|
Report Date : |
29.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
9X MEDIA PRIVATE LIMITED (w.e.f.30.07.2010) |
|
|
|
|
Formerly Known
As : |
INX MEDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Urmi Corporate Park, 1st Floor, Solaris D, Opposite L and T
Gate No.6, Powai-400072, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
08.08.2006 |
|
|
|
|
Com. Reg. No.: |
11-163657 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 240.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74300MH2006PTC163657 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI07321G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI5594D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of telecasting television channels
and providing broadcasting services. |
|
|
|
|
No. of Employees
: |
Information not given by the management |
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 : |
USD 1000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is 9X Media Groups a super hit Punjabi music channel and it
has largest music television network. It is having moderate track record. The reserves of the company seem
to be insufficient. However, trade relations are reported to be fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with slight
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Manoj Raghani |
|
Designation : |
Senior Manager |
|
Contact No.: |
91-22-66019999 |
|
Date : |
28.08.2012 |
LOCATIONS
|
Registered Office : |
Urmi Corporate Park, 1st Floor, Solaris D, Opposite L and T
Gate No.6, Powai-400072, Maharashtra, India
|
|
Tel. No.: |
91-22-66019999 |
|
Fax No.: |
91-22-66019898 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Darius Dinshaw Pandole |
|
Designation : |
Director |
|
Address : |
5B, Sunhine Apartment, 15B, Maharishi Karve Road, Opposite Oval
Maidan, Mumbai-400020, Maharashtra, India |
|
Date of Birth/Age : |
27.04.1966 |
|
Date of Appointment : |
05.04.2011 |
|
DIN No.: |
00727320 |
|
|
|
|
Name : |
Mr. Shantanu Yeshwant Nalavadi |
|
Designation : |
Director |
|
Address : |
RM2903/4/5/6, FL-29, C107, Ashok Towers 63/74, DR-SS RAo Road, Parel,
Mumbai-400012, Maharashtra, India |
|
Date of Birth/Age : |
07.08.1970 |
|
Date of Appointment : |
07.09.2011 |
|
DIN No.: |
02104220 |
|
|
|
|
Name : |
Mr. Pradeep Guha |
|
Designation : |
Director |
|
Address : |
701, Krishna Heights, 12th Road, Khar (West),
Mumbai-400052, Maharashtra, India |
|
Date of Birth/Age : |
06.06.1952 |
|
Date of Appointment : |
07.09.2011 |
|
DIN No.: |
00180427 |
|
|
|
|
Name : |
Mr. Sandeep Bansal |
|
Designation : |
Director |
|
Address : |
House No.749, Sector-8, Chandigarh-160018, India |
|
Date of Birth/Age : |
25.12.1970 |
|
Date of Appointment : |
07.05.2011 |
|
DIN No.: |
00094391 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Kumar |
|
Designation : |
Secretary |
|
Address : |
451, Street No.10, Sewanagar, Ghaziabad-201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
10.08.1983 |
|
Date of Appointment : |
09.03.2009 |
|
PAN No.: |
APKPK2832D |
|
|
|
|
Name : |
Mr. Manoj Raghani |
|
Designation : |
Senior Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
9X Media Employee Trust, India |
5000000 |
|
Kotak Mahindra Capital Company Limited, India |
128400 |
|
Kotak Mahindra Trusteeship Services Limited A/c India Growth Fund, a
unit scheme of Kotak SEAF India Fund |
250001 |
|
NSR-PE Mauritius LLC, Mauritius |
30800000 |
|
Pradeep Guha |
2621599 |
|
TOTAL
|
38800000 |
AS ON 26.03.2012
|
Names of 0.001% Compulsory Convertible Preference Shareholders
(Allottees) |
No. of Shares |
|
NSR-PE Mauritius LLC, Mauritius and 9X Media Employee Trust |
32653000 |
|
TOTAL
|
32653000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
79.38 |
|
Bodies corporate |
0.33 |
|
Directors or relatives of Directors |
6.75 |
|
Other top fifty shareholders |
12.90 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of telecasting television channels
and providing broadcasting services. |
GENERAL INFORMATION
|
No. of Employees : |
Information not given by the management |
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Bankers : |
Not Available |
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|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Zee Entertainment Enterprises Limited, 135, Dr. Annie Besant Road,
Worli, Continental Building, Mumbai-400018, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountant |
|
Address : |
19th Floor, Express Towers, Nariman Point, Mumbai-400021,
Maharashtra, India |
|
PAN No.: |
AABFS3421N |
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|
|
|
Subsidiaries : |
·
INX Music Private Limited CIN No.:- U74999MH2007PTC168801 |
CAPITAL STRUCTURE
AFTER ON
30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38825000 |
Equity Shares |
Rs.10/- each |
Rs. 388.250 Millions |
|
41175000 |
Compulsorily Convertible Preference Shares |
Rs.10/- each |
Rs. 411.750 Millions |
|
|
TOTAL |
|
Rs. 800.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38800000 |
Equity Shares |
Rs.10/- each |
Rs. 388.000
Millions |
|
|
|
|
|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10025000 |
Equity Shares |
Rs.10/- each |
Rs. 100.250 Millions |
|
69975000 |
Compulsorily Convertible Preference Shares |
Rs.10/- each |
Rs. 699.750 Millions |
|
|
TOTAL |
|
Rs. 800.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000
Millions |
|
14000000 |
Compulsorily Convertible Preference Shares |
Rs.10/- each |
Rs. 140.000
Millions |
|
|
TOTAL |
|
Rs. 240.000 Millions |
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38825000 |
Equity Shares |
Rs.10/- each |
Rs. 388.250 Millions |
|
41175000 |
Compulsorily Convertible Preference Shares |
Rs.10/- each |
Rs. 411.750 Millions |
|
|
TOTAL |
|
Rs. 800.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38800000 |
Equity Shares |
Rs.10/- each |
Rs. 388.000
Millions |
|
32653000 |
Compulsorily Convertible Preference Shares |
Rs.10/- each |
Rs. 326.530
Millions |
|
|
TOTAL |
|
Rs. 714.530 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
240.000 |
100.000 |
100.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
11.047 |
7217.574 |
7217.574 |
|
|
4] (Accumulated Losses) |
0.000 |
(7403.613) |
(7287.780) |
|
|
NETWORTH |
251.047 |
(86.039) |
29.794 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
600.476 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
600.476 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
251.047 |
514.437 |
29.794 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
61.101 |
172.947 |
275.433 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
25.368 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
196.771 |
|
|
Sundry Debtors |
205.309
|
133.965 |
287.035 |
|
|
Cash & Bank Balances |
15.947
|
2.572 |
43.148 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
136.486
|
490.499 |
766.995 |
|
Total
Current Assets |
357.742
|
627.036 |
1293.949 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
140.309 |
225.384 |
1172.284 |
|
|
Other Current Liabilities |
48.994
|
54.575 |
357.817 |
|
|
Provisions |
3.861
|
5.587 |
9.487 |
|
Total
Current Liabilities |
193.164
|
285.546 |
1539.588 |
|
|
Net Current Assets |
164.578
|
341.490 |
(245.639) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
251.047 |
514.437 |
29.794 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Advertising |
751.421 |
688.711 |
1027.576 |
|
|
|
Subscription |
0.497 |
1.905 |
112.942 |
|
|
|
Syndication |
0.832 |
0.000 |
116.051 |
|
|
|
Other Income |
29.531 |
4.822 |
61.124 |
|
|
|
TOTAL (A) |
782.281 |
695.438 |
1317.693 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Content and Production cost |
163.501 |
491.234 |
2352.287 |
|
|
|
Personnel Expenses |
191.071 |
239.304 |
534.260 |
|
|
|
Administrative Expenses |
338.180 |
297.850 |
2716.130 |
|
|
|
Prior Period Expenses |
0.000 |
44.840 |
55.386 |
|
|
|
Exceptional Items |
0.000 |
(379.125) |
0.000 |
|
|
|
TOTAL (B) |
692.752 |
694.102 |
5658.063 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
89.529 |
1.336 |
(4340.370) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
10.568 |
2.927 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
89.529 |
(9.232) |
(4343.297) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
41.847 |
106.600 |
178.632 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
47.682 |
(115.832) |
(4521.929) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
6.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
47.682 |
(115.832) |
(4527.929) |
|
|
|
|
|
|
|
|
|
Add |
Exceptional Items
– Discount on settlement of creditors |
16.324 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
-- |
(7287.781) |
(2759.852) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
64.006 |
(7403.613) |
(7287.781) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Plant and Machinery |
NA |
0.000 |
50.517 |
|
|
TOTAL IMPORTS |
NA |
0.000 |
50.517 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.40 |
(11.58) |
(772.22) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.10
|
(16.66) |
(343.63) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.33
|
(16.77) |
(359.86) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.38
|
(14.48) |
(288.13) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
1.35 |
(151.77) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.77
|
(10.30) |
51.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.85
|
2.20 |
0.84 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors due
small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due
others |
140.309 |
225.384 |
1172.284 |
|
TOTAL |
140.309 |
225.384 |
1172.284 |
NOTE
Registered office has been shifted from INX House, Dr. Dadasaheb
Bhadkamkar Marg, Grant Road (East), Mumbai, Maharashtra, India to the present
address w.e.f. 01.07.2009
NATURE OF OPERATIONS
Subject is engaged
in the business of telecasting television channels and providing broadcasting
services. The Company operates and manages television channel 9XM' - a Hindi
music channel.
OPERATIONAL OUTLOOK
During the year ended
March 31, 2011, the Company has completed the transaction relating to demerger
of the general entertainment channel and restructured the capital as per the
Scheme of Arrangement approved by High Court, Bombay on September 9, 2010.
Further, the Company has recorded profits in the year ended March 31, 2011
including cash generated from operations, which has resulted in the net worth
being positive as at March 31, 2011. The Company has plans to launch regional
music channels for which it is in the process of seeking the requisite
regulatory approvals. As per the plans, the Company expects to grow its
revenues and improve profitability. Accordingly, the Company will continue its
operations for the foreseeable future and meet all its liabilities as and when
they fall due and the accompanying financial statements have been prepared
assuming that the Company will continue as a going concern.
COMPANY PERFORMANCE AND BUSINESS OVERVIEW
During the period,
the Company has gone through many changes which not only revamped/restructured
the company's image in the media industry but also helped in coming out of the
financial distress. The Company has for the first time earned profit of Rs.
64.006 Millions during this year under consideration.
During the period,
competitors launched Mastii channel and Sony Mix channel. Despite fierce
competition and fragmentation, 9XM channel continued to register strong growth
in viewership in relevant target groups.
CHANGE IN THE NAME OF THE COMPANY
During the period,
the company's name is changed from INX Media Private Limited' to 9X Media
Private Limited' vide fresh certificate of incorporation consequent upon change
in name dated 30 July 2010 issued by Registrar of Companies, Maharashtra,
Mumbai.
JOINT VENTURE WITH MR. SANDEEP BANSAL
Company has joined
hands with Mr. Sandeep Bansal (a major distributor of television channels in
Punjab market) for expansion of its presence in media and other related
activities by distribution of channels, content aggregation etc. Company's
subsidiary INX Music Private Limited is used as a JV Company for this, wherein
9X Media Private Limited currently holds 76% of the equity stake.
The said JV
started providing content of a Punjabi music channel 9X Tashan' that is majorly
distributed in Punjab, Himachal Pradesh, Haryana and Chandigarh.
FIXED ASSETS
·
Computer Hardware
·
Office Equipments
·
Plant and Machinery
·
Lease Hold Premises
·
Satellite Receiver
·
Furniture and Fixtures
NEWS
PRESS RELEASE
INDIA’S NO. 1 PUNJABI MUSIC CHANNEL 9X TASHAN NOW
ALSO AVAILABLE ON TATA SKY
MEDIA RELEASE MUMBAI JULY 2, 2012
9X Media Group’s
Super Hit Punjabi Music Channel – 9X Tashan, is now also available on the
premier DTH platform Tata Sky on EPG #884.
Commenting on the
initiative, Mr. Sandip Bansal, Managing Director 9X Tashan, said, “We are
delighted to announce that Tata Sky subscribers can now enjoy the best Punjabi
Music and humorous short format shows aired on 9X Tashan. The Channel has an
uptempo, vibrant, happy and humorous personality which has made 9X Tashan the
most preferred Punjabi Music destination for viewers across all age groups.”
Ms. Nicola
Bamford, Chief Content and Business Development Officer, Tata Sky Limited said,
“Our endeavor has always been to provide the most relevant content to our
growing subscriber base. Today, Tata Sky engages every member of the family
with the most comprehensive range of entertainment and music content in the
comfort of their homes. The launch of India’s leading Punjabi Music Channel 9X
Tashan on our platform underscores our continued commitment to add the very
best to Tata Sky’s growing portfolio of channels and further increase the
entertainment value of Tata Sky to a higher level.”
Launched on 31st
August 2011, 9X Tashan is widely available across cable and satellite homes.
The Channel is streamed LIVE on the internet on the channel’s website –
www.9xtashan.in and on various Mobile platforms. 9X Tashan has created
television history in India by registering an unprecedented growth of over 100
GRPs in the opening week of its launch across the Punjab, Haryana, Chandigarh
and Himachal Pradesh (PHCHP) Markets.
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. 55.77 |
|
|
1 |
Rs. 88.04 |
|
Euro |
1 |
Rs. 69.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.