|
Report Date : |
12.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
INFOTEL BROADBAND SERVICES LIMITED (w.e.f.19.07.2010) |
|
|
|
|
Formerly Known
As : |
INFOTEL BROADBAND SERVICES PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
C-135, Industrial Area, Phase 8, Mohali-160062, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
15.02.2007 |
|
|
|
|
Com. Reg. No.: |
16-030897 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 45335.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900PB2007PLC030897 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PTLI10699D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI6363G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of providing Broadband Services,
Telecom and Information Technology enabled and related services. |
|
|
|
|
No. of Employees
: |
Not Available |
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 180000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Reliance Industries Limited. It is an established company having moderate track. There appears some
accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
C-135, Industrial Area, Phase 8, Mohali-160062, |
|
Tel. No.: |
91-172-5098370 |
|
Fax No.: |
91-172-5098370 |
|
E-Mail : |
|
|
|
|
|
Corporate Office 1 : |
77B, 3rd Floor, |
|
Tel. No.: |
91-124-4310000 |
|
|
|
|
Corporate Office 2 : |
Makers Chambers-IV, Nariman Point, Mumbai-400 021, |
DIRECTORS
AS ON 07.09.2011
|
Name : |
Mr. Mukesh Dhirubhai Ambani |
|
Designation : |
Chairman |
|
Address : |
Sea Wind, 39, Cuffe Parade, Colaba, Mumbai-400005, |
|
Date of Birth/Age : |
19.04.1957 |
|
Date of Appointment : |
22.06.2010 |
|
DIN No.: |
00001695 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
L17110MH1973PLC019786 |
RELIANCE
INDUSTRIES LIMITED |
Managing
director |
19-04-09 |
01-04-77 |
Active |
NO |
|
2 |
L23200GJ1969PLC001569 |
INDIAN
PETROCHEMICALS CORPORATION LIMITED |
Director |
04-06-02 |
04-06-02 |
Amalgamated |
NO |
|
3 |
U80101MH2002NPL136300 |
PRATHAM
EDUCATION FOUNDATION |
Director |
24-06-02 |
24-06-02 |
Active |
NO |
|
4 |
L11100GJ2005PLC048030 |
RELIANCE
PETROLEUM LIMITED |
Director |
24-10-05 |
24-10-05 |
Amalgamated |
NO |
|
5 |
U67120MH2005PTC157980 |
KDA
ENTERPRISES PRIVATE LIMITED |
Director |
22-09-07 |
12-12-05 |
Active |
NO |
|
6 |
U17120MH1998PLC114010 |
RELIANCE
RETAIL LIMITED |
Director |
04-03-06 |
04-03-06 |
Active |
NO |
|
7 |
U72900PB2007PLC030897 |
INFOTEL
BROADBAND SERVICES LIMITED |
Director |
07-09-11 |
22-06-10 |
Active |
NO |
|
8 |
U85110MH2010NPL207270 |
RELIANCE
FOUNDATION |
Director |
30-08-10 |
30-08-10 |
Active |
NO |
|
9 |
U52100MH2008PTC178019 |
IMG
RELIANCE PRIVATE LIMITED |
Director |
29-09-11 |
10-03-11 |
Active |
NO |
|
Name : |
Mr. Manoj Harjivandas Modi |
|
Designation : |
Director |
|
Address : |
10A/B, Building No.26, Sudhakar Co-operative Housing Society, |
|
Date of Birth/Age : |
03.07.1957 |
|
Date of Appointment : |
22.06.2010 |
|
DIN No.: |
00056207 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U72200KA1991PTC012483 |
TALLY
SOLUTIONS PRIVATE LIMITED |
Director |
09-12-99 |
09-12-99 |
19-05-09 |
Active |
NO |
|
2 |
L11100GJ2005PLC048030 |
RELIANCE
PETROLEUM LIMITED |
Director |
24-10-05 |
24-10-05 |
27-03-07 |
Amalgamated |
NO |
|
3 |
U17120MH1998PLC114010 |
RELIANCE
RETAIL LIMITED |
Director |
04-03-06 |
04-03-06 |
- |
Active |
NO |
|
4 |
U72900PB2007PLC030897 |
INFOTEL
BROADBAND SERVICES LIMITED |
Director |
07-09-11 |
22-06-10 |
- |
Active |
NO |
|
5 |
L55101WB1949PLC017981 |
EIH
LIMITED |
Additional
director |
31-10-11 |
31-10-11 |
- |
Active |
NO |
|
Name : |
Mr. Mahendra Nahata |
|
Designation : |
Director |
|
Address : |
House No.W-48, Greater Kailash, New Delhi-110048, |
|
Date of Birth/Age : |
19.05.1959 |
|
Date of Appointment : |
22.06.2010 |
|
DIN No.: |
00052898 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
L64200HP1987PLC007466 |
HIMACHAL
FUTURISTIC COMMUNICATIONS LIMITED |
Managing
director |
11-05-87 |
11-05-87 |
- |
Active |
NO |
|
2 |
U64203HP1994PLC014541 |
EXICOM
TELE-SYSTEMS LIMITED |
Director |
10-05-94 |
10-05-94 |
01-12-08 |
Active |
NO |
|
3 |
U93090TN1960PLC004355 |
HTL
LIMITED |
Director |
31-12-02 |
31-12-02 |
- |
Active |
NO |
|
4 |
L00000MH1946PLC197474 |
QUADRANT
TELEVENTURES LIMITED |
Director |
29-04-03 |
29-04-03 |
09-04-10 |
Active |
NO |
|
5 |
U64202DL2004PTC126863 |
INDIA
CARD TECHNOLOGY PRIVATE LIMITED |
Nominee
director |
24-05-05 |
24-05-05 |
- |
Active |
NO |
|
6 |
U74140HP2007PTC031452 |
SUNVISION
ENGINEERING COMPANY PRIVATE LIMITED |
Director |
22-08-07 |
22-08-07 |
14-09-07 |
Amalgamated |
NO |
|
7 |
U72300DL2007PTC167902 |
SMART
DIGIVISION PRIVATE LIMITED |
Director |
26-12-08 |
19-02-08 |
11-04-11 |
Active |
NO |
|
8 |
U72900MH2007PLC204763 |
VIDEOCON
TELECOMMUNICATIONS LIMITED |
Additional
director |
10-06-08 |
10-06-08 |
15-12-08 |
Active |
NO |
|
9 |
U72900PB2007PLC030897 |
INFOTEL
BROADBAND SERVICES LIMITED |
Director |
07-09-11 |
26-02-10 |
- |
Active |
NO |
|
10 |
U51909PB2010PTC033763 |
INFOTEL
ACCESS ENTERPRISES PRIVATE LIMITED |
Director |
01-04-10 |
01-04-10 |
- |
Active |
NO |
|
11 |
U51909PB2010PTC033760 |
INFOTEL
GIGAHERZ ENTERPRISES PRIVATE LIMITED |
Director |
01-04-10 |
01-04-10 |
- |
Active |
NO |
|
12 |
U93000DL2010PTC200097 |
DIGIVIVE
SERVICES PRIVATE LIMITED |
Director |
12-09-11 |
07-02-11 |
- |
Active |
NO |
|
13 |
U64200DL2010PTC211117 |
DRAGONWAVE
HFCL INDIA PRIVATE LIMITED |
Director |
07-12-11 |
10-03-11 |
- |
Active |
NO |
|
14 |
U67190DL2011PTC213857 |
DIGIVISION
HOLDINGS PRIVATE LIMITED |
Additional
director |
30-07-11 |
30-07-11 |
- |
Active |
NO |
|
15 |
U51909PB2010PTC033762 |
MN
VENTURES PRIVATE LIMITED |
Director |
29-09-11 |
27-08-11 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Puneet Anurag |
|
Designation : |
Secretary |
|
Address : |
House No.1434, Pushpa C Complex, Sector – 49-B, |
|
Date of Birth/Age : |
25.04.1972 |
|
Date of Appointment : |
26.02.2010 |
|
PAN No.: |
AEMPC7864E |
|
|
|
|
Name : |
Mr. Raja Kolumum Ramchandran |
|
Designation : |
Manager |
|
Address : |
F No.1703-1704, Building No.1, Raheja Classique, New |
|
Date of Birth/Age : |
19.12.1956 |
|
Date of Appointment : |
22.06.2010 |
|
PAN No.: |
ADLPR6435Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 07.09.2011
|
Names of Shareholders (Equity Shares) |
No. of Shares |
|
Reliance Industries Limited, |
519690000 |
|
Reliance Industries Limited, |
4278000000 |
|
K Sethuraman
jointly with Reliance Industries Limited, |
1 |
|
K. R.Raja
jointly with Reliance Industries Limited, |
1 |
|
Pankaj Mohan Pawar
jointly with Reliance Industries Limited, |
1 |
|
Ramesh Kumar
Damani jointly with Reliance Industries Limited, |
1 |
|
Kiran Mathew
Thomas jointly with Reliance Industries Limited, |
1 |
|
Anant Nahata |
75753000 |
|
Nextwave Communications
Private Limited, |
37876500 |
|
Infotel Telecom
Holdings Private Limited, |
6312750 |
|
Digivision
Content Solutions Private Limited, |
4292670 |
|
Vikash Agarwal |
2020080 |
|
Infotel Infocomm
Enterprises Private Limited, |
126255000 |
|
Total |
5050200005 |
|
Names of Shareholders (Preference
Shares) |
No. of Shares |
|
Reliance Industries Investments and Holdings Limited, |
125000000 |
|
Total |
125000000 |
AS ON 07.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
98.24 |
|
Directors or relatives of Directors |
1.72 |
|
Other top fifty shareholders |
0.04 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of providing Broadband Services,
Telecom and Information Technology enabled and related services. |
|
|
|
|
Services : |
Broadband Services |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
Axis Bank Limited, |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Atul Kulshrestha and Company Chartered Accountants |
|
Address : |
506, |
|
Tel. No.: |
91-11-41531330/ 41531331/ 41531332 |
|
E-Mail : |
|
|
|
|
|
Holding Company : |
·
Reliance Industries Limited CIN No.:-
L17110MH1973PLC019786 |
|
|
|
|
Fellow Subsidiary : |
Reliance
Industrial Investments and Holdings Limited (w.e.f.17th June, 2010) CIN No.:- U65910MH1986PLC041081 |
|
|
|
|
Subsidiary : |
·
Infotel Telecom Limited (w.e.f. 10th February,
2011) CIN No.:- U64204MH2011PLC213276 ·
Rancore Technologies Private Limited (w.e.f. 31st
March, 2011) CIN No.:- U74999MH2007PTC168562 |
|
|
|
|
Related Party : |
·
Infotel Digicomm Private Limited CIN No.:-
U64202PB2007PTC030983 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1726900000 |
Equity Shares (Fully Paid Up) |
Rs.10/- each |
Rs. 17269.000 Millions |
|
4278000000 |
Equity Shares (Partly Paid Up) |
Rs.10/- each |
Rs. 42780.000 Millions |
|
150050000 |
0.1% Non Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs. 1500.500 Millions |
|
|
Total |
|
Rs. 61549.500
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5050200005 |
Equity Shares |
Rs.10/- each |
Rs.
50502.000 Millions |
|
125000000 |
0.1% Non Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs. 1250.000
Millions |
|
|
Total |
|
Rs. 51752.000 Millions |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
772200000 |
Equity Shares |
Rs.10/- each |
Rs. 7722.000
Millions |
|
4278000000 |
Equity Shares |
Rs.8.50/-
each |
Rs.
36363.000 Millions |
|
125000000 |
0.1% Non Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs. 1250.000
Millions |
|
|
Total |
|
Rs. 45335.000 Millions |
Notes:
(a)
600,49,00,000 Equity Shares of Rs 10/- each
(b)
15,00,50,000 Preference Shares of Rs 10/-each
(c)
505,05,00,000 Equity shares of Rs 10/- each
(d)
12,50,00,000 0.1% Non Cumulative Redeemable Preference
Shares of Rs 10/-each
(e)
505,02,,00,000 Equity shares of Rs 10/- each.
(f)
12,50,00,000 0.1% Non Cumulative Redeemable
Preference Shares of Rs 10/-each
(g)
77,22,00,000 Equity shares of Rs 10/- each fully
paid up and 427,80,00,000 Equity shares of Rs 10/- each, called and Paid up to
the extent of Rs 8.50/-.
(h)
12,50,00,000 0.1% Non Cumulative Redeemable
Preference Shares of Rs 10/-each fully paid.
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 |
45335.000 |
25.100 |
25.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(58.106) |
(9.908) |
0.000 |
|
|
NETWORTH |
45276.894 |
15.192 |
25.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
86892.540 |
74.729 |
5.700 |
|
|
TOTAL BORROWING |
86892.540 |
74.729 |
5.700 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
132169.434 |
89.921 |
30.800 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
12.274 |
16.463 |
0.000 |
|
|
Capital work-in-progress |
133809.207 |
64.534 |
71.083 |
|
|
|
|
|
|
|
|
INVESTMENT |
16.241 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
0.536
|
0.065
|
0.000 |
|
|
Cash & Bank Balances |
9.281
|
1.607
|
1.798 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
183.479
|
10.743
|
25.892 |
|
Total
Current Assets |
193.296
|
12.415 |
27.690 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
18.954
|
1.746 |
67.404 |
|
|
Other Current Liabilities |
1839.499
|
0.616
|
0.513 |
|
|
Provisions |
3.131
|
1.129
|
0.234 |
|
Total
Current Liabilities |
1861.584
|
3.491 |
68.151 |
|
|
Net Current Assets |
(1668.288)
|
8.924
|
(40.461) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.178 |
|
|
|
|
|
|
|
|
TOTAL |
132169.434 |
89.921 |
30.800 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating Revenue |
|
1.980 |
1.478 |
|
|
|
Other Income |
|
4.585 |
0.087 |
|
|
|
TOTAL (A) |
|
6.565 |
1.565 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Related Costs |
|
4.257 |
0.000 |
|
|
|
Administrative Expenses |
|
45.426 |
6.461 |
|
|
|
TOTAL (B) |
|
49.683 |
6.461 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(43.118) |
(4.896) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(43.118) |
(4.896) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
5.081 |
5.012 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
(48.199) |
(9.908) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
(48.199) |
(9.908) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(48.199) |
(9.908) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
(0.05) |
(3.95) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(734.18)
|
(633.10)
|
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2434.29)
|
(670.37)
|
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(23.45)
|
(34.31)
|
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.00)
|
(0.65)
|
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.96
|
5.15
|
2.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.10
|
3.56
|
0.41 |
LOCAL AGENCY FURTHER INFORMATION
|
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 two 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 |
-- |
|
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 |
NOTE
Registered office has been shifted from C – 157, Phase – VII, Industrial
Area, Mohali – 160 055,
OPERATIONAL
REVIEW:
The Company holds an
All India Internet Service Provider (ISP) Category 'A' License which entitles
it to provide countrywide ISP services in
In the auction for
Broadband Wireless Access (BWA) spectrum (2 blocks of 20 MHz each), conducted
in year 2010 by Department of Telecommunications, Government of India, the
Company was a successful bidder in all 22 telecom service areas (“telecom
circles”) in India and has been awarded spectrum (1 block of 20 MHz each) in
all 22 telecom circles. The Company is the sole winner of the pan-India BWA
spectrum, and is well positioned to provide Internet related services across
In August 2010,
the Company has received the Letter of Allotment of Broadband Wireless Access
Spectrum from Department of Telecommunications, Government of India.
The Company
perceives the broadband opportunity as a new frontier of knowledge economy in
which it can take a leadership position and provide
The Company is in
the process of finalizing arrangements with leading global technology players,
service providers, infrastructure providers, application developers, device
manufacturers and others to leapfrog
CHANGE OF STATUS
OF THE COMPANY
During the year,
the Company became a Subsidiary of Reliance Industries Limited. Thereafter, the
Company ceased to be a private company consequent to alteration of its Articles
of Association pursuant to Section 44 of the Companies Act, 1956, and receipt
of fresh certificate of incorporation from the Registrar of Companies on 19th
July, 2010.
AMALGAMATION
During the year
the Hon'ble High Court of Punjab and Haryana and Hon'ble High Court of Delhi
sanctioned the Scheme of Amalgamation ("Scheme") pursuant to which Infotel
Digicomm Private Limited (IDPL) and Infotel Holdings Private Limited (IHPL)
were amalgamated with the Company. The Scheme became effective on 16th February
2011 with the appointed date of the Scheme being 1st April 2010. In terms of
the Scheme, the Company issued and allotted 25,25,10,000 Equity Shares of
Rs.10/- each to the existing Equity Share holders of IHPL and 12,50,00,000
Preference Shares of Rs.10/- each to the Preference Shareholders of IDPL.
Further in terms
of the said Scheme, the Authorized Share Capital of the Company increased to
Rs. 61549.500 Millions.
SUBSIDIARIES
With the objective
to carry out the business of providing National and International Long distance
voice, data, video and other value added services, the Company, during the
year, promoted Infotel Telecom Limited which was incorporated as its wholly
owned subsidiary. During the year, the Company acquired Rancore Technologies
Private Limited, a company engaged in Research and Development activities in
the area of Telecommunication Technologies which has synergy with the proposed
operations of the Company.
In accordance with
the general circular issued by the Ministry of Corporate Affairs, Government of
India, the Balance Sheet, Profit and Loss Account and other documents of
subsidiary companies are not being attached with the Balance Sheet of the
Company. The Company will make available the Annual Accounts of the subsidiary
companies and the related detailed information to any member of the Company who
may be interested in obtaining the same. The annual accounts of the subsidiary
companies will also be kept open for inspection at the Registered Office of the
Company and that of the respective subsidiary companies. The Consolidated
Financial Statements presented by the Company include financial results of its
subsidiary companies.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U72900PB2007PLC030897 |
|
Name of the
company |
INFOTEL BROADBAND SERVICES LIMITED |
|
Address of the registered
office or of the principal place of
business in |
C – 157, Phase – VII, Industrial Area, Mohali – 160 055, |
|
This form is for |
Creation of charge
|
|
Type of charge |
|
|
Particular of
charge holder |
Axis Bank
Limited, |
|
Nature of
description of the instrument creating or modifying the charge |
Unattested Deed of Hypothecation and charge dated June
16, 2010 |
|
Date of
instrument Creating the charge |
16/06/2010 |
|
Amount secured by
the charge |
Rs.23175.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: LIBOR 6 months Terms of Repayment: Final
Repayment schedule (1) 31.12.2014 - USD 75 Million (2) 30.06.2015 - USD 75 Million (3) 31.12.2015 - USD 175 Million (4) 30.05.2016 - USD 175 Million Margin: 200 BPPA Extent and Operation of the charge: First ranking
charge on whole of the Borrower's movable assets, both present and future,
including book debts, receivables, outstanding Moneys, claims, bills,
contracts and securities (other than shares in any subsidiary not being
telecom Subsidiary), Stock of raw materials, moveable plant and machinery,
equipment, furniture, vehicles and receivables from all the bank accounts
etc. |
|
Short particulars
of the property charged |
Whole of the
borrowers movable assets, both present and future as more particularly
described in Unattested Deed of Hypothecation and Charge dated 16.06.2010. |
FIXED ASSETS:
·
Leasehold Improvement
·
Plant and Machinery
·
Office Equipment
·
Furniture and Fixture
·
ISP License Fee
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. 53.64 |
|
|
1 |
Rs. 86.42 |
|
Euro |
1 |
Rs.69.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
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.