The Company was incorporated as `Navkar Corporation Limited' on September 29, 2008 as a public limited and joint stock company under Part IX of Companies Act, 1956 with the RoC. the Company received the certificate for commencement of business on September 30, 2008. There has been no change in the name of the Company since incorporation. Conversion of Partnership Firm into the Company The Company was formed pursuant to the conversion of a partnership firm, M/s Navkar Infra and Logistics Corporation, into a joint stock company under Part IX of the Companies Act, 1956. The Partnership Firm was constituted by a partnership deed dated July 7, 2007, entered into by Mr. Shantilal Jayavantraj Mehta, Mr. Nemichand Jayavantraj Mehta, Ms. Kamlabai S. Mehta, Mr. Jayesh Nemichand Mehta, Ms. Shailaja N. Mehta, Ms. Sairabai J. Mehta and Ms. Seema K. Mehta, the erstwhile partners, for the purpose of carrying the business of trading, manufacturing, importing and exporting, and providing infrastructure and logistics services, including operating container freight stations and allied services. During the existence of the Partnership Firm, certain partners contributed land parcels, including land in Ajivali owned by them to the Partnership Firm. Accordingly, in financial year 2008, the book value of the land was credited to the capital account of the Partnership Firm. Subsequently, in August 2008, this land at Ajivali was revalued resulting in an increase in book value of such land and such increase in book value was credited to the capital account and current account of the partnership firm. In financial year 2009, the partners of the Partnership Firm passed a resolution dated July 1, 2008 to carry out the business of the Partnership Firm through a company limited by shares. Pursuant to the partnership deed, upon the conversion of the Partnership Firm into a joint stock company, all the assets and liabilities of the Partnership Firm were taken over by the Company as a going concern and all the erstwhile partners were issued Equity Shares in proportion to their contribution of capital in the Partnership Firm, represented by their respective shares in the capital account of the Partnership Firm, on the date of succession in the Company. Further upon such conversion, the balance in the current account of the Partnership Firm, amounting to 976.58 million, was restated as unsecured loans given by certain members of the Company in proportion to their respective shares in the current account of the Partnership Firm. Some of these unsecured loans, amounting in aggregate to 705.00 million, have subsequently been converted to Equity Shares which have been allotted to the Promoters and certain members of the Promoter Group and other such loans remain outstanding as of the date of this Red Herring Prospectus. As on March 31, 2015, the balance outstanding under such unsecured loans, restated upon conversion of the Partnership Firm, was 271.54 million. Establishment of the CFSs Ajivali CFS I and Ajivali CFS II were set up by Preeti Logistics Limited ("PLL"), previously a wholly owned subsidiary of the Company, in 2008 and 2006*, respectively. Subsequently, in 2010, PLL amalgamated with the Company pursuant to a Scheme of Amalgamation sanctioned by the High Court of Bombay, with effect from April 1, 2009. Pursuant to this Scheme of Amalgamation, the entire business of PLL was deemed to be vested in the Company, including all statutory licenses and permissions for operating CFSs. Accordingly, the Commissioner of Customs (Export), Jawaharlal Nehru Custom House, Nhava Sheva, issued notifications dated July 13, 2010 recording the change in the name of Ajivali CFS I and Ajivali CFS II from "Preeti Logistics Limited (New)" to "Navkar Corporation Limited - I" and "Preeti Logistics Limited (Old)" to "Navkar Corporation Limited - II", respectively. Major Events : 2008 -Incorporation of the Company under Part IX of the Companies Act, 1956 -Preeti Logistics Limited obtained notification for appointing certain premises within Ajivali CFS II as a public bonded warehouse 2009 -Establishment of the CFS at Somathane -Amalgamation of Preeti Logistics Limited with the Company pursuant to a Scheme of Amalgamation pursuant to which the Company started operations at Ajivali CFS I and Ajivali CFS II and the installed handling capacity increased from 220,000 TEUs per annum to 310,000 TEUs per annum -Obtained notification for appointing certain premises within the Somathane CFS as a public bonded warehouse 2011 -Approval for opening private siding at Somathane station as an Independent Booking Point for handling of container traffic 2012 -Commercial notification of the private siding at Somathane as a brownfield private freight terminal 2014 -Obtained approvals for handling, receiving, storing and dispatching hazardous cargo for import and export at Ajivali CFS II and Somathane CFS -Discontinued business of sale of agro products with effect from April 1, 2014 2015 -Scheme of Amalgamation of the erstwhile Navkar Terminals Limited with Harvard Credit Rating Agency Private Limited (presently known as Navkar Terminals Limited) sanctioned by the High Court of Bombay and the name of Harvard Credit Rating Agency Private Limited changed to Navkar Terminals Limited -Approval for setting up the ICD by NTL at Umergaon, Valsad district (near Vapi), Gujarat from the Department of Commerce Awards, Certificates and Recognitions : 2011 -Awarded `Emerging Container Freight Station of the Year (Specific)' for Nhava Sheva by the 2nd All India Maritime and Logistics Awards, 2011 2012 -Awarded `Fastest Growing Container Freight Station Operator of the Year (Specific) for Nhava Sheva by the 3rd All India Maritime and Logistics Awards, 2012 2013 -Awarded `Container Freight Station Operator of the Year (Specific)' for Nhava Sheva by the 4th All India Maritime and Logistics Awards, 2013 -Received a certificate of merit from the World Customs Organization for rendering exceptional service to the international Customs community 2014 -Awarded `Container Freight Station of the Year' at the Gateway Awards, 2014 -Awarded `Container Freight Station Operator of the Year (Specific)' for Nhava Sheva by the 5th All India Maritime and Logistics Awards, 2014 2015 -Received the ICC Supply Chain Excellence Award 2015 in the category of `CFS Management' from the Indian Chamber of Commerce. 2016 -Navkar Corporation has won ICC Supply Chain & Logistics Excellence Award, 2016 in the category of Container Freight Station (CFS) Operator. 2018 -Company has received "Award for Highest Import Deliveries of Containers".