MIRA INFORM REPORT

Report Date :

29.06.2012

IDENTIFICATION DETAILS

Name :	ADITHYA FREIGHT FORWARDERS PRIVATE LIMITED
Registered Office :	58-C, Vishwaa Srivastaa, 1^st Street, Ram Nagar, North Extension- Madipakkam, Chennai-600 091, Tamil Nadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	02.06.2009
Com. Reg. No.:	18-071785
Capital Investment / Paid-up Capital :	Rs.0.500 Million
CIN No.: [Company Identification No.]	U63011TN2009PTC071785
TAN No.: [Tax Deduction & Collection Account No.]	CHEA15352B
PAN No.: [Permanent Account No.]	AAHCA7509C
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Service Provider of Shipping and Logistic
No. of Employees :	10 Approximately (in Office)

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Status :	Small Company
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a small company in its field. It scale of activities are limited. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

INFORMATION PARTED BY

Name :	Mrs. P. Shanti
Designation :	Director
Contact No.:	91-9003097090
Date :	02.06.2012

LOCATIONS

Registered Office :	58-C, Vishwaa Srivastaa, 1^st Street, Ram Nagar, North Extension- Madipakkam, Chennai-600 091, Tamil Nadu, India
Tel. No.:	91-44-42615956
Mobile No.:	91-9003097090 / 9841055633 / 9500037095 (Mrs. P. Shanti)
Fax No.:	91-44-22584530
E-Mail :	adithyaforwarder@vsnl.net shanthi@adithyaforwarder.com shantisarthy@vsnl.net
Website :	http://www.adithyaforwarder.com
Area :	1000 Sq.fts.
Location :	Owned

DIRECTORS

As on 30.09.2011

Name :

Mrs. Parthasarathy Shanti

Designation :

Director

Address :

No.58, Ramnagar- North Extension, I Street, Madipakkam, Chennai-600 091, Tamil Nadu, India

Date of Birth/Age :

15.05.1965

Date of Appointment :

02.06.2009

DIN No.:

01794227

Other Directorahip:

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	U63090TN2003PTC051222	NAVRANG LOGISTICS PRIVATE LIMITED	Director	16-07-03	16-07-03	13-11-08	Active	NO
2	U60232TN2006PTC061028	NAVRANG CONTAINER LINE PRIVATE LIMITED	Director	06-09-06	06-09-06	13-11-08	Active	NO
3	U05000TN2008PTC069607	HYAGREEVA LINES PRIVATE LIMITED	Additional director	20-05-09	20-05-09	24-02-12	Active	NO
4	U63011TN2009PTC071785	ADITHYA FREIGHT FORWARDERS PRIVATE LIMITED	Director	02-06-09	02-06-09	-	Active	NO

Name :

Mr. Tirumalai Krishnan

Designation :

Director

Address :

239, Bharathiyar Street, Madhavaram, Chennai-600 060, Tamil Nadu, India

Date of Birth/Age :

12.06.1980

Date of Appointment :

02.06.2009

DIN No.:

02319198

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	U05000TN2008PTC069607	HYAGREEVA LINES PRIVATE LIMITED	Director	21-10-08	21-10-08	-	Active	NO
2	U63011TN2009PTC071785	ADITHYA FREIGHT FORWARDERS PRIVATE LIMITED	Director	02-06-09	02-06-09	24-02-12	Active	NO

Name :

Mr. Ramchandran Sethuraman

Designation :

Director

Address :

002,Trimbhak Chhaya Housing Society, MIDC Road, Thakurli East, Dombivali, Thane-421 201, Maharashtra, India

Date of Birth/Age :

01.06.1967

Date of Appointment :

02.06.2009

DIN No.:

02332535

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	U05000TN2008PTC069607	HYAGREEVA LINES PRIVATE LIMITED	Director	21-10-08	21-10-08	-	Active	NO
2	U63011TN2009PTC071785	ADITHYA FREIGHT FORWARDERS PRIVATE LIMITED	Director	02-06-09	02-06-09	24-02-12	Active	NO

Name :

Mr. Kadathur Nagarajan Parthasarathi

Designation :

Director

Address :

No.58, Ram Nagar, North Extension, I Street, Madipakkam, Chennai-600 091, Tamil Nadu, India

Date of Birth/Age :

05.07.1964

Date of Appointment :

02.06.2009

DIN No.:

02641078

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Mrs. Parthasarathy Shanti	1250
Mr. Tirumalai Krishnan	1250
Mr. Ramchandran Sethuraman	1250
Mr. Kadathur Nagarajan Parthasarathi	1250
Total	5000

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader and Service Provider of Shipping and Logistic
Products and Services :	Ø International Freight Forwarding Ø Non-Vessel Operating Common Carrier (NVOCC) Operations Ø Custom Clearance Ø Warehousing And Distribution Ø Door Deliveries Ø Supply Chain Solution Ø Land Transport Ø Sea And Air Combined Transport Ø Trucking
Exports :
Products :	Shipping and Logistic
Countries :	Ø Canada Ø Australia Ø Malaysia Ø Colombo Ø Singapur
Imports :
Products :	Machinery Parts
Countries :	Ø China Ø Singapore Ø Germany Ø London
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

Suppliers :

Ø All Cargo Global Logistics

Ø Cargomen Logistics India Private Limited

Ø Elite Global

Ø Fine Worthengineers

Ø Hyagreeva Lines Private Limited

Ø La Freight Lift Private Limited

Ø MGR Container Line India Private Limited

Ø S. Pandey and Company

Ø Sri NVR Logistcs Private Limited

Ø Topmost Shipping Limited

Customers :

Wholesalers, Retailers, End Users and Corporate

Ø Royal Seema Alkalies

Ø Aquamarine Shipping Company Limited

Ø CMA CGM Agencies India Private Limited

Ø EMU Lines Private Limited

Ø ES Sundaram and Sons

Ø Global Freight System

Ø Hyagreeva Lines Private Limietd

Ø Manivel Transport

Ø Mansan Overseas

Ø S.M. Shipping

Ø Sun Logistic

Ø Surfine Tools

No. of Employees :

10 Approximately (In Office)

Bankers :

UCO Bank, Velachery Branch (Velach- 2089), 2A, 3rd Main Road, Dhandeeswaram Nagar, Velachery, Chennai - 600042, Tamil Nadu, India

Facilities :

CC: 2.000 Millions

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
UCO Bank Term Loan	0.105	0.318
Bank OD Account	1.378	0.726
Total	1.483	1.044
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Mrs. P. Shanti	0.017	0.031
Mr. K.N. Parthasarathy	0.016	0.017
Mr. T. Krishnan	0.017	0.016
Mr. R> Sethuraman	0.016	0.017
Total	0.066	0.081

Banking Relations :	--
Auditors :
Name :	Abraham Associates Chartered Accountant
Address :	F-1, Third Floor, Malli’s building No.262, (Old No.700), Annasalai, Chennai-600 006, Tamil Nadu, India
Tel. No.:	91-44-28297166
Fax No.:	91-44-42052928
PAN.:	ACTPN6796M
Associates/Subsidiaries :	Shree Ganesha Enterprises Address: 58-C, Vishwas Srivastaa, 1^st Street, Ram Nagar, North Extension- MadipakI, Chennai-600 091, Tamil Nadu, India Lione of Business: Trader and Service Provider of Shipping and Logistic

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares	Rs.100/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares	Rs.100/- 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
SHAREHOLDERS FUNDS
1] Share Capital		0.500	0.500
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		0.763	0.231
4] (Accumulated Losses)		0.000	0.000
NETWORTH		1.263	0.731
LOAN FUNDS
1] Secured Loans		1.483	1.044
2] Unsecured Loans		0.066	0.081
TOTAL BORROWING		1.549	1.125
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		2.812	1.856
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.492	0.553
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	2.566	1.659
	Cash & Bank Balances	0.066	0.129
	Other Current Assets	0.232	0.115
	Loans & Advances	0.050	0.000
Total Current Assets		2.914	1.903
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.548	0.562
	Other Current Liabilities	0.003	0.20
	Provisions	0.067	0.045
Total Current Liabilities		0.618	0.627
Net Current Assets		2.296	1.276
MISCELLANEOUS EXPENSES		0.024	0.027
TOTAL		2.812	1.856

PROFIT & LOSS ACCOUNT

Net Profit For the year 2011 is Rs.0.532 Million and for the year 2010 is Rs.0.231 Millions.

Particulars	31.03.2012	31.03.2011	31.03.2010
Sales Turnover (Approximately)	17.500	12.000	7.5000

Expected Sales (2012-13): Rs.25.000 Millions

The above information has been parted by Mrs. P. Shanti (Director).

KEY RATIOS

PARTICULARS	31.03.2011	31.03.2010
Debt Equity Ratio (Total Liability/Networth)	1.71	2.40
Current Ratio (Current Asset/Current Liability)	4.71	3.03

LOCAL AGENCY FURTHER INFORMATION

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 two years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	Yes
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter	--
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

Note: The registered office of the company has been shifted from No.55 and 56, Fifth Floor, BBC Villa Complex, No.65/33, Prakasam Salai, Broadway, Chennai-600 108, Tamil Nadu, India to the present address.

Trade Reference:

Royal Seema Alkalies

Bankers Charges Report as per Registry

Corporate identity number of the company	U63011TN2009PTC071785
Name of the company	ADITHYA FREIGHT FORWARDERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	New No.241, Old No.116, First Floor, Linghi Chetty Street, Chennai-600 001, Tamil Nadu, India Email: shantisarthy@vsnl.net
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge)
Particular of charge holder	UCO Bank, Velachery Branch (Velach- 2089), 2A, 3rd Main Road, Dhandeeswaram Nagar, Velachery, Chennai - 600042, Tamil Nadu, India Email: ucobank2008@bsnl.in
Nature of instrument creating charge	Agreement of Loan and Guarantee
Date of instrument Creating the charge	17.03.2011
Amount secured by the charge	Rs.1.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Base Rate + 3.50% Terms of Repayment CC on Demand Margin 25% present and in future as may be stipulated by bank from time to time Extent and Operation of the charge The Company hypothecates to and charges in favour of the Bank by way of first and exclusive charge of Stocks, Receivables, Book Debts and other Movable assets as security for the repayment/payment by the company of the loan granted or to be granted to the company by the Bank together with all fees, interest, costs and expenses incurred/to be incurred by the Bank and all other monies payable or to become payable by the company to the Bank Others A Collateral EM of Land and Building in the name of Mr. T Krishnan (Director) at 23C, Pukuraj Nagar, 6th Street,(Bharathi Street) Madavaram, Chennai - 600 060 valued at 24.89, A Collateral EM of Residential Flat in the Name of P. Shanthi (Director) at Flat No. C First Floor, Sivaprakasam Nagar Extension, Ram Nagar North Madipakkam, Chennai - 600 091 (Undivided Share 745 Sq.Ft) valued at 27.94 Loan documents executed on 17.02.2011 but loan was disabused on 17.03.2011 only since charge
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Stocks, Receivables, Book Debts and other Movable assets

FIXED ASSETS:

Ø Furniture and Fixtures

Ø Computer

Ø Water Dispenser

Ø Container Purchase

COMPANY DETAILS:

The subject provide unmatched and customised services as leading freight forwarder and handle the export or import to the satisfaction core of the customers. They are trusted for their reliable and immediate services. The range of services includes International Freight Forwarding, Export Air Freight and Sea Freight, Door Deliveries, Custom Clearance, Supply Chain Solution, Land Transportation and many more. These services are offered by their diligent professionals, who provide feasible and logical solutions to the clients as per their specifications. Also, they take into account the nature and material of products while suggesting a solution. Furthermore, the team of packaging experts use ultra-modern machines installed in their warehouse, for tamper-proof packaging. They take extreme care while selecting appropriate material for reliable and safe packaging. Besides, they are associated with some of the most reputed shipping agencies trusted for their timely deliveries and negotiable prices.

They are Members of proud and world renowned networks such as IATA, WCA, DGLA, IGLN, JCTRANS, FIATA

COMPANY PROFILE:

We are amongst the prestigious service providers in the domain of freight services. Our services include International Freight Forwarding, Non-Vessel Operating Common Carrier (NVOCC) Operations, Custom Clearance, Warehousing And Distribution, Door Deliveries, Supply Chain Solution, Land Transport, Sea And Air Combined Transport, Trucking. We have a team of diligent professionals, who provide feasible solutions to the clients after analyzing their needs and requirements. They are equipped with ultra modern packaging machines and wide network of transporters to provide unmatched quality services in this domain.

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 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.56.91
UK Pound	1	Rs.88.90
Euro	1	Rs.71.24

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	DPTP

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--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
TOTAL		30

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.