MIRA INFORM REPORT

Report Date :

04.06.2013

IDENTIFICATION DETAILS

Name :	AURAA ADHESIVE TAPES PRIVATE LIMITED
Registered Office :	44, D’Souza Colony, College Road, Nashik - 422005, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	16.11.2009
Com. Reg. No.:	11-197080
Capital Investment / Paid-up Capital :	Rs. 0.591 Million
CIN No.: [Company Identification No.]	U25200MH2009PTC197080
TAN No.: [Tax Deduction & Collection Account No.]	NSKA05403G
PAN No.: [Permanent Account No.]	AAICA0547P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Adhesive Tapes, Self Adhesive Tapes, Industrial Tapes etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 7300
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a company having a moderate track record. There appears huge external borrowings and extremely low profit margin during 2012. Trade relations are reported as fair. Business is active. Payments are reported as slow but correct. The company can be considered for business dealings with some caution.

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

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 :	44, D’Souza Colony, College Road, Nashik - 422005, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	brc96@yahoo.co.in nileshgurnani@gmail.com auraatapes@gmail.com
Administrative Office :	1, Ganesh Glory, Nakshatra Colony, Near Akashwani Tower, Gangapur Road, Nashik-422005, Maharashtra, India
Tel. No.:	91-253-2232802
Fax No.:	91-253-2315801

DIRECTORS

AS ON 31.03.2011

Name :

Mr. Haresh Choitram Gurnani

Designation :

Director

Address :

Plot No. 44, Disuza Colony, College Road, Nashik – 422005, Maharashtra, India

Date of Birth/Age :

12.10.1954

Date of Appointment :

16.11.2009

DIN No.:

01516478

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	Company/ LLP Status	Defaulting status
1	U74940MH2004PTC148971	SK RAINBO COLOR LAB PRIVATE LIMITED	Director	05/10/2004	05/10/2004	Active	NO
2	U25200MH2009PTC197080	AURAA ADHESIVE TAPES PRIVATE LIMITED	Director	16/11/2009	16/11/2009	Active	NO

Name :

Mr. Nilesh Haresh Gurnani

Designation :

Director

Address :

Nilesh, Plot No. 44/1, D’souza Colony, College Road, Nashik – 422005, Maharashtra, India

Date of Birth/Age :

09.08.1981

Date of Appointment :

16.11.2009

DIN No.:

02107702

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	U74999MH2008PTC184147	AURAA WAREHOUSING PRIVATE LIMITED	Director	01/07/2008	01/07/2008	20/03/2010	Active	YES
2	U25200MH2009PTC197080	AURAA ADHESIVE TAPES PRIVATE LIMITED	Director	16/11/2009	16/11/2009	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2012

Names of Shareholders	No. of Shares	Percentage of Holding
Haresh Gurnani	23290	39.41
Nilesh Gurnani	26310	44.52
Nisha Gurnani	9500	16.07
Total	59100	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Adhesive Tapes, Self Adhesive Tapes, Industrial Tapes etc.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Ø City Union Bank Limited, #201, Ground Floor, Patel Retreat, College Road, Nashik - 422005, Maharashtra, India

Ø Central Bank of India

Facilities :

Secured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Term Loan from Banks
City Union Bank Car Loan	0.741	0.000
Bank OD	(0.319)	0.245
Foreign Currency Loan	5.515	1.119
City Union Bank Car Loan	0.141	0.000
Advance from Party	0.000	0.707
Total	6.078	2.071

Banking Relations :	--
Auditors :
Name :	S R Rahalkar and Associates Chartered Accountants
Address :	667, Telli Lane Raviwar Peth, Nashik – 422001, Maharashtra, India
Tel. No.:	91-253-2575093/ 2581597
Fax No.:	91-253-2581597
E-Mail :	srr.assoc@gmail.com
Income-tax PAN of auditor or auditor's firm :	AAOFS9465K

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs. 10/- each	Rs. 1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
59100	Equity Shares	Rs. 10/- each	Rs. 0.591 Million

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		0.591	0.591	0.100
2] Share Application Money		0.000	0.000	0.338
3] Reserves & Surplus		1.231	0.778	0.000
4] (Accumulated Losses)		0.000	0.000	(0.067)
NETWORTH		1.822	1.369	0.371
LOAN FUNDS
1] Secured Loans		6.078	2.071	0.000
2] Unsecured Loans		1.105	0.000	0.000
TOTAL BORROWING		7.183	2.071	0.000
DEFERRED TAX LIABILITIES		0.026	0.012	0.000
TOTAL		9.031	3.452	0.371
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.768	0.601	0.084
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	4.859	5.158	0.287
	Sundry Debtors	15.945	5.800	0.000
	Cash & Bank Balances	1.373	0.508	0.315
	Other Current Assets	0.329	0.125	0.000
	Loans & Advances	0.076	0.118	0.000
Total Current Assets		22.582	11.709	0.602
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	14.588	8.649	0.337
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	0.731	0.209	0.008
Total Current Liabilities		15.319	8.858	0.345
Net Current Assets		7.263	2.851	0.257
MISCELLANEOUS EXPENSES		0.000	0.000	0.030
TOTAL		9.031	3.452	0.371

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from operations	52.065	24.665	0.000
		Other Income	0.101	0.043	0.000
		TOTAL (A)	52.166	24.708	0.000
Less	EXPENSES
		Purchase of stock-in-trade	46.217	27.673
		Changes in inventories of finished goods, work in progress and stock-in-trade	0.299	(4.872)
		Employee benefit Expenses	1.175	0.388
		Other Expenses	3.053	1.040
		TOTAL (B)	50.744	24.229	0.067
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1.422	0.479	(0.067)
Less	FINANCIAL EXPENSES (D)		0.623	0.118	0.000
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.799	0.361	(0.067)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.140	0.049	0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		0.659	0.312	(0.067)
Less	TAX (H)		0.206	0.079	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		0.453	0.233	(0.067)
	Earnings/ (Loss) Per Share (Rs.)		7.66	3.94	(6.70)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.87	0.94	0.00
Net Profit Margin (PBT/Sales)	(%)	1.27	1.26	0.00
Return on Total Assets (PBT/Total Assets}	(%)	2.71	2.53	(9.77)
Return on Investment (ROI) (PBT/Networth)		0.36	0.23	(0.18)
Debt Equity Ratio (Total Debt/Networth)		3.94	1.51	0.00
Current Ratio (Current Asset/Current Liability)		1.47	1.32	1.74

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	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

UNSECURED LOANS

Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Loans from Mr. Nilesh Gurnani	1.105	0.000
Total	1.105	0.000

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U25200MH2009PTC197080
Name of the company	AURAA ADHESIVE TAPES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	44, D’Souza Colony, College Road, Nashik - 422005, Maharashtra, India Email: auraatapes@gmail.com
This form is for	Modification of charge
Charge identification number of the modified	10254969
Type of charge	Immovable property Any interest in immovable property
Particular of charge holder	City Union Bank Limited, #201, Ground Floor, Patel Retreat, College Road, Nashik - 422005, Maharashtra, India Email: cub182@cityunionbank.com
Nature of description of the instrument creating or modifying the charge	Supplement agreement for loan cum hypothecation for car - Hyundai Verna
Date of instrument Creating the charge	07.03.2012
Amount secured by the charge	Rs.10.875 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest On Car Loan - 12.75% Terms of Repayment EMI - 19798 - 60 Months Margin As per the Agreement Extent and Operation of the charge Charge shall extent till full satisfaction of Loan
Short particulars of the property charged	Hyundai Verna Car - SX 1.6 CRDI CH No.: 054430 Engine No.: 073757
Particulars of the present modification	Increase in Credit Limit to Rs.10.875 Millions pursuant to Car Loan

FIXED ASSETS:

Ø Computer

Ø Air Conditioner

Ø Electrical Installation

Ø Furniture

Ø Mobile

Ø Vehicles

Ø Office 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. 56.57
UK Pound	1	Rs. 86.15
Euro	1	Rs. 73.64

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
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	4
--CREDIT LINES	1~10	3
--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
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		28

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.