|
Report Date : |
12.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
IMG RELIANCE PRIVATE LIMITED (w.e.f. 12.07.2010) |
|
|
|
|
Formerly Known
As : |
SWARNAKALASH TRADING PRIVATE LIMITED |
|
|
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Registered
Office : |
Court House, 3rd Floor, Lokmanya Tilak Marg, Dhobi Talao, Mumbai – 400002
Maharashtra |
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|
Country : |
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|
|
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Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
19.01.2008 |
|
|
|
|
Com. Reg. No.: |
11-178019 |
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|
|
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Capital Investment
/ Paid-up Capital : |
Rs.432.534 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52100MH2008PTC178019 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AALCS6150P |
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|
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Event Management. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2500000 |
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|
|
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a reliance Group Company. It is an established company having a moderate track record. The
company is continuously incurring losses from its operations. The reserves of
the company is deteriorating however, the company receives good support from
its group company. Trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with slight
cautions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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.
LOCATIONS
|
Registered Office : |
Court House, 3rd Floor, Lokmanya Tilak Marg, Dhobi Talao, Mumbai – 400002
Maharashtra,
India |
|
Tel. No.: |
91-22-67673800 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
(AS ON 28.09.2012)
|
Name : |
Mr. Mukesh Dhirubhai Ambani |
|
Designation : |
Director |
|
Address : |
Sea Wind, 39, Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra,
India |
|
Date of Birth/Age : |
19.04.1957 |
|
Date of Appointment : |
10.03.2011 |
|
DIN No.: |
00001695 |
|
|
|
|
Name : |
Mrs. Nita Mukesh Ambani |
|
Designation : |
Director |
|
Address : |
Sea Wind, 39, Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra,
India |
|
Date of Birth/Age : |
01.11.1962 |
|
Date of Appointment : |
10.03.2011 |
|
DIN No.: |
03115198 |
|
|
|
|
Name : |
Mr. Ashwin Ahamendra Khasgiwala |
|
Designation : |
Director |
|
Address : |
A -1, Mahavir Prasad CHS, Subhash Nagar Estate, 390, N. M. Joshi Marg,
Chinchpokli, Mumbai – 400011, Maharashtra, India |
|
Date of Birth/Age : |
15.03.1973 |
|
Date of Appointment : |
19.01.2008 |
|
DIN No.: |
00006481 |
|
|
|
|
Name : |
Mr. Michael James Dolan |
|
Designation : |
Director |
|
Address : |
15 E, 69th ST Apartment, 6 C, New York - 10021 |
|
Date of Birth/Age : |
09.11.1946 |
|
Date of Appointment : |
10.03.2011 |
|
DIN No.: |
03121327 |
|
|
|
|
Name : |
Sudhakar Murthy Naratana Saraswatula |
|
Designation : |
Director |
|
Address : |
A/ 161, Brook Heaven, Jogeshwari – Vikhroli Link Road, Near Majas
Depot, Jogeshwari (East), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1957 |
|
DIN No.: |
00001330 |
KEY EXECUTIVES
|
Name : |
Mariappan Madubalraj |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 403, B Wing, Building No. 69, Tilak Nagar, Chembur, Mumbai –
400 089, Maharashtra, India |
|
Date of Birth/Age : |
02.07.1973 |
|
Date of Appointment : |
18.08.2010 |
|
PAN No : |
ACEPM7457R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 28.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Reliance Corporate Services Limited Address: Court House, 3rd Floor, Lokmanya Tilak Marg,
Dhobi Talao, Mumbai - 400002, Maharashtra, India |
|
27088469 |
|
IMG Singapore PTE Limited Address: 1 Scotts Road, Shaw Centre #21-01/03 Singapore
-228208 |
|
27088469 |
|
|
|
|
|
Total |
|
54176938 |
AS ON 22.02.2013
|
Names of Allottees |
|
No. of Shares
Allotted |
|
|
|
|
|
Reliance Corporate Services Limited Address: Court House, 3rd Floor, Lokmanya Tilak Marg,
Dhobi Talao, Mumbai - 400002, Maharashtra, India |
|
1771739 |
|
IMG Singapore PTE Limited Address: 1 Scotts Road, Shaw Centre #21-01/03 Singapore
-228208 |
|
1771739 |
|
|
|
|
|
Total |
|
3543478 |
(AS ON 28.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
50.00 |
|
Bodies corporate |
|
50.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Event Management. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
12, Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai – 400018, Maharashtra, India. |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Joint Venture
Partner : |
· Reliance Industries Limited, India (RIL) · I M G Worldwide INC., US (IMGW) |
|
|
|
|
Investing subsidiary of RIL : |
· Reliance Corporate Services Limited, India CIN No. U51109MH2007PLC176255 · IMG Singapore PTE Limited, Singapore |
CAPITAL STRUCTURE
(AS ON 28.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
65000000 |
Equity Shares |
Rs.10/- each |
Rs.650.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
61916466 |
Equity Shares |
Rs.10/- each |
Rs.619.164
Millions |
|
|
|
|
|
AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
65000000 |
Equity Shares |
Rs.10/- each |
Rs.650.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
54176938 |
Equity Shares |
Rs.10/- each |
Rs.541.769
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43253370 |
Equity Shares |
Rs.10/- each |
Rs.432.534
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
432.534 |
358.154 |
0.100 |
|
|
2] Share Application Money |
40.287 |
79.660 |
0.000 |
|
|
3] Reserves & Surplus |
141.548 |
246.693 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(0.038) |
|
|
NETWORTH |
614.369 |
684.507 |
0.062 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
614.369 |
684.507 |
0.062 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
639.711 |
685.760 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
24.500 |
68.860 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
101.693
|
20.420 |
0.000 |
|
|
Cash & Bank Balances |
2.911
|
1.499 |
0.066 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
97.297
|
16.152 |
0.000 |
|
Total
Current Assets |
201.901
|
38.071 |
0.066 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
226.644
|
106.063 |
0.004 |
|
|
Other Current Liabilities |
23.586
|
2.121 |
0.000 |
|
|
Provisions |
1.513
|
0.000 |
0.000 |
|
Total
Current Liabilities |
251.743
|
108.184 |
0.004 |
|
|
Net Current Assets |
(49.842)
|
(70.113) |
0.062 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
614.369 |
684.507 |
0.062 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
432.700 |
82.500 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
723.795 |
254.078 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(291.095) |
(171.578) |
(0.007) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(291.095) |
(171.578) |
(0.007) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(171.616) |
(0.038) |
(0.031) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(462.711) |
(171.616) |
(0.038) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
38.261 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(7.14) |
(13.73) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(67.27)
|
(207.97) |
N.A |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(34.59)
|
(23.70) |
(10.61) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.47)
|
(0.25) |
(0.11) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.80
|
0.35 |
16.50 |
LOCAL AGENCY FURTHER INFORMATION
|
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 two years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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 of the company has been
shifted from 2nd Floor, “Chitrakoot” Shreeram Mills Premises,
Ganpatrao Kadam Marg, Worli, Mumbai – 400 013, Maharashtra, India to the present
address w.e.f. 21.08.2010
OPERATIONAL REVIEW:
The Company has earned total income of Rs 432.700 Millions from operations as against Rs.82.500 Millions during the previous year, registering a growth of more than fivefold. Income from broadcasting right sales is increased to Rs 254.800 Millions against Rs 82.700 Millions in the previous year.
During the year, the company sold the football broadcasting rights in regional, national and international territory. This will strengthen the initiative of the Company to improve, popularize and promote the game of football throughout India, from grassroots to the professional level in cooperation with All India Football Federation (AIFF).
The company has successfully organized Aircel Chennai Open Tennis Championship in January, 2012 and two seasons of Lakme Fashion week in collaboration with Hindustan Unilever Limited. The company has earned Rs191.600 Millions from the sale of sponsorship and other related services during the year.
Operating Cost of the company has increased to Rs. 444.500 Millions as against Rs. 124.400 Millions in previous year due to the commitment of Commercial right fee payment to All India Football Federation (AIFF) and Basketball Federation of India (BFI).
FIXED ASSETS:
·
Furniture and Fixtures
·
Office Equipments
·
Other Equipments
PRESS REALEASE:
RELIANCE INDUSTRIES
AND IMG WORLDWIDE FORGE ALLIANCE (IMG RELIANCE)
March 14, 2010
Mumbai: Reliance Industries Limited (RIL) and IMG, the world’s leading sports marketing and management company, announced an equal joint venture to develop, market and manage sports and entertainment in India. The venture, IMG Reliance Private Limited, will have parallel complementary strategies: to provide and operate world class infrastructure and coaching facilities in the country to unlock India’s sporting potential and; to create and operate major sports and entertainment assets in the country.
The senior management teams of the two organizations led by their respective Chairmen Mukesh Ambani and Ted Forssmann have formulated clear ambitions and strategies for the joint venture company. IMG Reliance Private Limited will harness IMG’s international expertise gained in over 50 years in the business of sport, entertainment and celebrity management with RIL’s expertise in the domestic market, strategic planning and flawless execution.
Immediate
initiatives:
· Under the auspices of The Reliance Foundation, the recently formed corporate social responsibility initiative of Reliance Industries, state of the art sporting academies will be developed to provide world class coaching and training facilities for Indian sportsmen and sportswomen. The required infrastructure investment will be provided by The Reliance Foundation. IMG owns IMG Academies (IMGA) in Bradenton, Florida the world’s leading sporting and educational institution which has many alumni who have pursued successful professional sporting careers on the world stage. IMGA will provide management knowledge and coaching skills transfer to the management and coaching teams of the Academies in India which will be managed by the joint venture
· In parallel to the development of the Academies in India, a scholarship program will be initiated which will identify talented Indian athletes who will be provided with full sporting and academic scholarships to IMGA in Florida. Additionally a fully funded program to develop Indian coaching potential will be initiated in preparation for the opening of the Academy in India once construction is completed.
· The joint venture will develop new sports and entertainment assets in India modeled on the sporting, commercial and investment structures of such assets in mature sports and entertainment market places.
· Plans are underway to create India’s first Super Agency which will offer 360 degree management to celebrities from the worlds of sport, Bollywood, fashion and which will develop, own and operate assets in these sectors.
· Management of IMG’s existing business and assets in India including the Aircel Chennai Open –India’s Association of Tennis Professionals (ATP) World Tour event and Lakmé Fashion Week –India’s premier lifestyle and fashion event will be transferred to the joint venture. IMG’s responsibilities to the BCCI for IPL will not transfer to the joint venture and will continue to be managed by IMG’s international business and executive team.
Commenting on the initiative, Mr. Mukesh Ambani, Chairman and Managing Director, Reliance Industries said, “Development of sports and the sporting culture is a social imperative for India in the 21st Century. World class infrastructure, frugal engineering, technology and scientific coaching are integral part of development of today’s sporting talent globally. IMG has an enviable track record of leveraging these aspects and identifying, training and developing champion talent across disciplines. With IMG’s five decade experience, we are embarking on an exciting journey to transform the sporting fabric in the country. Our Joint Venture Company will actively work with like minded organizations and invest in developing immensely talented young Indians.”
” I am excited about the comprehensive relationship with IMG which will seek to unlock the potential of young India at a global platform. Reliance Foundation will invest in the infrastructure development of the globally renowned IMG Academies in India. We will also offer scholarships to promising youngsters to help them get the very best of global training and coaching facilities. We are committed to undertake grassroots development programme to make a fundamental difference to the lives of millions of youngsters in the country based beyond the big cities,” added Mrs. Nita Ambani, Member on the Board, IMG Reliance Private Limited.
On this occasion, Ted Forssmann, Chairman and CEO of IMG, said “IMG is delighted to be joining forces with RIL, the most important company in India. The performance of Indian athletes on the national and international stage will improve dramatically with the correct development strategies. This is what IMG has been doing for 50 years, both at IMG Academies in Florida and many other places around the world. As a consequence, the commercial performance of sport and entertainment in India will be enhanced. IMG firmly believes that in order to build valuable commercial sports, entertainment and media assets it is at first essential to address infrastructural, coaching and accessibility challenges. This joint venture will address these challenges and in time, we anticipate, benefit from the commercial growth that follows.”
About Reliance
Industries Limited
Reliance Industries Limited (RIL) is India’s largest private sector company on all major financial parameters with a turnover of Rs. 1463280.000 Millions (US$ 28.85 billion), cash profit of Rs 223650.000 Millions (US$ 4.41 billion), net profit (excluding exceptional income) of Rs. 156370.000 Millions. (US$ 3.02 billion) and net worth of Rs 1263730.000 Millions. (US$ 24.92 billion) as of March 31, 2009.
RIL is the first private sector company from India to feature in the Fortune Global 500 list of 'World's Largest Corporations' and ranks 117th amongst the world's Top 200 companies in terms of profits. RIL ranks 75th in the Financial Times FT Global 500 list of the world's largest companies. RIL is rated as the 15th ‘Most Innovative Company' in the World in a survey conducted by the US financial publication-Business Week in collaboration with the Boston Consulting Group.
About IMG Worldwide
Operating in 30 countries, IMG Sports and Entertainment's diverse businesses include: product and brand licensing; consulting services; event ownership and management; collegiate marketing, media and licensing; fashion events and models representation; golf course design; and client representation in golf, tennis, broadcasting, speakers, European football, rugby, cricket, motor sports, coaching, Olympic and action sports. IMG Academies are the world's largest, multi-sport training and educational facilities, delivering world-class training experiences to more than 12,000 junior, collegiate, adult, and professional athletes each year.
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.54.46 |
|
|
1 |
Rs.83.13 |
|
Euro |
1 |
Rs.70.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
35 |
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.