MIRA INFORM REPORT

Report Date :

19.06.2012

IDENTIFICATION DETAILS

Name :	ACTIVE PRINTPACK PRIVATE LIMITED (w.e.f. 30.01.2008)
Formerly Known As :	TYCOON PROMOTERS PRIVATE LIMITED
Registered Office :	23/5, Shakti Nagar, Delhi – 110007
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	31.05.2000
Com. Reg. No.:	55-105999
Capital Investment / Paid-up Capital :	Rs.3.877 Millions
CIN No.: [Company Identification No.]	U45201DL2000PTC105999
TAN No.: [Tax Deduction & Collection Account No.]	DELT05264A
PAN No.: [Permanent Account No.]	AABCT5077A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Flexible Packaging Materials
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (14)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appeases accumulated losses recorded by the company. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow. The company can be considered for business dealing with safe and secured 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. Harish (Son of Director)
Contact No.:	91-9811858700
Date :	18.06.2012

LOCATIONS

Registered Office / Head Office :	23/5, Shakti Nagar, Delhi – 110007, India
Tel. No.:	91-11-4235881 / 82
Mobile No.:	91-9811858700 (Mr. Harish)
Fax No.:	91-11-4231880
E-Mail :	pankaj_1020@yahoo.com
Website :	www.activeprintpack.com
Factory:	Plot A 4, Sector A 3, Tronica City Industrial Area, Loni Baghpat Road, District Ghaziabad - 201102, Uttar Pradesh, India

DIRECTORS

As on 11.09.2010

Name :

Mr. Rajendra Aggarwal

Designation :

Director

Address :

23/5, Shakti Nagar, Delhi – 110007, India

Date of Birth/Age :

05.07.1963

Date of Appointment :

15.05.2002

DIN No.:

00034307

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	U24130DL1981PTC012638	HAKOBA PLASTICS PRIVATE LIMITED	Director	24/07/1998	24/07/1998	-	Active	NO
2	U00000DL1987PTC028199	ASWATHI SHIPPING SERVICES PRIVATE LIMITED	Director	24/07/1998	24/07/1998	-	Active	NO
3	U45201DL1998PTC096609	EARTHRISE ESTATES PRIVATE LIMITED.	Director	9/10/1998	9/10/1998	-	Active	NO
4	U74899DL1994PTC060944	PLASTO GRAPH INDIA PRIVATE LIMITED	Director	12/4/1999	12/4/1999	-	Active	NO
5	U45201DL2000PTC105999	ACTIVE PRINTPACK PRIVATE LIMITED	Additional director	15/05/2002	15/05/2002	-	Active	NO
6	U25202DL2004PTC129336	RITE-PAC INDUSTRIES PRIVATE LIMITED	Director	30/01/2004	30/01/2004	-	Active	NO
7	U25202UP2004PTC028253	RITE-PAC INDUSTRIES PRIVATE LIMITED	Director	30/01/2004	30/01/2004	-	Active	YES
8	U74950UP2005PTC030903	RITE-PAC INDIA PRIVATE LIMITED	Director	27/10/2005	27/10/2005	1/10/2008	Active	NO
9	U15494DL2010PTC202292	KIWI COMMODITIES PRIVATE LIMITED	Director	5/5/2010	5/5/2010	-	Active	NO

Name :

Mr. Manoj Kimar Sharma

Designation :

Director

Address :

D-1792, Multani Mohalla, Rani Band, Delhi - 110034, India

Date of Birth/Age :

01.07.1963

Date of Appointment :

30.03.2010

DIN No.:

01855227

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	U74899DL1994PTC060944	PLASTO GRAPH INDIA PRIVATE LIMITED	Director	14/08/1997	14/08/1997	15/10/2011	Active	NO
2	U74950UP2005PTC030903	RITE-PAC INDIA PRIVATE LIMITED	Director	27/10/2005	27/10/2005	10/7/2008	Active	NO
3	U45201DL2000PTC105999	ACTIVE PRINTPACK PRIVATE LIMITED	Additional director	30/03/2010	30/03/2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 11.09.2010

Names of Shareholders	No. of Shares
Plasto Graph India Private Limited, India	177500
Manju Aggarwal	210200
Total	387700

As on 11.09.2010

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	45.78
Directors or relatives of Directors	54.22
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Flexible Packaging Materials
Products :	· Laminate in RollS · Zipper pouches with Bottom Gusset ( Stand up) · 3 Side Seal Pouches · Center seal pouches · 2 Side Gusset Pouches · 5 Side Seal Pouches · Plastic Pouches
Exports :
Products :	Flexible Packaging Materials
Countries :	Europe
Terms :
Selling :	Advance
Purchasing :	Advance

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Unit	Laminate Film and Pouches
Installed Capacity	MT	200
Actual Production	Kgs.	231283.82

GENERAL INFORMATION

Customers :

Manufacture

No. of Employees :

100 (Approximately)

Bankers :

Oriental Bank of Commerce, Vishal Enclave, New Delhi - 110027, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2010	As on 31.03.2009
OBC term Loan (Secured agents the Plant and Machinery)	54.818	38.084
OBC CC Limit	28.770	8.464
Total	82.588	46.548

Banking Relations :	--
Auditors :
Name :	Agarwal Kamal Kumar and Associate Chartered Accountants
Address :	13-B, 2nd Floor, Subhash Marg, Daryaganj, New Delhi- 110002, India
Tel. No.:	91-11-23284459
Fax No.:	91-11-23284460
PAN.:	AAGFA5382B

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1500000	Equity Shares	Rs.10/- each	Rs.15.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
387700	Equity Shares	Rs.10/- each	Rs.3.877 Millions

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		3.877	2.302	2.102
2] Share Application Money		23.350	27.450	17.800
3] Reserves & Surplus		34.425	4.507	0.706
4] (Accumulated Losses)		(8.409)	(1.465)	0.000
NETWORTH		53.243	32.794	20.608
LOAN FUNDS
1] Secured Loans		82.588	46.548	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		82.588	46.548	0.000
DEFERRED TAX LIABILITIES		1.956	0.736	0.000
TOTAL		137.787	80.078	20.608
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		94.627	57.508	11.695
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.380	0.050	0.050
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	12.969	4.367	0.000
	Sundry Debtors	25.070	3.899	0.000
	Cash & Bank Balances	3.429	2.591	3.488
	Other Current Assets	9.780	5.605	0.000
	Loans & Advances	0.420	7.674	5.336
Total Current Assets		51.668	24.136	8.824
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	8.301	1.631	0.000
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.776	0.231	0.142
Total Current Liabilities		9.077	1.862	0.142
Net Current Assets		42.591	22.274	8.682
MISCELLANEOUS EXPENSES		0.189	0.246	0.181
TOTAL		137.787	80.078	20.608

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		Income	121.937	9.515
		Other Income	1.897	4.377
		TOTAL	123.834	13.892
	EXPENSES
		Office Expenses
		Administrative Expenses	118.307	14.617
		Advertising Expenses
		TOTAL	118.307	14.617
	PROFIT BEFORE TAX		(5.730)	(0.725)
Less	TAX		1.221	0.739
	PROFIT AFTER TAX		(6.951)	(1.464)
	Earnings Per Share (Rs.)		(17.93)	NA

Particulars	31.03.2012	31.03.2011
Sales Turnover (Approximately)	240.000	200.000

Expected Sales ( 2012-13 ) : Rs.270.000 Millions

The above information has been parted by Mr. Harish

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	(5.61)	(10.54)	NA
Net Profit Margin (PBT/Sales)	(%)	(4.70)	(7.62)	NA
Return on Total Assets (PBT/Total Assets}	(%)	(3.92)	(0.89)	NA
Return on Investment (ROI) (PBT/Networth)		(0.11)	(0.02)	NA
Debt Equity Ratio (Total Liability/Networth)		1.72	1.48	0.01
Current Ratio (Current Asset/Current Liability)		5.69	12.96	62.14

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	No
11) Turnover of firm for last two years	Yes
12) Profitability for last two years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	No
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	--
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

Note:

The registered office of the company has been shifted from 5 Lacal Shopping Compex, Vardhman Royal Plaza, Gujrawala Town Delhi, India to present address w.e.f. 20.02.2008

WORKING OF THE COMPANY

During the year the company has completely set up plant for manufacturing of Plastic laminated films and pouches and entire plant became operational during the year. The company has been sanctioned an enhancement of Rs.20.000 Millions in its cash credit limits for the working capital requirements from Oriental bank of Commerce. During the year the company has been successful in achievement of its objectives to a great extent. The company has achieved turnover of Rs.121.900 Millions, which is equal to the targeted turnover for the year. The directors of the company are confident to achieve the turnover more than expected in the forthcoming years

Bankers Charges Report as per Registry

Corporate identity number of the company	U45201DL2000PTC105999
Name of the company	ACTIVE PRINTPACK PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	23/5, Shakti Nagar, Delhi – 110007, India pankaj_1020@yahoo.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10129400
Type of charge	· Book debts · Others (Hypothecation of Stocks.)
Particular of charge holder	Oriental Bank of Commerce, Vishal Enclave, New Delhi - 110027, India ngaoffice@gmail.com
Nature of instrument creating charge	Loan Doc - 13 being Supplemental Agreement to Secure Credit Facilities dated 28.09.2011
Date of instrument Creating the charge	28.09.2011
Amount secured by the charge	Rs.40.000
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Base Rate plus 4.50% P.A. (i.e. 15.25% P.A.) calculated on daily balances and charged on monthly rests. And Penal Interest @ 2.00% P.A. over and above the normal rate of interest in case of any defaults. Terms of Repayment On Demand Margin 25% Extent and Operation of the charge Full i.e. 100%
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of stock of raw material, stock in process, finished goods, store and spare, packing material and receivable. All the existing and future current and fixed assets of the company whether movable or immovable.
Date of instrument modifying the charge	29.03.2010
Particulars of the present modification	Cash Credit Facilities availed by M/s Active Printpack Private Limited enhanced from Rs. 25.000 Millions to Rs.40.000 Millions and sub-limit of CC against Book Debts is 50% of CC Limit (i.e. Rs.20.000 Millions).

Fixed Assets

· Air Conditioner

· Fire Equipment

· Plant and Machinery

· Printing Cylinder

· Furniture and Fixture

· Sanitary Fitting

· Computer

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.55.60
UK Pound	1	Rs.87.34
Euro	1	Rs.70.66

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		14

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.