MIRA INFORM REPORT

Report No. :	328518
Report Date :	24.06.2015

IDENTIFICATION DETAILS

Name :	AEC TRANSOLUTIONS PRIVATE LIMITED
Registered Office :	4, DSIDC Shed, Okhla, Phase I, New Delhi – 110020
Tel. No.:	91-11-46523000
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	20.12.2013
Com. Reg. No.:	55-262560
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U60230DL2013PTC262560
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	DELA34366D
PAN No.: [Permanent Account No.]	AAMCA2608M
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged into transportation services.
No. of Employees :	60 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ca (11)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is relatively new company incorporated in the year 2013. It is engaged in transportation services. It has a moderate track record. The company has minimal sales turnover and has incurred heavy losses during the first year of its operations. Rating is constrain on account of recent establishment of company along with limited business track record marked by leverage balance sheet profile. Trade relations are improving. Business is active. Payments terms are slow. In view of newly incorporated, company can be considered for business dealings with some cautions.

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, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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 31-03-2013.

INFORMATION PARTED BY

Name :	Mr. Kundan Singh
Designation :	Accounts Department
Contact No.:	91-11-46523000
Date :	24.06.2015

LOCATIONS

Registered Office :	4, DSIDC Shed, Okhla, Phase I, New Delhi – 110020, India
Tel. No.:	91-11-46523000
Fax No.:	Not Available
E-Mail :	rakesh@adityacargo.com ritesh@adityacargo.com
Branch Office :	C6, Okhla Industrial Area, Phase I, New Delhi – 110020, India Also Located At: Ahmedabad Surat Vapi Tarapur Gurgaon Faridabad Chhatral

DIRECTORS

As on 30.09.2014

Name :	Mr. Jai Karan Chaudhary
Designation :	Director
Address :	House No.275, Sector -21a, Faridabad Nit, Faridabad, 121001, Haryana, India
Date of Birth/Age :	15.08.1961
Date of Appointment :	20.12.2013
DIN No.:	06682247
Name :	Mr. Atin Chaudhary
Designation :	Director
Address :	House No-275, Sector 21a, Faridabad Nit, Faridabad, 121001, Haryana, India
Date of Birth/Age :	29.03.1990
Date of Appointment :	20.12.2013
DIN No.:	06682257
Name :	Mr. Nitin Chaudhary
Designation :	Director
Address :	House No. 275, Sector 21a, Faridabad Nit, Haryana, 121001, Haryana, India
Date of Birth/Age :	03.09.1985
Date of Appointment :	20.12.2013
DIN No.:	06682263
Name :	Mr. Ritesh Kumar Jha
Designation :	Director
Address :	A- 5/208, Clifton Apartment, Charmwood Village, Surajkund, Faridabad, 121009, Haryana, India
Date of Birth/Age :	31.12.1970
Date of Appointment :	20.12.2013
DIN No.:	06682268

KEY EXECUTIVES

Name :	Mr. Kundan Singh
Designation :	Accounts Department

MAJOR SHAREHOLDERS

As on 30.09.2014

Names of Shareholders	No. of Shares	%age holding
Jai Karan Chaudhary	2500	25.00
Nitin Chaudhary	2500	25.00
Atin Chaudhary	2500	25.00
Mukesh Devi	2500	25.00
Total	10000	100.00

As on 30.09.2014

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 :	Subject is engaged into transportation services.
Products / Services :	Transportation Services
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Cash, L/C and Credit
Purchasing :	Cash, L/C and Credit

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Delhi Surat Road Line
Name of the Person :	Mr. Bajrang
Contact No.:	91-9376660096
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Wholesaler, Retailer and End Users

Reference :

Venture India Febmart Private Limited

Name of the Person :

Mr. Sanjeev Gupta (Director)

Contact No.:

91-9811043868

Since How Long Known :

5 Years

Experience :

Product Quality	Delivery Behaviour	Overall
Good	Good	Good

Maximum Limit Dealt :

Rs.1.000 Million

Remark:

They gave us positive response about subject company they are satisfied with their product quality and delivery behaviour.

No. of Employees :

60 (Approximately)

Bankers :

Banker Name	Punjab National Bank
Branch Address	Defence Colony, Delhi, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Overdraft = Rs.8.000 Million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

• Bank of India
• Axis Bank Limited

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014
LONG TERM BORROWING
HDFC Bank (Secured against Hypothecation of Commercial Vehicle)	6.534
Total	6.534

Auditors :
Name :	Andros and Company Chartered Accountants
Address :	308, Hemkunt Chambers, 89, Nehru Place, New Delhi – 110019, India
Tel. No.:	91-11-26440144 / 26440145
E-Mail :	mail@capuneet.com
PAN No.:	AABFS7061C
Memberships :	Not Available
Collaborators :	Not Available
Sister Concern :	Atin Rail Cargo Atin Courier and Cargo Aditya Express Cargo

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital:

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

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.100
(b) Reserves & Surplus	(0.386)
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	(0.286)
(3) Non-Current Liabilities
(a) long-term borrowings	7.076
(b) Deferred tax liabilities (Net)	0.078
(c) Other long term liabilities	0.000
(d) long-term provisions	0.000
Total Non-current Liabilities (3)	7.154
(4) Current Liabilities
(a) Short term borrowings	0.000
(b) Trade payables	0.510
(c) Other current liabilities	0.008
(d) Short-term provisions	0.000
Total Current Liabilities (4)	0.518
TOTAL	7.386
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7.083
(ii) Intangible Assets	0.000
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	0.000
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.000
(e) Other Non-current assets	0.029
Total Non-Current Assets	7.112
(2) Current assets
(a) Current investments	0.000
(b) Inventories	0.000
(c) Trade receivables	0.000
(d) Cash and cash equivalents	0.025
(e) Short-term loans and advances	0.249
(f) Other current assets	0.000
Total Current Assets	0.274
TOTAL	7.386

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014
	SALES
	Income	0.851
	Other Income	0.000
	TOTAL	0.851
Less	EXPENSES	1.158
	PROFIT/ (LOSS) BEFORE TAX	(0.307)
Less	TAX	0.079
	PROFIT/ (LOSS) AFTER TAX	(0.386)
	Earnings / (Loss) Per Share (Rs.)	(38.60)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014
Current Maturities of Long term debt	NA
Cash generated from operations	NA

KEY RATIOS

PARTICULARS		31.03.2014
Net Profit Margin (PAT/Sales)	(%)	(45.36)
Return on Total Assets (PBT/Total Assets}	(%)	(4.16)
Return on Investment (ROI) (PBT/Networth)		1.07
Debt Equity Ratio (Total Debt/Networth)		(24.74)
Current Ratio (Current Asset/Current Liability)		0.53

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	----------------------
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	----------------------
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last one year	Yes
27	Reasons for variation <> 20%	----------------------
28	Estimation for coming financial year	No
29	Profitability for last one year	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	----------------------
33	Market information	----------------------
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014
LONG TERM BORROWING
From Director	0.542
Total	0.542

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

FIXED ASSETS

• Vehicle

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 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.63.64
UK Pound	1	Rs.100.41
Euro	1	Rs.71.62

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	TRI
Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	1
OPERATING SCALE	1~10	1
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILITY	1~10	1
--LIQUIDITY	1~10	1
--LEVERAGE	1~10	1
--RESERVES	1~10	1
--CREDIT LINES	1~10	1
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		11

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.