|
Report Date : |
22.11.2012 |
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.: |
11-162841 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.800.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32100MH1994PLC162841 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR2658E |
|
|
|
|
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
|
MIRA’s 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. The latest financials
of the company are not made available. As per previous year’s record, there appears some accumulated losses recorded
by the company. It had incurred losses out of its operations. However, trade relations are reported as decent. Business is active.
Payments are reported to be usually correct and as per commitment. In view of strong holding, the company can be considered normal for
business dealings at usual trade terms and conditions. Note: Reliance Communications Maharashtra Private Limited (RCMPL) was
merged into the subject 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.
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 DECLINED BY
Management Non Co-Operative
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 29.09.2012
|
Name : |
Mr. Gautam Bhailal Doshi |
|
Designation : |
Director |
|
Address : |
B-131,Grand Paradi, August Kranti Marg, Mumbai – 400036,
Maharashtra, India |
|
Date of Birth/Age : |
23.12.1952 |
|
Date of Appointment : |
30.01.2007 |
|
DIN No.: |
00004612 |
|
|
|
|
Name : |
Mr. Sateesh Seth |
|
Designation : |
Director |
|
Address : |
4th Floor, Summer Villa,, 7th Road,
Santacruz (East), Mumbai – 400055, Maharashtra, India |
|
Date of Birth/Age : |
13.08.1955 |
|
Date of Appointment : |
11.04.1997 |
|
DIN No.: |
00004631 |
|
|
|
|
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,
In |
|
Date of Birth/Age : |
01.05.1973 |
|
Date of Appointment : |
28.05.2011 |
|
DIN No.: |
00005394 |
KEY EXECUTIVES
|
Name : |
Mr. Gaurang Chhotalal Shah |
|
Designation : |
Secretary |
|
Address : |
Flat No. 204, A Wing, Raj Vaibhav-1, Mahavir Nagar,
Kandivali (West), Mumbai – 400067, Maharashtra, India |
|
Date of Birth/Age : |
13.12.1961 |
|
Date of Appointment : |
01.09.2004 |
|
Pan No. |
AAIPS5292A |
|
|
|
|
Name : |
Mr. Viraj Hemchand 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 |
|
Pan No. |
BAYPK1278F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Reliance Infocomm Infrastructure Private Limited, India |
|
7419900 |
|
Prakash Shenoy Jointly with Reliance Communications Limited, India |
|
1 |
|
Anil C. Shah Jointly with Reliance Communications Limited, India |
|
1 |
|
Gaurang C. Shah Jointly with Reliance Communications Limited, India |
|
1 |
|
Hasit Shukla Jointly with Reliance Communications Limited, India |
|
1 |
|
Hitesh Chawda Jointly with Reliance Communications Limited, India |
|
1 |
|
Reliance Communications Limited, India |
|
27580095 |
|
Total |
|
35000000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Reliance Communications Limited, India |
|
45000000 |
|
Total |
|
45000000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
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, Axis House, 2nd Floor, Bombay
Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025,
Maharashtra, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors 1: |
|
|
Name : |
Chaturvedi and Shah Chartered Accountant |
|
Address : |
714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400021, |
|
PAN.: |
AAAFC0662N |
|
|
|
|
Auditors 2: |
|
|
Name : |
Price Waterhouse Chartered Accountant |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai 400028,
Maharashtra, India |
|
PAN.: |
AABCP9181H |
|
|
|
|
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 |
|
|
Total |
|
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 |
|
|
Total |
|
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:
(Rs. in millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
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 |
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last 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 |
|
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:
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,
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 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. The Company’s borrowings amounted to Rs. 40860
millions (previous year Rs. 6167 millions). The Company’s outstanding, on
account of buyer’s 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.
SCHEME OF
AMALGAMATION:
i. In terms of the Scheme of Amalgamation (“the Scheme”) filed under Sections 391 to 394 of the Companies Act, 1956, and duly sanctioned by Hon’ble High Court of Bombay with Appointed date of 1st April, 2010, Reliance Communications Maharashtra Private Limited (RCMPL) (“Transferor Company”), which became a subsidiary of the Company during the year, has been amalgamated into the Company as per the Scheme. High Court order has been filed with Registrar of Companies (ROC) on 25th May, 2011.
ii. Investment of the Company in Equity Share Capital of Rs/0.100 Million in RCMPL has been cancelled and all Assets and Liabilities as appearing in the books of RCMPL are recorded in the books of the Company at their respective book value as at 1st April, 2010 and the excess of the Net Assets of Rs.0.100 Million is charged to Profit and Loss Account of the Company.
CONTINGENT
LIABILITIES
Rs. In Millions
|
Particular |
31.03.2011 |
31.03.2010 |
|
Bonds executed in favour of Government authorities |
571.700 |
571.700 |
|
Claims against the Company not acknowledged as debts* |
865.300 |
289.100 |
|
Bank Guarantee |
-- |
5050.000 |
* This represents demand received from Sales Tax / Service Tax / Entry Tax authorities in various States, which are pending before the Appellate Authorities / Tribunal / High Court and the stay orders are granted against the demands. The Company is confident that the claims will be successfully contested.
The Company has deposited Rs.82.000 Millions (Previous year Rs.65.700 Millions) under protest with the Sales tax / Service Tax / Entry Tax authorities against the demand. Deposit amount is included in Loans and Advances.
The Company accounts for its liabilities in respect of Licence Fees payable by way of Revenue Share to be computed on the Gross Revenue of the Company after taking into account the decision of TDSAT dated 30th August, 2007 and 7th May, 2010 specifying that revenues not related to UAS and Other Licences under which the Company operates are not to be included in the computation of Revenue Share. The decision of the TDSAT is the subject matter of Appeal pending before the Supreme Court. No provision is considered necessary in this regard.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
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, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India |
|
Nature of
instrument creating charge |
Unattested
Memorandum of Hypothecation dated 16th October, 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
Rupees Loan Facility of Rs.3000.000 Millions sanctioned by State Bank of
India. |
|
Date of
instrument Creating the charge |
16.10.2012 |
|
Amount secured by
the charge |
Rs.3000.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 13.5% Terms of Repayment As per sanction
letter Extent and Operation of the charge Second pari-passu
charge on Chargers (Reliance Communications Limited; Reliance Telecom
limited; Reliance Communications Infrastructure Limited; Reliance Infratel
Limited) assets |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All and singular
of the whole of the Chargors present and future moveable plant and machinery
including tower assets and optic fibre cables and capital work in progress |
FIXED ASSETS:
·
Building
·
Plant and Machinery
·
Equipments
·
Furniture and Fixtures
·
Vehicles
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 exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record exists
to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.20 |
|
|
1 |
Rs.87.79 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
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 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.