MIRA
INFORM REPORT
|
Report Date : |
20.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
GANJAM TRADING COMPANY PRIVATE LIMITED |
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Registered
Office : |
New |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
03.09.1982 |
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Com. Reg. No.: |
11-028131 |
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Capital
Investment / Paid-up Capital : |
Rs.22.118 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1982PTC028131 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Non banking financial company |
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No. of Employees
: |
3 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of “ESSEL GROUP” It is a well established Non
Banking Financial Company having moderate track. The company possesses a moderate financial profile marked by adequate
network base along with weak asset quality as well as profitability and an
incident of non compliance with RBI Regulations, during the year under
review. Management has reported huge accumulated losses which are wiped off
and mitigated by decent balance in security premium account during FY 13. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow but correct. In view of strong support from the promoters, the company can be considered
for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEWS
N E W S
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the
political and economic development in the dragon economy and has figured out
something that is quite worrying. He is of the view that the Chinese economy
could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed
that asset classes like real estate and equities were the biggest beneficiaries
of the liberalization policies. A firm called Ciane
Analytics studied returns from assets including equities, gold, fixed deposits,
G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17
crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Loan “BB-“ |
|
Rating Explanation |
Moderate risk of default regarding timely servicing of financial
obligations. |
|
Date |
April 14, 2014 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Anil Goyal |
|
Designation : |
Account Manager |
|
Contact No.: |
91-9920511136 |
|
Date : |
19.08.2014 |
LOCATIONS
|
Registered Office : |
New Prakash Cinema, N.M. Joshi Marg, Lower Parel, Mumbai –
400011, Maharashtra, India |
|
Tel. No.: |
91-22-24819076 |
|
Mobile No.: |
91-9920511136 (Mr. Anil Goyal) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Rajender Prasad Tyagi |
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Designation : |
Director |
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Address : |
30-203, Neptune Chsl Phase 2 Sector 3 EMP, Thakur Village, Kandivali – E,
Mumbai – 400101, Maharashtra, India |
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Date of Birth/Age : |
19.12.1964 |
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Date of Appointment : |
30.10.2008 |
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DIN No. : |
01847500 |
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Other Directorship :
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Name : |
Mr. Anand Janardan Lamdhade |
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Designation : |
Director |
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Address : |
289, West High Court Road, Laxmi Nagar, Nagpur – 440022, Maharashtra, India |
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Date of Birth/Age : |
06.07.1969 |
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Date of Appointment : |
30.09.2010 |
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DIN No. : |
02400718 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Anil Goyal |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
No. of Equity
Shares |
|
Sushila Goenka |
1 |
|
Vaibhav Goel |
87884 |
|
Kaveeta Goel |
19290 |
|
Total |
107175 |
|
Names of Shareholders |
No. of
Preference Shares |
|
Premier Finance and Trading company Limited |
114000 |
|
Total |
114000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Other top fifty shareholders |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Non banking financial company |
GENERAL INFORMATION
|
No. of Employees : |
3 (Approximately) |
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Bankers : |
· Axis Bank Limited, Axis House, Ground Floor, Corporate Banking Branch, Wadia International Centre, P. B. Marg, Worli, Mumbai - 400025, Maharashtra, India ·
IDBI Bank, Khar Branch,
Mumbai, India ·
ICICI Bank Limited, Bhayander,
Mumbai, India ·
Punjab National Bank Limited, New Delhi, India |
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Facilities : |
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Banking
Relations : |
-- |
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Finance Institution |
· Sicom Limited, Nirmal Bldg1st Floor, Nariman point, Mumbai - 400021, Maharashtra, India · Bajaj Finance Limited, Akurdi Pune, Mumbai Pune Road, Pune – 411035, Maharashtra, India |
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Auditors : |
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Name : |
B.S. Sharma and Company Chartered Accountants |
|
Address : |
303, 3rd Floor, Guru Prabha
Apartments, 507-508, TPSIV, Sunder Nagar, Senapati Bapat Road, Dadar (West), Mumbai – 400028, Maharashtra,
India |
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Tel. No.: |
91-22-66623197 |
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E-Mail : |
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PAN No.: |
AAAPS8241F |
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Sister Concern : |
Rupee finance and Management Private limited |
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|
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|
Subsidiary Company |
·
Intrex India Private
Limited U72200MH2000PTC127738 ·
ITZ Cash Card Limited U74999Mh2006PLC160835 ·
ITX Trading and Financial Services Private
Limited U6420MH2006PTC160807 ·
Aqualand India Private
Limited ·
East India Company Fab-5 Mechandise,
·
RKJ woods plantation Private Limited ·
Hermitage Investment and Trading Company Limited ·
Rupee Finance and Management Private Limited ·
Essel Propack Limited
|
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
238000 |
Equity Shares |
Rs.100/- each |
Rs.23.800 Millions |
|
212000 |
Preference Shares |
Rs.100/- each |
Rs.21.200 Millions |
|
|
Total |
|
Rs.45.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
107175 |
Equity Shares |
Rs.100/- each |
Rs. 10.718 Millions |
|
114000 |
Preference Shares |
Rs.100/- each |
Rs. 11.400 Millions |
|
|
Total |
|
Rs. 22.118 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 |
22.118 |
22.118 |
11.218 |
|
(b) Reserves &
Surplus |
3867.100 |
3569.305 |
234.283 |
|
(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) |
3889.218 |
3591.423 |
245.501 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
547.759 |
561.305 |
196.538 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.301 |
0.301 |
0.301 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
548.060 |
561.606 |
196.839 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1127.685 |
796.716 |
3416.555 |
|
(b) Trade payables |
0.000 |
0.000 |
0.000 |
|
(c) Other current
liabilities |
130.277 |
146.273 |
31.299 |
|
(d) Short-term provisions |
250.170 |
510.269 |
211.516 |
|
Total Current Liabilities
(4) |
1508.132 |
1453.258 |
3659.370 |
|
|
|
|
|
|
TOTAL |
5945.410 |
5606.287 |
4101.710 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
713.109 |
609.279 |
87.884 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
2363.813 |
350.486 |
499.788 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
174.228 |
175.049 |
60.738 |
|
(e) Other Non-current
assets |
0.130 |
0.000 |
0.000 |
|
Total Non-Current Assets |
3251.280 |
1134.814 |
648.410 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
|
|
(b) Inventories |
234.709 |
1591.303 |
1078.023 |
|
(c) Trade receivables |
1.146 |
4.199 |
84.174 |
|
(d) Cash and cash
equivalents |
15.432 |
77.517 |
5.889 |
|
(e) Short-term loans and
advances |
2442.843 |
2798.454 |
2285.214 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
2694.130 |
4471.473 |
3453.300 |
|
|
|
|
|
|
TOTAL |
5945.410 |
5606.287 |
4101.710 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
175.504 |
440.072 |
263.821 |
|
|
Other Income |
84.246 |
105.439 |
119.129 |
|
|
Increase/(Decrease) in
value of Stock of Shares |
NA |
513.279 |
828.512 |
|
|
TOTAL (A) |
NA |
1058.790 |
1211.462 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
901.547 |
945.548 |
|
|
Loss on Sale of
Investment |
|
282.553 |
0.000 |
|
|
Other expenses |
|
22.913 |
6.459 |
|
|
TOTAL (B) |
NA |
1207.013 |
952.007 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
NA |
(148.223) |
259.455 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
192.741 |
562.513 |
328.798 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
(710.736) |
(69.343) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
4.432 |
4.611 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
38.597 |
(715.168) |
(73.954) |
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
0.000 |
|
|
|
(259.198) |
|
|
|
Less |
PROVISIONS
AS PER RBI PRUDENTIAL NORMS |
|
298.910 |
140.258 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
297.795 |
(1014.078) |
(214.212) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1346.42 |
9461.89 |
1998.72 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
21.99 |
(162.51) |
(28.03) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.08 |
(13.61) |
(2.05) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
(0.20) |
(0.30) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.43 |
0.38 |
14.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.79 |
3.08 |
0.94 |
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 |
11.218 |
22.118 |
22.118 |
|
Reserves & Surplus |
234.283 |
3569.305 |
3867.100 |
|
Net worth |
245.501 |
3591.423 |
3889.218 |
|
|
|
|
|
|
long-term borrowings |
196.538 |
561.305 |
547.759 |
|
Short term borrowings |
3416.555 |
796.716 |
1127.685 |
|
Total borrowings |
3613.093 |
1358.021 |
1675.444 |
|
Debt/Equity ratio |
14.717 |
0.378 |
0.431 |
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 |
263.821 |
440.072 |
175.504 |
|
|
|
66.807 |
(60.119) |
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 |
263.821 |
440.072 |
175.504 |
|
Profit |
(214.212) |
(1014.078) |
297.795 |
|
|
(81.20%) |
(230.43%) |
169.68% |
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 |
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 |
No |
|
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 |
Yes |
Note:
The Registered Office of the company has been shifted 135, Continental
Building, Dr. Annie Besant Road, Worli,
Mumbai - 400018, Maharashtra, India to the present
address w.e.f. 31.08.2010
Outlook:
The company continued to be a registered Non-Banking Finance Company (NBFC) as per provisions of Section 451A of the Reserve Bank of India Act, 1934.
As stated in the preceding years, that the company is an investment company and continues to hold investrnents / trade in stocks equity shares both quoted and unquoted of Essel Group of companies. It offers loan or advances by placing deposits of surplus money with or without interest considering the commercial expediencies and business objectives.
As stated in the preceding report, the object of such investments or inventories are with a purpose of unlocking values by way of merger, demerger, amalgamation etc., by the companies in which the company's quoted investments exist and are long term strategic investments with an objective of achieving value enhancement for the benefit of the shareholders of the company. However, considering the future prospects of strong Indian economy, various businesses, which the investee companies are in, your directors expects to have substantial value enhancement for the benefit of shareholders in the years ahead.
While valuing the investments your directors have followed the Accounting Standard 14 since these investments are of strategic business interest and long term in nature, hence temporary fall in the market values of quoted shares, if any, are not provided for.
Financial Highlights
& Operations:
The operations during the year have resulted in a Profit before tax and NPA of Rs. 38.597 Millions against previous year's loss of Rs. 715.170 Millions. Interest expense had gone down to Rsa192.741 Millions from Rs.562.470 Millions due to increased business activities of advancing of loans and/or share application money etc. The net profit after adjustment for the year is Rs.297.795 Millions compared to the previous year's loss of Rs. 1014.080 Millions. The company received as in earlier years, dividend, rent and interest income, as appearing in the annexed financial statements. The commercial /office premise continued to be leased to a corporate body for a lease rent. This has contributed Rs.47.245 Millions to increase the profit of the company. The net worth of The company is positive at Rs.3889.218 Millions (Rs.3591.422 Millions) during the year after adjusting the NBFC provisions and accumulated loss of Rs. 2981.590 Millions (Rs.3279.390 Millions). This is due to profit from business operation, capital gains etc. However, on the basis of the financial planning, restructuring of portfolio held, your board to better in the near future, by entering into new business activities, enhancing the capital base etc. barring unforeseen circumstances.
During the financial year the Aqualand India Limited. has allotted 18,750 (Eighteen Thousand Seven Hundred Fifty) 0.01 % Non Cumulative Redeemable Preference Shares of Rs.100/- each at the premium of Rs.0.020 to the Company against the Advance Share Application Money given in the F.Y.2009-10.
During the financial year Company has converted the part of the Unsecured Loan to Advance Share Application Money as per details below, since these companies have shown their interest in participating in equity of the company:
Details of Loans Converted from Loans to Advance Share application Mone :
|
Sr. No. |
Name of the Company |
Amount in Millions |
|
1. |
Rupee Finance and Management Private limited |
680.000 |
|
2. |
Fairplay Properties Private Limited |
700.000 |
|
3. |
TOTAL |
1380.000 |
In the preceding year, your company, in order to part finance the acquisition of the Office premises, had borrowed Secured Loan of Rs.324.000 Millions (Rs.330.000 Millions), from Axis Bank Limited, on the terms and conditions contained in the Loan agreement dated - 21.03.2012. The said loan is secured by exclusive 1st charge on said premises at 13th and 14th floor of Times Tower A wing at Kamala Mills Compound, Mumbai and exclusive 1st hypothecation charge over all the movable fixed assets and current assets of the borrower (Present And Future ) pertaining to the project, including the cash flows from these Office premises. The said loan is repayable in 10 years six months from draw down. The amount repayable within a year is Rs.12.000 Millions (Rs/6.000 Millions).
New Business -
Investment:
The Company has ventured into new business activity in Punjab jointly with Sh. Swaran Salaria and others for setting Nursing College as an educational institution vide agreement date 25/03/2012, to be funded by way of secured loans Rs.1020.000 Millions from banks and the company had, on the terms and conditions as detailed in the said agreement, committed by way of financial participation of Rs.364.000 Millions, of which a sum of Rs.110.000 Millions had been paid as earnest money. The work thereon is yet to commence.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10439499 |
29/07/2013 |
196,400,000.00 |
BAJAJ FINANCE LIMITED |
AKURDI PUNE-,
MUMBAI PUNE ROAD, PUNE, MAHARASHTRA |
B80616097 |
|
2 |
10347369 |
21/03/2012 |
330,000,000.00 |
AXIS BANK LIMITED |
AXIS HOUSE, GROUND FLOOR,
CORPORATE BANKING BRANCH, WADIA INTERNATIONAL CENTRE, P.B. MARG, WORLI, |
B36907806 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits (Inter Corporate Deposit) |
30.014 |
17.514 |
|
Loans / ICD from Group Companies |
58.315 |
55.165 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans /ICD from Related Parties |
1127.685 |
796.716 |
|
Total |
1216.014 |
869.395 |
CONTINGENT
LIABILITIES:
Contingent liabilities are disclosed by way of
Notes to the Accounts. The Management has accounted for all such liabilities likely
to materialize after the year and till the finalization of accounts and having
effect on the position stated in the Accounts as at the year end.
CHARGES:
|
ENTITY |
PERSON |
COMPETENT AUTHORITY |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
|
GANJAM TRADING COMPANY PRIVATE LIMITED |
|
SEBI |
ALLEGED FAILURE IN MAKING DISCLOSURE OF SHAREHOLDING/CHANGES IN SHAREHOLDING TO STOCK EXCHANGES AND SEBI AS REQUIRED UNDER REGULATIONS 3(3) AND 3(4) OF SEBI TAKEOVER CODE, 1997 IN MATTER OF ESSEL PROPACK LIMITED |
REACHED
SETTLEMENT (SETTLEMENT CHARGES RS.2,00,000 VIDE CONSENT ORDER) |
|
|
GANJAM TRADING
COMPANY PRIVATE LIMITED. |
|
SEBI |
AIDED AND ABETTED KP ENTITIES IN LARGE SCALE MARKET MANIPULATIONS OF VARIOUS SCRIPS INCLUDING ZEE ENTERTAINMENT ENTERPRISES LIMITED |
CENSURED/WARNED
& DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS |
|
FIXED ASSETS
·
Office Premises – Times
Tower
·
New Office Premises –
Time Tower
·
Residential Flat – Kunwar House
·
New Prakash
Cinema Building
·
Computer
·
Computer Software
·
Office Equipments
·
Air Condition
·
Furniture and Fixtures
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. 60.66 |
|
|
1 |
Rs. 100.80 |
|
Euro |
1 |
Rs. 80.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.