MIRA INFORM REPORT

Report No. :	344370
Report Date :	10.10.2015

IDENTIFICATION DETAILS

Name :	CELEBI NAS AIRPORT SERVICES INDIA PRIVATE LIMITED
Registered Office :	E8 - 3016, Level 3, New T2, Chhatrapati Shivaji International Airport, Andheri (East), Mumbai - 400099, Maharashtra
Tel. No.:	91-22-66859377
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	12.12.2008
Com. Reg. No.:	11-188882
Capital Investment / Paid-up Capital :	Rs. 552.000 Million
CIN No.: [Company Identification No.]	U63033MH2008FTC188882
IEC No.:	0308074351
TAN No.: [Tax Deduction & Collection Account No.]	MUMC6502D
PAN No.: [Permanent Account No.]	AADCC5379G
Legal Form :	Private Limited Liability Company
Line of Business :	The Company provides ground handling services (representation, traffic, ramp, cargo, flight operations etc.) to foreign airlines, domestic airlines, business jets and private cargo companies.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 2075000
Status :	Good
Payment Behavior :	Regular
Litigation :	Clear
Comments :	Subject is subsidiary of “Celebi Hava Servisi Anonim Sirketi” TURKEY. It was incorporated on December 12, 2008, and was awarded the concession by MIAL to provide the ground handling services at CSIA for 11 years (commencing January 01, 2009). Furthermore, Celbi Nas has entered into concession agreement with MIAL on April 07, 2015 (concession for period till May 02, 2036) to install and maintain BME at all aerobridges at Chhatarpati Shivaji International Airport (CSIA), Mumbai. The rating of Celebi NAS Airport Services India Private Limited (Celebi NAS) reflects consistent growth in operating income, consistent improvement in profit margins over the last four years, growth in ground handling business through addition of new contracts in May 2015, improvement in capital structure and debt coverage indicators. The rating also favourably factor in business expertise of promoters, promoters’ long and established relationship with major International Airlines and the benefits it derives from operating at one of India’s largest airports i.e. Chhatrapati Shivaji International Airport (CSIA), Mumbai. Trade relations are fair. Business is active. Payments terms are reported to be regular and as per commitment. The company can be considered good 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 – 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

Rating Agency Name	CARE
Rating	Long Term Bank Facilities = BBB
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	September - 2015

Rating Agency Name	CARE
Rating	Short Term Bank Facilities = A3+
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	September - 2015

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 31-03-2015.

INFORMATION DENIED BY

Name :	Mr. Punit Lodha
Designation :	Accounts Manager
Contact No.:	91-22-66859377
Date :	08.10.2015

LOCATIONS

Registered Office/ Corporate Office :	E8 – 3016, Level 3, New T2, Chhatrapati Shivaji International Airport, Andheri East, Mumbai – 400099, Maharashtra, India
Tel. No.:	91-22-66859377
Fax No.:	91-22-66859399
E-Mail :	Laxman.Prasad@celebinas.in
Website :	http://www.celebinas.in

DIRECTORS

AS ON 20.08.2014

Name :

Mr. Jungbir Singh

Designation :

Director

Address :

A-13, Niti Bagh, New Delhi - 110049, India

Date of Birth/Age :

30.01.1970

Date of Appointment :

12.12.2008

DIN No.:

01206815

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	U74899DL1995PTC069059	SALWAN LEASING AND FINANCE PRIVATE LIMITED	Director	25/05/1995	25/05/1995	20/07/2010	Active	NO
2	U63033MH2008FTC188882	CELEBI NAS AIRPORT SERVICES INDIA PRIVATE LIMITED	Director	12/12/2008	12/12/2008	-	Active	NO
3	U74900DL2009FTC191359	CELEBI DELHI CARGO TERMINAL MANAGEMENT INDIA PRIVATE LIMITED	Director	18/06/2009	18/06/2009	-	Active	NO
4	U63090DL2009PTC196128	CELEBI GROUND HANDLING DELHI PRIVATE LIMITED	Director	18/11/2009	18/11/2009	-	Active	NO
5	U74120MH2012FTC238884	CELEBI MUMBAI CARGO TERMINAL MANAGEMENT INDIA PRIVATE LIMITED	Director	17/12/2012	17/12/2012	-	Strike off	NO

Name :

Mr. Husnu Tanzer Gucumen

Designation :

Director

Address :

Acarlar Mahallesi 5 Caddesi 28 Sokak, Acarkent Sitesi No:20 Daire C-114, Istanbul - 34800, Turkey

Date of Appointment :

20.12.2010

DIN No.:

03269090

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	U74900DL2009FTC191359	CELEBI DELHI CARGO TERMINAL MANAGEMENT INDIA PRIVATE LIMITED	Director	15/11/2010	09/11/2010	22/12/2014	Active	NO
2	U63033MH2008FTC188882	CELEBI NAS AIRPORT SERVICES INDIA PRIVATE LIMITED	Director	20/12/2010	24/11/2010	-	Active	NO

Name :

Mr. Atilla Korkmazoglu

Designation :

Director

Address :

Osveny Utca 5 - 2, Budakeszi - 2092, Hungary

Date of Appointment :

20.12.2010

DIN No.:

02819438

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	U24233DL2007PTC165308	DELHI AVIATION SERVICES PRIVATE LIMITED	Additional director	28/07/2010	28/07/2010	28/04/2011	Active	NO
2	U63090DL2009PTC196128	CELEBI GROUND HANDLING DELHI PRIVATE LIMITED	Director	30/09/2011	08/09/2010	-	Active	NO
3	U63033MH2008FTC188882	CELEBI NAS AIRPORT SERVICES INDIA PRIVATE LIMITED	Director	20/12/2010	24/11/2010	-	Active	NO
4	U74900DL2009FTC191359	CELEBI DELHI CARGO TERMINAL MANAGEMENT INDIA PRIVATE LIMITED	Director	21/07/2011	21/07/2011	-	Active	NO

Name :

Mr. Hassan El Houry

Designation :

Director

Address :

Block 6, Building 45, Jabriya, Kuwait - 0000, Kuwait

Date of Appointment :

20.12.2010

DIN No.:

03144789

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	U80302MH1995PTC092766	NAS AVIATION SERVICES INDIA PRIVATE LIMITED	Director	04/10/2010	04/10/2010	-	Active	NO
2	U65910MH1996PTC096519	NAS LEASING INDIA PRIVATE LIMITED	Director	04/10/2010	04/10/2010	-	Active	NO
3	U63033MH2008FTC188882	CELEBI NAS AIRPORT SERVICES INDIA PRIVATE LIMITED	Director	20/12/2010	24/11/2010	-	Active	NO
4	U62200MH2009PTC192961	D J AVIATION SERVICES PRIVATE LIMITED	Additional director	25/11/2010	25/11/2010	-	Active	NO
5	U74990MH2011PTC215136	NAS GROUND SUPPORT INDIA PRIVATE LIMITED	Director	23/03/2011	23/03/2011	-	Active	NO

Name :

Mr. Mohamed Galaleldin Mohamed Hassan Saleh

Designation :

Director

Address :

Block 5, Building 16, Salmiya, Kuwait - 0000, Kuwait

Date of Appointment :

20.12.2010

DIN No.:

03334606

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	U63033MH2008FTC188882	CELEBI NAS AIRPORT SERVICES INDIA PRIVATE LIMITED	Director	20/12/2010	24/11/2010	-	Active	NO
2	U62200MH2009PTC192961	D J AVIATION SERVICES PRIVATE LIMITED	Director	02/03/2011	02/03/2011	-	Active	NO
3	U65910MH1996PTC096519	NAS LEASING INDIA PRIVATE LIMITED	Director	02/03/2011	02/03/2011	-	Active	NO
4	U74990MH2011PTC215136	NAS GROUND SUPPORT INDIA PRIVATE LIMITED	Director	23/03/2011	23/03/2011	-	Active	NO
5	U80302MH1995PTC092766	NAS AVIATION SERVICES INDIA PRIVATE LIMITED	Director	24/03/2013	24/03/2013	-	Active	NO
6	U63000MH2010PTC198953	NASPORT HANDLING INDIA PRIVATE LIMITED	Additional director	10/10/2014	10/10/2014	-	Active	NO

Name :

Mr. Sahil Sohan Mehta

Designation :

Director

Address :

1203, Casa Grande, Tulsi Pipe Road, Lower Parel, Mumbai - 400013, Maharashtra, India

Date of Birth/Age :

07.09.1976

Qualification :

MBA

Experience :

12 Years

Date of Appointment :

17.01.2011

DIN No.:

00348720

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	U24100MH1980PTC023118	SOVIKA CHEMICALS PRIVATE LIMITED	Director	20/04/1994	20/04/1994	-	Active	NO
2	U70101MH1994PTC084149	SAHIL REAL ESTATE PRIVATE LIMITED	Director	29/12/1994	29/12/1994	-	Active	NO
3	U62200MH1992PLC069455	SOVIKA AIRLINE SERVICES LIMITED	Director	14/09/2015	02/01/2000	-	Active	NO
4	U65990MH1994PTC080444	CARTIER LEAFIN PRIVATE LIMITED	Director	31/03/2004	31/03/2004	01/07/2010	Active	NO
5	U80302MH1995PTC092766	NAS AVIATION SERVICES INDIA PRIVATE LIMITED	Director	05/05/2009	20/12/2004	03/09/2009	Active	NO
6	U65910MH1996PTC096519	NAS LEASING INDIA PRIVATE LIMITED	Director	20/02/2007	20/02/2007	03/09/2009	Active	NO
7	U74910MH2007PTC175582	SOVIKA AVIATION SERVICES PRIVATE LIMITED	Director	01/11/2007	01/11/2007	-	Active	NO
8	U63033MH2008FTC188882	CELEBI NAS AIRPORT SERVICES INDIA PRIVATE LIMITED	Director	17/01/2011	12/12/2008	-	Active	NO
9	U72900MH2011PTC212059	IP AVENUE INTEGRATED SERVICES PRIVATE LIMITED	Director	09/01/2011	09/01/2011	-	Active	NO
10	U63000MH2012PTC229857	NEXUS FLIGHT OPERATIONS INDIA PRIVATE LIMITED	Director	18/04/2012	18/04/2012	10/03/2015	Active	NO
11	AAA-7168	IP AVENUE FACILITY MANAGEMENT LLP	Designated Partner	07/12/2011	07/12/2011	-	Active	NO

Name :

Mr. Zeynep Candan Cetiner

Designation :

Director

Address :

Akat District, Altay Road, 4B/ 1 Besiktas, Istanbul - 34335, Turkey

Date of Birth/Age :

04.01.1965

Date of Appointment :

31.07.2013

DIN No.:

02787301

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	U63033MH2008FTC188882	CELEBI NAS AIRPORT SERVICES INDIA PRIVATE LIMITED	Director	31/07/2013	08/07/2013	-	Active	NO
2	U63090DL2009PTC196128	CELEBI GROUND HANDLING DELHI PRIVATE LIMITED	Director	18/07/2013	18/07/2013	-	Active	NO
3	U74900DL2009FTC191359	CELEBI DELHI CARGO TERMINAL MANAGEMENT INDIA PRIVATE LIMITED	Director	19/08/2014	22/07/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Punit Lodha
Designation :	Accounts Manager
Name :	Ms. Pooja Bharat Shinde
Designation :	Secretary
Address :	B-28, Plot No. 503, Janprakalp CHS, Sector – 5, Charkop, Kandivali (West), Mumbai - 400067, Maharashtra, India
Date of Birth/Age :	DARPS0465R
Date of Appointment :	16.03.2015
Name :	Mr. Cem Sensoz
Designation :	Chief Executive Officer
Address :	Villa No. 126b, ITC Laburnum, Block A, Sushant Lok Phase I, Gurgaon - 122002, Haryana, India
Qualification :	MBA
Experience :	19 Years
PAN No :	CHPPS2600Q
Date of Appointment :	16.01.2015
Name :	Mr. Tansu Cigeroglu
Designation :	Head of Commerical and Planning
Qualification :	Graduate
Experience :	21 Years
Name :	Mr. Tauseef Khan
Designation :	Chief Operating Officer
Qualification :	Graduate
Experience :	21 Years

MAJOR SHAREHOLDERS

AS ON 20.08.2014

Names of Shareholders	No. of Shares	%age holding
Celebi Hava Servisi Anonim Serketi, Umraniye, Istanbul, Turkey	30360000	55.00
Sovika Aviation Services Private Limited, India	2208000	4.00
Nas Aviation Services India Private Limited, India	22632000	41.00
Total	55200000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 20.08.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companies (s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	55.00
Bodies corporate	45.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company provides ground handling services (representation, traffic, ramp, cargo, flight operations etc.) to foreign airlines, domestic airlines, business jets and private cargo companies.

Products / Services :

Item Code No.	Product / Services Description
99676100	Airport Operation Services

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Reference :	British Airways
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

• Kingfisher Airlines
• SriLankan Airlines
• Austrian
• Turkish Airlines
• THAI
• Bangkok Airways

No. of Employees :

Information declined by the management

Bankers :

Bank Name	Union Bank of India
Branch	Andheri (East) Branch, Mayani Manor, Sir M V Road, (Andheri East), Mumbai – 400069, Maharashtra, 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)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Rupee term loans from banks	0.000	101.413
Short-term borrowings
Other loans and advances
Cash Credit from Banks	4.291	96.525
Total	4.291	197.938

Financial Institutions :	IDBI Trusteeship Services Limited, Asian Bldg., Ground Floor, 17, R.Kamani Marg, Ballard Estate, Mumbai - 400001, Maharashtra, India
Auditors :
Name :	S.R. Batliboi and Company LLP Chartered Accountants
Address :	14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar, Mumbai - 400028, Maharashtra, India
PAN. No.:	AABFS3421N
Memberships :	-----
Collaborators :	-----
Holding Company :	Celebi Hava Servisi Anonim Sirketi
Fellow Subsidiary Company :	Celebi Ground Handling Delhi Private Limited, India (U72900MH2011PTC212059) Celebi Delhi Cargo Terminal Management India Private Limited, India (U74910MH2007PTC175582)
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	IP Avenue Integrated Services Private Limited, India (U72900MH2011PTC212059) Sovika Aviation Services Private Limited, India (U74910MH2007PTC175582)

CAPITAL STRUCTURE

AS ON 20.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
60000000	Equity Shares	Rs.10/- each	Rs. 600.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
55200000	Equity Shares	Rs.10/- each	Rs. 552.000 Million

FINANCIAL DATA

[All figures are in Rupees Million]

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	552.000	552.000	552.000
(b) Reserves & Surplus	174.317	13.276	6.401
(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)	726.317	565.276	558.401
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	101.413	271.013
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	9.015	6.369	8.433
Total Non-current Liabilities (3)	9.015	107.782	279.446
(4) Current Liabilities
(a) Short term borrowings	4.291	96.525	40.584
(b) Trade payables	28.076	29.925	24.252
(c) Other current liabilities	179.228	237.508	235.200
(d) Short-term provisions	13.459	2.617	0.667
Total Current Liabilities (4)	225.054	366.575	300.703
TOTAL	960.386	1039.633	1138.550
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	445.202	550.282	681.387
(ii) Intangible Assets	0.752	1.699	2.449
(iii) Capital work-in-progress	0.000	0.000	0.148
(iv) Intangible assets under development	0.000	0.000	0.105
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	25.803	0.000	0.000
(d) Long-term Loan and Advances	169.486	184.656	206.567
(e) Other Non-current assets	5.755	81.550	90.251
Total Non-Current Assets	646.998	818.187	980.907
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	173.445	147.147	97.573
(d) Cash and cash equivalents	97.382	18.434	24.224
(e) Short-term loans and advances	42.561	55.865	35.846
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	313.388	221.446	157.643
TOTAL	960.386	1039.633	1138.550

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Gross Income	1171.013	981.405	930.954
	Other Income	NA	NA	NA
	TOTAL	NA	NA	NA
Less	EXPENSES	NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	283.870	142.892	40.893
Less/ Add	DEPRECIATION/ AMORTISATION	133.366	136.017	112.675
	PROFIT/ (LOSS) BEFORE TAX	150.504	6.875	(71.782)
Less	TAX	(10.118)	0.000	(0.007)
	PROFIT/ (LOSS) AFTER TAX	160.622	6.875	(71.775)
Add	PRIOR PERIOD ITEM	0.418	0.000	0.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	(214.723)	(221.599)	(149.824)
	BALANCE CARRIED TO THE B/S	(53.683)	(214.724)	(221.599)
	EARNINGS IN FOREIGN CURRENCY
	Ground Handling Services	58.015	58.719	77.153
	TOTAL EARNINGS	58.015	58.719	77.153
	Earnings / (Loss) Per Share (Rs.)	2.90	0.12	(1.30)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	101.279	169.600	169.600
Cash generated from operations	NA	NA	NA
Net cash flow from (used in) operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Gross Income)	(%)	13.72	0.70	(7.71)
Return on Total Assets (PBT/Total Assets}	(%)	16.10	0.66	(6.31)
Return on Investment (ROI) (PBT/Networth)		0.21	0.01	(0.13)
Debt Equity Ratio (Total Debt /Networth)		0.15	0.65	0.86
Current Ratio (Current Asset/Current Liability)		1.39	0.60	0.52

FINANCIAL ANALYSIS

[All figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	552.000	552.000	552.000
Reserves & Surplus	6.401	13.276	174.317
Net worth	558.401	565.276	726.317
long-term borrowings	271.013	101.413	0.000
Short term borrowings	40.584	96.525	4.291
Current maturities of long-term debts	169.600	169.600	101.279
Total borrowings	481.197	367.538	105.570
Debt/Equity ratio	0.862	0.650	0.145

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Gross Income	930.954	981.405	1171.013
		5.419	19.320

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Gross Income	930.954	981.405	1171.013
Profit	(71.775)	6.875	160.622
	(7.71%)	0.70%	13.72%

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	No
17	Details of sister concerns	Yes
18	Major suppliers	No
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 three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	---
33	Market information	---
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

NATURE OF OPERATIONS:

The Company was incorporated on 12 December 2008 and got the contract from Mumbai International Airport Private Limited (MIAL) to provide the Ground Handling Services at Chhatrapati Shivaji International Airport (CSIA) for 11 years. The Company provides ground handling services (representation, traffic, ramp, cargo, flight operations etc.) to foreign airlines, domestic airlines, business jets and private cargo companies.

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10587824	27/08/2015	1,240,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA	C62503388
2	10204339	28/01/2010	100,000,000.00	UNION BANK OF INDIA	ANDHERI (EAST) BRANCH, MAYANI MANOR, SIR M V ROAD, (ANDHERI EAST), MUMBAI - 400069, MAHARASHTRA, INDIA	A80148745

FIXED ASSETS

Tangible Assets

· Plant and Equipment

· Other Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

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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. 65.15
UK Pound	1	Rs. 99.78
Euro	1	Rs. 73.33

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	KAS
Report Prepared by :	SANS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

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 unfavorable 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.