MIRA INFORM REPORT

Report Date :

14.09.2012

IDENTIFICATION DETAILS

Name :	PRINT-PACKAGING.COM PRIVATE LIMITED
Registered Office :	C-10, First Floor, Hari Nagar, Delhi- 110064
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	29.05.2002
Com. Reg. No.:	55-115576
Capital Investment / Paid-up Capital :	Rs.2.828 millions
CIN No.: [Company Identification No.]	U72900DL2002PTC115576
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is Engaged in the Business of Organising International and Regional Exhibition, Conferences and Seminars for the Printing, Packaging and Signage Industries.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 31000
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. The company can be considered 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.

LOCATIONS

Registered Office :	C-10, First Floor, Hari Nagar, Delhi- 110064, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	anilarora@indiapackagingshow.com

DIRECTORS

As on 15.07.2011

Name :

Ms. Neeta Arora

Designation :

Whole-time director

Address :

101, Rohan, Plot No. 104, Sector 12, Vashi, Navi Mumbai- 400703, Maharashtra, India

Date of Birth/Age :

18.11.1964

Date of Appointment :

29.05.2005

DIN No.:

00230572

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	U22219MH2001PTC133034	LABEL EXPOSITIONS PRIVATE LIMITED	Whole-time director	13/08/2001	13/08/2001	21/01/2008	Active	NO
2	U72900DL2002PTC115576	PRINT-PACKAGING.COM PRIVATE LIMITED	Whole-time director	29/05/2005	29/05/2005	-	Active	NO
3	U92190MH2007PTC177146	GO EVENTS PRIVATE LIMITED	Director	27/12/2007	27/12/2007	-	Active	NO
4	U93000DL2008PTC172283	AGOG EVENTS PRIVATE LIMITED	Director	04/01/2008	04/01/2008	-	Active	NO
5	U45400DL2008PTC175169	NEXT EVENTS PRIVATE LIMITED	Director	11/03/2008	11/03/2008	-	Active	NO

Name :

Ms. Garima Anil Arora

Designation :

Whole-time director

Address :

101, Rohan, Plot No. 104, Sector 12, Vashi, Navi Mumbai- 400703, Maharashtra, India

Date of Birth/Age :

29.11.1986

Date of Appointment :

05.01.2005

DIN No.:

01195648

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	U72900DL2002PTC115576	PRINT-PACKAGING.COM PRIVATE LIMITED	Whole-time director	05/01/2005	05/01/2005	-	Active	NO
2	U22219MH2001PTC133034	LABEL EXPOSITIONS PRIVATE LIMITED	Whole-time director	05/01/2005	05/01/2005	21/01/2008	Active	NO
3	U92190MH2007PTC177146	GO EVENTS PRIVATE LIMITED	Director	27/12/2007	27/12/2007	-	Active	NO
4	U93000DL2008PTC172283	AGOG EVENTS PRIVATE LIMITED	Director	04/01/2008	04/01/2008	-	Active	NO
5	U45400DL2008PTC175169	NEXT EVENTS PRIVATE LIMITED	Director	11/03/2008	11/03/2008	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 15.07.2011

Names of Shareholders	No. of Shares
Ms. Neeta Arora	4000
Mr. Anil Arora	100
Ms. Garima Arora	24182
Total	28282

Equity Share Break up (Percentage of Total Equity)

As on 15.07.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is Engaged in the Business of Organising International and Regional Exhibition, Conferences and Seminars for the Printing, Packaging and Signage Industries.

Products :

Item Code No. (ITC Code)	NA
Product Description	Exhibitions and Event Management

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

Secured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Loans and Advances from Banks (Loan secured against office premises of the company)	15.460	7.195
Other Loans and Advances(Secured against Vehicle)	1.416	0.523
Total	16.876	7.718

Banking Relations :	--
Auditors :
Name :	KTS and Associates Chartered Accountants
Address :	C-10, Hari Nagar, New Delhi- 110064, India
Tel. No.:	91-11-25497623
PAN No.:	AAGFK2871F

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
28282	Equity Shares	Rs.100/- each	Rs.2.828 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		2.828	2.828	2.828
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		5.091	4.054	0.993
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		7.919	6.882	3.821
LOAN FUNDS
1] Secured Loans		16.876	7.718	8.518
2] Unsecured Loans		0.000	0.000	0.100
TOTAL BORROWING		16.876	7.718	8.618
DEFERRED TAX LIABILITIES		0.000	0.000	0.067
TOTAL		24.795	14.600	12.506
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		17.560	7.553	8.637
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.124	0.099	0.099
DEFERRED TAX ASSETS		0.092	0.056	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	2.223	1.742	2.161
	Cash & Bank Balances	0.469	3.642	1.207
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	16.466	24.339	16.347
Total Current Assets		19.158	29.723	19.715
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2.061	1.421	0.848
	Other Current Liabilities	5.431	13.519	5.759
	Provisions	4.663	7.923	9.386
Total Current Liabilities		12.155	22.863	15.993
Net Current Assets		7.003	6.860	3.722
MISCELLANEOUS EXPENSES		0.016	0.032	0.048
TOTAL		24.795	14.600	12.506

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL	63.845	46.033	45.235
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	56.203	36.120	34.934
	PROFIT BEFORE TAX		7.642	9.913	10.301
Less	TAX		1.988	2.716	3.133
	PROFIT AFTER TAX		5.654	7.197	7.168
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2.604	0.273	(0.219)
Less	APPROPRIATIONS
		Transfer to General Reserve	0.600	0.730	0.720
		Dividend	3.959	3.535	5.091
		Tax on Dividend	0.658	0.601	0.865
	BALANCE CARRIED TO THE B/S		3.041	2.604	0.273
	EARNINGS IN FOREIGN CURRENCY
		Exhibition Income	3.522	2.305	2.956
	TOTAL EARNINGS		3.522	2.305	2.956
	Earnings Per Share (Rs.)		199.90	254.47	253.46

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	8.86	15.63	15.85
Return on Total Assets (PBT/Total Assets}	(%)	20.81	26.59	36.33
Return on Investment (ROI) (PBT/Networth)		0.97	1.44	2.70
Debt Equity Ratio (Total Liability/Networth)		3.67	4.44	6.44
Current Ratio (Current Asset/Current Liability)		1.58	1.30	1.23

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	No
9]	Name of person contacted	No
10]	Designation of contact person	No
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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-------
22]	Litigations that the firm / promoter involved in	-------
23]	Banking Details	No
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

OPERATIONS:

During the year, annual events were held in April 2010 at Hyderabad and in December’2010 at Pragati Maidan, New Delhi. The performance of the events was satisfactory in terms of wide spread participation of the exhibitors and the visitors. Both the events were very well received by the industry and the Company is confident of consolidating the big gains from the events in the coming years. Although the top line showed a healthy growth of over 35% but due to higher costs of hiring the venue, mainly the Pragati Maidan at New Delhi, the net bottom line after taxes showed a decline of approx 20%. The future events are scheduled to be held in Hyderabad (July’2011), Mumbai (November’2011) and New Delhi (December’2011). The directors are confident of making each show a good success.

Note:

The Registered office of the company has been shifted from E-6, 1^st Floor, Lajpatnagar-II, New Delhi-110024, India to the present address w.e.f. 01.04.2011

FIXED ASSETS:

· Air Conditioner

· Business Property

· Camera

· Computer

· Computer Software

· EPBX

· Fax Machine

· Furniture &Fixtures

· Motor Car

· Laptop

· LCD TV (Sharp)

· Mobile

· Office Equipment

· Scanner

· Scooter

· UPS Inverter

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.55.44
UK Pound	1	Rs.89.31
Euro	1	Rs.71.62

INFORMATION DETAILS

Report Prepared by :

MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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		44

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.