MIRA INFORM REPORT

Report Date :

26.05.2012

IDENTIFICATION DETAILS

Name :	UNNATI WRITING PRODUCTS PRIVATE LIMITED
Registered Office :	22, Buroshibtolla Main Road, Kolkata – 700038, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	28.03.2008
Com. Reg. No.:	21-124587
Capital Investment / Paid-up Capital :	Rs.6.234 Millions
CIN No.: [Company Identification No.]	U74990WB2008PTC124587
TAN No.: [Tax Deduction & Collection Account No.]	CALU03257C
PAN No.: [Permanent Account No.]	AAACU9771H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Ball Pens.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 210000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a 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 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. Sudarshan Gupta
Designation :	Managing Director Accounts
Contact No.:	91-033-24009846
Date :	07.05.2012

LOCATIONS

Registered Office :	22, Buroshibtolla Main Road, Kolkata – 700038, West Bengal, India
Tel. No.:	91-033-24009846 / 24889762 / 24009761
Mobile No.:	91-9830032962 (Mr. Gaurav Gupta)
Fax No.:	91-33-24001832
E-Mail :	unnatiwritting@vsnl.net r_s_associates9@yahoo.co.in
Website :	www.unnatiwriting.com
Location :	Owned
Factory :	36, Buroshibtolla Main Road, Kolkata – 700038, West Bengal, India

DIRECTORS

As on 30.09.2011

Name :

Mr. Raj Kumar Goyal

Designation :

Director

Address :

2B, Lansdowne Place, Kolkata – 700029, West Bengal, India

Date of Birth/Age :

01.07.1962

Date of Appointment :

28.03.2008

DIN No.:

02047318

Name :

Mr. Sudarshan Gupta

Designation :

Director

Address :

P-9 Unique Park, Kolkata – 700034, West Bengal, India

Date of Birth/Age :

03.04.1955

Date of Appointment :

28.03.2008

DIN No.:

02024969

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	U74990WB2008PTC124587	UNNATI WRITING PRODUCTS PRIVATE LIMITED.	Director	28/03/2008	28/03/2008	-	Active	NO
2	U36991RJ2010PLC032593	IGI PENS LIMITED	Director	12/8/2010	12/8/2010	-	Active	NO
3	U23109WB2011PTC165034	ALLIANCE COKE CALCINER PRIVATE LIMITED	Director	18/07/2011	18/07/2011	-	Active	NO

Name :

Mr. Ashok Goyal

Designation :

Director

Address :

2B, Lansdowne Place, Kolkata – 700029, West Bengal, India

Date of Birth/Age :

25.10.1958

Date of Appointment :

08.12.2010

DIN No.:

00253480

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	U74899DL1994PTC060889	GREEN FINGERS (INDIA) PRIVATE LIMITED	Director	12/8/1994	12/8/1994	-	Active	NO
2	U65921WB1995PTC067607	RANKS FISCALS PRIVATE LIMITED	Director	19/01/1995	19/01/1995	-	Active	NO
3	U25209WB1995PTC071543	TRIFACE MOULDERS PRIVATE LIMITED	Director	13/09/2004	13/09/2004	-	Active	NO
4	U36991WB1997PTC085833	TENTY MARKETING COMPANY PRIVATE LIMITED	Director	1/1/2005	1/1/2005	-	Active	NO
5	U74990WB2008PTC124587	UNNATI WRITING PRODUCTS PRIVATE LIMITED	Director	8/12/2010	8/12/2010	-	Active	NO
6	U31501WB2009PLC132426	VISHVA ELECTROTECH LIMITED	Director	30/09/2011	28/12/2010	-	Active	NO
7	U27109WB1997PTC082454	DOLSWAP BUSINESS PRIVATE LIMITED	Director	14/10/2011	14/10/2011	-	Active	NO

Name :

Mr. Suranjan Gupta

Designation :

Director

Address :

P-27A Unique Park, Kolkata – 700034, West Bengal, India

Date of Birth/Age :

15.06.1960

Date of Appointment :

28.03.2008

DIN No.:

02025106

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Raj Kumar Goyal	18000
Sudarshan Gupta	38500
Suranjan Gupta	18500
Crawford Marketing Private Limited, India	16000
Balkash Exim Private Limited, India	36000
Budapest Traders Private Limited, India	16000
Engee Management Consultants Private Limited, India	10000
Dhanvanti Commodities Private Limited, India	10000
Shagun Shree Construction Private Limited, India	10000
Shree Ganesh Enclave Private Limited, India	10000
Rodrifues Impex Private Limited, India	10000
Lifeline Commotrade Private Limited, India	16000
Deesha Tie-UP Private Limited, India	14000
Shyam Sundar Sharma	1500
Pradeep Trade and Credit Private Limited, India	2000
Ankit Commotrade Private Limited, India	9000
Maple Mercantile Private Limited, India	10000
Vighuhar Marketing Private Limited, India	10000
Garodia Securities Limited, India	16900
Shyam Gupta	42000
Vinay Gupta	28000
Gourav Gupta	30000
Ranks Fiscals Private Limited, India	90000
Rashmi Tie-UP Private Limited, India	10000
Manpasand Agency Private Limited, India	10000
Vico Syntex Private Limited, India	10000
Mubarak Lubricant Private Limited, India	25000
Remix Dealers Private Limited, India	10000
Bancon Resources Private Limited, India	10000
Vincash Resources Private Limited, India	10000
Punya Leather Private Limited, India	10000
Trammel Trading Private Limited, India	10000
Ziwani Barter Private Limited, India	10000
Sumit Sales Agency Private Limited, India	10000
Singh transport Company Private Limited, India	10000
Greenview Developers Private Limited, India	10000
Ashok Goyal	16000
Total	623400

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	69.12
Directors or relatives of Directors	30.64
Other top fifty shareholders	0.24
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Ball Pens.

Products :

• Direct fill Pen
• Refillable Pen
• Coloured Pens
• Plastic Pens
• Ballpoint Pens

Product Description	ITC Code
Pens and Accessories	9608

Exports :

Products :

Ball Pens.

Countries :

• Dubai
• Tanzania

Terms :

Selling :

Cash / Credit

Purchasing :

Cash / Credit

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Unit	Actual Production
Pen	Pcs.	116493082

GENERAL INFORMATION

Suppliers :

Reliance Petrochem

Customers :

Many Companies

• Montex
• Cello

No. of Employees :

100 (Approximately)

Bankers :

• Allahabad Bank, Park Street Branch, Kolkata, West Bengal, India
• Tata Capital Limited, One Forbes, Dr V B Gandhi Marg,Fort, Mumbai - 400001, Maharashtra, India
• HDFC Bank

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Term Loan
West Bengal Financial Corporation	54.076	5.760
Tata Capital Limited	0.000	4.587
Working Capital Loan
West Bengal Financial Corporation	0.000	23.600
Allahabad Bank	49.180	0.000
Hire Purchase Loan
HDFC Bank	0.734	0.278
Total	103.990	34.225
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
From Bank	2.183	3.110
From Bodies Corporate	6.799	14.607
From Director	3.093	4.188
Total	12.075	21.905

Banking Relations :
Auditors :
Name :	Agarwal and Agarwal Chartered Accountants
Address :	74, Bentick Street, Kolkata – 700001, West Bengal, India
PAN.:	AEKPP9129F
Associates :	Aloke Enterprise Progressive Enterprise Ramarpit Fiscal Private Limited Excellent Moulders Ranks Fiscals Private Limited Tenty Marketing Co. Private Limited Unnati Writing Products Dolswap Business Private Limited Nutech Plastic MOulders Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
623400	Equity Shares	Rs.10/- each	Rs.6.234 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		6.234	4.784	3.815
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		46.938	27.486	18.544
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		53.172	32.270	22.359
LOAN FUNDS
1] Secured Loans		103.990	34.225	24.507
2] Unsecured Loans		12.075	21.905	15.741
TOTAL BORROWING		116.065	56.130	40.248
DEFERRED TAX LIABILITIES		3.352	1.619	1.159
TOTAL		172.589	90.019	63.766
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		75.674	31.476	33.898
Capital work-in-progress		1.010	1.010	2.716
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	54.299	29.506	21.504
	Sundry Debtors	35.725	20.267	10.015
	Cash & Bank Balances	19.624	11.915	5.892
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	22.557	18.072	2.545
Total Current Assets		132.205	79.760	39.956
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	25.521	20.670	12.166
	Other Current Liabilities	10.403	1.318	0.638
	Provisions	0.376	0.239	0.000
Total Current Liabilities		36.300	22.227	12.804
Net Current Assets		95.905	57.533	27.152
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		172.589	90.019	63.766

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	211.384	170.088	138.869
		Other Income
		TOTAL (A)	211.384	170.088	138.869
Less	EXPENSES
		Office Expenses
		Administrative Expenses	195.412	158.103	130.401
		Advertising Expenses
		TOTAL (B)	195.412	158.103	130.401
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		15.972	11.985	8.468
Less/ Add	DEPRECIATION/ AMORTISATION (F)		5.795	4.559	3.006
	PROFIT BEFORE TAX (E-F) (G)		10.177	7.426	5.462
Less	TAX (H)		2.041	1.901	0.618
	PROFIT AFTER TAX (G-H) (I)		8.136	5.525	4.844
Less	Profit after deferred tax liability		1.734	0.460	1.159
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		8.749	3.684	(0.001)
	BALANCE CARRIED TO THE B/S		15.151	8.749	3.684
	Earnings Per Share (Rs.)		11.80	12.76	23.43

Particulars	31.03.2012
Sales Turnover (Approximately)	300.000

The above information has been parted by Mr. Sudarshan Gupta

Note : Sole Proprietory and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry Records.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	3.85	3.25	3.49
Return on Total Assets (PBT/Total Assets}	(%)	4.90	6.68	7.40
Return on Investment (ROI) (PBT/Networth)		0.19	0.23	0.24
Debt Equity Ratio (Total Liability/Networth)		2.87	2.42	2.37
Current Ratio (Current Asset/Current Liability)		3.64	3.59	3.12

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	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	No
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

Trade References

• Reliance Petrochem
• Montex
• Cello

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U74990WB2008PTC124587
Name of the company	UNNATI WRITING PRODUCTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	22, Buroshibtolla Main Road, Kolkata – 700038, West Bengal, India r_s_associates9@yahoo.co.in
This form is for	Creation of charge
Type of charge	Immovable property Book debts Floating charge Others (Pledge of FD,RD,LIC)
Particular of charge holder	Allahabad Bank, Park Street Branch, 57,Park Street, Kolkata – 700016, West Bengal, India br.parkstreet@allahabadbank.in
Nature of instrument creating charge	General letter of Hypothecation dated 01.11.2010.
Date of instrument Creating the charge	01.11.2010
Amount secured by the charge	Rs.50.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Cash Credit- BR+3.0%p.a.w.m.r (presently BR at 8.50% p.a. w.m.r) Terms of Repayment Cash Credit-On Demand Margin Cash Credit-25% on stock and Book debts upto 90 Days Extent and Operation of the charge Cash Credit-Rs.50.000 millions First hypothecation charge over the entire current assets of the company including stock of raw materials,stock in process,finished goods and book debts,both present and future.(2nd charge being with WBFC)
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Exclusive mortgage charge over property at Premises no.19,Unique Park, Flat no.3B, 3rd Floor, Western side, P.S. Behala ,Kolkata-34 valuing Rs.2.899 Millions as per valuation report dated 21.09.2010 2nd charge over the fixed assets both present and future of the unit's factory at 238 Roy Bahadur Road P.S Behala, Kol-53 and at 22 and 36 Buroshibtolla Main Road Kolkata-38.(1st charge being with WBFC) Pledge of RD of Rs.0.100 Million per month for the period of 5 years. Pledge of LIC of 3 directors with premium of Rs.0.150 Million Pledge of Fixed Deposit of Rs.8.000 Millions Personal guarantee of the directors and owner of the property

Fixed Assets

· Building

· Plant and Machinery

· Mould

· Computer

· Furniture and Fixture

· Vehicle

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.56.29
UK Pound	1	Rs.88.26
Euro	1	Rs.70.82

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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		48

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.