MIRA INFORM REPORT

Report Date :

25.06.2011

IDENTIFICATION DETAILS

Name :	CARGO MOTORS PRIVATE LIMITED
Registered Office :	1/9-B, Jindal House, Asaf Ali Road, New Delhi – 110002, Delhi
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	03.09.1959
Com. Reg. No.:	55-003124
Paid-Up Capital :	Rs. 129.300 Millions
CIN No.: [Company Identification No.]	U50101DL1959PTC003124
TAN No.: [Tax Deduction & Collection Account No.]	DELC00804G
Legal Form :	Private Limited Liability Company
Line of Business :	Dealer for all range of TATA Vehicles
No. of Employees :	Information not divulged by management

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 1700000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is very experienced company having satisfactory track. Trade relations are fair. Financial position is satisfactory. The company payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION DECLINED BY

Name :	Mr. Mohan Upreti
Designation :	Company Secretary

LOCATIONS

Registered / Head Office :	1/9-B, Jindal House, Asaf Ali Road, New Delhi – 110002, Delhi, India
Tel. No.:	91-11-23233022/ 23235397/ 23234781
Fax No.:	91-11-23237395
E-Mail :	cargodelho1@yahoo.com
Website:	http://www.cargomotors.com
Transportation and Logistic Division :	CMPL Kumar Farm, Opposite Maruti Stock – Yard, Caterpu, Gurgaon (HR)
Tel. No.:	91-124-4104484
Fax No.:	91-124-4105483
Branches :	Located At: · Ahmedabad · Amritsar · Batala : · Balachour · Baroda · Bhogpur · Chandigarh · Greater Noida · Gurgaon · Jalandhar · Jaipur · Jamshedpur · Jalandhar · Jalandhar Cantt · Kapurthala · Mumbai · Nakodar · Nawanshar · New Delhi · Pathankot · Pune · Rudrapur

DIRECTORS

(AS ON 30.09.2009)

Name :	Mr. Raj Kumar Nanda
Designation :	Chairman and Managing Director
Address :	16, Ring Road, Lajpatnagar – IV, New Delhi-110024, Delhi, India
Date of Birth/Age :	10.04.1932
Date of Appointment :	08.09.1962
Din No.:	0040228
Name :	Mrs. Anita Nanda
Designation :	Director
Address :	16, Ring Road, Lajpatnagar – IV, New Delhi-110024, Delhi, India
Date of Birth/Age :	11.12.1959
Date of Appointment :	31.12.1988
Din No.:	00035231
Name :	Mr. Pravesh Nanda
Designation :	Director
Address :	16, Ring Road, Lajpatnagar – IV, New Delhi-110024, Delhi, India
Date of Birth/Age :	11.10.1953
Date of Appointment :	27.09.1972
Din No.:	00063679
Name :	Mr. Jayant Nanda
Designation :	Director
Address :	16, Ring Road, Lajpatnagar – IV, New Delhi-110024, Delhi, India
Date of Birth/Age :	10.12.1956
Date of Appointment :	16.03.1983
Din No.:	00056740
Name :	Mr. Vimal Gujral
Designation :	Executive Director
Address :	Plot No. 204, Sector-4, Gandhidham (Kutch) -370201, Gujarat, India
Date of Birth/Age :	24.03.1950
Date of Appointment :	03.11.1998
Din No.:	00040201
Name :	Ms. Devki Nanda
Designation :	Director
Address :	16, Ring Road, Lajpatnagar – IV, New Delhi-110024, Delhi, India
Date of Birth/Age :	11.06.1987
Date of Appointment :	19.12.2005
Din No.:	00081333
Name :	Mr. Aditya Nanda
Designation :	Executive Director
Address :	16, Ring Road, Lajpatnagar – IV, New Delhi-110024, Delhi, India
Date of Birth/Age :	15.11.1980
Date of Appointment :	01.04.2006
Din No.:	00035037
Other Directorship :	Cargo Motors Punjab Private Limited U74899DL1983PTC015801 Cargo Construction Company Private Limited U45201DL1997PTC089427 Cargo Motors (Rajasthan) Private Limited U50101DL2004PTC126082 Cargo Motors (Kutch) Private Limited U34102DL2005PTC134888 Three Sixty Life Style Private Limited U00000PB2003PTC026233
Name :	Mr. Sandeep Kumar Agarwal
Designation :	Director
Address :	30A, Defence Colony, Jalandhar City, Jalandhar-144001, Punjab, India
Date of Birth/Age :	12.08.1951
Date of Appointment :	01.03.2000
Din No.:	00040116
Name :	Mr. Dhruv Batra
Designation :	Director

KEY EXECUTIVES

Name :	Mr. Mohan Upreti
Designation :	Secretary
Address :	A-2/201, Hoover Apartments, Main Road, Sant Nagar, Delhil-110024, Delhi, India
Date of Birth/Age :	15.10.1960
Date of Appointment :	22.08.2007
Din No.:	AABPU5652M

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2009)

Names of Shareholders	No. of Shares
Y. P. Nanda (HUF)	8400
Raj Kumar Nanda	851600
Pravesh Nanda	19000
Mukkul Nanda	7000
Pramukh Nanda	21000
Pranav Nanda	20600
Jayant Nanda	4040500
Jayant Nanda (HUF)	20000
Anita Nanda	1144950
Aditya Nanda	750850
Devki Nanda	750100
Chetna Batra	5000
Asha Nanda	500
O. P. Nanda	500
Satish Nanda	500
Anil Nanda	3000
Jyotsna Suri	1000
Preeti Wahi	10
Vimal Gujral	2000
Sunil Nanda	500
Suman Dewan	1000
Kewal Singh	500
Sandeep Kumar Agarwal	4480
Sushilawati Agarwal	6000
. Karriers Finance Private Limited, India	500
Pooja Gujral	500
Narain Singh	10
Total	7660000

AS ON 30.09.2009

Category	Percentage
Bodies corporate	0.01
Directors or relatives of directors	99.85
Other top fifty shareholders	0.14
Total	100.00

BUSINESS DETAILS

Line of Business :	Dealer for all range of TATA Vehicles
Products :	· Domestic Transportation · Project Transport · Scheduled Transport · Milti Modal Transport · Customized Transport (Milk run, Hub and Spoke etc.)

GENERAL INFORMATION

Customers :

· Tata Group

· GM

· Honda Motors

· Honda Scooters

· Reliance

· Apollo Tyres

· John Derre

· Aditya Birla

· Reliance Fresh

No. of Employees :

Information not divulged by management

Bankers :

· HDFC Bank Limited, Kailash Building, KG Marg, Connaught Place, Delhi-110001, Delhi, India

· Yes Bank, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India

Facilities :

Secured Loans :	31.03.2010 Rs. in Millions	31.03.2009 Rs. in Millions
(including interest accrued and due) short term loans and advances From Banks (Secured against hypothecation of stock and Fixed Assets and also guaranteed by the Directors of the company)	305.556	80.703
From Others (Secured against hypothecation of Vehicles)	86.053	9.067
Total	391.609	89.770

Unsecured Loans :	31.03.2010 Rs. in Millions	31.03.2009 Rs. in Millions
Short Term Loans and Advances (including interest accrued and due)
From Banks (Guaranteed by the Directors of the company)	377.423	499.607
From Others	210.995
From Directors	354.363	311.102
From Shareholders	11.916	9.856
Total	954.697	820.565

Banking Relations :	-
Auditors :
Name :	Ashok Khandelwal Associates Chartered Accountants
Address :	912-B, Indra Prakash, 21, Barakhamba Road, New Delhi-110001, India
Tel. No.:	91-11-23319140
Mobile No.:	91-9810313391 / 9312221061
Fax No.:	91-11-23730523
E-Mail :	ashok@khandelwalassociates.com
Associates/Subsidiaries :	· Karriers Finance Private Limited · Cargo Motors (Punjab) Private Limited · Gurind Glass Private Limited · Gurind Systems Private Limited · Cargo Motors (Punjab)Private Limited U74899DL1983PTC015801 · Cargo Construction Company Private Limited U45201DL1997PTC089427 · Cargo Motors (Rajasthan) Private Limited U50101DL2004PTC126082 · Cargo Motors (Kutch) Private Limited U34102DL2005PTC134888 · Three Sixty Life Style Private Limited U00000PB2003PTC026233

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Shares	Rs.10/- each	Rs.250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12930000	Equity Shares	Rs.10/- each	Rs.129.300 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		129.300	76.600	50.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		293.011	247.240	236.696
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		422.311	323.840	286.696
LOAN FUNDS
1] Secured Loans		391.609	89.770	516.565
2] Unsecured Loans		954.697	820.565	783.171
TOTAL BORROWING		1346.306	910.335	1299.736
DEFERRED TAX LIABILITIES		0.914	1.081	1.998
TOTAL		1769.531	1235.256	1588.430
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		446.049	429.454	417.027
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		53.148	64.998	60.398
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	909.822	539.354	704.162
	Sundry Debtors	431.954	334.584	525.476
	Cash & Bank Balances	18.494	31.411	74.357
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	277.660	123.627	143.075
Total Current Assets		1637.930	1028.976	1447.070
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	318.846	105.907	151.359
	Other Current Liabilities	37.549	182.015	184.706
	Provisions	11.201	0.250	0.000
Total Current Liabilities		367.596	288.172	336.065
Net Current Assets		1270.334	740.804	1111.005
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1769.531	1235.256	1588.430

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		TOTAL (A)	11625.555	8593.960	12699.488
Less	EXPENSES
		Cost of Goods Sold	11097.384	8072.273	12119.635
		Other Expenditure	311.191	339.028	353.768
		TOTAL (B)	11408.575	8411.301	12473.403
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		216.980	182.659	226.085
Less	FINANCIAL EXPENSES (D)		107.603	117.519	129.304
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		109.377	64.140	96.781
Less/ Add	DEPRECIATION/ AMORTISATION (F)		38.798	44.237	40.228
	PROFIT BEFORE TAX (E-F) (G)		70.579	20.903	56.553
Less	TAX (H)		24.832	10.429	21.201
	PROFIT AFTER TAX (G-H) (I)		45.747	10.474	35.352
	Earnings Per Share (Rs.)		3.54	1.37	-

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.39	0.12	0.28
Return on Total Assets (PBT/Total Assets}	(%)	3.39	1.43	3.03
Return on Investment (ROI) (PBT/Networth)		0.17	0.06	0.20
Debt Equity Ratio (Total Liability/Networth)		4.06	3.70	5.71
Current Ratio (Current Asset/Current Liability)		4.46	3.57	4.31

LOCAL AGENCY FURTHER INFORMATION

MANAGEMENTS DISCUSSION AND ANALYSIS

After the economic downturn and financial crisis in the automotive sector in India in the year 2009, this year, economy in India as well as across the world showed sign of recovery and growth.

The Indian economy bounced back quickly and constantly growing at the rate of 7.2% in 2009-10. The automobile sector in India started the year steadily, gathered momentum in different segments in the second half of the year with a record growth and performance.

OPERATING RESULTS AND BUSINESS

Overall, 2009-10 has been a very satisfying year in terms of revenues was at Rs.1162-56 Crores, over 2008-09. The operating profit grew to Rs.70.675 millions as against Rs.20.903 millions over the previous year which shows remarkable growth but the Company has not achieved the turnover as well as net profit as was expected.

The Company has sold 15912 Tata Vehcles as against 11,956 during previous year.

The Company is also a dealer of Honda Scooters and Motorcycles India Private Limited and 5180 nos. of scooters were sold during the year as against 4944 during the last year. The revenue generated by the workshops of the company amounted toRs.117.900 millions during the current year as compared to Rs.132.600 millions in the previous year. The directors are expecting the excellent services continued to be rendered by the company to the customers in the ensuing years.

The company has managed well to sail through the deep recession during the year and was able to achieve the positive result by cost reduction and better management.

LOGISTICS BUSINESS:

The company has its domain in logistics business for last several years. In evidence, they have secured several contracts in previous years. Further also, they have taken the steps to increase their fleet by big trailers and planning for more in the current year with further expansion plans. They are also planning to tie-up with an international logistics gaints to become a future leader within the logistics business in India.

HOSPITALITY BUSINESS:

The construction of Hotels at the various locations is under process. It is expected to start its first Three Star hotel with 70 rooms in the current financial year at Maninagar and second hotel at Mundra is also in progress and would be ready in the coming financial year. To expand, the company has also submitted the plan for the approval of Hotel construction at Baroda and may take about 18 months. The Company is also planning three star hotels at Jalandhar and Amritsar in the coming year.

SOLAR, PORT AND CEMENT BUSINESS:

The company has ventured into the Power and Infrastructure space through its subsidiary company Cargo Power and Infrastructure Private Limited. These have following expansion plans:

1. Development of Greenfield Port in South Gujarat along with an International Port Operator.

2. Development of Greenfield Cement Plant in Gujarat along with a leading Indian EPC company.

3. The Company is first in India to have signed a 25MW Power Purchase Agreement with Gujarat Urja Vikas Nigam Limited on 3oth April 2010 to setup a solar thermal power project. In addition, we have also applied for lOOMW as part of the Jawaharlal Nehru National Solar Mission (JNNSM) to be setup as 50MW units each in Gujarat and Rajasthan respectively. Land in Kutchh, Gujarat and Jodhpur (Rajasthan) has been already identified for the project and the company is in the process of purchasing the required land.

FORM 8:

BANKERS CHARGES REPORT AS PER REGISTRY

Name of the company

CARGO MOTORS PRIVATE LIMITED

Presented By

Hdfc Bank Limited and Cargo Motors Private Limited

1) Date and description of instrument creating the change

Dated: 07.04.2003. Letter of Hypothecation of Stock and Book Debts.

2) Amount secured by the charge/amount owing on the securities of charge

Rs.250.000 Millions.

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

a) All the stock in trade both present and future consisting of vehicles, spare parts other merchandise whatsoever being movable properties now or at any time hereafter belonging to Borrower or at its disposal and now or at any time and from time to time hereafter stored or to be stored or in course of transit to Borrower's factory or premises or at any other place whatsoever and whosesoever in possession or occupation or at any other premises or place.

b) All the Book Debts, outstandings monies receivable, claims and bills which are now due and owing or which may at any time hereafter during the continuance of this security becomes due and owing to the Borrower in the course of its business by any person, firm, company or body corporate or by the Government Department or office or any Municipal or Local or Public or Semi Government Body or authority or any body corporate or undertaking or project whatever in the Public Sector.

4) Gist of the terms and conditions and extent and operation of the charge.

I) The hypothecated assets stated above shall be the continuing security for the due repayment by the Borrower to the Bank at any time on demand.

Ii) The Borrower shall at all times during the continuance of this security maintain the said hypothecated assets and debts of a sufficient amount (as estimated by the Bank) so as to provide the margin of security as may from time to time be advised by the Bank to the Borrower.

5) Name and Address and description of the person entitled to the charge.

HDFC Bank Limited

Address : HT House, K. G. Marg, New Delhi- 110001, Delhi, India

6) Date and brief description of instrument modifying the charge

Dated: 04.10.2005.

a) Supplemental Letter of Hypothecation of Stocks and Book Debts; and

b) No instrument; but a mortgage created by re- deposit of title deeds In respect of company's immovable properties being Iying and situate in Gujarat and Punjab, as security.

(Collectively constitute a single charge for Rs.500.000 Millions)

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

A) Past Modifications:

The original charge created on 7.4.2003 for Rs.250.000 Millions has been modified and increased to Rs.350.000 Millions on 24.2.2005 against the security of Current Assets and immovable properties of the Company.

B) Present Modification:

(a)The Bank at the request of the Borrower has agreed to enhance the credit facilities inter alia that the hypothecated assets shall constitute security not only for the existing credit facilities but also for the enhanced limit as shown hereunder:

Facility	Existing Limits	Revised Limits
	(Rs. in Millions)
Fund Based Facilities	350.000	500.000
Total	350.000	500.000

together with interest, costs, expenses and charges.

b) The Company has now created a mortgage by re-deposit of title deeds In respect of the Company's immovable properties, namely:

(i) All that piece or parcel of the land being Tenement No.D/41, admeasuring about 65 sq. yds, in Surjak Owners Associations the scheme known as Shakti Tenement bearing Survey No.353 of Mouje Village Isanpur, Taluka City District and Sub District Ahmedabad;

ii) All that piece or parcel of the land being Tenement No.D/42, admeasuring about 65 sq. yds, in Surjak Owners Association the scheme known as Shakti Tenement bearing Survey NO.353 of Mouje Village Isanpur, Taluka City, District and Sub District Ahmedabad ;

iii) All that piece or parcel of the land being Shop No.16, on Ground floor, admeasuring about 421 sq.fts. in the building known as National Chamber bearing sub plot Nos.6/1 and 7 of final plot Nos.187/2 of T. P. Scheme no.3 of mouje village Sheikhpur-Khanpur, Taluka City, Dist. Sub Dist. Ahmedabad.

iv) All that piece or parcel of the land being Shop No.17, on Ground floor, admeasuring about 421 sq. fts. in the building known as National Chamber bearing sub plot Nos.6/1 and 7 of final plot Nos.187/2 of T. P. Scheme no.3 of mouje village Sheikhpur-Khanpur, Taluka City, Dist. Sub Dist. Ahmedabad.

v) All that piece or parcel of the land being final Plot No.111/A, T. P. Scheme No.1/B admeasuring about 636 sq. mtrs of Survey No.235/2, of Mouje Village Bodakdev, Taluka Daskroi, Dist. Sub Dist. Ahmedabad.

vi) All that piece or parcel of property bearing Khata No.2111289, Khasra NO.32/13/2/2-17/1 1 Canal-18 MLS), 32/18/2/1-22/212-23/1, (5 Canal-O MLS,2 Canal, 9 MLS, 4 Canal, 1 MLS situated at Village Dhanuwall, Tehsil and Dist. Jalandhar, Punjab admeasuring total area 13 Canal 8 MLS."

vii) All that piece or parcel of property bearing Plot No.23 out of Khata No.5628/655S, Khasra No.24867/19259, 19260/6160, 24868/19261, 24871/19262, 24873/19364, 24875/19271, 24877/19212, 24879/19273, 24881/19214, 19275/6169 to 7173, total area 6 Marlas 40 sq. ft. situated at Ranjit Nagar,Jalandhar, Punjab. .

viii) All that piece or parcel of property bearing Plot No.22 out of Khata No.S628/655S, Khasra No.24867/19259, 19260/6160, 24868/19261, 24785/19271, 24871/19262, 24873/19264, 24877/19272, 24879/19273, 24881/19274, 19275/6169 to 6173, (1-7, 3-1, 2-5, 0-7, 0-3, 0-7, 1-12, 5-11,4-4, 73-8) total area 16 Marlas 118 sq. ft. situated at Ranjit Nagar, Jalandhar, Punjab.

ix) All that piece or parcel of property bearing Plot No.23 out of Khata No.5628/6555, Khasra No.24867/19259, 24868/19261, 24871/19262, 19260/6160, 24873/19264, 24875/19271, 24877/19272, 24879/19273, 24881/19274, 19275/6169 to 7173, total area 4 Marias 16 sq. ft. situated at Ranjit Nagar, Jalandhar, Punjab.

x) All that piece or parcel of property bearing Plot No.23 out of Khata No.5628/6555, Khasra No.24867/19259, 19260/6160, 24868/19261, 24871/19262, 24873/19264, 24875/19271, 24877/19272, 24879/19273, 24881/19274, 19275/6169 to 7113, total area 6 Marias 39 sq.ft. situated at Ranjit Nagar, Jalandhar, Punjab.

as security for the due repayment of the said enhanced credit facilities aggregating to Rs. 500.000 Millions, together with interest, additional interest, penal interest, liquidated

damages, costs, charges and expenses, etc.

Thus, the mortgage charge now stands secured at Rs.500.000 Millions.

Corporate identity number of the company	U50101DL1959PTC003124
Name of the company	CARGO MOTORS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	1/9-B, Jindal House, Asaf Ali Road, New - 110002, Delhi, India Cargodelho1@yahoo.com
This form is for	Creation of charge
Type of charge	Immovable Property Any Interests in immovable Property
Particular of charge holder	Yes Bank, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India shareholders@yesbank.in
Nature of description of the instrument creating or modifying the charge	Memorandum of Equitable Mortgage
Date of instrument Creating the charge	22.07.2010
Amount secured by the charge	Rs.125.000 Millions.
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest : 0.75% p.a. (all inclusive) plus applicable taxes payable annually in advance Terms of Repayment : Tenor: 42 Months (Including claim Period) Margin : NA Extent and Operation of the charge : First Exclusive charge on property at R S No.171, Sadarpur, Taluka Palanpur, District Banaskantha, Gujarat
Short particulars of the property charged	First Exclusive charge on property at R S No.171, Sadarpur, Taluka Palanpur, District Banaskantha, Gujarat

FIXED ASSETS:

· Leasehold Hold and Free Hold Land

· Buildings

· Plant and Machinery

· Furniture and Fixtures

· Electric Installation and Office equipments

· Vehicles Commercial and Others

WEBSITE DETAILS:

CORPORATE PROFILE:

Subject has been associated with Tata Motors for the last fifty years. They commenced operations selling commercial vehicles in the Kutch region of Gujarat after our Founding Chairman was awarded the dealership in 1959. Since then they have expanded their territories into Punjab and Rajasthan and have a state-wide presence in Gujarat. They are the largest selling dealer for Tata commercial vehicles and have also diversified into passenger cars and construction equipment.

To support the existing main business of car dealership, Cargo Logistics was set up as a venture into the car transportation business to maintain their leadership in selling maximum numbers of Telco cars with focus on enhanced customer service with uninterrupted supply chain. To leverage on the growing Indian economy and development of infrastructure, Company has added a new wing to its services “Integrated Transportation and Logistics Solution: to focus on the demands and needs of the customer”. The company is also involved with Chassis Transportation Ex. Pune and Ex. Tata Nagar. They are authorized transporters for TATA Motors, Honda, The Vardhman Group, etc.

The New Wing is currently engaged in transportation of automobiles and also providing complete logistics solutions across India for its prestigious customers. It has always moved ahead with the paramount objective – to organize and streamline cargo transportation industry in India. They value their clientele and always aim to provide world-class service and customer satisfaction.

Cargo Construction Private Limited was set up in 2005  and is the division dealing in TELCON Construction equipment and spares. They are authorized dealers for TELCON’s full range of products based in Delhi and The NCR.

The Cargo Group has also recently entered into the Hospitality sector in consortium with their sister concern, Bharat Hotels Private Limited. They plan on opening a string of Business Hotels in the major cities of Gujarat and Punjab in the next five years.

GROUP COMPANIES

Cargo Motors (Punjab) Private Limited  A Dealer for Honda Motorcycle and Scooters (India) Private Limited (HMSI) in Jalandhar and  Nawanshahr with Service Centres at Phagwara and Bhogpur  in the state of Punjab.

Cargo Motors (Rajasthan) Private Limited has recently been awarded the Tata Dealership in the districts of Ajmer, Bhilwara and Chittorgarh in Rajasthan.

Cargo Construction Company Private Limited is a Dealer for Telco Construction Equipment Company Limited (Telcon),  manufacturers  of  Excavators and  other  Construction  Equip- ments  for  Northern  India  such  as  Delhi,  UP (Ghaziabad and Noida),  Haryana. The Company owns property at Goa known as DECIMO QUINTO LANCO PRAIAS, situated at Varca, District of south Goa, in the State of Goa, measuring 43950 sq. metres and 2700 sq. metres. The Company also owns developed land measuring 3555.55 Sq. Yards in Baroda (Gujarat).

Karriers Finance Private Limited, (NBFC Registered with Reserve Bank of India) a Company incorporated in 1955 and engaged in the business of Leasing, Financing and Hire Purchase of all types of Motor Vehicles in the State of Delhi, Punjab and Gujarat.

Gurind Glass Private Limited is a JV Company and engaged in the business of Manufactures, processors, designers, buyers, sellers, importers, exporters, Traders, Agents and Dealers in all types of bevelled and unlevelled silver sheets, float and plate glass lead mirror, gold mirror, curved and laminated glass, safety glass, fibre glass, sheet glass, decorative glass and all other types of glass products and glass wares.  The Company is having its own Plant at kalaamb, Himachal Pradesh.

Gurind Systems Private Limited is a JV Company and engaged in the business of manufactures and dealers in all kinds of systems of hosiery machinery, components, mills, handlooms, power looms, cotton ginning and pressing machinery.  The company shall set up a plant to manufacture aluminium composite panels for architectural and construction industry in kalaamb, Himachal Pradesh.

CMPL (Transporation and Logistic Divison) Cargo Motors has become one of the most sought after Transportation and Logistics companies in India. The fact is well endorsed by the customers nationally. With a fleet of more than 270 vehicles including trucks, trailers, 32’ft containers and LCVs and with a network of warehouses in major cities in India, Cargo Motors offers a truly integrated  bouquet of total Logistics Services to its customers.

Cargo Motors has set internal quality parameters in the form of a quality policy which ensures that each member of the Cargo Motors family imbibes the quality elements and complies with the set quality norms. The internal processes are designed as per the quality parameters. Even our drivers are ensured to be compliant with the norms set forth for safety, security and quality. The processes are thoroughly monitored and regularly audited.

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 records 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 records 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.44.94
UK Pound	1	Rs.71.89
Euro	1	Rs.64.09

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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
TOTAL		54

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.