|
Report Date : |
08.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
UTV ENTERTAINMENT TELEVISION LIMITED (w.e.f. 05.11.2007) |
|
|
|
|
Formerly Known
As : |
V AND S BROADCASTI NG LIMITED (w.e.f. 04.06.2007) V AND S BROADCASTI NG PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, Building No.11, Solitaire Corporate Park, Guru
Hargovindji Marg, Chakala, Andheri (East), Mumbai – 400093, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
28.04.2007 |
|
|
|
|
Com. Reg. No.: |
11-170405 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.64.640 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U64200MH2007PLC170405 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV14871D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCV4782D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged into Broadcasting Business. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (37) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of UTV Global Broadcasting. It is an
established company moderate track record. The latest financial of the company are not made available, hence
payment terms are unknown. As per Previous year the company was found to have some accumulated
losses. However, trade relations are reported as decent. Business is active. In view of strong holding, the company can be considered for business
dealings with slight caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Rajesh |
|
Designation : |
Office Executive |
|
Contact No.: |
91-22-40981400 |
|
Date : |
08.11.2012 |
LOCATIONS
|
Registered Office : |
7th Floor, Building No.11, Solitaire Corporate Park, Guru
Hargovindji Marg, Chakala, Andheri (East), Mumbai-400 093, Maharashtra,
India |
|
Tel. No.: |
91-22-40981400 |
|
Fax No.: |
91-22-40981650/ 40981510 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
A-18 and A-19, Sector 16, Noida – 201301, Uttar Pradesh, India |
|
Tel No.: |
91-120-4695353 |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Nikhil Kanti Gandhi |
|
Designation : |
Director |
|
Address : |
Joseph Avenue, Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age : |
23.08.1977 |
|
Date of Appointment : |
27.07.2012 |
|
DIN No.: |
00744698 |
|
|
|
|
Name : |
Mr. Sameer Kalpathy Ganapathy |
|
Designation : |
Director |
|
Address : |
Pathare Marg, Off Sitadevi Temple Road, Mahim – 400016, Maharashtra, India |
|
Date of Birth/Age : |
21.02.1978 |
|
Date of Appointment : |
27.07.2012 |
|
DIN No.: |
05215983 |
|
|
|
|
Name : |
Mr. Nitin Dador |
|
Designation : |
Director |
|
Address : |
Yari Road, Varsova, Andheri (West), Mumbai – 400061, Maharashtra, India |
|
Date of Birth/Age : |
11.09.1975 |
|
Date of Appointment : |
27.07.2012 |
|
DIN No.: |
05222454 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh |
|
Designation : |
Office Executive |
|
|
|
|
Name : |
Mr.
Puneet Juneja |
|
Designation : |
Company
Secretary |
|
Address : |
303,
|
|
Date of Birth/Age : |
23.09.1979 |
|
Date of Appointment : |
28.04.2010 |
|
PAN No.: |
AFRPJ9169H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
UTV Global Broadcasting Limited, |
|
8652444 |
|
Nimish Shah |
|
1 |
|
Rajan Puri |
|
1 |
|
Nitin Chawla |
|
1 |
|
S. Venkta Subramanian |
|
1 |
|
Siddarth Tparia |
|
1 |
|
Roshini Bakshi |
|
1 |
|
|
|
|
|
Total |
|
8652450 |
(AS ON 31.03.2011)
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
|
|
|
|
UTV Global Broadcasting Limited, |
|
5573994 |
|
Rohinton Screwala |
|
1 |
|
Zarina Mehta |
|
1 |
|
Jignesh Kenia |
|
1 |
|
Mohd. Sajid Ali |
|
1 |
|
Jyotsna Tandel |
|
1 |
|
Amit Banka |
|
1 |
|
|
|
|
|
Total |
|
5574000 |
|
|
||
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
UTV Global Broadcasting Limited, |
|
890000 |
|
|
|
|
|
Total |
|
890000 |
(AS ON 30.09.2012)
Equity Share Breakup
|
Category |
|
Percentage |
|
|
|
|
|
Bodies
corporate (not mentioned above) |
|
100.00 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into Broadcasting Business. |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash |
|
|
|
|
Purchasing : |
L/C, Cash |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
200 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· Axis Bank Credit Management center, Unit No.6, Corporate Park, Chembur Branch,
Mumbai – 400071, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution: |
· SICOM Limited, Nirmal Building, 1st Floor, Nariman Point, Mumbai – 400021, Maharashtra, India · SBICP Trustee Company Limited 202, Maker Tower, ‘E’ Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028,
Maharashtra, India |
|
PAN No.: |
AAHFP0187A |
|
|
|
|
Ultimate Holding Company : |
UTV Software Communications Limited |
|
|
|
|
Holding Company : |
UTV Global Broadcasting Limited, CIN No.: U32300MH2007PLC171337 |
|
|
|
|
Fellow Subsidiaries : |
·
Genx Entertainment Limited ·
UTV New Media Limited ·
UTV Communications ( ·
IG Interactive Entertainment Limited ·
Indiagames Limited ·
Ignition Entertainment Limited, ·
Ignition London Limited (Formerly known as Digi
Guys Limited) ·
Ignition Entertainment Limited, ·
UTV Games Limited ·
True Games Interactive ·
UTV TV Content Limited ·
RB Entertainment Limited ·
First Future Agri. and Developers Limited ·
UTV Tele Talkies Limited ·
Screenshot Television Limited (Formerly known as
Smriti Irani Television Limited) |
|
|
|
|
Other related parties where common control exists : |
·
UTV News Limited ·
Unilazer Media Limited ·
Unilazer Holdings Limited ·
Television News and Entertainment ( ·
Vijay Broadcasting Private Limited ·
United Tele-Shopping and Marketing Company
Limited |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9550000 |
Equity Shares |
Rs.10/- each |
Rs.95.500 millions |
|
1500000 |
Preference Shares |
Rs.10/- each |
Rs.15.000 millions |
|
|
|
|
|
|
|
Total |
|
Rs.110.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8652450 |
Equity Shares |
Rs.10/- each |
Rs.86.525 Millions |
|
|
|
|
|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9550000 |
Equity Shares |
Rs.10/- each |
Rs.95.500 millions |
|
1500000 |
Preference Shares |
Rs.10/- each |
Rs.15.000 millions |
|
|
|
|
|
|
|
Total |
|
Rs.110.500
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5574000 |
Equity Shares |
Rs.10/- each |
Rs.55.740
millions |
|
890000 |
1% Non Cumulative, Convertible and/or Redeemable Preference Shares |
Rs.10/- each |
Rs.8.900
millions |
|
|
|
|
|
|
|
Total |
|
Rs.64.640 millions |
NOTES:
i. On December 30,
2009, The Company has increased its Authorised Equity Share Capital from
Rs.10.000 millions to Rs.11.050 millions and further reclassified 6,000,000 Preference
Shares into 6,000,000 Equity Shares of Rs.10 each.
ii. On December
30, 2009, 5,000,000 Equity Shares of Rs.10 each were issued to UTV Global
Broadcasting Limited on conversion of 5,000,000 Zero coupon Convertible
Preference Shares of Rs.10 each.
iii. On February
10, 2010, 1,500,000 Authorised Equity Shares of Rs. 10 each were reclassified
to 1,500,000 Authorised Preference Shares of Rs.10 each.
iv. On February
10, 2010, 524,000 equity shares of Rs 10 each at a premium of Rs.2290 per Equity
share and 8,90,000,1% Non Cumulative, Convertible and/or Redeemable Preference
Shares of Rs.10 each were issued to UTV Global Broadcasting Limited in lieu of
part of the Unsecured Loan.
v. The Preference
Shares were issued on 10th February 2010 to UTV Global Broadcasting
Limited and are convertible and/or redeemable at later date and such terms and
conditions as may be mutually agreed by the Board of Directors of the Company
and UTV Global Broadcasting Limited. The Term will exceed a period of 20 years
from the date of allotment of said preference shares.
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 |
64.640 |
64.640 |
50.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2288.060 |
2288.060 |
0.000 |
|
|
4] (Accumulated Losses) |
(1269.894) |
(1564.477) |
(1919.569) |
|
|
NETWORTH |
1082.806 |
788.223 |
(1869.069) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
499.305 |
|
|
2] Unsecured Loans |
8.200 |
218.800 |
1950.000 |
|
|
TOTAL BORROWING |
8.200 |
218.800 |
2449.305 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1091.006 |
1007.023 |
580.236 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
20.229 |
36.907 |
41.686 |
|
|
Capital work-in-progress |
5.924 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
379.445 |
380.000 |
380.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
375.645
|
178.593
|
164.828 |
|
|
Sundry Debtors |
229.139
|
552.661
|
276.407 |
|
|
Cash & Bank Balances |
1.495
|
15.909
|
10.418 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
411.891
|
208.309
|
144.430 |
|
Total
Current Assets |
1018.170
|
955.472
|
596.083 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
184.453 |
312.076 |
397.597 |
|
|
Other Current Liabilities |
147.375
|
50.656
|
37.412 |
|
|
Provisions |
0.934
|
2.624
|
2.524 |
|
Total
Current Liabilities |
332.762
|
365.356
|
437.533 |
|
|
Net Current Assets |
685.408
|
590.116
|
158.550 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1091.006 |
1007.023 |
580.236 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
1031.681 |
1164.105 |
718.290 |
|
|
|
Other Income |
34.361 |
16.368 |
0.216 |
|
|
|
TOTAL (A) |
1066.042 |
1180.473 |
718.506 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Service Cost |
562.018 |
688.116 |
1573.702 |
|
|
|
Employees Related Expenses |
67.613 |
48.838 |
88.450 |
|
|
|
Administrative, Selling and Other Expenses |
133.783 |
66.730 |
144.451 |
|
|
|
TOTAL (B) |
763.414 |
803.684 |
1806.603 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
302.628 |
376.789 |
(1088.097) |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
1.811 |
16.367 |
104.235 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
300.817 |
360.422 |
(1192.332) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.679 |
5.330 |
7.434 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
295.138 |
355.092 |
(1199.766) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.555 |
0.000 |
(379.092) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
294.583 |
355.092 |
(820.674) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1564.477) |
(1919.569) |
(1098.895) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1269.894) |
(1564.477) |
(1919.569) |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
Nil
|
Nil
|
1.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
IRD Boxes and Smart Card |
5.924 |
-- |
2.062 |
|
|
TOTAL IMPORTS |
5.924 |
-- |
2.062 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
|
|
|
|
|
- Basic |
53.00 |
257.00 |
(16413.00) |
|
|
|
- Diluted |
53.00 |
257.00 |
(16413.00) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
27.63
|
30.08
|
(114.22) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
28.61
|
30.05
|
(167.03) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.42
|
35.78
|
(188.12) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.45
|
0.64 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.31
|
0.74
|
1.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.06
|
2.62
|
1.36 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors for Capital Goods, Materials and Expenses |
|
|
|
|
- Micro and Small Enterprises |
-- |
-- |
-- |
|
- Others |
184.453 |
312.076 |
397.597 |
|
|
|
|
|
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE:
Registered office of the company has been shifted from Parijaat House, 1076,
Dr. E Moses Road, Worli Naka, Mumbai - 400 018, Maharashtra to the
present address w.e.f.15.05.2010
BACKGROUND OF THE
COMPANY
The Company was incorporated in India as a Public Limited Company under the Companies Act, 1956 on April 28, 2007. The Company is a subsidiary of UTV Global Broadcasting Limited (“UGBL”) which in turn is the subsidiary of UTV Software Communications Limited (“USCL”). The Company owns and operates two channels namely ‘UTV Movies’ and ‘UTV World Movies’.
BUSINESS OVERVIEW
The Company owns and operates two channels namely ‘UTV Movies’ and ‘World Movies’.
UTV Movies caters to one of the biggest entertainment genres on Indian Television - Hindi movies. While it has access to an enviable slate of movies from the UTV library which includes the biggest blockbusters, it has also acquired movies from multiple companies across India. Despite being the youngest in the genre, the channel continues to enjoy patronage both from audiences and advertisers. The GRPs have grown from 30 to 40 during the year. The GRPs reached a peak of 52 during the year. The channel intends to further strengthen its library during the coming financial year.
World Movies is the first channel of its kind which brings International cinema to Indian television for the first time. World Movies has acquired International blockbusters in varied languages like Italian, French, German, Spanish, Polish, Japanese, Korean, Chinese and many more. Today the channel is a brand that covers four major verticals – Television, Theatrical, DVD and Print with a magazine that goes out to audiences interested in World Cinema.
BACKGROUND OF THE COMPANY
The Company was
incorporated in India as a Public Limited Company under the Companies Act, 1956
on April 28, 2007. The Company is a subsidiary of UTV Global Broadcasting
Limited (“UGBL”) which in turn is the subsidiary of UTV Software Communications
Limited (“USCL”). The Company owns and operates two channels namely ‘UTV
Movies’ and ‘UTV World Movies’.
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In
Millions) |
|
|
|
|
|
|
Income tax appeal before Commissioner of Income Tax for Assessment
Years 2008-09/2009-10/2010-11/2011-12 |
45.815 |
-- |
|
|
|
|
FORM 8:
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U64200MH2007PLC170405 |
|
Name of the
company |
UTV ENTERTAINMENT
TELEVISION LIMITED |
|
Address of the
registered office or of the principal place of business in |
7th Floor, Building No.11, Solitaire Corporate Park, Guru
Hargovindji Marg, Chakala, Andheri (East), Mumbai-400 093, Maharashtra, India
|
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property
(Not being Pledge) Floating charge Others Current Assets
including Content Library |
|
Particular of
charge holder |
· Axis Bank, Credit Management center, Unit No.6, Corporate Park, Chembur Branch,
Mumbai – 400071, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Composite
Hypothecation Agreement dated 28th February 2011 executed in favour of Axis
Bank creating charge on movable properties, current assets including content
library of the Company. |
|
Date of
instrument Creating the charge |
28.02.2011 |
|
Amount secured by
the charge |
Rs.250.000
millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Cash Credit- at
3.75% above Axis Bank's Base Rate and Purchase
Bill Discounting-at 2% above Axis Bank's Base Rate Terms of
Repayment Cash Credit and
Purchase Bill Discounting- On Demand Margin On Purchase Bill
Discounting: 10% On Cash Credit
facility-25% on RM; 25% on SIP; 25% on FG; 25% on Stores and Spares and 25%
on Book Debts Extent and
Operation of the charge Towards repayment
of the principal amount of the Loan together with payment of all interest,
penal interest, liquidated damages, fees, premium on prepayment,
reimbursement of all costs, charges and expenses and all other monies due to
the lender. |
|
Short particulars
of the property charged |
First pari passu
charge on all movable properties, current assets including content library of
the Company. |
FIXED ASSETS:
Tangible Assets
·
Plant and Machinery
·
Furniture and Fixtures
·
Computers
·
Office Equipments
·
Leasehold Improvements
Intangible Assets
·
Computer Software
NEWS
THE WALT DISNEY – UTV ENTERTAINMENT
TELEVISION DEAL
December 11, 2011
Then Last fortnight, a regional subsidiary of
The Walt Disney Company upped its stake in Ronnie Screwvala's UTV from 13.7 per
cent to 32.1 per cent, shelling out Rs.8050.000 Millions in the bargain. The
Disney arm will also take 15 per cent for Rs.1190.000 Millions in UTV Global
Broadcasting (UGBL), the parent company of Genx Entertainment and UTV
Entertainment Television in which UTV has bought 75 per cent for Rs.2400.000
Millions. The remaining 10 per cent will be held by Screwvala's promoter group.
The total investment of Disney in the UTV Group stands at Rs.13140.000
Millions. "This investment in the UTV Group is The Walt Disney Company's
commitment to international growth. This investment complements our
fast-growing Disney-branded businesses and long-held joint venture in ESPN Star
Sports," says Andy Bird, Chairman, Walt Disney International, and a board
member of UTV.
Walt Disney Company, owner of 50.44 per cent of UTV Software Communications
Limited, offered to buy all outstanding shares for as much as Rs.20100.000
Millions in July 2011. As part of its expansion in Bollywood, the world's
biggest media company sought to buy out 19.82 per cent stake held by UTV
founders and the remainder from public shareholders.
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.54.25 |
|
|
1 |
Rs.87.00 |
|
Euro |
1 |
Rs.69.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
37 |
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.