MIRA
INFORM REPORT
|
Report Date : |
25.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
NARNE NETWORKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
# 8-2-120/86/9/A, J R Towers, Flat No. 501, Road No. 2, Banjara Hills,
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2009 |
|
|
|
|
Date of
Incorporation : |
02.11.2007 |
|
|
|
|
Com. Reg. No.: |
056169 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92111AP2007PTC056169 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDN03261G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCN6982B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Production, Buying and Selling of TV Serials and Films. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 623692 |
|
|
|
|
Status : |
Recently commenced business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Though the company was incorporated in the year 2007. the company has
started its business operations recently. Trade relations are reported as
fair. Business is active. Payments terms are not known. The company can be considered for 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.
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 |
INFORMATION PARTED BY
|
Name : |
Mr. Srinivasan |
|
Designation : |
Accounts |
|
Contact No.: |
91-9010222445 |
|
Date : |
21.01.2011 |
LOCATIONS
|
Registered Office : |
# 8-2-120/86/9/A, J R Towers, Flat No. 501, Road No. 2, Banjara Hills,
|
|
Tel. No.: |
91-8413-422222 |
|
Mobile No.: |
91-9010222445 (Mr. Srinivasan) |
|
Fax No.: |
91-8413-422111 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Srinivasa Rao Narne |
|
Designation : |
Director |
|
Date of Appointment : |
02.11.2007 |
|
|
|
|
Name : |
Mrs. Malleswari Narne |
|
Designation : |
Director |
|
Date of Appointment : |
02.11.2007 |
KEY EXECUTIVES
|
Name : |
Mr. Srinivasan |
|
Designation : |
Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
List of Allotees
as on 31.12.2008
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mr. Srinivasa Rao Narne |
|
1138000 |
|
Mrs. Malleswari Narne |
|
180000 |
|
Total |
|
1318000 |
AS ON 30.09.2009
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Production, Buying and Selling of TV Serials and Films. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
150 (in office) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Chartered Accountant |
|
Address : |
10-1-17/1/1, Masabtank, |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,408,000 |
Equity Shares |
Rs.10/- each |
Rs. 24.080 Millions |
|
|
Share Application Money |
|
Rs. 50.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 74.080
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2010 |
|
Sales Turnover (Approximately) |
|
|
100.000 |
Expected Sales (2010-2011) : Rs. 200.000 Millions
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
24.080 |
10.900 |
|
|
2] Share Application Money |
|
50.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
95.920 |
43.200 |
|
|
4] (Accumulated Losses) |
|
(14.077) |
(0.650) |
|
|
NETWORTH |
|
155.923 |
53.450 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
132.393 |
0.000 |
|
|
2] Unsecured Loans |
|
2.500 |
0.000 |
|
|
TOTAL BORROWING |
|
134.893 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
290.816 |
53.450 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
147.349 |
15.042 |
|
|
Capital work-in-progress |
|
40.868 |
2.269 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
25.705 |
25.705 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
1.538 |
4.124 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
123.686 |
6.361 |
|
Total
Current Assets |
|
150.929 |
36.190 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
35.026 |
0.004 |
|
|
Other Current Liabilities |
|
4.795 |
0.047 |
|
|
Provisions |
|
8.509 |
0.000 |
|
Total
Current Liabilities |
|
48.330 |
0.051 |
|
|
Net Current Assets |
|
102.599 |
36.139 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
290.816 |
53.450 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
NIL |
|
|
|
Other Income |
|
|
NIL |
|
|
|
TOTAL |
|
|
NIL
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
|
4.916 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
(4.916) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
9.010 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
(13.926) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
|
-- |
-- |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
-- |
- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(1.64) |
- |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.03) |
- |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.17 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
3.12 |
709.60 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
|
Particulars |
31.03.2009 (Rs.
In Millions) |
31.03.2008 (Rs.
In Millions) |
31.03.2007 (Rs.
In Millions) |
|
Sundry Creditors |
35.026 |
0.004 |
NA |
Note – The Company incorporated in Nov. 2007, but it
has started its business activity from Mar. 2009
Note – The registered office address of the company
has been shifted from Flat
No.201, Susilpa Apartments, 281/A Mla
Colony Road, Road No12, Banjarahills, Hyderabad – 500034, Andhra Pradesh,
India, to present address w.e.f. 04.05.2010
Operations
The has been established to carry on the
business of production, acquisition, buying, selling, importing, exporting and
distribution of films, television serials and a;; types of audio and video
software, including video films, tele films, cartoon films etc. the company is
its first year of operation and is yet to start the commercial activity. The
company has not recorded any turnover but has incurred expenditure for the
running of business
FIXED ASSETS
- Land
- Plant and Machinery
- Furniture and Fixtures
- Vehicles
- Computer
Form 8
|
This form is for |
Creation of
charge |
||||||
|
Corporate identity
number of the company |
U92111AP2007PTC056169 |
||||||
|
Name of the
company |
NARNE NETWORKS PRIVATE LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
Flat No.201,
Susilpa Apartments, 281/ |
||||||
|
Type of charge |
Book Debts Movable Property Any interest in
immovable property |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of
description of the instrument creating or modifying the charge |
1. Agreement Of
Loan For Overall Limit In Form C.1 2. Agreement Of
Hypothecation Of Goods And Assets In Form C.2 3. Deed Of
Guarantee For Overall Limit In Form C.4 4. Letter
Regarding The Grant Of Individual Limits Within The Overall Limit In Form C.5 5. Memorandum For
Recording Creation Of Mortgage By Deposit Of Title Deeds |
||||||
|
Date of
instrument Creating the charge |
06.02.2009 |
||||||
|
Amount secured by
the charge |
Rs. 50.000
Millions |
||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest The Rate Of
Interest On Rs.50.000 millions, Cash Credit Limit Is @2.00% Above Sbar,
Current Effective Rate Being 14.25% P.A. With Monthly Rests. Terms of
Repayment The Entire Cash
Credit Limit Of Rs.50.000 millions, Is Repayable On Demand Margin Margin On Stock
In Process And Finished Goods : 25% Margin On
Receivables (Cover 60 Days) : 40% Margin For Letter
Of Credit Limit :54% Extent and
Operation of the charge The Entire Cash
Credit Limit Of Rs.50.000 millions Shall
Be Utilised For The Purpose For Which It Is Sanctioned. Hypothecation Of
Stocks, Receivables And Other Current Assets Of The Company Others Nil |
||||||
|
Short particulars
of the property charged |
Hypothecation Of
Stocks, Receivables And Other Current Assets Of The Company. Equitable
Mortgage Of Properties And 1st Charge On Fixed Assets Of The Company Acquired
With Bank Finance. Equitable
Mortgage On Open Plot Admeasuring 2541 Sq.Yds., In Sy.No.69 At Manikonda Jagir
Village, Rajendranagar Mandal, R.R. District, Standing In The Name Of The
Company |
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.45.58 |
|
|
1 |
Rs.72.79 |
|
Euro |
1 |
Rs.62.01 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.