MIRA INFORM REPORT

Report Date :

25.06.2012

IDENTIFICATION DETAILS

Name :	CRYSTAL SPECIALITY TAPES PRIVATE LIMITED
Registered Office :	Plot No. 1026/3, Near Gurudev Compound, Opp. Sonale Police Chowky, Taluka – Bhiwandi, Thane – 421302, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	05.12.2006
Com. Reg. No.:	11-166017
Capital Investment / Paid-up Capital :	Rs.2.500 Millions
CIN No.: [Company Identification No.]	U25209MH2006PTC166017
TAN No.: [Tax Deduction & Collection Account No.]	PNECO08686G
PAN No.: [Permanent Account No.]	AACCC9429J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Adhesive Tapes.
No. of Employees :	35 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 4000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was established as partnership firm with the name of ‘Crystal Speciality Tapes’ in the year 2000 and later it got converted in a private company with name ‘Crystal Speciality Tapes Private Limited’ in the year 2006. It is having moderate track. There appears huge accumulated losses in the records of the company during the year 2011. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some cautions.

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. Rahul Kapoor
Designation :	Director
Contact No.:	91-9892364445
Date :	02.06.2012

LOCATIONS

Registered Office / Warehouse :	Plot No. 1026/3, Near Gurudev Compound, Opp. Sonale Police Chowky, Taluka – Bhiwandi, Thane – 421302, Maharashtra, India
Tel. No.:	91-25636828
Mobile No.:	91-9892364445 ()Mr. Rahul Kapoor
Fax No.:	Not Available
E-Mail :	info@crystaltapes.com ndedhia+23@yahoo.com
Website :	www.crystaltapes.com
Area :	5500 sq ft
Location :	Rented
Head Office :	A-9, Bhandup Industrial Estate, Pannalal Compound, L B S Road, Bhandup West, Bhandup West  Mumbai – 400078, Maharashtra, India
Tel. No.:	91-22-25961188
Fax No.:	91-22-67969284
Area :	1800 sq ft
Location :	Owned

DIRECTORS

As on 16.09.2011

Name :

Mr. Shashi Vinod Kapoor

Designation :

Director

Address :

701/702, 7th Floor, Mahavir Tower, Opp. Gabriel India, L.B.S. Road, Mulund (West) – 400080, Maharashtra, India

Date of Appointment :

05.12.2006

DIN No.:

00945498

Name :

Mr. Rishi Vinod Kapoor

Designation :

Director

Address :

701/702, 7th Floor, Mahavir Tower, Opp. Gabriel India, L.B.S. Road, Mulund (West) – 400080, Maharashtra, India

Date of Appointment :

05.12.2006

DIN No.:

00945532

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	U25209MH2006PTC166017	CRYSTAL SPECIALITY TAPES PRIVATE LIMITED	Director	5/12/2006	5/12/2006	-	Active	NO
2	U28990MH2011PTC216767	IMPERIAL GLASSFAB PRIVATE LIMITED	Director	27/04/2011	27/04/2011	-	Active	NO

Name :

Mr. Rahul Vinod Kapoor

Designation :

Director

Address :

701/702, 7th Floor, Mahavir Tower, Opp. Gabriel India, L.B.S. Road, Mulund (West) – 400080, Maharashtra, India

Date of Appointment :

05.12.2006

DIN No.:

00945553

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	U25209MH2006PTC166017	CRYSTAL SPECIALITY TAPES PRIVATE LIMITED	Director	5/12/2006	5/12/2006	-	Active	NO
2	U28990MH2011PTC216767	IMPERIAL GLASSFAB PRIVATE LIMITED	Director	27/04/2011	27/04/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 16.09.2011

Names of Shareholders	No. of Shares
Shashi Vinod Kapoor	85000
Rishi Vinod Kapoor	82500
Rahul Vinod Kapoor	82500
Total	250000

Equity Share Break up (Percentage of Total Equity)

As on 16.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Adhesive Tapes.
Exports :
Products :	Adhesive Tapes
Countries :	Middle East
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

· Aakar Metal

· Application Systems

· Esque General Industries

· Fabtech Technologies

· Glasswall System

· Intersil Metalic Products

· Lucky Enterprises

· Mercury Coating

· Samrath Enterprises

· Sha Kundanmal Mishrimal

· Shree Electricals

· Vedant Façade Designers

Customers :

End Users

· M.J Coaters Private Limited

· Sanoshi Polympers

· Ambika Paper Convertors

· Classic Packaging

· G.R. Trade Link

· Hema Chemicals

· Jay Industries

· Navrang Polyfilms

· P P Enterprises

· Rajshree Packing

· Saj Enterprises

· Santoshi Polymers

· Saj International

· Satguru Computers

· S K Traders

· Techno Engineering

· Shraddha Trading Company

No. of Employees :

35 (Approximately)

Bankers :

The Saraswat Co-Operative Bank, Small and Medium Enterprise Branch, Prabhat Bhavan, Block B, 96 LBS Marg, Vikroli (West), Mumbai – 400083, Maharashtra, India

Facilities :

CC – Rs.3.500 Millions (From Secured Co – Operative Bank)

(Rs. in Millions)

Unsecured Loan	As on 31.03.2011	As on 31.03.2010
From Directors
Shashi V Kapoor	0.133	0.133
Rishi V Kapoor	0.453	0.228
Rahul V Kapoor	0.302	0.043
From Others
Minal R Kapoor	0.019	0.019
Deepti R Kapoor	0.019	0.020
Rishi V Kapoor (HUF)	0.027	0.026
Rahul V Kapoor (HUF)	0.020	0.020
Sundry Creditors for Loan	0.000	0.227
Royal Traders	0.008	0.009
Total	0.981	0.725

Banking Relations :	--
Auditors :
Name :	Navin Dedhia and Company Chartered Accountant
Address :	125/126, Ganesh Tower Chs Limited, Dada Patil Wadi Road, Opposite Railway Station, Thane – 400602, Maharashtra, India
Tel. No.:	91-25436828/25401563
E-Mail :	ndedhia+23@yahoo.co.in navin.dedhia23@gmail.com
PAN.:	AAOPD1079Q
Sister Concern:	Royal Traders Address: Manufacturer and Exporter of Adhesive Tapes. Line of Business: Plot No. 1026/3, Near Gurudev Compound, Opp. Sonale Police Chowky, Taluka – Bhiwandi, Thane – 421302, Maharashtra, India

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	RS.2.500 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		2.500	2.500	2.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		(1.440)	(0.924)	0.000
4] (Accumulated Losses)		0.000	0.000	(0.341)
NETWORTH		1.060	1.576	1.660
LOAN FUNDS
1] Secured Loans		1.500	0.000	0.000
2] Unsecured Loans		0.981	0.725	1.258
TOTAL BORROWING		2.481	0.725	1.258
DEFERRED TAX LIABILITIES		(0.309)	(0.319)	(0.060)
TOTAL		3.232	1.982	2.858
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.505	2.641	2.940
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.025	0.025	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2.467	0.888	0.564
	Sundry Debtors	3.949	1.527	0.113
	Cash & Bank Balances	0.398	0.047	0.044
	Other Current Assets	0.480	0.461	0.480
	Loans & Advances	0.015	0.007	0.000
Total Current Assets		7.309	2.930	1.201
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.753	1.629	1.017
	Other Current Liabilities	4.517	1.849	0.259
	Provisions	0.337	0.143	0.021
Total Current Liabilities		6.607	3.621	1.297
Net Current Assets		0.702	(0.691)	(0.096)
MISCELLANEOUS EXPENSES		0.000	0.007	0.014
TOTAL		3.232	1.982	2.858

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
TOTAL RECEIPTS		1.231	2.962	0.506
EXPENSES
	Office Expenses	NA	NA	NA
	Administrative Expenses	NA	NA	NA
	Advertising Expenses	NA	NA	NA
	TOTAL	NA	NA	NA
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(0.861)	(0.323)	(0.220)
FINANCIAL EXPENSES		0.524	0.156	0.003
DEPRECIATION/ AMORTISATION		0.327	0.363	0.090
PROFIT/ (LOSS) BEFORE TAX		(0.516)	(0.843)	(0.313)
TAX		0.000	(0.260)	(0.059)
PROFIT/ (LOSS) AFTER TAX		(0.516)	(0.843)	(0.254)
OPENING BALANCE IN PROFIT AND LOSS A/C		(0.924)	(0.341)	(0.087)
BALANCE CARRIED TO THE B/S		1.440	(0.924)	(0.341)
Earnings/Loss Per Share (Rs.)		2.06	NA	NA

Particulars	31.03.2012
Sales Turnover (Approximately)	20.000

Expected Sales (2012-2013): Rs.60.000 Millions

The above information has been parted by Mr. Rahul Kapoor

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Return on Total Assets (PBT/Total Assets}	(%)	7.06	28.77	26.06
Return on Investment (ROI) (PBT/Networth)		0.49	0.53	0.19
Debt Equity Ratio (Total Liability/Networth)		8.57	2.76	1.54
Current Ratio (Current Asset/Current Liability)		1.11	0.81	0.93

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 three years	Yes
12) Profitability for last three 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	Yes
17) Major suppliers	Yes
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
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: Registered office of the company has been shifted from Gala No. 115, Hasti Industrial Premises Co-Oprative, Society, T.T.C Industrial Area, Village – Mahape, Navi Mumbai – 400701 to the present address w.e.f.15.09.2008

PERFORMANCE REVIEW:

During The Year the Company has made a Loss before Interest and Depreciation amounting to Rs. 0.860 Millions which represents a decrease from the last financial year. In the F.Y. 2010 – 11 certain sales orders from the customers are get cancelled and these will lead to the company in to loss. But it is certain that the same will be get in the near future.

The Board of Directors of the Company is expecting growth of the business, as compare to current year. They are intended to maintain consistency in the performance in the next upcoming future years which will result in to profit for the company and it is also expected to obtain various Sales orders from the esteemed customers of the company.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U25209MH2006PTC166017
Name of the company	CRYSTAL SPECIALITY TAPES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. 1026/3, Near Gurudev Compound, Opp. Sonale Police Chowky, Taluka – Bhiwandi, Thane – 421302, Maharashtra, India Email: ndedhia_23@yahoo.co.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10214338
Type of charge	Book debts Movable property (not being pledge)
Particular of charge holder	The Saraswat Co-Operative Bank, Small and Medium Enterprise Branch, Prabhat Bhavan, Block B, 96 LBS Marg, Vikroli (West), Mumbai – 400083, Maharashtra, India Email: kamalax_saraf@hotmail.com
Nature of instrument creating charge	Deed of hypothecation for additional advances (supplementary deed)
Date of instrument Creating the charge	22.03.2012
Amount secured by the charge	Rs.3.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest PLR + 0.50% P. A. = 15.00% P. A. With Monthly RESTS. PLR AT Present = 14.50% P. A. Terms of Repayment Repayable on demand Margin Hypothecation Of Stock : 30% Work In Process : 40% Finished Goods : 30% Add : Debtors (Upto 90 Days) : 30% Less : Creditors : 30% Extent and Operation of the charge Hypothecation of stock and debtors: RS. 3.500 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	All the stock and boo debts tangible movable property (both present and future) belonging to the borrower/s and lying and being at the borrower's place of business at A-9 Ground Floor, Bhandup Industrial Estate, Bhandup (West). Plot No.1026/3, Near Gurudev compound, opp. Sonale Police Chowky, Bhiwandi. Hypothecation of charge in favour of the bank by way of first charge all the stock and book debts, outstaandings, monies, receivable, claims and bills which are now due and owing orwhich may at any time Hereafter during the continuance of this security become due and owing to the borrower/s in the course of his business by any person, firm, company or by the Government or any local or public body or authority.
Particulars of the present modification	The original charge was created on 27.3.2010 for Rs. 2.500 Millions. Now by the present MODFN. Dt. 22.3.2012 the limit has been increased from Rs. 2.500 Millions to Rs. 3.500 Millions

TRADE REFERENCE

· M.J Coaters Private Limited

· Sanoshi Polympers

FIXED ASSETS

· Plant and Machinery

· Computers

· Furniture and Fittings

AS PER WEBSITE DETAILS

PROFILE

Established in the year 2000, Subject has become a professional and experienced manufacturer of adhesive tapes in West India. With the support of long term accumulated technique, highly advanced manufacturing machines with coating width up to 2250mm one of its kinds in India, equipments and customer-oriented design and service, they can provide Surface Protection Film and other relevant tapes with high quality and competitive price. As a professional manufacturer in West India, they are pursuing more economic scales and building a great commercial reputation in the domestic market. Consequently, their products are selling well in many states in India.

Moreover, they are now ISO 9001:2008 Certified and they strictly stick to a systematic, effective management and quality control systems with their in house laboratory, which will ensure us, build long term business relationships with customers all over the world, and they are advancing into the international market drastically.

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.56.99
UK Pound	1	Rs.88.97
Euro	1	Rs.71.57

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		27

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.