MIRA
INFORM REPORT
|
Report Date : |
29.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
NEO SPORTS BROADCAST PRIVATE LIMITED (w.e.f 30.10.2006) |
|
|
|
|
Formerly Known
As : |
NIMBUS SPORTS BROADCAST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Nimbus Centre, Oberoi Complex, Andheri (West), Mumbai-400053, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
17.03.2006 |
|
|
|
|
Com. Reg. No.: |
11-160563 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.480.476 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92411MH2006PTC160563 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN13882B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCN2854Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Television Broad Casting
(Telecast Programmes) |
|
|
|
|
No. of Employees
: |
Information Denied |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Financial position of the company can be regarded as poor having huge
accumulated losses. Trade relations are fair. Payments are reported as slow
and delayed. Hence, the company can be considered for normal business dealings with
some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
|
Name : |
Mr. Prabudhandas Gupta |
|
Designation : |
Senior Finance Manager |
|
Date : |
28.12.2011 |
LOCATIONS
|
Registered Office : |
Nimbus Centre, Oberoi Complex, Andheri (West), Mumbai-400053, |
|
Tel. No.: |
91-22-26352000 |
|
Fax No.: |
91-22-26352123 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Top 5 Floors ( Owned by group Company) |
|
Location : |
Owned |
|
|
|
|
Branches : |
Located at :-
|
|
Area : |
Rented |
|
|
|
|
Distribution
Contacts : |
Arun Poddar, President- Affiliate Sales and Platforms, Board Line:
91-22-26352000, Ext No. 104 Email ID : apoddar@neosports.tv
|
|
|
|
|
International
and Syndication : |
Vikram Das – Senior VP, International and Syndication Tel No. : 91-22-26352000 Extn: 193 Email ID : vdas@neosports.tv |
|
|
|
|
HR : |
Tel No. 91-22-26352000 |
|
|
|
|
Marketing and
Media Queries : |
Contact Person : Abhishek Verma – Head – Marketing Contact No: 91-22-26352192 Email ID: averma@neosports.tv |
|
|
|
|
Ad Sales : |
West : Raju Udupa Executive Vice President- Advertising Revenue Contact No: 91-22-26352000 / 26352121 Email ID : rudupa@neosports.tv Ravalnath Joshi General Manager - Advertising Revenue Contact no: 91-22-26352000 / 26352121 Email id : rjoshi@neosports.tv Shonima Kaul General Manager: Advertising Contact No: 91-22-26352000 / 26352121 Email ID : skaul@neosports.tv
Rajiv Bose Associate Vice President- Advertising Revenue Contact No:91-11-46086666 Email ID : rbose@neosports.tv Chhavi Bhalla Associate Vice President- Advertising Revenue Contact No: 91-11-46086666 Email ID : cbhalla@neosports.tv South : Santosh Koshy General Manager- Advertising Revenue Contact No: 91-80 – 25550748 Email ID : skoshy@neosports.tv |
DIRECTORS
As on 15.12.2010
|
Name : |
Mr. Harish Kanayalal Thawani |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
701, Rendezvous, 120-121, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.04.1959 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
17.03.2006 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01082908 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Akash Chandra Khurana |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
19, Dunhill, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.02.1953 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
17.03.2006 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01220599 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Girish Kumar Gupta |
|
Designation : |
Secretary |
|
Address : |
67, Guru Ram Dass Nagar, Laxmi Nagar, |
|
Date of Birth/Age : |
16.02.1963 |
|
Date of Appointment : |
06.08.2010 |
|
Pan No.: |
AHLPB3293J |
|
|
|
|
Name : |
Mr. Rajasekharan Harikrishnan |
|
Designation : |
EVP – Technical and Ops |
|
Qualification : |
Diploma in Electronic and Communication Engineering |
|
Experience : |
21 Years |
|
Date of Commencement : |
01.06.2006 |
|
Previous Employment : |
NDTV |
|
|
|
|
Name : |
Sonali Rege |
|
Designation : |
Associates VP Production |
|
Qualification : |
BA |
|
Experience : |
13 Years |
|
Date of Commencement : |
01.09.2006 |
|
Previous Employment : |
Star India Private Limited |
|
|
|
|
Name : |
Mr. Arun Poddar |
|
Designation : |
President – Affiliate Sales and Platforms |
|
Qualification : |
MBA |
|
Experience : |
23 Years |
|
Date of Commencement : |
03.07.2007 |
|
Previous Employment : |
Zee Turner Limited |
|
|
|
|
Name : |
Mr. Mahipal Singh |
|
Designation : |
VP – Affiliates Sales (North) |
|
Qualification : |
Masters in Tourism Administration |
|
Experience : |
16 Years |
|
Date of Commencement : |
01.08.2007 |
|
Previous Employment : |
Zee Turner Limited |
|
|
|
|
Name : |
Supriyo Roy |
|
Designation : |
VP – Affiliates Sales (East) |
|
Qualification : |
B.Com |
|
Experience : |
16 Years |
|
Date of Commencement : |
06.09.2007 |
|
Previous Employment : |
Star India Private Limited |
|
|
|
|
Name : |
Mr. Girish |
|
Designation : |
AVP – Legal and Company Secretary |
|
Qualification : |
LLB, FCS, PGDBM |
|
Experience : |
19 Years |
|
Date of Commencement : |
17.09.2007 |
|
Previous Employment : |
Zee Turner Limited |
|
|
|
|
Name : |
Mr. Mautik Tolia |
|
Designation : |
EVP- Programming |
|
Qualification : |
BA, MA, Msc |
|
Date of Commencement : |
02.01.2008 |
|
Previous Employment : |
Nimbus Communication Limited |
|
|
|
|
Name : |
Naina Toor Singh |
|
Designation : |
Head – Promotion |
|
Qualification : |
BFA Diploma in Animation |
|
Experience : |
9 Years |
|
Date of Commencement : |
01.02.2008 |
|
Previous Employment : |
|
|
|
|
|
Name : |
Mr. Raju Udupa |
|
Designation : |
EVP Advertising Revenue |
|
Qualification : |
B.Sc |
|
Experience : |
15 Years |
|
Date of Commencement : |
01.04.2009 |
|
Previous Employment : |
UTV |
|
|
|
|
Name : |
Mr. Pankaj Maheswari |
|
Designation : |
Associate VP – Affiliate Accounts |
|
Qualification : |
CA |
|
Experience : |
12 Years |
|
Date of Commencement : |
13.07.2009 |
|
Previous Employment : |
NDTV Imagine Limited |
|
|
|
|
Name : |
Mr. Prasana Krishnan |
|
Designation : |
COO |
|
Qualification : |
MBA in Finance, Advance Management Programmed in Strategic Management |
|
Experience : |
12 Years |
|
Date of Commencement : |
01.08.2009 |
|
Previous Employment : |
Athur Anderson |
|
|
|
|
Name : |
Mr. Narinder Pal Singh |
|
Designation : |
Sr. VP – Affiliate Sales |
|
Qualification : |
PG in Industrial Relation and Personnel Management |
|
Experience : |
14 Years |
|
Date of Commencement : |
17.08.2009 |
|
Previous Employment : |
Reliance Big Broadcasting |
|
|
|
|
Name : |
Mr. Ashish Bahl |
|
Designation : |
VP – Marketing |
|
Qualification : |
PGDM |
|
Experience : |
12 Years |
|
Date of Commencement : |
03.05.2010 |
|
Previous Employment : |
Contract Advertising |
|
|
|
|
Name : |
Mr. Dilip Sharan |
|
Designation : |
EVP – Distribution Platforms |
|
Qualification : |
MBA in Marketing |
|
Experience : |
20 Years |
|
Date of Commencement : |
14.07.2010 |
|
Previous Employment : |
Zee Turner Limited |
|
|
|
|
Name : |
Mr. Hari Mathur |
|
Designation : |
Sr. VP Finance and Accounts |
|
Qualification : |
CA |
|
Experience : |
18 Years |
|
Date of Commencement : |
23.06.2008 |
|
Previous Employment : |
Radio Mid Day |
|
|
|
|
Name : |
Mr. Abhishek Verma |
|
Designation : |
AVP – Marketing |
|
Qualification : |
PG in Management |
|
Experience : |
10 Years |
|
Date of Commencement : |
02.06.2008 |
|
Previous Employment : |
Sony Entertainment |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.12.2010
|
Names of Shareholders (Equity Share) |
|
No. of Shares |
|
Zenith Sports Private Limited, |
|
2999900 |
|
Harish Thawani |
|
100 |
|
Nimbus Communication Limited, |
|
1 |
|
Funderburk Enterprises Limited , |
|
3475 |
|
Bennett Coleman and Company Limited |
|
2 |
|
TOTAL |
|
3003478 |
|
Names of Shareholders (Preferences Share) |
|
No. of Shares |
|
Nimbus Communication Limited, |
|
44700000 |
|
Funderburk Enterprises Limited , |
|
344098 |
|
TOTAL |
|
45044098 |
Equity Share Break up (Percentage of Total Equity)
As on 15.12.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
0.72 |
|
Bodies corporate |
99.28 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Television Broad Casting
(Telecast Programmes) |
GENERAL INFORMATION
|
Customers : |
|
|||||||||
|
|
|
|||||||||
|
No. of Employees : |
Information Denied |
|||||||||
|
|
|
|||||||||
|
Bankers : |
|
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Anil A. Masand and Company Chartered Accountants |
|
Address : |
3 Sheva Apartments, 33-B, |
|
Tel. No.: |
91-22-26482720 / 26052711 |
|
Mobile No.: |
91-22-26057222 |
|
PAN.: |
AAFPM3445C |
|
|
|
|
Holing Company: |
Zenith Sports Private Limited (formerly known as Jupiter Holding Private Limited) CIN No.: U67120MH2004PTC148853 |
|
|
|
|
Associates/Subsidiaries : |
|
|
|
|
|
Ventures in which key management personnel have significant influence
: |
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
45200000 |
Preference Shares |
Rs.10/- each |
Rs.452.000 Millions |
|
|
TOTAL |
|
Rs.502.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3003478 |
Equity Shares |
Rs.10/- each |
Rs.30.035
Millions |
|
44700000 |
Preference Shares (non cumulative, non convertible, redeemable in maximum 20 Years) |
Rs.10/- each |
Rs.447.000
Millions |
|
344098 |
Preference Shares (Compulsory convertible non cumulative
preference shares) |
Rs.10/- each |
Rs.3.441
Millions |
|
|
TOTAL |
|
Rs.480.476 Millions |
Of the above
1) 3000000 equity share held by zenith sports
private Limited
2) Preference share are issued to nimbus
communication limited at a share premium of Rs.90 per share (non cumulative,
non convertible, redeemable)
3) Compulsory convertible non cumulative
preferences shares are issued to Funderburk Enterprises Limited at share
premium of Rs.1819 each)
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 |
480.476 |
477.000 |
477.000 |
|
|
2] Share Application Money |
6.670 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4655.247 |
4023.000 |
4023.000 |
|
|
4] (Accumulated Losses) |
(11587.412) |
(8209.478) |
(6302.632) |
|
|
NETWORTH |
(6445.019) |
(3709.478) |
(1802.632) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
49.520 |
51.520 |
51.520 |
|
|
TOTAL BORROWING |
49.520 |
51.520 |
51.520 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
(6395.499) |
(3657.958) |
(1751.112) |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
64.000 |
90.453 |
97.071 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
8.072 |
|
|
|
|
|
|
|
|
Intangible Assets |
1.143 |
1.905 |
2.666 |
|
|
|
|
|
|
|
|
INVESTMENT |
70.085 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
13.885 |
1.784
|
1.422 |
|
|
Sundry Debtors |
1461.845
|
840.313
|
666.138 |
|
|
Cash & Bank Balances |
160.616
|
715.440
|
49.592 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
424.965
|
136.921
|
688.331 |
|
Total
Current Assets |
2061.311
|
1694.458
|
1405.483 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8223.210 |
5086.481 |
2605.862 |
|
|
Other Current Liabilities |
353.114
|
326.590 |
248.586 |
|
|
Provisions |
26.712
|
53.698 |
442.949 |
|
Total
Current Liabilities |
8603.036
|
5466.769 |
3297.397 |
|
|
Net Current Assets |
(6541.725)
|
(3772.311) |
(1819.914) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
10.998 |
21.995 |
32.993 |
|
|
|
|
|
|
|
|
TOTAL |
(6395.499) |
(3657.958) |
(1751.112) |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
|
|
|
Income |
4089.249 |
3502.429 |
2651.512 |
|
|
|
Other Income |
|
25.788 |
37.377 |
|
|
|
TOTAL (A) |
4089.249 |
3528.217 |
2688.889 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
License Fees / Programme Amortization |
|
4672.764 |
5567.982 |
|
|
|
Personal Expenses |
|
139.581 |
116.640 |
|
|
|
Administrative and Other Expenses |
|
466.952 |
395.658 |
|
|
|
TOTAL (B) |
7467.183
(Including Financial expenses and Depreciation) |
5279.297 |
6080.280 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(1751.080) |
(3391.391) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
127.627 |
103.540 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(1878.707) |
(3494.931) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
25.757 |
17.609 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(3377.934) |
(1904.464) |
(3512.540)| |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.000 |
2.382 |
1.961 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
(3377.934) |
(1906.846) |
(3514.501) |
|
|
|
|
|
|
|
|
|
Add |
Net
Profit Before Extra Ordinary and Prior
Period Items |
0.000 |
0.000 |
64.285 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
NA |
(1906.846) |
(3450.215) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Broadcast Income |
141.054 |
145.170 |
151.484 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(70.30) |
(39.68) |
(73.15) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
82.61
|
(54.05) |
(1.31) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(54.38) |
(132.47) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(158.93)
|
(106.70) |
(233.77) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.52
|
0.51 |
1.95 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(1.34)
|
(1.49) |
(1.86) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.24
|
0.31 |
0.43 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF
CREDITORS
|
Particulars |
As on 31.03.2010 (Rs. In Millions ) |
As on 31.03.2009 (Rs. In Millions ) |
As on 31.03.2008 (Rs. In Millions ) |
|
Sundry Creditor |
|
|
|
|
Trade Creditors |
|
|
|
|
Creditors for Admininstration |
16.706 |
1.802 |
1.618 |
|
Creditors for Affiliate sales |
12.578 |
8.660 |
0.383 |
|
Creditors for Marketing |
13.121 |
24.465 |
17.224 |
|
Creditors for Capital Expenditure |
1.195 |
0.119 |
0.000 |
|
Creditors for Programming |
0.000 |
0.000 |
1.470 |
|
Creditors for Technical and Operation |
14.451 |
18.566 |
16.058 |
|
Creditors for Program Acquisition |
24.850 |
22.241 |
17.288 |
|
Creditors for Production Expenses |
5.730 |
2.644 |
3.041 |
|
Total |
88.631 |
78.497 |
57.082 |
|
|
|
|
|
|
Other Creditors |
|
|
|
|
Creditors for Finance |
1.176 |
4.238 |
15.399 |
|
Creditors for Human Resources |
3.626 |
0.334 |
0.408 |
|
Staff Advances |
2.380 |
1.670 |
1.857 |
|
Total |
7.182 |
6.242 |
17.664 |
|
|
|
|
|
|
Trade Creditors – Related Parties |
|
|
|
|
Nimbus Communications Limited(Maximum amount outstanding during the
period Rs.5277.931 Millions (P.Y.2522.009 Millions) |
7332.260 |
4593.249 |
2310.914 |
|
Nimbus Sports International Private Limited |
795.137 |
408.493 |
220.202 |
|
Total |
8127.397 |
5001.742 |
2531.116 |
|
|
|
|
|
|
TOTAL |
8223.210 |
5086.481 |
2605.862 |
INVESTMENT IN NEO
BROADCAST LIMITED
The Company had invested in (On June 11, 2010), 4,750,000 equity shares of Neo Broadcast Limited (Formerly known as Nirvana Adzone Limited) by virtue of which, Neo Broadcast Limited became a subsidiary of Neo Sports Broadcast Private Limited.
CONTINGENT LIABILITY
- The company has obtained a letter of credit for USD Nil (Previous
Year USD 214200) in favour of Intelsat Corporation
- Assignment of receivables with resources under factoring agreement
with a third party Rs.133.376 millions (previous year 31st
march 2009 Rs. NIL)
FORM 8
|
Corporate identity
number of the company |
U92411MH2006PTC160563 |
|
Name of the
company |
Neo Sports
Broadcast Private Limited |
|
Address of the
registered office or of the principal place of business in |
Nimbus Centre, Oberoi Complex, Andheri (West), Mumbai-400053, Email : compliance@nimbus.co.in |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Others |
|
Particular of
charge holder |
Punjab National
Bank , Large Corporate Branch, Email: pnbifb@vsnl.com |
|
Nature of
instrument creating charge |
Supplemental
composite deed of mortgage cum charge |
|
Date of
instrument Creating the charge |
14.11.2011 |
|
Amount secured by
the charge |
Rs. 500.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest:
Base Rate + 3.25% i.e. 14% p.a. to be paid on monthly basis by Nimbus
Communications Limited. The interest rate shall change with the change in the
base rate. Terms of
Repayment: Repayable in 2 installments of Rs.250.000 millions each from March
and April 2012 by Nimbus Communications Limited Margin: Nil Extent and
operation of the charge: The charge to operate to the extent of the entire
Short Term Loan of Rs. 500.000 millions plus interest thereon availed by
Nimbus Communications Limited from Punjab National Bank. Others: Neo
Sports Broadcast Private Limited has provided security on behalf of Nimbus
Communications Limited to Punjab National Bank for the Short Term Loan of
Rs.500.000 millions provided by PNB by way of creating charge on its Current
Assets and Fixed Assets. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
PRIMARY SECURITY a)First pari
passu charge on revenues arising from the sale/licensing of BCCI Media Rights
for events taking place in the period 1 Apr 2010 to 31 Mar 2014 by way of i)
Advertisement
revenues generated on NEO Cricket from telecast of international matches-Revenue
estimated Rs.12130.000 millions ii)
Domestic
distribution revenues of NEO Sports-Revenue estimated Rs.9900.000 millions iii)
International
licensing revenues from licensing of media rights to international
broadcasters and other licensees-Revenue estimated Rs.4460.000 millions iv)
Revenue
from international distribution of NEO Cricket-Revenue estimated Rs.1120.000
millions b) First pari
passu charge on entire current assets including Present and future book
debts, outstanding decrees, money receivables, etc. (c) Assignment of
Insurance policies of One Day/T20 International Matches. c) First pari
passu charge on entire current assets of the Neo Sports Broadcast Private
Limited including Present and future book debts, outstanding decrees, money
receivables etc. d) Escrow
Account/Trust Retention Accounts e) First pari
passu charge on all fixed assets of Neo Sports Broadcast Private Limited |
FIXED ASSETS
- Computer Hardware
- Computer Software
- Furniture and Fixtures
- Office Equipment
- Plant and Machinery
- Motor Car
PRESS RELEASE
NEO SPORTS TO BROADCAST WORLD SERIES HOCKEY
Path Breaking Broadcast plan for 61live prime time matches
November 1, 2011
Neo Sports will be the exclusive broadcast partner for World
Series Hockey in the Indian Sub Continent. The inaugural edition of the league
will be held from Saturday, 17th December
to Sunday, 22nd January and will feature 8
teams, 37 days of non stop action and 61 prime time matches that will be
broadcast live. The broadcast plan has been strategically designed to ensure
complete prime time playout in
FOR IMMEDIATE
RELEASE:
14th October,
2011
Neo Cricket would like to clarify the circumstances under
which cricket fans were deprived of the broadcast of the first few balls of
today’s first ODI between
1. On August 30th 2011,
the Licensed Broadcaster in
2. This notification was made 45 days before the first scheduled match of the Event and in full compliance with the Sports Broadcast Signal (Mandatory Sharing with Prasar Bharati) Act, 2007 (“Sports Act”)
3. Despite repeated follow ups from Neo Cricket, including 3 letter reminders and multiple phone calls, Prasar Bharati refused to confirm on whether it wanted to share the live broadcast of the Event or not. Finally on 9th October 2011, a mere 5 days before the first match and a whole 40 days after receiving the original notification letter, Prasar Bharati wrote an email to Neo confirming that it wanted to share the Live feed of the match and asking for a meeting on the next day to appoint the Revenue Management Company (“RMC”) for the Event
4. The RMC is the company responsible for selling advertising on the broadcast of the match on Doordarshan and is appointed by a process in which both the Rights Holder (Neo) and Prasar Bharati are required to make sealed Bids.
5. The RMC meet was held on the evening of 10th October, as instructed by Prasar Bharati, and following the sealed Bid process, the RMC was awarded to Neo.
6. On the 12th of October 2011, Prasar Bharati submitted a draft agreement to Neo for comments and signature. In the said draft agreement Prasar Bharati clearly stated that it wanted
Neo to submit a BG for approx INR 4 crores i.e. Prasar Bharati’s share, within
5 days of signing of the agreement.
7. Given that the draft agreement was sent to Neo by Prasar Bharati on 12th of October, it was expected that the agreement would be signed on the 13th or 14th and thus the BG would be submitted on the 19th or 20th of October 2011 (i.e. 5 dates after signing)
8. But instead, after close of business hours on 13th October at 7pm
Furnished 5 days after the agreement was signed.
9. Neo was obviously taken aback by this unreasonable demand of Prasar Bharati and requested a meeting to discuss the same
10. At a meeting this morning with relevant officials, Neo
was given no choice but to accede to the demand of Prasar Bharat to ensure that
the cricket loving public in
11. This payment was made to and duly acknowledged by Prasar Bharati
12. Despite the above, the uplink license to BCCI and Neo Cricket was issued past the match start time of 2:30 pm today resulting in no coverage for the first few balls of the Event Neo Cricket is deeply disappointed by what it believes could be construed to be unreasonable behaviour by Prasar Bharat and intends to approach the Government of India after consultation with Industry bodies with a request that appropriate rules be framed to govern future events such that the process and rules governing the sharing of events with Prasar Bharati are equitable and reasonable.
NEO SPORTS BAGS EXCLUSIVE BROADCAST RIGHTS FOR
EURO 2012
Continues acquisition spree to emerge as the preferred sports destination
Mumbai, 1st
August, 2011
NEO Sports, a premium all Sports Channel from the bouquet of NEO Sports Broadcast Pvt. Ltd., has acquired the exclusive broadcast rights of Euro 2012 in the Indian Sub Continent (India, Pakistan, Sri Lanka, Bangladesh, Nepal, Bhutan and Maldives)
UEFA Euro 2012 will be played amongst the top 16 European
teams in June 2012. The premier event will be held in
This is a significant partnership between UEFA and Neo Sports and covers UEFA Euro 2012, 2013 UEFA European Under 21 Championship and the UEFA Women’s Euro 2013
Prasana Krishnan, COO, NEO Sports Broadcast Private Limited said, “This acquisition is a significant step towards delivering on the overall brand promise of Neo Sports as a premium sport destination. This is by far one of the most high profile soccer events and will definitely garner high quality viewer ship for the channel.”
Rugby World Cup 2011,
Mumbai, July 18th, 2011: NEO Sports, a
premium all Sports Channel from the bouquet of NEO Sports Broadcast Private
limited, brings Rugby World Cup 2011 widely regarded as one of the world’s most
significant event starting September 9th 2011 to October 23rd 2011 in
Since the inaugural Rugby World Cup in 1987, it has established itself as one of the world’s most keenly awaited sporting occasions.
Rugby World Cup in
The format will comprise of 20 teams and 48 matches with 4 pools of 5 teams each. There will be 4 quarter-finals, 2 semi-finals, 1 Bronze Final and 1 Final which makes it 8 knock out matches
Rugby World Cup Limited Managing Director Mike Miller said: "This announcement represents a significant boost for the growth of the Game worldwide.”
“
“Neo Sports is widely recognized as a leader in sports
broadcasting in
According to Prasana Krishnan, COO, NEO Sports Broadcast Private Limited “Our strategy has always been to bring in the best of global events catering to diverse viewer interest. Hence, in the same endeavor to bring the best of every sport, this year too we will be telecasting Rugby World Cup, one of the largest international sporting spectacles in the world. We look forward to an exciting tournament.”
About NEO Sports Broadcast
Private Limited
NEO Sports Broadcast Private Limited owns and operates two channels i.e. NEO Cricket – the No. 1 sports channel for the year 2008, 2009 and 2010 in India by annual Gross rating points (Source- TAM 2008, 2009 & 2010) and NEO Sports – the premium all sports channel.
NEO Sports offers premium quality global sports including
top drawer Football, Tennis, Golf, Motoracing, Badminton to the Indian sports
lovers. This includes German Bundesliga, Italian Serie
NEO Cricket is the world’s first cricket centric TV channel and
currently broadcasted in more than 25 countries across
NEO Sports Broadcast Private Limited owns and operates two
channels i.e. NEO Cricket – the No. 1 sports channel for the year 2008, 2009
and 2010 in
NEO Sports offers premium quality global sports including
top drawer Football, Tennis, Golf, Motoracing, Badminton to the Indian sports
lovers. This includes German Bundesliga, Italian Serie
.
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.53.21 |
|
|
1 |
Rs.83.32 |
|
Euro |
1 |
Rs.69.51 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.