MIRA INFORM REPORT

Report No. :	302726
Report Date :	14.01.2015

IDENTIFICATION DETAILS

Name :	CHARLIE FREIGHT SYSTEMS PRIVATE LIMITED
Registered Office :	306, Ansal Majestic Tower, ‘G’ Block Community Centre, Vikas Puri, New Delhi – 110018,
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	29.07.2011
Com. Reg. No.:	55-223024
Capital Investment / Paid-up Capital :	Rs. 0.100 Million
CIN No.: [Company Identification No.]	U63000DL2011PTC223024
TAN No.: [Tax Deduction & Collection Account No.]	DELC12494G
PAN No.: [Permanent Account No.]	AAECC4824B
Legal Form :	Private Limited Liability Company
Line of Business :	Providing Freight Forwarding Services.
No. of Employees :	15 (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 9000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company is normal and acceptable for business dealings. Trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. 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.

ECGC Country Risk Classification List – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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

NOT AVAILABLE

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 31-03-2014.

INFORMATION PARTED BY (PARTIAL DETAILS)

Name :	Mr. Navin
Designation :	Accounts Officer
Contact No.:	91-11-49581100
Date :	13.01.2015

LOCATIONS

Registered Office :	306, Ansal Majestic Tower, ‘G’ Block Community Centre, Vikas Puri, New Delhi – 110018, India
Tel. No.:	91-11-45548476
Fax No.:	91-11-45548477
E-Mail :	info@charliefreightsystems.com ceo@charliefreightsystems.com chennai@charliefreightsystems.com hyderabad@charliefreightsystems.com bangalore@charliefreightsystems.com kolkata@charliefreightsystems.com
Website :	www.charliefreightsystems.com
Head Office:	C-252, 1^st Floor, Block-A, Road No. 6, Mahipalpur Extn, New Delhi – 110037, India
Tel. No.:	91-11-49581100
Fax No.:	91-11-45548477
E-Mail :	info@charliefreightsystems.com
Branch Office :	Located at · Chennai · Hyderabad · Bangalore · Kolkata · Pune

DIRECTORS

As on 26.09.2014

Name :

Mr. Pawan Thapliyal

Designation :

Director

Address :

7, Bharat Apartment, Plot No 20, Sector 13, Rohini, Delhi – 110085, India

Date of Birth/Age :

06.11.1967

Date of Appointment :

29.07.2011

DIN No. :

00104922

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	U63013DL1999PTC101681	DEXTROUS EXIM SERVICES PRIVATE LIMITED	Director	23-09-1999	23-09-1999	Active	NO
2	U63000DL2011PTC223024	CHARLIE FREIGHT SYSTEMS PRIVATE LIMITED	Director	29-07-2011	29-07-2011	Active	NO

Name :

Ritu Thapliyal

Designation :

Director

Address :

7, Bharat Apartment, Plot No 20, Sector 13, Rohini, Delhi – 110085, India

Date of Birth/Age :

09.04.1969

Date of Appointment :

29.07.2011

DIN No. :

01288702

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	U63013DL1999PTC101681	DEXTROUS EXIM SERVICES PRIVATE LIMITED	Director	05-01-2007	05-01-2007	Active	NO
2	U63000DL2011PTC223024	CHARLIE FREIGHT SYSTEMS PRIVATE LIMITED	Director	29-07-2011	29-07-2011	Active	NO

Name :

Mr. Ujjwal Bhagat

Designation :

Whole-Time Director

Address :

B3/7 B, Keshav Puram, Delhi – 110035, India

Date of Birth/Age :

11.07.1974

Date of Appointment :

15.03.2012

DIN No.:

05232547

Name :

Mr. Navneet Trikha

Designation :

Whole-Time Director

Address :

Flat No. 206, Tower 9, Valley View Estate, Gurgaon Faridabad Road, Gurgaon – 122002, Haryana, India

Date of Birth/Age :

07.09.1974

Date of Appointment :

15.03.2012

DIN No.:

05241939

KEY EXECUTIVES

Name :	Mr. Navin
Designation :	Accounts Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Pawan Thapliyal	9900	99.00
Ritu Thapliyal	100	1.00
Total	10000	100.00

As on 26.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Providing Freight Forwarding Services.
Exports :	--
Imports :	--
Terms :	--

PRODUCTION STATUS: NOT DIVULGED

GENERAL INFORMATION

Suppliers :

Reference:	NOT DIVULGED
Name of the Person (with Designation):
Contact Number:
Since How Long Known:
Maximum Limit Dealt:
Experience :
Remarks :

Customers :

Reference:	NOT DIVULGED
Name of the Person (with Designation):
Contact Number:
Since How Long Known:
Maximum Limit Dealt:
Experience :
Remarks :

No. of Employees :

15 (Approximately)

Bankers :

Bank Name:	NOT DIVULGED
Branch:
Name of the Person (with Designation):
Contact Number:
Name of Account Holder:
Account Number:
Account Since (Date/ Year of A/c Opening):
Average Balance Maintained (Optional):
Credit Facilities Enjoyed (CC/OD/Term Loan):
Account Operation:
Remarks:

Auditors :
Name :	P.K. Arora and Company Chartered Accountants
Address :	C-55, LGF, Jangpura Extension, New Delhi – 110014, India
Tel. No. :	91-11-24316003 / 24316007
Mobile No. :	91-9810005477
E-Mail :	parveshfca@gmail.com
Income-tax PAN of auditor or auditor's firm :	AAAPA1853F
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

As on 26.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.10/- each	Rs. 0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100	0.100	0.100
(b) Reserves & Surplus	3.077	2.154	0.935
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	3.177	2.254	1.035
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.037	0.031	0.035
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	0.037	0.031	0.035
(4) Current Liabilities
(a) Short term borrowings	1.172	3.812	3.974
(b) Trade payables	13.890	17.728	36.071
(c) Other current liabilities	1.332	0.925	1.089
(d) Short-term provisions	0.688	0.685	0.375
Total Current Liabilities (4)	17.082	23.150	41.509
TOTAL	20.296	25.435	42.579
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	0.796	0.988	0.968
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	0.796	0.988	0.968
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	15.613	18.237	37.418
(d) Cash and cash equivalents	1.049	3.886	2.582
(e) Short-term loans and advances	2.719	2.312	1.597
(f) Other current assets	0.119	0.012	0.014
Total Current Assets	19.500	24.447	41.611
TOTAL	20.296	25.435	42.579

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	95.000 (Approx.)	94.000 (Approx.)	NA
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX		1.336	1.765	1.345
Less	TAX		0.413	0.545	NA
	PROFIT/ (LOSS) AFTER TAX		0.923	1.220	NA
	BALANCE CARRIED TO THE B/S		3.077	2.154	0.935
	Earnings / (Loss) Per Share (Rs.)		92.30	122.00	NA

Expected Sales (2014-2015): Rs. 105.000 Millions

The above information has been parted by Mr. Navin (Accounts Officer).

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	6.58	6.94	3.16
Return on Investment (ROI) (PBT/Networth)		0.42	0.78	1.30
Debt Equity Ratio (Total Debt/Networth)		0.37	1.69	3.84
Current Ratio (Current Asset/Current Liability)		1.14	1.06	1.00

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	0.100	0.100	0.100
Reserves & Surplus	0.935	2.154	3.077
Net worth	1.035	2.254	3.177
long-term borrowings	0.000	0.000	0.000
Short term borrowings	3.974	3.812	1.172
Total borrowings	3.974	3.812	1.172
Debt/Equity ratio	3.840	1.691	0.369

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 two 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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
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	Yes
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. In Millions)	31.03.2013 (Rs. In Millions)
SHORT TERM BORROWINGS
From Directors	1.172	3.812
Total	1.172	3.812

FIXED ASSETS

· Air Conditioner

· Computer

· Furniture and Fixture

· Office Equipment

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.62.10
UK Pound	1	Rs.94.10
Euro	1	Rs.73.42

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	DIV
Report Prepared by :	MRI

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	4
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
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.