MIRA INFORM REPORT

Report Date :

31.07.2012

IDENTIFICATION DETAILS

Name :	P P PRODUCTS PRIVATE LIMITED

Registered Office :	16 A, Chowringhee Mansions, J L Nehru Road, Kolkata-700016, West Bengal

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	12.03.1991

Com. Reg. No.:	21-051091

Capital Investment / Paid-up Capital :	Rs.34.446 Millions

CIN No.: [Company Identification No.]	U32305WB1991PTC051091

TAN No.: [Tax Deduction & Collection Account No.]	CALP04580C

PAN No.: [Permanent Account No.]	AABCP5663N

Legal Form :	Private Limited Liability Company

Line of Business :	Trade of Polymers

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 600000

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Comments :	Subject is an established company having Satisfactory track record. There appears sharp dip in the profitability of the company. However, trade relation are reported to be fair. Business is active. Payment are reported to be usually correct and as per commitment. The company can be considered normal for business dealing 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.

ECGC Country Risk Classification List – June 30, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

India

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

RBI DEFAILTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAILTERS’ 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.

LOCATIONS

Registered Office :	16 A, Chowringhee Mansions, J L Nehru Road, Kolkata-700016, West Bengal, India
Tel. No.:	91-33-22174522
Fax No.:	91-33-22275895
E-Mail :	r.ramsisaria@yahoo.co.in ho@sbassociates.co.in

Corporate Office :	37/12-1, Archana Complex, 4^th Cross, Lalbagh Road, Bangalore, India
Tel. No.:	91- 80- 22226081/ 22955159/ 22955239

DIRECTORS

As on 30.09.2011

Name :

Mr. Suresh Kumar Ramsisaria

Designation :

Director

Address :

C/O Shyam Plastic Consultants, # 37/12-1, Archana Complex, 4^th Cross, Lalbagh Road, Bangalore- 560027, Karnataka, India

Date of Birth/Age :

10.07.1962

Date of Appointment :

10.03.2010

PAN No.:

ADEPR8800Q

DIN No.:

00312362

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	U74950KA1984PTC006590	PRADEEP INDSUTRIAL PACKERS PRIVATE LIMITED	Director	28/01/1985	28/01/1985	20/06/2009	Active	NO
2	U51909WB1990PLC048568	TARAJYOT POLYMERS LTD	Director	11/12/1995	11/12/1995	-	Active	NO
3	U65993WB1985PLC048162	VISURA TRADING & INVESTMENT INDIA LTD	Director	15/11/1996	15/11/1996	-	Active	NO
4	U51109WB1995PTC073676	CHAKRAPANI VYAPAR PRIVATE LIMITED	Director	11/09/2002	11/09/2002	05/11/2008	Active	NO
5	U05190KA2005PTC036305	MURARI TRADING PRIVATE LIMITED	Director	13/05/2005	13/05/2005	-	Active	NO
6	U15311KA1970PTC001889	SEETHALAKSHMI HALL FLOUR MILLS PRIVATE LIMITED	Director	21/07/2005	21/07/2005	-	Active	NO
7	U70101KA2005PTC037217	TORTOISE REAL ESTATES PRIVATE LIMITED	Director	14/09/2005	14/09/2005	25/01/2010	Active	NO
8	U51909KA2006PTC038208	SHYAM FINTRADE PRIVATE LIMITED	Director	10/01/2006	10/01/2006	-	Active	NO
9	U51495KA2006PTC038198	KAMDHENU POLYTECH PRIVATE LIMITED	Director	10/01/2006	10/01/2006	01/11/2008	Active	NO
10	U25209DL2004PTC127015	D N S FAB PRIVATE LIMITED	Director	17/08/2006	17/08/2006	21/08/2007	Active	NO
11	U51495WB1989PTC047770	TARAJYOT ENTERPRISES PVT LTD	Director	26/02/2007	26/02/2007	25/08/2011	Active	NO
12	U51495KA2005PTC037334	SHYAM GANGA TRADERS PRIVATE LIMITED	Director	10/05/2007	10/05/2007	-	Active	NO
13	U24134KA2007PTC042801	SWIFT POLYMERS PRIVATE LIMITED	Director	15/05/2007	15/05/2007	-	Active	NO
14	U25209KA2006PTC038704	SHYAM FINCOM PRIVATE LIMITED	Director	01/06/2007	01/06/2007	-	Active	NO
15	U25209KA2007PTC043037	SPRINT PLASTICS PRIVATE LIMITED	Director	06/06/2007	06/06/2007	-	Active	NO
16	U17114KA2006PTC038802	AMBIKA COTFAB BANGALORE PRIVATE LIMITED	Director	15/09/2007	15/09/2007	04/02/2008	Active	NO
17	U25209KA2008PTC045577	CSM POLYMERS PRIVATE LIMITED	Director	12/03/2008	12/03/2008	13/11/2009	Active	NO
18	U67120KA1986PTC007516	ABHINANDAN INVESTMENTS PRIVATE LIMITED	Director	14/03/2008	14/03/2008	-	Active	NO
19	U51102KA2005PTC035897	SHYAM AGENCY PRIVATE LIMITED	Director	14/03/2008	14/03/2008	31/03/2009	Active	NO
20	U24139KA2008PTC045662	WELNET POLYMERS PRIVATE LIMITED	Director	18/03/2008	18/03/2008	15/05/2009	Active	NO
21	U25200KA2008PTC045388	JURONG POLYMERS PRIVATE LIMITED	Director	14/05/2009	14/05/2009	17/01/2011	Active	NO
22	U70100KA2007PTC043038	JARDINE ESTATES PRIVATE LIMITED	Director	14/05/2009	14/05/2009	25/01/2011	Active	NO
23	U65910KA1996PTC021091	NEW AGE VANILLA & SPICE PRIVATE LIMITED	Director	27/08/2009	27/08/2009	-	Active	NO
24	U32305WB1991PTC051091	P P PRODUCTS PVT LTD	Director	10/03/2010	10/03/2010	-	Active	NO
25	U25201WB1998PTC087099	KAMDHENU POLYMERS PRIVATE LIMITED	Director	10/03/2010	10/03/2010	01/09/2011	Active	NO
26	U25206KA2011PTC057034	NISSAN POLYMERS PRIVATE LIMITED	Director	11/02/2011	11/02/2011	-	Active	NO
27	U25199KA2011PTC057338	MANZA POLYMERS PRIVATE LIMITED	Director	02/03/2011	02/03/2011	-	Active	NO
28	U25200KA2011PTC057339	ETIOS POLYMERS PRIVATE LIMITED	Director	03/03/2011	03/03/2011	-	Active	NO
29	U25190KA2011PTC059596	UDHBHAV POLYMERS PRIVATE LIMITED	Director	14/07/2011	14/07/2011	-	Active	NO
30	U25209KA2011PTC059625	APARAJEET POLYMERS PRIVATE LIMITED	Director	19/07/2011	19/07/2011	-	Active	NO
31	U70109KA2011PTC060826	SHUBHANKAR ESTATES PRIVATE LIMITED	Director	14/10/2011	14/10/2011	-	Active	NO
32	U70100KA2011PTC060870	VIDYAVARIDHI ESTATES PRIVATE LIMITED	Director	19/10/2011	19/10/2011	-	Active	NO
33	U25190KA2011PTC060866	SHUBHANKAR POLYMERS PRIVATE LIMITED	Director	19/10/2011	19/10/2011	09/11/2011	Active	NO
34	U25200KA2011PTC061005	MAHAMAYO POLYMERS PRIVATE LIMITED	Director	01/11/2011	01/11/2011	21/05/2012	Active	NO
35	U25203KA2011PTC061078	SHWETAMBAR POLYMERS PRIVATE LIMITED	Director	04/11/2011	04/11/2011	-	Active	NO
36	U25200KA2011PTC061114	SAKSHI POLYMERS PRIVATE LIMITED	Director	09/11/2011	09/11/2011	-	Active	NO
37	U25199KA2011PTC061428	ADIDEV POLYMERS PRIVATE LIMITED	Director	30/11/2011	30/11/2011	-	Active	NO
38	U29130HR2010PTC039975	KRP AUTO INDUSTRIES Private Limited	Director	14/12/2011	14/12/2011	-	Active	NO
39	U25200KA2012PTC062663	LAKSHMIWAN POLYMERS PRIVATE LIMITED	Director	22/02/2012	22/02/2012	-	Active	NO
40	U25194KA2012PTC063328	AVYUKTA POLYMERS PRIVATE LIMITED	Director	30/03/2012	30/03/2012	-	Active	NO
41	U25199KA2012PTC063970	ABHIJEET POLYMERS PRIVATE LIMITED	Director	14/05/2012	14/05/2012	-	Active	NO
42	U25200KA2012PTC064116	DANTA POLYMERS PRIVATE LIMITED	Director	23/05/2012	23/05/2012	-	Active	NO
43	U25200KA2012PTC064322	PATRADHARINI POLYMERS PRIVATE LIMITED	Director	08/06/2012	08/06/2012	-	Active	NO
44	U25190KA2012PTC064321	VARADA POLYMERS PRIVATE LIMITED	Director	08/06/2012	08/06/2012	-	Active	NO
45	U25200KA2012PTC064371	ADIPURUSH POLYMERS PRIVATE LIMITED	Director	13/06/2012	13/06/2012	-	Active	NO
46	U25200KA2012PTC064718	ASHUTOSH POLYMERS PRIVATE LIMITED	Director	04/07/2012	04/07/2012	-	Active	NO
47	U25199KA2012PTC064840	GIRIVAR POLYMERS PRIVATE LIMITED	Director	13/07/2012	13/07/2012	-	Active	NO
48	U25200KA2012PTC064943	JAIKAPEESH POLYMERS PRIVATE LIMITED	Director	20/07/2012	20/07/2012	-	Active	NO

Name :

Mr. Chandra Prakash Ramsisaria

Designation :

Director

Address :

37/ 2- 1, Archana Complex, 4^th Cross, Lalbagh Road, Bangalore- 560027, Karnataka, India

Date of Appointment :

30.09.1994

DIN No.:

00312494

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	U51909WB1984PLC037373	SHYAM TEXTILES LIMITED	Director	13/06/1984	13/06/1984	-	Active	NO
2	U74950KA1984PTC006590	PRADEEP INDSUTRIAL PACKERS PRIVATE LIMITED	Director	28/01/1985	28/01/1985	15/06/2009	Active	NO
3	U51909WB1990PLC048568	TARAJYOT POLYMERS LTD	Managing director	15/11/2010	27/04/1994	-	Active	NO
4	U32305WB1991PTC051091	P P PRODUCTS PVT LTD	Director	30/09/1994	30/09/1994	-	Active	NO
5	U25202KA1996PTC019913	SHYAM SYNTHETICS PRIVATE LIMITED	Director	23/02/1996	23/02/1996	-	Active	NO
6	U51495KA1999PTC025605	SEVEN SEAS POLYMERS PRIVATE LIMITED	Director	17/08/1999	17/08/1999	01/10/2008	Active	NO
7	L25200TN1985PLC011622	VIRGO POLYMERS INDIA LIMITED	Director	29/05/2000	29/05/2000	25/08/2011	Active	NO
8	U72900KA2000PTC027421	SHYAM GODAVARI STEELS PRIVATE LIMITED	Whole-time director	27/07/2000	27/07/2000	-	Active	NO
9	U02423KA2004PTC033513	GYAN GANGA MEDICAL KENDRA PRIVATE LIMITED	Director	04/03/2004	04/03/2004	-	Active	NO
10	U51909KA2006PTC038208	Shyam Fintrade Private Limited	Director	10/01/2006	10/01/2006	-	Active	NO
11	U24134KA2006PTC038205	Alto Polymers Private Limited	Director	10/01/2006	10/01/2006	-	Active	NO
12	U25206KA2003PTC031514	AMBIKA EXTRUDERS PRIVATE LIMITED	Director	06/02/2006	06/02/2006	-	Active	NO
13	U67120KA1986PTC007516	ABHINANDAN INVESTMENTS PRIVATE LIMITED	Director	27/04/2007	27/04/2007	-	Active	NO
14	U05190KA2005PTC035996	BHAVANI POLYMERS PRIVATE LIMITED	Director	15/05/2007	15/05/2007	-	Active	NO
15	U24134KA2007PTC042801	SWIFT POLYMERS PRIVATE LIMITED	Director	15/05/2007	15/05/2007	-	Active	NO
16	U65910KA1996PTC021091	NEW AGE VANILLA & SPICE PRIVATE LIMITED	Director	30/05/2007	30/05/2007	-	Active	NO
17	U25209KA2006PTC038704	SHYAM FINCOM PRIVATE LIMITED	Director	01/06/2007	01/06/2007	-	Active	NO
18	U25209KA2007PTC043037	SPRINT PLASTICS PRIVATE LIMITED	Director	06/06/2007	06/06/2007	-	Active	NO
19	U70100KA2007PTC043038	JARDINE ESTATES PRIVATE LIMITED	Director	06/06/2007	06/06/2007	11/03/2011	Active	NO
20	U70102KA2007PTC043044	MMS ESTATES PRIVATE LIMITED	Director	07/06/2007	07/06/2007	13/11/2008	Active	NO
21	U67120KA1977PTC003260	DEESONS PRIVATE LIMITED	Director	18/06/2007	18/06/2007	-	Active	NO
22	U14102KA2007PTC043203	P P GRANITES PRIVATE LIMITED	Director	22/06/2007	22/06/2007	-	Active	NO
23	U40101WB1997PLC083230	TOTAL ENERGY GROUP LIMITED	Director	16/07/2007	16/07/2007	-	Active	NO
24	U25200KA2008PTC045388	JURONG POLYMERS PRIVATE LIMITED	Director	25/02/2008	25/02/2008	20/05/2011	Active	NO
25	U25200KA2008PTC045464	PUSAN TEXTRADE PRIVATE LIMITED	Director	29/02/2008	29/02/2008	14/03/2011	Active	NO
26	U51102KA2005PTC035897	SHYAM AGENCY PRIVATE LIMITED	Director	01/07/2010	14/03/2008	-	Active	NO
27	U25201WB1998PTC087099	KAMDHENU POLYMERS PRIVATE LIMITED	Director	01/08/2008	01/08/2008	01/09/2011	Active	NO
28	U36900WB2001PTC092957	KAMDHENU LABELS PRIVATE LIMITED	Director	18/01/2010	18/01/2010	-	Active	NO
29	U25206KA2011PTC057034	NISSAN POLYMERS PRIVATE LIMITED	Director	11/02/2011	11/02/2011	-	Active	NO
30	U25199KA2011PTC057338	MANZA POLYMERS PRIVATE LIMITED	Director	02/03/2011	02/03/2011	-	Active	NO
31	U25200KA2011PTC057339	ETIOS POLYMERS PRIVATE LIMITED	Director	03/03/2011	03/03/2011	-	Active	NO
32	U25190KA2011PTC059596	UDHBHAV POLYMERS PRIVATE LIMITED	Director	14/07/2011	14/07/2011	-	Active	NO
33	U25209KA2011PTC059625	APARAJEET POLYMERS PRIVATE LIMITED	Director	19/07/2011	19/07/2011	-	Active	NO
34	U24132KA2001PTC061131	MIDCON POLYMERS PRIVATE LIMITED	Director	19/03/2012	19/03/2012	-	Active	NO
35	U25190KA2012PTC064321	VARADA POLYMERS PRIVATE LIMITED	Director	08/06/2012	08/06/2012	-	Active	NO
36	U25200KA2012PTC064567	BHUDEVA POLYMERS PRIVATE LIMITED	Director	26/06/2012	26/06/2012	-	Active	NO
37	U25209KA2012PTC064563	RAMACHANDRA POLYMERS PRIVATE LIMITED	Director	26/06/2012	26/06/2012	-	Active	NO
38	U25200KA2012PTC064940	DAYASARA POLYMERS PRIVATE LIMITED	Director	20/07/2012	20/07/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders		No. of Shares
Niraj Ramsisaria		11850
Manish Ramsisaria		200
Vandana Ramsisaria		100
Aditi Ramsisaria		5500
Ramjit Pandey		10560
Ramawtar Ramsisaria		5000
Sunita Ramsisaria		5000
Nidhi Sonthalia		8000
Aditya Sonthalia		6500
Mahendra Kumar Jain		3000
Chandra Prakash Ramsisaria		5000
Karan Ramsisaria		5000
Lalit Ramsisaria		5000
Pramod Kumar Singh		5000
Murari Lal Dhandhania		5000
Sunil Bohra		3000
L.R. Veena		3000
Raj Kumar Singh		7500
Santosh Maskara		5000
Santosh Sharma		5000
Bishnu Sharma		5000
Arun Kumar		5000
Rajesh Bihani Sharma		6000
Manju Ramsisaria		5000
Piyush Fiscal Limited, India		99000
Om Prakash Lohia		12500
S. Ramesh		10000
Gokul Yadav		8000
Ramawtar Saraswat		15250
Praveen Kumar Yadav		7500
Basanth Verma		5000
Brijesh Verma		5000
Ardhendu Salui		5000
Ratikanth Kar		5000
M.U. Satish Kumar		5000
Kedar Dangi		5000
Macklin Manjula		7000
Manish Begani		5000
Govind Rana		5000
Umesh Singh		10000
Arun Singh		10000

Total		344460

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Bodies corporate	28.74
Directors or relatives of Directors	13.83
Other top fifty shareholders	57.43
Total	100.00

BUSINESS DETAILS

Line of Business :

Trade of Polymers

Products :

HS Code	Product Description
39011009	Linear Low Density Polyethylene Ll 1001 Kw
39011010	Linear Low Density Polythylene 1002kw
39012000	High Density Polythylene Hta001hd
39041010	Polyvinyl Chloride Resin Shintech Se950
39041090	Polyvinyl Chloride Resin S 67-04

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India, Commercial Branch, Industrial Estate, Rajaji Nagar, Bangalore- 560044, Karnataka, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Secured loans [abstract]
Working capital loans secured [abstract]
Working capital loans banks secured	43.566	32.382
Loans taken for fixed assets secured [abstract]
Loans taken for vehicles secured	0.099	0.154
Total	43.665	32.536

Note:

· Working Capital Loan from Bank Rs.43.565 Millions

Working Capital Loan from Bank is secured by Stock, Debtors, other Current Assets and Personal Guarantee of some of the Directors.

· Vehicle Loan From HDFC Bank is Secured by hypothecation of Motor Car Rs.0.099 Million

Banking Relations :	----

Auditors :
Name :	S. Bhalotia and Associates Chartered Accountants
Address :	20B, BRITISH INDIAN STREET, EAST INDIA HOUSE, 1ST FLR, ROOM NO. 1F, KOLKATA- 700 069
Tel. No.:	91- 33- 40047183/84, 91- 33- 40047188 91- 33- 40070953
Fax No.:	91- 33- 40047016
E-Mail :	ho@sbassociates.co.in
PAN :	ABDFS9117L

Associates/Subsidiaries :	· Tarajyot Polymers Limited · Shyam Textiles Limited · Kamdhenu Polymers Private Limited. · Annapurna Packaging Industries Private Limited · Shyam Plastic Consultants

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital:

No. of Shares	Type	Value	Amount

350000	Equity Shares	Rs.100/- each	Rs.35.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

344460	Equity Shares	Rs.100/- each	Rs.34.446 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		34.446	34.446	34.446
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		116.252	107.344	76.174
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		150.698	141.790	110.620
LOAN FUNDS
1] Secured Loans		43.664	32.536	10.245
2] Unsecured Loans		0.000	0.000	60.874
TOTAL BORROWING		43.664	32.536	71.119
DEFERRED TAX LIABILITIES		0.015	0.000	0.000

TOTAL		194.377	174.326	181.739

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		2.408	2.415	2.431
Capital work-in-progress		0.369	0.000	0.000

INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	5.310	5.001

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	245.421	107.556	87.138
	Sundry Debtors	10.839	283.259	266.132
	Cash & Bank Balances	42.561	127.441	101.067
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	50.167	58.927	52.947
Total Current Assets		348.988	577.183	507.284
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	149.289	401.383	326.831
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	8.099	9.199	6.146
Total Current Liabilities		157.388	410.582	332.977
Net Current Assets		191.600	166.601	174.307

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		194.377	174.326	181.739

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	1176.802	1339.694	1135.509

Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		Financial Expenses
		TOTAL	1163.222	1308.658	1151.608

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		13.580	31.036	(16.099)

Less/ Add	DEPRECIATION/ AMORTISATION		0.159	0.176	0.194

	PROFIT BEFORE TAX		13.421	30.860	(16.293)

Less	TAX		4.513	0.309	4.987

	PROFIT AFTER TAX		8.908	31.169	(11.306)

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		39.719	8.549	19.856

	BALANCE CARRIED TO THE B/S		48.627	39.718	8.550

	Earnings Per Share (Rs.)		25.86	0.00	0.00

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.76	2.33	(0.99)

Net Profit Margin (PBT/Sales)	(%)	N.A	N.A	N.A

Return on Total Assets (PBT/Total Assets}	(%)	3.82	5.32	(3.20)

Return on Investment (ROI) (PBT/Networth)		0.09	0.22	(0.15)

Debt Equity Ratio (Total Liability/Networth)		1.33	3.12	3.65

Current Ratio (Current Asset/Current Liability)		2.22	1.40	1.52

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	No
6]	Line of Business	No
7]	Promoter's background	------
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
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	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
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]	Passport No of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U32305WB1991PTC051091
Name of the company	P P PRODUCTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	16 A, Chowringhee Mansions, J L Nehru Road, Kolkata-700016, West Bengal Email: ho@sbassociates.co.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10082856
Type of charge	· Immovable property · Book debts · Movable property (not being pledge) · Floating charge · Stocks, receivable & other current Assets
Particular of charge holder	State Bank of Travancore (Commercial Branch), 3^rd Floor, Vayudhoot Chambers, Trinity Junction, Bangalore- 560001, Karnataka, India Email: cbbangalore@sbt.co.in
Nature of instrument creating charge	· Form C&I- 8: Supplemental Agreements of Loan for Increase in the overall working capital Limit. · Form A25(2a): memorandum of extension of Equitable Mortgage.
Date of instrument Creating the charge	07.02.2011
Amount secured by the charge	Rs. 305.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest CC: interest @ 6.10% above SBT base rate with monthly rests. Terms of Repayment CC: Repayable on demand Margin CC : 25% stocks & 50% receivables LC : 20% Extent and Operation of the charge Hypothecation of entire stocks of raw materials, receivables, book debts and other current assets on pari passu basis with State Bank of India, Commercial Branch, Rajajinagar, Bangalore Collateral security by EM created by deposit of title deed of immovable property to the extent of total Rs.610.000 Millions as (SBI=LC Rs.275.000 Millions, BG: Rs.5.000 Millions & CC 25.000 Millions) & (SBT= LC: Rs.280.000 Millions, & CC Rs.25.000 Millions) on pari passu basis with State Bank of India, Specialised Mid Corporate Branch, Kumara Park, Bangalore-560020. Others Corporate Guarantee of M/s. Midcon Polymers Private Limited offered. Personal Guarantee of · Chandra Prakash Ramsisaria, · Ramawtar Ramsisaria, · Mrs Bimla Devi Ramsisaria, · Mrs Nupur Ramsisaria, · Mrs Sunita Devi Ramsisaria · Suresh Kumar Ramsisaria. Cash Collateral of Rs 5.000 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Particulars of the properties provided as collateral security by Equitable Mortgage on parri passu basis with State Bank of India, Bangalore is attached.
Particulars of the present modification	The Total Limits are Rs.305.000 Millions

FIXED ASSETS:

· Land

· Plant and Machinery

· Office equipment

· Scooter

· Car

· Computer and Software

· Furniture and Fittings

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.55.80
UK Pound	1	Rs.87.67
Euro	1	Rs.68.45

INFORMATION DETAILS

Report Prepared by :

MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		43

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.

MIRA INFORM REPORT

245.421

10.839

42.561

0.000

50.167

348.988

149.289

0.000

8.099

157.388

191.600

0.76

N.A

3.82

0.09

1.33

2.22

Unit