MIRA
INFORM REPORT
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Report Date : |
18.03.2011 |
IDENTIFICATION DETAILS
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Name : |
THE BIBLE SOCIETY OF |
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Registered
Office : |
Logos, 206, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
1811 |
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Legal Form : |
Society |
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Line of Business
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Scripture items produced by the Bible Society of India are being
distributed through all Church Denominations and Church related bodies
country wide. Currently the Holy Bible and Portions of it are made available
by the society in more than 203 languages and currently engaged in the
translation of the holy bible in another 102 languages and dialects of the
country. The society acts as the Arm of the church. Subject is a Christian body that is authorized to translate, produce
and distribute and market the Holy Bible. Holy Bible is made available in the
forms of Print, Braille Audio and Video. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an old established society started in Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The society 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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. E Solomon |
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Designation : |
Senior Manager of Administrative |
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Contact No.: |
91-9448324498 |
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Date : |
17.03.2011 |
LOCATIONS
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Registered Office / Showroom : |
Logos, 206, |
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Tel. No.: |
91-80-41124714 / 15 |
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Mobile No.: |
91-9448324498 (Mr. E Solomon) |
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Fax No.: |
91-80-25584701 |
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E-Mail : |
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Website : |
www.bsind.org |
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Area : |
8000 sq.ft |
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Location : |
Office in 5th Floor and State of the Art Showroom in 1st
Floor |
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Branches : |
Located At: Auxiliary Centres in Aizwal, Allahabad, Secunderabad, Dimapur,
Ahmedabad, Jabalpur, Bangalore, Kottayam, Kolkata, Mumbai, New Delhi, Cuttack,
Ranchi, Shillong, Chennai, Andaman and Nicobar Island |
MANAGEMENT
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Name : |
Dr. M Jesudas |
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Designation : |
General Secretary in Charge (Assisted by a team of Auxilary
Secretaries located countrywide and staff of central office) |
KEY EXECUTIVES
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Name : |
Mr. E Solomon |
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Designation : |
Senior Manager of Administrative |
BUSINESS DETAILS
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Line of Business : |
Scripture items produced by the Bible Society of India are being distributed
through all Church Denominations and Church related bodies country wide.
Currently the Holy Bible and Portions of it are made available by the society
in more than 203 languages and currently engaged in the translation of the
holy bible in another 102 languages and dialects of the country. The society
acts as the Arm of the church. Subject is a Christian body that is authorized to translate, produce
and distribute and market the Holy Bible. Holy Bible is made available in the
forms of Print, Braille Audio and Video. |
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Imports : |
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Products : |
Periodic Imports |
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Countries : |
Overseas Markets when necessary |
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Terms : |
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Selling : |
Mostly Against Payment |
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Purchasing : |
As per Vendor |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Mainly Churches, Society as well as Affiliated Organisations
Countrywide, Customers |
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No. of Employees : |
100 Approximately |
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Bankers : |
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Facilities : |
Operating on Own Funds |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Not Available
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2010 |
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Sales Turnover (Approximately) |
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50.000 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The Bible Society movement started in
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.24 |
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1 |
Rs.72.57 |
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Euro |
1 |
Rs.63.00 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.