MIRA
INFORM REPORT
|
Report Date : |
19.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
MUSIC BROADCAST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5th Floor, RNA Corporate Park, Off |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
04.11.1999 |
|
|
|
|
Com. Reg. No.: |
11-137729 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.389.096
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U64200MH1999PTC137729 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject
is engaged in the business of Operating Private FM Radio Stations through the
brand Radio City. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record.
Networth of the company has been eroded. However, business is active. Payments are reported to be slow. The company can be considered for business dealings on a safe and
secured 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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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 BY
|
Name : |
Mr. Jimmy |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-66969100 |
|
Date : |
17.04.2014 |
LOCATIONS
|
Registered Office : |
5th Floor, RNA Corporate Park, Off |
|
Tel. No.: |
91-22-66969100 |
|
Fax No.: |
91-22-26429113 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. George Thomas |
|
Designation : |
Director |
|
Address : |
483, AECS Layout, Kundalahalli P.O. Bangalore-560037, |
|
Date of Birth/Age : |
22.06.1960 |
|
Date of Appointment : |
17.01.2005 |
|
DIN No.: |
00068470 |
|
|
|
|
Name : |
Mr. Sunil Vasudevan Theckath |
|
Designation : |
Director |
|
Address : |
96, 2nd Cross Road, Block 5, Banashankari, 3rd
Stage, 3rd Phase, Bangalore-560085, |
|
Date of Birth/Age : |
03.03.1966 |
|
Date of Appointment : |
24.08.2007 |
|
DIN No.: |
00294130 |
|
|
|
|
Name : |
Mr. Vishal Gangadhar Nevatia |
|
Designation : |
Director |
|
Address : |
202, Adibaba, |
|
Date of Birth/Age : |
05.08.1969 |
|
Date of Appointment : |
17.01.2005 |
|
DIN No.: |
01307857 |
|
|
|
|
Name : |
Mr. Vikram R K Nirula |
|
Designation : |
Director |
|
Address : |
704, Gypsy Rose Shatri Nagar, Andheri (West), Mumbai-400053, |
|
Date of Birth/Age : |
28.08.1972 |
|
Date of Appointment : |
02.03.2005 |
|
DIN No.: |
01655115 |
KEY EXECUTIVES
|
Name : |
Mr. Jimmy |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Equity
Shares |
No. of
Preferences Shares |
|
India Value Fund Trustee Company Private Limited, India |
8643054 |
4900 |
|
IVF Holdings Private Limited, India |
21258466 |
-- |
|
George Thomas jointly with Sunil Theckath |
3008066 |
-- |
|
Crystal Sound and Music Private Limited, India |
9003181 |
-- |
|
|
|
|
|
TOTAL
|
41912767 |
4900 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
92.82 |
|
Other
top fifty shareholders |
|
7.18 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in the business of Operating Private FM Radio Stations through the
brand Radio City. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Axis Bank Limited, Universal Insurance Building, Ground Floor, Sir P M
Road, Fort, Mumbai-400001, Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar
(West), Mumbai-400029, Maharashtra, India |
|
PAN No: |
AABFS3421N |
|
|
|
|
Holding Company : |
IVF Holdings Private
Limited [U65993MH2005PTC155967] |
|
|
|
|
Ultimate Holding Company : |
India Value
Fund2 |
|
|
|
|
Fellow Subsidiaries : |
Meru Cab Company
Private Limited [Formerly known as V-Link Taxis Private Limited] |
|
|
|
|
Entities which exercise significant influence on
the Company : |
·
India Value Fund Trustee Company Private
Limited [U65991MH2000PTC126846] ·
Crystal Sound and Music Private Limited [U92100MH2007PTC171119] |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42000000 |
Equity Shares |
Rs.10/- each |
Rs.420.000 Millions |
|
50000 |
Preferences Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
TOTAL
|
|
Rs.420.500
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41912767 |
Equity Shares |
Rs.10/- each |
Rs.419.128
Millions |
|
4900 |
Preferences Shares |
Rs.10/- each |
Rs.0.049
Million |
|
|
TOTAL |
|
Rs.419.177 Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42050000 |
Equity Shares |
Rs.10/- each |
Rs.420.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38909600 |
Equity Shares |
Rs.10/- each |
Rs.389.096
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 |
389.096 |
389.096 |
389.096 |
|
(b) Reserves &
Surplus |
(533.149) |
(664.136) |
(714.113) |
|
(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) |
(144.053) |
(275.040) |
(325.017) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1179.900 |
1393.423 |
1568.423 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
12.604 |
8.604 |
17.053 |
|
Total Non-current
Liabilities (3) |
1192.504 |
1402.027 |
1585.476 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
32.939 |
43.540 |
29.203 |
|
(c) Other current
liabilities |
587.688 |
620.877 |
675.560 |
|
(d) Short-term provisions |
18.226 |
14.976 |
1.938 |
|
Total Current Liabilities
(4) |
638.853 |
679.393 |
706.701 |
|
|
|
|
|
|
TOTAL |
1687.304 |
1806.380 |
1967.160 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
61.739 |
110.863 |
179.558 |
|
(ii) Intangible Assets |
359.861 |
479.618 |
604.556 |
|
(iii) Capital
work-in-progress |
13.468 |
18.801 |
32.311 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.100 |
0.100 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
249.083 |
245.451 |
211.331 |
|
(e) Other Non-current
assets |
82.860 |
120.023 |
108.120 |
|
Total Non-Current Assets |
767.111 |
974.856 |
1135.876 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
7.000 |
4.500 |
29.043 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
621.135 |
617.645 |
534.265 |
|
(d) Cash and cash
equivalents |
220.111 |
123.053 |
147.279 |
|
(e) Short-term loans and
advances |
67.398 |
73.883 |
110.321 |
|
(f) Other current assets |
4.549 |
12.443 |
10.376 |
|
Total Current Assets |
920.193 |
831.524 |
831.284 |
|
|
|
|
|
|
TOTAL |
1687.304 |
1806.380 |
1967.160 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
SALES |
|
|
|
|
|
Income |
1400.474 |
1241.034 |
1050.065 |
|
|
Other Income |
24.485 |
29.946 |
44.558 |
|
|
TOTAL (A) |
1424.959 |
1270.980 |
1094.623 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Administrative and Other
Expenses |
1061.061 |
985.021 |
866.531 |
|
|
TOTAL (B) |
1061.061 |
985.021 |
866.531 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
363.898 |
285.959 |
228.092 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
47.939 |
68.266 |
75.946 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
315.959 |
217.693 |
152.146 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
(F) |
198.963 |
234.551 |
245.953 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
116.996 |
(16.858) |
(93.807) |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Less |
EXCEPTIONAL ITEMS (I) |
(6.239) |
(63.531) |
(173.297) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H-I) (J) |
123.235 |
46.673 |
79.490 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(2447.149) |
(2494.079) |
(2573.850) |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
0.000 |
(0.257) |
(0.281) |
|
|
|
|
|
|
|
|
BALANCE CARRIED TO THE
B/S |
(2323.914) |
(2447.149) |
(2494.079) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(3.17) |
(1.20) |
(2.04) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
8.65
|
3.67 |
7.26 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.35
|
(1.35) |
(8.93) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.99
|
(0.94) |
(4.85) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.81)
|
0.06 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(8.19)
|
(5.07) |
(4.83) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44
|
1.22 |
1.17 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
389.096 |
389.096 |
389.096 |
|
Reserves & Surplus |
(714.113) |
(664.136) |
(533.149) |
|
Net worth |
(325.017) |
(275.040) |
(144.053) |
|
|
|
|
|
|
long-term borrowings |
1568.423 |
1393.423 |
1179.900 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
1568.423 |
1393.423 |
1179.900 |
|
Debt/Equity ratio |
(4.826) |
(5.066) |
(8.191) |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1050.065 |
1241.034 |
1400.474 |
|
|
|
18.186 |
12.847 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1050.065 |
1241.034 |
1400.474 |
|
Profit |
79.490 |
46.673 |
123.235 |
|
|
7.57% |
3.76% |
8.80% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF 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 |
305.748 |
334.725 |
334.725 |
|
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
|
CASE DETAILS BENCH: BOMBAY PRESENTATION DATE: 24/07/2013 LODGING
NO.: NMSL/1450/2013
FILING DATE: 24/07/2013 REG. NO.: NMS/1528/2013
REG. DATE: 20/11/2013 LODGING NO.:
SL/626/2013
REG. NO.: S/796/2013
|
||||||||||||||||||||||||||||||||||||||
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
NOTE:
The Registered office of the company has been shifted from IL an FS
Financial Centre, 5th Floor, Plot No. C-22, G Block, North Aquadrant
BKC, Bandra (East), Mumbai-400051,
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Loans and advances from related parties |
1179.900 |
1317.400 |
|
TOTAL
|
1179.900 |
1317.400 |
BUSINESS OPERATIONS AND OUTLOOK:
The financial year
FY2012-13 has been a stellar year for the Company with a good overall
performance across different parameters. The Company outperformed the radio industry
and registered a revenue growth of 13% in FY 2012-13 resulting in 1% share gain
in volume and 1% share gain in value. Programming and Marketing initiatives
have resulted in significant listenership growth in the key markets. Radio
City’s listenership grew by 16% in Bangalore and 3% in Mumbai. Radio City
retained the No.1 position in both the cities throughout the year and continued
to be amongst the top 2 radio networks across all operating markets as per IRS.
Radio City’s continued growth projectile was scripted on the back of strong and
consistent programming and marketing efforts which ensured that Radio City
remained firmly on the top. Radio City Blue Carpets were extremely successful.
Radio City Gully premier league, Radio City super singer, Babber Sher, Radio
City Garbha premier league, Radio City Navvula / Sirippu Don continued to bring
in huge listenership engagement and affinity.
The Company’s Human
Resource policies continue to yield results. The Company participated in the
Great Places to Work survey and was acknowledged to be amongst the top 5 in the
India’s Best Companies to work in Rewards and Recognition across all categories
of Companies. The Company’s internet business is growing in strength with
Planetradiocity.com page views growing to 24 million. The Web Radio Section’s
listenership reached 2.2 million streams/month reaching 160 countries, 120
cities in India. Planetradiocity.com boasts of a robust Web Radio section.
Apart from the flagship online radio station, Radio City Fun Ka Antenna and
Radio City Indipop, 3 more web radio streams were launched in the year 2012-13
namely Radio City Freedom, Radio City Hindi and Radio City Smaran.
NATURE OF OPERATIONS:
Subject was incorporated in
India on November 4, 1999. The Company is engaged in the business of operating
Private FM Radio Stations through the brand Radio City. The Company started its
operations in India in July, 2001 in Bangalore and currently owns licenses
issued by the Ministry of Information and Broadcasting (MIB) to operate its
radio stations in 20 cities across India.
FIXED ASSETS:
·
One Time Entry/ Migration
Fees
·
Copy Rights
·
Music Portal
·
Towers, Antenna and
Transmitters
·
Computers
·
Furniture and Fixtures
·
Studio Equipments
·
Office Equipments,
·
Air Conditioners
·
UPS and Gen Set
·
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 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.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
12 |
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.