MIRA
INFORM REPORT
|
Report Date : |
15.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE COMMUNICATIONS INFRASTRUCTURE LIMITED (w.e.f. 07.03.2002) |
|
|
|
|
Formerly Known
As : |
SUKHKATRA FINTRADE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi
Mumbai – 400710, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
17.07.1997 |
|
|
|
|
Com. Reg. No.: |
11-166329 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2010.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U64203MH1997PLC166329 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELR10472A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS2157H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Internet Services,
Telecom Terminals and accessories, Marketing and Commission, Home Business, O
and M Services and Others. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
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 121220000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having fine track. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered normal for 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.
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 |
CARE |
|
Rating |
A1+ (Short Term Rating) |
|
Rating Explanation |
Having very strong degree of safety
regarding timely payment of financial obligation It carry lowest credit risk. |
|
Date |
29.06.2012 |
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-COOPERATIVE.
Contact No.: 91-11-30463850
LOCATIONS
|
Registered Office : |
H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi
Mumbai – 400710, Maharashtra, India |
|
Tel. No.: |
91-22-30386286/ 22847006/ 30385010 |
|
Fax No.: |
91-22-30376622 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
“Brindavan”, 2nd Floor, Shree Ram Mils Premises, Ganpatrao
Kadam Marg, Worli, Mumbai – 400013, |
|
|
|
|
Branches : |
Located at :- ·
Mumbai ·
Bangalore |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Gautam Bhailal Doshi |
|
Designation : |
Director |
|
Address : |
B-131, Grand Paradi, August Kranti Marg, Mumbai – 400036, |
|
Date of Birth/Age : |
23.12.1952 |
|
Date of Appointment : |
26.06.2005 |
|
DIN No.: |
00004612 |
|
|
|
|
Name : |
Mr. Hasit Navinchandra Shukla |
|
Designation : |
Director |
|
Address : |
403, Sabita Co-operative Housing Society Limited, Plot No. 596, Cts
F/38, |
|
Date of Birth/Age : |
28.08.1962 |
|
Date of Appointment : |
13.08.2010 |
|
Voter ID No.: |
ROL3044492 |
|
DIN No.: |
00004549 |
|
|
|
|
Name : |
Mr. Suresh Madihally Rangachar |
|
Designation : |
Director |
|
Address : |
37, Gulistan Apartment, 9, Cuffe Parade, Colaba, Mumbai – 400005, |
|
Date of Birth/Age : |
14.05.1964 |
|
Date of Appointment : |
13.08.2010 |
|
DIN No.: |
00020887 |
KEY EXECUTIVES
|
Name : |
Mr. Hitesh Lalitbhai Marthak |
|
Designation : |
Dy. Company Secretary |
|
Address : |
E-301, Lily, Jalvayu Vihar Phase 1, NR Shilp Chowk, Navi Mumbai –
410210, Maharashtra, India |
|
Date of Birth/Age : |
25.10.1975 |
|
Date of Appointment : |
01.08.2010 |
|
PAN No.: |
ACDPM9248D |
|
|
|
|
Name : |
Mr. Hitesh Lalitbhai Marthak |
|
Designation : |
Manager |
|
Address : |
E-301, Lily, Jalvayu Vihar Phase 1, NR Shilp Chowk, Navi Mumbai –
410210, Maharashtra, India |
|
Date of Birth/Age : |
25.10.1975 |
|
Date of Appointment : |
26.06.2010 |
|
PAN No.: |
ACDPM9248D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
No. of Equity
Shares |
|
|
|
|
Prakash Shenoy Jointly with Reliance Communications Limited, India |
1 |
|
Anil C Shah Jointly with Reliance Communications Limited, India |
1 |
|
Gaurang Shah Jointly with Reliance Communications Limited, India |
1 |
|
Hitesh Marthak Jointly with Reliance Communications Limited, India |
1 |
|
Hasit Shukla Jointly with Reliance Communications Limited, India |
1 |
|
Hitesh Chawda Jointly with Reliance Communications Limited, India |
1 |
|
Reliance Communication Limited, India |
2009999994 |
|
|
|
|
Total |
2010000000 |
|
|
|
|
Names of Shareholders |
No. of
Preference Shares |
|
|
|
|
Reliance Communication Limited, India |
20000 |
|
|
|
|
Total |
20000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Internet
Services, Telecom Terminals and accessories, Marketing and Commission, Home Business,
O and M Services and Others. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
300 (Approximately) |
|
|
|
|
Bankers : |
· Axis Bank Limited Central Office, Maker, Towers – F, 13th Floor, Cuffe
Parade, Colaba, Mumbai – 400 005, Maharashtra, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution: |
· Axis Trustee Services Limited Axis House, 2nd
Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai -
400025, Maharashtra, India · Axis Trustee Services Limited Maker Towers
'F', 13th Floor, Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
709, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400 021, |
|
PAN No.: |
AAAFC0662N |
|
|
|
|
Ultimate Holding
Company : |
Reliance Innoventures Private Limited |
|
|
|
|
Holding Company
: |
·
Reliance Communications Limited CIN
No.: L45309MH2004PLC147531 ·
Reliance Infratel Limited CIN
No.: U72900MH2001PLC131598 |
|
|
|
|
Subsidiary
Companies : |
·
Reliance Communications Investments and Leasing
Limited CIN
No.: U64201MH2001PLC131600 ·
Matrix Innovations Limited (Upto 31/03/2010) CIN
No.: U99999MH2000PLC125991 ·
Netizen Rajasthan Limited ·
Reliance Global IDC Limited (Merged with Reliance
Infratel Limited wef.01/01/2011) |
|
|
|
|
Fellow Subsidiaries : |
·
Global Innovative Solutions Private Limited (
Upto 31.03.2010) ·
Reliance Wimax Limited ·
Reliance Webstore Limited CIN
No.: U72900MH2000PLC128101 ·
Reliance Communications International Inc. ·
Reliance Communications Inc. ·
Reliance Communications Hongkong Limited ·
Reliance Globalcom Limited, Bermuda and its
Subsidiaries ·
Reliance Telecom Limited CIN
No.: U32100MH1994PLC162841 ·
Gateway Net Trading Pte. Limited Singapore ·
Reliance Big TV Limited CIN
No.: U45203MH2005PLC153294 ·
Reliance Tech Services Private Limited CIN
No.: U72900MH2007PTC172690 ·
Reliance Infocomm Infrastructure Private
Limited CIN
No. : U45300MH1993PTC173775 ·
Reliance Globalcom B.V. Nederland |
|
|
|
|
Joint Venture : |
Alcatel Lucent Managed Solutions India Private Limited CIN No.:
U64203MH2008PTC182748 |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2400000000 |
Equity Shares |
Rs.1/- each |
Rs.2400.000 Millions |
|
10000000 |
8% Cumulative Preference Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.2500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2010000000 |
Equity Shares |
Re.1/- each |
Rs.2010.000
Millions |
|
20000 |
8% Cumulative Preference Shares |
Rs.10/- each |
Rs.0.200
Million |
|
|
|
|
|
|
|
Total |
|
Rs.2010.200 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2010.200 |
2010.200 |
2010.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
28294.100 |
27006.900 |
27482.300 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
30304.300 |
29017.100 |
29492.500 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
27746.700 |
22640.000 |
21263.000 |
|
|
TOTAL BORROWING |
27746.700 |
22640.000 |
21263.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
58051.000 |
51657.100 |
50755.500 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9352.200 |
10171.200 |
10350.200 |
|
|
Capital work-in-progress |
16800.500 |
26651.200 |
8939.600 |
|
|
|
|
|
|
|
|
INVESTMENT |
3261.700 |
3257.300 |
3253.500 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1085.700
|
1121.100
|
1418.900
|
|
|
Sundry Debtors |
10733.100
|
8552.400
|
14076.400
|
|
|
Cash & Bank Balances |
6433.400
|
1476.400
|
2254.400
|
|
|
Other Current Assets |
3693.500
|
2168.100
|
0.900
|
|
|
Loans & Advances |
47663.200
|
37591.100
|
49103.800
|
|
Total
Current Assets |
69608.900
|
50909.100 |
66854.400 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
31923.200
|
25967.000 |
22782.300
|
|
|
Other Current Liabilities |
7504.600
|
10534.300 |
14590.100
|
|
|
Provisions |
1544.500
|
2830.400 |
1269.800
|
|
Total
Current Liabilities |
40972.300
|
39331.700 |
38642.200 |
|
|
Net Current Assets |
28636.600
|
11577.400 |
28212.200
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
58051.000 |
51657.100 |
50755.500 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
42425.900 |
44170.700 |
40952.500 |
|
|
|
Other Income |
964.700 |
18.200 |
7.800 |
|
|
|
TOTAL (A) |
43390.600 |
44188.900 |
40960.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing service costs |
26276.800 |
12166.600 |
|
|
|
|
Employee related expenses |
2030.900 |
1205.800 |
|
|
|
|
Administrative selling other expenses |
12570.600 |
26853.400 |
|
|
|
|
TOTAL (B) |
40878.300 |
40225.800 |
10012.500 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2512.300 |
3963.100 |
6798.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
(3684.100) |
(2325.100) |
1655.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6196.400 |
6288.200 |
5142.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5483.700 |
4630.800 |
2476.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
712.700 |
1657.400 |
2665.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(1280.800) |
1562.500 |
4.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
1993.500 |
94.900 |
2661.800 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2748.300 |
2653.400 |
(8.400) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4741.800 |
2748.300 |
2653.400 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
153.900 |
3219.700 |
6936.100 |
|
|
TOTAL EARNINGS |
153.900 |
3219.700 |
6936.100 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
1953.300 |
1470.600 |
6748.700 |
|
|
|
Traded Goods |
262.400 |
246.600 |
482.500 |
|
|
TOTAL IMPORTS |
2215.700 |
1717.200 |
7231.200 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.99 |
0.05 |
1.33 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.59
|
0.21 |
6.50
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.68
|
3.75 |
6.51
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.90
|
2.71 |
3.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.06 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.26
|
2.14 |
2.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.69
|
1.29 |
1.73 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors |
|
|
|
|
Micro Small and
Medium Enterprises |
512.700 |
189.800 |
151.800 |
|
Others |
31410.500 |
25777.200 |
22630.500 |
|
|
|
|
|
|
Total |
31923.200
|
25967.000 |
22782.300
|
|
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 |
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 |
No |
|
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 |
Yes |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOANS
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Foreign currency loans |
4937.600 |
5770.100 |
|
Loans subsidiaries |
6500.000 |
0.000 |
|
Others Debts |
16309.100 |
16869.900 |
|
|
|
|
|
Total |
27746.700 |
22640.000 |
|
NOTES: Buyer’s Credit Includes: Short
Term Loans: From Holding Company: Rs.15309.100 Millions, and From Body Corporate:
Rs.1000.000 Millions |
||
OPERATIONS:
The Company
provides Internet Data Centre (IDC) service facilities to house own and
client's computer systems and associated components, such as telecommunications
and secured storage systems to the user companies from our IDCs located in
Mumbai, Bangalore, Hyderabad and Chennai.
During the year,
the Company expanded the capacity of Hyderabad data center. With this, the IDC
capacity has gone up more than 450,000 sq ft, making the Company the leader in
this segment with an estimated market share of over 60 per cent.
The Company
maintained its position as the premium integrated solutions provider for
Corporates in the Broadband segment. The Company's Enterprise Broadband
business maintained its leadership in Centrex, Virtual Private Network and
internet Data Centre products and One Office Duo (OOD) voice product.
The Company's
Enterprise Broadband segment continued to maintain its growth path and gained
significantly during the year even in the midst of aggressive competition in
data and voice but particularly the internet bandwidth segment. The Company's
current portfolio of more than 38 products, Enterprise Broadband business has
not only positioned a larger number of products with top corporates but also
increased its share of wallet.
During the year,
the Company has launched new products like Virtual NoC for MPLS VPN,
SMS-on-Net, Web Conferencing and Hosted Mail etc.
Broadband's
business IT Systems are ISO 27001:2005 Certified (an Information Security
Management System Standard).
The Company has,
during the year, entered into various contracts in the area of internet data
business. While benefits from such contracts will accrue in the future years,
the Board of Directors periodically reviews their progress.
SCHEME OF
ARRANGEMENT
In terms of the
Scheme of Arrangement between the Company and Matrix Innovations Limited (MIL),
a wholly owned subsidiary; and their respective shareholders and creditors, MIL
was merged into the Company. The said Scheme was sanctioned by the Hon'ble High
Court of Judicature at Bombay vide order dated 6th May 2011 and was made
effective from 25th May, 2011. The appointed date was 1st April 2010.
In terms of the
Scheme of Arrangement between the Company and Broadband Pacenet India Private
Limited ("Pacenet"), the retail broadband and DTH (Direct to Home)
Hardware business, as defined in the Scheme, of the Company shall be
transferred and vested into "Pacenet", with effect from the Appointed
Date 1st April 2010. The said Scheme was sanctioned by the Hon'ble High Court
of Judicature at Bombay vide order dated 25th February 2011. The Scheme is
conditional and subject to requisite approval of the Central Government and
other Regulatory authorities which are still awaited.
CONTINGENT
LIABILITIES (AS ON 31.03.2011):
a) Estimated
amount of contracts remaining to be executed on capital accounts and not
provided for – Rs.433.100 Millions
b) Disputed
Liabilities in Appeal:
·
Sales Tax/ VAT/CST – Rs.1149.200 Millions
·
Entry Tax – Rs.51.900 Millions
·
Customs Duty – Rs.103.700 Millions
FORM 8
|
Corporate
identity number of the company |
U64203MH1997PLC166329 |
|
Name of the
company |
RELIANCE
COMMUNICATIONS INFRASTRUCTURE LIMITED |
|
Address of the
registered office or of the principal place of business in |
H Block, 1st
Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai – 400710, Maharashtra,
India Email Id : hitesh.marthak@relianceada.com |
|
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 CIN No.:
U74999MH2008PLC182264 Email Id : debenturetrustee@axistrustee.com |
|
Nature of instrument
creating charge |
Unattested
Memorandum of Hypothecation dated 11th 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 Rupees
Loan Facility of Rs. 3250.000 Millions sanctioned by State Bank of India. |
|
Date of
instrument Creating the charge |
11.01.2013 |
|
Amount secured by
the charge |
Rs.3250.000 Millions |
|
Brief of the
principal terms and conditions and extent and operation of the charge |
Rate of
Interests: 13.5% Terms of
Repayment: 9.5 Months 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) Others: Not Applicable |
|
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 Chargers present and future moveable plant and machinery
including tower assets and optic fibre cables and capital work in progress |
FIXED ASSETS
·
· Buildings
· Plant and Machinery
· Electrical Installations
· Office Equipment
· Furniture and Fixtures
· Vehicles
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.54.64 |
|
|
1 |
Rs.88.17 |
|
Euro |
1 |
Rs.73.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
58 |
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.