MIRA INFORM REPORT

Report Date :

06.01.2014

IDENTIFICATION DETAILS

Name :	MOHAN MUTHA POLYTECH PRIVATE LIMITED
Registered Office :	Siyat House, 961, Poonamallee High Road, Chennai-600084, Tamilnadu
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	22.03.2010
Com. Reg. No.:	18-075024
Capital Investment / Paid-up Capital :	Rs.5.000 Millions
CIN No.: [Company Identification No.]	U25209TN2010PTC075024
TAN No.: [Tax Deduction & Collection Account No.]	CHEM13197C
PAN No.: [Permanent Account No.]	AAGCM4452M
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Flexible Packaging Material.
No. of Employees :	40 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 15000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Even though the company was incorporated on 22.03.2010 the company has recently commenced its business activities. It is having moderate track record. Ms. Rajeshwari, Secretary provided general information and also informed that company has started its business activity from September 2013. Trade relations are improving. Business is active. Payment terms are unknown. The company can be considering for business dealing with 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 – September 30, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
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

India’s current account deficit narrowed in the quarter ended September as government measures to curb imports, especially gold, kicked in.  The current account deficit, the excess of a country’s imports of goods and services over exports, narrowed to $ 5.2 billion from $ 21 billion in the year ago period, according to provisional Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and the latest data suggests the government may achieve the target.

India was ranked 94^th among the world’s most corrupt nations list. Denmark and New Zealand topped as the cleanest while Somalia emerged as the most corrupt.

India’s services sector activity witnessed a moderate improvement in November over the previous month, even while indicating the fifth successive monthly contraction, according the HSBC survey.

$53 million estimated losses suffered by India due to phishing attacks during the third quarter, according to a study by RSA. India ranks fourth in the list of nations hit by phishing attacks. The US remained at the top of the charts. Phishing is the process of acquiring information such as user names, passwords and credit card details by sending e-mails disguised as official mails.

Rs.4080 million worth of mobile-phone-based transactions by July 2013 compared to Rs.260 million in September, 2012, according to Deloitte report. The number of transactions has shot up from 94000 to 701000.

India aims to earn Rs.400000 million from the bandwidth auction set for January. The merger and acquisition guidelines, cleared by a group of ministers, will be out before the auction begins so that players can make informed decisions on the auctions.

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. Rajeshwari
Designation :	Secretary
Contact No.:	91-44-43444666
Date :	04.01.2014

LOCATIONS

Registered Office :	Siyat House, 961, Poonamallee High Road, Chennai-600084, Tamilnadu, India
Tel. No.:	91-44-26430087/89
Fax No.:	91-44-43444888/999
E-Mail :	info@mmpolytech.com accounts@mmexports.com kual.mutha@mmpolytech.com
Website :	http://www.mmpolytech.com
Area :	500 Sq. Ft.
Location :	Leased
Factory :	80, Italia Lane, Sector 21, Sricity, Varadaiahpalem, Chitoor-517541 District, Andhra Pradesh, India

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Suresh Mutha

Designation :

Director

Address :

F-30, Siddharth Palace, 9-10, Vepery Church Road, Chennai-600007, Tamilnadu, India

Date of Birth/Age :

15.07.1967

Date of Appointment :

22.03.2010

Din No.:

00587621

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	U74999TN2006PTC059050	MOHAN MUTHA EXPORTS PRIVATE LIMITED	Whole-time director	01/04/2006	01/03/2006	Active	NO
2	U70102TN2008PTC067386	MOHAN MUTHA INFRASTRUCTURES PRIVATE LIMITED	Director	17/04/2008	17/04/2008	Active	NO
3	U80301MH2008NPL185420	JITO ADMINISTRATIVE TRAINING FOUNDATION	Director	30/12/2009	14/08/2008	Active	NO
4	U31401TN2009PTC070800	M M ENERGY PRIVATE LIMITED	Director	21/02/2009	21/02/2009	Active	NO
5	U25209TN2010PTC075024	MOHAN MUTHA POLYTECH PRIVATE LIMITED	Director	22/03/2010	22/03/2010	Active	NO
6	U45400TN2010PTC075789	PRUKSA-MOHAN MUTHA HOUSING PRIVATE LIMITED	Director	21/05/2010	21/05/2010	Strike off	NO
7	U65993TN2010PTC076188	MOHAN MUTHA SONS INVESTMENTS PRIVATE LIMITED	Director	17/06/2010	17/06/2010	Active	NO
8	U45400TN2011PTC081408	PRUKSA-MOHAN MUTHA REAL ESTATE PRIVATE LIMITED	Director	07/07/2011	07/07/2011	Active	NO
9	U74999MH2007NPL168975	JAIN INTERNATIONAL TRADE ORGANISATION	Director	25/09/2012	25/09/2012	Active	NO

Name :

Mr. Kunal Rameshkumar Mutha

Designation :

Director

Address :

F-341, Vaibav Apartments, 62, EVK Sampath Road, Vepery, Chennai-600007, Tamilnadu, India

Date of Birth/Age :

02.12.1962

Date of Appointment :

22.03.2010

Din No.:

00587685

Name :

Mr. Hansraj Mohanlal Praful Kumar Mutha

Designation :

Director

Address :

Flat No. 3-A, Third Floor, Prince Paradise, 75, Jermiah Road, Vepery, Chennai-600007, Tamilnadu, India

Date of Birth/Age :

15.07.1967

Date of Appointment :

22.03.2010

Din No.:

00587757

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	U70102TN2008PTC067386	MOHAN MUTHA INFRASTRUCTURES PRIVATE LIMITED	Director	17/04/2008	17/04/2008	-	Active	NO
2	U99000TN1989NPL016779	INDO-AUSTRALIAN CHAMBER OF COMMERCE	Director	30/09/2008	30/09/2008	14/09/2011	Active	NO
3	U25209TN2010PTC075024	MOHAN MUTHA POLYTECH PRIVATE LIMITED	Director	22/03/2010	22/03/2010	-	Active	NO
4	U45400TN2010PTC075789	PRUKSA-MOHAN MUTHA HOUSING PRIVATE LIMITED	Director	21/05/2010	21/05/2010	-	Strike off	NO
5	U24232TN2010PTC077389	MUTHA LIFELAB PRIVATE LIMITED	Director	20/09/2010	20/09/2010	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Rajeshwari
Designation :	Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Mohan Mutha Sons Investments Private Limited, India	499700
Hansraj M. Mutha	100
Suresh Mutha	100
Bhagyavathi Mutha	100
TOTAL	500000

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Flexible Packaging Material.
Exports :
Products :	Flexible Packaging Material
Countries :	· Sri Lanka · Bangladesh · Pakistan · Germany
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Customers :

Retailers and End Users

No. of Employees :

40 [Approximately]

Bankers :

ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda-390015, Gujarat, India

Facilities :

Secured Loan	As on 31.03.2013 [Rs. In Millions]	As on 31.03.2012 [Rs. In Millions]
Long Term Borrowings
Term Loan Banks	14.950	0.000
TOTAL	14.950	0.000

Banking Relations :	--
Auditors :
Name :	M G Bohara and Company Chartered Accountants
Address :	963, Poonamallee High Road, Cresecent Court, 4^th Floor, Chennai-600084, Tamilnadu, India
PAN No:	AALFM7732P
Sister Concern :	· Mohan Mutha Sons Investment Private Limited · MM Energy Private Limited · Mohan Mutha Exports Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2013

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
500000	Equity Shares	Rs.10/- each	Rs.5.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

NOTE: FINANCIAL DETAILS FILE ATTACHED.

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	Yes
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 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	Yes
20]	Export / Import details (if applicable)	Yes
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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10400579	04/02/2013 *	174,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA	B67215418
* Date of charge modification

OPERATIONS:

The company was not able to commence its operations during the period under report due to unavoidable circumstances. The company is in the process of set up of manufacturing facility, and the work is still in progress. All efforts are being taken to commence the operations at the earliest.

Unsecured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Long Term Borrowings
Loans and Advances From Directors and Related Parties	64.700	10.575
TOTAL	64.700	10.575

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.62.40
UK Pound	1	Rs.102.54
Euro	1	Rs.85.20

INFORMATION DETAILS

Information Gathered by :	NYA
Report Prepared by :	TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
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	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.