MIRA INFORM REPORT

Report Date :

15.06.2012

IDENTIFICATION DETAILS

Name :	SHREE PLA PRIVATE LIMITED
Registered Office :	Survey No.154, Kodigehalli Village, Machohalli Gate, Magadi Main Gate,, Bangalore – 560091, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	23.03.2006
Com. Reg. No.:	08-038812
Capital Investment / Paid-up Capital :	Rs.6.500 Millions
CIN No.: [Company Identification No.]	U25209KA2006PTC038812
TAN No.: [Tax Deduction & Collection Account No.]	BLRS22871C
PAN No.: [Permanent Account No.]	AAJCS7930F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Supplier and Exporter of Polythene Packaging Materials such as Packaging Bags, Packaging Sheets, Packaging Films, Polythene Products.
No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 64000
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 term 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. Jayakumar
Designation :	Director
Contact No.:	91-9945235446
Date :	12.06.2012

LOCATIONS

Registered Office/ Factory :	Survey No.154, Kodigehalli Village, Machohalli Gate, Magadi Main Gate,, Bangalore – 560091, Karnataka, India
Tel. No.:	91-80-28536926/ 28536916/ 23285458
Mobile No.:	91-9945235446 (Mr. Jayakumar)
Fax No.:	91-80-28536950
E-Mail :	rktantry25@yahoo.co.in jayakumar.sppl@gmail.com jaya_kumar@vsnl.net
Website :	http://www.shreepla.com
Area :	14000 sq. ft.
Location :	Owned
Branch Office 1:	#3-1-Q, Varuna Nilaya, Rajeshwari Nagar Bagalur Road, Hosur – 635109, Tamilnadu, India
Email :	Jayakumar.sppl@gmail.com
Branch Office 2:	108, P.R. H. Road, Kalpalayam Vinayagapuram, Kolathur, Chennai – 600099, Tamilnadu, India
Tel No.:	91-44-32218270
Email :	Jayakumar.che.sppl@gmail.com

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Jayakumar Siddappa

Designation :

Director

Address :

3, 5^th Cross, Sanjeevinagar, Moodalapalya, Bangalore – 560072, Karnataka, India

Date of Birth/Age :

23.05.1956

Date of Appointment :

23.03.2006

DIN No.:

00296265

Name :

Mr. Kumar Channabasavaiah Bangalore

Designation :

Director

Address :

1208, 9^th Main Road, WOC II Stage Raja Jinagar, Bangalore – 560086, Karnataka, India

Date of Birth/Age :

13.12.1962

Date of Appointment :

27.07.2006

DIN No.:

00558119

Name :

Mr. Poonam

Designation :

Director

Name :

Mr. Bestharahalli Satish Eshwaraiah

Designation :

Director

Address :

971, 17^th Main, 1^st Stage, 1^st Phase Chandra Layout, Bangalore, Karnataka, India

Date of Birth/Age :

21.09.1966

Date of Appointment :

07.06.2011

DIN No.:

03545263

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	Company/ LLP Status	Defaulting status
1	U25209KA2006PTC038812	SHREE PLA PRIVATE LIMITED	Director	16-01-12	07-06-11	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Jayakumar Siddappa	489300
Uma Jayakumar	1000
Ramyashree Jayakumar	59700
R. Sharadamma	25000
B M Satya Prema Kumari	45000
B C Kumar	30000
Total	650000

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Supplier and Exporter of Polythene Packaging Materials such as Packaging Bags, Packaging Sheets, Packaging Films, Polythene Products.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· Amsa Trading Corporation

Customers :

End Users

· Himalaya Drugs Company

No. of Employees :

50 (Approximately)

Bankers :

· State Bank of India

Industrial Estate Branch, Rajajinagar, Bangalore – 560010, Karnataka, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
HDFC Vehicles Loan 3297749	0.000	0.433
ICICI Bank – Vehicles Loan Tata Safari	0.000	0.363
Kotak Mahindra Prime Limited Ascent	0.000	0.288
Corporate Loan From State Bank of India	5.060	0.000
SBI Term Loan Account (New)	2.767	0.000
SBI Term Loan A/c No.30071989643	0.134	0.732
SBI CC Accountant	30.121	24.576
Total	38.082	26.392
NOTE: Cash Credit Loan from SBI, Rajajinagar Industrial estate Branch is secured against book debts, stock of the company and personnel guarantee of the directors. Term Loans from SBI Rajajinagar Industrial Estate is secured against hypothecation of other loans Secured against vehicles.
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
From Bank
ABN Amro Bank	--	1.604
Barclaya Bank	--	1.516
HDFC Bank	--	0.207
From Financial Company
Cholamandalam DBS Finance	--	0.105
Religare	--	2.000
Others
From Shareholders and Directors	2.738	2.275
Total	2.738	7.707

Banking Relations :	--
Auditors :
Name :	R K Tantry and Company Chartered Accountant
Address :	379, 3^rd Main 7^th Cross, CKA Layout, BSK III Stage Bangalore – 560085, Karnataka, India
PAN No.:	AAAFR8816P

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
1350000	Equity Shares	Rs.10/- each	Rs.13.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
650000	Equity Shares	Rs.10/- each	Rs.6.500 Millions

(AS ON 31.03.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
650000	Equity Shares	Rs.10/- each	Rs.6.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
650000	Equity Shares	Rs.10/- each	Rs.6.500 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		6.500	6.500	5.000
2] Share Application Money		0.300	0.000	1.500
3] Reserves & Surplus		9.277	7.429	5.197
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		16.077	13.929	11.697
LOAN FUNDS
1] Secured Loans		38.082	26.392	24.067
2] Unsecured Loans		2.738	7.707	8.329
TOTAL BORROWING		40.820	34.099	32.396
DEFERRED TAX LIABILITIES		2.035	1.833	1.357
TOTAL		58.932	49.861	45.450
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		18.856	18.897	15.829
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	11.503	8.721	5.346
	Sundry Debtors	23.672	27.566	22.596
	Cash & Bank Balances	3.868	3.412	3.052
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	13.522	1.943	2.283
Total Current Assets		52.565	41.642	33.277
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	10.940	10.199	2.223
	Other Current Liabilities and Provision	1.608	0.549	1.515
Total Current Liabilities		12.548	10.748	3.738
Net Current Assets		40.017	30.894	29.539
MISCELLANEOUS EXPENSES		0.059	0.070	0.082
TOTAL		58.932	49.861	45.450

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	123.124	113.256	117.571
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		4.080	4.574	3.832
Less/ Add	DEPRECIATION/ AMORTISATION		1.334	1.216	0.989
	PROFIT BEFORE TAX		2.746	3.358	2.843
Less	TAX		0.899	1.125	0.935
	PROFIT AFTER TAX		1.847	2.233	1.908
	Earnings Per Share (Rs.)		2.84	--	--

Particulars	31.03.2012
Sales Turnover (Approximately)	125.000

Expected Sales (2012-13): Rs.300.000 Millions

The above information has been parted by Mr. Jayakumar.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	2.23	2.96	2.42
Return on Total Assets (PBT/Total Assets}	(%)	3.84	5.55	5.79
Return on Investment (ROI) (PBT/Networth)		0.17	0.24	0.24
Debt Equity Ratio (Total Liability/Networth)		3.32	3.22	3.09
Current Ratio (Current Asset/Current Liability)		4.19	3.87	8.90

LOCAL AGENCY FURTHER INFORMATION

Check list by info Agents	Available in Report (Yes/ No)
Year of Establishment	Yes
Locality of the Firm	Yes
Constitution of the Firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoter’s Background	Yes
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of Contact person	Yes
Turnover of Firm for last three years	Yes
Profitability for last three years	Yes
Reasons for variation <> 20%	-----
Estimation for coming financial year	Yes
Capital in the business	Yes
Details of sister concerns	No
Major Suppliers	Yes
Major Customers	Yes
Payments Terms	Yes
Export/ Imports Details (If applicable)	No
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	Yes
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	Yes

NOTE:

The Registered office of the company has been shifted from 57/6, Doddaiah Garden, Magadi Main Road, Kottugepalaya, Bangalore – 560091, Karnataka, India, to the present address w.e.f. 01.10.2011.

TRADE REFERENCE:

· Amsa Trading Corporation

· Himalaya Drugs Company

FORM 8:

This form is for	Modification of charge
Charge identification number of the modified	10067337
Corporate identity number of the company	U25209KA2006PTC038812
Name of the company	SHREE PLA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	57/6, Doddaiah Garden,Magadi Main Road, Kottigepalya, Bangalore -560091, Karnataka, India rktantry25@yahoo.com
Type of charge	Book Debts Movable Property Floating Charge
Particular of charge holder	State Bank of India Industrial Estate Branch, Rajajinagar, Bangalore – 560010, Karnataka, India sbi.00762@sbi.co.in
Nature of description of the instrument creating or modifying the charge	Link Letter Supplemental Agreement of Loan-cum- Hypothecation (both the above pertain to the same charge)
Date of instrument Creating the charge	07/02/2011
Amount secured by the charge	Rs.69.700 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest CC - 6.75% over base rate with a minimum of 14.75% p.a. TL - 7.5% over base rate with a minimum of 15.5% p.a. Terms of Repayment CC - Running account repayable on demand Other limits - as per existing/sanction terms Margin As per bank norms Extent and Operation of the charge The charge shall operate to the extent of the loan amount plus interest commission costs expenses and other charges thereon Others The said amount of Rs.69.700 Millions comprises CC (Stocks) Rs.10.000 Millions, CC (Book Debts) Rs.22.500 Millions, TL 1 Rs.0.700 Million, TL (New ) Rs.16.500 Millions, Corporate Loan Rs.5.000 Millions, Letter of Credit Rs.15.000 Millions.
Short particulars of the property charged	First charge by way of hypothecation of stocks of raw materials, semi finished goods, finished goods, book debts, plant, machineries and other movables present and future stored/installed at company premises at No.57/5, Doddaiah Gardens, Kottigepalya, Magadi Main road, Bangalore 560091 or at any other place.
Date of latest modification prior to the present modification	16.09.2009
Particulars of the present modification	By the above, the amount secured by charge stands enhanced from Rs.36.300 Millions to Rs.69.700 Millions. (All other terms and conditions remain unchanged)

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.55.79
UK Pound	1	Rs.86.37
Euro	1	Rs.70.07

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION		0
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		44

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.