MIRA INFORM REPORT

Report Date :

12.05.2012

IDENTIFICATION DETAILS

Name :	SSP PLASTIPACK PRIVATE LIMITED

Registered Office :	E-85, Sector – 1, DSIIDC Industrial Area, Bawana, Delhi – 110039

Country :	India

Financials (as on) :	31.03.2011

Date of Incorporation :	29.03.2010

Com. Reg. No.:	55-200894

Capital Investment / Paid-up Capital :	Rs.0.100 Million

CIN No.: [Company Identification No.]	U25190DL2010PTC200894

TAN No.: [Tax Deduction & Collection Account No.]	DELS41427B

PAN No.: [Permanent Account No.]	AAOCS0739H

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of Plastic Molded Components.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 20000

Status :	Moderate

Payment Behaviour :	Slow

Litigation :	Clear

Comments :	Subject is a successor of S.S. Polymers a proprietory concern started in the year 1993. Trade relations are reported as fair. Business is active. Payments are reported to be slow. 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

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. Vaibhav Sharma
Designation :	Director
Contact No.:	91-9212711818
Date :	25.04.2012

LOCATIONS

Registered Office :	E-85, Sector – 1, DSIIDC Industrial Area, Bawana, Delhi – 110039, India
Tel. No.:	91-11-64625363
Mobile No.:	91-9212711818 (Mr. Vaibhav Sharma)
Fax No.:	91-11-27750614
E-Mail :	s-spolymers@yahoo.co.in
Website :	www.sspplastipack.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Vaibhav Sharma

Designation :

Director

Address :

P-104, CR Park, New Delhi – 110019, India

Date of Birth/Age :

27.09.1985

Date of Appointment :

29.03.2010

DIN No.:

02942162

Name :

Mr. Sorav Sharma

Designation :

Director

Address :

P-104, CR Park, New Delhi – 110019, India

Date of Birth/Age :

03.11.1987

Date of Appointment :

29.03.2010

DIN No.:

03008978

Name :

Mr. Sanjay Kumar Sharma

Designation :

Director

Address :

P-104, CR Park, New Delhi – 110019, India

Date of Birth/Age :

01.07.1961

Date of Appointment :

29.03.2010

DIN No.:

03009133

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	U25190DL2010PTC200894	SSP PLASTIPACK PRIVATE LIMITED	Director	29/03/2010	29/03/2010	-	Active	NO
2	U51909DL2010PTC202887	GSM MARKETING PRIVATE LIMITED	Director	19/05/2010	19/05/2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders		No. of Shares
Mr. Sanjay Kumar Sharma		8000
Mr. Vaibhav Sharma		1000
Mr. Sorav Sharma		1000
Total		10000

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Plastic Molded Components.

Products :

Jars and Containers

Bleach Containers Set
Flat Jars
Round Jars
Dome Jars

Bottles

Shampoo Bottles
Hand and Body Lotion Bottles
Round Bottles
Aloe Vera Juice Bottles

Medicinal Applicators

Anal Applicators
Caps and Closures
Flip Top Caps
Screw Caps.

GENERAL INFORMATION

Suppliers :

Color Prints
DR International Private Limited
Uadan Enterprises C/o Vishali
Rahul Sales Corporation C/o Vishali
RV Polymers
S.K. Screen Printers
Sachdeva Polycolor Private Limited
Sharad Impex C/o Ramesh Plastic
Shree Ram Packaging Products
Sunil Polymers
SKR and Associates
Surender Plastic Udyog
TKH Plastics Private Limited
Vinod Plastics
Vishaii Polymers

Customers :

Astaberry Biosciences India Private Limited
Bridal Herbals
Divya Industries Limited
J.R. Herbal Care India Limited
J.R. Herbal Care
Jainsons Herbo Labs Private Limited
JMD Cosmetics
Kundan Care Products Limited - II
Kundan Care Products Limited
Magic of Herbs
National Bottle House
Natures Essence Private Limited
Odin Healthcare Private Limited
Private Label Cosmetics
Promark Techsolutions Private Limited
Proveda Herbals - Haridwar
Rising Sun Aromas and Spirituals Private Limited
Sai Health Care
Swisskem HealthCare
Symbiosis Pharmaceuticals Private Limited
Unique Herbals Research Lab.
VLCC Personal Care Limited,- Haridwar

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Electronica Finance Limited	1.147	0.000
Total	1.147	0.000

Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Sushiela	1.074	0.000
V. K. Mudgal	0.766	0.000
Sanjay Kr. Sharma	2.034	0.000
Vaibhav Sharma	1.469	0.000
Sorav Sharma	0.011	0.000
Total	5.354	0.000


Banking Relations :	--

Finance Institutions :	Electronica Finance Limited, 128/A, Plot No.3,Kailashchandra Apartments, Paud Road, Kothrud, Pune - 411038, Maharashtra, India

Auditors :
Name :	SKR and Associates Chartered Accountants
Address :	Rahul Apartments, 24/24, Ansari Road, Daryaganj, Delhi – 110002, India
Tel. No.:	91-11-23277368 / 23281372
E-Mail :	rkaggrawal_4000@rediffmail.com
PAN.:	ABGPS6977F

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount

10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

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		0.100	0.100
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.400	0.000
4] (Accumulated Losses)		0.000	(0.002)
NETWORTH		0.500	0.098
LOAN FUNDS
1] Secured Loans		1.147	0.000
2] Unsecured Loans		5.354	0.000
TOTAL BORROWING		6.501	0.000
DEFERRED TAX LIABILITIES		0.034	0.000

TOTAL		7.035	0.098

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		5.211	0.000
Capital work-in-progress		0.000	0.000

INVESTMENT		0.442	0.000
DEFERREX TAX ASSETS		0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.852	0.000
	Sundry Debtors	4.933	0.000
	Cash & Bank Balances	0.225	0.085
	Other Current Assets	0.150	0.000
	Loans & Advances	0.741	0.000
Total Current Assets		7.901	0.085
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	5.685	0.002
	Other Current Liabilities	0.679	0.000
	Provisions	0.155	0.000
Total Current Liabilities		6.519	0.002
Net Current Assets		1.382	0.083

MISCELLANEOUS EXPENSES		0.000	0.015

TOTAL		7.035	0.098

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2011	31.03.2010

	Turnover	31.707	0.000

	TOTAL EXPENSES	31.082	0.002

PROFIT BEFORE TAX		0.591	(0.002)

TAX		0.188	0.000

PROFIT AFTER TAX		0.403	(0.002)

Earnings Per Share (Rs.)		40.25	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010

Return on Total Assets (PBT/Total Assets}	(%)	4.51	(2.35)

Return on Investment (ROI) (PBT/Networth)		1.18	(0.02)

Debt Equity Ratio (Total Liability/Networth)		26.04	0.02

Current Ratio (Current Asset/Current Liability)		1.21	42.50

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	No
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 three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	No
17) Major suppliers	Yes
18) Major customers	Yes
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:

Subject was started as proprietory concern in the year 1993 with name S.S. Polymers. And it was converted into Private Limited in the year 2010.

OPERATIONS

During the year, the company incurred a Profit of Rs.0.591 Million as compared to Previous Year loss of Rs.0.002 Million before provision for Income Tax. The Directors are hopeful for a better result in the coming financial year

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U25190DL2010PTC200894
Name of the company	SSP PLASTIPACK PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	E-85, Sector-1, Dsidc Industrial Area, Bawana, Delhi – 110039, India s_spolymers@yahoo.co.in
This form is for	Creation of charge
Type of charge	Movable property (not being pledge)
Particular of charge holder	Electronica Finance Limited, 128/A, Plot No.3, Kailashchandra Apartments, Paud Road, Kothrud, Pune - 411038, Maharashtra, India finance@electronicafinance.com
Nature of instrument creating charge	Deed of hypothecation dated on 28th January, 2012.
Date of instrument Creating the charge	28.01.2012
Amount secured by the charge	Rs.3.917 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 14% per annum. Terms of Repayment 48 monthly installments. Extent and Operation of the charge First Charge.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	L and T Stech Series Injection Moulding Machines Model; Stech 100/420-600 Lnc5e 2 Nos. Lying At The Borrowers Premises At E-85, Sector 1, Dsidc, Industrial Area, Bawana, Delhi - 110039. Ingersoll Rand Screw Compressor With Std Accesoories- 1 Nos. Lying at The Borrowers Premises at E-85, Sector 1, Dsidc, Industrial Area, Bawana, Delhi - 110039.

Fixed Assets

Computer
Camara Digital
Carl
Air Conditioner
Mobile Phone
Plant and Machinery
Office Equipment
Weight Machine
Water Despenser
Electrical Equipment
Fire Extingusher
Mono Block Pumps
Pentair Home
Invertor
Facotry Building
Furniture and Fixture Land

WEBSITE

Profile

Formerly known as a S.S. Polymers, Subject is engaged in manufacturing qualitative range of Plastic Molded Components. They are a customer focused organization, committed to provide there clients with impeccable quality products at most competitive prices and within stipulated time frame. With over 15 years of experience in the Cosmetic and Pharmaceutical Industry, they have established ourselves among the most prominent business entities in this domain. They are regarded as an eminent manufacturer, exporter and supplier of the industry. They manufacture There Plastic Bottles and Containers through injection and blow molding processes. They are also an importer of Bottle Moulds and Spray Pumps.

There wide assortment comprises Jars and Containers, Bleach Containers Set, Flat Jars, Bottles, Shampoo Bottles, Hand and Body Lotion Bottles, Medicinal Applicators, Anal Applicators, Caps and Closures, etc. These products find wide applications in cosmetic, chemical / pharmaceutical, food and allied industries. Owing to the unrelenting efforts of There workforce, they have acquired immense molding expertise and excellence in product innovation. They are well equipped with precision injection and blow molding technology as well as backed by a strong quality management at all levels of operation.

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 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.53.64
UK Pound	1	Rs.86.42
Euro	1	Rs.69.29

INFORMATION DETAILS

Information Gathered by :	SVA

Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
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	2
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		26

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.

MIRA INFORM REPORT

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