1. Summary Information
|
|
|
Country |
|
|
Company Name |
TATA SKY LIMITED |
Principal Name 1 |
Mr. Ishaat Riyasat Hussain |
|
Status |
Moderate |
Principal Name 2 |
Mr. Bharat Damodar Vasani |
|
|
|
Registration # |
11-130365 |
|
Street Address |
3rd Floor, |
||
|
Established Date |
09.01.2001 |
SIC Code |
-- |
|
Telephone# |
91-22-66133000 |
Business Style 1 |
Service Provider |
|
Fax # |
91-22-66133030 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Direct-To-Home (DTH) Broadcasting Services |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
8,430,933,330 |
Product Name 3 |
-- |
|
Shareholders |
Foreign Hold (30.00%) Bodies Corporate (70.00%) |
Banking |
IDBI
Bank Limited |
|
Public Limited Corp. |
NO |
Business Period |
10 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B (32) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
|
Tata Sons Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,099,134,000 |
Current Liabilities |
8,550,947,000 |
|
Inventories |
259,210,000 |
Long-term Liabilities |
13,514,096,000 |
|
Fixed Assets |
2,551,089,000 |
Other Liabilities |
1,058,995,000 |
|
Deferred Assets |
000 |
Total Liabilities |
23,124,038,000 |
|
Invest& other Assets |
1,574,211,000 |
Retained Earnings |
9,054,067,000 |
|
|
|
Net Worth |
[16,640,394,000] |
|
Total Assets |
6,483,644,000 |
Total Liab. & Equity |
6,483,644,000 |
|
Total Assets (Previous Year) |
6,186,777,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
11,107,778,000 |
Net Profit/ Loss |
[6,266,111,000] |
|
Sales(Previous yr) |
8,020,859,000 |
Net Profit/
Loss (Prev.yr) |
[11,519,486,000] |
MIRA
INFORM REPORT
|
Report Date : |
05.04.2011 |
IDENTIFICATION
DETAILS
|
Name : |
TATA SKY LIMITED |
|
|
|
|
Formerly Known As : |
SPACE TV PRIVATE LIMITED |
|
|
|
|
Registered Office : |
3rd Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
09.01.2001 |
|
|
|
|
Com. Reg. No.: |
11-130365 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U92120MH2001PTC130365 |
|
|
|
|
TAN No.: (Tax Deduction
& Collection Account No.) |
MUMS33388F |
|
|
|
|
PAN No.: (Permanent Account No.) |
AAGCS9294M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
To Provide Direct-To-Home (DTH) Broadcasting Services to Cable TV Viewers Across the Country. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 60000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture between Tata and Star Television. Profitability of the company appears to be under pressure. There appears to be huge accumulated losses recorded by the company. However trade relations are reported as fair. Business is active. Payments are reported to usually correct. In view of strong promoters, 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
3rd Floor, |
|
Tel. No.: |
91-22-66133000 |
|
Fax No.: |
91-22-66133030 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Bansiwala Mill Compound, Off |
|
Tel. No.: |
91-22-56305555 |
|
Fax No.: |
91-22-56669609 |
DIRECTORS
As on 14.07.2010
|
Name : |
Mr. Ishaat Riyasat Hussain |
|
Designation : |
Director |
|
Address : |
Flat No.222, 2nd Floor, B Wing, NCPA, Residential Apartments, Sir Dorab Tata Road, Nariman Point, Mumbai-400021, Maharashtra, India |
|
Date of Birth : |
02.09.1947 |
|
Date of Appointment : |
06.02.2004 |
|
|
|
|
Name : |
Mr. Bharat Damodar Vasani |
|
Designation : |
Director |
|
Address : |
Flat No. B-11, Peregrine 400, Veer Savarkar Marg,
Prabhadevi, Mumbai-400025, |
|
Date of Birth : |
24.08.1958 |
|
Date of Appointment : |
06.02.2004 |
|
|
|
|
Name : |
Mr. Farokh Nariman Subedar |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth : |
24.09.1955 |
|
Date of Appointment : |
06.02.2004 |
|
|
|
|
Name : |
Mr. Vikram Kaushik |
|
Designation : |
Managing Director |
|
Address : |
Sanghi House, 5th Floor, 94, |
|
Date of Birth : |
17.09.1950 |
|
Date of Appointment : |
01.01.2006 |
|
Other Directorships : |
· Hathway Cable and Datacom Private Limited ·
Media Content and Communications Services ( |
|
|
|
|
Name : |
Mr. Paul Francis Aiello |
|
Designation : |
Director |
|
Address : |
4/F, Catalina Mansidn, |
|
Date of Birth : |
17.10.1964 |
|
Date of Appointment : |
02.08.2007 |
|
|
|
|
Name : |
Mr. Padmanabh Sinha |
|
Designation : |
Director |
|
Address : |
Plat No. 33, Maken, Tower Coor HSO Society, Cuffe Parade,
Mumbai – 400005, |
|
Date of Birth : |
21.02.1971 |
|
Date of Appointment : |
02.08.2007 |
|
|
|
|
Name : |
Mr. Uday Shankar |
|
Designation : |
Director |
|
Address : |
Vastu CHS 3/4th Floor, Plat Nos. 301 and 302, Dr. R G Thandani Marg, Worli Sea Face, Mumbai – 400025, Maharashtra, India |
|
Date of Birth : |
16.09.1961 |
|
Date of Appointment : |
01.08.2009 |
|
|
|
|
Name : |
Mr. Jan Koeppen |
|
Designation : |
Director |
|
Address : |
Flat 815, Onslow, Gardens |
|
Date of Birth/Age : |
11.12.1970 |
|
Date of Appointment : |
26.03.2010 |
|
|
|
|
Name : |
Mr. Kumud Goel |
|
Designation : |
Director |
|
Address : |
945/946, Kohinoor, |
|
Date of Birth : |
31.05.1976 |
|
Date of Appointment : |
01.08.2009 |
|
|
|
|
Name : |
Mr. Kaushik G. Kaushik |
|
Designation : |
Managing Director |
|
Address : |
Sanghi House, 5th Floor, |
|
Date of Birth : |
17.09.1950 |
|
Date of Appointment : |
01.01.2006 |
|
|
|
|
Name : |
Mr. Pratim Mukerjea |
|
Designation : |
Director |
|
Address : |
18, |
|
Date of Birth : |
21.11.1955 |
|
Date of Appointment : |
29.06.2006 |
|
|
|
|
Name : |
Mr. Michelle Lee Guthrie |
|
Designation : |
Director |
|
Address : |
20, |
|
Date of Birth : |
12.10.1965 |
|
Date of Appointment : |
01.06.2004 |
|
|
|
|
Name : |
Mr. May Yin Oh |
|
Designation : |
Director |
|
Address : |
5/C, |
|
Date of Birth : |
14.08.1968 |
|
Date of Appointment : |
06.08.2005 |
|
|
|
|
Name : |
Mr. Nitin Raghuwar Swaroop Atroley |
|
Designation : |
Director |
|
Address : |
E63, Vasant Marg, Vasant Vihar, New Delhi-100057, |
|
Date of Birth : |
26.04.1966 |
|
Date of Appointment : |
20.10.2005 |
|
Date of Ceasing : |
31.10.2005 |
KEY
EXECUTIVES
|
Name : |
Mr. Nariman Khan |
|
Designation : |
Company Secretary |
|
Address : |
3-A, |
|
Date of
Birth/Age : |
09.08.1954 |
|
Date of Appointment
: |
01.09.2005 |
|
Date of
Ceasing : |
31.03.2009 |
MAJOR
SHAREHOLDERS
(As on
14.07.2010)
|
Names of
Shareholders |
No. of Shares |
|
|
|
|
Tata Sons
Limited, Mumbai, |
590165333 |
|
Tata Sons
Limited, |
100 |
|
Tata Sons
Limited, |
100 |
|
Tata Sons
Limited, |
100 |
|
Tata Sons
Limited, |
100 |
|
Tata Sons
Limited, |
100 |
|
Network Digital
Distribution Services FZ- LLC, |
168618667 |
|
Baytree
Investments ( |
84309333 |
|
Total |
843093833 |
|
List of
Allottees |
No. of Shares Allotted |
|
|
|
|
TS Investments
Limited, Mumbai, |
98360889 |
|
Network Digital
Distribution Services FZ-LLC, |
28103111 |
|
Baytree
Investments ( |
14051556 |
|
Total |
140515556 |
Equity Share Breakup (Percentage of Total Equity)
(As on 30.09.2010)
|
Category |
Percentage |
|
|
|
|
Foreign Holding
(FIIs, FCs, FFI, NRIs, OCBs, or Others) |
30.00 |
|
Bodies Corporate |
70.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To provide direct-to-home (DTH) broadcasting services to cable TV viewers across the country. |
GENERAL INFORMATION
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||
|
Facilities: |
Note: Loan from Banks, Acceptances and Buyer’s Credit are secured by hypothecation and pari-passu charge on the current assets including inventory and Fixed assets of the company.)
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Banking Relations
: |
-- |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Auditors : |
|
||||||||||||||||||||||||||||||||||||
|
Name 1 : |
S. R. Batliboi and Associates Chartered Accountants |
||||||||||||||||||||||||||||||||||||
|
Address : |
6th Floor, |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name 2 : |
Deloitte Haskins and Sells Chartered Accountant |
||||||||||||||||||||||||||||||||||||
|
Address : |
12, |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Holding Company : |
Tata Sons Limited CIN No. U99999MH1917PLC000478 |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Subsidiaries : |
· Tata Consultancy Services Limited · Tata AIG Life Insurance Company Limited · Tata Teleservices Limited · ACTVE Digital Services Private Limited CIN No.: U64120MH2006PTC159808 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
Rs.10/- each |
Rs.20000.000
Millions |
|
|
|
|
|
Issued and Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
843093333 |
Equity Shares |
Rs.10/- each |
Rs.8430.933
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
8430.933 |
7904.000 |
6177.600 |
|
|
2] Share Application Money |
1188.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
9054.067 |
8000.200 |
4547.400 |
|
|
4] (Accumulated Losses) |
[35313.394] |
[29047.283] |
[17527.796] |
|
NETWORTH
|
[16640.394] |
[13143.083] |
[6802.796] |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
11314.675 |
8468.296 |
6000.000 |
|
|
2] Unsecured Loans |
2199.421 |
1456.942 |
787.577 |
|
TOTAL BORROWING
|
13514.096 |
9925.238 |
6787.577 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
[3126.298] |
[3217.845] |
[15.219] |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
2551.089 |
2981.789 |
2989.083 |
|
Capital work-in-progress
|
550.982 |
518.781 |
418.266 |
|
|
|
|
|
|
|
INVESTMENT
|
1023.229 |
234.917 |
145.961 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS &
ADVANCES
|
|
|
|
|
|
|
Inventories
|
259.210
|
191.652
|
102.112
|
|
|
Sundry Debtors
|
187.978
|
103.473
|
89.758
|
|
|
Cash & Bank Balances
|
145.316
|
437.286
|
303.824
|
|
|
Other Current Assets
|
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances
|
1765.840
|
1718.879
|
1321.793
|
Total Current Assets
|
2358.344
|
2451.290
|
1817.487
|
|
Less :
CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Sundry Creditors
|
|
|
|
|
|
Other Current Liabilities
|
|
|
|
|
|
Provisions
|
1058.995
|
2067.537
|
600.472
|
Total Current Liabilities
|
9609.942
|
9404.622
|
5386.016
|
|
Net Current Assets
|
[7251.598]
|
[6953.332]
|
[3568.529]
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
[3126.298] |
[3217.845] |
[15.219] |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
11107.778 |
8020.859 |
5124.408 |
|
|
|
Other Income |
20.761 |
34.223 |
40.223 |
|
|
|
TOTAL (A) |
11128.539 |
8055.082 |
5164.631 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase made for re-sale |
3889.911 |
4418.177 |
2750.079 |
|
|
|
Salaries, Wages and bonus |
949.262 |
1000.068 |
1060.988 |
|
|
|
Managerial Remuneration |
19.501 |
16.916 |
14.567 |
|
|
|
Payment of Auditors |
6.273 |
5.993 |
5.042 |
|
|
|
Insurance Expenses |
4.382 |
5.843 |
9.079 |
|
|
|
Power and Fuel |
45.948 |
50.515 |
52.476 |
|
|
|
Other Expenses |
9665.668 |
11749.931 |
8341.839 |
|
|
|
|
|
|
|
|
|
|
TOTAL (B) |
14580.945 |
17247.443 |
12234.070 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
[3452.406] |
[9192.361] |
[7069.439] |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1317.913 |
974.721 |
511.845 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
[4770.319] |
[10167.082] |
[7581.284] |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1495.792 |
1335.043 |
993.705 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
[6266.111] |
[11502.125] |
[8574.989] |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
17.361 |
24.549 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
[6266.111] |
[11519.486] |
[8599.538] |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
129047.283 |
[17527.797] |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
[135313.394] |
[29047.283] |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
[7.58] |
[16.47] |
[15.19] |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
PAT / Total Income
|
(%)
|
(56.31) |
(143.01) |
(166.51)
|
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
(56.41) |
(143.40) |
(167.34)
|
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
(127.63) |
(211.71) |
(178.40)
|
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
(0.38) |
(0.88) |
(1.26)
|
|
|
|
|
|
|
Debt Equity Ratio
(Total Liability/Networth) |
|
(1.39) |
(1.47) |
(1.79)
|
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
0.25 |
0.26 |
0.33
|
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The Registered office of the
company has been shifted from Army and Navy Building, 148, Mahatma
Gandhi Road, Mumbai-400001, Maharashtra, India, to the present address w.e.f.
29.05.2006.
Background:
Subject was incorporated in
Operations:
During the year, the company
crossed the milestone of 6 Millions connections. This has been achieved while
retaining the market leadership of the DTH sector with a value share of 37%.
The DTH sector has now become a six player industry with over 22 million
connections reported by March 2010.
Sales and Field Services:
The company integrated its Sales
and Services terms with a view to achieve greater cost efficiencies and better
market response. The integration
exercise has been achieved successfully despite the increasing emphasis on
outsourcing and reducing direct manpower. New innovative initiatives as the
roll-out of Experience Zones to expand reach, facilities recharging of accounts
and up-sell subscribers has made good progress.
Customer Services:
Customer services operations have
been enhanced and supplemented with continuous improvement through a voice
recognition platform, short codes enabled for SMS and a revamp of Self-care.
The company continues to optimize resources by evaluating cost effective
options such as third party and mini call centres and for outbound calling. The
cost of servicing has significantly dropped during the year with the deployment
of these tools in addition, a close interaction with the field service teams
has helped reduce repeat calls.
IT:
The company has launched systems
and tools such as Electronic Voucher Distribution (EVD), automated dealers
which would replace the high cost systems for electronic voucher distribution
and the cost of calling.
To prepare themselves or
aggressive growth a process has been initiated for capacity planning and design
in terms of the next leap for the IT system Profotypes for the futuristic
solutions such as Cloud computing have been successfully tested.
Channels:
The company has introduced 14 new
channels during the year which were picked considering the regional popularity
and premium content. These include WB. TCM, MGM, ET Now, Discovery Science, IBN
Lokmat, Zee Talkies etc.
The company also introduced new
add-on packs such as Cosmo (bouquet of English movie channels) and Active
English – Content developed in-house by the company in collaboration with
British Council. This has got a significant response from subscribers.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U92120MH2001PTC130365 |
|
Name of the
company |
TATA SKY LIMITED |
|
Address of the registered
office or of the principal place of
business in |
3rd Floor, |
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts Movable Property Uncalled Share Capital Others Goodwill |
|
Particular of
charge holder |
IDBI Bank Limited, |
|
Nature of
instrument creating charge |
Deed of
Hypothecation |
|
Date of instrument
Creating the charge |
27.03.2010 |
|
Amount secured by
the charge |
Rs. 1000.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: 8.5% p.a. Terms of
Repayment: Bullet Repayment on
completion of 18 months form the date of first disbursement Extent and
operation of the charge: As per the Deed
of Hypothecation |
|
Short particulars
of the property charged |
First pari passu
charge by way of hypothecation of all the borrower’s assets as described in
Schedules I, II, III and IV of the Deed of Hypothecation. |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U92120MH2001PTC130365 |
|
Name of the
company |
TATA SKY LIMITED |
|
Address of the
registered office or of the principal place of business in |
3rd Floor, |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Standard
Chartered Bank, 920, |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of
hypothecation of Current and Movable Assets |
|
Date of
instrument Creating the charge |
29.09.2006 |
|
Amount secured by
the charge |
Rs. 2500.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest LC Facility, Interest/
Commission: At the rate as negotiated with agreed by the bank. Guarantees,
Commission: At the rate as negotiated with and agreed by the bank. Term Loan,
Interest: For 1st Drawdown: 9.25% p.a. subject ot market
condition. Subsequent drawdowns, at rate as negotiated with and agreed by the
bank. Terms of
Repayment LC Facility:
Tenor, Maximum upto 180 days (Validity + Usance) Guarantees:
Tenor, Maximum upto 180 Days Term Loan, Tenor:
Maximum upto 24 months from the daste of first drawdown. Margin As applicable, if
any. Extent and
Operation of the charge Hypothecation by
way of first charge to the bank. a) All the stock in trade both present and
future b) All the present and future book debts,
outstanding moneys receivables, claims and bills c) All Movable plant and machinery, being
movable properties, now stored at or being stored with may hereafter be
bourght into or stored or at present installed at various place |
|
Short particulars
of the property charged |
Hypothecation by
way of first charge to the bank. d) All the stock in trade both present and
future e) All the present and future book debts,
outstanding moneys receivables, claims and bills All Movable plant
and machinery, being movable properties, now stored at or being stored with
may hereafter be bourght into or stored or at present installed at various
place |
Fixed
Assets:
- Office
equipment
- Computer
Equipment
- Plant
and Machinery
- Motor
Vehicles
- Furniture
and Fixtures
- Leasehold
Improvements
Website Details:
COMPANY OVERVIEW:
Subject provides satellite television broadcasting services
in
REVOLUTIONISE TELEVISION VIEWING
Subject is set to revolutionize television viewing in
EXTENSIVE CUSTOMER SERVICE NETWORK
Subject has established
an extensive customer service network across the country. It has engaged a field
force of approximately 3000 service engineers who are complemented by high-end
24x7 call centers, manned by multi-lingual customer service associates, trained
to solve all customer problems.
Subject takes
direct responsibility for installing and servicing the hardware at every
subscriber's home, thereby ensuring the highest levels of customer service.
Subject retails its
hardware and prepaid recharge vouchers through popular consumer electronic
stores to enhance customer convenience.
OFFERING
In addition to new channels and
exciting interactive features, Subject
offers all popular television channels, thus becoming a one-stop shop for all
the television entertainment needs of customers.
PARTNERS
Subject has invested in
state-of-the-art digital infrastructure and has partnered with global leaders
in digital technology for the pay television market.
SATELLITE:
Subject
has leased all 12 Ku-Band
transponders on ISRO’s Indian satellite, INSAT 4A, the most advanced and
high-powered KU-Band communication satellite in the region, developed keeping
in mind local requirements. The satellite enables Subject to offer superior picture and sound quality with a wider
range of channels.
BUSINESS SUPPORT SOFTWARE:
NDS: Subject has partnered
with NDS, the provider of technology solutions for pay television. NDS systems
has played a key role in the end-to-end system architecture and launching the
nationwide digital service. The NDS Video Guard conditional access solution
provides superior broadcast security, and enables Subject to offer multiple
programming and pricing packages.
Siebel: Subject has
selected Siebel, leaders in Customer Relationship Management (CRM) software, to
support operations across the areas of call centre and field service
operations, customer order management and product configuration.
Kenan: Comverse’s Kenan FX billing software has been selected to support
billing for all residential, institutional and commercial customers. The Kenan
software has been enhanced specifically for Subject, to support a first in industry pre-paid billing
capability which will provide customers convenient payment options.
SAP: SAP the leading Enterprise Resource Planning (ERP) application
suite, has been selected by Subject to
support the company’s materials management, sales and distribution, finance and
control and human resources requirements.
IT:
Sun Microsystems: Subject has
selected Sun Microsystems to provide world-class technology infrastructure,
which helps the company to deliver high-level service standards for its
Satellite Television service. The servers ensure maximum up-time, fault
recovery and load management. Sun has also provided Subject with installation,
engineering expertise and support.
DIGICOMP:
Subject has partnered
with Thomson and Humax, world leaders in digital broadcast technology for
building top-of-the line digicompsTM, customised specifically for the Indian
markets. The technology’s feature rich design enables Subject to deliver multiple programming, pricing packages
and interactive services to its customers.
Incorporated in 2004, Subject is
an 80:20 Joint Venture between TATA and STAR. Subject endeavours to offer Indian viewers a world-class
television viewing experience through its Satellite Television service.
The SKY brand, owned by the UK-based British Sky Broadcasting Group, brings to Subject the reputation of more
than 20 years experience of satellite broadcasting. SKY is well known for the
innovative products and services launched by BSkyB, such as DTH broadcasting in
1989, digital satellite broadcasting in 1998, interactive television services
in 1999 and the SKY+ personal video recorder in 2001. Subject joins an international group of DTH businesses that
includes platforms as far apart as the
The Tata Group is one of
Pressroom:
MICKEY,
MINNIE, DONALD, GOOFY… TATA SKY BRINGS ALIVE THE MAGIC OF DISNEY
Offers Tata Sky Subscribers Disney stories-on-demand, games and more
New Delhi, 06 August 2009 : In
a first-of-its-kind initiative, Tata Sky Limited,
the JV between the TATA Group and STAR, today announced a special content
alliance with The Walt Disney Company India to bring alive the magical world of
Disney and its favourite characters on its Interactive platform, Actve
Stories and Actve Wizkids.
The magical world of Disney offers Tata Sky subscribers
especially children of all age group the very best of Disney stories from fairy
tales like Cindrella, Snow White and Winnie the Pooh to the new Disney
favourites such as Cars and Lilo and Stitich on Actve Stories in an extremely interactive and
fun-loving manner. On Actve Stories, children would be able to enjoy a
brand new Disney story everyday, anytime of the day.
On Actve Wizkids, children can enjoy a wide array of games
featuring the most popular Mickey Mouse Tennis Challenge or simply go on a
Holiday Hunt with Chip and Dale. And that’s not all… kids will be
introduced to fun facts about the Disney stories and characters through
interstitial pages on Actve Stories and Actve Wizkids. These pages will
offer interesting factoids that will help boost their knowledge i.e. Chip and
Dale are known as Tic and Tac in French and the fact that Mickey Mouse gas
masks were made in
Additionally, Tata Sky subscribers can access Disney Stories and Games through
‘Red Button’ on Disney and Toon Disney channel that will
give subscribers exclusive access to entertaining and educational content.
Mr. Vikram Mehra, Chief Marketing Officer, Tata Sky said,
“We are very excited to enter into this alliance with Disney as our focus has
always been on ‘edutainment’, by offering our subscribers uninterrupted
entertainment along with education. The new features will offer our young
subscribers a wonderful, educational experience with their favorite Disney
stories and characters as it covers a wide variety of engaging options from
stories to games and other interesting and fun activities.”
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 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.44.65 |
|
|
1 |
Rs.71.92 |
|
Euro |
1 |
Rs.63.24 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.