MIRA INFORM REPORT

Report Date :

06.07.2013

IDENTIFICATION DETAILS

Name :	MFC TRANSPORT PRIVATE LIMITED
Registered Office :	M/2, Doshi Chambers, Mezzanie Floor, Poona Street, Masjid, Mumbai – 400009, Maharashtra
Country :	India
Financials (as on) :	31.03.2012 [Profit and Loss Account]
Date of Incorporation :	28.12.2001
Com. Reg. No.:	11-134354
Capital Investment / Paid-up Capital :	Rs. 12.395 Millions
CIN No.: [Company Identification No.]	U63090MH2001PTC134354
TAN No.: [Tax Deduction & Collection Account No.]	MUMM25256A
PAN No.: [Permanent Account No.]	AADCM1748H
Legal Form :	Private Limited Liability Company
Line of Business :	Providing Transport Services.
No. of Employees :	200 (Approximately)

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 578600
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered for normal 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	ICRA has suspended its rating BBB due to lack of information.
Date	February 2012

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Rahul Sharma
Designation :	Finance Department
Contact No.:	91-22-28795577
Date :	06.07.2013

LOCATIONS

Registered Office :	M/2, Doshi Chambers, Mezzanie Floor, Poona Street, Masjid, Mumbai – 400009, Maharashtra, India
Tel. No.:	91-22-28795577/ 23717856
Fax No.:	91-22-28795509
E-Mail :	mukesh@mfctransport.com rahul.sharma@mfctransport.com
Website :	www.mfctransport.com
Location :	Owned
Corporate Office :	1201, 12th Floor, DLH Corporate Park, S. V. Road, Goregaon [West], Mumbai - 400062, Maharashtra, India
Tel. No.:	91-22-28795577
Fax No.:	91-22-28795509
E-Mail :	mfc@mfctransport.com
Branch Offices :	Located at: Ø Ahmedabad Ø Barmer Ø Cochin Ø Guwahati Ø Indore Ø Kakinada Ø Masjid Bunder Ø Nagpur Ø Ranchi Ø Tuticorin Ø Bangalore Ø Bokaro Ø Coimbatore Ø Gandhidham Ø Jaipur Ø Kandla Ø Mumbai Ø Pune Ø Ranipet Ø Trichy Ø Baroda Ø Bhubneshwar Ø Delhi Ø Haridwar Ø Jhansi Ø Kolkata Ø Mysor Ø Raipur Ø Rudrapur Ø Vapi Ø Bhopal Ø Chennai Ø Gurgaon Ø Hyderabad Ø Kalamboli Ø Mangalore Ø Nasik Ø Raigarh Ø Surat Ø Vizag

DIRECTORS

AS ON 30.09.2012

Name :

Mr. Rajesh Suresh Agarwal

Designation :

Director

Address :

1501-1502, Swapnalok CHS, Marve Road, Mumbai – 400064, Maharashtra, India

Date of Birth/Age :

23.09.1972

Date of Appointment :

28.12.2001

PAN No.:

ACUPA5776H

DIN No.:

00212106

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	Company/ LLP Status	Defaulting status
1	U63090MH2001PTC134354	MFC TRANSPORT PRIVATE LIMITED	Director	28/12/2001	28/12/2001	Active	NO
2	U63000MH2009PTC194525	CENTRANS LOGISTICS PRIVATE LIMITED	Director	01/08/2009	01/08/2009	Active	NO
3	U01500MH2011PTC225235	SRA FARMS PRIVATE LIMITED	Director	21/12/2011	21/12/2011	Active	NO

Name :

Mr. Mukesh Suresh Agarwal

Designation :

Director

Address :

1501-1502, Swapnalok CHS, Marve Road, Mumbai – 400064, Maharashtra, India

Date of Birth/Age :

01.01.1974

Date of Appointment :

28.12.2001

PAN No.:

AEPPM9949D

DIN No.:

00211703

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	Company/ LLP Status	Defaulting status
1	U63090MH2001PTC134354	MFC TRANSPORT PRIVATE LIMITED	Director	28/12/2001	28/12/2001	Active	NO
2	U63000MH2009PTC194525	CENTRANS LOGISTICS PRIVATE LIMITED	Director	01/08/2009	01/08/2009	Active	NO
3	U01500MH2011PTC225235	SRA FARMS PRIVATE LIMITED	Director	21/12/2011	21/12/2011	Active	NO

Name :

Mr. Pawan Suresh Agarwal

Designation :

Director

Address :

1501-1502, Swapnalok CHS, Marve Road, Mumbai – 400064, Maharashtra, India

Date of Birth/Age :

25.11.1976

Date of Appointment :

28.12.2001

PAN No.:

ACWPA2112K

DIN No.:

00212033

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	Company/ LLP Status	Defaulting status
1	U63090MH2001PTC134354	MFC TRANSPORT PRIVATE LIMITED	Director	28/12/2001	28/12/2001	Active	NO
2	U63000MH2009PTC194525	CENTRANS LOGISTICS PRIVATE LIMITED	Director	01/08/2009	01/08/2009	Active	NO
3	U01500MH2011PTC225235	SRA FARMS PRIVATE LIMITED	Director	21/12/2011	21/12/2011	Active	NO

Name :

Mr. Yogesh Sushil Lohia

Designation :

Additional director

Address :

2b/33, Manali Evershine Nagar, Malad (West), Mumbai – 400064, Maharashtra, India

Date of Birth/Age :

18.08.1978

Date of Appointment :

09.02.2012

DIN No.:

02010829

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	Company/ LLP Status	Defaulting status
1	U63010MH2004PTC148796	ANIKET CLEARING AND FORWARDING PRIVATE LIMITED	Additional director	25/01/2008	25/01/2008	Active	NO
2	U63090MH2001PTC134354	MFC TRANSPORT PRIVATE LIMITED	Additional director	09/02/2012	09/02/2012	Active	NO

Name :

Mrs. Chandrakala Sureshchandra Agarwal

Designation :

Director

Address :

1502 Swapnalok CHS Limited, 70 Marve Road, Malad [West], Mumbai -400064, Maharashtra, India

Date of Birth/Age :

01.04.1951

Date of Appointment :

20.08.2012

PAN No.:

ACVPA2751M

DIN No.:

05348363

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	Company/ LLP Status	Defaulting status
1	U63090MH2001PTC134354	MFC TRANSPORT PRIVATE LIMITED	Director	20/08/2012	06/08/2012	Active	NO

KEY EXECUTIVES

Name :	Mr. Rahul Sharma
Designation :	Finance Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2012

Names of Shareholders	No. of Shares
Anju Rajesh Agarwal	55000
Chandrakala Sureshchandra Agarwal	380000
Ekta Pawan Agarwal	54000
Manvi Mukesh Agarwal	55000
Mukesh Sureshchandra Agarwal	148000
Mukesh Agarwal HUF	67500
Pawan Sureshchandra Agarwal	148000
Pawan Agarwal HUF	67500
Rajesh Sureshchandra Agarwal	148000
Rajesh Agarwal HUF	67500
Suresh Agarwal HUF	49000
Total	1239500

AS ON 30.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing Transport Services.

Products/ Services :

ITC Code No.	Product Descriptions
63	Transportation and Logistics Services

Terms :

Selling :

Credit and Depend

Purchasing :

Credit and Depend

GENERAL INFORMATION

Customers :

Others

Ø BHEL

Ø Thermax

Ø HAL

Ø L and T

Ø Tata

Ø Transformers and Electricals Kerala Limited

Ø Vijai Electricals Limited

Ø Gammon

Ø ABB

Ø ABG

Ø Siemens

Ø Punj Lloyd

No. of Employees :

200 (Approximately)

Bankers :

Ø Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

Ø Union Bank of India, Sant Tukaram Road Branch, Apeejay Surendra, 24, Kranti Singh Nana Patil Marg, Baroda Street, Mumbai - 400009, Maharashtra, India

Ø ING Vysya Bank Limited, 382/384, Narasinatha Street, Katha Bazar, Mandvi (West), Mumbai - 400009, Maharashtra, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Working capital loans others secured	238.866	171.097
Loans taken for vehicles secured	106.871	5.122
Loans taken for other fixed assets secured	24.252	30.089
Total	369.989	206.308

Banking Relations :	--
Auditors :
Name :	R.S. Sharma and Company Chartered Accountants
Address :	103/107, Apollo Arcade, R.K. Singh Marg, Andheri (East) Mumbai-400069, Maharashtra, India
Tel No.:	91-22-28240947/ 28240468/ 42117000/ 42117900
Fax No.:	91-22-66990031
Email :	sharmaca34@yahoo.com
Income-tax PAN of auditor or auditor's firm :	AHYPS3673E
Subsidiaries :	Centrans Logistics Private Limited [U63000MH2009PTC194525]

CAPITAL STRUCTURE

AS ON 30.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
2,000,000	Equity Shares	Rs. 10/- each	Rs. 20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,239,500	Equity Shares	Rs. 10/- each	Rs. 12.395 Millions

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		12.395	12.395
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		132.253	103.137
4] (Accumulated Losses)		0.000	0.000
NETWORTH		144.648	115.532
LOAN FUNDS
1] Secured Loans		369.989	206.308
2] Unsecured Loans		51.994	28.092
TOTAL BORROWING		421.983	234.400
DEFERRED TAX LIABILITIES		11.209	5.272
TOTAL		577.840	355.204
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		160.862	96.672
Capital work-in-progress		0.000	0.000
INVESTMENT		5.894	5.580
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	388.897	270.550
	Cash & Bank Balances	10.373	7.086
	Other Current Assets	0.000	0.000
	Loans & Advances	121.000	65.611
Total Current Assets		520.270	343.247
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	78.981	62.729
	Other Current Liabilities	4.644	2.076
	Provisions	25.566	25.500
Total Current Liabilities		109.191	90.305
Net Current Assets		411.079	252.942
MISCELLANEOUS EXPENSES		0.005	0.010
TOTAL		577.840	355.204

Note: Balance Sheet Statement for the year 2012 is not available only Profit and Loss account is available.

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Service Revenue	1129.060	1226.141	1234.818
		Other Income	NA	NA	1.621
		TOTAL (A)	NA	NA	1236.439
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	NA	NA	1131.308
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)				105.131
Less	FINANCIAL EXPENSES (D)				23.154
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)				81.977
Less/ Add	DEPRECIATION/ AMORTISATION (F)				6.595
	PROFIT BEFORE TAX (E-F) (G)		39.676	88.898	75.382
Less	TAX (H)		13.311	NA	(27.754)
	PROFIT AFTER TAX (G-H) (I)		26.365	NA	103.136
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	NA	2.484	NA
	Earnings Per Share (Rs.)		21.27	NA	83.21

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	NA	8.34
Net Profit Margin (PBT/Sales)	(%)	3.51	7.25	6.10
Return on Total Assets (PBT/Total Assets}	(%)	NA	13.05	17.14
Return on Investment (ROI) (PBT/Networth)		NA	0.61	0.65
Debt Equity Ratio (Total Debt/Networth)		NA	2.92	2.03
Current Ratio (Current Asset/Current Liability)		NA	4.76	3.80

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
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	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOANS

Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee term loans banks unsecured	28.236	9.796
Rupee term loans financial institutions unsecured	6.947	1.647
Loans directors unsecured	0.004	1.368
Other debt unsecured	16.807	15.281
Total	51.994	28.092

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U63090MH2001PTC134354
Name of the company	MFC TRANSPORT PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	M/2, Doshi Chambers, Mezzanie Floor, Poona Street, Masjid, Mumbai – 400009, Maharashtra, India Email: mukesh@mfctransport.com
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	ING Vysya Bank Limited, 382/384, Narasinatha Street, Katha Bazar, Mandvi (West), Mumbai - 400009, Maharashtra, India Email: vlaxmancrc@gmail.com CIN No.: L85110KA1930PLC000124
Nature of description of the instrument creating or modifying the charge	A] Facility Agreement. B] Deed of General Hypothecation [No - 1] (Collectively constitute a single charge).
Date of instrument Creating the charge	23.03.2013
Amount secured by the charge	Rs. 30.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest LAP-TL : IVBR + 1.80% p. a (present IVBR being 10.45% pa). Terms of Repayment LAP-TL : Monthly Installments of INR 3.125 Lacs per month (96 Monthly Instalments) Margin LAP-TL : NA Extent and Operation of the charge First charge in favour of the Bank on Hypothecated Assets of the Company
Short particulars of the property charged	Hypothecation of Stock and Book Debts and Movable Fixed present and future Fixed Assets.

FIXED ASSETS:

Ø Land

Ø Office Building

Ø Factory building

Ø Plant and machinery

Ø Office equipments

Ø Factory equipments

Ø Computer equipments

Ø Furniture and fixtures

Ø Vehicles

Ø Livestock

Ø Railway sidings

Ø Plantations

Ø Knowhow

Ø Computer software

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 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. 60.34
UK Pound	1	Rs. 90.79
Euro	1	Rs. 77.81

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	BVA

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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
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.