION DETAILS

Name :	SHANKAR PACKAGINGS LIMITED
Formerly Known As :	SHANKAR PACKAGINGS PRIVATE LIMITED
Registered Office :	303, Turf Estate, Dr. E Moses Road, Shakti Mills Lane, Mumbai - 400011, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	06.05.1985
Com. Reg. No.:	11-036120
Capital Investment / Paid-up Capital :	Rs.28.050 Millions
CIN No.: [Company Identification No.]	U25202MH1985PTC036120
TAN No.: [Tax Deduction & Collection Account No.]	BRDS01961B / MUMS40482B / MUMS40819C
PAN No.: [Permanent Account No.]	AAACS8076P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of FIBC/HDPE/ PP Woven Sacks
No. of Employees :	210 (Approximately) (In Office + In Factory)

RATING & COMMENTS

MIRA’s Rating :

Ba ( 52)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.		Satisfactory

Maximum Credit Limit :	USD 1680900
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having good track. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions.

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. Santosh
Designation :	Accountant
Contact No.:	91-22-24903228
Date :	09.02.2012

LOCATIONS

Registered Office / Corporate Office:	303, Turf Estate, Dr. E Moses Road, Shakti Mills Lane, Mumbai - 400011, Maharashtra, India
Tel. No.:	91-22-24903236 / 24903225 / 24903228
Mobile No.:	91-22-24903236
Fax No.:	91-22-24903227
E-Mail :	shankar1@mtnl.net.in corporate@shankarpack.com
Website :	http://www.shankarpack.com
Area:	550 sq. ft.
Location :	Owned
Factory & Sales Office :	4-5-6, GIDC Estate, Vaghodia, District: Baroda – 391 760, Gujarat – India
Tel. No.:	91-2668-262334 / 262434
Fax No.:	91-2668-262833
E-Mail :	info@shankarpack.com
Area:	Owned
Branch Office :	(Hyderabad - Marketing) 508, Maheshwari Chambers, Somajiguda, Hyderabad – 500082, Andhra Pradesh – India
Tel. No.:	91-40-40038828

DIRECTORS

As on 30.09.2011

Name :	Mr. Anandshankar Revashankar Pandya
Designation :	Director
Address :	1401, Pleasant Palace, 16 N D Road, Mumbai – 400 006, Maharashtra, India
Date of Appointment :	21.06.1986
DIN No :	01163634

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	U25202MH1985PLC036120	Shankar Packagings Limited	Director	21-06-86	21-06-86	-	Active	NO
2	U36911MH1995PLC087127	Revashankar Gems Limited	Director	03-04-95	03-04-95	01-04-10	Active	NO
3	U67120MH1995PTC093476	Shankar Securities Private Limited	Director	20-11-95	20-11-95	-	Active	NO
4	U36912MH1989PLC054800	Shankar Jewels Limited	Additional director	30-03-09	30-03-09	-	Active	NO

Name :	Mr. Ganga Sharan Agrawal
Designation :	Director
Address :	801, Pleasant Palace, 16 N S Road, Charni Road Station, Mumbai – 400 006, Maharashtra, India
Date of Birth/Age :	31.07.1931
Date of Appointment :	27.02.1988
DIN No :	00216838

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	U25202MH1985PLC036120	Shankar Packagings Limited	Director	27-02-88	27-02-88	-	Active	NO
2	U74899DL2000PTC106325	Vcustomer Services India Private Limited	Director	16-06-00	16-06-00	-	Active	NO
3	U74140DL2003PTC120443	Value Fincon Private Limited	Director	21-05-03	21-05-03	05-04-10	Active	NO
4	U65990MH2005PTC155070	Napean Finvest Private Limited	Director	26-07-05	26-07-05	-	Active	NO
5	U70102MH2006PTC161387	Satrang Realty Private Limited	Director	26-04-06	26-04-06	-	Active	NO
6	U64203DL2007PTC191740	Cornersteel System India Private Limited	Director	27-02-07	27-02-07	31-03-09	Active	NO
7	U72300DL2009PTC195607	New Vc International Private Limited	Director	29-09-10	05-04-10	-	Amalgamated	NO
8	U72900DL2010PTC208730	Techgenie Services International Private Limited	Director	29-09-11	13-04-11	-	Active	NO

Name :	Mr. Gaj Singh Jodhpur
Designation :	Director
Address :	Umaid Bhavan Palace, Umaid , Jodhpur – 272 006, Rajasthan, India
Date of Birth/Age :	13.01.1948
Date of Appointment :	27.02.1988
DIN No :	00061278

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	U55101RJ1971PTC001349	Marudhar Hotels Private Limited	Director	14-10-11	31-03-71	-	Active	NO
2	U70101RJ1971PTC001348	Jodhan Real Estate Development Company Private Limited	Director	31-03-71	31-03-71	-	Active	NO
3	U74899DL1978PTC009369	Marudhar Cultivators Private Limited	Director	18-12-78	18-12-78	-	Active	NO
4	U74899DL1978PTC009368	Marudhar Theater Private Limited	Director	18-12-78	18-12-78	-	Active	NO
5	U74899DL1978PTC009231	Marudhar Investment Private Limited	Director	18-12-78	18-12-78	-	Active	NO
6	U63040RJ1967PTC001220	Mayur Travels Rajasthan Private Limited	Director	20-01-80	20-01-80	-	Active	NO
7	U25202MH1985PLC036120	Shankar Packagings Limited	Director	27-02-88	27-02-88	-	Active	NO
8	U51909DL1978PTC009232	Engineers Impex Private Limited	Director	10-08-90	10-08-90	-	Active	NO
9	U85110MH1992PLC068793	Jodhana Medical and Research Centre Limited	Director	29-09-92	29-09-92	-	Active	NO
10	U65993DL1981PTC012505	Umaid Investment Company Private Limited	Director	18-10-93	18-10-93	-	Active	NO
11	L24230DL1975PLC007908	Dabur India Limited	Director	16-11-93	16-11-93	30-10-08	Active	NO
12	U22101RJ1995PTC009282	Mehrangarh Publishers Private Limited	Director	04-01-95	04-01-95	-	Active	NO
13	U55101DL1995PLC099973	Fortune Park Hotels Limited	Director	26-07-95	26-07-95	-	Active	NO
14	U74899DL1995PLC099649	Maharaja Heritage Resorts Limited	Director	28-08-95	28-08-95	-	Active	NO
15	U55101RJ1992PTC006948	Mallani Hotels,Motels And Restaurants Private Limited	Director	30-09-96	30-09-96	-	Active	NO
16	U63040RJ1999PTC015546	Marudhar Tours and Travels Private Limited	Director	16-04-99	16-04-99	-	Active	NO
17	U65991DL1998FTC095176	Acam Trust Company Private Limited.	Director	20-09-99	20-09-99	14-03-07	Active	NO
18	U99999MH2000PLC128110	Birla Sun Life Insurance Company Limited	Director	19-11-02	19-11-02	05-02-08	Active	NO
19	U45200MH2007PTC168282	Urban Akarsh Infrastructure Private Limited	Director	24-05-07	24-05-07	13-10-10	Active	NO
20	U15411MH2007PTC168244	Ess Gee Realty Private Limited	Director	24-05-07	24-05-07	13-10-10	Active	NO
21	U92400MH2004PTC146693	Royal Marwar Hospitality Private Limited	Director	24-05-07	24-05-07	-	Active	NO
22	U65993RJ1970PTC001290	Jodhan Investment and Finance Corporation Private Limited	Managing director	26-12-07	26-12-07	-	Active	NO
23	U45200DL2008PTC176653	Jodhana Developers Private Limited	Director	11-04-08	11-04-08	-	Active	NO
24	U55204DL2008PTC176937	Jodhana Heritage Resorts Private Limited	Director	21-04-08	21-04-08	-	Active	NO
25	U55101MH2008PLC200363	Apodis Hotels and Resorts Limited	Director	30-09-09	12-11-08	28-01-11	Active	NO
26	U40106DL2008PTC173114	Jodhana Alternative Energy Solutions India Private Limited	Director	30-09-09	26-12-08	-	Active	NO
27	U92199RJ2009NPL028272	Rajasthan Creative Alliance Network	Director	09-02-09	09-02-09	-	Active	NO
28	U70109DL2010PTC199778	Umaid Heritage Estate Management Private Limited	Director	08-03-10	08-03-10	-	Active	NO
29	U55101MH2000PLC187834	Lavasa Corporation Limited	Director	30-07-10	16-07-10	-	Active	NO
30	U55101DL2010PTC206049	Palace Hotels (India) Private Limited	Director	20-07-10	20-07-10	-	Active	NO
31	U55101DL2011PTC214931	Stadium Hotels Private Limited	Director	28-02-11	28-02-11	-	Active	NO
32	U92322RJ2011NPL036676	Mehrangarh Enterprises	Director	11-10-11	11-10-11	-	Active	NO

Name :	Mr. Praveen Shankar Pratap Shankar Pandya
Designation :	Director
Address :	112, A, Paradise Apartment, 44 N S Road, Charni Road Station, Mumbai – 400 006, Maharashtra, India
Date of Birth/Age :	04.10.1950
Date of Appointment :	06.05.1985
DIN No :	00316843

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	U25202MH1985PLC036120	Shankar Packagings Limited	Director	06-05-85	06-05-85	-	Active	NO
2	U36912MH1989PLC054800	Shankar Jewels Limited	Director	29-12-89	29-12-89	-	Active	NO
3	U36911MH1995PLC087127	Revashankar Gems Limited	Director	03-04-95	03-04-95	-	Active	NO
4	U36912MH2000PLC123669	Shangold India Limited	Director	17-01-00	17-01-00	-	Active	NO
5	U36911MH2002PLC138275	Diamond India Limited	Director	16-12-02	16-12-02	-	Active	NO
6	U91110GJ2000NPL039065	Gujarat Hira Bourse	Director	09-03-04	09-03-04	-	Active	NO
7	U99999MH2006PTC159430	Shankar Realty Private Limited	Managing director	01-02-06	01-02-06	-	Active	NO
8	U65999MH2006PTC163129	Bulk Diamonds Private Limited	Director	17-07-06	17-07-06	-	Active	NO
9	U99100MH1966GAP013486	The Gem and Jewellery Export Promotion Council	Director	29-09-06	29-09-06	21-09-10	Active	NO

Name :	Mr. Akshayshankar Pratapshankar Pandya
Designation :	Director
Address :	112-A, Paradise Apartments, 44 Nepeansea Road, Mumbai – 400006, Maharashtra, India
Date of Birth/Age :	02.06.1965
Date of Appointment :	13.05.2009
DIN No :	01557239

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	U25202MH1985PLC036120	Shankar Packagings Limited	Director	21-09-10	06-05-85	-	Active	NO
2	U36911MH1995PLC087127	Revashankar Gems Limited	Director	03-04-95	03-04-95	-	Active	NO
3	U67120MH1995PTC093476	Shankar Securities Private Limited	Director	10-10-95	10-10-95	-	Active	NO
4	U55101RJ1992PTC006948	Mallani Hotels,Motels And Restaurants Private Limited	Director	30-09-96	30-09-96	-	Active	NO
5	U99999MH2006PTC159430	Shankar Realty Private Limited	Director	01-02-06	01-02-06	-	Active	NO
6	U70102MH2007PTC173215	Springnature Estate Private Limited	Director	18-08-07	18-08-07	-	Active	NO
7	U36912MH1989PLC054800	Shankar Jewels Limited	Director	30-09-10	30-09-10	-	Active	NO

Name :	Mr. Govind Shankar Pandya
Designation :	Director
Address :	A-5, Garia Das CHS Limited, N S Road, Ville Parle (East), Mumbai – 400 049, Maharashtra, India
Date of Birth/Age :	19.03.1930
Date of Appointment :	01.04.1986
DIN No :	00316822
Name :	Mr. Vikramshankar Govindshankar Pandya
Designation :	Director
Address :	A/5, Garib CHSL, N S Road, No. 5, JVPD, Juhu, Mumbai-400 049, Maharashtra, India
Date of Birth/Age :	06.04.1961
Date of Appointment :	01.04.1995
DIN No :	01595269

KEY EXECUTIVES

Name :	Mr. Pranab Lalit Mitra
Designation :	Secretary
Address :	302, Usha Sadan CHSL, Next to Bhavani Nagar, Marol Maroshi Road, Mumbai – 400 059, Maharashtra, India
Date of Birth/Age :	24.05.1960
Date of Appointment :	01.01.1986
E-mail:	pramal42@hotmail.com
Tel No.:	91-22-29259586
Fax No.:	91-22-23642880
Name :	Mr. Santosh
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 21.09.2010

Names of Shareholders	No. of Shares
Praveen Shankar Pandya	35547
Rajeev Shnakar Pandya	34500
Anand Shankar Pandya	141295
Umaid Investment Company Private Limited, India	690000
Govind Shankar Pandya	147375
Vikram Shankar Pandya	290905
Alka Rajeev Pandya	31625
Rati Pandya	1572
Aparna Kulkarni	5750
Manoj Selot	5750
Sangeeta Pandya	34500
Namita P Pandya	29274
Urvashi B Bhatt and Balkrishna B Bhatt	2185
Akshay Shankar Pandya	34500
Vidyaben Pandya	46000
Saroj Pandya	62360
Shivani Pandya	34500
Shuchi Pandya	34500
Avinash Pandya	58937
Siddarth Pandya	58937
Vivek Pandya	34500
Sbaokar Securities Private Limited, India	150000
Bulk Bags India Limited, India	391100
Mountain Peak Investment INC, USA	161000
Dolphin Investments Limited, Hong Kong	150600
Jyotishankar Pandya, Englewood	43125
Revashankar Gems Limited, India	11250
Shankar Jewels Limited, India	11250
Shankar Realty Private Limited, India	22590
R D Pandya (HUF)	650
Dhruv Akshay Pandya	24438
Kashyap Akshay Pandya	24438
Total	2804953

Equity Share Breakup (Percentage of Total Equity)

As on 21.09.2010

Category	Percentage
Foreign holdings (Foreign institutional investors ) foreign companies foreign financial institutions , non residents or Overseas corporate bodies or others	13.00
Director or relative of Director	66.00
Bodies corporate	21.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of FIBC/HDPE/ PP Woven Sacks

Products :

· FIBC

· Big Bags

· Woven Sacks,

· Fabrics

· Big Bag

- Standard Bag

- Form Stabilised Bag

- Conical Bag

- Cross Corner Bag

- Ventillated Bag

- UN Bag

- Conductive Bag

- Tunnel Loop Bag

- Tubular FIBC

Product Description	ITC Code
FIBC	63053200
P P Woven Sacks	39239090
P P Woven Fabric	39261099

Exports :

Products :

FIBC / HDPE / PP and Woven Sacks

Countries :

· USA

· Europe

Imports :

Products :

Raw Material

Countries :

Switzerland

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS (As on 31.03.2010)

Particulars	Unit	Installed Capacity	Actual Production
Woven Stocks	MT	8600	8058

GENERAL INFORMATION

Customers :

Wholesalers and Retailers

No. of Employees :

210 (Approximately) (In Office + In Factory)

Bankers :

• State Bank of India, Industrial Finance Branch, The Arcade, 2^nd Floor, World Trade Center, Cuffe Parade, Mumbai – 400 005, Maharashtra, India
• State Bank of India, MIDC Group Industrial Finance Branch, Marble Arch, Race Course, Vadodara 390007, Gujarat, India

Facilities

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Working Capital Loan From A Bank	190.724	127.936
Term Loan From A Bank (Term Loan Repayable within one year Rs. 42.739 Millions including interest)	77.221	108.196
G.I.D.C (Repayable within one year Rs. 0.375 Millions including interest)	1.095	1.290
Deferred Payment Credit (Repayable within one year Rs. 0.457 Millions including interest)	1.526	1.766
Total	270.566	239.188
Note: · Working Capital loans from Bank comprises of Cash Credit, Pre-shipment and Post shipment credit which are secured against hypothecation of inventories, book debts and second charge on all immovable properties of the company and personal guarantee of the promoters · Term loan form bank is secured against Equitable Mortgage of Company’s Fixed Assets at Plot No. 4, 5 and 6, GIDC, Vaghodia, Vadodra and second charge on all current assets as collateral as well as personal guarantee of the directors · Loan From G.I.D.C is secured against Plot No. 226 situated at Vaghodia · Deferred payment credit secured against specific vehicles
Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Inter Corporate Deposits	1.250	1.250
Interest Accrued on above	0.068	0.023
Total	1.318	1.273

Banking Relations :

Good

Auditors :

Name :

Rajendra and Company

Chartered Accountants

Address :

1311, Dalmal Tower, 211, Nariman Point, Mumbai – 400 021, Maharashtra, India

Memberships :

· PLEXCONCIL,

· FIEO,

· SRTEPC

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs. 10/- each	Rs. 30.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2804953	Equity Shares	Rs. 10/- each	Rs.28.050 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		28.049	28.049	28.050
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		392.184	353.481	302.873
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		420.233	381.530	330.923
LOAN FUNDS
1] Secured Loans		270.566	239.188	239.110
2] Unsecured Loans		1.318	1.273	0.664
TOTAL BORROWING		271.884	240.461	239.774
DEFERRED TAX LIABILITIES		27.146	23.417	18.938
TOTAL		719.263	645.408	589.635
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		423.104	359.555	295.197
Capital work-in-progress		3.969	7.529	6.868
INVESTMENT		30.152	41.799	52.610
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	156.343	123.579	144.317
	Sundry Debtors	82.843	92.663	96.643
	Cash & Bank Balances	11.182	39.797	8.794
	Other Current Assets	0.485	0.326	0.415
	Loans & Advances	143.870	114.381	105.919
Total Current Assets		394.723	370.746	356.088
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	75.801	67.997	58.833
	Other Liabilities	0.672	1.026
	Provisions	56.213	65.198	61.774
Total Current Liabilities		132.686	134.211	121.128
Net Current Assets		262.038	236.525	234.960
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		719.263	645.408	589.635

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	1138.161	1246.872	995.309
		Other Income	7.402	4.212	17.349
		TOTAL (A)	1145.563	1251.084	1012.658
Less	EXPENSES
		Cost of Materials	648.215	702.245	576.647
		Manufacturing Expenses	237.008	215.115	188.899
		Exchange Fluctuation Loss on Foreign Currency Loan	(5.525)	(5.687)	10.374
		Increase/(Decrease) in Finished Goods	(25.814)	4.137	[9.677]
		Fabric Consumption	0.543	0.318	2.993
		Loss on Diminution of Investments	(2.709)	2.709
		Administrative Expenses	171.865	175.249	151.362
		TOTAL (B)	1023.583	1094.086	920.598
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		121.980	157.998	92.060
Less	FINANCIAL EXPENSES (D)		28.504	40.034	30.660
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		93.476	116.964	61.400
Less/ Add	DEPRECIATION/ AMORTISATION (F)		31.069	25.108	19.332
	PROFIT BEFORE TAX (E-F) (G)		62.407	91.856	42.068
Less	TAX (H)		17.791	31.262	13.245
	PROFIT AFTER TAX (G-H) (I)		44.616	60.594	28.822
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		268.819	224.032	207.993
Less:	Prior Period Expenses		0.475	0.075	3.913
Less:	Excess Depreciation of earlier year written back		0.124	0.000	(0.066)
ADD:	Excess provision written back		0.617	0.000	0.000
Less:	Excess provision for taxation written back		(2.023)	1.706	(0.888)
Less	APPROPRIATIONS
		Transfer to General Reserve	4.690	5.881	2.586
		Dividend	7.012	7.012	6.136
		Tax on Dividend	1.191	1.191	1.042
	BALANCE CARRIED TO THE B/S		301.349	272.173	224.092
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	1009.849	996.711	865.643
	IMPORTS
		Raw Materials	125.390	38.771	30.960
		Stores & Spares	5.720	9.425	4.879
		Plant and Machinery	16.469	19.374	6.131
	TOTAL IMPORTS		147.579	67.570	41.970
	Earnings Per Share (Rs.)		16.72	20.97	10.54

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	3.89	4.84	2.85
Net Profit Margin (PBT/Sales)	(%)	5.48	7.36	4.23
Return on Total Assets (PBT/Total Assets}	(%)	7.63	12.57	6.44
Return on Investment (ROI) (PBT/Networth)		0.14	0.24	0.13
Debt Equity Ratio (Total Liability/Networth)		0.96	0.98	1.09
Current Ratio (Current Asset/Current Liability)		2.97	2.76	2.94

LOCAL AGENCY FURTHER INFORMATION

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 two years	No
12) Profitability for last three years	No
13) Reasons for variation <> 20%	No
14) Estimation for coming financial year	No
15) Capital in the business	No
16) Details of sister concerns	Ni
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	--
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	--

Sundry Creditors Details:

(Rs. In Millions)

PARTICULARS	31.03.2010	31.03.2009	31.03.2008
SUNDRY CREDITORS
Creditors for goods	24.085	25.794	NA
Creditors for expenses	49.285	40.175	NA
Creditors for capital goods	2.431	2.028	NA
Total	75.801	67.997	NA

Note:

The Registered address of the company has been shifted from A-4, Purshottam Buildings, Opera House, Mumbai, Maharashtra, India to present address w.e.f. 13.04.2008

Form 8:

Corporate identity number of the company	U25202MH1985PLC036120
Name of the company	SHANKAR PACKAGINGS LIMITED
Address of the registered office or of the principal place of business in India of the company	303, Turf Estate, Dr. E Moses Road, Shakti Mills Lane, Mumbai-400011, Maharashtra, India E-mail : shankar1@mtnl.net.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10062886
Type of charge	Immovable Property
Particular of charge holder	State Bank of India, Industrial Finance Branch, The Arcade, 2^nd Floor, World Trade Center, Cuffe Parade, Mumbai – 400 005, Maharashtra, India E-mail : laxmi.yadav@sbi.co.in
Nature of instrument creating charge	Supplemental Deed of Mortgage
Date of instrument Creating the charge	10.06.2011
Amount secured by the charge	Rs.960.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest CC- at 4.50% above Base Rate with monthly rest, Term Loans - II and III - 4.75% above Base Rate with monthly rest, SLC - 1% above normal rate applicable to CC and in case of NF comm. at normal rate Terms of Repayment working capital - on demand, Term loan (old) as per existing terms, TL - III (new) repayable in 19 quarterly installments to start from July - Sept - 2012 and last installment in Jan - March - 2017 Margin Raw materials - 10%, SIP, FG - 25%, Receivables (cover period 90 days) 30%, EPC - 10%, L/C - 10%, L/C - stores and spares 25%, BG - 15%, TL-III (new) and project L/C within TL III - 49.43% Extent and Operation of the charge The various credit facilities are collaterally secured by way of mortgage of immovable properties more particularly described in schedule I, II, III and IV of the Supplemental Deed of Mortgage. Others Credit facilities - Cash Credit - Rs.450.000 Millions + SLC - Rs.40.000 Millions + TL- I (o/s) Rs.47.200 Millions + TL- II (O/s) Rs.130.000 Millions + TL - III (new) Rs.160.000 Millions + L/C Rs.100.000 Millions + BG Rs.10.000 Millions + credit exposure limit for forward contract Rs.22.800 Millions aggregating to Rs.960.000 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Leasehold imm. prop. being plot no.3, GIDC Ind. Estate, Waghodia District Vadodara lying upon land inter alia bearing R.S.No.787/p, 789/p, 1102/p adm. 4862.50 sq. mtrs. of Village Waghodia, District Baroda. Leasehold imm. prop. being plot no.4, 5, 6 GIDC Ind. Estate, Waghodia District Vadodara lying upon land inter alia bearing R.S.No.790/p, 790/2/p, 791/p, 792/p and 779/p adm.14812.50 sq.mtrs. of Village Waghodia Leasehold imm. prop. being plot no.1013, GIDC Ind. Estate, Waghodia District Vadodara lying upon land inter alia bearing R.S.No.1542/2/p and 1557/p adm. 1000 sq. mtrs. of Village Waghodia, District Baroda Leasehold imm. prop. being plot no.1034, GIDC Ind. Estate, Waghodia District Vadodara lying upon land inter alia bearing R.S.No. 1499/Part adm. 510 sq. mtrs. of Village Waghodia, District Baroda. Leasehold imm. prop. being plot no.1036 and 1037, GIDC Ind. Estate, Waghodia District Vadodara lying upon land inter alia bearing R.S.No.1549/P and 1550/P adm.1020 sq.mtrs. of Village Waghodia, District Baroda. Leasehold imm. prop. being plot no.1035, GIDC Ind. Estate, Waghodia District Vadodara lying upon land inter alia bearing R.S.No.1499/p adm. 510 sq. mtrs. of Village Waghodia, District Baroda. Leasehold imm. prop. being plot no.2, GIDC Ind. Estate, Waghodia District Vadodara lying upon land inter alia bearing R.S.No.787/p, 789/p and 1182/p adm.5806 sq. mtrs. of Village Waghodia, District Baroda. Leasehold imm. prop. being plot no.1038, GIDC Ind. Estate, Waghodia District Vadodara lying upon land inter alia bearing R.S.No.1551/p adm.1000 sq. mtrs. of Village Waghodia, District Baroda. Leasehold imm. prop. being plot no.1415, GIDC Ind. Estate, Waghodia District Vadodara consisting of R.S.No.39/paiki, 40/paiki, 40/1/paiki, 42/paiki, 43/paiki, 1954/paiki, 1955/paiki, 1956/paiki, 51/2/paiki, 51/paiiki and 49/paiki adm.18797.50 sq. mtrs. of Village Waghodia, District Baroda and plot no.1416, Waghodia Ind. Estate, Waghodia District Vadodara adm.22295.70 sq. mtrs Waghodia, District Baroda.
Date of instrument modifying the charge	07.06.2010
Particulars of the present modification	By this execution the charge extended to cover revised credit facilities from Rs. 796.300 Millions to Rs.960.000 Millions Credit facilities - Cash Credit - Rs.450.000 Millions + SLC - Rs.40.000 Millions + TL- I (o/s) Rs.47.200 Millions + TL- II (O/s) Rs.130.000 Millions + TL - III (new) Rs.160.000 Millions + L/C Rs.100.000 Millions + BG Rs.10.000 Millions + credit exposure limit for forward contract Rs.22.800 Millions aggregating to Rs.960.000 Millions

 Fixed Assets:

· Leasehold Land

· Buildings

· Office Equipments

· Plant and Machinery

· Office and Other Equipments

· Vehicles

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.49.29
UK Pound	1	Rs.78.10
Euro	1	Rs.65.59

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		52

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.