MIRA
INFORM REPORT
|
Report Date : |
07.05.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered
Office : |
349, Business Point, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
08.10.2004 |
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Com. Reg. No.: |
11-149037 |
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Capital
Investment / Paid-up Capital : |
Rs.4.000 Millions |
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CIN No.: [Company Identification
No.] |
u74300mh2004ptc149037 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in
providing an entire range of Entertainment Services, which include In-film
Advertising, Film Promotions, Music Albums, Film Marketing and Celebrity
Management. |
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No. of Employees
: |
Information Declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 39000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The company
has incurred losses in the current year. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
|
Name : |
Mr. Sadanand |
|
Designation : |
Finance Manager |
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Tel. No.: |
91-22-66401500 |
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Date : |
03.05.2012 |
LOCATIONS
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Registered Office : |
349, Business Point, |
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Tel. No.: |
91-22-66401500 |
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Fax No.: |
91-22-66750414 |
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E-Mail : |
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Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Sam Baman Balsara |
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Designation : |
Director |
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Address : |
47, Malcolm Baug, Jogeshwari, Mumbai – 400 102, |
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Date of Birth/Age : |
12.01.1951 |
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Date of Appointment : |
08.10.2004 |
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DIN No.: |
00076942 |
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Name : |
Ms. Lara Sam Balsara |
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Designation : |
Director |
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Address : |
47, Malcolm Baug, Jogeshwari, Mumbai – 400 102, |
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Date of Birth/Age : |
11.02.1981 |
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Date of Appointment : |
08.10.2004 |
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DIN No.: |
00089327 |
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Name : |
Mr. Soli Bomanji Bulsara |
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Designation : |
Director |
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Address : |
47, Malcolm Baug, Jogeshwari, Mumbai – 400 102, |
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Date of Birth/Age : |
02.05.1940 |
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Date of Appointment : |
08.10.2004 |
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DIN No.: |
00606586 |
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Name : |
Mr. Sooraj Bhalla |
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Designation : |
Director |
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Address : |
C-15, Chand Society, |
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Date of Birth/Age : |
13.09.1974 |
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Date of Appointment : |
08.10.2004 |
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DIN No.: |
02432840 |
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Name : |
Ms. Darshana Bhalla |
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Designation : |
Director |
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Address : |
C-15, Chand Society, |
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Date of Birth/Age : |
22.12.1974 |
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Date of Appointment : |
08.10.2004 |
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DIN No.: |
02432882 |
KEY EXECUTIVES
|
Name : |
Mr. Sadanand |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sam Baman Balsara |
|
290000 |
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Soli Bomanji Bulsara |
|
5000 |
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Lara Sam Balsara |
|
5000 |
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Sooraj Bhalla |
|
50000 |
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Darshana Bhalla |
|
50000 |
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TOTAL |
|
400000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in
providing an entire range of Entertainment Services, which include In-film
Advertising, Film Promotions, Music Albums, Film Marketing and Celebrity
Management. |
GENERAL INFORMATION
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No. of Employees : |
Information Declined by the management |
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S R Rege and Company Chartered Accountants |
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Address : |
125, Hiramani Super Market, Mumbai - 400 012, |
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Tel. No.: |
91-22-24713450 |
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PAN.: |
AAAPD5280C |
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Related Parties : |
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CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
400000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.000 millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.000 |
4.000 |
4.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.813 |
8.261 |
3.428 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9.813 |
12.261 |
7.428 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
1.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
1.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
9.813 |
13.261 |
7.428 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.597 |
0.472 |
0.628 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.185 |
0.145 |
0.061 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
10.250
|
47.292 |
13.728 |
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Cash & Bank Balances |
4.567
|
4.353 |
2.254 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
24.491
|
24.018 |
15.115 |
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Total
Current Assets |
39.308
|
75.663 |
31.097 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
21.784 |
48.759 |
17.846 |
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Other Current Liabilities |
4.464
|
10.097 |
4.014 |
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Provisions |
4.072
|
4.220 |
2.569 |
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Total
Current Liabilities |
30.320
|
63.076 |
24.429 |
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Net Current Assets |
8.988
|
12.587 |
6.668 |
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MISCELLANEOUS EXPENSES |
0.043 |
0.057 |
0.071 |
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TOTAL |
9.813 |
13.261 |
7.428 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
127.903 |
161.978 |
122.951 |
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Other Income |
|
1.509 |
0.638 |
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TOTAL |
127.903 |
163.487 |
123.589 |
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Less |
EXPENSES |
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Office Expenses |
130.397 |
157.088 |
124.737 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
130.397 |
157.088 |
124.737 |
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PROFIT/(LOSS)
BEFORE TAX |
(2.494) |
6.399 |
(1.149) |
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Less |
TAX |
0.046 |
1.566 |
0.026 |
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PROFIT/(LOSS)
AFTER TAX |
(2.448) |
4.833 |
(1.175)
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8.261 |
3.428 |
1.694 |
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BALANCE CARRIED
TO THE B/S |
5.813
|
8.261 |
3.428 |
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Earnings/(loss)
Per Share (Rs.) |
(6.12) |
12.08 |
(2.94) |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(1.95)
|
2.96 |
(0.95) |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
|
3.95 |
(0.93) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(6.25)
|
8.40 |
(3.62) |
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Return on Investment (ROI) (PBT/Networth) |
|
(0.25)
|
0.52 |
(0.15) |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.08
|
5.23 |
3.29 |
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Current Ratio (Current Asset/Current Liability) |
|
1.30
|
1.20 |
1.27 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
No |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business• |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
No |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
Yes |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
No |
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20) Export / Import details (if applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
No |
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24) Banking facility details |
No |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
sundry creditors details:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
Rs. in Millions |
||
|
|
|
|
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Sundry Creditors |
21.784 |
48.759 |
17.846 |
BACKGROUND
The Company was
incorporated on 08lh October, 2004 in the name and style of "Madison
Teamworks Film Promotion and Entertainment Private Limited". The Company
is principally engaged in providing an entire range of Entertainment Services,
which include In-film Advertising, Film Promotions, Music Albums, Film
Marketing and Celebrity Management.
REVIEW OF OPERATIONS
During the year the total income of the
company has been Rs.127.903 Millions as compared to Rs.163.487 Millions in the previous year. Corresponding,
the expenses have decreased from Rs.157.088 Millions in the previous year to
Rs.130.397 Millions in the current year. The company has earned a loss of
Rs.2.448 Millions as against the profit of Rs.4.833 Millions in the previous
year.
FIXED ASSETS
· Furniture
· Office Equipments
· Computer
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 records 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.53.72 |
|
|
1 |
Rs.86.98 |
|
Euro |
1 |
Rs.70.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
MYI |
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 |
2 |
|
--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 |
|
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.