MIRA
INFORM REPORT
|
Report Date : |
13.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
INFRASTRUCTURE LEASING AND FINANCIAL SERVICES LIMITED |
|
|
|
|
Registered
Office : |
The IL and FS Financial Centre, Plot No. C-22, G Block, Bandra-Kurla
Complex, Bandra [East], Mumbai - 400051, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.09.1987 |
|
|
|
|
Com. Reg. No.: |
11-044571 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1218.329
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65990MH1987PLC044571 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI00330B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Commercialization and development of
infrastructure projects and creation of value added financial services. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (69) |
|
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 109700000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having fine track
record. Financial position of the company appears to be sound. Fundamentals
are strong and healthy. The rating tales into consideration strong institutional ownership,
experienced management, expertise in providing advisory services and
financing in infrastructure projects. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for any 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.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Non-Convertible Debentures : AAA |
|
Rating Explanation |
High degree of safety and carry lowest
credit risk. |
|
Date |
April 2013 |
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.: 91-22-26533333]
LOCATIONS
|
Registered Office/ Headquarter : |
The IL and FS Financial Centre, Plot No. C-22, G Block, Bandra-Kurla
Complex, Bandra [East], Mumbai-400051, Maharashtra, India |
|
Tel. No.: |
91-22-26533333/ 3232 |
|
Fax No.: |
91-22-26533038/ 26533069 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Located at: ·
Kolkata Chennai Guwahati |
DIRECTORS
AS ON 28.08.2013
|
Name : |
Mr. |
|
Designation : |
Whole-time director |
|
Address : |
1201/1202, Vinayak Angan, Old Prabhadevi Road, Prabhadevi, Mumbai –
400025, Maharashtra, India |
|
Date of Birth/Age : |
04.10.1952 |
|
Date of Appointment : |
06.07.1989 |
|
Voter ID No.: |
MT/05/029/000986 |
|
DIN No.: |
00002392 |
|
|
|
|
Name : |
Mr. Sunil Behari Mathur |
|
Designation : |
Director |
|
Address : |
A-20, Geetanjali Enclave, New Delhi – 110017, India |
|
Date of Birth/Age : |
11.10.1944 |
|
Date of Appointment : |
30.01.2005 |
|
DIN No.: |
00013239 |
|
|
|
|
Name : |
Mr. Keki Minoo Mistry |
|
Designation : |
Nominee director |
|
Address : |
702-703, Hasmukh Mansion, 39 Chitrakar Dhurandar Marg, 14th Road
Junction, Khar [West], Mumbai - 400011, Maharashtra, India |
|
Date of Birth/Age : |
07.11.1954 |
|
Date of Appointment : |
23.11.2006 |
|
DIN No.: |
00008886 |
|
|
|
|
Name : |
Mr. Yoshihiko Miyauchi |
|
Designation : |
Nominee director |
|
Address : |
4-15-10 Takanawa, Minato-ku, Tokyo, Japan 108 |
|
Date of Birth/Age : |
13.09.1935 |
|
Date of Appointment : |
23.03.1993 |
|
DIN No.: |
00991171 |
|
|
|
|
Name : |
Mr. Yuki Oshima |
|
Designation : |
Nominee director |
|
Address : |
3-19-11, Mutsuuraminami, Knazawa-ku, Yokohama-shi, Kanagawa 2360038,
Japan |
|
Date of Birth/Age : |
07.06.1947 |
|
Date of Appointment : |
21.11.2012 |
|
DIN No.: |
01006479 |
|
|
|
|
Name : |
Mr. Sanjeev Harsukh Doshi |
|
Designation : |
Nominee director |
|
Address : |
PO Box 3600, AUH Abu Dhabi, UAE |
|
Date of Birth/Age : |
30.12.1972 |
|
Date of Appointment : |
11.07.2008 |
|
DIN No.: |
02237584 |
|
|
|
|
Name : |
Mr. Ravindra Chandra Bhargava |
|
Designation : |
Director |
|
Address : |
House No 220, Sector 15-A, Noida, District Ghaziabad, Uttar Pradesh,
India |
|
Date of Birth/Age : |
30.07.1934 |
|
Date of Appointment : |
20.08.1990 |
|
DIN No.: |
00007620 |
|
|
|
|
Name : |
Mr. Michael Philip Pinto |
|
Designation : |
Director |
|
Address : |
405, Shalaka, Maharshi Karve Road, Mumbai - 400021, Maharashtra, India |
|
Date of Birth/Age : |
27.05.1943 |
|
Date of Appointment : |
07.07.2004 |
|
DIN No.: |
00021565 |
|
|
|
|
Name : |
Mr. Hari Sankaran |
|
Designation : |
Managing director |
|
Address : |
901/1001 Everglades, Shobha Sgar CHS, Plot 592, TPS III, 21st Road, Bandra
[West], Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
19.02.1961 |
|
Date of Appointment : |
16.06.1998 |
|
DIN No.: |
00002386 |
|
|
|
|
Name : |
Mr. Arun Kumar Saha |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. E, Raheja Terrace, Aga Ali Abbas Road, Bangalore – 560025,
Karnataka, India |
|
Date of Birth/Age : |
27.03.1953 |
|
Date of Appointment : |
01.02.1995 |
|
Voter ID No.: |
MT/08/036/207286 |
|
DIN No.: |
00002377 |
|
|
|
|
Name : |
Jaithirth Rao |
|
Designation : |
Director |
|
Address : |
61 Umang Kashibai Navrange Marg, Gamdevi, Mumbai – 400007,
Maharashtra, India |
|
Date of Birth/Age : |
12.07.1952 |
|
Date of Appointment : |
30.08.2012 |
|
DIN No.: |
00025289 |
|
|
|
|
Name : |
Mr. Harukazu Yamaguchi |
|
Designation : |
Alternate director |
|
Address : |
6-3-2-601 Kachidoki, Chuo-Ku, Tokyo 1040054, Japan |
|
Date of Birth/Age : |
09.12.1962 |
|
Date of Appointment : |
21.11.2012 |
|
DIN No.: |
03535391 |
|
|
|
|
Name : |
Mr. Makoto Shioda |
|
Designation : |
Alternate director |
|
Address : |
Grand Hyatt Service Apartments, Off Western Express Highway, Santacruz
(East), Mumbai - 400055, Maharashtra, India |
|
Date of Birth/Age : |
10.03.1956 |
|
Date of Appointment : |
22.04.2009 |
|
DIN No.: |
02158375 |
KEY EXECUTIVES
|
Name : |
Mr. Avinash Atmaram Bagul |
|
Designation : |
Secretary |
|
Address : |
D-101, Shiv Chhaya CHS, Eksar Road, Borivali (West), Mumbai – 400091,
Maharashtra, India |
|
Date of Birth/Age : |
26.09.1959 |
|
Date of Appointment : |
01.08.2006 |
|
PAN No.: |
AABPB5150B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.08.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 28.08.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Public financial companies |
25.61 |
|
Nationalised or other banks |
15.48 |
|
Mutual funds |
0.81 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
35.19 |
|
Bodies
corporate |
9.92 |
|
Directors
or relatives of directors |
0.15 |
|
Other
top fifty shareholders |
11.87 |
|
Others
|
0.97 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Commercialization and development of infrastructure
projects and creation of value added financial services. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
Central Bank of India, Debenture Trustee Section, Central Bank
MMO Building, 55 MG Road, Fort, Mumbai - 400023, Maharashtra, India |
|||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai –
400018, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADPM7056R |
|
|
|
|
Subsidiaries : |
· IL and FS Financial Services Limited [U65990MH1995PLC093241] IL and FS Infrastructure Development Corporation Limited
[U45201DL1999PLC125988] IL and FS Paradip Refinery Water Limited
[U41000TN2009PLC073439] IL and FS Energy Development Company Limited
[U40300DL2007PLC163679] IL and FS Township and Urban Assets Limited
[U70109MH1969PLC014184] IL and FS Environmental Infrastructure and Services
Limited [U90001DL2007PLC166554] IL and FS Maritime Infrastructure Company Limited
[U45201MH2006PLC165803] IL and FS Portfolio Management Services Limited
[U74140MH2006PLC165363] IL and FS Water Limited [U45400TN2007PLC071125] Khambhat Port Limited [U63032MH2008PLC182489] IL and FS Trust Company Limited [U66020MH1995PLC095507] IL and FS Securities Services Limited
[U74992MH2006PLC163337] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1500.000 Millions |
|
150,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 1500.000 Millions |
|
|
Total |
|
Rs. 3000.000
Millions |
Issued and Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
118,059,489 |
Equity Shares |
Rs. 10/- each |
Rs. 1180.595
Millions |
|
5,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 50.000 Millions
|
|
|
Total |
|
Rs. 1230.595 Millions |
Fully Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
116,696,575 |
Fully Paid-up Equity Shares |
Rs. 10/- each |
Rs. 1166.966
Millions |
|
1,362,914 |
Partly Paid-up Equity Shares of Rs. 10/- each |
Re. 1/- each |
Rs. 1.363
Millions |
|
5,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 50.000
Millions |
|
123,059,489 |
Total |
|
Rs. 1218.329 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1218.329 |
1154.700 |
1141.070 |
|
(b) Reserves & Surplus |
26215.300 |
23380.373 |
20531.101 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
27433.629 |
24535.073 |
21672.171 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
55990.611 |
51961.896 |
35023.121 |
|
(b) Deferred tax liabilities (Net) |
344.000 |
307.000 |
401.000 |
|
(c) Other long
term liabilities |
2208.830 |
1260.445 |
1069.320 |
|
(d) long-term
provisions |
4755.862 |
4106.339 |
4026.014 |
|
Total Non-current
Liabilities (3) |
63299.303 |
57635.680 |
40519.455 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
5379.603 |
4820.262 |
9398.426 |
|
(b)
Trade payables |
414.524 |
342.735 |
164.468 |
|
(c)
Other current liabilities |
6283.556 |
5017.142 |
7450.996 |
|
(d) Short-term
provisions |
2026.109 |
1867.487 |
1991.488 |
|
Total Current
Liabilities (4) |
14103.792 |
12047.626 |
19005.378 |
|
|
|
|
|
|
TOTAL |
104836.724 |
94218.379 |
81197.004 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2888.938 |
2970.094 |
3059.175 |
|
(ii)
Intangible Assets |
21.282 |
28.532 |
38.188 |
|
(iii)
Capital work-in-progress |
788.838 |
757.654 |
697.113 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
64429.436 |
59428.690 |
50343.512 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
24725.841 |
21399.962 |
16039.565 |
|
(e) Other
Non-current assets |
1166.081 |
859.821 |
242.661 |
|
Total Non-Current
Assets |
94020.416 |
85444.753 |
70420.214 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
36.000 |
36.000 |
36.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
515.721 |
707.746 |
97.620 |
|
(d) Cash
and cash equivalents |
6691.624 |
3942.106 |
4934.985 |
|
(e)
Short-term loans and advances |
3206.268 |
3656.458 |
5517.225 |
|
(f)
Other current assets |
366.695 |
431.316 |
190.960 |
|
Total
Current Assets |
10816.308 |
8773.626 |
10776.790 |
|
|
|
|
|
|
TOTAL |
104836.724 |
94218.379 |
81197.004 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
12596.280 |
9740.450 |
10157.175 |
|
|
|
Other Income |
1181.460 |
1134.100 |
1338.104 |
|
|
|
TOTAL (A) |
13777.740 |
10874.550 |
11495.279 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expenses |
1075.060 |
|
|
|
|
|
Other Operating and Administrative Expenses |
936.390 |
810.930 |
|
|
|
|
Amount set aside for Investment Valuation/ write off |
7.880 |
(722.860) |
|
|
|
|
Contingent provision against standard assets |
1.470 |
17.120 |
|
|
|
|
Provision and Contingencies |
629.500 |
202.610 |
|
|
|
|
TOTAL (B) |
2650.300 |
1176.860 |
4889.749 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11127.440 |
9697.690 |
6605.530 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6580.160 |
5278.510 |
3803.424 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4547.280 |
4419.180 |
2802.106 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
124.370 |
123.130 |
118.803 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4422.910 |
4296.050 |
2683.303 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
895.000 |
821.500 |
281.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3527.910 |
3474.550 |
2402.303 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Profit on sale of investments |
3657.250 |
2800.800 |
0.000 |
|
|
|
Dividend Income |
0.000 |
3.710 |
0.000 |
|
|
|
Other Income |
19.000 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
3676.250 |
2804.510 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
|
30.44 |
30.34 |
21.23 |
|
|
|
Diluted
|
29.97 |
29.59 |
20.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
25.61
|
31.95 |
20.90 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
35.11
|
44.11 |
26.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.16
|
12.62 |
8.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.18 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.24
|
2.31 |
2.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.77
|
0.73 |
0.57 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Current
Maturities of Long Term Debt |
|
|
|
|
Debentures From Banks |
15.000 |
750.000 |
150.000 |
|
From Related Parties |
0.000 |
0.000 |
5.000 |
|
From Other Parties |
2178.020 |
1207.430 |
2478.770 |
|
Term Loans From Banks |
0.000 |
0.000 |
0.000 |
|
From Other Parties |
286.840 |
255.560 |
231.940 |
|
Term Loans Banks |
500.000 |
0.000 |
0.000 |
|
From Other Parties |
393.570 |
391.780 |
390.560 |
|
Inter Corporate Deposit From Related Parties |
110.000 |
225.270 |
2215.110 |
|
From Other Parties |
267.900 |
100.000 |
50.070 |
|
|
|
|
|
|
Total |
3751.330 |
2930.040 |
5521.450 |
|
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 |
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 |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date: 03.06.2013 |
|
Lodging No: ARBPL/737/2013 Filing Date: 03.06.2013 Reg. No.: ARBP/504/2013 Reg. Date: 08.07.2013 |
|
Petitioner: S A B INDUSTRIES LIMITED Respondent: INFRASTRUCTURE
LEASING AND FINANCIAL SERVICES LIMITED Petn. Adv: M/S THAKORE JARIWALA AND ASSOCIATES District: OUTSIDE MAHARASHTRA |
|
Bench: SINGLE Status: Pre-Admission Category:
ARBITRATION ACT |
|
Act: Arbitration and Conciliation Act 1996 UNDER SECTION: 9 |
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Sub-ordinated
Debt From Related Parties |
1068.540 |
1068.540 |
|
From Other Parties |
1080.000 |
1080.000 |
|
Term Loans Banks |
0.000 |
500.000 |
|
From Other Parties |
2121.100 |
2490.030 |
|
Inter Corporate Deposit From Related Parties |
0.000 |
200.000 |
|
From Other Parties |
0.000 |
380.590 |
|
Covered Warrants From Related Parties |
1693.000 |
1693.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Short –term Deposits From Related Parties |
50.000 |
953.820 |
|
From Other Parties |
1601.070 |
520.000 |
|
Commercial Papers From Other Parties |
3675.980 |
3341.940 |
|
|
|
|
|
Total |
11289.690 |
12227.920 |
GENERAL INFORMATION:
Subject is one of India’s leading infrastructure development and finance companies. IL and FS has a distinct mandate of catalyzing the development of infrastructure in the country. The organisation has focused on the commercialization and development of infrastructure projects and creation of value added financial services. From concept to execution, IL and FS houses the expertise to provide the complete array of services necessary for successful project completion, visioning, documentation, development, finance, management, technology and execution.
IL and FS is currently registered with the Reserve Bank of India (RBI) as a systemically important Core Investment Company (CIC-ND-SI). As per the RBI CIC framework the Company invests in and provides loans to its group companies.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Guarantee (Including letter of credit) issued to third parties on
behalf of Group Companies |
4564.780 |
3862.040 |
|
Sales Tax: |
|
|
|
- Maharashtra Sales Tax |
0.000 |
8.240 |
|
- Gujarat Commercial Tax |
0.170 |
0.170 |
|
Employee State Insurance |
0.130 |
0.130 |
FIXED ASSETS:
· Leasehold Land
Premises
Plant
and Machinery
Furniture
and Fixture
Vehicles
Office
Equipment’s
Data
Processing Equipment’s
Electrical
Installation
Improvement
to Leased Property
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. 63.59 |
|
|
1 |
Rs. 101.56 |
|
Euro |
1 |
Rs. 85.15 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
69 |
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.