MIRA INFORM REPORT

Report Date :

08.05.2012

IDENTIFICATION DETAILS

Name :	IMAGE LOGISTICS PRIVATE LIMITED
Registered Office :	Plot No.60-62, Block A, Khasra No-419-420, Westend Green, Rangpuri Extent, New Delhi – 110037
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	10.11.2005
Com. Reg. No.:	55-142446
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U60231DL2005PTC142446
TAN No.: [Tax Deduction & Collection Account No.]	DELI06157E
PAN No.: [Permanent Account No.]	AABCI4376H
Legal Form :	Private Limited Liability Company
Line of Business :	Providing Service like Freight Forwarding, Customs Handling, Logistics Management and Consolidations.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 19000
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 are reported to be usually correct and as per commitments. However, it would be advisable to take adequate securities while dealing with the subject.

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 :	Mr. Amit Kumar Chakrabarty
Designation :	Director
Contact No.:	91-9312220151
Date :	20.04.2012

LOCATIONS

Registered Office :	Plot No.60-62, Block A, Khasra No-419-420, Westend Green, Rangpuri Extent, New Delhi – 110037, India
Tel. No.:	91-11-47301100-15
Mobile No.:	91-9312220151 (Mr. Amit Kumar Chakrabarty)
Fax No.:	91-11-43851046
E-Mail :	amit@ilplindia.in ca.anllbhatt@gmail.com
Website :	www.ilplindia.in
Location :	Owned
Branch Office :	Located At Chennai Mumbai  Kolkata
Overseas Office :	Located At Hong Kong

DIRECTORS

As on 30.09.2011

Name :

Mr. Amit Kumar Chakrabarty

Designation :

Director

Address :

Q Extension 30, Phase – 1, New Palam Vihar, Gurgaon – 122017, Haryana, India

Date of Birth/Age :

31.03.1979

Qualification :

MCA

Date of Appointment :

10.11.2005

DIN No.:

01311368

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	U60231DL2005PTC142446	IMAGE LOGISTICS PRIVATE LIMITED	Director	10/11/2005	10/11/2005	-	Active	NO
2	U51109DL2008PTC173316	INSTANT OVERSEAS TRADING PRIVATE LIMITED	Director	29/01/2008	29/01/2008	1/3/2011	Active	NO

Name :

Mrs. Sima Chakraborty

Designation :

Director

Address :

Q Extension 30, Phase – 1, New Palam Vihar, Gurgaon – 122017, Haryana, India

Date of Birth/Age :

04.07.1959

Qualification :

Under Graduate

Date of Appointment :

08.12.2006

DIN No.:

01787262

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Amit Kumar Chakrabarty	5000
Sima Chakrabarty	5000
Total	10000

As on 30.09.2011

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 :	Providing Service like Freight Forwarding, Customs Handling, Logistics Management and Consolidations.
Products :	· Subject offer a wide spectrum of solutions to the clients that range from Freight, Forwarding, Customs Handling, Logistics Management and Consolidations. · Air Freight - Export and Import consolidation · Sea Freight - Export and Import consolidation · Multi-modal transportation: Door-Door/Air-Sea/Sea-Air · International Freight Management Services · Warehousing and Distribution · Quality Assurance and Inspection · Door Delivery and Pickup from any point in India to any destination in the world and vice versa.
Terms :
Selling :	Cash / Credit (30 Days / 60 Days)
Purchasing :	Cash / Credit (30 Days / 60 Days)

GENERAL INFORMATION

Suppliers :

· Aay Kay Impex

· Airmark Freight Services- Singapore

· ACAS Shipping Agency A D Technology

· AFS Logislics International Private Limited

· All the way express Limited- HKG

· All The Way Express Taiwan

· All The Way Express (Taiwan) Company Limited

· All The Way Express Limited - CR

· All The way Express (Tiwan) Company Limited - CR

· Allcargo Global Logistics Limited

· Any Time Printers

· AUM International Freight Movers

· Blue Bird Cargo Private Limited

· Blue Marine Shipping Agencies

· Blue Freight Service GMBH CR

· Cargo Planners Limited

· China Shipping India Private Limited

· Clear Freight USA

· CMA CGM Global India Private Limited

· Complete Forwarders Private Limited

· CP World Lines Private Limited

· Crown Logistics

· Dileep Kumar Thakur

· East West Freight Carriers Private Limited

· Eastern International Inc (10-12)

· Exim Multimedia (India) Private Limited

· Getway Media Private Limited

· Globle Cargo INTL. FO

· Glorious Shipping LLC

· Handicrafts India Year Book

· Housing Intl Transport Company Limited

· IC Mishra

· Indair Carrier Private Limited

· Inter World Cargo Care Private Limited

· Intel Express Cargo

· Integrated Freight Services

· J. M D Cargo Private Limited

· JJB Link Logistics company Limited

Customers :

Corporate

· A G Engineers

· Aapeejay Surrendra

· ABB Limited

· AG Belling Private Limited

· Allcargo Global Logistics Limited

· Amount Software and Equipment Private Limited

· Apex Intnl

· AP Hosiery Industries

· APL Logistics (India) Private Limited

· Aquarius Maritime Private Limited

· Asian Watch Hands

· Bharti Linkers

· Biiton Export Private Limited

· Binary Apparel Tecknics India Private Limited

· 8inex Line Corp – Dr

· Blue Freight Services GMBH

· Blue Freight Services GMBH - Dr

· Bright Point India Private Limited

· Caldron Graphics

· Caldron Impex Private Limited

· Cailmate India Private Limited

· Cermet Resistronics

· Cerniica Industries

· Complete Forwarders Private Limited

· Danisco India Private Limited

· Decent Logistics India

· Durga Das Publication Private Limited

· Devender Sharma

· Eikay Telelinks Limited

· Eurolink

· Fitline Sports

· Fitness Live

· Fitness Leve

· Future Talk

· Galaxy Printers

· Geoid Logistics

· Green Fiesta Private Limited

· Golden Pharaoh Logistics Co Dr

· Haier Appliances (India) Private Limited

· Halonix Limited

No. of Employees :

25 (Approximately)

Bankers :

· Corporation Bank, Mata Chowk, Mahipal Pur, New Delhi - 110037, Delhi, India

· ICICI Bank, Vasant Vihar, C Block Market, New Delhi, India

· IDBI Bank, Mahipalpur, New Delhi

· HDFC Bank, Vasant Vihar, D Block Market, New Delhi, India

· Corporation Bank

· Standard Chartered Bank

· ABN Amro Bank

· Barclays Bank

· Kotak Mahindra Bank

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
HDFC Car Loan Alto	0.244	0.000
HDFC Car Loan Aria	0.876	0.000
Total	1.120	0.000
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
ABN Amro Bank	0.504	0.736
Barclays Bank	0.507	1.142
Citi Financial	0.449	0.600
Kotak Mahindra Bank	0.211	0.487
Magma Fincorp Limited	1.281	0.000
Religare Finvest Limited	1.246	0.000
Standard Chartered Bank	0.689	1.171
OD A/c No.054705000188	0.000	0.757
Total	4.887	4.893

Banking Relations :	--
Auditors :
Name :	Krishna Anurag and Company Chartered Accountants
Address :	153D, DDA Flats, Jhilmil, Vivek Vihar, Delhi – 110095, India
PAN.:	AAEFK8125C
Associates :	Image Logistics (H,K) Company Limited

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital : Rs.1.000 Million

Issued, Subscribed & Paid-up Capital : Rs.1.000 Million

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 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		0.100	0.100	0.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		4.785	2.846	1.030
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		4.885	2.946	1.130
LOAN FUNDS
1] Secured Loans		1.120	0.000	0.000
2] Unsecured Loans		4.887	4.893	4.060
TOTAL BORROWING		6.007	4.893	4.060
DEFERRED TAX LIABILITIES		0.012	0.000	0.000
TOTAL		10.904	7.839	5.190
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2.523	0.612	0.727
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.011	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	18.722	12.047	7.566
	Cash & Bank Balances	3.221	1.533	0.772
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	5.422	6.275	3.513
Total Current Assets		27.365	19.855	11.851
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	16.379	11.560	7.128
	Other Current Liabilities	1.232	0.222	0.227
	Provisions	0.879	0.864	0.041
Total Current Liabilities		18.990	12.646	7.396
Net Current Assets		8.375	7.209	4.455
MISCELLANEOUS EXPENSES		0.006	0.007	0.008
TOTAL		10.904	7.839	5.190

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	101.396	90.849	70.834
		Other Income	2.255	2.036	0.441
		TOTAL	103.651	92.885	71.275
Less	EXPENSES
		Freight, Shipping Line and Other Charges	88.026	81.956	62.669
		Pickup & Delivery	0.580	0.000	0.000
		Commission Expenses	0.553	0.000	0.902
		Director Remuneration	2.400	0.770	0.802
		Office Rent	0.556	0.431	0.497
		Salary	2.595	2.282	2.033
		Tour & Travels – International	0.664	0.104	0.211
		Other Expenses	5.232	4.547	3.834
		TOTAL	100.606	90.090	70.948
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		3.045	2.795	0.327
Less/ Add	DEPRECIATION/ AMORTISATION		0.205	0.167	0.194
	PROFIT BEFORE TAX		2.840	2.628	0.133
Less	TAX		0.890	0.812	0.041
	PROFIT AFTER TAX		1.950	1.816	0.092
	BALANCE CARRIED TO THE B/S		1.950	1.816	0.092
	Earnings Per Share (Rs.)		1950	13.30	NA

Particulars	31.03.2012
Sales Turnover (Approximately)	127.500

Expected Sales ( 2012-13) : Rs.150.000 Millions

The above information has been parted by Mr. Amit Kumar Chakrabarty

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.88	1.96	0.13
Net Profit Margin (PBT/Sales)	(%)	2.80	2.89	0.19
Return on Total Assets (PBT/Total Assets}	(%)	9.50	12.84	1.05
Return on Investment (ROI) (PBT/Networth)		0.58	0.89	0.12
Debt Equity Ratio (Total Liability/Networth)		5.12	5.95	10.14
Current Ratio (Current Asset/Current Liability)		1.44	1.57	1.60

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	No
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	Yes
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	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)	No
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 847/3 [Opposite JMD Cargo Private Limited], Mata Chowk, Vasant Kunj Road, Mahipalpur, New Delhi – 110037, India to present address w.e.f. 01.11.2011

WORKING AND FINANCIAL Results

During the year the company was in the process to obtain the contracts of import and Started the Business of the import and in the process of obtain the business of Export as well as Import so that company will Started full capacity of expertise of the director and its resources. Company is in the process to appoint agents in different county to execute the business and expand the business and make proper platform to execute the work. Current year Company doing good Business earn good profit .Directors arc full effort to grow the company and establish good market reputation. Directors arc hopefully that coming Year Company achieve good transaction and profit as well.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U60231DL2005PTC142446
Name of the company	IMAGE LOGISTICS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	847/2 [Opposite JMD Cargo [Private] Limited], Mata Chowk, Vasant Kunj Road, Mahipalpur, New Delhi – 110037, India caanilrenu@gmail.com
This form is for	Creation of Charge
Type of charge	Others (All Fixed, Current and Future Assets)
Particular of charge holder	Corporation Bank, Mata Chowk, Mahipal Pur, New Delhi - 110037, Delhi, India caanilrenu@gmail.com
Nature of instrument creating charge	Common Deep of hypothecation of Movables / Assets / Debts
Date of instrument Creating the charge	07.07.2011
Amount secured by the charge	Rs.5.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 15% P.A. Terms of Repayment Running Account Repayable on Demand Extent and Operation of the charge Full and to Rs.5.000 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	All Fixed, Current, Future and present Assets of the company

FIXED ASSETS:

§ Air Conditioner

§ Computer

§ Furniture and Fixture

§ Invertor

§ Mobile

§ Motor Cycle

§ Motor 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.53.34
UK Pound	1	Rs.86.09
Euro	1	Rs.69.37

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
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		44

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.