MIRA
INFORM REPORT
|
Report Date : |
27.08.2014 |
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) : |
31.03.2013 |
|
|
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Exist |
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|
|
Comments : |
Subject is an established company having good track record. The management has witnessed a dip in its revenue as well as net
profitability during 20123, however, reported a decent profit margin. The company possesses a favorable financial profile marked by strong
net worth along with the fact that there are no external borrowing recorded
during 2013. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. In view of long standing experience and reputation of the promoters,
the subject can be considered for 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
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.
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 DENIED
Management Non Co-Operative (Tel 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 30.09.2013
|
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. 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
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
SPE Mauritius Holdings Limited, |
|
4056712 |
|
SPE Mauritius investments Limited, |
|
4569289 |
|
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 |
|
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 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in the production and acquisition of
television programmes. |
||||
|
|
|
||||
|
Products : |
·
Satellite Television Programmes ·
Service Fees ·
Subscription Income |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
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 (Singapore) Pte. Limited ·
MSM Discovery Private Limited |
|
|
|
|
Other Related Parties : |
·
Bangla Entertainment Private Limited ·
Sony Music Entertainment India Private Limited ·
SPE Networks - India Inc. ·
Sony Corporation of Hong Kong Limited ·
Sony India Private Limited ·
SPE Singapore Holdings Inc. ·
SPE Films India Private Limited ·
South Asian Regional Investment Inc. ·
2Waytraffic NV ·
Axn Networks India Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
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.91.385
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 |
91.390 |
91.390 |
91.390 |
|
(b) Reserves & Surplus |
14379.600 |
13356.750 |
12036.450 |
|
(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) |
14470.990 |
13448.140 |
12127.840 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
125.160 |
126.130 |
127.550 |
|
(d) long-term provisions |
749.070 |
629.880 |
112.290 |
|
Total Non-current Liabilities (3) |
874.230 |
756.010 |
239.840 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
593.060 |
|
(b) Trade payables |
1036.870 |
2112.010 |
2288.120 |
|
(c) Other current
liabilities |
3415.800 |
2364.470 |
3863.970 |
|
(d) Short-term provisions |
15.020 |
51.450 |
16.610 |
|
Total Current Liabilities (4) |
4467.690 |
4527.930 |
6761.760 |
|
|
|
|
|
|
TOTAL |
19812.910 |
18732.080 |
19129.440 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
283.590 |
246.720 |
94.350 |
|
(ii) Intangible Assets |
50.970 |
29.620 |
20.490 |
|
(iii) Capital
work-in-progress |
59.270 |
85.390 |
116.240 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
16277.700 |
8155.200 |
8155.200 |
|
(c) Deferred tax assets (net) |
223.150 |
165.620 |
189.610 |
|
(d) Long-term Loan and Advances |
97.170 |
292.070 |
136.090 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
16991.850 |
8974.620 |
8711.980 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1.460 |
14.930 |
20.140 |
|
(c) Trade receivables |
739.870 |
6581.670 |
8060.620 |
|
(d) Cash and cash
equivalents |
1262.390 |
869.290 |
449.960 |
|
(e) Short-term loans and
advances |
759.260 |
2207.370 |
1803.090 |
|
(f) Other current assets |
58.080 |
84.200 |
83.650 |
|
Total Current Assets |
2821.060 |
9757.460 |
10417.460 |
|
|
|
|
|
|
TOTAL |
19812.910 |
18732.080 |
19129.440 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income (Turnover) |
9661.250 |
15210.540 |
11610.680 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1875.160 |
2974.480 |
889.710 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
117.080 |
86.290 |
80.380 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
1758.080 |
2888.190 |
809.330 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
735.230 |
1567.890 |
557.980 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
1022.850 |
1320.300 |
251.350 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3507.310 |
2187.011 |
1935.661 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4530.160 |
3507.311 |
2187.011 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
8985.360 |
13227.260 |
11322.639 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
111.93 |
144.48 |
27.50 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
18.20 |
18.99 |
6.97 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
54.05 |
27.97 |
7.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.21 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.63 |
2.15 |
1.54 |
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 |
91.390 |
91.390 |
91.390 |
|
Reserves & Surplus |
12036.450 |
13356.750 |
14379.600 |
|
Net
worth |
12127.840 |
13448.140 |
14470.990 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
593.060 |
0.000 |
0.000 |
|
Total
borrowings |
593.060 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.049 |
0.000 |
0.000 |
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 |
|
Income
(Turnover) |
11,610.680 |
15,210.540 |
9,661.250 |
|
|
|
31.005 |
(36.483) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Income
(Turnover) |
11,610.680 |
15,210.540 |
9,661.250 |
|
Profit |
251.350 |
1,320.300 |
1,022.850 |
|
|
2.16% |
8.68% |
10.59% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS 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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
No |
|
32] |
PAN 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 |
LITIGATION DETAILS
|
Case Details |
||||||||
|
Bench:- Bombay |
||||||||
|
Presentation Date:- |
29/07/2013 |
|||||||
|
Lodging No.:- |
ITXAL/1220/2013 |
Filing Date:- |
29/07/2013 |
Reg. No.:- |
ITXA/2057/2013 |
Reg. Date:- |
22/10/2013 |
|
|
|
||||||||
|
Petitioner:- |
COMMISSIONER OF INCOME TAX, CENTRAL – II, MUMBAI |
Respondent:- |
MULTI SCREEN MEDIA PRIVATE LIMITED |
|||||
|
Petn.Adv:- |
A R Malhotra (0) |
Resp. Adv.: |
PPDS LEGAL (0) |
|||||
|
District:- |
MUMBAI |
|||||||
|
|
||||||||
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|||||
|
Next Date:- |
19/09/2014 |
Stage:- |
|
|||||
|
Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
|||||||
|
|
|
|||||||
|
Act :- |
Income Tax Act, 1961 |
Under Section 260A |
||||||
CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Claims against the Company not acknowledge
as debts ** |
2537.660 |
2020.760 |
|
Custom Duty Matters |
136.920 |
1.080 |
|
Income Tax Matters |
1575.770 |
1365.400 |
|
Sales Tax Matters |
372.590 |
372.590 |
|
Total |
4622.940 |
3759.830 |
Notes:
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.
1,000 million raised by Saregama Private Limited on the Company
Balaji Telefilms
Private Limited and Others.
A claim of Rs.
1,000 million raised by Speak Asia Private Limited on the Company, MSM
Satellite Singapore Pte Limited, Hats Off Productions Private Limited and
Others.
NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS:
· Computer Software
· Leasehold Improvements
· Plant and Machinery
· Motor Vehicle
· Furniture and Fixture
· Office Equipment’s
· Computer
PRESS RELEASES:
SONY PICTURES ENTERTAINMENT APPOINTS MAN JIT SINGH PRESIDENT OF SONY
PICTURES HOME ENTERTAINMENT
N.P. SINGH NAMED CEO,
MULTI SCREEN MEDIA PRIVATE LIMITED
CULVER CITY, CALIF., JANUARY 6, 2014 - Sony Pictures Entertainment
today announced that Man Jit Singh has been named President of Sony Pictures
Home Entertainment (SPHE), reporting to Michael Lynton, CEO, Sony
Entertainment, Inc., and Amy Pascal, Co-Chairman, Sony Pictures Entertainment.
Man Jit,
who was previously Chief Executive Officer, Multi Screen Media Pvt. Ltd. (MSM),
the operating company that manages Sony Pictures Television’s TV networks in
India, will continue as Non-Executive Chairman at MSM while transitioning from
his role in the Television division to his new role in Home Entertainment.
N.P.
Singh, formerly Chief Operating Officer at MSM, has been appointed Chief
Executive Officer, managing Sony Pictures Television’s Indian TV networks. N.P.
will report to Andy Kaplan, President, Worldwide Networks, Sony Pictures
Television.
"Man
Jit is a savvy global executive with a long track record of success at Sony
Pictures, having built our Indian TV channels into high-performance,
high-margin businesses. I am confident in his vision for Sony Pictures Home
Entertainment and his ability to provide strong leadership for the division as
the marketplace continues to evolve," said Lynton.
Under Man
Jit, Sony Pictures Television’s Indian TV networks leveraged changing
technologies and consumer behaviors to grow into some of the most profitable
and highest-rated channels in the market.
At SPHE,
Man Jit will continue the studio’s focus on reducing overhead costs, while
growing high-margin businesses.
"As
the ways in which consumers experience our content continue to change and multiply,
our organization and its strategy for delivering content must evolve to meet
the demands of the market. I look
forward to building on the foundation of innovation and operational discipline
at SPHE to position this business for future growth," said Man Jit.
On N.P.
Singh’s appointment to CEO of MSM, Man Jit added, "NP and I have worked
closely together as equal partners these last five years and the success of the
company is largely due to his efforts. The time has come for him to lead the
company to the next level and I fully expect the innovations he brings as CEO
will ensure we have years of success ahead. As the Non-executive Chairman of
MSM, I look forward to supporting NP and will continue to remain involved with
the Indian television industry."
In his new
role at MSM, N.P. will continue to focus on developing original, local-language
programming and expanding the audience for MSM’s eight highly-profitable
channels across India and the more than 70 countries around the world where
they are viewed.
Man Jit
Singh has a strong background in technology, entertainment, and consumer
products, with over 20 years of experience in global operations. He has worked
in North America, Europe, Asia and Australia. Since 2009, he has overseen Sony
Pictures Television's Networks business in India, which includes SET, SAB, PIX,
AXN, MIX, SIX, LIV and MAX. Man Jit was previously Chairman of the Board of
Directors of MSM. He spent much of his early career in general management
consulting, and he held senior positions at firms including Sibson & Co.,
LLP in Los Angeles, The Cast Group AG in Zurich, Switzerland and Los Angeles,
and Cresap in Los Angeles. Man Jit began his career at Nestle India.
N. P.
Singh originally joined MSM in 1999 and has been Chief Operating Officer of MSM
since December 2004, overseeing day-to-day operations at the company’s highly
profitable TV channels and working closely with Man Jit on long-term strategies
for continued growth. Previously, Singh served as Chief Financial Officer. Before joining MSM, N.P. held
Chief Financial Officer roles at Spice Telecom and Modicorp, and was Controller
at Modi Xerox Limited, in addition to other positions.
Sony
Pictures Entertainment (SPE) is a subsidiary of Sony Entertainment Inc., a
subsidiary of Tokyo-based Sony Corporation. SPE's global operations encompass
motion picture production, acquisition and distribution; television production,
acquisition and distribution; television networks; digital content creation and
distribution; operation of studio facilities; and development of new
entertainment products, services and technologies.
SONY PICTURES TELEVISION TO INCREASE STAKE IN MULTI SCREEN MEDIA
MUMBAI, INDIA AND CULVER CITY, CA
(JUNE 14, 2012) - Sony
Pictures Television (SPT), an indirect wholly-owned subsidiary of Sony Pictures
Entertainment Inc., has signed an agreement to acquire approximately 32 percent
of the shares of Multi Screen Media Private Limited (MSM), which are owned by
Grandway Global Holdings Limited ("Grandway") and Atlas Equifin Private
Limited ("Atlas"). The agreement, subject to government approval,
will bring SPT's interest in MSM to a little over 94 percent. The closing for
this transaction is expected to take place by the end of December 2012.
"SPT
has enjoyed great success with our channels in India and this acquisition
further demonstrates our commitment to entertaining Indian audiences,"
said Andy Kaplan, president, worldwide networks, SPT. "We'd especially
like to thank Grandway and Atlas for their entrepreneurial spirit that helped
to get this venture off the ground 17 years ago."
MSM
operates television networks in India and its channels include Sony
Entertainment Television (SET), one of India's leading Hindi general
entertainment television channels; MAX, India's premium movies and special
events channel; SAB, a Hindi channel focusing on entertaining modern India;
PIX, a channel that airs Hollywood movie product; MIX, a dedicated music
channel; and the recently launched sports channel, SIX.
Under the
terms of the agreement for this acquisition, aggregate cash consideration of
USD271 million will be paid by SPT to Grandway and Atlas, subject to receipt of
any necessary government approval, with USD145 million expected to be paid by
SPT at the closing of the acquisition by the end of December 2012 and the
remaining USD126 million to be paid in three equal annual installments starting
from the fiscal year ending March 31, 2014. A substantial portion of the impact
from this acquisition has already been included in Sony Corporation's
consolidated financial forecasts for the fiscal year ending March 31, 2013 and
no material impact from this acquisition is anticipated on such forecasts.
ABOUT SONY PICTURES TELEVISION
Sony Pictures Television is one of the television industry's leading content
providers. It produces and distributes programming in every genre, including
series, telefilms, theatrical releases and family entertainment around the
world and for every platform: broadcast and cable television, first-run and
off-network syndication and digital distribution. In addition to one of the
industry's largest libraries of feature films and television shows, SPT boasts
a current program slate that includes the top-rated daytime dramas and game
shows, landmark off-network series, original animated series and critically
acclaimed primetime dramas, comedies and telefilms. Internationally, SPT
produces 6,000+ hours of programming annually in over 70 countries. SPT is a
leader in local language productions, some of which are coproduced with local
partners, and sells SPE-owned formats around the world. To better serve its
clients and partners worldwide, SPT maintains offices throughout the world,
including Argentina, Australia, Brazil, Canada, France, Germany, Hong Kong,
Hungary, India, Italy, Japan, Korea, Mexico, the Netherlands, the People's
Republic of China, Russia, Singapore, Spain, Venezuela and the United Kingdom.
SPT's worldwide television networks portfolio is a key strategy in SPE's
long-range commitment to the global marketplace, with 120 channel feeds, which
are available in 159 countries reaching more than 754 million households
worldwide. SPT also creates original content for and manages SPE's premium
video website, Crackle. Additionally, SPT owns Dutch entertainment company 2waytraffic,
production company Embassy Row and Sony Movie Channel, and is a part owner of
cable channel GSN, new 3D channel 3net, FEARnet, the premier horror/thriller
website and VOD service, and national media sales company ITN Networks, Inc.
SPT advertiser sales is one of the premiere national advertising sales
companies, handling the commercial inventory in SPT's syndicated series as well
as in all of SPE's digital businesses in the United States. SPT is a Sony
Pictures Entertainment company.
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.60.50 |
|
|
1 |
Rs.100.33 |
|
Euro |
1 |
Rs.79.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
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.