MIRA INFORM REPORT

Report Date :

08.10.2012

IDENTIFICATION DETAILS

Name :	GLOBAL PRINTING AND PACKAGING COMPANY PRIVATE LIMITED
Registered Office :	A-83, Industrial Estate, Rajaji Nagar, Bangalore- 560044, Karnataka.
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	29.04.1998
Com. Reg. No.:	08- 023682
Capital Investment / Paid-up Capital :	Rs.13.275 Millions
CIN No.: [Company Identification No.]	U22212KA1998PTC023682
TAN No.: [Tax Deduction & Collection Account No.]	BLRG00957F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Printing and Packaging Cartons, Lables, Pharma Literature, Visual Aids, Greeting Cards.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 470000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct, and as per commitments. 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Sreenivasan
Designation :	Accounts Manager
Contact No.:	91-80-23208056
Date :	05.10.2012

LOCATIONS

Registered Office / Factory :	A-83, Industrial Estate, Rajaji Nagar, Bangalore- 560044, Karnataka, India.
Tel. No.:	91-80-23208056/ 23151577/ 23402656
Fax No.:	91-80-23106150
E-Mail :	manjunath@globalprintingpackaging.com rajhans_printers@vsnl.com global_printing@dataone.in dushyanthak@gmail.com global_packaging@dataone.in emmarjee@gmail.com
Location :	Owned

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Surendranath Krishna Setty Badwaram
Designation :	Director
Address :	No.12, Vinayaka Layout, 3^rd Stage, Vijayanagar, Bangalore-560040, Karnataka, India
Date of Birth/Age :	03.10.1956
Date of Appointment :	29.04.1998
DIN No.:	00882059

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U22211KA1974PTC002703	RAJHANS PRINTERS PRIVATE LIMITED	Director	14/11/1997	14/11/1997	Active	NO
2	U22212KA1998PTC023682	GLOBAL PRINTING AND PACKAGING COMPANY PRIVATE LIMITED	Director	29/04/1998	29/04/1998	Active	NO

Name :	Mr. Manjunath Krishna Setty Badwaram
Designation :	Director
Address :	No.193/B, 2^nd Block, 3^rd Crosss, West of Chord Road, 3^rd Stage, Basaveswaranagar, Bangalore-560040, Karnataka, India
Date of Birth/Age :	19.06.1958
Date of Appointment :	29.04.1998
DIN No.:	00882079

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U22211KA1974PTC002703	RAJHANS PRINTERS PRIVATE LIMITED	Director	12/08/1983	12/08/1983	Active	NO
2	U24139KA1979PTC003543	MYSORE PLASTICS AND CERAMICS PRIVATE LIMITED	Director	31/01/1990	31/01/1990	Active	NO
3	U22212KA1998PTC023682	GLOBAL PRINTING AND PACKAGING COMPANY PRIVATE LIMITED	Director	29/04/1998	29/04/1998	Active	NO

Name :	Mr. Amarnath Krishna Setty Badavaram
Designation :	Director
Address :	No.12, Vinayaka Layout, 3^rd Stage, Vijayanagar, Bangalore-560040, Karnataka, India
Date of Appointment :	01.10.2009
DIN No.:	00882105
Name :	Mr. Sanjeevanath Krishna Setty Badwaram
Designation :	Director
Address :	No.12, Vinayaka Layout, 3^rd Stage, Vijayanagar, Bangalore-560040, Karnataka, India
Date of Appointment :	01.10.2009
DIN No.:	00882116

KEY EXECUTIVES

Name :	Mr. Sreenivasan
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Sharmila Amarnath	9250
B K Surendranath	21000
B K Manjunath	23350
B K Sanjeevanath	18350
B K Amarnath	23000
B S Sandhya	12200
Bhavana Manjunath	10000
Sumana Sanjeevanath	10600
Rishab Electro Electrical Private Limited, India	5000
TOTAL	132750

AS ON 30.09.2011

Equity Shares Break Up	Percentage of Holding
Bodies corporate	25.00
Directors or relatives of Directors	75.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Printing and Packaging Cartons, Lables, Pharma Literature, Visual Aids, Greeting Cards.
Products :	Folding Cartons Wet glue Labels Roll Labels Leaflets (Pack Inserts) Fluted Cartons (E and F) Tissue Boxes Greeting Cards Table/ Wall Calenders Blister Cards Window Patched Boxes Brochures Hang Tang Shopping Bags User Manuals Liquor Labels 4 and 6 Corner Boxes CD Pouches Envelops Boxes for Toys Gift Boxes (Non- Rigid) Mobile Phone Boxes Shirt Boxes Hosiery Boxes Fabric Friendly Stickers
Exports :
Products :	Printing and Packaging Cartons Lables Pharma Literature
Countries :	Jordan Sri Lanka UK
Imports :
Products :	Raw Material
Countries :	Germany Finland UK Switzerland Denmark
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

PRODUCTION STATUS (AS ON : 31.03.2010)

Particulars	Actual Production
Printed Cartons, Catch Covers, Carry Bags, Wallets, Labels, Wrappers, Registers, Pouches, Envelopes, Corrg. Boxes	236174423 No. 1450 bags

GENERAL INFORMATION

Customers :

End Users

• Hindustan Lever Limited

No. of Employees :

200 (Approximately)

Bankers :

• State Bank of India, Commercial Branch, Rajajinagar Industrial Estate, Bangalore-560044, Karnataka, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
CC AT State Bank of India	58.678	55.980
(Against Book Debts, Stock)
TOTAL	58.678	55.980
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
From Directors	8.300	5.300
From Shareholders	5.850	3.100
TOTAL	14.150	8.400
Cash Credit Limit Rs. 55.000 Millions

Banking Relations :	--
Auditors :
Name :	Udaya Ravindra and Manoj Chartered Accountants
Address :	No.4, II Floor, Sree Ramabhadra Complex, No.4/5 Poojari Cheluvaiah Lane SJP Road, Cross, Bangalore – 560002, Karnataka, India
Tel. No.:	91-80-22239665
PAN No.:	AAAFU2166K
Associates:	Mysoro Plastic and Ceramics Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.100/- each	Rs. 30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
132750	Equity Shares	Rs.100/- each	Rs. 13.275 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		13.275	13.275	13.275
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		104.546	96.916	91.195
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		117.821	110.191	104.470
LOAN FUNDS
1] Secured Loans		58.678	55.980	49.388
2] Unsecured Loans		14.150	8.400	5.350
TOTAL BORROWING		72.828	64.380	54.738
DEFERRED TAX LIABILITIES		9.066	8.925	9.547
TOTAL		199.715	183.496	168.755
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		134.142	131.989	148.589
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	29.532	38.214	16.503
	Sundry Debtors	66.386	48.499	53.947
	Cash & Bank Balances	90.046	70.023	35.859
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	27.754	27.213	29.617
Total Current Assets		213.718	183.949	135.926
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	143.790	127.943	112.123
	Other Current Liabilities	4.355	4.499	3.637
	Provisions	0.000	0.000	0.000
Total Current Liabilities		148.145	132.442	115.760
Net Current Assets		65.573	51.507	20.166
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		199.715	183.496	168.755

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	303.495	245.830	230.061
		Other Income
		TOTAL	303.495	245.830	230.061
Less	EXPENSES
		Office Expenses
		Administrative Expenses	292.028	237.360	205.841
		Advertising Expenses
		TOTAL	292.028	237.360	205.841
	NET PROFIT		11.467	8.470	24.220

Particulars	31.03.2012
Sales Turnover (Approximately)	320.000

Expected Sales (2012-2013) : Rs. 350.000 Millions

The above information has been parted by Mr. Mr. Sreenivasan.

KEY RATIOS

PARTICULARS	31.03.2011	31.03.2010	31.03.2009
Debt Equity Ratio (Total Liability/Networth)	1.95	1.79	1.63
Current Ratio (Current Asset/Current Liability)	1.44	1.43	1.17

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
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
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

FORM 8

Corporate identity number of the company	U22212KA1998PTC023682
Name of the company	GLOBAL PRINTING AND PACKAGING COMPANY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	A-83, Industrial Estate, Rajiji Nagar, Bangalore- 560044, Karnataka, India.
This form is for	Modification of charge
Charge identification number of the charge to be modified	90196346
Type of charge	Immovable property Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	State Bank of India -Commercial Branch, Industrial Estate, Rajiji Nagar, Bangalore- 560044, Karnataka, India.
Nature of instrument creating charge	Letter Of Arrangement SME - 1.
Date of instrument Creating the charge	08.02.2011
Amount secured by the charge	Rs. 152.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest WCL - Rupee Exposure - At 6.75% Above BR, Present Effective Rate 14.35% Per Annum. Forex Exposure - 12 m LIBOR + 6.50% As Applicable To SB-8 Rated Company. Terms of repayment WCL - on demand. Advance is for a period of 12 months and subject to review as per sanction. Margin RM/SIP/FG/RECEIVABLES/LC - 25% Extent and operation of the charge Exclusive first charge on the assets of the company and to the full extent. Other CC (Stocks) Rs 32.500 Millions; CC (Receivables) Rs 30.000 Millions; LC Rs 20.000 Millions; one time LC Rs 70.000 Millions; Total Rs 152.500 Millions.
Short particulars of the property charged (Including location of the property)	Hypothecation of company's present and future movable fixed assets and current assets like stocks, raw materials, semi finished and finished goods, book debts, receivables, outstanding monies, bills, rights, stores, components, furniture and fittings; other movables, plant and machinery, vehicles and assets to be purchased out of bank finance. 1). EM of Western Portion of Industrial Shed at No. A-83/13, 4th Main Road, 6th Block, Industrial Estate, Rajajinagar, Bangalore in the name of M/s. Global Printing and Packaging Company Private Limited. 2). EM of leasehold rights belonging to M/s. Global Printing and Packaging Company Private Limited. of Eastern Portion of the Industrial Shed bearing No.A-83/13, 4th Main Road, 6th Block, Industrial Estate, Rajajinagar, Bangalore in Corporation Division No.16, Ward No.21 together with the building AC sheets roofing of approximately 321.40sq.mts. of Bricks wall and Cement mortar, Cement flooring steel frames, shutters and windows with electricity together with all rights, privileges and appurtenances.
Date of instrument modifying the charge	30.12.2010
Particulars of the present modification	The amount secured by the charge stands modified to Rs. 152.500 Millions. All other terms and conditions remain unchanged.

TRADE REFERENCES

• Hindustan Lever Limited

FIXED ASSETS

v Land

v Building

v Borewell

v Plant and Machinery

v Air Conditioners

v Refrigerator

v Furniture and Fixtures

v Computers

v UPS

v Printer

v Scooter

v Car

v Fire Extinguisher

v Aqua Guard

v Generator

v Cycle

v Office Equipments

v Electric Installation

v Toyota Qualis

v Wagon- R

v Toyota Innova

v TATA 407

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. 51.61
UK Pound	1	Rs. 83.57
Euro	1	Rs. 67.17

INFORMATION DETAILS

Information Gathered by :	SLP
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--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	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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		46

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.