MIRA INFORM REPORT

Report Date :

22.02.2012

IDENTIFICATION DETAILS

Name :	3D TECHNOPACK LIMITED (w.e.f. 30.05.2005 )
Formerly Known As :	VORA CORK INDUSTRIES PRIVATE LIMITED VORA PACKAGING LIMITED VORA PACKAGING PRIVATE LIMITED
Registered Office :	467/A, Vora Bhavan, 2^nd Floor, Opposite Maheswari Udyan, Dr. B. Ambedkar Road, King Circle, Mumbai – 400 019, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	05.09.1986
Com. Reg. No.:	11-040844
Capital Investment / Paid-up Capital :	Rs.273.685 Millions
CIN No.: [Company Identification No.]	U29100MH1986PLC040844
TAN No.: [Tax Deduction & Collection Account No.]	MUMV09679F
PAN No.: [Permanent Account No.]	AAACV0142R
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Seamless Plastic Tubes.
No. of Employees :	1500 (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 1410000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The profitability of the company appears to be under severe pressure. There appears to be huge accumulated losses recorded by the company. However trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with 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 (GENERAL DETAILS)

Name :	Mr. Kumar
Designation :	Key Executive
Contact No.:	91-9820775853
Date :	15.02.2012

LOCATIONS

Registered Office :	467/A, Vora Bhavan, 2^nd Floor, Opposite Maheswari Udyan, Dr. B. Ambedkar Road, King Circle, Mumbai – 400 019, Maharashtra, India
Tel. No.:	91-22-65811091-3/ 24012239
Mobile No.:	91-9820775853 (Mr. Kumar)
Fax No.:	91-22-24035257
E-Mail :	mayur.joshi@3dpackaging.in vijay.rangle@3dpackaging.in info@3dpackaging.fr
Website :	http://www.3dpackaging.fr
Location :	Owned
Factory :	449/6, Masat Industrial Estate, Masat, Silvassa, UT of Dadra and Nagar Havelli – 396 230, India
Tel. No.:	91-260-2640062/ 2640191
Fax No.:	91-260-2640191

DIRECTORS

As on 30.09.2011

Name :

Mr. Bharat Bhagwandas Kewalramani

Designation :

Managing Director

Address :

252-A, Maker Tower-A, Cuff Parade, Colaba, Mumbai – 400 005, Maharashtra, India

Date of Birth/Age :

26.03.1959

Date of Appointment :

27.02.2008

DIN No :

00772687

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	L25201WB1984PLC038030	Datre Corporation Limited	Director	01-01-96	01-01-96	17-09-07	Active	NO
2	U65990MH1996PTC100280	Indocean Chase Capital Advisors Private Limited	Director	14-10-97	14-10-97	-	Active	NO
3	L28992MH1998PLC113433	Piramal Glass Limited	Director	25-07-07	02-04-98	-	Active	NO
4	U51500MH2002PTC138299	Inox Boats and Machinery Private Limited	Director	18-12-02	18-12-02	-	Active	NO
5	U29100MH1986PLC040844	3D Technopack Limited	Managing director	27-02-08	27-02-08	-	Active	NO
6	U92130MH1997PTC108488	Banyan Tree Communications Private Limited	Director	29-09-09	01-06-09	-	Active	NO

Name :

Mr. Manoj Tarachand Mohanka

Designation :

Director

Address :

5, Loveloc Palace, Kolkata – 700 019, West Bengal, India

Date of Birth/Age :

05.03.1963

Date of Appointment :

31.03.2003

DIN No :

00128593

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	L74899DL1993PLC055351	Television Eighteen India Limited	Director	28-12-96	28-12-96	-	Amalgamated	NO
2	L27320WB1997PLC084819	Titagarh Wagons Limited	Director	21-12-01	21-12-01	-	Active	NO
3	U85195WB1998PTC088562	Heritage Health TPA Private Limited	Director	02-08-02	02-08-02	02-02-09	Active	NO
4	U29100MH1986PLC040844	3D Technopack Limited	Director	31-03-03	31-03-03	-	Active	NO
5	U32109WB1979PLC031942	Simoco Telecommunications (South Asia) Limited	Director	08-04-04	08-04-04	06-08-07	Active	NO
6	U75142WB1967SGC026988	West Bengal Industrial Development Corpn Limited	Director	29-12-05	29-12-05	29-06-07	Active	NO
7	L23101AS1961PLC001173	India Carbon Limited	Director	14-09-07	29-06-06	-	Active	NO
8	L65910DL1996PLC076419	Network18 Media and Investments Limited	Director	07-09-07	12-10-06	-	Active	NO
9	L74300DL2005PLC137214	TV18 Broadcast Limited	Director	07-09-07	05-07-07	-	Active	NO
10	L22219DL1955PLC211606	Infomedia 18 Limited	Director	30-09-08	21-08-08	-	Active	NO
11	U72200WB2006PTC111271	Artevea Digital India Private Limited	Director	15-05-09	15-05-09	-	Active	NO
12	U29230WB2010PTC150481	Lucchini (India) Private Limited	Director	18-06-11	02-08-10	-	Active	NO
13	L18101TN2009PLC073017	Indian Terrain Fashions Limited	Additional director	13-12-11	13-12-11	-	Active	NO

Name :

Mrs. Dipika Roy

Designation :

Director

Address :

252, Maker Tower A, Cuffe Parade, Mumbai – 400 005, Maharashtra, India

Date of Birth/Age :

14.01.1961

Date of Appointment :

31.03.2003

DIN No :

00323761

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	U92130MH1997PTC108488	Banyan Tree Communications Private Limited	Director	29-11-99	29-11-99	Active	NO
2	U51500MH2002PTC138299	Inox Boats and Machinery Private Limited	Director	18-12-02	18-12-02	Active	NO
3	U29100MH1986PLC040844	3D Technopack Limited	Director	31-03-03	31-03-03	Active	NO
4	U74900MH2009PTC195665	Banyan Mobile Private Limited	Director	10-09-09	10-09-09	Active	NO

Name :

Mr. Ram Prakash Kewalramani

Designation :

Whole Time Director

Address :

3^rd Floor, Sitaram Prakesh High School, Opposite Vadala Station, Mumbai – 400 031, Maharashtra, India

Date of Birth/Age :

18.01.1982

Date of Appointment :

01.04.2005

DIN No :

00575917

Name :

Mr. Cyrus Adi Bagwadia

Designation :

Director

Address :

A – 10, Rustom Baug, Byculla, Mumbai – 400 027, Maharashtra, India

Date of Birth/Age :

24.01.1947

Date of Appointment :

10.11.2008

DIN No :

01565989

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	L28939PN1987PLC043953	Bilcare Limited	Director	28-07-04	28-07-04	30-09-09	Active	NO
2	U29100MH1986PLC040844	3D Technopack Limited	Director	10-11-08	10-11-08	-	Active	NO
3	U24300MH1989PLC052085	Indian Oxides and Chemicals Limited	Director	11-09-09	11-12-08	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Kumar
Designation :	Key Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Siddharth Sinha	255000
Virtual Machine Limited, Island	18643246
Bharat Kewalramani (Nominee on behalf of Virtual Machine Limited)	1
Pankaj Vora (Nominee on behalf of Virtual Machine Limited)	1
Ram Prakash Kewalramani (Nominee on behalf of Virtual Machine Limited)	1
Dipika Roy (Nominee on behalf of Virtual Machine Limited)	1
Manoj Mohanka (Nominee on behalf of Virtual Machine Limited)	1
Payal Mohanka	476207
Rakesh Jhunjhunwala	13334521
Eliza Hancock	245788
Mrunal Mohanka	237843
Alok Chandra Mishra	242267
Adil and Makduda Zainulbhai	132135
Anuradha Tondon	52854
Sunil Pophale	150137
Adil Siraj Zainulbhai	708262
Azeem Adil Zainulabhai	10570
Manish Gupta	123333
Utpal Sheth	132135
MBCV Holdings Limited, Mauritius	783573
F.A. Hancock	148202
Abhigram Shares and Securities Private Limited, India	18002
Rajendra Tibrewala	116519
Max Burger, Zurich, CH	23705
Sandeep Singhal	23788
Manile Limited, Island	860823
Total	36718915

As on 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	57.08
Bodies corporate	0.05
Directors or relatives of directors	1.95
Others	40.92
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Seamless Plastic Tubes.
Products :	Seamless Plastic Tubes
Exports :
Products :	Seamless Plastic Tubes
Countries :	v Dubai v Europe v UAE v Australia
Imports :
Products :	Machinery
Countries :	v China v Qatar
Terms :
Selling :	Cash and Credit (60/ 90 days)
Purchasing :	Cash and Credit

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Installed Capacity @ In ‘000	Production In ‘000
Seamless Plastic Tubes	80000	63159

@ As certified by a Director and relied upon by the Auditors, this being a technical matter.

GENERAL INFORMATION

Customers :

Manufacturer/ Corporate

No. of Employees :

1500 (Approximately)

Bankers :

v The Saraswat Co-operative Bank Limited, Matunga (East) Branch, Pioneer High School Building, Telang Road, Matunga (East) (CR), Mumbai - 400 019, Maharashtra, India

v HDFC Bank Limited

v ING Vysya Bank Limited

Facilities :

Secured Loan	31.03.2010 (Rs. in Millions)	31.03.2009 (Rs. in Millions)
Cash Credit Facilities with ING Vysya Bank Limited (Secured by immovable properties of the company and personal guarantee of managing director)	0.000	8.834
Cash Credit Facilities with Saraswat Co-operative Bank Limited (Secured by Book Debts, stocks and other movable properties of the company and personal guarantee of managing director.)	69.984	0.000
Vehicle Loan
From HDFC Bank Limited	0.000	0.434
From Reliance Capital Limited	0.103	0.220
From Kotak Mahindra Prime Limited	4.687	0.000
From Shiram Transport Finance Company Limited	0.188	0.000
(Secured by hypothecation of vehicles)
Suppliers Credit (Secured against the specific assets supplied by party)	51.514	0.000
Total	126.476	9.488

Unsecured Loan	31.03.2010 (Rs. in Millions)	31.03.2009 (Rs. in Millions)
From Companies [Amount Repayable within one year Rs. Nil (Previous year Rs. 1.156 millions)]	0.000	1.156
From ING Vysya Bank Limited (Against pledge of Fixed Deposits by Managing Director)	0.000	1.209
Total	0.000	2.366

Banking Relations :	--
Name :	Contractor, Nayak and Kishnadwala Chartered Accountant
Address :	1-B, 1^st Floor, Pushpam, K.D. Road, Vile Parle (West), Mumbai – 400 056, Maharashtra, India
Tel. No.:	91-22-26286909/ 26284083/ 65159339
Fax No.:	91-22-26286747
PAN No.:	AACFC8587E
Holding Company :	Virtual Machine Limited, Island
Fellow Subsidiaries :	3D Packaging F.Z.E. Saif Zone Sharjah (Wholly owned subsidiary of the company)

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
38000000	Equity Shares	Rs.10/- each	Rs.380.000 Millions

Issued & Subscribed Capital :

No. of Shares	Type	Value	Amount
36718915	Equity Shares	Rs.10/- each	Rs.367.189 Millions

Paid-up Capital :

No. of Shares	Type	Value	Amount
36718915	Equity Shares	Rs.10/- each	Rs.367.042 Millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
33000000	Equity Shares	Rs.10/- each	Rs.330.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
27383149	Equity Shares	Rs.10/- each	Rs.273.831 Millions
Less	Call in arrears		Rs.0.146 Million
	Total		Rs.273.685 Millions

Note:

(Out of the above 840000 equity shares are issued as fully paid up bonus shares by capitalisating general reserve)

(Of the above 18643251 (Previous year 18052269) shares are held by holding company Virtual Machines Limited.)

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		273.685	256.490	216.271
2] Share Application Money		68.000	4.043	25.506
3] Reserves & Surplus		301.230	286.420	172.256
4] (Accumulated Losses)		(290.463)	(258.158)	(206.940)
NETWORTH		352.452	288.795	207.093
LOAN FUNDS
1] Secured Loans		126.476	9.488	1.459
2] Unsecured Loans		0.000	2.366	59.247
TOTAL BORROWING		126.476	11.854	60.706
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		478.928	300.649	267.799
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		283.709	215.821	149.783
Capital work-in-progress		55.950	10.072	12.653
INVESTMENT		0.025	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	41.775	35.506	29.378
	Sundry Debtors	92.259	60.006	45.532
	Cash & Bank Balances	54.820	7.519	37.755
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	12.848	15.061	26.415
Total Current Assets		201.702	118.092	139.080
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	43.148	28.635	24.323
	Other Current Liabilities	8.604	6.744	4.090
	Provisions	10.706	7.957	5.304
Total Current Liabilities		62.458	43.336	33.717
Net Current Assets		139.244	74.756	105.363
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		478.928	300.649	267.799

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	310.638	194.331	143.462
		Design and Development Charges	0.644	0.315	0.945
		Exchange rate fluctuations	(1.054)	6.432	(3.917)
		Other Income	9.481	3.841	2.083
		TOTAL (A)	319.709	204.919	142.573
Less	EXPENSES
		Material Consumed	178.461	105.799	69.567
		Payment and benefits to employees	46.708	34.213	26.823
		Power and Fuel Expenses	20.010	17.265	10.900
		Manufacturing Expenses	24.082	23.109	16.154
		Administrative Expenses	15.957	12.395	13.721
		Selling and Distribution Expenses	5.097	6.051	6.145
		Export Freight and Expenses	7.307	13.386	16.027
		Loss on Sale / Scrap of Assets	0.000	0.000	0.343
		TOTAL (B)	297.622	212.218	159.680
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		22.087	(7.299)	(17.107)
Less	FINANCIAL EXPENSES (D)		3.248	2.829	2.398
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		18.839	(10.128)	(19.505)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		51.144	40.564	27.364
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(32.305)	(50.692)	(46.869)
Less	TAX (H)		0.000	0.550	0.519
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(32.305)	(51.242)	(47.388)
	EXCESS / SHORT PROVISION FOR TAX		0.000	0.024	0.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(258.158)	(206.940)	(159.552)
	BALANCE CARRIED TO THE B/S		(290.463)	(258.158)	(206.940)
	F.O.B. VALUE EXPORT		44.262	45.265	44.475
	IMPORTS
		Raw Materials	31.965	23.405	6.204
		Capital Goods	74.449	57.156	8.543
		Consumable Store & Spares	4.093	2.387	1.912
	TOTAL IMPORTS		110.507	82.948	16.659
	Earnings / (Loss) Per Share (Rs.)		(1.23)	(2.17)	(3.13)

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	(10.10)	(25.01)	(33.24)
Net Profit Margin (PBT/Sales)	(%)	(10.40)	(26.09)	(32.67)
Return on Total Assets (PBT/Total Assets}	(%)	(6.65)	(15.11)	(16.23)
Return on Investment (ROI) (PBT/Networth)		(0.09)	(0.18)	(0.23)
Debt Equity Ratio (Total Liability/Networth)		0.54	0.19	0.46
Current Ratio (Current Asset/Current Liability)		3.23	2.76	4.12

LOCAL AGENCY FURTHER INFORMATION

Details of Sundry Creditors:

Particulars	31.03.2010 (Rs. in millions)	31.03.2009 (Rs. in millions)	31.03.2008 (Rs. in millions)
Sundry Creditors
- Total outstanding dues to Small and Micro Enterprises	--	--	--
- Others	43.148	28.635	24.323
	43.148	28.635	24.323

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	No
12) Profitability for last three years	No
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	No
16) Details of sister concerns	--
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	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	--

OPERATIONS:

The Company has performed satisfactorily during the year. In a highly competitive business environment, the Company achieved higher turnover of Rs.332.452 millions in respect of Rs.211.367 millions from previous year. The Company was cash profitable for the first time in 7 years and will, this year, move to net profitability based on higher volumes for which capacity will be installed in July.

SHARE CAPITAL:

Authorised Share Capital

The authorised share capital of the Company was increased twice during the year. It was increased from Rs.260.000 millions Rs.280.000 millions in the EGM held on 24^th August, 2009 and was further increased from Rs.280.000 millions to Rs.330.000 millions in the EGM held on 25^th January, 2010.

Paid up capital

The paid up capital of the Company was increased by way of preferential allotment thrice during the year. It was increased horn Rs.256.637 millions to 273.831 millions during the year.

Contingent Liability in respect of:

Particulars	31.03.2010 (Rs. in millions)
a) Estimated amount of contracts to be Executed in capital account and provided Advance paid there against	104.617
b) Guarantee issued on behalf of company	27.877
c) Claims not acknowledged as debts	1.625
d) Customs Duty Payable on import of machinery pending fulfillment of export obligation	0.000
	58.815

FORM 8

Corporate identity number of the company	U29100MH1986PLC040844
Name of the company	3D TECHNOPACK LIMITED
Address of the registered office or of the principal place of business in India of the company	467/A, Vora Bhavan, 2^nd Floor, Opposite Maheswari Udyan, Dr. B. Ambedkar Road, King Circle, Mumbai – 400 019, Maharashtra, India E-Mail: vijay.rangle@3dpackaging.in
This form is for	Creation of charge
Type of charge	Movable Property (not being pledge)
Particular of charge holder	The Saraswat Co-operative Bank Limited, Matunga (East) Branch, Pioneer High School Building, Telang Road, Matunga (East) (CR), Mumbai - 400 019, Maharashtra, India E-Mail: njbhatia@rediffmail.com
Nature of description of the instrument creating or modifying the charge	Agreement of Hypothecation of Movable Property
Date of instrument Creating the charge	16.12.2011
Amount secured by the charge	Rs.35.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: PLR+ 1% p.a. i.e.15.5% or at such rate as may be determined by the bank from time to time Terms of Repayment: 60 months Margin: 30% Extent and Operation of the charge: This is term loan II facility
Short particulars of the property charged	Hypothecation of all the plant and machinery, tangible movable property (both present and future)belonging to the borrower and lying and being at the borrowers place of business at 467A, Vora Bhuvan, R.No34, 2^nd Floor, Matunga, Mumbai 19 or Survey No.449/6, 449/5, 449/5/2 ,449/3, 554/4 Masat Industrial Estate Masat Village Amli 272/2/1 Athal Village Union Territory of Dadra and Nagar Haveli Silvassa Survey No.66/1 Danudyog Shakari Sangh or wherever else the same maybe.

Corporate identity number of the company	U29100MH1986PLC040844
Name of the company	3D TECHNOPACK LIMITED
Address of the registered office or of the principal place of business in India of the company	467/A, Vora Bhavan, 2^nd Floor, Opposite Maheswari Udyan, Dr. B. Ambedkar Road, King Circle, Mumbai - 400 019, Maharashtra, India
This form is for	Modification of charge
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	The Saraswat Cooperative Bank Limited, matunga East Branch, Pioneer High School Building, Telang Road, Matunga (East), Mumbai – 400 019, Maharashtra, India
Nature of instrument creating charge	Agreement of Hypothecation of Movable Property
Date of instrument Creating the charge	22.02.2011
Amount secured by the charge	Rs.100.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest 14.5%p.a. or at such rate as may be determined by the bank from time to time Terms of repayment On demand Margin 30% Extent and operation of the charge This is cash credit facility
Short particulars of the property charged (Including location of the property)	Hypothecation of all the stock and debtors less creditors, current asset tangible movable property (both present and future) belonging to the borrower and lying and being at the borrowers place of business at 467A, Vora Bhuvan, R.No.34, 2^nd Floor, Matunga, Mumbai 19 or at Masat Union Territory of Dadra and Nagar Haveli Silvasa or wherever else the same maybe. Hypothecation of all the book debts, out standings, monies, receivable, claims and bills.
Charge identification number of the charge to be modified	10205773
Particulars of the present modification	Cash credit limit enhanced from Rs.70.000 millions to Rs.100.000 millions (additional Rs.30.000 millions)

FIXED ASSETS:

v Freehold Land

v Buildings

v Leasehold Improvement

v Air Conditioning System

v Plant and Machinery

v Moulds, Tools and Dies

v Generator Set

v Electric Installations

v Equipment

v Computers

v Furniture

v Vehicle

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.49.08
UK Pound	1	Rs.77.80
Euro	1	Rs.65.17

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	-
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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	YES
--AFFILIATION	YES/NO	YES
--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.