1. Summary Information

			Country	India
Company Name	ANJANI TECHNOPLAST LIMITED		Principal Name 1	Mr. Raj Kishore Gupta
Status	Moderate		Principal Name 2	Mrs. Lavina Gupta
			Registration #	55-30784
Street Address	G-126, Vikas Puri, Delhi - 110018, India
Established Date	29.02.1988		SIC Code	--
Telephone#	Not Available		Business Style 1	Manufacturer
Fax #	Not Available		Business Style 2	exporter
Homepage	www.anjani.com		Product Name 1	Safety, Security and Ballistic Protection Product
# of employees	Not Available		Product Name 2	--
Paid up capital	Rs.65,479,300/-		Product Name 3	--
Shareholders	--		Banking	Oriental Bank of Commerce
Public Limited Corp.	--		Business Period	25 Years
IPO	--		International Ins.	-
Public Enterprise	--		Rating	B (27)
Related Company
Relation		Country	Company Name	C.E.O.
Associates/Subsidiaries		India	ATL Overseas Limited	--
Note		-

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	256,129,000	Current Liabilities	268,569,000
Inventories	230,676,000	Long-term Liabilities	571,881,000
Fixed Assets	495,395,000	Other Liabilities	94,097,000
Deferred Assets	0,000	Total Liabilities	934,547,000
Invest& other Assets	50,000	Retained Earnings	0,000
	0	Net Worth	47,703,000
Total Assets	982,250,000	Total Liab. & Equity	982,250,000
Total Assets (Previous Year)	1015,081,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	286,808,000	Net Profit	(231,414,000)
Sales(Previous yr)	290,192,000	Net Profit(Prev.yr)	(31,250,000)

MIRA INFORM REPORT

Report Date :

25.02.2013

IDENTIFICATION DETAILS

Name :	ANJANI TECHNOPLAST LIMITED
Formerly Known As :	ANJANI THERMOFORMERS LIMITED
Registered Office :	G – 126, Vikas Puri, Delhi – 110018
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	29.02.1988
Com. Reg. No.:	55-30784
Capital Investment / Paid-up Capital :	Rs.65.479 Millions
CIN No.: [Company Identification No.]	U01401DL1988PLC030784
TAN No.: [Tax Deduction & Collection Account No.]	DELA13649G
PAN No.: [Permanent Account No.]	AACCA3104G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and exporters of Safety, Security and Ballistic Protection Product.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 190000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	--
Comments :	Subject is an established company having moderate track record. There appears some accumulated losses recorded by company. However, 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 cautions.

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 :	G-126, Vikas Puri, Delhi - 110 018, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	vinodraina@anjani.com
Website :	www.anjani.com
Head Office/ Factory :	6A, Sector-40/41, Greater Noida – 201 306, Uttar Pradesh, India
Tel. No.:	91-120-4789000 (200 Lines)/ 3921600 /3921686/3921607
Fax No.:	91-120-4789059/ 3921659
E-Mail :	info@anjani.com niranjana@anjani.com atl@anjani.com
Overseas Office :	400 Galleria Parkway, Ste 1500, Atlanta, GA 30339, USA
Tel. No.:	+1 678-392-1213
Fax No.:	+1 678-302-7300
E-Mail :	rajeev@anjani.com atl@anjani.com

DIRECTORS

As on 30.09.2009

Name :	Mr. Raj Kishore Gupta
Designation :	Managing Director
Address :	A-97, Sector-31, Noida-201 301, Uttar Pradesh, India
Date of Birth/Age :	06.01.1963
Date of Appointment :	29.09.1988
Name :	Mrs. Lavina Gupta
Designation :	Whole-time Dirctor
Address :	A-97, Sector-31, Noida-201 301, Uttar Pradesh, India
Date of Birth/Age :	18.08.1966
Date of Appointment :	04.10.1991
Name :	Mr. Atul Kumar Jain
Designation :	Director
Address :	KM-167, Kavi Nagar, Ghaziabad-201 001, Uttar Pradesh, India
Date of Birth/Age :	14.11.1960
Date of Appointment :	25.03.2005
Name :	Mr. Narinder K. Malhotra
Designation :	Director
Address :	G – 126, Vikas Puri, New Delhi – 110 018, India
Date of Birth/Age :	27.01.1944
Date of Appointment :	25.03.2005
Name :	Mr. Satguru Saran
Designation :	Director
Address :	A-97, Sector-31, Noida-201 301, Uttar Pradesh, India
Date of Birth/Age :	04.08.1939
Date of Appointment :	20.09.1997
Name :	Mr. Rajeev Bhardwaj
Designation :	Director
Address :	23222, Deflower Dr. Katy TX, United State of America, 77494
Date of Birth/Age :	20.07.1964
Date of Appointment :	01.04.2007
Name :	Mr. Shubh Gautam
Designation :	Director
Address :	A-104, Sector 40, Gautam Budh Nagar, Noida - 201301, Uttar Pradesh, India
Date of Birth/Age :	20.05.1968
Date of Appointment :	30.09.2010
DIN No.:	00118539

KEY EXECUTIVES

Name :	Mr. Vinod Kumar Raina
Designation :	Secretary
Address :	183-C, Shipra Suncity, Indirapuram, Ghaziabad-201010, Uttar Pradesh, India
Date of Birth/Age :	12.07.1975
Date of Appointment :	06.07.2006

MAJOR SHAREHOLDERS

Not Available

BUSINESS DETAILS

Line of Business :

Manufacturer and exporters of Safety, Security and Ballistic Protection Product.

PRODUCTION STATUS As on (31.03.2011)

Particulars	Unit	Licensed Capacity and Installed Capacity	Actual Production
Safety and Ballistic Products	Nos	222,000	51941
Plastic Products	Kg/ Nos	N. A.	1978234

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Oriental Bank of Commerce, 7, Mahilla Colony, Gandhi Nagar, Delhi-110031, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Long Term Borrowing
Rupee term loans from banks	1.164	0.789
Other loans and advances	0.000	1.541
Short Term Borrowing	0	0
Working capital loans from banks	431.603	243.743
Borrowing from government semi-government bodies	14.843	14.812
Total	447.610	260.885

Banking Relations :	--
Auditors :
Name :	Somani and Company Chartered Accountants
Address :	204, Dreamland House,1/18 B, Asaf Ali Road, New Delhi - 110002, India
PAN.:	AAOFS5269H
Associates/Subsidiaries :	ATL Overseas Limited CIN No.: U25209DL1997PLC090152

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	Rs.10/- each	Rs.80.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6547930	Equity Shares	Rs.10/- each	Rs.65.479 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		65.479	65.479	65.479
2] Share Application Money		4.850	12.350	0.000
3] Reserves & Surplus		0.000	209.075	241.231
4] (Accumulated Losses)		(22.626)	0.000	0.000
NETWORTH		47.703	286.904	306.710
LOAN FUNDS
1] Secured Loans		447.610	260.885	363.743
2] Unsecured Loans		124.271	138.158	46.492
TOTAL BORROWING		571.881	399.043	410.235
DEFERRED TAX LIABILITIES		88.973	54.074	46.883
TOTAL		708.557	740.021	763.828
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		495.395	522.340	552.687
Capital work-in-progress		0.000	0.077	5.465
INVESTMENT		0.050	0.112	0.112
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	230.676	237.721	194.037
	Sundry Debtors	176.273	159.735	105.762
	Cash & Bank Balances	9.500	12.697	27.991
	Other Current Assets	0.745	0.901	0.000
	Loans & Advances	69.611	81.498	65.486
Total Current Assets		486.805	492.552	393.276
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	100.758	128.431	128.431
	Other Current Liabilities	167.811	141.925	45.626
	Provisions	5.124	4.704	13.655
Total Current Liabilities		273.693	275.060	187.712
Net Current Assets		213.112	217.492	205.564
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		708.557	740.021	763.828

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from Operations	286.808	290.192	981.405
		Other Income	3.651	56.270	17.064
		TOTAL (A)	290.459	346.462	998.469
Less	EXPENSES
		Cost of materials consumed	258.081	165.030	854.765
		Purchases of stock-in-trade	0.000	0.000
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(12.579)	(15.262)
		Employee benefit expense	43.167	47.028
		Other expenses	77.677	71.107
		TOTAL (B)	366.346	267.903	854.765
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(75.887)	78.559	143.704
Less	FINANCIAL EXPENSES (D)		90.413	71.783	73.962
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(166.300)	6.776	69.742
Less/ Add	DEPRECIATION/ AMORTISATION (F)		30.215	30.835	22.176
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(196.515)	(24.059)	47.566
Less	TAX (H)		34.899	7.191	24.566
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(231.414)	(31.250)	23.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		137.800	170.000	146.943
Less	Prior Period Adjustments		NA	0.900	0.000
	BALANCE CARRIED TO THE B/S		NA	137.800	169.944
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Export	NA	66.738	273.345
	TOTAL EARNINGS		NA	66.738	273.345
	IMPORTS
		Raw Materials	NA	14.014	436.410
		Stores & Spares		0.000	0.271
	TOTAL IMPORTS		NA	14.014	436.681
	Earnings/ (Loss) Per Share (Rs.)		0.00	0.00	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(79.67)	(9.02)	2.30
Net Profit Margin (PBT/Sales)	(%)	(68.52)	(8.29)	4.85
Return on Total Assets (PBT/Total Assets}	(%)	(20.01)	(2.37)	5.03
Return on Investment (ROI) (PBT/Networth)		(4.12)	(0.08)	0.16
Debt Equity Ratio (Total Debt/Networth)		11.99	1.39	1.34
Current Ratio (Current Asset/Current Liability)		1.78	1.79	2.10

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	Yes
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	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	No
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

REVIEW OF OPERATIONS:

During the year 2011-12 the company's turnover has decreased from Rs. 289.166 Millions to Rs. 286.459 Millions The company has incurred loss of Rs.231.413 Millions against the loss of Rs. 31.250 Millions for the previous year.

UNSECURED LOAN:

Particulars	As on 31.03.2012	As on 31.03.2011
Short Term Borrowing
Loans and advances from related parties	124.271	138.158
Total	124.271	138.158

BANKERS CHARGES REPORT AS PER REGISTRY:

Corporate identity number of the company	U01401DL1988PLC030784
Name of the company	ANJANI TECHNOPLAST LIMITED
Address of the registered office or of the principal place of business in India of the company	G – 126 vikas Puri, Delhi - 110018, India info_infotech@yahoo.co.in
This form is for	Creation of charge
Type of charge	· Immovable property · Movable property (not being pledge)
Particular of charge holder	Oriental Bank of Commerce, 7, Mahilla Colony, Gandhi Nagar, Delhi-110 031, India bm0085@obc.co.in
Nature of instrument creating charge	Agreement of Term Loan (Loan Doc-5) dated 30th November' 2012.
Date of instrument Creating the charge	30.11.2012
Amount secured by the charge	Rs.81.500 Mi9llions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Rate of Interest: At BR+2.75% p.a. with monthly rests, subject to changes in BR/Spread from time to time. Penal Interest : 2% p.a. over and above the rate on overdrawn portion shall be applicable. Terms of Repayment The loan shall be repaid in 78 equal monthly installments of Rs.1.044 Millions each plus interest. The First Installment shall fall due in 30th June' 2013. Interest as and when due shall be recovered till full and final settlement of loan account. Margin 40% on Property Value. Extent and Operation of the charge The bank has granted Term Loan (LAP) of Rs. 81.500 Millions against Equitable Mortgage of Lease Hold self occupied residential property on plot bearing no. E-109 , Jaypee Greens Greater Noida-201 302 UP standing in the name of M/S. ATL Overseas Limited and plot no. 11 and 12 and Khevat NO. 4 and Khasra No. 437, and 119/77 and 352,533/192, situated at Sheetal Chhaya Mauja Vrindaban Bangar, Vrindaban, District Mathura in the name of Mrs. Lavina Gupta (Director)
Short particulars of the property or asset(s) charged (including complete address and location of the property)	· Equitable Mortgage of Lease Hold self occupied residential property on plot bearing no. E-109, Jaypee Greens Greater Noida-201 302 UP standing in the name of M/S. ATL Overseas Limited · Equitable Mortgage of residential property on plot no. 11 and 12 and Khevat NO. 4 and Khasra No. 437, and 119/77 and 352,533/192, situated at Sheetal Chhaya Mauja Vrindaban Bangar, Vrindaban, District Mathura in the name of Mrs. Lavina Gupta, Director of the Company. · Personal Gurantee of Mrs. Lavina Gupta, Director of the Company. · Personal Guarantee of Mr. R.K Gupta, Director of the Company.

FIXED ASSETS:

• Land-Leasehold
• Building
• Plant and Machinery
• Furniture and Fixtures
• Electrical Installations
• Office Equipments
• Vehicles
• Computers
• Mould and Dies
• Tools and Implements
• Air Conditioners
• Staff Bus
• Fire Fighting Equipments

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 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.54.43
UK Pound	1	Rs.83.20
Euro	1	Rs.71.91

INFORMATION DETAILS

Report Prepared by :

RAJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	5
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	2
--CREDIT LINES	1~10	2
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		27

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.