|
Report Date : |
15.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE JIO INFOCOMM LIMITED (w.e.f.22.01.2013) |
|
|
|
|
Formerly Known
As : |
INFOTEL BROADBAND SERVICES LIMITED (w.e.f.19.07.2010) INFOTEL BROADBAND SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai - 400021, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation
: |
15.02.2007 |
|
|
|
|
Com. Reg. No.: |
11-234712 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 51752.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2007PLC234712 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
PTLI10699D MUMI179B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI6363G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of providing Broadband Services,
Telecom and Information Technology enabled and related services. |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 206500000 |
|
|
|
|
Status : |
Project Under Implementation |
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|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Reliance Industries Limited’. The project
of the company is under implementation stage. It holds an All India Internet Services Provider (ISP) Category ‘A’
License which entitles it to provide countywide ISP services in India. The net worth of the company is good. It receives better support from
its holding company. Payment terms are unknown. The company can be considered for business dealings with some
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village farming,
modern agriculture, handicrafts, a wide range of modern industries, and a
multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Punit |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-172-4604341 |
|
Date : |
12.04.2013 |
LOCATIONS
|
Registered Office / Corporate Office : |
3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai -
400021, Maharashtra, India |
|
Tel. No.: |
91-22-22785500 |
|
Fax No.: |
91-22-22785560 |
|
E-Mail : |
|
|
|
|
|
Head Office : |
C-135, Industrial Aera, Phase 8, Mohali-160062, Punjab, India |
|
Tel. No.: |
91-172-4604341 |
DIRECTORS
AS ON 27.09.2012
|
Name : |
Mr. Mukesh Dhirubhai Ambani |
|
Designation : |
Chairman |
|
Address : |
Sea Wind, 39, Cuffe Parade, Colaba, Mumbai-400005, Maharashtra, India |
|
Date of Birth/Age : |
19.04.1957 |
|
Date of Appointment : |
22.06.2010 |
|
DIN No.: |
00001695 |
|
|
|
|
Name : |
Mr. Manoj Harjivandas Modi |
|
Designation : |
Director |
|
Address : |
10A/B, Building No.26, Sudhakar Co-operative Housing Society, Narayan
Dabholkar Road, Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
03.07.1957 |
|
Date of Appointment : |
22.06.2010 |
|
DIN No.: |
00056207 |
|
|
|
|
Name : |
Mr. Mahendra Nahata |
|
Designation : |
Director |
|
Address : |
House No.W-48, Greater Kailash, New Delhi-110048, India |
|
Date of Birth/Age : |
19.05.1959 |
|
Date of Appointment : |
22.06.2010 |
|
DIN No.: |
00052898 |
KEY EXECUTIVES
|
Name : |
Mr. Raja Kolumum Ramchandran |
|
Designation : |
Manager |
|
Address : |
F No.1703-1704, Building No.1, Raheja Classique, New Link Road,
Oshieara, Andheri (West), Mumbai-400053, Maharashtra, India |
|
Date of Birth/Age : |
19.12.1956 |
|
Date of Appointment : |
22.06.2010 |
|
PAN No.: |
ADLPR6435Q |
|
|
|
|
Name : |
Mr. Ratnesh Prasad Rukhariyar |
|
Designation : |
Secretary |
|
Address : |
302, Trishul Terrace, Plot No.36/37, Koperkhairane, Navi
Mumbai-400709, Maharashtra, India |
|
Date of Birth/Age : |
06.02.1980 |
|
Date of Appointment : |
16.11.2011 |
|
PAN No.: |
AHEPR6330F |
|
|
|
|
Name : |
Mr. Punit |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2012
|
Names of Equity Shareholders |
No. of Shares |
|
Reliance Industries Limited, India |
4797689995 |
|
K Sethuraman
jointly with Reliance Industries Limited, India |
1 |
|
K. R.Raja
jointly with Reliance Industries Limited, India |
1 |
|
Pankaj Mohan
Pawar jointly with Reliance Industries Limited, India |
1 |
|
Ramesh Kumar
Damani jointly with Reliance Industries Limited, India |
1 |
|
Kiran Mathew
Thomas jointly with Reliance Industries Limited, India |
1 |
|
Anant Nahata |
75753000 |
|
Nextwave
Communications Private Limited, India |
37876500 |
|
Infotel Telecom
Holdings Private Limited, India |
6312750 |
|
Digivision
Content Solutions Private Limited, India |
4292670 |
|
Vikash Agarwal |
2020080 |
|
Infotel Infocomm
Enterprises Private Limited, India |
126255000 |
|
TOTAL
|
5050200000 |
|
Names of Preference Shareholders |
No. of Shares |
|
Reliance Industrial Investments and Holdings Limited, India |
125000000 |
|
TOTAL |
125000000 |
AS ON 31.03.2013
|
Names of 9% Cumulative Redeemable Preference Shareholders (Allottees) |
No. of Shares |
|
Reliance Industrial Limited, India |
2647000000 |
|
TOTAL |
2647000000 |
AS ON 27.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
98.46 |
|
Directors or relatives of Directors |
1.50 |
|
Other top fifty shareholders |
0.04 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of providing Broadband Services,
Telecom and Information Technology enabled and related services. |
|
|
|
|
Services : |
Broadband Services |
GENERAL INFORMATION
|
Customers : |
·
End Users |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
Axis Bank Limited, Maker Towers, 13th
Floor, Cuffe Parade, Colaba, Mumbai – 400 005, Maharashtra, India Tel No.:- 91-22-22165261 |
||||||||||||
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|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountant |
|
Address : |
714-715, Tulsiani Chambers, Nariman Point, Mumbai-400021, Maharashtra,
India |
|
PAN No.: |
AAAFC0662N |
|
|
|
|
Name : |
S r Batliboi and Associates Chartered Accountant |
|
Address : |
The Ruby, 14th Floor,, 29 Senapati Bapat Marg, Dadar
(West), Mumbai-400028, Maharashtra, India |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Name : |
Atul Kulshrestha and Company Chartered Accountants |
|
Address : |
506, |
|
Tel. No.: |
91-11-41531330/ 41531331/ 41531332 |
|
E-Mail : |
|
|
PAN No.: |
AAHFA0196J |
|
|
|
|
Holding Company : |
Reliance
Industries Limited CIN No.:- L17110MH1973PLC019786 |
|
|
|
|
Subsidiaries : |
Infotel Telecom
Limited CIN No.:-
U64204MH2011PLC213276 Rancore
Technologies Private Limited CIN No.:-
U74999MH2007PTC168562 |
|
|
|
|
Fellow Subsidiaries : |
Reliance
Industrial Investments And Holdings Limited CIN No.:-
U65910MH1986PLC041081 Reliance Fresh
Limited CIN No.:-
U01100MH1999PLC120563 Reliance Digital
Retail Limited CIN No.:-
U70102MH2007PLC170415 Reliance
Leisures Limited CIN No.:-
U52100MH2007PLC175533 Reliance Security
Solutions Limited CIN No.:-
U51109MH2008PLC185401 |
CAPITAL STRUCTURE
AFTER 27.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000000 |
Equity Shares |
Rs.10/- each |
Rs. 75000.000 Millions |
|
2500000000 |
Preference Shares |
Rs.10/- each |
Rs. 25000.000 Millions |
|
|
TOTAL |
|
Rs. 100000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5050200000 |
Equity Shares |
Rs.10/- each |
Rs.
50502.000 Millions |
|
125000000 |
Preference Shares |
Rs.10/- each |
Rs. 1250.000 Millions |
|
|
TOTAL |
|
Rs. 51752.000 Millions |
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6004900000 |
Equity Shares |
Rs.10/- each |
Rs. 60049.000 Millions |
|
150050000 |
Preference Shares |
Rs.10/- each |
Rs. 1500.500 Millions |
|
|
TOTAL |
|
Rs. 61549.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5050200000 |
Equity Shares |
Rs.10/- each |
Rs.
50502.000 Millions |
|
125000000 |
Preference Shares |
Rs.10/- each |
Rs. 1250.000 Millions |
|
|
TOTAL |
|
Rs. 51752.000 Millions |
AS ON 27.09.2012
Authorised Capital : Rs. 150000.000
Millions
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5050200000 |
Equity Shares |
Rs.10/- each |
Rs.
50502.000 Millions |
|
125000000 |
Preference Shares |
Rs.10/- each |
Rs. 1250.000 Millions |
|
2647000000 |
9% Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs. 26470.000 Millions |
|
|
TOTAL |
|
Rs. 78222.000 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 |
51752.000 |
45335.000 |
25.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
(111.300) |
(58.100) |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(9.908) |
|
|
NETWORTH |
51640.700 |
45276.900 |
15.192 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8.900 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
96312.500 |
86892.500 |
74.729 |
|
|
TOTAL BORROWING |
96321.400 |
86892.500 |
74.729 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
147962.100 |
132169.400 |
89.921 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
28.700 |
12.300 |
16.463 |
|
|
Capital work-in-progress |
149694.200 |
133804.100 |
64.534 |
|
|
|
|
|
|
|
|
INVESTMENT |
116.600 |
16.200 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000
|
|
|
Sundry Debtors |
0.300
|
0.500
|
0.065
|
|
|
Cash & Bank Balances |
11.200
|
9.300
|
1.607
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
1244.800
|
186.600
|
10.743
|
|
Total
Current Assets |
1256.300
|
196.400 |
12.415 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000
|
1.746 |
|
|
Other Current Liabilities |
1691.000
|
1856.500
|
0.616
|
|
|
Provisions |
1442.700
|
3.100
|
1.129
|
|
Total
Current Liabilities |
3133.700
|
1859.600 |
3.491 |
|
|
Net Current Assets |
(1877.400)
|
(1663.200)
|
8.924
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
147962.100 |
132169.400 |
89.921 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1.200 |
2.000 |
1.478 |
|
|
|
Other Income |
3.500 |
4.600 |
0.087 |
|
|
|
TOTAL (A) |
4.700 |
6.600 |
1.565 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-trade |
0.400 |
0.000 |
0.000 |
|
|
|
Employees Benefits Expenses |
20.400 |
4.300 |
0.000 |
|
|
|
Other Expenses |
27.500 |
45.400 |
6.461 |
|
|
|
TOTAL (B) |
48.300 |
49.700 |
6.461 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(43.600) |
(43.100) |
(4.896) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.900 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(44.500) |
(43.100) |
(4.896) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.700 |
5.100 |
5.012 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(53.200) |
(48.200) |
(9.908) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(53.200) |
(48.200) |
(9.908) |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
162.900 |
23.200 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.01) |
(0.05) |
(3.95) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(1131.91)
|
(730.30) |
(633.10)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(4433.33)
|
(2410.00) |
(670.37)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.14)
|
(23.10) |
(34.31)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00 |
(0.65)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.87
|
1.92 |
4.92
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.40
|
0.11 |
3.56
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
|
UNSECURED LOAN |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Non convertible debentures for banks |
10000.000 |
10000.000 |
|
Non convertible debentures for others |
10000.000 |
10000.000 |
|
Foreign Currency Term Loans from Banks |
76312.500 |
66892.500 |
|
|
|
|
|
TOTAL |
96312.500 |
86892.500 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
|
|
|
|
- Due to Micro,
Small and Medium Enterprises |
0.000 |
0.000 |
0.000 |
|
- Others |
0.000 |
0.000 |
1.746 |
|
|
|
|
|
|
TOTAL |
0.000 |
0.000 |
1.746 |
NOTE
Registered office has been shifted C-135, Industrial Aera, Phase 8,
Mohali-160062, Punjab, India to the present address w.e.f. 21.08.2012.
OPERATIONAL REVIEW
The Company holds
an All India Internet Service Provider (ISP) Category 'A' License which
entitles it to provide countrywide ISP services in India. The Company is
providing bandwidth to a few clients in a limited scale.
The Company was
the only successful bidder in all of the 22 telecom service areas in the
Broadband Wireless Access (“BWA”) spectrum auction conducted by Department of
Telecommunications, Government of India. The Company can offer broadband
services across the nation through the 20 Mhz, contiguous, pan-India spectrum
secured through this acquisition.
The Company is in
the process of setting up a world class broadband network using
state-of-the-art technologies and finalizing the technical and commercial
arrangements with the leading global technology companies, service providers,
infrastructure providers, application developers, device manufacturers and few
others to help usher the broadband revolution into India. The Company perceives
the broadband opportunity as a new frontier of knowledge economy in which it
can take a leadership position and provide India with an opportunity to be in
the forefront among the countries providing world class broadband network and
services. The Company aims to be a
comprehensive,
value added digital services player, providing rich, affordable multimedia
enabled digital services and experiences to crores of their citizens across
entertainment, education, healthcare, agriculture, urban-rural market linkages,
government-citizen interfaces, thereby increasing productivity and employment
potential not only in the formal, but also informal sector of the economy which
provides livelihood to more than 90% of the labour force. This makes the
Company’s strategy closely aligned to India’s national goals.
AMALGAMATION (AS
ON 31.03.2011)
During the year
the Hon'ble High Court of Punjab and Haryana and Hon'ble High Court of Delhi
sanctioned the Scheme of Amalgamation ("Scheme") pursuant to which
Infotel Digicomm Private Limited (IDPL) and Infotel Holdings Private Limited
(IHPL) were amalgamated with the Company. The Scheme became effective on 16th
February 2011 with the appointed date of the Scheme being 1st April 2010. In
terms of the Scheme, the Company issued and allotted 25,25,10,000 Equity Shares
of Rs.10/- each to the existing Equity Share holders of IHPL and 12,50,00,000
Preference Shares of Rs.10/- each to the Preference Shareholders of IDPL.
Further in terms
of the said Scheme, the Authorised Share Capital of the Company increased to
Rs. 61549.500 Millions.
FIXED ASSETS
·
Leasehold Improvement
·
Plant and Machinery
·
Office Equipment
·
Furniture and Fixture
·
ISP License Fee
WEBSITE DETAILS
NEWS
AMBANIS CUT RS 12000.000-MILLIONS TELECOM DEAL
Mukesh’s Reliance Jio to use optical fibre network of Anil’s Rcom
New Delhi, April 2:
Nearly eight years after the Ambani brothers parted ways, Mukesh and Anil
are doing business again. Two of their telecom companies have signed a Rs
1,200-crore infrastructure-sharing agreement.
Mukesh Ambani-controlled Reliance Jio Infocomm has signed a Rs 12000.000
Millions deal to use the optical fibre network of Anil Ambani-backed Reliance
Communications.
Reliance Jio will use RCom’s 1,20,000-km-long, nationwide optical fibre
network to provide 4G services.
The Rs 12000.000 Millions deal is for the entire life of the optical fibre
network. RCom will get reciprocal access to the optical fibre infrastructure
that Reliance Jio may build in the future. The companies would also jointly
upgrade the network to provide next generation services.
The agreement is the first in a series of deals between the companies. The
next deal is likely to be for sharing RCom’s tower infrastructure and under-sea
cable network.
In 2005, the Ambani brothers had split up, with Mukesh getting Reliance
Industries and Anil taking control of RCom, power and infrastructure. The
brothers had signed a non-compete agreement, which was amended in 2010.
That very year Reliance Jio, formerly Infotel Broadband, won spectrum to
provide nationwide 4G services, marking Mukesh Ambani’s re-entry into the
telecom sector.
The market gave the deal a thumbs-up, with Reliance Industries gaining over
2 per cent to close at Rs 794 on the National Stock Exchange, while RCom ended
11 per cent higher at Rs 63.45.
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 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. 54.44 |
|
|
1 |
Rs. 83.77 |
|
Euro |
1 |
Rs. 71.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
-- |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.