MIRA INFORM REPORT
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Report Date : |
01.09.2012 |
IDENTIFICATION DETAILS
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Name : |
THE WALT DISNEY COMPANY ( |
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Registered Office : |
4th Floor, Peninsula Towers - 1, Ganpatrao Kadam Marg, Lower Parel,
Mumbai -400011, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
01.08.2003 |
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Com. Reg. No.: |
11-149854 |
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Capital Investment / Paid-up Capital : |
Rs.1495.138 Millions |
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CIN No.: [Company
Identification No.] |
U74999MH2003PTC149854 |
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PAN No.: [Permanent
Account No.] |
AABCT9014D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Engaged in the Business of Board Casting. |
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No. of Employees
: |
155 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (41) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2400000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Walt
Disney U. S. A. There appears some accumulated losses recorded by the
company. 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 company, the subject can be considered
normal for business dealings at usual trade terms and conditions. However the losses being incurred by the Indian operations should be
come in mind. |
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. Jino |
|
Designation : |
Accounts Executive |
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Contact No.: |
91-9819334431 |
|
Date : |
31.08.2012 |
LOCATIONS
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Registered Office : |
4th Floor, Peninsula Towers -1, Ganpatrao Kadam Marg, Lower
Parel, Mumbai -400011, Maharashtra, India
|
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Tel. No.: |
91-22-66516600 / 66 / 67 / 56516615 |
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Mobile No : |
91-9819334431 (Mr. Jino Jayaraj) |
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Fax No.: |
91-22-56516744 / 66516667 |
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E-Mail : |
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Website : |
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Area : |
20000 sq. ft. |
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Location : |
Rented |
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Branch Office : |
Located at: ·
· Kolkata · Chennai |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Nitin Chawla |
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Designation : |
Whole-time Director |
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Address : |
Savijay, Flat NO. 202, |
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Date of Birth/Age : |
11.07.1972 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
03.02.2009 |
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DIN No.: |
02534582 |
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Name : |
Mr. Marsha Reed |
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Designation : |
Director |
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Address : |
4301, E1, |
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Date of Birth/Age : |
01.10.1957 |
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Qualification : |
Graduate |
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Date of Appointment : |
19.08.2004 |
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DIN No. |
00031423 |
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Name : |
Mr. Mahesh Ramchand Samat |
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Designation : |
Managing Director |
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Address : |
73 D, |
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Date of Birth/Age : |
12.07.1964 |
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Qualification : |
M. B. A. |
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Date of Appointment : |
07.02.2011 |
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DIN No.: |
02321902 |
KEY EXECUTIVES
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Name : |
Mr. Jino Jayaraj |
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Designation : |
Accounts Executive |
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Name : |
Mr. S Venkata Subramanian |
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Designation : |
Secretary |
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Address : |
Flat No.404, 4th Floor, Building No.1, A Wing, Plot C2, NG
Royal Park, Kanjur Marg, East, Mumbai – 400042, Maharashtra, India |
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Date of Birth/Age : |
10.10.1972 |
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Date of Appointment : |
01.07.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
No. of Equity
Shares |
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TWDC Holdings India Limited, California |
1 |
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Disney Enterprises Inc, California |
76215632 |
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Names of Shareholders |
No. of
preference Shares |
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Disney Enterprises Inc, California |
55454192 |
As on 30.09.2011
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Engaged in the Business of Board Casting. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
155 (Approximately) |
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Bankers : |
Bank of |
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Facilities : |
Note:
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Banking
Relations : |
---- |
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Financial Institute: |
Disney
Enterprises Inc, |
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Auditors : |
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Name : |
Price Waterhouse and Company Chartered Accountants |
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Address : |
252, Veer Savarkar Marg, |
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PAN No.: |
AADFP9359C |
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Ultimate Holding
Company: |
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Subsidiaries/Associates : |
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CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital : Rs.2600.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.2183.658 Millions
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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193000000 |
Equity Shares |
Rs.10/- each |
Rs.1930.000 Millions |
|
67000000 |
Preference Shares |
Rs.10/- each |
Rs.670.000 Millions |
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Total |
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Rs.2600.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
94059633 |
Equity Shares |
Rs.10/- each |
Rs.940.596 Millions |
|
55454192 |
Non-Cumunon-Cumulative Preference Shares |
Rs.10/- each |
Rs.554.542 Millions |
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Total |
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Rs.1495.138
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1495.138 |
1042.342 |
954.887 |
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2] Share Application Money |
0.000 |
81.648 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
7.564 |
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4] (Accumulated Losses) |
(1172.894) |
(514.047) |
(489.069) |
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NETWORTH |
322.244 |
609.943 |
473.382 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
237.346 |
232.950 |
256.644 |
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TOTAL BORROWING |
237.346 |
232.950 |
256.644 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
559.590 |
842.893 |
730.026 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
33.640 |
24.571 |
23.481 |
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Capital work-in-progress |
0.000 |
0.000 |
6.802 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
169.783 |
332.368 |
95.338 |
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Sundry Debtors |
735.675 |
775.284 |
463.009 |
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Cash & Bank Balances |
243.402 |
193.877 |
270.048 |
|
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Other Current Assets |
1.162 |
0.000 |
0.000 |
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Loans & Advances |
451.613 |
324.412 |
255.493 |
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Total
Current Assets |
1601.635 |
1625.941 |
1083.888 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
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Sundry Creditors |
811.250 |
504.200 |
228.817 |
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Other Current Liabilities |
181.056 |
246.579 |
122.501 |
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Provisions |
83.379 |
56.840 |
32.827 |
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Total
Current Liabilities |
1075.685 |
807.619 |
384.145 |
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Net Current Assets |
525.950 |
818.322 |
699.743 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
559.590 |
842.893 |
730.026 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
2109.238 |
1511.139 |
1124.716 |
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Other Income |
258.888 |
273.660 |
207.030 |
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TOTAL (A) |
2368.126 |
1784.799 |
1331.746 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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Other Expenditures |
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TOTAL (B) |
3026.973 |
1809.778 |
1482.716 |
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PROFIT BEFORE
TAX (A-B) (C) |
(658.847) |
(24.979) |
(149.654) |
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Less |
TAX (D) |
0.000 |
0.000 |
112.849 |
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PROFIT AFTER TAX
(C-D) (E) |
(658.847) |
(24.979) |
(262.513) |
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TOTAL FOREIGN
EXCHANGE EARNINGS |
463.663 |
485.132 |
NA |
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Earnings Per
Share (Rs.) |
(8.38) |
(0.53) |
(2.75) |
|
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%20PRIVATE%20LIMITED%20-%20192278%2001-Sep-2012_files/image002.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20192278%2001-Sep-2012_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(27.82) |
(1.40) |
(19.71) |
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
‘(31.24)
|
(1.62) |
(13.31) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(40.29) |
(1.51) |
(13.51) |
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Return on Investment (ROI) (PBT/Networth) |
|
(2.04) |
(0.04) |
(0.62) |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.07 |
1.71 |
1.35 |
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Current Ratio (Current Asset/Current Liability) |
|
1.49 |
2.01 |
2.82 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITOR
DETAILS:
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry
Creditors |
|
|
|
|
-
Due Others |
811.250 |
504.200 |
228.816 |
|
-
Due Small Micro Enterprises |
0.000 |
0.000 |
0.001 |
|
Total |
811.250 |
504.200 |
228.817 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
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9] |
Name of person contacted |
Yes |
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10] |
Designation of contact
person |
Yes |
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11] |
Turnover of firm for last
three years |
Yes |
|
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 |
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 |
Change of address:
The Registered Office of the company has been
shifted from F-40, N.D.S.E. part I,
FINANCIAL PROSPECTS
OF THE COMPANY:
The Board notes that the Networth of the Company as on 31st day of March 2010, as per the audited financial statement stood at a negative Rs.842.892 Millions. Further, during the year ended 31st March of 2011, the Company has incurred a loss of Rs. 658.847 Millions
The Board also notes that during the year FY 2010-2011, Disney Enterprises Inc., the Holding Company has infused a sum of Rs. 371.148 Millions as Equity share capital. Based on information available as on date, the Board expects further equity share capital infusion to happen during Financial Year 2011-2012. The Board also notes the cash flow expected to be generated during the FY 2011-2012, from the cash flow budget statement.
Based on (a) the equity infusion from the Holding Company, (b) the support letter provided by the Holding Company to the effect that the Holding Company will continue to provide the necessary operating and financial support to the Company, to continue its operations and meet all its liabilities during the year ending on 31st March of 2012, and for the foreseeable future, and (c) considering the business plans for the next three to five years, and (d) the cash flow projections, the Board is of the view that your Company is a going concern. Accordingly, the Annual accounts for the year ended 31st March 2011, of the Company has been prepared on that basis.
CONTINGENT LIABILITY (AS ON 31.03.2011) :
a) Claim against the Company not acknowledged as debts Rs. 0.836 Million (March 31, 2010: Rs. 0.382 Million).
b) Disputed income-tax matters aggregating Rs. 36.673 Millions (March 31, 2010: Rs. Nil), details of which are as under:
(i) In respect of Assessment Year 2008-2009, Rs. 20.001 Millions (March 31, 2010: Rs. Nil) being the effect of short credit of taxes paid, granted by the Income Tax authorities. The Company has filed rectification applications with Deputy Commissioner of Income Tax against the same.
(ii) In respect of Assessment Year 2006-2007 to 2010-2011, Rs. 16.672 Millions (March 31, 2010: Rs. Nil) being demand raised by the Income Tax authorities in respect of certain short deductions/ payments of withholding taxes. The Company has preferred appeals to the Commissioner of Income Tax (Appeals) against the orders.
c) The Company is subject to inter-alia, levy of Value Added Tax (VAT) on revenue earned from grant of copyright license on theatrical distribution of cinematographic films. In anticipation of receiving positive response to a representation made by the Film and Television Producers Guild of India to the Chief Minister of Maharashtra and the Finance Minister of Maharashtra seeking administrative relief vis-à-vis levy of VAT on the license of copyrights, and another similar representations made by the Film Industry to the Government, the Company did not levy/ collect/remit VAT on its invoices raised to earn revenue from grant of copyright license on theatrical distribution of cinematographic films. Further, the Government of Maharashtra vide its Notification No. VAT-1511/CR-54(2)/Taxation-1 dated April 27, 2011, has exempted ‘distribution and exhibition of cinematographic films in theatres and cinema halls’ from levy of Maharashtra VAT, with effect from May 1, 2011.
FIXED ASSETS:
- Leasehold Improvements
- Plant and Machinery and Office Equipment
- Computers and Peripherals
- Computer
Software
- Furniture and fixtures
- Vehicles
AS PER WEBSITE
DETAILS
COMPANY
INTRODUCTION
Welcome to the wonderful world of
Disney in
The Walt Disney Company has an 85 year heritage of creativity and innovation,
and for generations, the Disney name has come to represent trust, decency,
optimism and quality.
Disney, together with its subsidiaries and affiliates, is a leading diversified
international family entertainment and media enterprise with five business
segments:
- Media
Networks – Walt Disney Television International (
- Disney
Interactive Media Group - Disney Online (DOL) and Disney Interactive
Studios (DIS)
- Studio
Entertainment - Walt Disney Studios Motion Picture International, Walt
Disney Studios Home Entertainment, Disney Music Group, Disney Theatrical
Group
- Disney
Consumer Products – Consumer Products, Publishing
- Parks
and Resorts
Disney is a Dow 30 Company, had
annual revenues of over US$36 billion in its most recent fiscal year, and a
market capitalization of US$66.85 billion as of July 25th, 2010. Worldwide, the
Walt Disney Company has approximately 144,000 employees.
In 2007 and 2008, BusinessWeek magazine named Disney as the World’s Most
Innovative Entertainment/Media Company. Disney was ranked #10 in its Best 100
Global Brands study (by Interbrand) in 2009, and # 1 in the media entertainment
category. In July 2010, Fortune magazine named Disney at #20 in The World's
Most Valuable Brands survey, the only entertainment company to appear in the
top 50 list.
COMPANY HISTORY :
For more than eight decades, the name
Walt Disney has been preeminent in the field of family entertainment. From
humble beginnings as a cartoon studio in the 1920s to today's global
corporation, The Walt Disney Company continues to proudly provide quality
entertainment for every member of the family, across
The Disney Family Museum Web site
is produced and maintained by the Walt Disney Family Foundation, a nonprofit
organization. Founded in 1995, the Foundation strives to promote education, writing,
and scholarship about Walt Disney.
The Disney Legends program was
established in 1987 to acknowledge and honor the many individuals whose
imagination, talents, and dreams have created the Disney magic. Since its
inception, the program has honored many gifted animators, Imagineers, song
writers, actors and business leaders as having made a significant impact on the
Disney legacy.
COMPANY MILESTONE :
2009:
- Disney
Publishing launched Disney comics (in English and Hindi) and Disney
Workbooks for the first time in
- Disney
announced a direct to retail model for its home entertainment business in
- Disney
Channel successfully launched its fourth OPD – Disney’s Kya Mast Hai Life
in
- Jetix/ Toon Disney rebrands to Disney XD and also launches www.disneyxd.in
2008:
- Disney
Publishing launched regional language books
- Cheetah
Girls One World – Disney Channel Original Movie shot in
- Disney
Channel engaged Hannah fans across
- DCP launches Disney Fine Jewellery with Popley in
2007:
- JETIX LIVE - Power Rangers live events performed across 6
Indian cities
- WDIG launches disney.in
- WDIG deal with Intex to deliver Disney embedded content on
mobile phones
- Disney Channel introduced a two hour telugu block on the
channel
- Shankar Ehsaan Loy composed Inspired By tracks for High School
Musical 2.
- Walt Disney Studios tied-up with Yash Raj Films to co-produce animation
movies.
- Disney Channel wins the Best Kids Channel award for the second
consecutive year from
2006:
- Disney Magic Live: First Disney character-led event for Indian
kids and families
- Disney’s KidSense: first annual kids market research and
knowledge forum in association with GroupM
- Disney Mobile content made available on leading carriers
Airtel, Reliance and Hutch
- Disney Consumer Products (DCP) unveiled specialty stores retail
strategy: Disney Jeans and Disney Artist stores
- DCP targets teen audience with the launch of Retro Mickey wear
- Disney Publishing launches Disney Adventures - 1st
international magazine for kids
- BVITV becomes the 1st
- Disney acquires Hungama TV and makes a strategic investment in
UTV
- Disney Channel continues to deliver on localization strategy
with two local original productions - Vicky Aur Vetaal and Dhoom Machaoo
Dhoom in Hindi
- My School Rocks contest held across
- Disney Channel wins the Best Kids Channel award from
2005:
- Toon Disney launched a Hindi language feed
- Disney Princess franchise launch
2004:
- In Dec 2004, the Walt Disney Company (
- Disney/ Pixar's "THE INCREDIBLES" was the first
PRESS RELEASE:
DISNEY TO ACQUIRE CONTROLLING INTEREST
IN UTV SOFTWARE COMMUNICATIONS LIMITED
(UTV) IN INDIA
BURBANK, CALIF. AND MUMBAI, INDIA (JANUARY 31/FEBRUARY 1, 2012)
Disney and UTV to
integrate operations Ronnie Screwvala named Managing Director, The Walt Disney
Company India
The Walt Disney Company (NYSE: DIS) announced today it will acquire, through a subsidiary, a controlling interest in UTV, one of India's premier media and entertainment companies. The acquisition will be completed through a successful delisting offer and will enable Disney to integrate UTV's current operations. In addition, UTV CEO Ronnie Screwvala has been named Managing Director, The Walt Disney Company India reporting to Andy Bird, Chairman, Walt Disney International.
"Increasing our brand presence and reach in key international markets is a
cornerstone of our growth strategy. This acquisition expands our footprint
significantly and allows us to more effectively build, monetize and brand
multi-platform franchises, and deliver a rich library of content to the world's
second largest population,” said Mr. Bird. "We couldn't be more pleased
that Ronnie, with his vast experience and proven track record, will now run our
operations in India. Under his leadership, we will be able to deliver more
programming on more platforms to this considerable audience.”
As a result of this acquisition and building on UTV's success in the market,
Disney will be India's leading film studio and will produce both UTV and
Disney-branded local films.
UTV is the leading TV producer in India with distribution in 20 countries in
seven languages and across 27 channels. Its six owned channels have emerged as
the fastest growing cable and satellite network in India. In three years UTV
has also become a leading broadcast network in the country. After the
transaction, Disney will be one of the leading broadcasters reaching more than
100 million viewers weekly in households across India. Disney will also gain a
significant presence in digital media with the addition of UTV's Indiagames,
the country's number one mobile gaming company, to its portfolio.
"In combining the creative capabilities of each company we will integrate
a large stable of vibrant brands and franchises in the branded entertainment
space," said Mr. Screwvala. "With the middle class expected to grow
from 50 million to more than 500 million people by 2025, this market offers
huge potential for us to deliver quality branded entertainment to consumers,"
he said.
Disney currently owns India's leading kids' television networks Disney Channel,
Disney XD and Hungama and is the largest retail character licensor in the
country. The Company's mobile, internet and gaming division creates some of
India's most popular content, including Club Penguin, the virtual world for
kids that launched in India in 2010.
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.55.72 |
|
|
1 |
Rs.87.95 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
41 |
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.