MIRA
INFORM REPORT
|
Report Date : |
11.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE INFRATEL LIMITED (w. e. f. 04.01.2008) |
|
|
|
|
Formerly Known
As : |
RELIANCE TELECOM INFRASTRUCTURE LIMITED (w.e.f. 11.10.2006) RELIANCE COMMUNICATIONS RAJASTHAN LIMITED (w.e.f. 18.06.2004) RELIANCE COMMUNICATIONS RAJASTHAN PRIVATE LIMITED |
|
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Registered
Office : |
H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi
Mumbai-400710, Maharashtra |
|
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.04.2001 |
|
|
|
|
Com. Reg. No.: |
11-131598 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.
28330.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2001PLC131598 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR21559G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCR0181Q |
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|
Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
Providing Wireless Communication Services. |
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|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 335700000 |
|
|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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|
|
Comments : |
Subject is a part of ADA Group of companies. It is a well established and reputed company having a good track
record. There appears slight dip in the profitability during the current
year. However, general financial position of the company seems to be strong.
Performance capability appears to be high. Liquidity position of the company
is good. The company gets supports from its group companies. Trade relations
are reported to be fair. Business is active. Payments are reported to be
regular and as per commitment. 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
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
AA [Long Term] |
|
Rating Explanation |
Having high degree of safety regarding timely servicing of financial obligations.
It carry low credit risk. |
|
Date |
March 2012 |
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 Co-Operative
(91-22-39138043)
LOCATIONS
|
Registered Office : |
H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi
Mumbai-400710, Maharashtra, India |
|
Tel. No.: |
91-22-30386286 |
|
Fax No.: |
91-22-30376622 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Anil Dhirajlal Ambani |
|
Designation : |
Director |
|
Address : |
39, Sea Wind, Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra,
India |
|
Date of Birth/Age : |
04.06.1959 |
|
Qualification : |
MBA from the Wharton School of the University of Pennsylvania |
|
Date of Appointment : |
18.06.2007 |
|
PAN No.: |
AHBPS7964F |
|
DIN No.: |
00004878 |
|
|
|
|
Name : |
Mr. Satya Pal Talwar |
|
Designation : |
Director |
|
Address : |
163, Beach Towers, P. Baloo Marg, Prabhadevi, Mumbai – 400025,
Maharashtra, India |
|
Date of Birth/Age : |
14.06.1939 |
|
Qualification : |
Graduate in Arts and Law. CAIIB |
|
Date of Appointment : |
18.06.2007 |
|
DIN No.: |
00059681 |
|
|
|
|
Name : |
Mr. Raj Narain Bhardwaj |
|
Designation : |
Director |
|
Address : |
402, Moksh Apartments, Upper Govind Nagar, Malad (East), Mumbai - 400097,
Maharashtra, India |
|
Date of Birth/Age : |
08.05.1947 |
|
Qualification : |
"B.A.
(Hons.), MA(Economics) from Delhi School of Economics, DIR and PM, Punjab
University, Patiala |
|
Date of Appointment : |
19.09.2009 |
|
DIN No.: |
01571764 |
|
|
|
|
Name : |
Mr. Hasit Navinchandra Shukla |
|
Designation : |
Director |
|
Address : |
403, Sabita
Co-operative Housing Society Limited, 16th Road, Bandra (West),
Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
28.08.1962 |
|
Qualification : |
B.Com, FCS,LLB |
|
Date of Appointment : |
10.02.2012 |
|
DIN No.: |
00004549 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Chandulal Shah |
|
Designation : |
Company Secretary |
|
Address : |
6, Reliance Bill Collection Center, Near Ambedkar Garden, Road No. 18,
Chembur East, Mumbai – 400071, |
|
Date of Birth/Age : |
24.04.1963 |
|
Date of Appointment : |
30.05.2007 |
|
PAN No.: |
AHBPS7964F |
|
|
|
|
Name : |
Mr. Anil Chandulal Shah |
|
Designation : |
Manager |
|
Address : |
6, Reliance Bill Collection Center, Near Ambedkar Garden, Road No. 18,
Chembur East, Mumbai – 400071, |
|
Date of Birth/Age : |
24.04.1963 |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
AHBPS7964F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
NOTE: MAJOR SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
19.79 |
|
Bodies corporate |
80.21 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Wireless Communication Services. |
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Products / Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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Bankers : |
Barclays Bank, London |
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Facilities : |
The above
mentioned Foreign Currency loans ( "Secured Loans" ) are secured ,
during the previous year, by first pari passu charge on the whole of the movable
plant and machinery, including (without limitation) tower assets and optic
fibre cables if any ( whether attached or otherwise), capital work in
progress ( pertaining to movable fixed assets) both present and future
including all the rights , titles, interest, benefits, claims and demands in
respect of all insurance contracts relating thereto of the RCOM Group;
comprising of Reliance Communications Limited, (RCOM) and its subsidiary
Companies namely; Reliance Telecom Limited (RTL) , Reliance Infratel Limited
(RITL), and Reliance Communications Infrastructure Limited (RCIL) in favour of the Security
Trustee for the benefit of Lenders. Repayment
Schedule of Long Term Debts Foreign Currency Loans: (Rs. In
millions)
Others: (Rs. In
millions)
|
|
|
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Banking
Relations : |
-- |
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|
|
|
Financial Institution : |
Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai – 400025, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name 1 : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
912-913, Tulsiani Chambers, 212 Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
PAN No.: |
AAAFC0662N |
|
|
|
|
Name 2 : |
BSR and Company Chartered Accountants |
|
PAN No.: |
AAAFB9852F |
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|
|
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Holding Company : |
Reliance Communications Infrastructure Limited, India CIN No.: U64203MH1997PLC166329 |
|
|
|
|
Ultimate Holding Company: |
Reliance Communications Limited, India CIN No.: L45309MH2004PLC147531 |
|
|
|
|
Subsidiary : |
·
Netizen Rajasthan Limited , India CIN No.: U45400MH2000PLC128387 ·
Reliance Global IDC Limited (Merged with the
company with effect from 01st January 2011) CIN No.: U72900MH2000PLC128386 |
|
|
|
|
Fellow Subsidiary : |
·
Reliance Webstores Limited, India CIN No.: U72900MH2000PLC128101 ·
Reliance Telecom Limited, India CIN No.: U32100MH1994PLC162841 ·
Reliance Infocomm Infrastructure Private Limited,
India CIN No.: U45300MH1993PTC173775 ·
Reliance Global BV, Netherlands ·
Reliance Telecom Infrastructure (Cyprus) Holding
Limited, Cyprus |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000000 |
Equity Shares |
Rs.10/- Each |
Rs.75000.000 Millions |
|
500000000 |
Preference Shares |
Rs.10/- Each |
Rs.5000.000 Millions |
|
|
Total |
|
Rs.80000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2793141868 |
Equity Shares |
Rs.10/- Each |
Rs.27930.000
Millions |
|
40000000 |
Preference Shares |
Rs.10/- Each |
Rs.400.000
Millions |
|
|
Total |
|
Rs.28330.000 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 |
28330.000 |
28330.000 |
14115.700 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
55590.000 |
44130.000 |
37526.500 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
83920.000 |
72460.0000 |
51642.200 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
26290.000 |
30470.000 |
0.000 |
|
|
2] Unsecured Loans |
71610.000 |
78870.000 |
112501.200 |
|
|
TOTAL BORROWING |
97900.000 |
109340.000 |
112501.200 |
|
|
DEFERRED TAX LIABILITIES |
10180.000 |
3670.000 |
731.900 |
|
|
|
|
|
|
|
|
TOTAL |
192000.000 |
185470.000 |
164875.300 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
126030.000 |
109890.000 |
131145.000 |
|
|
Capital work-in-progress |
7480.000 |
24100.000 |
23854.100 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
10000.000 |
1.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
Foreign currency monetary item translation difference asset account |
1250.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
520.000
|
280.000 |
356.300
|
|
|
Sundry Debtors |
1030.000
|
4930.000 |
1686.800
|
|
|
Cash & Bank Balances |
40.000
|
780.000 |
29.000
|
|
|
Other Current Assets |
44990.000
|
33360.000 |
0.600
|
|
|
Loans & Advances |
41870.000
|
21840.000 |
16151.100
|
|
Total
Current Assets |
88450.000
|
61190.000 |
18223.800 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9740.000
|
4320.000 |
25428.300 |
|
|
Other Current Liabilities |
21470.000
|
15390.000 |
3140.100
|
|
|
Provisions |
0.000
|
0.000 |
0.200
|
|
Total
Current Liabilities |
31210.000
|
19710.000 |
28568.600 |
|
|
Net Current Assets |
57240.000
|
41480.000 |
(10344.800) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
20220.000 |
|
|
|
|
|
|
|
|
TOTAL |
192000.000 |
185470.000 |
164875.300 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
73170.000 |
66580.000 |
62765.200 |
|
|
|
Other Income |
2700.000 |
310.000 |
2.200 |
|
|
|
TOTAL (A) |
75870.000 |
66890.000 |
62767.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
37490.000 |
|
32237.100 |
|
|
|
Employee benefit expense |
670.000 |
870.000 |
|
|
|
|
Other expenses |
870.000 |
400.000 |
|
|
|
|
TOTAL (B) |
39030.000 |
22300.000 |
32237.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) |
36840.000 |
44590.000 |
30530.300 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
12280.000 |
10920.000 |
3064.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
24560.000 |
33670.000 |
27465.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17750.000 |
22470.000 |
17678.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
6810.000 |
11200.000 |
9787.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
2940.000 |
731.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
6810.000 |
8260.000 |
9055.800 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
17380.000 |
29120.000 |
20063.200 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
20000.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
24190.000 |
17380.000 |
29119.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
50.000 |
40.000 |
585.800 |
|
|
TOTAL IMPORTS |
50.000 |
40.000 |
585.800 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2.44 |
2.96 |
3.24 |
|
%2011-Feb-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
8.98
|
12.35 |
14.43 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.31
|
16.82 |
15.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.18
|
6.55 |
6.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.15 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.17
|
1.51 |
2.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.83
|
3.10 |
0.64 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Due to Micro and Small Enterprises |
330.000 |
|
25428.300 |
|
Others |
9410.000 |
3970.000 |
|
|
Total |
9740.000
|
4320.000 |
25428.300 |
%2011-Feb-2013_files/image002.gif){kind=small}
|
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 |
No |
|
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 |
Yes |
NOTE
The registered office of the company has been shifted from E-Block, D
Ambani Knod Cityopp Koparkhairane Railway Station, Thane Belapur Road, Navi
Mumbai-400709, Maharashtra, India to the present address w.e.f 11.10.2006.
OPERATIONS
The Company, in
the fifth year of full operations, has registered an increase of 13% in total
income to Rs.75870.000 millions against Rs.66890.000 millions in the previous
year. The profit after tax stands at Rs.6810.000 millions against Rs.8260.000
millions during the previous financial year.
The Company is a
leading passive telecommunication infrastructure provider in India, based on
the number of telecommunication towers that it owns. The Company builds, owns
and operates telecommunication towers and related assets at designated sites
and provides these passive telecommunication infrastructure assets on a shared
basis to wireless service providers and other communications service providers
under long term contracts. These customers use the space on the
telecommunication towers to install their active communication related
equipment to operate their wireless communications networks.
The demand of the
Indian market coupled with the emergence of new technologies will be the key
driver for the Company. Telecom Industry structure is impacted due to
cancellation of 122 licences by the Hon'ble Supreme Court. Clarity on
continuation of the said licences will emerge in due course after Government
concludes the spectrum auctions and other matters related to such licences.
Their portfolio of towers is one of the
youngest portfolio
with an average age of 5 years. All existing towers are designed to handle upto
4 tenants with minor utility upgrade without any further capital expenditure
and upto 7 tenants with relatively minimal incremental capex.
The Company has
entered into various contracts in the areas of passive telecommunication
infrastructure service businesses. While benefits from such contracts will
accrue in the future years, their progress is periodically reviewed.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Long term
borrowing |
|
|
|
Loan from Holding Company |
6580.000 |
6580.000 |
|
Loan from Ultimate Holding Company |
27190.000 |
27190.000 |
|
Short term
borrowing |
|
|
|
Loan from Holding Company |
27260.000 |
32480.000 |
|
Loan from Fellow Subsidiary |
10000.000 |
10000.000 |
|
Foreign Currency Loans from Banks (Buyers Credit) |
580.000 |
2620.000 |
|
Total |
71610.000 |
78870.000
|
The amount of Rs. 27190.000
millions (Previous year Rs. 27190.000 millions) pursuant to Scheme of
Arrangement from Ultimate Holding Company, is payable by 31 March, 2018 at an
interest rate not less than 1% over and above the weighted average Cost of Debt
of the Ultimate Holding Company
During the
previous year, pursuant to a tripartite agreement, the Company acquired
unsecured loan payable to Reliance Telecom Limited (RTL), a fellow subsidiary
Company, by way of transfer of liabilities from Reliance Global IDC Limited
(RGIDCL), a wholly owned subsidiary of the Company.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U72900MH2001PLC131598 |
|
Name of the company |
RELIANCE INFRATEL LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi
Mumbai-400 710, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of charge holder |
Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang
Budhkar Marg, Worli, Mumbai – 400025, Maharashtra, India |
|
Nature of instrument creating charge |
Deed of Hypothecation dated 22nd January, 2013 executed by Reliance
Communications Limited, Reliance
Communications Infrastructure Limited, Reliance Infratel Limited and Reliance
Telecom Limited, the Chargors in favour of Axis Trustee Services Limited
acting as the Security Trustee for
facility of Rs. 3000.000 millions sanctioned by IDBI Bank . |
|
Date of instrument Creating the charge |
22.01.2013 |
|
Amount secured by the charge |
Rs. 3000.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest 13% p.a Terms of Repayment 6 Months (More particularly described in the sanction letter issued) Margin Not Applicable Extent and Operation of the charge Second pari-passu charge on Chargers (Reliance Communications Limited;
Reliance Telecom limited; Reliance Communications Infrastructure Limited;
Reliance Infratel Limited ) assets |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
All and singular of the whole of the Chargors present and future
moveable plant and machinery including tower assets and optic fibre cables
and capital work in progress |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
Disputed Liabilities in tower construction pending adjudication |
80.000 |
|
Disputed Liability for Entry Tax and VAT / CST* |
250.000 |
|
Bank Guarantee |
60.000 |
* The Company has deposited
Rs.100.000 millions under protest with the Entry Tax authorities and Rs. 0.400
million with VAT / CST authority against the demand. Deposit amount is included in Loans and
Advances.
FIXED ASSETS
·
Land
·
Plant and Equipment
·
Vehicles
·
Stores and Spares
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 records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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.