MIRA INFORM REPORT

Report Date :

06.06.2012

IDENTIFICATION DETAILS

Name :	ARIHANT POLYMOULDS AND POLYMERS PRIVATE LIMITED
Registered Office :	29/1- D-II Block, KSB Chowk, MIDC, Chinchwad, Pune – 411 019, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	04.01.1995
Com. Reg. No.:	11 – 84314
Capital Investment / Paid-up Capital :	Rs.0.500 Million
CIN No.: [Company Identification No.]	U51909MH1995PTC084314
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Flexible Packaging
No. of Employees :	20 (Approximately)

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 4000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. Profit and Loss a/c is not available

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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

INFORMATION PARTED BY

Name :	Mr. Yogesh
Designation :	Director
Contact No.:	91-9371105293
Date :	05.06.2012

LOCATIONS

Registered Office / Factory :	29/1- D-II Block, KSB Chowk, MIDC, Chinchwad, Pune – 411 019, Maharashtra, India
Tel. No.:	91-20-27474247/27474246
Mobile No.:	9371105293 (Mr. Yogesh Bohra)
Fax No.:	91-20-27474246
E-Mail :	essenchem@vsnl.com asihant1994@live.com
Area :	10,000 sq ft
Location :	Leased

DIRECTORS

As on 29.09.2011

Name :

Mr. Yogesh Nemichand Bohra

Designation :

Director

Address :

4 Abhilasha, Near Bindu Nursing Home, Chinchwad, Pune – 411 019, Maharashtra, India

Date of Birth/Age :

03.01.1966

Date of Appointment :

04.01.1995

DIN No.:

00204326

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	U65993MH1989PTC051928	DANGHATI INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	14/07/1994	14/07/1994	-	Active	NO
2	U51909MH1995PTC084314	ARIHANT POLYMOULDS AND POLYMERS PRIVATE LIMITED	Director	4/01/1995	4/01/1995	-	Active	NO

Name :

Mrs. Rakhi Yogesh Bohra

Designation :

Director

Address :

4 Abhilasha, Near Bindu Nursing Home, Chinchwad, Pune – 411 019, Maharashtra, India

Date of Birth/Age :

12.04.1971

Date of Appointment :

07.06.2007

DIN No.:

02439970

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	No. of Shares
Bohra Nemichand Yogesh	900
Bohra Yogesh	50
Bohra Saroj	30
Bohra Rekha	10
Bohra Rita	10
Total	1000

Names of Allottees	No. of Shares
Yogesh Nemichand Bohra	1900
Rakhi Yogesh Bohra	2100
Total	4000

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Flexible Packaging
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· Henkel

Customers :

Wholesalers and Retailers

· Gits Food Products private Limited

No. of Employees :

20 (Approximately)

Bankers :

· Bank of Maharashtra, Chinchwad Branch

· Rupee Co-Operative Bank, Chinchwad Branch, Pune – 411019, Maharashtra, India

Facilities :

(Rs. in Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
From Rupee Co-Operative Bank against hypothecation of pouching machine and personal guarantee of two shareholders	0.642	0.752
Total	0.642	0.752
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
From Director	0.839	0.807
From Shareholders	2.378	2.378
Total	3.217	3.185

Banking Relations :	--
Auditors :
Name :	A K Bohra and Company Chartered Accountant
Address :	39 Khandke Building, 3^rd Floor, 282 S B S Road, Fort, Mumbai – 400 001, Maharashtra, India
Tel No.:	91-22-22618498
Fax No.:	91-22-22622280
Email:	ak_bohra@yahoo.com
PAN.:	AAPB7469E
Sister Concern :	Essen Chem Sales

CAPITAL STRUCTURE

As on 29.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares	Rs.100/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares	Rs.100/- each	Rs.0.500 Million

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares	Rs.100/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000	Equity Shares	Rs.100/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1.035	0.773	0.520
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1.135	0.873	0.620
LOAN FUNDS
1] Secured Loans		0.642	0.752	0.000
2] Unsecured Loans		3.217	3.185	2.943
TOTAL BORROWING		3.859	3.937	2.943
DEFERRED TAX LIABILITIES		0.073	0.077	0.077
TOTAL		5.067	4.887	3.640
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.942	3.074	2.297
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.020	0.020	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.614	1.463	0.315
	Sundry Debtors	3.687	2.383	1.294
	Cash & Bank Balances	0.251	0.509	0.598
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	0.445	0.185	0.611
Total Current Assets		5.997	4.540	2.818
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.971	2.244	1.149
	Other Current Liabilities	0.771	0.358	0.260
	Provisions	0.150	0.145	0.066
Total Current Liabilities		3.892	2.747	1.475
Net Current Assets		2.105	1.793	1.343
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		5.067	4.887	3.640

Particulars	31.03.2012	31.03.2011
Sales Turnover (Approximately)	36.000	17.000

Expected Sales (2012-2013): Rs.50.000 millions

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

KEY RATIOS

PARTICULARS	31.03.2011	31.03.2010	31.03.2009
Debt Equity Ratio (Total Liability/Networth)	3.43	3.15	2.38
Current Ratio (Current Asset/Current Liability)	1.54	1.65	1.91

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

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U51909MH1995PTC084314
Name of the company	ARIHANT POLYMOULDS AND POLYMERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	29/1- D-II Block, KSB Chowk, MIDC, Chinchwad, Pune – 411 019, Maharashtra, India Email: essenchem@vsnl.com
This form is for	Creation of charge
Type of charge	Movable property (not being pledge)
Particular of charge holder	Rupee Co-Operative Bank, Chinchwad Branch, Pune – 411019, Maharashtra, India Email: ddkulkarni42@gmail.com
Nature of instrument creating charge	Hypothecation of tangible goods/movbale property to secure term-laon limit
Date of instrument Creating the charge	25.03.2010
Amount secured by the charge	RS.0.750 Million
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest ROI@15% P.A. Terms of Repayment Repayment in 60 monthly equated installments.of Rs.0.018 Million inclusive of interst. Margin @25% Against Assets Charged. Extent and Operation of the charge First charge. Others Hypothecation of machinery term-loan limit of Rs.0.750 Million
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of machineries like cp screws air compress with dryers and old pouching machine with accessories etc. Lying at Plot No.29/1,D-II Block,MIDC Chinchwad,Pune-411019

TRADE REFERENCE

· Gits Food Products private Limited

· Henkel

FIXED ASSETS:

• Leasehold Land
• Building
• Plant and Machinery
• Air Heater
• Electrical Instruments and Installations
• Office Equipments
• Furniture and Fixtures

AS PER WEBSITE DETAILS

Company Brief

Established in the year 1995, Subject is a renowned manufacturer and supplier of a wide range of Packaging Material. Their range comprises laminated pouches, lamination films, packaging films, fmcg packaging, agricultural packaging and industrial packaging. These are manufactured using high quality raw material such as paper polyester, BOPP, co-extruded multi layer films, ink and adhesives.

They possess an advanced manufacturing unit equipped with rotogravure printing machine, which helps in meeting the bulk requirements of their clients. They make use of different printing and lamination techniques and follow a customer centric manufacturing process. With the support of their efficient workforce, they have incorporated wide significance in the competitive market. They cater their services to all chemical, pharma, engineering and allied industries across India. Owing to guidance and supervision of their mentor Mr. Yogesh Bohra, their organization is growing leaps and bounds. His in-depth knowledge is the key to the success of their organization.

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.55.56
UK Pound	1	Rs.85.51
Euro	1	Rs.69.50

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
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	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		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.