MIRA INFORM REPORT

Report Date :

26.06.2012

IDENTIFICATION DETAILS

Name :	AYUSH FLEXIPACK PRIVATE LIMITED
Registered Office :	2303, Ashoka Enclave, Plot No.8A Sector 11, Dwarka, New Delhi -110075, Delhi
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	0.6.10.2010
Com. Reg. No.:	55-209154
Capital Investment/ Paid-up Capital:	Rs.3.750 Millions
CIN No.: [Company Identification No.]	U21020DL2010PTC209154
TAN No.: [Tax Deduction & Collection Account No.]	DELA26977G
PAN No.: [Permanent Account No.]	AAICA8618H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of laminated sheets, paper foil laminate, poly products and promotional products
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 12000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is relatively a new company having moderate track. The portability of the company appears to be low. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

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 DENIED BY

Name :	Mr. Aditya Kumar Ojha
Designation :	Director
Contact No.:	91-9312209417
Date :	23.06.2012

LOCATIONS

Registered Office :	2303, Ashoka Enclave, Plot No.8A Sector 11, Dwarka, New Delhi -110075, Delhi, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	ayushflexipack@gmail.com vyasvirendra@gmail.com
Factory :	B - 5, Sector -57, Noida -201301, Uttar Pradesh, India
Tel No.:	91-120-4159417

DIRECTORS

As on 08.06.2011

Name :	Mr. Aditya Kumar Ojha
Designation :	Director
Address :	2303, Ashoka Enclave, Plot No.8A Sector 11, Dwarka, New Delhi -110075, Delhi, India
Date of Birth/Age :	01.01.1965
Date of Appointment :	06.10.2010
Din No.:	03257820
Name :	Mamata Ojha
Designation :	Director
Address :	2303, Ashoka Enclave, Plot No.8A Sector 11, Dwarka, New Delhi -110075, Delhi, India
Date of Birth/Age :	31.03.1966
Date of Appointment :	06.10.2010
Din No.:	03257815

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 08.06.2011

Names of Shareholders	No. of Shares
Aditya Kumar Ojha	25000
Mamata Ojha	25000
Total	50000

As on 08.07.2011

Names of Allottes	No. of Shares
Aditya kumar Ojha	170200
Mamata Ojha	79800
Total	250000

As on 10.09.2011

Names of Allottes	No. of Shares
Devi bai Makhija	1800
Devi Kishan Makhija	2500
Gaurav Makhija	1400
Shej Lata Makhija	1800
Total	7500

As on 08.06.2011

Category	Percentage
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of laminated sheets, paper foil laminate, poly products and promotional products

GENERAL INFORMATION

Suppliers :

· Deluxe Engineering Works

· Impeltch Control Systems

· Indian Roller Industries Private Limited

· Shreeraj Roto India Limited

· Systech Pachagingm Machine

· TEcho Lift Engineers

· Vijay Power

· Shgun Offset Private Limited

· Shree jee newsprint Paper

· Ambica Associates

· Balaji Printo Pack

· Henkel Cack Private Limited

Customers :

· Haldiram Foods International Limited

· Holostik India Limited

· Mansfeld Consultacy

· Nav Bharat Enterprises

· Packotech Industries

· Raunak Paper

· Real Innersparing Tecnology Private Limited

· Sangam Trading Company

· Ulflex Limited

· Shree Flavours Private Limited

· Senior Box Factory Ramji Press

No. of Employees :

Not available

Bankers :

Corporation Bank, Mid Corporation Branch, G28/29, Sector -18, Noida -201301, Uttar Pradesh, India

Facilities :

Rs. In Millions

UNSECURED LOAN	31.03.2011
From Others
Dev Krishnan Makhija	0.430
Gaurav Makhija	0.140
Aseh Lata Makhija	0.180
Total	0.750

Banking Relations :	--
Auditors :
Name :	Virendra Vyas and Company
Address :	S-14 and 15, Shree Krishna Complex, Sharma Market, Sector -5, Noida -201301, Uttar Pradesh, India
Tel. No.:	91-120-2420012
Mobile No.:	91-9868176810
Fax No.:	Not available
E-Mail :	vyasvirendra@gmail.com
Web site:	www.cavyas.com
Pan No.:	AAHFV1237A

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Share	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Share	Rs.10/- each	Rs.0.500 Million

After 08.06.2011

Authorised Capital : Rs.5.000 Million

Issued, Subscribed & Paid-up Capital : Rs.3.750 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		0.500
2] Share Application Money		2.422
3] Reserves & Surplus		0.092
4] (Accumulated Losses)		0.000
NETWORTH		3.014
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.750
TOTAL BORROWING		0.750
DEFERRED TAX LIABILITIES		0.018
TOTAL		3.782
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.600
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4.262
	Sundry Debtors	3.391
	Cash & Bank Balances	0.201
	Other Current Assets	0.000
	Loans & Advances	0.715
Total Current Assets		8.569
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	4.941
	Other Current Liabilities	1.449
	Provisions	0.023
Total Current Liabilities		6.413
Net Current Assets		2.156
MISCELLANEOUS EXPENSES		0.026
TOTAL		3.782

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2011
TURNOVER	12.736
TOTAL EXPENDITURE	12.523
DEPRECIATION	0.080
PROFIT BEFORE TAX	0.132
TAX	0.022
PROFIT AFTER TAX	0.092
Earnings Per Share (Rs.)	1.84

KEY RATIOS

PARTICULARS		31.03.2011
PAT / Total Income	(%)	0.72
Return on Total Assets (PBT/Total Assets}	(%)	1.30
Return on Investment (ROI) (PBT/Networth)		0.04
Debt Equity Ratio (Total Liability/Networth)		2.38
Current Ratio (Current Asset/Current Liability)		1.34

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	No
Type of Business	Yes
Line of Business	Yes
Promoters background	Yes
No. of Employees	No
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last one year	Yes
Profitability for last one year	Yes
Reasons for variation <> 20%	-
Estimation for coming financial year	-
Capital the business	Yes
Details of sister concerns	No
Major Suppliers	Yes
Major Customers	Yes
Payment Terms	No
Export / Import Details [If Applicable]	No
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	Yes
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	Yes
Incorporation details, if applicable	Yes
Last accounts filed at ROC	Yes
Major Shareholders, if applicable	Yes

Form : 8

Corporate identity number of the company	U21020DL2010PTC209154
Name of the company	AYUSH FLEXIPACK PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	2303, Ashoka Enclave, Plot No.8A Sector 11, Dwarka, New Delhi -110075, Delhi, India Email: vyasvirendra@gmail.com
This form is for	Creation of charge
Type of charge	· Movable property (not being pledge) · Book Debts
Particular of charge holder	Corporation Bank, Mid Corporation Branch, G28/29, Sector -18, Noida -201301, Uttar Pradesh, India Email: cb0501@corpbank.co.in
Nature of instrument creating charge	Common deed of hypothecation of movables/ assets /debts.
Date of instrument Creating the charge	25.08.2011
Amount secured by the charge	Rs.8.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Base Rate 1.10% i. e. 11.75% p.a. at present subject to revision from time to time. The bank reserves the right to revise the rate of interest based on gradation or other reasons. Terms of repayment Cash credit - running account repayable on demand subject to annual renewal. Margin Stocks -25% Book-debts- 40% Extent and Operation of the charge: Charge on movables cum book-debts of the company is to secure Cash Credit limit of Rs.8.000 Millions granted by the Corporation Bank to the company.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Exclusive first charge by way of hypothecation of movables ( existing and future) comprising plant and machineries , factory equipments, electrical installations/ fittings, lab equipments, spares and tools etc. and hypothecation of stocks and receivables, book-debts which now belong to and may hereafter during the subsistence of borrower's liability belong to borrower which are already procured out of bank loan and which are shall may be brought into or stored and/or be in/upon the borrower premises situated at B-5, Sector -57, Noida -201301, Uttar Pradesh, India

FIXED ASSETS:

· Computer

· Plant and Machinery

· ACs

· Furniture

AS PER WEB SITE DETAILS

Profile:

Established in the year 2010, they have established their selves as one of the leading manufacturers and exporters of a wide range of special laminates, Poly products, Paper Foil laminate, induction sealing wads and promotional products. These are available as per the client’s needs and specific requirements. Dedicated to achieve maximum client satisfaction through their high quality range of products, they have today become a preferred choice by their clients based all over India.

They strive to develop long-term partnerships based on trust for mutual benefit. They put in all their efforts to continuously work on the principles of quality up gradation, reliability with quality products and timely supplies, cost reduction through continuous process up-gradation, productivity improvement and wastage control, business growth through enhanced volumes, etc.

Under the able guidance of their mentor, Aditya Kumar Ojha, who is having a vast experience of 22 years in this industry, they have carved a niche for their selves. Driven by an urge to succeed, they are today one of the most counted leading manufacturers of quality assured special laminates and various promotional products. Moreover, it is their quality products, transparent business dealings and cost effectiveness that given us a wide base of clients all over domestic market. Their products are known for moisture resistance, durability, smooth finish and are tamper-proof and cost-effective.

They have a very dedicated, experienced and hardworking team, which works painstakingly to provide the clients with a qualitative range of products. They are aware of the fact that to quality is the fundamental step towards achieving maximum customer satisfaction, which in turn will lead to the success and growth of their organization. Hence they take all measures to manufacture their range of products as per the international quality standards and provide world class special laminates, poly products and promotional products to their clients laying emphasis mainly on quality.

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.56.53
UK Pound	1	Rs.88.09
Euro	1	Rs.70.83

INFORMATION DETAILS

Information Gathered by :	SBA
Report Prepared by :	BYI

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	4
--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	NO
--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		28

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.