1. Summary Information

		Country	India
Company Name	TAURUS PACKAGING PRIVATE LIMITED	Principal Name 1	Mr. Chetan Jain
Status	Moderate	Principal Name 2	Mr. Nisha Jain
		Registration #	024164
Street Address	56A / 13 Rama Road, Industrial Area, New Delhi 110015
Established Date	08.05.1986	SIC Code	--
Telephone#	91-11-45063741 / 42	Business Style 1	Manufacturer
Fax #	--	Business Style 2	Exporter
Homepage	www.tauruspackaging.com	Product Name 1	Flexible Packaging Laminates
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.9,319,000/-	Product Name 3	--
Shareholders	Directors or relatives of directors 100.00%	Banking	State Bank of India
Public Limited Corp.	--	Business Period	27 Years
IPO	--	International Ins.	--
Public Enterprise	--	Rating	B (30)
Related Company
Relation	Country	Company Name	CEO
Associates/Subsidiaries	--	Taurus Thermoplastics Private Limited	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2012		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	75,165,000	Current Liabilities	52,700,000
Inventories	59,275,000	Long-term Liabilities	83,501,000
Fixed Assets	52,514,000	Other Liabilities	2,569,000
Deferred Assets	0,000	Total Liabilities	138,770,000
Invest& other Assets	0.000	Retained Earnings	22,365,000
		Net Worth	48,184,000
Total Assets	186,954,000	Total Liab. & Equity	186,954,000
Total Assets (Previous Year)	134,578,000
P/L Statement as of	31.03.2012		(Unit: Indian Rs.)
Sales	180,484,000	Net Profit	1,554,000
Sales(Previous yr)	153,848,000	Net Profit(Prev.yr)	2,868,000

MIRA INFORM REPORT

Report Date :

28.03.2013

IDENTIFICATION DETAILS

Name :	TAURUS PACKAGING PRIVATE LIMITED
Registered Office :	56A / 13 Rama Road, Industrial Area, New Delhi-110015
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	08.05.1986
Com. Reg. No.:	55-024164
Capital Investment / Paid-up Capital :	Rs.9.319 Millions
CIN No.: [Company Identification No.]	U74899DL1986PTC024164
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Flexible Packaging Laminates.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (30)

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 but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. There appears huge external borrowings recorded by the company which seems to be increasing over years. However, trade relations are reported as fair. Business is active. Payments are reported to be 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

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	CRISIL
Rating	BB- (Term Loan)
Rating Explanation	Moderate risk of default.
Date	January 2013

Rating Agency Name	CRISIL
Rating	A4+ (Letter of Credit)
Rating Explanation	Minimal degree of safety it carry higher credit risk.
Date	January 2013

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 :	56A / 13 Rama Road, Industrial Area, New Delhi-110015, India
Tel. No.:	91-11-45063741/42
Mobile No.:	91-9310616040 [Mr. Chetan Jain]
Fax No.:	91-45063741/42
E-Mail :	atulfca@yahoo.com tppl@tauruspackaging.com
Website:	www.tauruspackaging.com
Factory :	53, Toy City, Udyog Kendra Greater Noida-201306, Uttar Pradesh, India
Tel. No.:	91-120-2353540
Fax No.:	91-120-2353541

DIRECTORS

As on: 29.09.2012

Name :

Mr. Rajesh Kumar Jain

Designation :

Director

Address :

56 A, Rama Road, Industrial Area, New Delhi – 110015, India

Date of Birth/Age :

18.01.1957

Date of Appointment :

30.09.2011

DIN No.:

00367178

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	U74899DL1986PTC024164	TAURUS PACKAGING PRIVATE LIMITED	Director	30/09/2011	29/01/1996	-	Active	NO
2	U25209DL2010PTC211063	TAURUS THERMOPLASTICS PRIVATE LIMITED	Director	03/12/2010	03/12/2010	-	Active	NO

Name :

Mrs. Nisha Jain

Designation :

Director

Address :

56 A, Rama Road, Industrial Area, New Delhi – 110015, India

Date of Birth/Age :

20.09.1955

Date of Appointment :

30.09.2011

DIN No.:

00367253

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	U74899DL1986PTC024164	TAURUS PACKAGING PRIVATE LIMITED	Director	30/09/2011	31/12/1999	-	Active	NO
2	U25209DL2010PTC211063	TAURUS THERMOPLASTICS PRIVATE LIMITED	Director	03/12/2010	03/12/2010	-	Active	NO

Name :

Mr. Chetan Jain

Designation :

Director

Address :

Plot No. 53, Toy City, Udyog Kendra, Greater Noida – 201306, Uttar predesh

Date of Birth/Age :

22.08.1983

Date of Appointment :

30.09.2011

DIN No.:

03292881

MAJOR SHAREHOLDERS

As on: 29.09.2012

Names of Shareholders	No. of Shares
Chetan Jain	65000
Manu Jain	21000
M L Jain	229110
Nisha Jain	208500
Rajesh Kumar Jain	243650
Rajesh Kumar Jain	164700
Total	931960

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Flexible Packaging Laminates.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• State Bank of India, B-4/7, Prince Road, Model Town – I, New Delhi-110009, India
• Punjab National Bank, Naraina Vihar, New Delhi-110028, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
LONG TERM BORROWINGS
Term Loans from Banks (Secured against Mortgage of Factory Building, hypothecation of fixed assets and personal property of Directors)	18.840	53.765
Term Loans from others (Secured against hypothecation of fixed assets)	0.182
SHORT TERM BORROWINGS
payable on demand - Cash credit (Secured against pledge of stocks, Book debts, Receivables, Mortgage of Factory Building and personal property of Directors)	53.507
Total	72.529	53.765

Banking Relations :	--
Auditors :
Name :	Kaj and Associates Chartered Accountant
Address :	84 Pocket 1, Jasola, New Delhi-110025, India
Tel. No.:	91-11-46577393
E-Mail :	kajindia@yahoo.co.in
PAN No.:	AAAFK3337N
Associates/Subsidiaries :	Taurus Thermoplastics Private Limited

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
931960	Equity Shares	Rs.10/- each	Rs.9.319 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		9.319	9.319	9.319
2] Share Application Money		16.500	10.800	6.550
3] Reserves & Surplus		22.365	18.995	16.127
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		48.184	39.114	31.996
LOAN FUNDS
1] Secured Loans		72.529	53.765	72.948
2] Unsecured Loans		10.972	5.741	3.303
TOTAL BORROWING		83.501	59.506	76.251
DEFERRED TAX LIABILITIES		1.015	0.987	0.957
TOTAL		132.700	99.607	109.204
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		52.514	52.564	57.020
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	59.275	39.685	25.920
	Sundry Debtors	53.925	30.246	33.430
	Cash & Bank Balances	3.206	1.961	2.030
	Other Current Assets	11.289	0.000	0.000
	Loans & Advances	6.745	10.104	7.540
Total Current Assets		134.440	81.996	68.920
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	51.926	32.778	15.373
	Other Current Liabilities	0.774	0.873	0.315
	Provisions	1.554	1.320	1.074
Total Current Liabilities		54.254	34.971	16.762
Net Current Assets		80.186	47.025	52.158
MISCELLANEOUS EXPENSES		0.000	0.018	0.026
TOTAL		132.700	99.607	109.204

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	180.484	153.848	173.241
		Other Income	23.923	5.756	NA
		TOTAL	204.407	159.604	NA
Less	EXPENSES
		Office Expenses	199.442	155.386	NA
		Administrative Expenses
		Advertising Expenses
		TOTAL	199.442	155.386	NA
	PROFIT BEFORE TAX		4.965	4.218	4.184
Less	TAX		3.411	1.350	1.355
	PROFIT AFTER TAX		1.554	2.868	2.829
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2.170	1.802	1.473
Less	APPROPRIATIONS
		Transfer to General Reserve	2.500	2.500	2.500
	BALANCE CARRIED TO THE B/S		3.053	2.170	1.802
	Earnings Per Share (Rs.)		1.67	3.07	3.04

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	0.76	1.80	NA
Net Profit Margin (PBT/Sales)	(%)	2.75	2.74	2.42
Return on Total Assets (PBT/Total Assets}	(%)	2.66	3.13	3.32
Return on Investment (ROI) (PBT/Networth)		0.10	0.11	0.13
Debt Equity Ratio (Total Debt /Networth)		1.73	1.52	2.38
Current Ratio (Current Asset/Current Liability)		2.48	2.34	4.11

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	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	Yes

NOTE:

The registered office of the company has been shifted from A-6, C Block centre, Maraina Vihar, New Delhi – 110028, India to present address w.e.f. 01.09.2007

FINANCIAL RESULTS:

The working of the Company has resulted in a Profit before Tax of Rs. 4.965 Millions. After providing for Income Tax of Rs.1.554 Millions for current year and deferred tax liability of Rs. 0.027 Millions transferring Rs. 2.500 Millions to General Reserve and adding thereto brought forward balance in Profit and Loss Account of Rs. 2.170 Millions a total surplus of Rs. 3.053 Millions has been carried forward.

UNSECURED LOAN:

Particulars	As on 31.03.2012	As on 31.03.2011
LONG TERM BORROWINGS
Other Loans and advances	4.044	5.741
Other Loans and advances	1.989
SHORT TERM BORROWINGS
Other Loans and advances	0.180
Other Loans and advances	4.759
Total	10.972	5.741

BANKERS CHARGES REPORT AS PER REGISTRY:

Corporate identity number of the company	U74899DL1986PTC024164
Name of the company	TAURUS PACKAGING PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	56A, Rama Road, Industrial Area, New Delhi – 110015, India atulfca@yahoo.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10315525
Type of charge	Immovable property Any interest in immovable property Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	State Bank of India, B-4/7, Prince Road, Model Town-1, Delhi – 110009, India mohit.garg1@sbi.co.in
Nature of instrument creating charge	SME-4 (Supplemental agreement of loan-cum-hypothecation) SME-3 (Guarantee Agreement) SME-1 (Letter of arrangement)
Date of instrument Creating the charge	10.12.2012
Amount secured by the charge	Rs.98.300 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Working Capital- 14.25% (4.50% above the base rate of 9.75%) Term Loan- 14.35% (4.60% above the base rate of 9.75%) Terms of Repayment FBWC - Repayable on demand subject to annual review/renewal. TL- As per repayment schedule. Margin Raw material, Semi finished & finished goods-25% Domestic Receivables-40% NFBLC-15% Extent and Operation of the charge All assets, movable or immovable, Charged to Bank. i.e all present and future fixed assets, all present and future current assets including Raw material, stock, book debts and receivables.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	All assets, movable or immovable, Charged to Bank. i.e all present and future fixed assets, all present and future current assets including Raw material, stock, book debts and receivables. Collateral: (1) EM of Land & Building at Plot no. 53, Toy City, Greater Noida, U.P. (2) EM of Commercial Land & Building bearing no.56, Nazafgarh Road, Industrial Area, New Delhi-110015
Date of instrument modifying the charge	14.05.2012
Particulars of the present modification	Additional funds are sanctioned to the company by the bank namely State Bank of India, Consequently, the credit facilities from the bank enhanced from Rs. 88.400 Millions to Rs. 98.3000 Millions.

FIXED ASSETS:

• Computers
• Factory Building
• Furniture and Fixtures
• Leasehold Land
• Plant and Machinery
• Scooters
• Commercial vehicle

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.54.27
UK Pound	1	Rs.82.49
Euro	1	Rs.69.88

INFORMATION DETAILS

Report Prepared by :

RAJ

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	5
--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
--DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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.