MIRA INFORM REPORT

Report Date :

02.01.2013

IDENTIFICATION DETAILS

Name :	KRIS FLEXIPACKS PRIVATE LIMITED (w.e.f. 31.07.2007)
Formerly Known As :	NIKITA PLAST INDUSTRIES PRIVATE LIMITED
Registered Office :	65, Shanti Industrial Estate, S.N. Road, Mulund (West), Mumbai – 400 080, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	06.03.2007
Com. Reg. No.:	11-168369
Capital Investment / Paid-up Capital :	Rs.100.000 Millions
CIN No.: [Company Identification No.]	U25209MH2007PTC168369
TAN No.: [Tax Deduction & Collection Account No.]	MUMN14534C
PAN No.: [Permanent Account No.]	AACCN4672Q
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of high quality Packaging Products.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 2841000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. There appears some dip in the profits earned during 2012. However, financial position of the company appears to be good. Trade relations are reported as decent. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for business dealings at usual trade terms and conditions. Profit and loss account of the company for the current year i.e. 2012 is not available.

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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Short Term Bank Facilities (Non-fund based) A3+
Rating Explanation	Moderate degree of safety it carry higher credit risk.
Date	18.10.2012

Rating Agency Name	CARE
Rating	Short Term Bank Facilities (Fund Based) BBB+
Rating Explanation	Moderate degree of safety it carry moderate credit risk.
Date	18.10.2012

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 :	65, Shanti Industrial Estate, S.N. Road, Mulund (West), Mumbai – 400 080, Maharashtra, India
Tel. No.:	91-22-67742222/ 25907080
Fax No.:	91-22-67742222/ 67742399/ 67973894
E-Mail :	kris.legal@krisflexipacks.com cs@pwiconnect.com vijay.l@krisflexipacks.com viral.s@krisflexipacks.com joseph@pwiconnect.com
Website :	http://www.krisflexipacks.com
Location :	Owned (They have 6 to 7 Galas in same premises)
Head Office:	Plot No. A-39, Road No.11, Wagle Industrial Estate, Thane (West), Thane - 400 604, Maharashtra, India
Tel. No.:	91-22-30948000
Factory :	Located at: v Daman v Pondicherry v Himachal Pradesh
Branch Office 1 :	101, Alpha, Hiranandani Business Park, Powai, Mumbai, Maharashtra, India
Branch Office :	Also located at: v Bangalore v Tirupur v New Delhi (NCR) v Chennai v Mumbai

DIRECTORS

As on 01.09.2012

Name :

Mr. Shailesh Gulabchand Sheth

Designation :

Managing Director

Address :

1002, Tivoli, Hiranandani Garden, Powai, Mumbai – 400 076, Maharashtra, India

Date of Birth/Age :

12.01.1960

Qualification :

B.Com

Date of Appointment :

06.03.2007

PAN No.:

AAYPS5920R

DIN No.:

00206159

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	U74950MH1990PLC058775	PACKAGING WAREHOUSE LIMITED	Director	29/05/1992	29/05/1992	-	Amalgamated	NO
2	U70101MH2006PTC164840	VRS REALTORS PRIVATE LIMITED	Director	22/09/2006	22/09/2006	-	Active	NO
3	U74999MH2006PTC165113	METAL TECH PRIVATE LIMITED	Director	10/10/2006	10/10/2006	-	Active	NO
4	U45201MH2006PTC166272	PACKAGING PROPERTIES PRIVATE LIMITED	Director	18/12/2006	18/12/2006	-	Active	NO
5	U70102MH2006PTC166273	PACKAGING REALTORS PRIVATE LIMITED	Director	18/12/2006	18/12/2006	-	Active	NO
6	U25202MH2007PTC166756	PACKAGING DESTINATIONS PRIVATE LIMITED	Director	05/01/2007	05/01/2007	-	Active	NO
7	U25202MH2007PTC166757	PACKAGING FLEXI BUSINESS PRIVATE LIMITED	Director	05/01/2007	05/01/2007	-	Active	NO
8	U25209MH2007PTC168369	KRIS FLEXIPACKS PRIVATE LIMITED	Managing director	06/03/2007	06/03/2007	-	Active	NO
9	U25208MH2007PTC168522	R. S. HANGPLAST PRIVATE LIMITED	Director	09/03/2007	09/03/2007	-	Amalgamated	NO
10	U25209MH2007PTC168540	SUSMIT PACKAGING PRIVATE LIMITED	Director	09/03/2007	09/03/2007	-	Amalgamated	NO
11	U25209MH2007PTC168539	WEB PRINTS PACKAGING PRIVATE LIMITED	Director	09/03/2007	09/03/2007	-	Amalgamated	NO
12	U25209MH2007PTC168569	STICK PLAST PACKAGING PRIVATE LIMITED	Director	10/03/2007	10/03/2007	-	Amalgamated	NO
13	U25203MH2007PTC168642	JAY JAY POLYMERS PRIVATE LIMITED	Director	12/03/2007	12/03/2007	-	Amalgamated	NO
14	U74999MH2007PTC168682	KALYAN PACKAGING PRIVATE LIMITED	Director	13/03/2007	13/03/2007	-	Amalgamated	NO
15	U25209MH2007PTC168768	JOLLY POLYMERS PACKAGING PRIVATE LIMITED	Director	24/03/2007	24/03/2007	-	Amalgamated	NO
16	U25202MH1999PTC118423	MIRAAJ POLYPLAST PRIVATE LIMITED	Director	28/03/2007	28/03/2007	-	Amalgamated	NO
17	U28129MH2007PTC169583	PACKAGING BUSINESS VISION PRIVATE LIMITED	Director	03/04/2007	03/04/2007	-	Strike off	NO
18	U25199MH2009PTC191477	KRIS AUTOMATED PACKAGING SYSTEMS PRIVATE LIMITED	Director	03/04/2009	03/04/2009	-	Active	NO

Name :

Mr. Peranamallur Narayanaswamy Devrajan

Designation :

Director

Address :

A-1, Ground Floor, Nav Munjal Nagar-2, Chembur, Mumbai – 400 089, Maharashtra, India

Date of Birth/Age :

15.02.1935

Date of Appointment :

23.07.2011

DIN No.:

00003842

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	U72900MH1994PTC083007	TROPICAL TECHNOLOGIES PRIVATE LIMITED	Director	16/11/1994	16/11/1994	-	Active	NO
2	L85195AP1984PLC004507	DR. REDDY'S LABORATORIES LIMITED	Director	30/10/2000	30/10/2000	20/05/2008	Active	NO
3	L74210TN2000PLC045167	SHRIRAM EPC LIMITED	Director	11/08/2001	11/08/2001	12/09/2007	Active	NO
4	U29120TN2002PTC049213	GEOMETRIC ENGINEERING CONSTRUCTION PRIVATE LIMITED	Director	09/10/2002	09/10/2002	10/11/2007	Active	NO
5	L15421TN1960PLC004310	KOTHARI SUGARS AND CHEMICALS LIMITED	Director	24/09/2003	24/09/2003	27/04/2009	Active	NO
6	U65993MH2006PLC162533	ESSEL-CENTRUM HOLDINGS LIMITED	Director	08/07/2006	08/07/2006	-	Active	NO
7	L29221TN1956PLC000204	BEST AND CROMPTON ENGG. LIMITED	Director	22/09/2007	31/01/2007	07/01/2009	Active	NO
8	U72200TN2006PTC059964	SGT INDIA PRIVATE LIMITED	Director	19/10/2009	31/03/2008	24/02/2010	Active	NO
9	U29290MH1987PTC045499	AARVI ENCON PRIVATE LIMITED	Director	01/12/2008	01/12/2008	-	Active	NO
10	L11101TN1989PLC017347	KOTHARI PETROCHEMICALS LIMITED.	Director	18/09/2009	24/04/2009	-	Active	NO
11	U72200AP2004PTC044250	OGENE SYSTEMS INDIA PRIVATE LIMITED	Director	29/09/2009	25/06/2009	-	Active	NO
12	U24294TN1982PTC009401	TEX BIOSCIENCES PRIVATE LIMITED	Director	25/08/2011	30/09/2009	-	Active	NO
13	U24120WB2009PLC153272	MATIX FERTILISERS AND CHEMICALS LIMITED	Director	08/11/2010	16/01/2010	-	Active	NO
14	U93000DL2010NPL199615	SAHYOG FOUNDATION	Additional director	15/04/2010	15/04/2010	-	Active	NO
15	U25209MH2007PTC168369	KRIS FLEXIPACKS PRIVATE LIMITED	Director	23/07/2011	01/04/2011	-	Active	NO
16	U51109WB2007PTC114150	ARROWLINE DEALCOM PRIVATE LIMITED	Director	29/09/2012	08/11/2011	-	Active	NO

Name :

Mr. Govindaraghavan Venkatraman

Designation :

Director

Address :

Flat No.171/172, 17^th Floor, Kalpataru Residency, Sion Circle, Sion (East), Mumbai – 400 022, Maharashtra, India

Date of Birth/Age :

16.07.1945

Date of Appointment :

23.07.2011

DIN No.:

00008683

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	U27100GJ1976FLC013787	ESSAR STEEL INDIA LIMITED	Director	29/01/2007	29/10/2003	-	Active	NO
2	U72200MH1992PLC064816	ESSAR INFORMATION TECHNOLOGY LIMITED	Director	09/12/2003	09/12/2003	14/02/2012	Active	NO
3	U31101GJ1995PLC065146	BHANDER POWER LIMITED	Director	17/08/2004	17/08/2004	30/04/2009	Active	NO
4	U27100GJ2005FLC046274	ESSAR STEEL CHHATTISGARH LIMITED	Director	17/06/2005	17/06/2005	18/12/2008	Active	NO
5	U27100GJ2005PLC046272	ESSAR STEEL JHARKHAND LIMITED	Director	17/06/2005	17/06/2005	18/12/2008	Active	NO
6	U27100GJ2005FLC046273	ESSAR STEEL (HAZIRA) LIMITED	Director	17/06/2005	17/06/2005	-	Amalgamated	NO
7	U31101DL2005PLC211274	ESSAR POWER (JHARKHAND ) LIMITED	Director	19/10/2005	19/10/2005	30/04/2009	Active	NO
8	U31101DL2005PLC208862	ESSAR POWER (ORISSA) LIMITED	Director	19/08/2011	19/10/2005	-	Active	NO
9	U13100GJ2006PLC047506	ESSAR MINERAL RESOURCES LIMITED	Additional director	08/07/2010	13/01/2006	31/08/2010	Active	NO
10	U74210MH2006PLC159709	JUBILEE SHIPPING AND LOGISTICS HOLDINGS LIMITED	Director	14/02/2006	14/02/2006	29/06/2007	Active	NO
11	U27104MH2006PLC162609	ESSAR STEEL ORISSA LIMITED	Director	14/06/2006	14/06/2006	-	Amalgamated	NO
12	U25199GJ2007PLC050164	HAZIRA PIPE MILL LIMITED	Director	06/03/2007	06/03/2007	18/12/2008	Amalgamated	NO
13	U27100GJ2005FLC046055	ESSAR STEEL KARNATAKA LIMITED	Director	02/05/2007	02/05/2007	17/06/2008	Under Process of Striking off	NO
14	U74900GJ2007PLC066273	ESSAR POWER GUJARAT LIMITED	Director	11/08/2010	18/02/2008	-	Active	NO
15	U40100DL2005PLC201961	ESSAR POWER M P LIMITED	Director	29/09/2008	18/02/2008	-	Active	NO
16	U70100MH2006FLC159272	ESSAR SEZ HAZIRA LIMITED	Additional director	17/06/2008	17/06/2008	14/01/2009	Active	NO
17	U65923TN2007PLC085016	ESSAR CAPITAL LIMITED	Additional director	30/06/2012	17/06/2008	-	Active	NO
18	L65990TN2005PLC071791	ESSAR SECURITIES LIMITED	Director	14/08/2009	31/03/2009	-	Active	NO
19	U65993MH2007PLC174810	ETHL COMMUNICATIONS HOLDINGS LIMITED	Additional director	13/04/2009	13/04/2009	-	Amalgamated	NO
20	U74999TN2008PTC067735	ESSAR CAPITAL FINANCE PRIVATE LIMITED	Additional director	31/10/2009	31/10/2009	-	Active	NO
21	U51900MH2006PLC160647	THE MOBILESTORE LIMITED	Director	30/09/2010	17/05/2010	-	Active	NO
22	L65990MH1984PLC033128	FRONTIER LEASING AND FINANCE LIMITED	Director	30/09/2010	12/08/2010	-	Active	NO
23	U40300GJ2006PLC063146	ESSAR POWER HAZIRA LIMITED	Director	06/08/2011	17/08/2010	-	Active	NO
24	U74140MH2010PTC207439	PADMARAG PROJECT AND CORPORATE SERVICES PRIVATE LIMITED	Director	20/09/2010	20/09/2010	-	Active	NO
25	U13100WB2010PTC140900	GREEN VALLEY ENERGY VENTURES PRIVATE LIMITED	Director	28/12/2010	28/12/2010	10/01/2012	Active	NO
26	U11201GJ2002PLC041192	ASIA MOTORWORKS LIMITED	Additional director	28/01/2011	28/01/2011	04/05/2011	Active	NO
27	U25209MH2007PTC168369	KRIS FLEXIPACKS PRIVATE LIMITED	Director	23/07/2011	01/04/2011	-	Active	NO
28	U74999MH2011PLC217380	ESSAR SERVICES INDIA LIMITED	Director	12/05/2011	12/05/2011	21/01/2012	Active	NO
29	U99999MH1989PLC053280	ESSAR PROJECTS (INDIA) LIMITED	Director	09/09/2011	18/07/2011	-	Active	NO
30	L99999TN1984PLC075902	INDIA SECURITIES LIMITED	Additional director	09/08/2011	09/08/2011	-	Active	NO
31	U74140MH2003PTC141815	MAHATI CORPORATE SERVICES PRIVATE LIMITED	Additional director	01/02/2012	01/02/2012	-	Under liquidation	NO
32	U65921MH2008PLC182234	AMW FINANCE LIMITED	Director	08/08/2012	16/02/2012	-	Active	NO

Name :

Mr. Viresh Gulabchand Sheth

Designation :

Director

Address :

1002, Tivoli, Hiranandani Garden, Powai, Mumbai – 400 076, Maharashtra, India

Date of Birth/Age :

28.08.1964

Qualification :

B.Com

Date of Appointment :

06.03.2007

PAN No.:

AAYPS5919A

DIN No.:

00217977

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	U25202MH1999PTC118423	MIRAAJ POLYPLAST PRIVATE LIMITED	Director	18/02/1999	18/02/1999	-	Amalgamated	NO
2	U70101MH2006PTC164840	VRS REALTORS PRIVATE LIMITED	Director	22/09/2006	22/09/2006	-	Active	NO
3	U45201MH2006PTC166272	PACKAGING PROPERTIES PRIVATE LIMITED	Director	18/12/2006	18/12/2006	-	Active	NO
4	U70102MH2006PTC166273	PACKAGING REALTORS PRIVATE LIMITED	Director	18/12/2006	18/12/2006	-	Active	NO
5	U25202MH2007PTC166756	PACKAGING DESTINATIONS PRIVATE LIMITED	Director	05/01/2007	05/01/2007	-	Active	NO
6	U25202MH2007PTC166757	PACKAGING FLEXI BUSINESS PRIVATE LIMITED	Director	05/01/2007	05/01/2007	-	Active	NO
7	U25209MH2007PTC168369	KRIS FLEXIPACKS PRIVATE LIMITED	Director	06/03/2007	06/03/2007	-	Active	NO
8	U25208MH2007PTC168522	R. S. HANGPLAST PRIVATE LIMITED	Director	09/03/2007	09/03/2007	-	Amalgamated	NO
9	U25209MH2007PTC168540	SUSMIT PACKAGING PRIVATE LIMITED	Director	09/03/2007	09/03/2007	-	Amalgamated	NO
10	U25209MH2007PTC168539	WEB PRINTS PACKAGING PRIVATE LIMITED	Director	09/03/2007	09/03/2007	-	Amalgamated	NO
11	U25209MH2007PTC168569	STICK PLAST PACKAGING PRIVATE LIMITED	Director	10/03/2007	10/03/2007	-	Amalgamated	NO
12	U25203MH2007PTC168642	JAY JAY POLYMERS PRIVATE LIMITED	Director	12/03/2007	12/03/2007	-	Amalgamated	NO
13	U74999MH2007PTC168682	KALYAN PACKAGING PRIVATE LIMITED	Director	13/03/2007	13/03/2007	-	Amalgamated	NO
14	U25209MH2007PTC168768	JOLLY POLYMERS PACKAGING PRIVATE LIMITED	Director	24/03/2007	24/03/2007	-	Amalgamated	NO
15	U74950MH1990PLC058775	PACKAGING WAREHOUSE LIMITED	Director	28/03/2007	28/03/2007	-	Amalgamated	NO
16	U28129MH2007PTC169583	PACKAGING BUSINESS VISION PRIVATE LIMITED	Director	03/04/2007	03/04/2007	-	Strike off	NO
17	U25199MH2009PTC191477	KRIS AUTOMATED PACKAGING SYSTEMS PRIVATE LIMITED	Director	03/04/2009	03/04/2009	-	Active	NO

Name :

Mr. Rajesh Gulabchand Sheth

Designation :

Director

Address :

1002, Tivoli, Hiranandani Garden, Powai, Mumbai – 400 076, Maharashtra, India

Date of Birth/Age :

23.10.1961

Qualification :

B.Com

Date of Appointment :

06.03.2007

PAN No.:

AAZPS8968A

DIN No.:

00223733

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	U70101MH2006PTC164840	VRS REALTORS PRIVATE LIMITED	Director	22/09/2006	22/09/2006	-	Active	NO
2	U45201MH2006PTC166272	PACKAGING PROPERTIES PRIVATE LIMITED	Director	18/12/2006	18/12/2006	-	Active	NO
3	U70102MH2006PTC166273	PACKAGING REALTORS PRIVATE LIMITED	Director	18/12/2006	18/12/2006	-	Active	NO
4	U25202MH2007PTC166756	PACKAGING DESTINATIONS PRIVATE LIMITED	Director	05/01/2007	05/01/2007	-	Active	NO
5	U25202MH2007PTC166757	PACKAGING FLEXI BUSINESS PRIVATE LIMITED	Director	05/01/2007	05/01/2007	-	Active	NO
6	U25209MH2007PTC168369	KRIS FLEXIPACKS PRIVATE LIMITED	Director	06/03/2007	06/03/2007	-	Active	NO
7	U25208MH2007PTC168522	R. S. HANGPLAST PRIVATE LIMITED	Director	09/03/2007	09/03/2007	-	Amalgamated	NO
8	U25209MH2007PTC168540	SUSMIT PACKAGING PRIVATE LIMITED	Director	09/03/2007	09/03/2007	-	Amalgamated	NO
9	U25209MH2007PTC168539	WEB PRINTS PACKAGING PRIVATE LIMITED	Director	09/03/2007	09/03/2007	-	Amalgamated	NO
10	U25209MH2007PTC168569	STICK PLAST PACKAGING PRIVATE LIMITED	Director	10/03/2007	10/03/2007	-	Amalgamated	NO
11	U25203MH2007PTC168642	JAY JAY POLYMERS PRIVATE LIMITED	Director	12/03/2007	12/03/2007	-	Amalgamated	NO
12	U74999MH2007PTC168682	KALYAN PACKAGING PRIVATE LIMITED	Director	13/03/2007	13/03/2007	-	Amalgamated	NO
13	U25209MH2007PTC168768	JOLLY POLYMERS PACKAGING PRIVATE LIMITED	Director	24/03/2007	24/03/2007	-	Amalgamated	NO
14	U25202MH1999PTC118423	MIRAAJ POLYPLAST PRIVATE LIMITED	Director	28/03/2007	28/03/2007	-	Amalgamated	NO
15	U74950MH1990PLC058775	PACKAGING WAREHOUSE LIMITED	Director	28/03/2007	28/03/2007	-	Amalgamated	NO
16	U28129MH2007PTC169583	PACKAGING BUSINESS VISION PRIVATE LIMITED	Director	03/04/2007	03/04/2007	-	Strike off	NO

Name :

Mr. Ravi Chaturvedi

Designation :

Director

Address :

750, Ocean Royale Way, 702, Juno Beach, Florida-33408, USA

Date of Birth/Age :

14.11.1959

Date of Appointment :

23.07.2011

DIN No.:

02787181

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	U74999DL1996PTC079004	IDISCOVERI EDUCATION PRIVATE LIMITED	Director	28/12/2009	22/10/2009	-	Active	NO
2	U25209MH2007PTC168369	KRIS FLEXIPACKS PRIVATE LIMITED	Director	23/07/2011	01/04/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 01.09.2012

Names of Shareholders	No. of Shares
Shailesh Gulabchand Sheth	2700144
Rajesh Gulabchand Sheth	1349972
Viresh Gulabchand Sheth	1349972
Packaging Destinations Private Limited, India	1599970
Packaging Flexi Business Private Limited, India	699988
Packaging Properties Private Limited, India	699988
Varsha Shailesh Sheth	799982
Aarti Rajesh Sheth	399992
Tina Viresh Sheth	399992
Total	10000000

As on 01.09.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	30.00
Directors or relatives of directors	70.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of high quality Packaging Products.

Products :

v Shrink Sleeves

v Garment Poly Bags

v Industrial Poly Bags

v Retail Bags

v Plastic Hangers

v Wooden Hangers

v Metal Hangers

v Laminates

v LD Shrink

v Wrap-around Labels

v Combi Pack

v Shrink Tunnel

v Moulded Products

v Soft and Rigid PP/PVC Boxes

Item Code No. (ITC Code)	3923.29.90
Product Description	Polybags
Item Code No. (ITC Code)	3923.90.90
Product Description	Sleeved Cups
Item Code No. (ITC Code)	3920.10.19
Product Description	PVC Shrink Labels

GENERAL INFORMATION

No. of Employees :

500 (Approximately)

Bankers :

v The Saraswat Co-operative Bank Limited, Thane Nagar Vachnalay Mandir Building, Tembhinaka, Thane – 400 602, Maharashtra, India

v The Saraswat Co-Operative Bank Limited, Mulund Branch, Mulund, Mumbai – 400 080, Maharashtra, India

v IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai – 400 005, Maharashtra, India

v The Saraswat Co-Operative Bank Limited, SME Vikhroli Branch, Prabhat Bhavan, LBS Marg, Vikhroli (West), Mumbai – 400 079, Maharashtra, India

v State Bank of India, Mulund, Mumbai, Maharashtra, India

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)
Long Term Borrowings
Rupee term loans from banks (Hypothecation of movable and immovable and secured by personal guarantee of directors)	115.499
Short Term Borrowings
Loans and advances from related parties (Hypothecation of movable and immovable and secured by personal guarantee of directors)	660.077
Total	775.576

Unsecured Loan	31.03.2012 (Rs. in Millions)
Long Term Borrowings
Fully convertible debentures others	50.000
Short Term Borrowings
Loans repayable on demand	0.051
Total	50.051

Secured Loan	31.03.2011 (Rs. in Millions)
Rupee term loans financial institutions	285.253
Working capital loans banks	247.854
Other debts	276.482
Total	809.589

Unsecured Loan	31.03.2011 (Rs. in Millions)
Fully Convertible Debentures	50.000
Loans directors	17.189
Total	67.189

Banking Relations :	--
Auditors :
Name :	K.A. Gandhi and Associates Chartered Accountant
Address :	14-B, Vaibhav, 1^st Floor, Corner of M.G. Road and S.L. Road, Mulund (West), Mumbai – 400 080, Maharashtra, India
Tel. No.:	91-22-25675205/ 25686061
Fax No.:	91-22-25686061
Income-tax PAN of auditor or auditor's firm :	AAJFK1030F

CAPITAL STRUCTURE

As on 01.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions
5000000	Preference Shares	Rs.10/- each	Rs.50.000 Millions
	Total		Rs.150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 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		100.000	100.000	100.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		610.149	575.875	452.602
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		710.149	675.875	552.602
LOAN FUNDS
1] Secured Loans		775.576	809.589	775.011
2] Unsecured Loans		50.051	67.189	80.130
TOTAL BORROWING		825.627	876.778	855.141
DEFERRED TAX LIABILITIES		33.201	24.980	17.623
TOTAL		1568.977	1577.633	1425.366
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		675.984	686.741	670.553
Capital work-in-progress		0.000	6.385	6.435
INVESTMENT		12.474	65.440	69.082
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	386.440	309.877	249.068
	Sundry Debtors	665.691	567.836	536.667
	Cash & Bank Balances	16.826	23.819	14.761
	Other Current Assets	54.795	0.000	0.000
	Loans & Advances	168.684	102.283	86.576
Total Current Assets		1292.436	1003.815	887.072
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	217.588	0.000	0.000
	Other Current Liabilities	188.778	181.790	204.964
	Provisions	5.551	2.958	2.812
Total Current Liabilities		411.917	184.748	207.776
Net Current Assets		880.519	819.067	679.296
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1568.977	1577.633	1425.366

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Net Turnover	2401.500	2043.182
		Other Income		6.552
		Accretion/ Decretion in stock		6.066
		TOTAL (A)	2401.500	2055.800
Less	EXPENSES
		Material	2095.900	1458.873
		Manufacturing Expenses		64.574
		Staff Cost		83.295
		Other Expenses		89.348
		Selling Expenses		69.869
		TOTAL (B)	2095.900	1765.959
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		305.600	289.841
Less	FINANCIAL EXPENSES (D)		73.600	91.654
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		232.000	198.187
Less/ Add	DEPRECIATION/ AMORTISATION (F)		56.100	50.990
	PROFIT BEFORE TAX (E-F) (G)		175.900	147.197
Less	TAX (H)		41.000	27.768
	PROFIT AFTER TAX (G-H) (I)		134.900	119.429
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		300.400	180.944
Less	APPROPRIATIONS
		Dividend on Equity Shares	10.000	0.000
		Corporate Tax on Dividend	1.700	0.000
	BALANCE CARRIED TO THE B/S		423.600	300.373
	EARNINGS IN FOREIGN CURRENCY		71.641	60.412
	IMPORTS
		Raw Materials	NA	378.199
		Capital Goods	NA	14.101
	TOTAL IMPORTS		NA	392.300
	Earnings Per Share (Rs.)
	- Basic		13.49	11.94
	- Diluted		8.99	7.96

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	5.62	5.81
Net Profit Margin (PBT/Sales)	(%)	NA	NA	7.20
Return on Total Assets (PBT/Total Assets}	(%)	NA	10.40	9.45
Return on Investment (ROI) (PBT/Networth)		NA	0.26	0.27
Debt Equity Ratio (Total Liability/Networth)		1.74	1.57	1.92
Current Ratio (Current Asset/Current Liability)		3.14	5.43	4.27

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	No
10) Designation of contact person	No
11) Turnover of firm for last two years	Yes
12) Profitability for last two 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	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	Yes
33) Voter ID No of Proprietor/Partner/Director, if available	No
34) External Agency Rating, if available	Yes

CORPORATE INFORMATION:

The Company is a private company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The company is engaged in the manufacturing and selling a reputed brand of high quality of packaging products like shrink sleeves, laminates, Polly Rolls, garment bags, pick up bags and digital printed products. It caters to both domestic and international markets.

Bankers Charges Report as per Registry

Corporate identity number of the company	U25209MH2007PTC168369
Name of the company	KRIS FLEXIPACKS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	65, Shanti Industrial Estate, S.N. Road, Mulund (West), Mumbai – 400 080, Maharashtra, India E-Mail: kris.legal@krisflexipacks.com
This form is for	Creation of charge
Type of charge	Movable Property (not being pledge)
Particular of charge holder	The Saraswat Co-Operative Bank Limited, SME Vikhroli Branch, Prabhat Bhavan, LBS Marg, Vikhroli (West), Mumbai – 400 079, Maharashtra, India ma_kelwalkar@saraswatbank.com
Nature of description of the instrument creating or modifying the charge	Agreement of Hypothecation of Movable Property
Date of instrument Creating the charge	22.03.2012
Amount secured by the charge	Rs.30.000 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest 12.25% p.a. or at such rate as maybe determined by the bank from time to time Terms of Repayment On demand or by 22.03.2017 if the same is not demanded earlier Margin 20% Extent and Operation of the charge This is term loan facility
Short particulars of the property charged	Hypothecation of Machinery tangible movable property (both present and future) belonging to the borrower and lying and being at borrower place of business at 64-65, Shanti Industrial Estate, S.N. Road, Mulund (West), Mumbai – 400 080 or wherever else the same maybe determined by the bank from time to time.

FIXED ASSETS:

Tangible Assets

v Freehold Land

v Leasehold Land

v Buildings

v Factory Equipments

v Plant and Machinery

v Office Equipments

v Vehicles (including Motor Car)

v Furniture and Fitting

v Computer

v Electrical Fittings

v Dies and Mould

Intangible Assets

v Software–ERP

v Trade Mark

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.54.83
UK Pound	1	Rs.89.23
Euro	1	Rs.72.48

INFORMATION DETAILS

Report Prepared by :

SMN

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	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--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		49

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.