MIRA INFORM REPORT

Report Date :

08.06.2012

IDENTIFICATION DETAILS

Name :	ACCUMEN POLY PACK PRIVATE LIMITED
Registered Office :	53/7, Nayaganj, Kanpur – 208 001, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	13.07.2009
Com. Reg. No.:	20-037759
Capital Investment / Paid-up Capital :	Rs.1.255 millions
CIN No.: [Company Identification No.]	U74900UP2009PTC037759
TAN No.: [Tax Deduction & Collection Account No.]	KNPA02716A
PAN No.: [Permanent Account No.]	AAHCA8861D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Pouches.
No. of Employees :	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 49000
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.

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. Siddharth
Designation :	Director of Associate Concern
Contact No.:	91-9935555550
Date :	06.06.2012

LOCATIONS

Registered Office :	53/7, Nayaganj, Kanpur – 208 001, Uttar Pradesh, India
Tel. No.:	91-512-2322220
Mobile No.:	91-9935555550 (Mr. Siddharth)
Fax No.:	Not Available
E-Mail :	siddharth1000@gmail.com shweta2402@rediffmail.com v1maheshwari@gmail.com pandeyom111@gmail.com
Location :	Owned
Factory :	Vinayakpur, Rania Industrial Area, Kanpur, Uttar Pradesh, India

DIRECTORS

As on 30.09.2011

Name :

Mr. Manoj Kumar Agarwal

Designation :

Director

Address :

3/98, Hanumant Kripa, Vishnupuri, Kanpur – 208 002, Uttar Pradesh, India

Date of Birth/Age :

01.01.1972

Date of Appointment :

13.07.2009

DIN No.:

01767926

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	U45200WB2007PLC135144	Samtal Financial System Limited	Director	01-03-07	01-03-07	25-05-10	Active	NO
2	U74900UP2009PTC037759	Accumen Poly Pack Private Limited	Director	13-07-09	13-07-09	-	Active	NO
3	L28920MH1983PLC029879	Sulabh Engineers and Services Limited	Whole-time director	30-09-11	17-01-11	-	Active	NO
4	U74900UP2011PTC048034	Sulabh Engineering Consultants Private Limited	Director	22-12-11	22-12-11	-	Active	NO
5	U01403UP2011PTC048032	Sulabh Agro Private Limited	Director	22-12-11	22-12-11	-	Active	NO
6	U70102UP2012PTC050479	Arnav Infra Promoter Private Limited	Director	14-05-12	14-05-12	-	Active	NO
7	U70102UP2012PTC050478	Arnav Infrabuild Private Limited	Director	14-05-12	14-05-12	-	Active	NO

Name :

Mr. Rajendra Kumar Gupta

Designation :

Director

Address :

53/7, Nayaganj, Kanpur – 208 001, Uttar Pradesh, India

Date of Birth/Age :

23.08.1950

Date of Appointment :

13.07.2009

DIN No.:

00372342

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	U51109UP1990PTC011618	Spipick India Private Limited	Director	05-02-90	05-02-90	Active	NO
2	U74900UP2009PTC037759	Accumen Poly Pack Private Limited	Director	13-07-09	13-07-09	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Manoj Kumar Agarwal	5000
Rajendra Kumar Gupta	5000
Adinath Shares and Comm. Private Limited, India	1000
Alekh Agarwal	500
Anant Financial Consultancy Private Limited, India	1000
Astha Departmental Store Private Limited, India	1000
Dilip Kumar Agrawal	500
Durgesh Kumar Tiwari	500
Jaya Agrawal	500
Kalpana Agrawal	500
Kavita Awasthi	500
Mahendra Yadav	500
Manoj Sandhya Agrawal HUF	500
Nagarmal Agrawal HUF	500
Narendra Kumar Diwadi	500
Neil Industries Limited, India	1000
Patirakhan Lal	500
Rajendra Kumar Agrawal HUF	500
Renu Gupta	500
Sagar Net Mart Private Limited, India	500
Samtal Financial System Private Limited, India	1000
Sanjay Gupta	500
Santosh Krishana HUF	500
Subodh Agrawal	500
Success Vyapar Private Limited, India	1000
Tilak Raj	100000
Nandini Mittal and Company, India	500
The Vysya Capital and Financial Limited, India	500
Total	125500

As on 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	5.58
Directors or relatives of directors	92.43
Other top fifty shareholders	1.99
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Pouches.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	2010-2011
Capacities
Licensed Capacity	N.A.
Installed Capacity	70 MT/Month
Production
Production	2143612.80
Waste Production	131917.00
Total	2275529.80

GENERAL INFORMATION

Suppliers :

v Henkel

v Ballarpur Paper Mills

Customers :

Wholesalers and Retailers

v Ghari Detergent

No. of Employees :

150 (Approximately)

Bankers :

Union Bank of India, Main Branch, Birhana Road, Kanpur – 208 001, Uttar Pradesh, India

Facilities :

Secured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Secured by/against Hypothecation of Stocks, Book Debts and Other Assets and guaranteed by Directors	27.032	0.000
Total	27.032	0.000

Unsecured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
From Directors	1.360	0.000
From Shareholders, Relatives of Directors	191.372	38.545
Total	192.732	38.545

Banking Relations :	--
Auditors :
Name :	Pee Kay Jaipuria and Company Chartered Accountants
Address :	Acharya Kuti, First Floor, 26/53, Birhana Road, Kanpur – 208 001, Uttar Pradesh, India
Tel. No.:	91-512-2315178/ 3013415
E-Mail :	peekayjaipuria_co@rediffmail.com
Income-tax PAN of auditor or auditor's firm :	AAFFP8279D
Associate Concerns :	v Keymen Laminators Private Limited v Shubham Goldiee Masale Private Limited

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
125500	Equity Shares	Rs.10/- each	Rs.1.255 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		1.255	0.100
2] Share Application Money		5.404	1.155
3] Reserves & Surplus		5.706	0.000
4] (Accumulated Losses)		0.000	0.000
NETWORTH		12.365	1.255
LOAN FUNDS
1] Secured Loans		27.032	0.000
2] Unsecured Loans		192.732	38.545
TOTAL BORROWING		219.764	38.545
DEFERRED TAX LIABILITIES		1.684	0.000
TOTAL		233.813	39.800
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		95.095	0.088
Capital work-in-progress		19.340	17.392
INVESTMENT		0.000	0.989
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	35.316	0.000
	Sundry Debtors	34.376	0.000
	Cash & Bank Balances	1.620	8.955
	Other Current Assets	0.000	0.000
	Loans & Advances	68.033	15.357
Total Current Assets		139.345	24.312
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	14.529	2.364
	Other Current Liabilities	3.666	0.777
	Provisions	1.900	0.000
Total Current Liabilities		20.095	3.141
Net Current Assets		119.250	21.171
MISCELLANEOUS EXPENSES		0.128	0.160
TOTAL		233.813	39.800

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2011
TURNOVER	264.200
NET PROFIT	9.291

Particulars	31.03.2012
Sales Turnover (Approximately)	500.000

Expected Sales (2012-2013): Rs.550.000 millions

The above information has been parted by Mr. Siddharth (Director of Associate Concern).

KEY RATIOS

PARTICULARS	31.03.2011	31.03.2010
Debt Equity Ratio (Total Liability/Networth)	19.40	33.22
Current Ratio (Current Asset/Current Liability)	6.93	7.74

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	No
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	Yes
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last two years	Yes
12) Profitability for last one year	Yes
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 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

WORKING:

This year was an inspiring year for the company, as it recorded excellent performance on all major financial parameters. It achieved turnover of Rs.264.200 millions and Net profit of Rs.9.291 millions. The company achieved this due to significant cost increase pressure. A detailed analysis of above results assures bright future of the company.

Bankers Charges Report as per Registry

Corporate identity number of the company	U74900UP2009PTC037759
Name of the company	ACCUMEN POLY PACK PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	53/7, Nayaganj, Kanpur – 208 001, Uttar Pradesh, India E-Mail: shweta2402@rediffmail.com
This form is for	Creation of charge
Type of charge	Immovable Property Any interest in immovable property Movable Property (not being pledge) Floating Charge
Particular of charge holder	Union Bank of India, Main Branch, Birhana Road, Kanpur – 208 001, Uttar Pradesh, India E-Mail: cbskanpurmain@unionbankofindia.com
Nature of description of the instrument creating or modifying the charge	Term Loan Agreement, Composite Hypothecation deed and title deed dated 24.06.2010
Date of instrument Creating the charge	24.06.2010
Amount secured by the charge	Rs.20.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: 14.25% p.a. with monthly rest Terms of Repayment: 12 Quarterly installments of Rs.1.500 millions and the last installment of Rs.2.000 millions Margin: 70% Extent and Operation of the charge: All the tangible movable machinery and plant of the borrower together with spares, tools and accessories and other movables, both present and future which now lying stored in or about or shall be brought into or be stored at the borrowers works at Kanpur. Immovable property i.e. part of land No.2283 admeasuring 1.0290 Hectare out of total 1.7050 Hectare situated at Visayakpur, Akbarpur, District Kanpur Dehat belonging to Mrs. Sandhya Agarwal and Mrs. Sapna Gupta.
Short particulars of the property charged	All the tangible movable machinery and plant of the borrower together with spares, tools and accessories and other movables, both present and future which now lying stored in or about or shall be brought into or be stored at the borrowers works at Kanpur. Immovable property i.e. part of land No.2283 admeasuring 1.0290 Hectare out of total 1.7050 Hect. situated at Visayakpur, Akbarpur, Kanpur Dehat belonging to Mrs.. Sandhya Agarwal and Mrs. Sapna Gupta.

TRADE REFERENCES:

v Ghari Detergent

v Henkel

v Ballarpur Paper Mills

FIXED ASSETS:

v Building and Labour Room

v Furniture and Fixture

v Office Equipment

v Computer

v Plant and Machinery

v Vehicle

v Cycle

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.55.15
UK Pound	1	Rs.85.22
Euro	1	Rs.69.24

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
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		42

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.