MIRA INFORM REPORT

Report Date :

12.09.2011

IDENTIFICATION DETAILS

Name :	FLEET CONTAINER LINES (INDIA) PRIVATE LIMITED
Registered Office :	201, Elecon Arcade, opposite S M Centre, Andheri-Kurla Road, Marol, Andheri East, Mumbai – 400059, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	08.12.1999
Com. Reg. No.:	122963
Capital Investment / Paid-up Capital :	Rs.5.000 Millions
CIN No.: [Company Identification No.]	U35110MH1999PTC122963
TAN No.: [Tax Deduction & Collection Account No.]	MUMF03434E
PAN No.: [Permanent Account No.]	AAACE4218J
Legal Form :	Private Limited Liability Company
Line of Business :	Service Provider of Cargo Shipping and Clearing forwarding.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 76992
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments terms are reported to be 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.

INFORMATION DECLINED BY

Name :	Mr. Sanjay
Designation :	Accounts Department
Date :	10.09.2011

LOCATIONS

Registered Office/Corporate office :	201, Elecon Arcade, opposite S M Centre, Andheri-Kurla Road, Marol, Andheri East, Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-28506836 (5 Lines)
Fax No.:	91-22-28510044
E-Mail :	info@fleetcontainer.com
Website :
Delhi Office :	142, Ansal Chambers II, Bhikaji Cama Place, New Delhi - 66.
E-Mail :	info_jaipur@fleetcontainer.com
Jodhpur Office :	W/4-5, Basni Phase II, Near Inland Container Depot, Jodhpur - 342 005.
Tel. No.:	91-291-2748131/141/158/ 2746532
Fax No.:	91-291-2748295
E-Mail :	info_jaipur@fleetcontainer.com
Jaipur Office :	Shankar Villa, D-45, New Colony, Near Panch Batti, Jaipur – 302001, Rajasthan, India
Tel. No.:	91-141-- 2371295 / 2374513
Fax No.:	91-141-2371295
E-Mail :	info_jaipur@fleetcontainer.com
Bangalore Office :	112, 1st floor, Cannection point, Airport Exit Road, Bangalore - 560 017, Karnataka, India
Tel. No.:	91-80-25220929, 25223224, 25221688
Fax No.:	91-80-25221804
E-Mail :	info_chennai@fleetcontainer.com
Hyderabad Office :	176 Motilal Nehru Nagar, Begum-pet, Hyderabad 500 016, Andhra Pradesh, India
Tel. No.:	91-40-2764678
Fax No.:	91-40-27761033, 55501381
E-Mail :	info_chennai@fleetcontainer.com
Cochin :	Voltas compound, XXIV 1289, Venkataraman Road, Wellingdon Island, Kochi-682 003, Kerala, India
Tel. No.:	91-484-2667171, 2667159, 2669151
Fax No.:	91-484-2668197
E-Mail :	info_chennai@fleetcontainer.com
Tuticorin :	23, Manal street , Tuticorin - 628 001, Tamil Nadu, India
Tel. No.:	91-461-2327089
Fax No.:	91-461-2322715
E-Mail :	info_chennai@fleetcontainer.com
Chennai :	229/5, 1st floor, Mercantile Plaza, NSC Bose Road , Chennai - 600 001, Tamil Nadu, India
Tel. No.:	9144-43012503
Fax No.:	91-44-43012503
E-Mail :	info_chennai@fleetcontainer.com
Kolkata :	Hasting Chambers, 7C, Kiran Shankar Roy Road, Basement, Kolkata – 700001, West Bengal, India
Tel. No.:	91-33-22481550 / 0325
Fax No.:	91-33-22480325
E-Mail :	info_kolkatta@fleetcontainer.com
OVERSEAS OFFICES:
Canada:	5511 Tomken Road, Suite 208 , Mississauga, Ontario L4W 4B8 - Canada.
Tel. No.:	001 - 905 614 0438
Fax No.:	011- 905 614 0008
Singapore :	10, Anson Road, # 22-03, International Plaza, Singapore 079903.
Tel. No.:	00656423 - 1311 / 1125
Fax No.:	006562411822

DIRECTORS

AS ON 30.09.2010

Name :	Mr. Vishwapriya Shrivastava
Designation :	Director
Address :	17/18-A, 17^th Floor, Loorvice Roy Park, Tower Thakur Village, Kandivali East, Mumbai – 400101, Maharashtra, India
Date of Appointment :	01.04.2002

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U35110MH1999PTC122963	FLEET CONTAINER LINES (INDIA) PRIVATE LIMITED	Director	01/04/2002	01/04/2002	-	Active	NO
2	U85110MH2003PTC142511	VTI CHEM PHARM PRIVATE LIMITED	Director	03/10/2003	03/10/2003	-	Active	YES
3	U15549MH2006PTC166296	CASA DEL VINO PRIVATE LIMITED	Director	18/12/2006	18/12/2006	-	Active	YES
4	U01117MH2007PTC167010	SRIVASTAVAS GREEN HOUSE PVT LTD	Director	20/01/2007	20/01/2007	30/08/2010	Active	NO
5	U62200RJ2007PTC023799	FLEET CONTAINER LINES (NORTH INDIA) PRIVATE LIMITED	Director	07/02/2007	07/02/2007	-	Active	NO

Name :	Mr. Sumi Shrivastava
Designation :	Director
Address :	17/18-A, 17^th Floor, Loorvice Roy Park, Tower Thakur Village, Kandivali East, Mumbai – 400101, Maharashtra, India
Date of Appointment :	08.12.1999

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U35110MH1999PTC122963	FLEET CONTAINER LINES (INDIA) PRIVATE LIMITED	Director	08/12/1999	08/12/1999	-	Active	NO
2	U85110MH2003PTC142511	VTI CHEM PHARM PRIVATE LIMITED	Director	16/12/2004	16/12/2004	01/03/2011	Active	YES
3	U01117MH2007PTC167010	SRIVASTAVAS GREEN HOUSE PVT LTD	Managing director	15/12/2010	15/01/2007	-	Active	NO

Name :	Mr. Bhaskar Ghaisas
Designation :	Director
Address :	Avadh00t Block No.8, Rammaruti Cross Road No 3, Naupada, Thane – 400602, Maharashtra, India
Date of Appointment :	08.12.1999
Date of Ceasing :	30.04.2010

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U35110MH1999PTC122963	FLEET CONTAINER LINES (INDIA) PRIVATE LIMITED	Director	08/12/1999	08/12/1999	30/04/2010	Active	NO
2	U85110MH2003PTC142511	VTI CHEM PHARM PRIVATE LIMITED	Director	03/10/2003	03/10/2003	-	Active	YES
3	U15549MH2006PTC166296	CASA DEL VINO PRIVATE LIMITED	Director	18/12/2006	18/12/2006	14/03/2009	Active	YES
4	U62200RJ2007PTC023799	FLEET CONTAINER LINES (NORTH INDIA) PRIVATE LIMITED	Director	07/02/2007	07/02/2007	-	Active	NO
5	U74990MH2010PTC201514	DELTA CONSHIP PRIVATE LIMITED	Director	31/03/2010	31/03/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sanjay
Designation :	Accounts Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders	No. of Shares
Vishwapriya Shrivastava	225325
Sumi Shrivastava	225925
Renu Shrivastava	48750
Total	500000

AS ON 30.09.2010

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Service Provider of Cargo Shipping and Clearing forwarding.

GENERAL INFORMATION

No. of Employees :

Bankers :

State Bank of India, Marol Branch Silver Arcade, Marol Maroshi Road, Marol, Mumbai - 400059, Maharashtra, India

Facilities :

SECURED LOAN	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
Overdraft from SBI – Marol Branch (Secured against hypothecation of Book Debts)	35.851	41.491
Term Loan from Banks (Secured against hypothecation of Vehicle)	3.394	1.646
TOTAL	39.245	43.137

Banking Relations :	--
Auditors :
Name :	Appan and Lokhandwala Associates Chartered Accountant
Address :	402, Shiv Ashish, Plot No.10, 19^th Road, Chembur, Mumbai – 400071, Maharashtra, India
Tel No.:	91-22-61177600/61177611
Email:	subbu@appanlokhandwala.com
Associates/Subsidiaries :	NA

CAPITAL STRUCTURE

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 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		2.500	2.500	2.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		16.748	14.337	13.648
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		19.248	16.837	16.148
LOAN FUNDS
1] Secured Loans		39.245	43.137	67.417
2] Unsecured Loans		7.205	8.520	12.427
TOTAL BORROWING		46.450	51.657	79.844
DEFERRED TAX LIABILITIES		0.000	0.000	0.00
TOTAL		65.698	68.494	95.992
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6.356	15.264	17.468
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.547	0.547	0.547
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	18.931	11.210	0.041
	Sundry Debtors	37.203	62.549	64.000
	Cash & Bank Balances	2.253	5.454	50.960
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	27.005	30.823	27.831
Total Current Assets		85.392	110.036	142.832
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	21.908	54.497	48.740
	Other Current Liabilities	4.665	2.747	3.821
	Provisions	0.748	0.637	12.722
Total Current Liabilities		27.321	57.881	65.283
Net Current Assets		58.071	52.155	77.549
MISCELLANEOUS EXPENSES		0.725	0.528	0.428
TOTAL		65.698	68.494	95.992

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		5.384	4.130	13.083
Less/ Add	DEPRECIATION/ AMORTISATION		1.804	2.313	2.485
	PROFIT BEFORE TAX		3.580	1.817	10.598
Less	TAX		1.169	1.129	4.215
	PROFIT AFTER TAX		2.411	0.688	6.383
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		13.034	12.346	6.693
	BALANCE CARRIED TO THE B/S		15.445	13.034	12.346

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	NA	NA	NA
Net Profit Margin (PBT/Sales)	(%)	NA	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	3.90	1.45	6.61
Return on Investment (ROI) (PBT/Networth)		0.19	0.11	0.66
Debt Equity Ratio (Total Liability/Networth)		3.83	6.61	8.99
Current Ratio (Current Asset/Current Liability)		3.13	1.90	2.19

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS

(Rs. In Millions)

Particulars	31.03.2010	31.03.2009	31.03.2008
Sundry Creditors	21.908	54.497	48.740

Business:

The company could handle the high value business with customers like Videocon International Limited, Ballarpur Industries, Lucid Colliads Limited, Aarti Industries Limited, Bilt Graphic Paper Products Limited, etc. which to the company’s performance substantially.

Form 8;

This form is for	Modification of charge
Charge identification number of the modified	10127370
Corporate identity number of the company	U35110MH1999PTC122963
Name of the company	FLEET CONTAINER LINES (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	201, Elecon Arcade, Opp. S.M.Centre Andheri-Kurla Road, Marol,Andheri East, Mumbai – 400059, Maharashtra, India
Type of charge	Immovable Property
Particular of charge holder	State Bank of India
Nature of description of the instrument creating or modifying the charge	Memorandum Of Deposit Of Title Deeds
Date of instrument Creating the charge	04.02.2009
Amount secured by the charge	Rs.40.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest At 1.5% Above/Below State Bank Advance Rate (Sbar)(Sbar = 13.75% ) With A Minimum Of 15.25% Per Annum Margin MARGIN : 50% Extent and Operation of the charge The Bank Had Sanctioned Dcc Limit Of Rs. Four Crores To The Borrower. To Secure The Repayment Of Said Limit Along With Interest The Borrower Has Created Additional Charge In Favour Of The Bank By Way Of Equitable Mortgage By Deposit Of Title Deeds Of Flat No Premises No. 201, 2nd Floor Admeasuring 612 Sq.Ft. Bearing Cts No 1611, Elecon Arcade Situated At Marol Village , Andheri (East), Mumbai - 400 059
Short particulars of the property charged	The Bank Had Sanctioned Dcc Limit Of Rs. Four Crores To The Borrower. To Secure The Repayment Of Said Limit Along With Interest The Borrower Has Created Additional Charge In Favour Of The Bank By Way Of Equitable Mortgage By Deposit Of Title Deeds Of Flat No Premises No. 201, 2nd Floor Admeasuring 612 Sq. Ft. Bearing Cts No 1611, Elecon Arcade Situated At Marol Village , Andheri (East), Mumbai - 400 059

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.46.38
UK Pound	1	Rs.74.00
Euro	1	Rs.64.48

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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.