|
Report Date : |
31.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
AXN NETWORKS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Interface Building 7, 4th floor, Malad Link Road, Malad (West), Mumbai - 400064, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
13.12.2010 |
|
|
|
|
Com. Reg. No.: |
11-210915 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.25.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92419MH2010FTC210915 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA38893B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCA0935A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company engaged in marketing and distribution of
audiovisual programming in any media, sale of advertising time, production,
acquisition, and supply of television programming, and other activities. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
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 |
|
Maximum Credit Limit : |
USD 100000 |
|
|
|
|
Status : |
Yet to commence |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new and reputed company. It is yet to commence
its business activity. Management of the company is non cooperative in
disclosing the details. Payments terms are unknown. The company can be considered for business dealings with some caution. Profit and Loss Account of the company is not available. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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
Management Non Co-Operative
(91-22-67081259)
LOCATIONS
|
Registered Office : |
Interface Building 7, 4th floor, Malad Link Road, Malad
(West), Mumbai - 400064, Maharashtra,
India |
|
Tel. No.: |
91-22-67081259 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 16.12.2011
|
Name : |
Mr. Hui Keng Ang |
|
Designation : |
Director |
|
Address : |
73 Jalan Tua Kong #07-04, Singapore - 457266 |
|
Date of Birth/Age : |
12.01.1967 |
|
Date of Appointment : |
13.12.2010 |
|
DIN No.: |
03075663 |
|
|
|
|
Name : |
Mr. Ricky Yoke Hong Ow |
|
Designation : |
Director |
|
Address : |
409 Upper East Coast Road, Singapore - 466485 |
|
Date of Birth/Age : |
09.06.1965 |
|
Date of Appointment : |
13.12.2010 |
|
DIN No.: |
03075662 |
|
|
|
|
Name : |
Mr. George Chung-Chi Chien |
|
Designation : |
Additional director |
|
Address : |
6440 West 82ND Street, Los Angeles, California, 90045, USA |
|
Date of Birth/Age : |
09.07.1972 |
|
Date of Appointment : |
11.01.2011 |
|
DIN No.: |
03101431 |
|
|
|
|
Name : |
Mr. Andrew Jay Kaplan |
|
Designation : |
Additional director |
|
Address : |
13225 Old Oak Lane, Los Angeles, California, 90045, USA |
|
Date of Birth/Age : |
02.11.1960 |
|
Date of Appointment : |
11.01.2011 |
|
DIN No.: |
01532580 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 16.12.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
South Asian Regional Investments Singapore, Pte. Limited, Singapore |
|
6975000 |
|
South Asian Regional Investments Singapore II, Pte. Limited, Singapore |
|
2325000 |
|
Total
|
|
9300000 |
As on 16.12.2011
Equity Share Break up (Percentage of Total Equity)
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company engaged in marketing and distribution of audiovisual
programming in any media, sale of advertising time, production, acquisition,
and supply of television programming, and other activities. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252 Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028,
Maharashtra, India |
|
PAN No.: |
AAEFP3641G |
CAPITAL STRUCTURE
As on 16.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9300000 |
Equity Shares |
Rs.10/- |
Rs.93.000
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- |
Rs.25.000
Millions |
|
|
|
|
|
Notes:
1. 1875000 Equity Shares of Rs.10/- each are held by South Asian
Regional Investments Singapore, Pte. Limited
2. 625000
Equity Shares of Rs.10/- each are held by South Asian Regional Investments
Singapore II, Pte. Limited
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
25.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(0.625) |
|
|
NETWORTH |
|
|
24.375 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
24.375 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
25.000 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
25.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.585 |
|
|
Other Current Liabilities |
|
|
0.040 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.625 |
|
|
Net Current Assets |
|
|
24.375 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
24.375 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
40.00 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
(Rs.
In Millions)
|
Particulars
|
|
|
31.03.2011 |
|
Sundry Creditors |
|
|
|
|
-
Micro Small and Medium Enterprises |
|
|
0.000 |
|
-
Others |
|
|
0.585 |
|
Total
|
|
|
0.585 |
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
one years |
No |
|
12] |
Profitability for last
one 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 |
No |
|
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 |
No |
|
24] |
Banking facility details |
No |
|
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] |
PAN of Director, if
available |
No |
|
32] |
Passport No of Director,
if available |
No |
|
33] |
Voter ID No of Director,
if available |
No |
NOTE:
The registered office address of the company has been shifted from “601,
Piri Majestic, Plot No.149, Sidhi Society, Chembur, Mumbai – 400071,
Maharashtra, India” to the present address w.e.f. 01.09.2011.
INCORPORATION:
The Company was incorporated in Maharashtra, India, on December 13, 2010, under registration number U92419MH2010FTC210915, with the main object of marketing and distribution of audiovisual programming in any media, sale of advertising time, production, acquisition, and supply of television programming, and other activities.
OPERATION:
By March 31, 2011, the Company received share subscription money of Rs.25.000 Millions as per the subscription clause of its Memorandum of Association. Share allotments against this amount were also made. The Company is currently operating from office premises in Malad in Mumbai.
FINANCIAL RESULTS:
The audited accounts of the Company are presented from the date of incorporation till March 31, 2011, and comprise the Balance Sheet as on March 31, 2011, the Profit and Loss Account for the period ended on that date, along with Schedules thereto, including Notes to Accounts.
The financial results for this period show a Loss of Rs.0.625 Million
No dividend is declared since this is the first year of working and the Company has recorded a net loss.
PRESS RELEASE:
Pentagon Events manages AXN India’s Minute To Win It
11 August 2011
Pentagon Activations managed the auditions for
AXN India's reality game show, ‘Minute To Win It'. This is the second edition
of the show which will give the participants an opportunity to win one crore
rupees. This event took place in Bangalore at Sheraton Hotel on July 28, in
Delhi at Taj Hotel on July 30, and in Mumbai at JW Marriot on Aug. 1.
The brief given to Pentagon Activations was to
plan and execute the auditions for AXN Networks India Private Limited across
these three cities wherein contestants would be shortlisted for the game. This
activity engaged around 300 contestants through an online screening process in
which they were supposed to attend a boot camp wherein a set of 15 tasks had to
be performed within a time period of one minute. After the briefing at the boot
camp, the contestants were given a time period of 45 minutes to practise each
of the 15 tasks, followed by their performance. These tasks were judged by
Rohit Bhandari, VP, AXN Networks India and Derek Wong, Director-Production, SPE
Networks, Asia.
Speaking about the initiative, Bhandari said:
"The response from the activity was phenomenal. Individual contestants
were mighty pleased with the arrangements made by the channel and the agency,
and all briefs given were efficiently and effectively implemented. This is the
first time we have associated with Pentagon. They are new born in the industry
but both Khushbu and Riyaz have been excellent account managers earlier. Their
eye for detail and experience ensured that they executed the boot camps for
India's Minute To Win It very well and completely met AXN's expectations. We
are planning an extensive on-ground activation for the show closer to the date
of the premiere of the show, which will help the audience to experience game
play in malls, schools, streets, etc."
Commenting on the execution, Riyaz Sayed,
Director, Pentagon Activations said: "The entire process for an audition
of such a length and diversity to be a success needs planning and precision
down to the minute details. I think Pentagon Activations delivered what was
expected and ensured that the show which was delivered was the best experience
for the contestants."
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.55.44 |
|
|
1 |
Rs.87.12 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
BSN |
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 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.