MIRA INFORM REPORT

Report Date :

07.10.2013

IDENTIFICATION DETAILS

Name :	CARRY WELL PACKAGING PRIVATE LIMITED
Registered Office :	C-1/96, Pushpanjali, Vikas Marg, Delhi – 110 092
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	13.02.2012
Com. Reg. No.:	55-231426
Capital Investment / Paid-up Capital :	Rs.1.950 Millions
CIN No.: [Company Identification No.]	U21014DL2012PTC231426
TAN No.: [Tax Deduction & Collection Account No.]	DELC12671B
PAN No.:	AAECC7296D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Paper Bags
No. of Employees :	40 (Approximately)

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 61000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is an established company having a moderate track record. Ms. Ritika (Director) provided us the General Information. However, trade relations are reported to be improving. Business is active. Payments are reported to be unknown. 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

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.

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Ms. Ritika
Designation :	Director
Contact No.:	91-9999937608
Date :	27.09.2013

LOCATIONS

Registered Office :	C-1/96, Pushpanjali, Vikas Marg, Delhi – 110 092, India
Tel. No.:	Not Available
Mobile No.:	91-9999937608 (Ms. Ritika)
Fax No.:	Not Available
E-Mail :	Screw.taxes@yahoo.com ritika@carrywellpackaging.com
Website :	www.carrywellpackaging.com
Head Office :	476, Patpar Ganj Industrial Area, Delhi – 110 092, India

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Rakesh Bansal

Designation :

Director

Address :

C-1/96, Pushpanjali, Vikas Marg, Delhi – 110 092, India

Date of Birth/Age :

20.08.1958

Date of Appointment :

13.02.2012

DIN No.:

00009463

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	U25202DL1996PLC081036	IMAGINATIVE FLEXIPACKS LIMITED	Director	08-08-96	08-08-96	Active	NO
2	U55101DL2008PTC174174	SSR RESTAURANTS PRIVATE LIMITED	Additional director	17-01-11	17-01-11	Strike off	NO
3	U21014DL2012PTC231426	CARRY WELL PACKAGING PRIVATE LIMITED	Director	13-02-12	13-02-12	Active	NO

Name :

Ms. Sangeeta Bansal

Designation :

Director

Address :

C-1/96, Pushpanjali, Vikas Marg, Delhi – 110 092, India

Date of Birth/Age :

09.05.1962

Date of Appointment :

13.02.2012

DIN No.:

00009426

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	U25202DL1996PLC081036	IMAGINATIVE FLEXIPACKS LIMITED	Director	08-08-96	08-08-96	Active	NO
2	U21014DL2012PTC231426	CARRY WELL PACKAGING PRIVATE LIMITED	Director	13-02-12	13-02-12	Active	NO

Name :

Mr. Amitanshu Agarwal

Designation :

Director

Address :

72, Sahukara, Pilibhit – 262 001, Uttar Pradesh, India

Date of Birth/Age :

02.02.1985

Date of Appointment :

13.02.2012

DIN No.:

05171495

Name :

Mr. Ashwani Kumar Agarwal

Designation :

Director

Address :

72, Sahukara, Pilibhit – 262 001, Uttar Pradesh, India

Date of Birth/Age :

03.04.1963

Date of Appointment :

13.02.2012

DIN No.:

05170386

Name :

Mr. Shravan Kumar Agarwal

Designation :

Director

Address :

70, Sahukara, Pilibhit – 262 001, Uttar Pradesh, India

Date of Appointment :

13.02.2012

DIN No.:

05170385

Name :

Ms. Ritika Bansal

Designation :

Director

Address :

C-1/96, Pushpanjali, Vikas Marg, Delhi – 110 092, India

Date of Birth/Age :

24.07.1985

Date of Appointment :

13.02.2012

DIN No.:

05171496

MAJOR SHAREHOLDERS

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Sangeeta Bansal	25000
Rakesh Bansal	25000
Shravan Kumar Agarwal	15000
Ashwani Kumar Agarwal	15000
Amitanshu Agarwal	10000
Ritika Bansal	10000
Rational Steels and Alloys Private Limited, India	10000
Artha Software Private Limited, India	10000
Innovist India Private Limited, India	10000
Maggot Impex Private Limited, India	10000
Garnet trextile Private Limited, India	5000
Coronet Telecom Private Limited, India	10000
Zesty Constructions Private Limited, India	10000
Orator Marketing Private Limited, India	10000
Om Jai Jagdish Infrastructure Private Limited, India	10000
Oxygen Projects Private Limited, India	10000
Total	195000

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2012

Category	Percentage
Bodies corporate	48.72
Directors or relatives of Directors	51.28
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Paper Bags
Products :	Paper Bag Types · Horizontal · Vertical · Square Types of Handle · Twisted Paper Rope · Flat Paper Handle · Die Cut Handle · Rope Handle with Rivets · Rope Handle without Rivets · Ribbon Handles with / without Rivets
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :	Wholesalers and Retailers
No. of Employees :	40 (Approximately)
Bankers :	Oriental Bank of Commerce, 43, S C O Basant Lok, Vasant Vihar, New Delhi – 110 057, India

Banking Relations :	--
Auditors :
Name :	Vijay Kapoor and Company Chartered Accountant
Address :	Delhi, India
Sister Concern :	· Imaginative Flexipack Limited · Pack Well Industries

CAPITAL STRUCTURE

AS ON 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs. 10/- each	Rs.2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
195000	Equity Shares	Rs. 10/- each	Rs.1.950 Millions

FINANCIAL DATA

[All figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1.950
(b) Reserves & Surplus	13.300
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	15.250
(3) Non-Current Liabilities
(a) long-term borrowings	0.033
(b) Deferred tax liabilities (Net)	0.000
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	0.033
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	0.000
(c) Other current liabilities	0.210
(d) Short-term provisions	0.000
Total Current Liabilities (4)	0.210
TOTAL	15.493
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.000
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	0.855
Total Non-Current Assets	0.855
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	0.000
(d) Cash and cash equivalents	14.503
(e) Short-term loans and advances	0.000
(f) Other current assets	0.135
Total Current Assets	14.638
TOTAL	15.493

PROFIT & LOSS ACCOUNT

Particular	31.03.2012
Income from Business or Profession
Net Profit as per Profit and Loss A/c annexed	0.000
Net Taxable Income	0.000
Or Say	0.000
Tax thereon	0.000

KEY RATIOS

PARTICULARS		31.03.2012
PAT / Total Income	(%)	0.00
Debt Equity Ratio (Total Debt /Networth)		0.00
Current Ratio (Current Asset/Current Liability)		69.70

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last one years	Yes
12]	Profitability for last one 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	Yes
19]	Payments terms	Yes
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:

Particulars	31.03.2012 Rs. In Millions
Long Term Borrowings
Amitanshu Agarwal	0.006
Ritika Bansal	0.010
Sangeeta Bansal	0.017
Total	0.033

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10363190	04/06/2012	17,500,000.00	ORIENTAL BANK OF COMMERCE	43, S C O BASANT LOK, VASANT VIHAR, NEW DELHI, DELHI – 110 057, INDIA	B42703595
2	10363193	04/06/2012	27,000,000.00	ORIENTAL BANK OF COMMERCE	43, S C O BASANT LOK, VASANT VIHAR, NEW DELHI, DELHI – 110 057, INDIA	B42704221

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.61.41
UK Pound	1	Rs.99.29
Euro	1	Rs.83.68

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		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.