MIRA INFORM REPORT

Report Date :

04.02.2012

IDENTIFICATION DETAILS

Name :	ALBATROSS SHIPPING LIMITED (w.e.f. 11.09.2007)
Formerly Known As :	ALBATROSS SHIPPING PRIVATE LIMITED
Registered Office :	4^th Floor, Geet Mala Building, Next to Shah, Industrial Estate, Deonar Village Road, Govandi (East), Mumbai – 400 088, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	23.08.1996
Com. Reg. No.:	11-102113
Capital Investment / Paid-up Capital :	Rs.0.500 million
CIN No.: [Company Identification No.]	U61000MH1996PLC102113
TAN No.: [Tax Deduction & Collection Account No.]	MUMA18932E
PAN No.: [Permanent Account No.]	AAACA7946E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Services and Freight Forwarding Activity.
No. of Employees :	160 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 190000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments 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 PARTED BY

Name :	Mr. Sanjay
Designation :	Accounts Manager
Contact No.:	91-22-67681500
Date :	03.02.2012

LOCATIONS

Registered Office :	4^th Floor, Geet Mala Building, Next to Shah, Industrial Estate, Deonar Village Road, Govandi (East), Mumbai – 400 088, Maharashtra, India
Tel. No.:	91-22-67681533 / 67895600 / 67681500
Fax No.:	91-22-67681554 / 67251500
E-Mail :	shigwan.albamum@transworld.com sect@tmc.co.in
Location :	Owned
Branch Office :	102, 1^st Floor, Sai Pooja Building, Near Jankalyan Bank, J. B. Nagar, Mumbai - 400 059, Maharashtra, India

DIRECTORS

As on 29.09.2011

Name :	Mr. Ramakrishnan Sivaswamy
Designation :	Director
Address :	12 A, Thakur Niwas, J Tata Road, Mumbai – 400 020, Maharashtra, India
Date of Birth/Age :	01.01.1961
Date of Appointment :	23.08.1996
DIN No.:	00057637

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	U35110MH1977PLC020050	Transworld Shipping And Logistics Limited	Director	31-12-77	31-12-77	-	Active	NO
2	U51100MH1980PLC022476	Haytrans (India) Limited	Director	23-04-80	23-04-80	-	Active	NO
3	U24239TN1985PTC067397	Transworld Pharma (Madras) Private Limited	Director	23-02-85	23-02-85	07-09-07	Active	NO
4	U63032MH1985PLC035913	Albatross Surveyors Limited	Director	11-04-85	11-04-85	-	Strike off	NO
5	U51900MH1985PTC037871	Trident Trading Private Limited	Director	28-10-85	28-10-85	-	Active	NO
6	L63000MH1988PLC048500	Shreyas Shipping And Logistics Limited	Managing director	01-04-04	16-08-88	-	Active	NO
7	U74999TN1989PTC018060	Transworld Gls (India) Private Limited	Director	15-09-89	15-09-89	-	Active	NO
8	U70101TN1990PTC019328	Sivaswamy Holdings Private Limited	Director	21-06-90	21-06-90	-	Active	NO
9	U63090TN1990PTC020008	Meridian Shipping Agency Private Limited	Director	12-12-90	12-12-90	-	Active	NO
10	U61100MH1991PTC060411	Clarion Solutions Private Limited	Director	21-02-91	21-02-91	-	Active	NO
11	U74140TN1992PTC022064	Transworld Management Consultancy Private Limited	Director	23-01-92	23-01-92	-	Active	NO
12	U63090MH1992PLC067211	Crescent Shipping Agency (India) Limited	Director	15-06-92	15-06-92	-	Active	NO
13	U67190MH1992PLC068968	Transcorp Finance Limited	Director	12-10-92	12-10-92	-	Active	NO
14	U71120TN1993PLC025476	Transworld Logistics Limited	Director	21-07-93	21-07-93	-	Active	NO
15	U63011MH1993PTC189147	Tlpl Shipping and Logistics Private Limited	Director	20-10-93	20-10-93	-	Active	NO
16	U61100MH1994PLC077152	Shreyas Relay Systems Limited	Director	17-03-94	17-03-94	-	Active	NO
17	U35110MH1994PLC077668	Admec Logistics Limited	Director	12-04-94	12-04-94	-	Active	NO
18	U67120MH1994PTC082742	Transcorp Securities Limited	Director	09-11-94	09-11-94	-	Strike off	NO
19	U45201TN1995PTC029951	Transworld Constructions Private Limited	Director	25-01-95	25-01-95	-	Strike off	NO
20	U63090MH1995PLC093446	Relay Shipping Agency Limited	Director	09-10-95	09-10-95	-	Active	NO
21	U40100MH1995PLC094819	Transworld Energies Limited	Director	28-11-95	28-11-95	-	Strike off	NO
22	U52599TN1996PTC035012	Tejas Oil Private Limited	Director	02-04-96	02-04-96	-	Active	NO
23	U15141TN1996PTC035272	Transworld Oil Private Limited	Director	22-04-96	22-04-96	-	Active	NO
24	U61000MH1996PLC102113	Albatross Shipping Limited	Director	23-08-96	23-08-96	-	Active	NO
25	U63090MH1998PLC115223	Orient Express Ship Management Limited	Director	04-06-98	04-06-98	-	Active	NO
26	U63090TN2002PTC048327	Crescent Take Global Supply Chain Private Limited	Director	23-01-02	23-01-02	-	Strike off	NO
27	U63032TN2004PTC052994	Cma Cgm East and South India Private Limited	Director	19-04-04	19-04-04	01-10-07	Active	NO
28	U63000MH2004PTC146805	Albatross Inland Ports Private Limited	Director	07-06-04	07-06-04	-	Active	NO
29	U63030MH2005PTC155498	Albatross Logistics Centre (India) Private Limited	Director	19-08-05	19-08-05	-	Active	NO
30	U63090MH2005PTC156248	TLPL Logistics Private Limited	Director	21-09-05	21-09-05	-	Active	NO
31	U74999KL2004PTC017443	India Gateway Terminal Private Limited	Nominee director	09-12-05	09-12-05	-	Active	NO
32	U63032MH2007PTC168115	United Arab Shipping Agency Company (India) Private Limited	Director	26-02-07	26-02-07	-	Active	NO
33	U92412MH2008NPL177582	Transworld Cultural And Sports Foundation	Director	08-01-08	08-01-08	-	Active	NO
34	U66010MH2007PLC167164	Idbi Federal Life Insurance Company Limited	Director	10-06-08	21-04-08	23-12-10	Active	NO
35	U28992MH2004PTC148047	Trident Terminals Private Limited	Director	19-06-09	30-12-08	-	Amalgamated	NO
36	U61200MH2010FTC200681	Misc Agencies India Private Limited	Director	09-03-10	09-03-10	-	Active	NO

Name :	Mr. Ramnarayan Varadharajan
Designation :	Director
Address :	Plot No. 3, Pop Co-Operative Housing Society, Versova Road, Andheri, Mumbai – 400 061, Maharashtra, India
Date of Birth/Age :	22.05.1949
Date of Appointment :	23.08.1996
DIN No.:	00057717

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	U35110MH1977PLC020050	Transworld Shipping And Logistics Limited	Director	31-12-77	31-12-77	-	Active	NO
2	U51100MH1980PLC022476	Haytrans (India) Limited	Director	23-04-80	23-04-80	-	Active	NO
3	U24239TN1985PTC067397	Transworld Pharma (Madras) Private Limited	Director	23-02-85	23-02-85	07-09-07	Active	NO
4	U63032MH1985PLC035913	Albatross Surveyors Limited	Director	11-04-85	11-04-85	-	Strike off	NO
5	U51900MH1985PTC037871	Trident Trading Private Limited	Director	28-10-85	28-10-85	-	Active	NO
6	L63000MH1988PLC048500	Shreyas Shipping And Logistics Limited	Whole-time director	13-01-09	16-08-88	-	Active	NO
7	U74999TN1989PTC018060	Transworld Gls (India) Private Limited	Director	15-09-89	15-09-89	-	Active	NO
8	U70101TN1990PTC019328	Sivaswamy Holdings Private Limited	Director	21-06-90	21-06-90	-	Active	NO
9	U63090TN1990PTC020008	Meridian Shipping Agency Private Limited	Director	12-12-90	12-12-90	-	Active	NO
10	U61100MH1991PTC060411	Clarion Solutions Private Limited	Director	21-02-91	21-02-91	-	Active	NO
11	U74140TN1992PTC022064	Transworld Management Consultancy Private Limited	Director	23-01-92	23-01-92	-	Active	NO
12	U63090MH1992PLC067211	Crescent Shipping Agency (India) Limited	Director	15-06-92	15-06-92	-	Active	NO
13	U67190MH1992PLC068968	Transcorp Finance Limited	Director	12-10-92	12-10-92	-	Active	NO
14	U71120TN1993PLC025476	Transworld Logistics Limited	Director	21-07-93	21-07-93	-	Active	NO
15	U63011MH1993PTC189147	Tlpl Shipping And Logistics Private Limited	Director	20-10-93	20-10-93	-	Active	NO
16	U61100MH1994PLC077152	Shreyas Relay Systems Limited	Whole-time director	13-01-09	17-03-94	-	Active	NO
17	U35110MH1994PLC077668	Admec Logistics Limited	Director	12-04-94	12-04-94	-	Active	NO
18	U67120MH1994PTC082742	Transcorp Securities Limited	Director	09-11-94	09-11-94	-	Strike off	NO
19	U45201TN1995PTC029951	Transworld Constructions Private Limited	Director	25-01-95	25-01-95	-	Strike off	NO
20	U63090MH1995PLC093446	Relay Shipping Agency Limited	Director	09-10-95	09-10-95	-	Active	NO
21	U40100MH1995PLC094819	Transworld Energies Limited	Director	28-11-95	28-11-95	-	Strike off	NO
22	U52599TN1996PTC035012	Tejas Oil Private Limited	Director	02-04-96	02-04-96	-	Active	NO
23	U15141TN1996PTC035272	Transworld Oil Private Limited	Director	22-04-96	22-04-96	-	Active	NO
24	U61000MH1996PLC102113	Albatross Shipping Limited	Director	23-08-96	23-08-96	-	Active	NO
25	U63090MH1998PLC115223	Orient Express Ship Management Limited	Director	04-06-98	04-06-98	-	Active	NO
26	U63090TN2002PTC048327	Crescent Take Global Supply Chain Private Limited	Director	23-01-02	23-01-02	-	Strike off	NO
27	U63032TN2004PTC052994	Cma Cgm East and South India Private Limited	Director	19-04-04	19-04-04	06-02-08	Active	NO
28	U63000MH2004PTC146805	Albatross Inland Ports Private Limited	Director	12-01-09	07-06-04	-	Active	NO
29	U63030MH2005PTC155498	Albatross Logistics Centre (India) Private Limited	Director	19-08-05	19-08-05	-	Active	NO
30	U63090MH2005PTC156248	Tlpl Logistics Private Limited	Director	21-09-05	21-09-05	-	Active	NO
31	U63032MH2007PTC168115	United Arab Shipping Agency Company (India) Private Limited	Director	26-02-07	26-02-07	29-06-09	Active	NO
32	U92412MH2008NPL177582	Transworld Cultural And Sports Foundation	Director	08-01-08	08-01-08	-	Active	NO
33	U28992MH2004PTC148047	Trident Terminals Private Limited	Managing director	19-06-09	30-12-08	-	Amalgamated	NO
34	U74999MH2009PTC192194	Brigantine Admec Container Services (India) Private Limited	Director	05-05-09	05-05-09	-	Active	NO
35	U61200MH2010FTC200681	Misc Agencies India Private Limited	Director	09-03-10	09-03-10	-	Active	NO
36	U60300AP2009PTC063864	Fleet Xchange Logistics Private Limited	Director	15-09-10	15-09-10	-	Active	NO
37	U91990MH1979GAP021664	Indian National Shipowners Association	Director	29-09-11	29-09-11	-	Active	NO

Name :	Mr. Mahesh Sivaswamy
Designation :	Director
Address :	Row House No. 11, Divya Sapna Co-Operative Housing Society, Dr. C Gidwani Road, Chembur (East), Mumbai – 400 074, Maharashtra, India
Date of Birth/Age :	25.07.1967
Date of Appointment :	23.08.1996
DIN No.:	00057683

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	U35110MH1977PLC020050	Transworld Shipping And Logistics Limited	Director	31-12-77	31-12-77	-	Active	NO
2	U51100MH1980PLC022476	Haytrans (India) Limited	Director	23-04-80	23-04-80	-	Active	NO
3	U24239TN1985PTC067397	Transworld Pharma (Madras) Private Limited	Director	23-02-85	23-02-85	07-09-07	Active	NO
4	U63032MH1985PLC035913	Albatross Surveyors Limited	Director	11-04-85	11-04-85	-	Strike off	NO
5	U51900MH1985PTC037871	Trident Trading Private Limited	Director	28-10-85	28-10-85	-	Active	NO
6	U74999TN1989PTC018060	Transworld Gls (India) Private Limited	Director	15-09-89	15-09-89	-	Active	NO
7	U70101TN1990PTC019328	Sivaswamy Holdings Private Limited	Director	21-06-90	21-06-90	-	Active	NO
8	U63090TN1990PTC020008	Meridian Shipping Agency Private Limited	Director	12-12-90	12-12-90	-	Active	NO
9	U61100MH1991PTC060411	Clarion Solutions Private Limited	Director	21-02-91	21-02-91	-	Active	NO
10	U74140TN1992PTC022064	Transworld Management Consultancy Private Limited	Director	23-01-92	23-01-92	-	Active	NO
11	U63090MH1992PLC067211	Crescent Shipping Agency (India) Limited	Whole-time director	01-12-07	15-06-92	-	Active	NO
12	U67190MH1992PLC068968	Transcorp Finance Limited	Director	12-10-92	12-10-92	-	Active	NO
13	U71120TN1993PLC025476	Transworld Logistics Limited	Director	21-07-93	21-07-93	-	Active	NO
14	L63000MH1988PLC048500	Shreyas Shipping And Logistics Limited	Director	27-09-93	27-09-93	-	Active	NO
15	U63011MH1993PTC189147	Tlpl Shipping and Logistics Private Limited	Director	20-10-93	20-10-93	-	Active	NO
16	U61100MH1994PLC077152	Shreyas Relay Systems Limited	Director	17-03-94	17-03-94	-	Active	NO
17	U35110MH1994PLC077668	Admec Logistics Limited	Director	12-04-94	12-04-94	-	Active	NO
18	U67120MH1994PTC082742	Transcorp Securities Limited	Director	09-11-94	09-11-94	-	Strike off	NO
19	U45201TN1995PTC029951	Transworld Constructions Private Limited	Director	25-01-95	25-01-95	-	Strike off	NO
20	U63090MH1995PLC093446	Relay Shipping Agency Limited	Director	09-10-95	09-10-95	-	Active	NO
21	U40100MH1995PLC094819	Transworld Energies Limited	Director	28-11-95	28-11-95	-	Strike off	NO
22	U52599TN1996PTC035012	Tejas Oil Private Limited	Director	02-04-96	02-04-96	-	Active	NO
23	U15141TN1996PTC035272	Transworld Oil Private Limited	Director	22-04-96	22-04-96	-	Active	NO
24	U61000MH1996PLC102113	Albatross Shipping Limited	Director	23-08-96	23-08-96	-	Active	NO
25	U63090MH1998PLC115223	Orient Express Ship Management Limited	Director	04-06-98	04-06-98	-	Active	NO
26	U63090TN2002PTC048327	Crescent Take Global Supply Chain Private Limited	Director	23-01-02	23-01-02	-	Strike off	NO
27	U63032TN2004PTC052994	Cma Cgm East and South India Private Limited	Director	19-04-04	19-04-04	06-02-08	Active	NO
28	U63000MH2004PTC146805	Albatross Inland Ports Private Limited	Managing director	13-01-09	07-06-04	-	Active	NO
29	U63030MH2005PTC155498	Albatross Logistics Centre (India) Private Limited	Director	19-08-05	19-08-05	-	Active	NO
30	U63090MH2005PTC156248	Tlpl Logistics Private Limited	Director	21-09-05	21-09-05	-	Active	NO
31	U92412MH2008NPL177582	Transworld Cultural And Sports Foundation	Director	08-01-08	08-01-08	-	Active	NO
32	U28992MH2004PTC148047	Trident Terminals Private Limited	Director	19-06-09	30-12-08	-	Amalgamated	NO
33	U74999MH2009PTC192194	Brigantine Admec Container Services (India) Private Limited	Director	25-10-10	19-05-09	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sanjay
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	No. of Shares
Ramakrishnan Sivaswamy	7500
Ramnarayan Varadharajan	7500
Mahesh Sivaswamy	7500
Ritesh Ramakrishnan	8750
Murli Mahesh	8750
Sivaswamy Holdings Private Limited, India	10000
Total	50000

As on 29.09.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	20.00
Directors or relatives of directors	80.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Services and Freight Forwarding Activity.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :	· AFL Private Limited · Daily Shipping Times · Sai Shipping Service · Shakti Enterprises · Sunny Roadlines Private Limited · Ganesh Gauri Roadways · Saicon Services · Relay Shipping Agency Limited · Admec Logistics Limited · Orient Box Movers Private Limited
No. of Employees :	160 (Approximately)
Bankers :	· Standard Chartered Bank 90, M G Road, Fort, Mumbai – 400 001, Maharashtra, India · Standard Chartered Bank, Govandi Branch, Mumbai, Maharashtra, India

Banking Relations :	--
Auditors :
Name :	K. L. Murty and Company Chartered Accountants
Address :	3/7/14A, Navjivan Commercial Society, Dr. Bhadkamkar Marg, Mumbai – 400 008, Maharashtra, India
PAN No.:	AAAPK9477B

CAPITAL STRUCTURE

As on 29.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.10/- each	Rs.0.500 million

As on 31.03.2011

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
50000	Equity Shares	Rs.10/- each	Rs.0.500 million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.500	0.500	0.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		47.973	48.438	42.920
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		48.473	48.938	43.420
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		48.473	48.938	43.420
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		12.855	11.672	12.535
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		29.492	21.882	20.404
DEFERREX TAX ASSETS		1.747	2.292	1.861
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	62.295	29.156	26.533
	Cash & Bank Balances	47.747	33.397	20.191
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	24.600	13.117	14.200
Total Current Assets		134.642	75.670	60.924
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	35.272	55.745	46.146
	Other Current Liabilities	84.856	1.167
	Provisions	10.135	5.666	6.158
Total Current Liabilities		130.263	62.578	52.304
Net Current Assets		4.379	13.092	8.620
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		48.473	48.938	43.420

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Agency Commission	17.501	12.990	28.525
		Other Income	102.346	91.694	103.827
		TOTAL	119.847	104.684	132.352
Less	EXPENSES
		Employee’s remuneration	57.950	52.232	51.375
		Administrative and other Expenses	41.226	35.567	36.905
		TOTAL	99.176	87.799	88.280
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		20.671	16.885	44.072
Less/ Add	DEPRECIATION/ AMORTISATION		3.249	2.759	3.350
	PROFIT/(LOSS) BEFORE TAX		17.422	14.126	40.722
Less	TAX		6.246	5.098	14.879
	PROFIT/(LOSS) AFTER TAX		11.176	9.028	25.843
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		43.250	38.635	21.225
Less	APPROPRIATIONS
		Interim Dividend Paid	5.000	3.000	5.000
		Tax on Interim Dividend	0.830	0.510	0.849
		Proposed Dividend	5.000	0.000	0.000
		Tax Provision on Proposed Dividend	0.811	0.000	0.000
		Transfer to General Reserve	1.118	0.903	2.584
	BALANCE CARRIED TO THE B/S		41.667	43.250	38.635
	Earnings Per Share (Rs.)		223.52	180.56	516.87

Expected Sales (2011-2012) : Rs.300.000 millions

The above information has been parted by Mr. Sanjay

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	9.33	8.62	19.53
Net Profit Margin (PBT/Sales)	(%)	99.55	108.75	142.76
Return on Total Assets (PBT/Total Assets}	(%)	11.81	16.17	55.44
Return on Investment (ROI) (PBT/Networth)		0.36	0.29	0.94
Debt Equity Ratio (Total Liability/Networth)		2.69	1.28	1.20
Current Ratio (Current Asset/Current Liability)		1.03	1.21	1.16

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS

Particulars	As on 31.03.2011 Rs. in millions	As on 31.03.2010 Rs. in millions	As on 31.03.2009 Rs. in millions
Voyage Creditors	12.261	33.058	46.146
Creditors for Expenses	23.011	22.687
Total	35.272	55.745	46.146

Sr. No.	Check List by Info Agents
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	--
8.	No. of employees	YES
9.	Name of person contacted	YES
10.	Designation of contact person	YES
11.	Turnover of firm for last one year	YES
12.	Profitability for last three years	--
13.	Reasons for variations <> 20%	--
14.	Estimation for coming financial year	YES
15.	Capital in the business	NO
16.	Details of sister concerns	--
17.	Major Suppliers	--
18.	Major Customers	--
19.	Payment terms	YES
20.	Export / Import details (is applicable)	--
21.	Market information	--
22.	Litigation that the firm / promoter involved in	--
23.	Banking Details	YES
24.	Banking facility details	--
25.	Conduct of the banking account	--
26.	Buyer visit details	--
27.	Financials, if provided	NO
28.	Incorporation details, if applicable	--
29.	Last accounts filed at ROC	--
30.	Major Shareholders, is available	--

BACKGROUND

Subject is in the business of run, operate, maintain charter, hire, lease or otherwise acquire, sell, exchange, trade or deal with ships, boats, tugs, vessels, trawiers, drifters, shipping lines, airways, railway and road transport agents, carriers of passengers, goods, merchandise, liquid gases, oil and mails.

REVIEW OF OPERATIONS

Further, the performance of the company has been remarkable, company has managed to increase export volumes considerably.

CONTINGENT LIABILITIES (As on 31.03.2011)

· Guarantees given by banks on behalf of Company Rs.0.300 million.

· Inter corporate guarantees given in favour of bank Rs.99.650 millions.

· Bonds issued to Custom Authorities on behalf of the Principals amount to Rs.634.664 millions.

FORM 8

Corporate identity number of the company	U61000MH1996PLC102113
Name of the company	ALBATROSS SHIPPING LIMITED
Address of the registered office or of the principal place of business in India of the company	4^th Floor, Geet Mala Building, Next to Shah, Industrial Estate, Deonar Village Road, Govandi (East), Mumbai – 400 088, Maharashtra, India
This form is for	Creation of charge
Type of charge	Book debts
Particular of charge holder	Standard Chartered Bank 90, M G Road, Fort, Mumbai – 400 001, Maharashtra, India E-Mail : reenabang@rediffmail.com
Nature of instrument creating charge	Memorandum of Hypothecation
Date of instrument Creating the charge	07.04.2008
Amount secured by the charge	Rs.0.350 million
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Non Funded Facilities. Interest / Commission - As agreed by and with the Bank from time to time. Terms of Repayment As agreed by and with the Bank from time to time. Margin As applicable, if any. Extent and Operation of the charge The Bank is having first charge on the security offered by the Company.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of all present and future book debts, outstanding moneys receivables, claims and bills.

FIXED ASSETS

· Furniture and Fixtures

· Office Equipments

· Computer

· Vehicles – Car

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.48.96
UK Pound	1	Rs.77.47
Euro	1	Rs.64.40

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	6
--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		47

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.