MIRA
INFORM REPORT
|
Report Date : |
12.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
UTV ENTERTAINMENT TELEVISION LIMITED (w.e.f.05.11.2007) |
|
|
|
|
Formerly Known
As : |
V AND S BROADCASTI NG LIMITED (w.e.f. 04.06.2007) V AND S BROADCASTI NG PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, Building No.11, Solitaire Corporate Park, Guru
Hargovindji Marg, Chakala, Andheri (East), Mumbai – 400093, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.04.2007 |
|
|
|
|
Com. Reg. No.: |
11-170405 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.64.640 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U64200MH2007PLC170405 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV14871D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCV4782D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged into Broadcasting Business. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1382000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a subsidiary of UTV Global Broadcasting. It is an
established company having moderate track record. There appears losses recorded by the company from its operating
activities. External borrowing of the company seems to be increasing during
the financial year 2012. However, trade relations are reported as decent. Business is active.
Payment terms are slow but correct. In view of strong holding, the company can be considered for business
dealings with slight caution. |
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.
INFORMATION DENITED
Management Non Co-operative (91-22-40981400)
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.
LOCATIONS
|
Registered Office : |
7th Floor, Building No.11, Solitaire Corporate Park, Guru
Hargovindji Marg, Chakala, Andheri (East), Mumbai – 400 093, Maharashtra,
India |
|
Tel. No.: |
91-22-40981400/ 40981800 |
|
Fax No.: |
91-22-40981650/ 40981510 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
A-18 and A-19, Sector 16, Noida – 201 301, Uttar Pradesh, India |
|
Tel No.: |
91-120-4695353 |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Nikhil Kanti Gandhi |
|
Designation : |
Director |
|
Address : |
Joseph Avenue, Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age : |
23.08.1977 |
|
Date of Appointment : |
27.07.2012 |
|
DIN No.: |
00744698 |
|
|
|
|
Name : |
Mr. Sameer Kalpathy Ganapathy |
|
Designation : |
Director |
|
Address : |
Pathare Marg, Off Sitadevi Temple Road, Mahim – 400016, Maharashtra, India |
|
Date of Birth/Age : |
21.02.1978 |
|
Date of Appointment : |
15.05.2013 |
|
DIN No.: |
05215983 |
|
|
|
|
Name : |
Mr. Nitin Dadoo |
|
Designation : |
Director |
|
Address : |
Yari Road, Varsova, Andheri (West), Mumbai – 400061, Maharashtra, India |
|
Date of Birth/Age : |
11.09.1975 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
05222454 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh |
|
Designation : |
Office Executive |
|
|
|
|
Name : |
Mr.
Puneet Juneja |
|
Designation : |
Company
Secretary |
|
Address : |
303,
|
|
Date of Birth/Age : |
23.09.1979 |
|
Date of Appointment : |
28.04.2010 |
|
PAN No.: |
AFRPJ9169H |
MAJOR SHAREHOLDERS
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
UTV Global Broadcasting Limited, |
|
8652444 |
|
Nimish Shah |
|
1 |
|
Rajan Puri |
|
1 |
|
Nitin Chawla |
|
1 |
|
S. Venkta Subramanian |
|
1 |
|
Siddarth Tparia |
|
1 |
|
Roshini Bakshi |
|
1 |
|
|
|
|
|
Total |
|
8652450 |
LIST OF ALLOTTEESS:
AS ON 14.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
UTV Global Broadcasting Limited, |
|
219702 |
|
|
|
|
|
Total |
|
219702 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into Broadcasting Business. |
GENERAL INFORMATION
|
No. of Employees : |
200 (Approximately) |
|
|
|
|
Bankers : |
·
Axis Bank Limited, Credit Management Centre, Unit
No.6, Corporate Park, Chembur, Mumbai – 400 071, Maharashtra, India ·
Yes Bank Limited, 9th Floor, Nehru,
Centre, Discovery of India, Rd. Annie Besant Road, Worli, Mumbai – 400 018,
Maharashtra, India ·
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
SBICAP Trustee Company Limited, 202, Maker Tower, ‘E’, Cuffe Parade,
Colaba, Mumbai – 400 005, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028,
Maharashtra, India |
|
PAN No.: |
AAHFP0187A |
|
|
|
|
Ultimate Holding Company : |
UTV Software Communications Limited CIN No.: L72200MH1990PLC056987 |
|
|
|
|
Holding Company : |
UTV Global Broadcasting Limited, CIN No.: U32300MH2007PLC171337 |
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|
|
|
Fellow Subsidiaries : |
·
Genx Entertainment Limited ·
UTV New Media Limited ·
UTV Communications ( ·
IG Interactive Entertainment Limited ·
Indiagames Limited ·
Ignition Entertainment Limited, ·
Ignition London Limited (Formerly known as Digi
Guys Limited) ·
Ignition Entertainment Limited, ·
UTV Games Limited ·
True Games Interactive ·
UTV TV Content Limited ·
RB Entertainment Limited ·
First Future Agri. and Developers Limited ·
UTV Tele Talkies Limited ·
Screenshot Television Limited (Formerly known as
Smriti Irani Television Limited) |
|
|
|
|
Other related parties where common control exists : |
·
UTV News Limited ·
Unilazer Media Limited ·
Unilazer Holdings Limited ·
Television News and Entertainment ( ·
Vijay Broadcasting Private Limited ·
United Tele-Shopping and Marketing Company
Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9550000 |
Equity Shares |
Rs. 10/- each |
Rs.95.500 Millions |
|
1500000 |
Preference Shares |
Rs. 10/- each |
Rs.15.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.110.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6464000 |
Equity Shares |
Rs. 10/- each |
Rs.64.640 Millions |
|
|
|
|
|
AFTER 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9550000 |
Equity Shares |
Rs. 10/- each |
Rs.95.500 Millions |
|
1500000 |
Preference Shares |
Rs. 10/- each |
Rs.15.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.110.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8872152 |
Equity Shares |
Rs. 10/- each |
Rs.88.722 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
64.640 |
64.640 |
|
(b) Reserves & Surplus |
|
281.030 |
1018.150 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
345.670 |
1082.790 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
417.260 |
8.200 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
4.740 |
0.930 |
|
Total Non-current Liabilities (3) |
|
422.000 |
9.130 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
850.000 |
0.000 |
|
(b) Trade payables |
|
832.130 |
287.110 |
|
(c) Other current
liabilities |
|
126.810 |
44.700 |
|
(d) Short-term provisions |
|
0.360 |
0.000 |
|
Total Current Liabilities (4) |
|
1809.300 |
331.810 |
|
|
|
|
|
|
TOTAL |
|
2576.970 |
1423.730 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
58.790 |
7.890 |
|
(ii) Intangible Assets |
|
20.100 |
12.340 |
|
(iii) Capital
work-in-progress |
|
0.000 |
5.920 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
377.960 |
379.440 |
|
(d) Long-term Loan and Advances |
|
209.060 |
174.900 |
|
(e) Other Non-current assets |
|
0.000 |
0..000 |
|
Total Non-Current Assets |
|
665.910 |
580.490 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1297.850 |
375.640 |
|
(c) Trade receivables |
|
307.670 |
229.140 |
|
(d) Cash and cash
equivalents |
|
82.370 |
1.450 |
|
(e) Short-term loans and advances |
|
223.170 |
237.010 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
1911.060 |
843.240 |
|
|
|
|
|
|
TOTAL |
|
2576.970 |
1423.730 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
64.640 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2288.060 |
|
|
4] (Accumulated Losses) |
|
|
(1564.477) |
|
|
NETWORTH |
|
|
788.223 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
218.800 |
|
|
TOTAL BORROWING |
|
|
218.800 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1007.023 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
36.907 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
380.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
178.593
|
|
|
Sundry Debtors |
|
|
552.661
|
|
|
Cash & Bank Balances |
|
|
15.909
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
208.309
|
|
Total
Current Assets |
|
|
955.472
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
312.076 |
|
|
Other Current Liabilities |
|
|
50.656
|
|
|
Provisions |
|
|
2.624
|
|
Total
Current Liabilities |
|
|
365.356
|
|
|
Net Current Assets |
|
|
590.116
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1007.023 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1235.660 |
1031.670 |
1164.105 |
|
|
|
Other Income |
15.960 |
4.590 |
16.368 |
|
|
|
TOTAL (A) |
1251.620 |
1036.260 |
1180.473 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expenses |
179.990 |
65.160 |
|
|
|
|
Other Expenses |
1735.920 |
667.560 |
|
|
|
|
TOTAL (B) |
1915.910 |
732.720 |
803.684 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(664.290) |
303.540 |
376.789 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
36.800 |
2.740 |
16.367 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(701.090) |
300.800 |
360.422 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
34.560 |
5.680 |
5.330 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
(735.650) |
295.120 |
355.092 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.490 |
0.560 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(737.140) |
294.560 |
355.092 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(132.250) |
52.85 |
257.000 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(58.89)
|
28.43 |
30.08 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(59.53)
|
28.61 |
30.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(36.97)
|
34.18 |
35.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(2.13)
|
0.27 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.67
|
0.01 |
0.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06
|
2.54 |
2.62 |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE: Registered
office of the company has been shifted from Parijaat House, 1076, Dr. E Moses Road,
Worli Naka, Mumbai - 400 018, Maharashtra to the present address w.e.f.15.05.2010
NOTE: Current Maturity
of Long Term debt is Not Available
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and
advances from related parties |
417.260 |
8.200 |
|
Short Term Borrowings |
|
|
|
Working Capital
Loans from Banks |
850.000 |
0.000 |
|
|
|
|
|
Total |
1267.260 |
8.200 |
Note: No Charges Exist for Company.
BUSINESS OVERVIEW:
Subject owns and operates four channels namely “UTV Movies”, “UTV
Stars”, “UTV World Movies” and “UTV Action Telugu”.
UTV Movies caters to one of the biggest entertainment genres on Indian
Television - Hindi movies. While it has access to an enviable slate of movies
from the UTV library which includes the biggest blockbusters, it has also
acquired movies from multiple companies across India. Despite being the
youngest in the genre, the channel continues to enjoy patronage both from
audiences and advertisers. The GRPs have remained at 30 to 40 during the year.
The channel intends to further strengthen its library during the coming
financial year.
UTV Stars caters to the need for Bollywood content in India and is a
premium channel which gives the best of Bollywood content to audiences. With
daily news updates along with shows like “Up Close and Personal with PZ” and
“Live my Life” the channel is positioned to connect fans of Bollywood with the
biggest stars of the Industry. With its latest show “The Chosen One”
contestants now stand a chance to become both the face of the channel and enter
the glamorous world of Bollywood by getting a movie role. With “Walk of the
Stars”, the channel created India’s first official landmark dedicated to
Bollywood at Bandstand in bandra. The Walk is a tribute to the entire Bollywood
fraternity and immortalizes the biggest stars through statues, handprints and
other structures dedicated to them. All of the above reinforce the “Touch Feel
Believe” positioning of the channel which brings fans closer to their favorite
Stars.
UTV World Movies is the first channel of its kind which brings
International cinema to Indian television for the first time. UTV World Movies has
acquired International blockbusters in varied languages like Italian, French,
German, Spanish, Polish, Japanese, Korean, Chinese and many more. Today the
channel is a brand that covers three major verticals Television, Theatrical,
and DVD that goes out to audiences interested in World Cinema.
FIXED ASSETS:
Tangible Assets
·
Plant and Machinery
·
Furniture and Fixtures
·
Computers
·
Office Equipment
·
Leasehold Improvements
Intangible Assets
Computer Software
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.63.30 |
|
|
1 |
Rs.101.36 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
35 |
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.