|
Report Date : |
18.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE TELECOM LIMITED |
|
|
|
|
Registered
Office : |
H Block, 1st Floor, A Wing, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
01.03.1994 |
|
|
|
|
Com. Reg. No.: |
162841 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.800.00
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32100MH1994PLC162841 |
|
|
|
|
Legal Form : |
A closely held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
To Provide
Cellular Mobile Telephone Services. |
|
|
|
|
No. of Employees
: |
Not divulged by
the management. |
RATING & COMMENTS
|
MIRAs Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Reliance ADA Group Company. There appears some accumulated
losses recorded by the company. The company has incurred losses in the
current year i.e. 2010-11. However, trade relations are reported as fair.
Business is active. Payments are reported to be usually correct and as per
commitments. In view of strong holding, the company can be considered normal for
business dealings at usual trade terms and conditions. Reliance Communications Maharashtra Private Limited (RCMPL) was merged
into the company which was made effective from 25th May, 2011. |
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
Management Non Co Operative (Name Not Disclosed)
LOCATIONS
|
Registered Office : |
H Block, 1st Floor, A Wing, |
|
Tel. No.: |
91-22-30386286 |
|
Fax No.: |
91-22-30376622 |
|
E-mail : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
E Block, 1st Floor, Dhirubhai Ambani Knowledge City, Opp.
Koparkhairana Railway Station, Thane Belapur Road, Navi Mumbai |
|
Tel. No.: |
91-22-3037333/ 27624000 |
|
Fax No. : |
91-22-30376622 |
|
|
|
|
Administrative Office : |
172/2 Premchand House Annexe, Ground Floor, |
|
Tel. No.: |
91-79- 30331000, 30331011, 30331012 |
|
Fax No. : |
91-79-26586132, 30331623 |
|
E-Mail: |
|
|
Website: |
|
|
|
|
|
Branches : |
3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai 400 021, |
|
Tel. No.: |
91 22 284 2929 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Satish Parshuram Seth |
|
Designation : |
Director |
|
Address : |
4th Floor, Summer Villa, |
|
Date of Birth/Age : |
13.08.1955 |
|
Date of Appointment : |
11.04.1997 |
|
|
|
|
Name : |
Mr. Prakash
Shenoy |
|
Designation : |
Director |
|
Address : |
Flat No.104,
Fortuna B, Lodha Paradise, Near Majiwada Flyover, Eastern Express Highway,
Thane (West), Mumbai 400601, Maharashtra, India |
|
Date of Birth/Age : |
01.05.1973 |
|
Date of Appointment : |
28.05.2011 |
|
|
|
|
Name : |
Mr. Gautma Doshi |
|
Designation : |
Director |
|
Address : |
B -131, Grand Paradi, August Kranti Marg, Mumbai 400 036, |
|
Date of Birth/Age : |
23.12.1952 |
|
Date of Appointment : |
31.01.2007 |
KEY EXECUTIVES
|
Name : |
Mr. Abrahim Kutty |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. Viraj Karani |
|
Designation : |
Manager |
|
Address : |
E Room No.24, Kanjur Estate, Near Railway Station, Kanjurmarg West,
Behind Sainath Hotel, Mumbai 400078, Maharashtra, India |
|
Date of Birth/Age : |
18.06.1985 |
|
Date of Appointment : |
13.03.2011 |
|
|
|
|
Name : |
Mr. Gaurang G Shah |
|
Designation : |
Director |
|
Address : |
Flat No. 204, A Wing, Raj Vaibhav 1, Mahavir Nagar, Kandivali
(West), Mumbai 400 067, |
|
Date of Birth/Age : |
13.12.1962 |
|
Date of Appointment : |
01.09.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
EQUITY SHARES
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Reliance Infocomm
Infrastructure Private Limited, Mumbai |
7419900 |
|
Satish Seth Jointly with Reliance Communications Limited, Mumbai |
1 |
|
Amitabh Jhunjhuwala Jointly with Reliance Communications Limited,
Mumbai |
1 |
|
Gautam Doshi Jointly with Reliance Communications Limited, Mumbai |
1 |
|
Hasit Shukla Jointly with Reliance Communications Limited, Mumbai |
1 |
|
Surendra Pipara Jointly with Reliance Communications Limited, Mumbai |
1 |
|
Reliance Communications Limited, Mumbai |
27580095 |
|
Total |
35000000 |
PREFERENCE SHARES
AS ON 30.09.2011
|
Reliance Communications Limited, Mumbai |
45000000 |
|
Total |
45000000 |
AS ON 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To Provide
Cellular Mobile Telephone Services. |
GENERAL INFORMATION
|
No. of Employees : |
Not divulged by
the management. |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
Axis Trustee Services Limited, |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
Rs. In Millions
|
|||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name 1: |
Chaturvedi and Shah Chartered Accountant |
|
Address : |
714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai 400021, |
|
|
|
|
Name 2: |
Price Waterhouse Chartered Accountant |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai 400028,
Maharashtra, India |
|
|
|
|
Ultimate Holding Company: |
Reliance Innoventure Private Limited (RIPL) |
|
|
|
|
Holding Company: |
Reliance Communications Limited (RCOM) |
|
|
|
|
Fellow Subsidiary : |
·
Reliance Communications Infrastructure Limited
(RCIL) ·
Reliance Infratel Limited (RITL) ·
Reliance Tech Services Private Limited (RTSL) ·
Matrix Innovations Limited (Matrix) (Merged with
RCIL w.e.f. 01.04.2010) ·
Netizen Rajasthan Limited (NRL) ·
Reliance Communications Invesment and Leasing
Limited (RCIIL) ·
Reliance Webstore Limited (RWSL) ·
Reliance Global IDC Limited (RGIDC) |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
120000000 |
Equity Shares |
Rs.10/- each |
Rs.1200.000 Millions |
|
100000000 |
Preference Shares |
Rs.10/- each |
Rs.1000.000 Millions |
|
280000000 |
Unclassified Shares |
Rs.10/- each |
Rs.2800.000 Millions |
|
|
|
|
Rs.5000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs.350.000
Millions |
|
45000000 |
1% Non Convertible Non Cumulative Preference Shares |
Rs.10/- each |
Rs.450.000
Millions |
|
|
|
|
Rs.800.00 Millions |
Note:
a) Reliance Communications Limited (Holding Co) and its nominee holds 2 75 80 100 (78.80%) Equity Shares of Rs.10/- each.
Reliance Infocomm Infrastructure Private Limited, a subsidiary of Reliance Communications Limited,
holds 74 19 900 (21.20%) Equity Shares of Rs.10 each.
b) Preference Shares are redeemable
i) At any time after the expiry of 6 months from the date of allotment (i.e. 3rd March, 2003 )and before the expiry of 20 years from the date of allotment, at a face value of Rs.10/- each by one month notice from Preference shareholders; or
ii) On the expiry of 20 years from the date of allotment at a price of Rs.100/- per share (including Rs.90/- premium per share), in case above option is not exercised.
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 |
800.000 |
800.000 |
800.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2000.000 |
2000.000 |
2000.000 |
|
|
4] (Accumulated Losses) |
(3251.700) |
(1072.600) |
(611.300) |
|
|
NETWORTH |
(451.700) |
1727.400 |
2188.700 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4464.900 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
36390.600 |
61665.900 |
100509.000 |
|
|
TOTAL BORROWING |
40855.500 |
61665.900 |
100509.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
40403.800 |
63393.300 |
102697.700 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
20214.700 |
16809.700 |
17658.900 |
|
|
Capital work-in-progress |
27004.000 |
11710.900 |
12147.900 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
29524.100 |
78458.400 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
110.900
|
136.800
|
164.700 |
|
|
Sundry Debtors |
794.600
|
1045.000
|
737.900 |
|
|
Cash & Bank Balances |
162.900
|
1192.500
|
3141.700 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
20702.700 |
15076.700 |
3674.900 |
|
Total
Current Assets |
21771.100
|
17451.000
|
7719.200 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
26330.400
|
9793.900
|
10690.000
|
|
|
Other Current Liabilities |
2199.900
|
2230.000
|
2538.400 |
|
|
Provisions |
55.700
|
78.500
|
58.300 |
|
Total
Current Liabilities |
28586.000
|
12102.400
|
13286.700 |
|
|
Net Current Assets |
(6814.900)
|
5348.600
|
(5567.500) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
40403.800 |
63393.300 |
102697.700 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
23461.600 |
20739.400 |
17270.900 |
|
|
|
Other Income |
422.200 |
2055.300 |
3237.400 |
|
|
|
TOTAL (A) |
23883.800 |
22794.700 |
20508.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Access Charges and License Fees |
9838.000 |
7192.900 |
5526.300 |
|
|
|
Network Operation expenses |
11130.400 |
10289.700 |
7151.600 |
|
|
|
Sales and Marketing expenses |
1573.800 |
829.700 |
980.200 |
|
|
|
Employee Related Expenses |
397.800 |
506.000 |
825.100 |
|
|
|
General and Administrative expenses |
|
|
|
|
|
|
Administrative expenses |
213.700 |
317.400 |
595.700 |
|
|
|
Foreign Exchange (Gain)/ Loss on Debtors / Creditors (Net) |
(51.200) |
(506.900) |
(220.000) |
|
|
|
TOTAL
(B) |
23102.500 |
18628.800 |
15076.700 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
781.300 |
41.65.900 |
5431.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
492.200 |
1168.700 |
3238.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
289.100 |
2997.200 |
2192.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3178.600 |
1890.800 |
3874.300 |
|
|
|
|
|
|
|
|
|
Add |
Adjustments
Pursuant to Scheme of Arrangement |
0.000 |
0.000 |
0.000 |
|
|
Less |
Losses on account of change in exchange rate relating to loans/ Liabilities |
0.000 |
0.000 |
3201.800 |
|
|
|
Amount withdrawn
from General Reserve |
0.000 |
0.000 |
3201.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(2889.500) |
1106.400 |
(1681.500) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(710.500) |
773.600 |
61.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
(2179.000) |
332.800 |
(1742.900) |
|
|
|
|
|
|
|
|
|
Add |
ADJUSTMENT
RELATED MERGER ACQUISITIONS |
(0.100) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS BALANCE BROUGHT FORWARD |
(1072.600) |
(1405.400) |
337.500 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
(3251.700) |
(1072.600) |
(1405.400) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
241.800 |
132.000 |
42.500 |
|
|
TOTAL EARNINGS |
241.800 |
132.000 |
42.500 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
NA |
0.000 |
50.700 |
|
|
|
Capital Goods |
NA |
331.600 |
940.200 |
|
|
TOTAL IMPORTS |
NA |
331.600 |
990.900 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(62.26) |
9.51 |
(4.80) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(9.12)
|
1.46
|
(8.50) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(12.31)
|
5.33
|
(8.20) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.88)
|
3.23
|
(6.63) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
6.39
|
0.64
|
0.77 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(153.73)
|
42.70
|
51.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.76
|
1.44
|
0.58 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors - Micro and Small
Enterprises |
410.900 |
121.000 |
227.900 |
|
Sundry Creditors - Others |
25919.500 |
9672.900 |
10462.100 |
|
Total |
26330.400
|
9793.900
|
10690.000 |
NOTE:
The
registered office address of the company has been shifted from Main Admn
Building Block No. GF-1 Village Meghpar/Padana, Lalpur,
FINANCIAL CONDITION AND RESULTS OF OPERATIONS:
During the year
under review, net billing revenue of the Company increased to Rs. 23460
millions, signifying a growth of 13% over the corresponding amount of Rs. 20740
millions during the previous year.
Operating profit
for the year under review amounted to Rs. 780 millions, after charging off of
Rs. 8630 millions of Passive Infrastructure charges to Infrastructure Service
Providers as compared to Rs. 7610 milions during the corresponding previous
year.
Increase in
Operating Expenses are mainly on account of passive infrastructure charges,
Interconnect usage Charges, Content charges, Dealer Commission etc.
Financial charges
reduced, from Rs. 1170 millions in the corresponding previous year, to Rs. 490
millions during the year under review. The Companys borrowings amounted to Rs.
40860 millions (previous year Rs. 6167 millions). The Companys outstanding, on
account of buyers credit, term loan etc. from various institutions, decreased
from Rs. 7960 millions as at the end of the corresponding previous year to Rs.
7940 millions as at 31st March, 2011.
Depreciation/
amortisation charge for the year (other than passive assets) amounted to Rs.
3180 millions as compared to Rs. 1890 millions (net of adjustment of Rs. 790
millions against General Reserve) for the corresponding previous year.
The Company has,
during the year, entered into various contracts in the area of
telecommunication business. While benefits from such contracts will accrue in
the future years, the Board of Directors shall periodically review their
progress.
FIXED ASSETS:
·
Building
·
Plant and Machinery
·
Equipments
·
Furniture and Fixtures
·
Vehicles
FORM 8
|
Corporate
identity number of the company |
U32100MH1994PLC162841 |
|
Name of the
company |
RELIANCE TELECOM LIMITED |
|
Address of the
registered office or of the principal place of business in |
H Block, 1st Floor, A Wing, Dhurubhai Ambani Knowledge City,
Koparkhairane, Navi Mumbai 400710, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of
charge holder |
Axis Trustee Services Limited, |
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated 26th April, 2012 executed by Reliance Communications
Limited, Reliance Communications Infrastructure Limited, Reliance Infratel
Limited and Reliance Telecom Limited, the Chargors in favour of Axis Trustee
Services Limited acting as the Security Trustee for Term Loan Facility of Rs. 18000
millions sanctioned to RCOM by UCO Bank, Syndicate Bank and Punjab National
Bank. |
|
Date of
instrument Creating the charge |
26.04.2012 |
|
Amount secured by
the charge |
Rs. 18000.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest UCO Bank - 13.00% Syndicate Bank
-11.75% Punjab National
Bank -12.75% Terms of repayment UCO Bank - Bullet
repayment on 31st March, 2013 Syndicate Bank
-Bullet repayment on 24th February, 2013. Punjab National
Bank - 5 equal monthly installments staring from 30th April, 2012 Margin Not Applicable Extent and operation of the charge Second pari passu
charge in favour of Axis Trustee Services Limited as Security Trustee for UCO
Bank, Syndicate Bank and Punjab National Bank for facilities availed by RCOM inter
alia on Movable Plant and Machinery and Capital Work in Progress |
|
Short particulars
of the property charged (Including location of the property) |
All and singular
of the whole of the Chargers present and future moveable plant and machinery
including (without limitation) tower assets and optic fibre cables, if any,
(whether attached or otherwise), capital work in progress (pertaining to
moveable fixed assets), whether installed or not and whether lying loose or
in cases or which are lying or are stored in or to be stored in or to be
brought into or upon any site or any of the Chargers premises, warehouses,
stockyards and go-downs or those of the Chargers agents, affiliates,
associates or representatives or at various work sites or at any place or
places wherever else situated or wherever else the same may be and/or that
may at present or hereafter be held by any party anywhere to the order and
disposition of the Chargers or in the course of transit or delivery and all
replacements thereof and additions thereof whether by way of substitution,
replacement, conversion, realisation or otherwise howsoever, together with
all benefits, rights and incidentals attached thereto which are now or shall
at anytime hereafter be owned by the Charger and all right, title, interest,
property, claims and demands whatsoever of the Charger unto and upon the
same. |
|
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 |
Yes |
|
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 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 |
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 Intl
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 companys 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.54.38 |
|
|
1 |
Rs.86.56 |
|
Euro |
1 |
Rs.69.30 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
PRL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
This score serves as a reference to assess SCs 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.