1. Summary Information
|
|
|
Country |
India |
|
Company Name |
INDIAN EXPRESS NEWSPAPERS (MUMBAI) LIMITED |
Principal Name 1 |
Mrs. Vaidehi Chintaman Thakar |
|
Status |
Good |
Principal Name 2 |
Mr. Viveck Ramnath Goenka |
|
|
|
Registration # |
11-011302 |
|
Street Address |
Express Towers, Nariman Point, Mumbai - 400021, Maharashtra, India |
||
|
Established Date |
25.02.1959 |
SIC Code |
-- |
|
Telephone# |
91-22-22022627/ 67440531 |
Business Style 1 |
Publisher |
|
Fax # |
91-22-43414110 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Daily News Papers |
|
|
# of employees |
200 (Approximately) |
Product Name 2 |
Offer Magazines |
|
Paid up capital |
Rs.42,347,000/- |
Product Name 3 |
-- |
|
Shareholders |
Venture capital - 40.33% Bodies corporate - 54.32% Directors or relatives of Directors - 2.82% Other top fifty shareholders - 2.53% |
Banking |
State
Bank of India |
|
Public Limited Corp. |
NO |
Business Period |
54 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(52) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates |
India
|
The Indian Express Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
173,687,000 |
Current Liabilities |
1,051,008,000 |
|
Inventories |
0,000 |
Long-term Liabilities |
610,446,000
|
|
Fixed Assets |
3,604,104,000 |
Other Liabilities |
130,197,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
1,791,651,000 |
|
Invest& other Assets |
36,237,000 |
Retained Earnings |
1,980,030,000 |
|
|
|
Net Worth |
2,022,377,000 |
|
Total Assets |
3,814,028,000 |
Total Liab. & Equity |
3,814,028,000 |
|
Total Assets (Previous Year) |
4,079,210,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
927,102,000 |
Net Profit |
375,088,000 |
|
Sales(Previous yr) |
860,209,000 |
Net Profit(Prev.yr) |
356,527,000 |
|
Report Date : |
02.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
INDIAN EXPRESS NEWSPAPERS (MUMBAI) LIMITED |
|
|
|
|
Registered Office
: |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.02.1959 |
|
|
|
|
Com. Reg. No.: |
11-011302 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 42.347 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22120MH1959PLC011302 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELI03980E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR0899N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Publisher of Daily News Papers and
Offer Magazines |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8090000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is well established and reputed company having fine track
record. Financial position of the company is good. Trade relations are reported
as fair. Business is active. Payments are reported to be regular and as per
commitments. The company can considered for normal business dealings at usual trade
terms and conditions. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated number
of jobs created during the second quarter of the current financial year. 50000
estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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. Mahadev Jogadhankar |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-67440531 |
LOCATIONS
|
Registered Office : |
Express Towers, Nariman Point, Mumbai-400021, Maharashtra, India |
|
Tel. No.: |
91-22-22022627/ 67440531/ 43414100/ 22845707/ 22885829/
22886412/ 22822187/ 56301020/ 43414110/ 6740000/ 01/ 02/ 03 |
|
Fax No.: |
91-22-43414110/ 22022139/ 22884105 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Located at: |
|
|
|
|
Branches : |
Located
at: ·
Ahmedabad Bangalore Chandigarh Chennai Jammu Kolkata Lucknow Pune |
DIRECTORS
As on 24.09.2013
|
Name : |
Mrs. Vaidehi Chintaman Thakar |
|
Designation : |
Director |
|
Address : |
Flat 8E, Giriraj, 15, Altamount Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
19.09.1962 |
|
Date of Appointment : |
30.03.2001 |
|
DIN No.: |
00015587 |
|
|
|
|
Name : |
Mr. Viveck Ramnath Goenka |
|
Designation : |
Director Cum Chairman |
|
Address : |
|
|
Date of Birth/Age : |
03.12.1957 |
|
Date of Appointment : |
01.10.1985 |
|
DIN No.: |
00015640 |
|
|
|
|
Name : |
Mr. Sudarshan Vishwanath Bajoria |
|
Designation : |
Director |
|
Address : |
Flat No. B/ 702, 7th Floor, |
|
Date of Birth/Age : |
18.01.1974 |
|
Date of Appointment : |
30.03.2009 |
|
DIN No.: |
01853708 |
|
|
|
|
Name : |
Ms. Vishakha Vivek Mulye |
|
Designation : |
Director |
|
Address : |
A-303, Atria, Akruti Niharika Complex, Professor N.S. Phadk Marg, Andheri
(East), Mumbai – 400069, Maharashtra, India |
|
Date of Birth/Age : |
04.02.1969 |
|
Date of Appointment : |
30.06.2010 |
|
DIN No.: |
00203578 |
|
|
|
|
Name : |
Mr. Omprakash Ramkrishna Srivastava |
|
Designation : |
Director |
|
Address : |
Flat No. 1001-B, Jagat Vidya Chembers, Kala Nagar, Bandra (West),
Mumbai – 400051, |
|
Date of Birth/Age : |
19.06.1955 |
|
Date of Appointment : |
19.09.2011 |
|
DIN No.: |
01173036 |
|
|
|
|
Name : |
Mr. Harcharan Singh |
|
Designation : |
Director |
|
Address : |
222, Nav Sansad Vihar Complex, Plot No.4, Sector No.22, |
|
Date of Birth/Age : |
15.11.1944 |
|
Date of Appointment : |
19.06.2013 |
|
DIN No. : |
02107832 |
KEY EXECUTIVES
|
Name : |
Mr. Mahadev Jogadhankar |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Indian Express Commercial Ventures and Projects Limited, India |
|
193297 |
|
Shekhar Gupta Jointly with Neelam Jolly |
|
10738 |
|
Vaidehi Thakar – Nominee of Indian Express Commercial Ventures and
Projects Limited |
|
1 |
|
Viveck Goenka |
|
11932 |
|
Poorvi Kamani - – Nominee of Indian Express Commercial Ventures and Projects
Limited |
|
1 |
|
IDBI Trusteeship Services Limited, India (India Advantage Fund III) |
|
170800 |
|
I-Ven Residential Properties (Mumbai) Limited, India ICICI Venture Funds Management Company Limited, India |
|
36699 |
|
Total |
|
423468 |
As on 24.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Venture capital |
40.33 |
|
Bodies corporate |
54.32 |
|
Directors or relatives of Directors |
2.82 |
|
Other top fifty shareholders |
2.53 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Publisher of Daily News Papers and
Offer Magazines |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
200 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· State Bank of India, Commercial Branch, N. G. N. Vaidya Marg, Mumbai-400023, Maharashtra, India Tel. No.: 91-22-22662205 Oriental Bank of Commerce,
A-30/33, Rajiv Chowk , New Delhi-110001, India United Bank Limited, 16,
Hemanta Basu Sarain, Kolkata – 70001, West Bengal, India Sangali Urban Co-Operative Bank
Limited, 37/2/C, Mooli Mansion, Pune, Maharashtra, India Punjab and Sind Bank, J K Somani Building, British Hotel
Lane,, Fort, Mumbai - 400023, Maharashtra, India Vijaya Bank, IFB, 2nd Floor, New Excelsior Building, Wallace
Street, Fort, Mumbai - 400001, Maharashtra, India Indian Overseas Bank, New Marine Lines Branch, Maker
Bhavan No. 2, Mumbai - 400020, Maharashtra, India State Bank of India, C-6, G Block, Bandra Kurla Complex,
Bandra (East), Mumbai - 400051, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V Sankar Aiyar and Company Chartered Accountant |
|
Address : |
V. Shanker Aiyer and Company, 2-C, Court Chambers, 35, New Marine
Lines, Mumbai-400020, |
|
Tel. No.: |
91-22-22004465/ 22067440 |
|
Fax No.: |
91-22-22000649 |
|
E-Mail : |
|
|
Website : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFV0781D |
|
|
|
|
Associates: |
The Indian Express Limited |
|
|
|
|
Related Party: |
· Indian Express Commericial Ventures and Projects Limited India Advantage Fund III I-Ven Residential Properties (Mumbai) Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
510000 |
Equity Shares |
Rs.100/- each |
Rs. 51.000 Millions |
|
250000 |
Preference Shares |
Rs.100/- each |
Rs. 25.000 Millions |
|
|
|
|
|
|
|
TOTAL |
|
Rs. 76.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
423468 |
Equity Shares |
Rs.100/-
each |
Rs. 42.347
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
42.347 |
|
(b) Reserves & Surplus |
|
|
1980.030 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
2022.377 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
610.446 |
|
(b) Deferred tax liabilities (Net) |
|
|
15.955 |
|
(c) Other long term liabilities |
|
|
677.984 |
|
(d) long-term provisions |
|
|
0.390 |
|
Total Non-current Liabilities (3) |
|
|
1304.775 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
0.000 |
|
(b) Trade payables |
|
|
0.000 |
|
(c) Other current
liabilities |
|
|
373.024 |
|
(d) Short-term provisions |
|
|
113.852 |
|
Total Current Liabilities (4) |
|
|
486.876 |
|
|
|
|
|
|
TOTAL |
|
|
3814.028 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
3604.104 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii) Capital
work-in-progress |
|
|
36.237 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
47.396 |
|
(e) Other Non-current assets |
|
|
0.000 |
|
Total Non-Current Assets |
|
|
3687.737 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
62.140 |
|
(b) Inventories |
|
|
0.000 |
|
(c) Trade receivables |
|
|
23.096 |
|
(d) Cash and cash
equivalents |
|
|
3.725 |
|
(e) Short-term loans and
advances |
|
|
1.452 |
|
(f) Other current assets |
|
|
35.878 |
|
Total Current Assets |
|
|
126.291 |
|
|
|
|
|
|
TOTAL |
|
|
3814.028 |
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
43.758 |
44.828 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
2211.541 |
2174.320 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
2255.299 |
2219.148 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
851.461 |
1146.302 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
851.461 |
1146.302 |
|
|
DEFERRED TAX LIABILITIES |
|
10.374 |
6.763 |
|
|
|
|
|
|
|
|
TOTAL |
|
3117.134 |
3372.213 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
3654.514 |
3605.443 |
|
|
Capital work-in-progress |
|
22.417 |
112.500 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
174.710 |
176.024 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000
|
0.000
|
|
|
Sundry Debtors |
|
32.623
|
38.101
|
|
|
Cash & Bank Balances |
|
38.305
|
3.906
|
|
|
Other Current Assets |
|
61.735
|
0.000
|
|
|
Loans & Advances |
|
94.906
|
104.877
|
|
Total
Current Assets |
|
227.569
|
146.884 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
14.365
|
38.399
|
|
|
Other Current Liabilities |
|
887.057
|
630.108
|
|
|
Provisions |
|
60.654
|
0.131
|
|
Total
Current Liabilities |
|
962.076
|
668.638 |
|
|
Net Current Assets |
|
(734.507)
|
(521.754)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3117.134 |
3372.213 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
927.102 |
860.209 |
488.019 |
|
|
|
Other Income |
16.021 |
24.598 |
467.230 |
|
|
|
TOTAL (A) |
943.123 |
884.807 |
955.249 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefits expense |
8.466 |
6.809 |
0.000 |
|
|
|
Payments to and provision made for employees |
-- |
0.000 |
6.237 |
|
|
|
Other Operating Expenses |
-- |
261.929 |
266.775 |
|
|
|
Other expense |
244.991 |
-- |
-- |
|
|
|
TOTAL (B) |
253.457 |
268.738 |
273.012 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
689.666 |
616.069 |
682.237 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
119.001 |
132.179 |
124.379 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
570.665 |
483.890 |
557.858 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.259 |
10.258 |
7.094 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
553.406 |
473.632 |
550.764 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
178.318 |
117.105 |
142.145 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
375.088 |
356.527 |
408.619 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
788.010 |
526.691 |
119.313 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.000 |
58.485 |
0.000 |
|
|
|
Interim Dividend |
285.700 |
0.000 |
0.000 |
|
|
|
Transfer to General Reserve |
37.509 |
35.653 |
1.241 |
|
|
|
Transfer to Capital Redemption Reserves |
1.411 |
1.070 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
838.478 |
788.010 |
526.691 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
0.000 |
11.797 |
5.980 |
|
|
TOTAL IMPORTS |
0.000 |
11.797 |
5.980 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
875.00 |
805.00 |
905.00 |
|
|
|
|
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
39.77
|
40.29
|
42.78
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
59.69
|
55.06
|
112.86
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.65
|
12.20
|
14.68
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.21
|
0.25
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.30
|
0.38
|
0.52
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.26
|
0.24
|
0.22
|
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 |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10191854 |
25/11/2009 |
290,000,000.00 |
PUNJAB AND SIND BANK |
FORT BRANCH, J K SOMANI BUILDING, BRITISH HOTEL LANE, FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
A74961368 |
|
2 |
10129499 |
07/05/2009 * |
400,000,000.00 |
PUNJAB AND SIND BANK |
J.K. SOMANI BLDG., BRITISH HOTEL LANE, FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
A63062566 |
|
3 |
10021027 |
03/06/2008 * |
350,000,000.00 |
STATE BANK OF MYSORE |
DALAL STREET BRANCH, FORT, MUMBAI - |
A42207449 |
|
4 |
10005741 |
08/03/2013 * |
1,835,000,000.00 |
STATE BANK OF INDIA |
C-6, G BLOCK, BANDRA KURLA COMPLEX,BANDRA EAST, MUMBAI - 400051, MAHARASHTRA, INDIA |
B71493621 |
|
5 |
90241606 |
08/03/2013 * |
600,000,000.00 |
PUNJAB AND SIND BANK |
J.K. SOMANI BLDG., BRITISH HOTEL LANE, FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
B71988505 |
|
6 |
90237616 |
11/12/2009 * |
400,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, N.G.N. VAIDYA MARG, MUMBAI - 400023, |
A77894608 |
|
7 |
90244360 |
11/12/2009 * |
400,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, N.G.N. VAIDYA MARG, MUMBAI - 400023, |
A77892875 |
|
8 |
90236792 |
27/01/1988 |
36,300,000.00 |
COLLECTORS OF CUSTUMER |
NEW CUSTOM HOUSE, BALLARD ESTATE, MUMBAI - 400038, MAHARASHTRA, INDIA |
- |
|
9 |
90236536 |
30/03/1971 |
1,382,498.00 |
PUNJAB NATIONAL BANK |
FIRST LANE BEACH, MADRASH, MAHARASHTRA - 600001, INDIA |
- |
|
10 |
90236526 |
03/08/1966 |
7,000,000.00 |
THE PUNJAB NATIONAL BANK |
FORT, MUMBAI, MAHARASHTRA, INDIA |
- |
* Date of charge modification
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Lodging No.: NMSL/342/2013 Filing Date: 14.02.2013
Reg. No.: NMS/270/2013 Reg.
Date:- 16/02/2013 |
|
Petitioner:- Express Publications Madurai Limited. -
Respondent: Indian Express Newspapers Mumbai Petn.Adv: Dipak Chitnis-Chip Arikar and Company District: Mumbai |
|
Bench: Single Status: Pre-Admission Category:- Notice
Of Motion. Last Date:- 27/02/2013
Stage:- Last Coram:- Registrar(Os)/Prothonotary and Sr. Master |
|
Act: Code
Of Civil Procedure 1908 |
THE YEAR IN
RETROSPECT
Commercial office space market continued to be sluggish during FY 2013 across Mumbai and especially in the Nariman Point mirco-market. Vacancy levels continued to be in the range of 10% to 25% across micro markets in Mumbai.
Leasing activity in Nariman Point was confined to only 2-3 buildings, and Express Towers got major share out of the new leases happening in the micro-market. Express Towers also continue to consolidate its position of the most sought after buildingin the micro-market by steadily commanding vis a vis other "A' grade buildings in the vicinity.
In these challenging times the company was able to lease out about 106,000 sq ft including renewals tc multiple clients achieving an average rental of Rs. 252 psft/pm (excluding CAM charges) (against an average rental of Rs. 200 - Rs. 225 psft/pm for A Grade buildings in Nariman Point). Express Towers continues its position as the prime property in the CBD Mumbai due to its professional management and the Repositioning & Re-branding exercise which has been successfully completed. It is now considered as a brand representing an "Elite Neighbourhood" in the Nariman point. Current vacancy is in the building is about 17%.
FIXED ASSETS
· Land
Building
Plant
and Equipment
Furniture
and Fixtures
Office
Equipment
Others
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.62.39 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
52 |
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.