MIRA INFORM REPORT

 

 

Report Date :

25.05.2011

 

 

Note: Correct name of the subject is “SADHU SINGH HAMDERD TRUST”. 

 

IDENTIFICATION DETAILS

 

Name :

SADHU SINGH HAMDERD TRUST

 

 

Registered Office :

Nehru Garden Road, Jalandhar – 144 001, Punjab

 

 

Country :

India

 

 

Year of Establishment :

1944

 

 

Capital Investment / Paid-up Capital :

Not Available

 

 

Legal Form :

Public Trust

 

 

Line of Business :

Publisher of News Papers.

 

 

No. of Employees :

500 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (36)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

--

 

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established trust publishing daily newspaper in Punjab, India. Mr. Ajay from Accounts Department provided to us the general information and denied to disclose financial details. However, trade relations are reported as fair. Business is active. Payment terms are unknown.

 

Subject 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)

India

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 (Partial Details)

 

Name :

Mr. Ajay

Designation :

Accounts Department

Contact No.:

91-181-2455961

Date :

24.05.2011

 

 

LOCATIONS

 

Registered Office/ Printing Press :

Nehru Garden Road, Jalandhar – 144 001, Punjab, India

Tel. No.:

91-181-2455961/ 62/ 63/ 5032400

Fax No.:

91-181-2455060

E-Mail :

ajit@jla.vsnl.net.in

Website :

www.ajitjalandhar.com

Location :

Owned

 

 

MANAGEMENT

 

Name :

Mrs. Prakash Kaur

Designation :

Chairperson

Address :

Jalandhar – 144 001, Punjab, India

 

 

Name :

Mr. Barjinder Singh Hamdard

Designation :

Managing Editor

Address :

Jalandhar – 144 001, Punjab, India

 

Note:

6 more trustees are there but name not divulged. 

 

BUSINESS DETAILS

 

Line of Business :

Publisher of News Papers.

 

 

Name of the News Paper and Circulation :

Daily Ajit News Paper in Punjabi

Circulation is about: 350000

 

Ajit Samachar New Paper in Hindi

Circulation is about: 100000

 

 

Exports :

 

Products :

New Paper

 

 

Imports :

 

Products :

News Print

Countries :

Korea

 

 

Terms :

 

Selling :

L/C, Cash and Credit (30 days)

 

 

Purchasing :

L/C, Cash and Credit (30 days) 

 

 

GENERAL INFORMATION

 

Customers :

End Users and Others

 

 

No. of Employees :

500 (Approximately)

 

 

Bankers :

Punjab National Bank, Jalandhar – 144 001, Punjab, India

 

 

 

Banking Relations :

--

 

 

Auditors :

Not Available

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Not Available

Borrowed :

Not Available

Total :

Not Available

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

NOT AVAILABLE

 

LOCAL AGENCY FURTHER INFORMATION

 

WEBSITE DETAILS:

 

PROFILE:

 

Sadhu Singh Hamdard was double-barrelled journalist, excelling in both Urdu and Punjabi and an innovative poet, who carried in his name the psudonym 'Hamdard', "sharing with all the pangs of their hearts," "friendly towards all." He was born in 1918 in a peasant family of moderate means living at the village of Paddi Matvali, near Banga, in Jalandhar district of the Punjab. He was attracted by the revolutionary activity which was the stirring the hearts of the youth in his neighbourhood.

 

As a high school student, he was active in Chaudhri Sher Jang's group of the radicals in the Yug Paltai Dal, party to impart a radical turn to the age. The Dal was formed in 1939-40 by Giani Harbans Singh of Sarhala Khurd in Hoshiarpur district. The Dal ceased to exist after the arrest and execution of its founder Harbans Singh, Sadhu Singh then joined the Shiromani Gurdwara Parbandhak Committee taking over its publicity wing.

 

In 1944, Sadhu Singh entered the field of journalism. He took up editorship of the upto Daily Ajit (Urdu) and retained this position 1957. In 1955, he also became chief editor of the Punjabi Ajit. The birth of the Ajit was an entirely new phenomenon in Punjabi journalism. It marked a new era of change and experimentation. In Sadhu Singh's hands, Punjabi journalism matured and reached new heights. The Ajit and Sadhu Singh Hamdard became synonymous names, he had so lovingly nursed the paper. Sadhu Singh set its permanent seal on Punjabi journalism. He created a new taste in Punjabi writing and introduced several new techniques. His services to Punjabi journalism, to what he did to give it a new face and format, were widely acknowledged.

 

In 1963, the Punjab Government honoured him with the title of Shiromani Pattarkar (the journalist of the year). He was chairman of the reception committee of All India Newspapers Editors Conference held at Jalandhar in 1973. He also edited two monthly magazines Tasvir and Drishtl.

 

Within his lifetime, Sadhu Singh converted all his property and assets into a public trust for the advancement of Punjabi culture and letters.

 

As a poet, Sadhu Hamdard is especially remembered for popularising the Ghazal form in Punjabi. His collection of Punjabi poems in the genre, entitled Ghazal won him a first prize from the Punjab Government in 1963. An anthology of his prose writings assembled under the title Akkhin Ditha Rus, a travelogue on his visits to Soviet Russia in 1967, also won the Punjab Government's award in 1972-73. He also wrote some novels built around heroic episodes from Sikh history as well as some short stories.

 

Guru Nanak Dev University, Amritsar, awarded him the Ph.D. degree for his thesis on "Origin and Development of the Punjabi Ghazal." He was a fellow of that University and member of its Syndicate. He was also a member of the Advisory Committee of the Languages Department and Press Advisory Committee of the Punjab Government, and of the Indian Academy of Letters (1973-1978). He was also president of the Kendri Punjabi Lekhak Sabha during 1972-79 and founder-president of Bazm-I-Adab (Urdu).

 

Dr Sadhu Singh Hamdard was also awarded the title of Padma Shri by the Central Government in January 1984, but he surrendered the honour in protest against the army action in the precincts of Golden Temple, Amritsar, in June 1984. Sadhu Singh Hamdard died a month later at Jalandhar on 29 July 1984.

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.45.25

UK Pound

1

Rs.72.83

Euro

1

Rs.63.58

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

3

--RESERVES

1~10

4

--CREDIT LINES

1~10

3

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

36 

 

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

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.