|
Report Date : |
09.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
PAN INDIA NETWORK LIMITED [w.e.f.20.04.2009] |
|
|
|
|
Formerly Known
As : |
PAN INDIA NETWORK PRIVATE LIMITED [w.e.f.01.12.2008] NEPTUNE GAMING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
135, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.09.2006 |
|
|
|
|
Com. Reg. No.: |
11-164863 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 515.852
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92490MH2006PLC164863 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN14368E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCN4197N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of providing the infrastructure in
terms of the hardware, networking, and software for operation of online
lotteries/ other gaming solutions and also provides the distribution channels
and marketing/ publicity services for sale of online lottery. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 9010000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a satisfactory track
record. Financial position seems to be strong. Trade relations are reported to
be fair. Business is active. Payments are reported to be usually correct and
as per commitments. The company can be considered for normal business dealings at usual
trade terms and condition. |
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve their
business models with the changing time. Readers’ Digest, Thomson Register are
no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE [91-22-66971234]
LOCATIONS
|
Registered/ Corporate Office : |
135, |
|
Tel. No.: |
91-22-66535653/ 25/ 66971234 |
|
Fax No.: |
91-22-24988728/ 24900302/ 24900213 |
|
E-Mail : |
subramanian@playwin.esselgroup.com
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Regional Offices : |
Located at: v New Delhi v Kolkata v Pune v Hyderabad v Chennai v Bangalore |
|
|
|
|
International Offices : |
Located at: v USA v United Kingdom v South Africa v Singapore v Mauritius v China v Malaysia v Dubai v Russia (Moscow) |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Subramanian Arumugham |
|
Designation : |
Whole-time director |
|
Address : |
A-105, Rajanigandha Sanghi Vigarden Manpada Road , Dombivali (East),
Thane - 421204, Maharashtra, India |
|
Date of Birth/Age : |
06.06.1955 |
|
Qualification : |
EMBA-Finance |
|
Date of Appointment : |
03.05.2007 |
|
PAN No.: |
ACKPA9941N |
|
DIN No.: |
01481916 |
|
|
|
|
Name : |
Mr. Prahalad Ray Mundra |
|
Designation : |
Whole-time director |
|
Address : |
201, H-Wing, Ekta Bhoomi Garden, D.P. Road, Brorivali (East), Mumbai -
400066, Maharashtra, India. |
|
Date of Birth/Age : |
03.07.1974 |
|
Qualification : |
CA, CS |
|
Date of Appointment : |
14.08.2007 |
|
PAN No.: |
AIGPM3261R |
|
DIN No.: |
01858658 |
|
|
|
|
Name : |
Mr. Ashok Balvantrai Sanghvi |
|
Designation : |
Additional director |
|
Address : |
8, Rajdeep, G G Gupta Road, Dombivli [West], Thane – 421202,
Maharashtra, India |
|
Date of Birth/Age : |
20.07.1952 |
|
Qualification : |
B Com |
|
Date of Appointment : |
17.03.2009 |
|
DIN No.: |
00138475 |
|
|
|
|
Name : |
Mr. Vishal Anil Malhotra |
|
Designation : |
Additional director |
|
Address : |
8 Prem Court, J D Tata Road, Churchgate, Mumbai – 400020, Maharashtra,
India |
|
Date of Birth/Age : |
30.12.1975 |
|
Qualification : |
B E (Computers) |
|
Date of Appointment : |
27.05.2009 |
|
DIN No.: |
00129255 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Goenka |
|
Designation : |
Chief Executive Officer |
|
Date of Birth/Age : |
36 Years |
|
Qualification : |
DBM |
|
Experience : |
12 Years |
|
PAN No.: |
AAHPG1139M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Equity Shareholders |
|
No. of Shares |
|
Churu Trading Company Private Limited, India |
|
1140795 |
|
Ganjam Trading Company Private Limited, India |
|
2421569 |
|
Prajatama Trading Company Private Limited, India |
|
2862975 |
|
Ashok Kurien |
|
299325 |
|
Ashok Goel |
|
11059 |
|
Jawahar Goel |
|
7338 |
|
Veena Investments Private Limited, India |
|
3991611 |
|
Hermitage Investment and Trading Private Limited, India |
|
237288 |
|
Premier Finance and Trading Company Private Limited, India |
|
20 |
|
Briggs Trading Company Private Limited, India |
|
60 |
|
Navyata Goenka |
|
2120 |
|
Prajatma Enterprises LLP, India |
|
1000 |
|
|
|
|
|
Total |
|
10975160 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Zee Network Employee Welfare Association, India |
|
5000 |
|
Tashi Delek Gaming Solutions Private Limited, India |
|
1000 |
|
Churu Trading Company Private Limited, India |
|
3405000 |
|
Prajatama Trading Company Private Limited, India |
|
600000 |
|
Churu Trading Company Private Limited, India |
|
50000 |
|
|
|
|
|
Total |
|
4061000 |
AS ON 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
97.07 |
|
Other
top fifty shareholders |
|
2.93 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of providing the infrastructure in terms
of the hardware, networking, and software for operation of online lotteries/
other gaming solutions and also provides the distribution channels and
marketing/ publicity services for sale of online lottery. |
||||
|
|
|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
v Axis Bank v Bank of Baroda v HDFC Bank Limited v ICICI Bank Limited v Standard Chartered Bank v IDBI Bank Limited v State Bank of India, Commercial
Branch, NGN Vaidya Marg, Fort, Mumbai - 400023, Maharashtra, India v The Jammu and Kashmir Bank Limited,
(Corporate Headquarters), M.A. Road, Srinagar, Kashmir, (Branch Office)
Andheri [East], Mumbai, Maharashtra, Srinagar - 190001, Jammu And Kashmir,
India v The Bank of
Rajasthan Limited, 195 Kalbadevi Road, Mumbai, Mumbai - 400002, Maharashtra,
India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lodha and Company Chartered Accountants |
|
Address : |
6, Karim Chambers, 40, Ambalal Doshi Marg, Hamam Street, Mumbai - 400001,
Maharashtra, India. |
|
Tel. No.: |
91-22-40021140/ 22651190/ 22691414/ 22691515 |
|
Fax No.: |
91-22-22650126 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AABFL1893K |
|
|
|
|
Subsidiary
company : |
v Smart Wireless
Private Limited [U64202MH2006PTC166470] v Playwin Gaming
Pte. Limited |
|
|
|
|
Associates : |
v Essel Ludhiana
Talwandi Toll Roads Private Limited [U45203MH2010PTC211120] v Ecool Gaming
Solutions Private Limited [U92412MH2001PTC133254] v Tashi De Lek
Gaming Solutions Private Limited [U92199MH2001PTC132773] v Premier Finance and
Trading Company Limited [U65990MH1977PLC019636] v Edisons
Continental Laboratories Private Limited [U74999MH1946PTC005187] v Mumbai Football
Club Private Limited [U93090MH2007PTC170504] v Churu Trading
Company Private Limited [U51900MH1982PTC028133] v Ultra Entertainment
Solutions Private Limited [U72900MH2001PTC131729] v Sports Hub
Private Limited [U92412MH2008PTC186406] v Jay Properties
Private Limited [U70100MH1980PTC022852] v Essel Shyam
Communication Limited [U64200DL1996PLC078558] v Essel Shyam
Technologies Limited [U64202DL2001PLC112437] v Zee
Entertainment Enterprises Limited [L92132MH1982PLC028767] v Essel Adi Smart
Grid Solutions Limited [U74120MH2010PLC210702] v Essel Corporate
Resources Private Limited [U74140MH2002PTC136737] v Continental Drug
Company Private Limited [U74999MH1946PTC005161] v Zee News Limited
[L92100MH1999PLC121506] v Pan India
Network Infravest Private Limited [U45201MH2001PTC133172] v Itz Cash Card
Limited [U74999MH2006PLC160835] v Jayneer Capital
Private Limited [U61190MH1986PTC039204] v Direct Media
Solutions Private Limited [U74999MH2007PTC168664] v Siti Cable
Network Limited [L64200MH2006PLC160733] v Creative Gaming
Solutions Private Limited [U74999MH2003PTC203524] v Rama Associates
Limited [U63022DL1978PLC009193] v Dish TV India
Limited [L51909DL1988PLC101836] v Essel
Infraprojects Limited [U74999MH1987PLC044006] v Sports Hub
Private Limited [U92412MH2008PTC186406] v Taj Television
(India) Private Limited [U92190MH2002PTC135002] v Diligent Media
Corporation Limited [U22120MH2005PLC151377] v Dakshin Media
Gaming Solutions Private Limited [U92130MH2003PTC140445] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,010,000 |
Equity Shares |
Rs. 10/- each |
Rs. 110.100 Millions |
|
4,199,000 |
Preference Shares |
Rs. 100/- each |
Rs. 419.900 Millions |
|
|
Total |
|
Rs. 530.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,975,160 |
Equity Shares |
Rs. 10/- each |
Rs. 109.752 Millions
|
|
4,061,000 |
Preference Shares |
Rs. 100/- each |
Rs. 406.100
Millions |
|
|
Total |
|
Rs. 515.852 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
515.852 |
510.852 |
|
(b) Reserves & Surplus |
|
1735.987 |
918.443 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2251.839 |
1429.295 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1356.218 |
2387.468 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
11.843 |
10.205 |
|
Total
Non-current Liabilities (3) |
|
1368.061 |
2397.673 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
142.448 |
115.736 |
|
(c)
Other current liabilities |
|
1536.341 |
1350.898 |
|
(d)
Short-term provisions |
|
0.665 |
8.714 |
|
Total
Current Liabilities (4) |
|
1679.454 |
1475.348 |
|
|
|
|
|
|
TOTAL |
|
5299.354 |
5302.316 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
449.022 |
527.971 |
|
(ii)
Intangible Assets |
|
16.523 |
27.394 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
621.451 |
1663.825 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
227.473 |
580.045 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
1314.469 |
2799.235 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
14.830 |
18.552 |
|
(c)
Trade receivables |
|
76.640 |
94.706 |
|
(d)
Cash and cash equivalents |
|
63.613 |
52.351 |
|
(e)
Short-term loans and advances |
|
3327.299 |
2256.611 |
|
(f)
Other current assets |
|
502.503 |
80.861 |
|
Total
Current Assets |
|
3984.885 |
2503.081 |
|
|
|
|
|
|
TOTAL |
|
5299.354 |
5302.316 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
510.852 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
877.220 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1388.072 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1259.591 |
|
|
2] Unsecured Loans |
|
|
2265.892 |
|
|
TOTAL BORROWING |
|
|
3525.483 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4913.555 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
631.901 |
|
|
Capital work-in-progress |
|
|
44.980 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1719.934 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
24.497 |
|
|
Sundry Debtors |
|
|
87.451 |
|
|
Cash & Bank Balances |
|
|
77.723 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
3263.016 |
|
Total
Current Assets |
|
|
3452.687 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
383.865 |
|
|
Other Current Liabilities |
|
|
526.028 |
|
|
Provisions |
|
|
26.054 |
|
Total
Current Liabilities |
|
|
935.947 |
|
|
Net Current Assets |
|
|
2516.740 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4913.555 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
6425.691 |
6263.030 |
22388.825 |
|
|
|
Other Income |
483.351 |
499.864 |
372.832 |
|
|
|
TOTAL (A) |
6909.042 |
6762.894 |
22761.657 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
5998.702 |
5687.699 |
21076.505 |
|
|
|
Employee benefit expense |
114.224 |
124.688 |
135.002 |
|
|
|
Other expenses |
193.652 |
354.679 |
784.952 |
|
|
|
TOTAL (B) |
6306.578 |
6167.066 |
21996.459 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
602.464 |
595.828 |
765.198 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
432.703 |
430.760 |
502.674 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
169.761 |
165.068 |
262.524 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
87.321 |
112.845 |
131.841 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
82.440 |
52.223 |
130.683 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.896 |
11.000 |
29.730 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
72.544 |
41.223 |
100.953 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
614.106 |
572.883 |
471.930 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
686.650 |
614.106 |
572.883 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.61 |
3.76 |
9.20 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.05
|
0.61 |
0.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.28
|
0.83 |
0.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.76
|
1.44 |
3.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.04 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.60
|
1.67 |
2.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.37
|
1.70 |
3.69 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Current maturities of long-term debt |
1125.000 |
875.000 |
NA |
|
|
|
|
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10247444 |
09/08/2010 |
2,300,000,000.00 |
JAMMU AND KASHMIR BANK LIMITED |
(CORPORATE HEADQUARTERS), M.A.ROAD, SRINAGAR, KASHMIR, (BRANCH OFFICE) ANDHERI EAST, MUMBAI, MAHARASHTRA, SRINAGAR - 190001, JAMMU AND KASHMIR, INDIA |
A94458858 |
|
2 |
10158093 |
30/03/2009 |
250,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
NGN VAIDYA MARG, FORT, MUMBAI - 400023, |
A62479464 |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
LONG-TERM
BORROWINGS |
|
|
|
Term loans from banks |
656.250 |
937.500 |
|
Total |
656.250 |
937.500 |
CORPORATE
INFORMATION
Subject is a public limited company domiciled in India and incorporated
under the provisions of the Companies Act, 1956. The Company is in the business
of providing the infrastructure in terms of the hardware, networking, and
software for operation of online lotteries/other gaming solutions. The Company
also provides the distribution channels and marketing / publicity services for
sale of online lottery. These services are provided to the other group
companies who have the licensee to operate the online lotteries from various
states.
OPERATIONS:
During the year, the Company entered into agreement with one more licencee company and launched on-line lotteries promoted by Mizoram State Government on their behalf. During the year, total sale of the company was Rs.6425.700 Millions as compared to Rs.6263.000 Millions in the previous year. The profit before interest and tax was Rs.602.400 Millions as compared to Rs.595.800 Millions in the previous year.
Going forward their focus on the business of on-line lotteries
is expected to result in further enhancement of their performance.
CONTINGENT
LIABILITIES:
a) Bank Guarantees given by the Company Rs.149.500 Millions (previous year Rs. 71.850 Millions) for associates, secured by pari passu second charge on fixed assets, pledge of certain investment of promoters, mortgage of immovable property and guarantees of certain associate bodies corporate.
b) Disputed Cess and other Taxes*:Rs.10.838 Millions (previous year Rs. 10.838 Millions).
c) Disputed Income Tax Rs. Nil (previous year Rs. 4.467 Millions).
d) Claims against the Company not acknowledged as debt: Rs. 6.519 Millions (previous year Rs. 6.519 Millions).
*excludes interest, where applicable, the liability where of is not ascertainable
FIXED ASSETS:
v Plant and equipment
v Furniture and fixtures
v Vehicles
v Office equipment
v Computer equipments
v Computer software
v Copyrights, patents and other operating rights
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. 61.12 |
|
|
1 |
Rs. 94.77 |
|
Euro |
1 |
Rs. 81.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.