MIRA
INFORM REPORT
|
Report Date : |
04.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
PENGUIN BOOKS INDIA PRIVATE LIMITED |
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Registered Office : |
11, Community Centre, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
20.03.1985 |
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Com. Reg. No.: |
55-20493 |
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CIN No.: [Company
Identification No.] |
U22110DL1985PTC020493 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELP01109D |
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PAN No.: [Permanent
Account No.] |
AAACP6681K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Printers, Publishers and Distributors of Books |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 710000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having fine track.
Available information indicates high financial responsibility of the company.
Trade relations are fair. Payments are usually correct and as per
commitments. The company can be considered good for any normal business dealings. It can be regarded as a promising business partner in a medium to
long-run. |
LOCATIONS
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Registered Office : |
11, Community Centre, |
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Tel. No.: |
91-11-26494401 / 26494402 / 26494405
/ 07 |
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Fax No.: |
91-11-26494403 / 26494404 |
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E-Mail : |
contact.service@in.penguingroup.com
sapna.wadhwa@in.penguingroup.com
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Website : |
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Branch Office : |
258/4, |
DIRECTORS
|
Name : |
Mr. Aveek Sarkar |
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Designation : |
Managing Director |
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Address : |
12/4, |
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Date of Birth/Age : |
09.06.1945 |
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Date of Appointment : |
25.05.1987 |
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|
Name : |
Mr. Arup Kumar Sarkar |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
16.08.1946 |
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Date of Appointment : |
10.07.1987 |
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|
Name : |
Ms. Shobha Subramanyan |
|
Designation : |
Director |
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Address : |
1304, Oakwood Apartments, Jakkasandra Block, Koramangala, |
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Date of Birth/Age : |
27.10.1949 |
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Date of Appointment : |
15.11.1989 |
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|
Name : |
Mr. Peter James Field |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
29.08.1946 |
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Date of Appointment : |
21.09.1998 |
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|
Name : |
Mr. John Makinson |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
10.10.1954 |
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Date of Appointment : |
31.05.2002 |
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Name : |
Mr. David Davidar |
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Designation : |
Director |
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Address : |
C-2/52A, Safdarjung Development Area, |
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Date of Birth/Age : |
27.09.1958 |
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Date of Appointment : |
01.01.2004 |
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Name : |
Ms. Savithri Parekh |
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Designation : |
Director |
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Address : |
7-B, |
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Date of Birth/Age : |
14.03.1966 |
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Date of Appointment : |
19.04.2005 |
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Name : |
Ms. Ranjani Sridhar |
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Designation : |
Director |
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Address : |
7106 Sector Pocket 7, |
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Date of Birth/Age : |
30.11.1961 |
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Date of Appointment : |
27.08.2005 |
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Name : |
Mr. Thomas Abraham |
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Designation : |
Director |
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Address : |
A-1/84 A First Floor, Panchsheel Enclave, |
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Date of Birth/Age : |
29.03.1965 |
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Date of Appointment : |
19.04.2005 |
KEY EXECUTIVES
|
Name : |
Mr. U K Raina |
|
Designation : |
Company Secretary |
|
Address : |
B-4 Pamposh Enclave, Greater Kailash – I, |
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Tel No. : |
91-11-2639530 / 26238276 / 41734687 |
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Fax No. : |
91-9810167705 |
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Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Ananda Publishers Private Limited |
|
17998 |
|
Penguin Publishing Company Limited |
|
22000 |
|
Umesh Kumar Khaitan |
|
2 |
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Total |
|
40000 |
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|
Equity Share
Breakup |
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|
Category |
|
Percentage of
Holding |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
55.00 |
|
Bodies corporate |
|
44.99 |
|
Other top fifty shareholders |
|
0.01 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Printers, Publishers and Distributors of Books |
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|
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Brand Names : |
“Penguin Books” |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
L/C, Others or Credit (90/120/180 days) terms |
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Purchasing : |
L/C, Others or Credit (90/120 days) terms |
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
Wholesalers and Publishers |
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No. of Employees : |
73 |
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|
|
|
Bankers : |
Ø
Bank of Ø
State Bank of Ø ICICI Bank Limited Ø
ANZ Grindlays Bank, |
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Banking
Relations : |
Satisfactory |
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|
|
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Auditors : |
|
|
Name : |
Price Water House & Company Chartered Accountants |
|
Address : |
P-1, Aditya Vihar Saidulajab, Opposite D-Block, Saket,
Mehrauli, |
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|
|
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Parent Company : |
Penguin Publishing Company Limited, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100,000 |
Equity shares |
Rs.
100 each |
Rs. 10.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40,000 |
Equity shares |
Rs.
100 each |
Rs.
4.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
4.000 |
4.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
175.579 |
92.549 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
179.579 |
96.549 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
2.031 |
1.736 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
2.031 |
1.736 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
181.610 |
98.285 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
10.805 |
10.419 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
9.119 |
12.346 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
69.863 |
46.108 |
|
|
Sundry Debtors |
|
226.240 |
161.110 |
|
|
Cash & Bank Balances |
|
66.659 |
55.573 |
|
|
Other Current Assets |
|
1.197 |
0.723 |
|
|
Loans & Advances |
|
16.531 |
14.536 |
|
Total
Current Assets |
|
380.490 |
278.050 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
186.202 |
172.307 |
|
|
Provisions |
|
32.602 |
30.223 |
|
Total
Current Liabilities |
|
218.804 |
202.530 |
|
|
Net Current Assets |
|
161.686 |
75.520 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
181.610 |
98.285 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.23 |
2.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.74 |
1.37 |
LOCAL AGENCY FURTHER INFORMATION
The company is in trade terms with :
Ø
Penguin Publishing Company Limited,
Ø
Penguin
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U22110DL1985PTC020493 |
|
Name of the
company |
PENGUIN BOOKS INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
11, Community Centre, |
|
This form is for |
Creation of charge |
|
Type of charge |
Hypothecation
|
|
Particular of
charge holder |
ICICI Bank
Limited Landmark, |
|
Nature of
instrument creating charge |
Loan agreement No.
LADEl0005249783 dated 01.01.2006 securing as amount of Rs. 0.600 Million |
|
Date of
instrument Creating the charge |
01.01.2006 |
|
Amount secured by
the charge |
Rs. 0.600 Million
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Repayment in 36
equal monthly installments of Rs. 0.019 Million where interest is @ 9.75 % on
reducing balance. |
|
Description of
the property charged indicating whether it is a charged on |
Vehicles |
|
Particulars of the
property charged |
Ford Fiesta
Chasis No. MAJBXXMRTB5EB1241 Engine No. 5EB1241 Color : Moondust
Silver Location : |
AS PER WEBSITE
English language trade publisher in the subcontinent.
Headquartered in
Founded in 1985, Penguin began publishing in October 1987 with seven titles.
Today, the company publishes over 200 titles every year and has an active
backlist of over 750 titles.
Among the significant titles published by Penguin India are William Dalrymple’s
White Mughals,
published in November 2002, Vikram Seth’s magnum opus A Suitable Boy, (Penguin India is
the only publisher anywhere in the world to publish all of Vikram Seth’s
titles), A.P.J. Abdul Kalam’s India
2020 and Ignited
Minds, Arundhati Roy’s Booker winner The God of Small Things and The Algebra of Infinite Justice,
Gita Piramal’s classic Business
Maharajas, Bipan Chandra’s India’s Struggle for Independence,
which has become a standard college text for history students, Mark Tully’s No Full Stops in India, Maneka
Gandhi’s essential reference Hindu
Names, the bestselling translation of Taslima Nasrin’s Lajja: Shame, Khushwant Singh’s Delhi: A Novel, Shobhaa De’s Starry Nights, Shashi Tharoor’s The Great Indian Novel, Romila
Thapar’s Penguin History of Early
India, Gurcharan Das’s India Unbound, Sudhir Kakar’s Intimate Relations, Vikram
Chandra’s Love and Longing in Bombay,
Upamanyu Chatterjee’s English,
August, India’s best loved children’s author Ruskin Bond’s The Room on the Roof, Satyajit
Ray’s Stranger: Stories,
Bhisham Sahni’s Tamas,
Yann Martel’s Booker winner Life of
Pi, R.K. Narayan’s Malgudi Schooldays and The Best of Laxman, and R.K.
Laxman’s collections of Common Man
cartoons.
Penguin India also publishes leading writers from other
parts of the subcontinent including Carl
Muller, Bapsi Sidhwa,
Usma Aslam Khan, Romesh Gunesekera, Shyam Selvadurai and Tehmina Durrani, to name a few.
Known for its strong fiction and narrative non-fiction list, Penguin
Penguin’s biggest publishing initiative in the recent past is the re-launch of
Puffin, its children’s imprint, in 2002. The Puffin list is characterized by
writing from the best fiction and non-fiction authors, stunning illustrations
by the leading artists in the country, and production quality that meets the
highest international standards. Since its re-launch, Puffin has published over
40 titles in
Following the success of Puffin, Penguin
Books
Home
In the Book section, there is much to discover about all of
our titles, exclusive material, author profiles, interviews and sample first
chapters. There is a highlighted Book of the Month, reviews of all our major
recent titles, and a chance for readers to write their own reviews or a message
to a favorite author. The Penguin New Release section highlights all new
publications from Penguin. A fully comprehensive and easy to navigate search
engine takes browsers straight to the books and authors they are after.
Children’s
Section
Younger browsers can write to their favorite authors through
the Children's Corner. We also want them to let us know about the issues that
concern them, whether they relate to a book or not. There is information about
all our children's titles, as well as lots of games, competitions and quizzes,
with plenty of prizes to be won.
Author’s
Lounge
In the Author Lounge browsers can get to know more about
their favorite Penguin
Penguin
Post
Penguin Post is our catalogue of titles for the forthcoming
month. Easily downloadable, this online brochure contains detailed information
about all titles published by Penguin Books India for a particular month and
for books distributed by Penguin Books India from Penguin
News
and events
Penguin is known for its regular publishing events, but
browsers can be among the first to find out when an author is in town signing
books or giving a talk, and when we are launching a major new title. There are
also details of all book fairs and book events across the country. In addition
there is a weekly news bulletin posted here every Friday, informing readers of
the latest book acquisitions, any parties or launches occurring that week as
well as any other book-related news.
Penguin Group Contacts
Penguin Group (UK)
80 Strand, London
WC2R 0RL
United Kingdom
Penguin Group (USA)
375 Hudson Street
New York
NY 10014
Penguin Group (Australia)
250 Camberwell Road
Camberwell
VIC 3124
Australia
Penguin Group (Canada)
10 Alcorn Ave., Suite 300
Toronto, Ontario
M4V 3B2 Canada
Tel: (416) 925-2249
Fax: (416) 925-0068
Penguin Ireland
25 St Stephen's Green
Dublin 2
Ireland
Penguin Group (
Private
Bag 102-902
Penguin
Rosebank
2169
NEW RELEASE
Harry Potter and the
Deathly Hallows created publishing history worldwide today on
the first day of its release.
In
The release: Amidst the tightest
and most thorough security arrangements ever that saw simultaneous delivery
into over 300 locations, Harry Potter and
the Deathly Hallows went on sale in every city in
First Day sales: Penguin India, the
exclusive distributors for the book in India, saw advance orders climbing from
230,000 to 252,000 on the night before the release (in comparison, Harry Potter and the Half-Blood Prince,
the record holder till now, had registered a total order for around 160,000
copies). The release of the book witnessed an unprecedented rush by readers to
pick up copies and read the long-awaited series finale.
On its very first day of sale in
Thomas Abraham, CEO and
President, Penguin Books India said, “This is absolutely amazing. Never
before have bookstores recorded such sales. It’s been a hectic lead up to
release with complex logistics and spoiler leaks in the US, but in the end,
we’re delighted that it’s readers who have won and the magic of Harry Potter is
being enjoyed the way it should be.”
Aniyan Nair, Marketing Head of the Crossword chain
said: “We’re absolutely amazed and delighted with the response. There were
serpentine queues of eager readers outside all our stores throughout the
country! Our stores all over have reported fabulous sales on day one.”
Hemu Subramaniam, CEO Landmark said “In all my
experience in book retailing, never have I seen a phenomenon like this, and I’m
not sure we’ll see one in a long time to come.”
Pottermania grips the
nation like never before this weekend, as hundreds of thousands of readers
across the country welcome the teenage wizard into their homes for the final
time, and pore over the final adventures of their favourite characters in
breathless excitement.
Penguin author Chinua Achebe wins the Man Booker
International Prize
13 June 2007: Penguin Books
The Man Booker International Prize, which is worth £60,000, is
awarded once every two years to a living author who has published fiction
either originally in English, or generally available in translation in the
English language. It was first awarded to Albanian writer Ismail Kadaré in
2005.
The 2007 panel of judges was chaired by Professor Elaine
Showalter and consisted of writer and novelist, Nadine Gordimer and writer and
academic Colm Tóibín.
Achebe is best known for his first novel, Things Fall
Apart (Penguin UK), written in 1958, and Anthills of the Savannah (also
Penguin UK), published more than 30 years later, but his work includes more
than 20 books, including novels, short stories, essays and collections of
poetry.
Achebe beat an impressive list of contenders, which this
year also included Margaret Atwood, John Banville, Peter Carey, Don DeLillo,
Doris Lessing, Ian McEwan, Michael Ondaatje and Philip Roth.
‘It was 50 years ago this year that I began writing my first
novel, Things Fall Apart. It is wonderful to hear that my peers have
looked at the body of work I have put together in the last 50 years and judged
it deserving of this important recognition. I am grateful,’ said the author on
receiving the award.
Academic and author Elaine Showalter, who was one of the
judges, said: ‘In Things Fall Apart and his other fiction set in
About Chinua Achebe
Chinua Achebe was born in 1930 and educated at the
A diplomat in the ill-fated Biafran
government of 1967-70, Achebe’s work is primarily centred on African politics,
the depiction of
as inaccurate characterizations
of
He has lectured at many
universities worldwide and is now Charles P Stevenson Jr. Professor of
Languages and Literature at
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records 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 records 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.40.36 |
|
|
1 |
Rs.82.18 |
|
Euro |
1 |
Rs.55.31 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|