MIRA INFORM REPORT
|
Report Date : |
01.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
MULTI SCREEN MEDIA PRIVATE LIMITED (w.e.f. 21.11.2007) |
|
|
|
|
Formerly Known
As : |
SET INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4th Floor, Interface, Building No.7, Off |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.09.1995 |
|
|
|
|
Com. Reg. No.: |
11-111487 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.91.390
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92100MH1995PTC111487 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS19106D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS1728D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is primarily engaged in the production and acquisition of
television programmes. |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
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 53000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well established company having a good track record. Financial position of the company appears to be sound and healthy.
Company has not taken any external borrowing, it is working on its owned
funds. Trade relation are fair. Business is active. Payment terms are
regular. The company can be considered for normal business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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
(Contact No.: 91-22-67081111)
LOCATIONS
|
Registered/
Corporate Office : |
4th Floor, Interface, Building No.7, Off Malad Link Road,
Malad (West), Mumbai – 400064, Maharashtra, India |
|
Tel. No.: |
91-22-67081111 |
|
Fax No.: |
91-22-66434748 |
|
E-Mail : |
|
|
Website: |
DIRECTORS
AS ON 28.12.2012
|
Name : |
Mr. Raman Hirji Maroo |
|
Designation : |
Director |
|
Address : |
21/22 A, Woodisnd 67, |
|
Date of Birth/Age : |
06.12.1950 |
|
Date of Appointment : |
23.10.1997 |
|
DIN No.: |
00169152 |
|
Name : |
Mr. Andrew Jay Kaplan |
|
Designation : |
Director |
|
Address : |
13225 Old Oak Lane, Los Angeles, California 90049 USA |
|
Date of Birth/Age : |
02.11.1960 |
|
Date of Appointment : |
25.09.2003 |
|
DIN No.: |
01532580 |
|
Name : |
Mr. Rakesh Kumar Aggarwal |
|
Designation : |
Director |
|
Address : |
25, Stevens Drive, #04-02, Singapore, 257922 |
|
Date of Birth/Age : |
02.09.1952 |
|
Date of Appointment : |
20.04.2004 |
|
DIN No.: |
01792251 |
|
Name : |
Mr. George Chien |
|
Designation : |
Director |
|
Address : |
6440 West, |
|
Date of Birth/Age : |
09.07.1972 |
|
Date of Appointment : |
30.11.2010 |
|
DIN No.: |
03101431 |
KEY EXECUTIVES
|
Name : |
Mr. Rajkumar Shyamlal Bidawatka |
|
Designation : |
Company Secretary |
|
Address : |
C 302, D Plot, Rock Avenue, Opposite Joy Ice-Cream, Near Hindustan
Naka, Kandivali West, Mumbai – 400067, Maharashtra, India |
|
Date of Birth/Age : |
10.05.1968 |
|
Date of Appointment : |
19.07.2007 |
|
PAN No.: |
AAIPB4224H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.12.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
SPE Mauritius Holdings Limited, |
|
3837925 |
|
SPE Mauritius investments Limited, |
|
1827716 |
|
Atlas Equifin Private Limited, |
|
1106829 |
|
Emerging Markets Growth Fund Inc.(India Sub Custody), India |
|
106250 |
|
Capital International Emerging Markets |
|
18750 |
|
The New Economy |
|
31400 |
|
American Funds Insurance Series International |
|
32200 |
|
American Funds Insurance Series Global |
|
6400 |
|
Grandway Global Holdings Limited, Mauritius |
|
1853531 |
|
Emerging Markets Growth Fund Inc. (India Sub Custody), India |
|
177945 |
|
Capital International Emerging, Markets |
|
31402 |
|
The New Economy |
|
48466 |
|
American Fund Insurance Series International |
|
50017 |
|
American Funds Insurance Series Global |
|
9748 |
|
|
|
|
|
Total |
|
9138579 |
AS ON 28.12.2012
Equity Share Break up (Percentage of Total Equity)
|
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 |
87.89 |
|
Bodies corporate |
12.11 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in the production and acquisition of
television programmes. |
||||
|
|
|
||||
|
Products/ Services : |
·
Satellite Television Programmes ·
Service Fees ·
Subscription Income
|
PRODUCTION STATUS: AS ON 31.03.2011
Licensed and
Installed capacity
The Company is
primarily engaged in the production and acquisition of television programmes. The
Company is not subject to licensing requirements and, due to the nature of the
business; it is not possible to determine installed capacity.
PRODUCTION:
|
Particulars |
Unit |
31.03.2011 |
31.03.2010 |
|
In-house production |
Number of
episodes |
-- |
28 |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400025,
Maharashtra, India |
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Subsidiaries : |
·
MSM Satellite ( ·
Mainline Sports Pte. Limited ·
Ben Set Limited ·
MSM Asia Limited U.K. ·
MSM North America Inc. ·
MSM Discovery Private Limited CIN No.: U92132MH2002PTC136158 |
|
|
|
|
Related Parties |
·
SPE Mauritius Holdings Limited ·
SPE Mauritius Investments Limited ·
Grandway Global Holdings Limited · Bangla Entertainment Private Limited CIN No.: U92199WB2007PTC112951 · SPE Films India Private Limited CIN No.: U92112DL1998PTC096338 · 2WAYTRAFFIC NV · Axn Networks India Private Limited CIN No.: U92419MH2010FTC210915 · South Asian Regional Investment Inc. · SPE Networks - India Inc. · Sony Pictures · Sony Music Entertainment (India) Private Limited CIN No.: U92100MH2004PTC146706 · Sony Corporation of Hongkong Limited · Sony India Private Limited CIN No.: U74899DL1994PTC062781 · Sony Electronics Asia Pacific Pte. Limited · CPT Holding Inc ·
SPE Singapore Holdings Inc |
CAPITAL STRUCTURE
AS ON 28.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9138579 |
Equity Shares |
Rs.10/- each |
Rs.91.390
Millions |
|
|
|
|
|
NOTE:
(A) 9,138,579 (Previous
Year 9,138,579) Equity Shares of Rs.10 each fully paid up (Of the above shares,
999,980 Equity Shares were issued partly for cash and partly for consideration
other than cash) (Of the above shares, 4,177,924 Equity Shares were issued as
fully paid up pursuant to investments in Equity Shares of MSM Satellite
(Singapore) Pte Limited (subsidiary company) without payments being received in
cash)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
91.390 |
91.390 |
|
(b) Reserves & Surplus |
|
13356.750 |
12036.450 |
|
(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) |
|
13448.140 |
12127.840 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
126.130 |
127.550 |
|
(d) long-term provisions |
|
629.880 |
112.290 |
|
Total Non-current
Liabilities (3) |
|
756.010 |
239.840 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
593.060 |
|
(b) Trade payables |
|
2112.010 |
2288.120 |
|
(c) Other current liabilities |
|
2364.470 |
3863.970 |
|
(d) Short-term provisions |
|
51.450 |
16.610 |
|
Total Current
Liabilities (4) |
|
4527.930 |
6761.760 |
|
|
|
|
|
|
TOTAL |
|
18732.080 |
19129.440 |
|
|
|
|
|
|
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
246.720 |
94.350 |
|
(ii) Intangible Assets |
|
29.620 |
20.490 |
|
(iii) Capital work-in-progress |
|
85.390 |
116.240 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
8155.200 |
8155.200 |
|
(c) Deferred tax assets (net) |
|
165.620 |
189.610 |
|
(d) Long-term Loan and Advances |
|
292.070 |
136.090 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
8974.620 |
8711.980 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
14.930 |
20.140 |
|
(c) Trade receivables |
|
6581.670 |
8060.620 |
|
(d) Cash and cash equivalents |
|
869.290 |
449.960 |
|
(e) Short-term loans and advances |
|
2207.370 |
1803.090 |
|
(f) Other current assets |
|
84.200 |
83.650 |
|
Total Current Assets |
|
9757.460 |
10417.460 |
|
|
|
|
|
|
TOTAL |
|
18732.080 |
19129.440 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
91.386 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
11785.098 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
11876.484 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
1595.650 |
|
|
TOTAL BORROWING |
|
|
1595.650 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
13472.134 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
119.576 |
|
|
Capital work-in-progress |
|
|
8.461 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
8155.203 |
|
|
DEFERREX TAX ASSETS |
|
|
282.800 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
107.525
|
|
|
Sundry Debtors |
|
|
7272.191
|
|
|
Cash & Bank Balances |
|
|
217.840
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
755.112
|
|
Total
Current Assets |
|
|
8352.668
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2929.764
|
|
|
Other Current Liabilities |
|
|
422.893
|
|
|
Provisions |
|
|
93.917
|
|
Total
Current Liabilities |
|
|
3446.574
|
|
|
Net Current Assets |
|
|
4906.094
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
13472.134 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income (Turnover) |
15210.540 |
11610.680 |
12479.261 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2974.480 |
889.710 |
553.207 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
86.290 |
80.380 |
106.133 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2888.190 |
809.330 |
447.074 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1567.890 |
557.980 |
132.993 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1320.300 |
251.350 |
314.081 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2187.011 |
1935.661 |
1621.580 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3507.311 |
2187.011 |
1935.661 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports of programs |
|
|
6143.136 |
|
|
|
Service income |
|
|
764.906 |
|
|
|
Service fee |
|
|
511.550 |
|
|
TOTAL EARNINGS |
13227.260 |
11322.639 |
7419.592 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
NA |
NIL |
|
|
TOTAL IMPORTS |
NA |
NA |
NIL
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
144.48 |
27.50 |
34.37 |
|
%2001-Oct-2013_files/image001.gif){kind=small}
%2001-Oct-2013_files/image002.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
27.98
|
7.59
|
5.28
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.07
|
0.04
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.05
|
0.13
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.16
|
1.55
|
2.42
|
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM BORROWINGS DETAIL: NOT AVAILABLE
|
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 |
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 |
No |
|
34] |
External Agency Rating,
if available |
No |
CASE DETAILS
|
Lodging No.:- |
ITXAL/1598/2013 |
Filing Date:- |
26/09/2013 |
|
Petitioner:- |
Commissioner Of Income Tax Central - II |
Respondent:- |
MULTI SCREEN MEDIA PVT LTD |
|
Petn.Adv.:- |
Padma Divakar |
|
|
|
District:- |
MUMBAI |
|
|
|
Bench:- |
DIVISION |
|
|
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
Next Date:- |
03/10/2013 |
Stage:- |
|
|
Coram:- |
REGISTRAR(OS)/PROTHONOTARY AND SR. MASTER |
|
|
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
260A |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
UNSECURED LOAN
|
Particulars |
31.03.2012 (Rs. in Millions) |
31.03.2011 (Rs. in Millions) |
|
Short Term Loan |
|
|
|
- From Banks (Payable within 1 year Rs.1595.650 millions; previous
year Rs.2030.200 millions) |
0.000 |
593.060 |
|
Total |
0.000 |
593.060 |
|
NOTE : (A) Payable within 1 year Rs.593.000 Millions |
||
OPERATION:
During its Seventeenth year of operations in the financial year 2011-12, the Company recorded a turnover of Rs. 15210.540 million as compared to Rs. 11610.680 million during the previous year. Net profit after tax was Rs. 1320.300 million for the year as against a net profit after tax of Rs. 251.350 million in the previous year.
CONTINGENT LIABILITY:
CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
|
|
|
|
Claims against the Company not acknowledge
as debts |
2020.760 |
20.755 |
|
Custom Duty Matters |
1.080 |
12.592 |
|
Income Tax Matters |
1365.400 |
869.613 |
|
Sales Tax Matters |
372.590 |
262.848 |
|
|
|
|
|
Total |
3759.830 |
1165.808 |
Note:
Future cash flow in respect of above, if any, is determinable only on receipt of judgments/decisions pending with the relevant authorities.
** Claims against the Company not acknowledged as debts includes the following -
A claim of Rs.1000.000 million raised by Saregama Private Limited on the Company, Balaji Telefilms Private Limited and Others.
A claim of Rs. 1000.000 million raised by Speak Asia Private Limited on the Company, Hats Off Productions Private Limited and Others.
FIXED ASSETS:
· Computer Software
· Leasehold Improvements
· Plant and Machinery
· Motor Vehicle
· Furniture and Fixture
· Office Equipments
· Computer
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.62.78 |
|
|
1 |
Rs.101.41 |
|
Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
57 |
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.