MIRA
INFORM REPORT
|
Report Date : |
03.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
TLG INDIA PRIVATE LIMITED HANMER MSL COMMUNICATIONS PRIVATE LIMITED AMALGAMATED WITH TLG INDIA
PRIVATE LIMITED |
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Registered
Office : |
Big |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
15.05.1972 |
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Com. Reg. No.: |
11-015798 |
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Capital
Investment / Paid-up Capital : |
Rs30.065 Millions |
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CIN No.: [Company Identification
No.] |
U74300MH1972FTC015798 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing of Advertising and Communication Services. |
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
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 |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. There appears huge accumulated losses recorded by the company, which
has eroded the net worth of the company. Profitability of the company seems
to be under pressure. Business is active. Payment terms are slow and delayed. The company can be considered for business dealings on 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
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million estimated
losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
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 PARTED BY
|
Name : |
Mr. Kapil |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-66634444 |
|
Date : |
02.01.2014 |
LOCATIONS
|
Registered Office : |
Big Appledr Shirodkar Road, Parel, Mumbai – 400012, Maharashtra, India
|
|
Tel. No.: |
91-22-56634444 |
|
Fax No.: |
91-22-24173825 |
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E-Mail : |
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|
Location : |
Owned |
|
|
|
|
Branch Office : |
4th Floor, B Wing, Krishna, Opposite Devashish School, Off S G
Highway, Bodakdev, Ahmedabad – 380054, Gujarat, India |
|
|
|
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Correspondence Office 1 : |
3rd Floor, C Wing, Sahar Classique, Sahar Road,
Andheri (East), Mumbai – 400099,
Maharashtra, India |
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|
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Correspondence Office 2 : |
5th Floor, Urmi Estate, Tower A, 95, Ganpatrao Kadam Marg,
Lower Parel, West Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-30410200 |
|
Fax No.: |
91-22-30410210 |
DIRECTORS
As on 17.06.2013
|
Name : |
Mr. Arvind Rajkishore Sharma |
|
Designation : |
Whole-time director |
|
Address : |
11, Oceanview Annexe, 100 Bhulabhai Desai Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
10.06.1956 |
|
Date of Appointment : |
03.05.1988 |
|
DIN No.: |
01229072 |
|
|
|
|
Name : |
Mr. Nitish Mukherjee |
|
Designation : |
Whole-time director |
|
Address : |
DL 06 061 222912 269, Tagore Park, New Delhi – 110009, India |
|
Date of Birth/Age : |
09.05.1958 |
|
Date of Appointment : |
01.11.2000 |
|
DIN No.: |
00561390 |
|
|
|
|
Name : |
Mr. Jaroslaw Piotr Ziebinski |
|
Designation : |
Director |
|
Address : |
38 Mount Echo Park, Singapore 248792 |
|
Date of Birth/Age : |
08.06.1962 |
|
Date of Appointment : |
25.06.2009 |
|
DIN No.: |
02710385 |
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|
|
|
Name : |
Mr. Thomas Lloyd Bernardin |
|
Designation : |
Director |
|
Address : |
614 Spruce Ave Lake Forest IL, United State - 60045 |
|
Date of Birth/Age : |
23.09.1953 |
|
Date of Appointment : |
19.07.2010 |
|
DIN No.: |
03546513 |
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|
|
|
Name : |
Mr. Manjit Singh Sandhu |
|
Designation : |
Director |
|
Address : |
630 Upper Thomson Road, # 02-70, Singapore - 787132 |
|
Date of Birth/Age : |
23.09.1953 |
|
Date of Appointment : |
29.03.2012 |
|
DIN No.: |
05280786 |
KEY EXECUTIVES
|
Name : |
Mr. Kapil |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
Publicis Groupe Holdings BV, Netherland |
|
300651 |
|
Arebu Holdings BV, Netherland |
|
1 |
|
|
|
|
|
Total |
|
300652 |
As on 31.07.2013
|
Names of Allottees |
|
No. of Shares |
|
Publicis Groupe Holdings BV, Netherland |
|
99999 |
|
Arebu Holdings BV, Netherland |
|
1 |
|
|
|
|
|
Total |
|
100000 |
Equity Share Break up (Percentage of Total Equity)
As on 17.06.2013
|
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 : |
Providing of Advertising and Communication Services. |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
60 (Approximately) |
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Bankers : |
BNP Paribas,
French Bank Building, 62 ,Homji Street, Fort, , Mumbai - 400001, Maharashtra, India Tel No.: 91-22-665013600 |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
S.R. Batliboi
and Associates LLP Chartered Accountants |
|
Address : |
The Ruby, 12th
Floor, Zone A, 29 Senapati Bapat Marg, Dadar West, Mumbai - 400
028,Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFS3421N |
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Holding company: |
·
Publicis Groupe Holdings BV, |
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Fellow Indian Subsidiaries: |
·
Brandmap Communication Private Limited ·
Hanmer MSL Communications Private Limited ·
Indigo Systems and Technology Consulting (India)
Private Limited ·
Publicis Communication Private Limited ·
Resultrix Media Private Limited (from 29th
Oct,2012) ·
Saatchi and Saatchi Private Limited ·
Solutions Integrated Services Private Limited ·
Twenty Twenty Media Private Limited ·
Twenty Twenty Webtech Private Limited ·
Watermelon Health Care Communications Private
Limited (from 09th May,2011) ·
Orchard Advertising Private Limited CIN: U74300MH1981FTC024111 |
|
|
|
|
Fellow International Subsidiaries: |
·
Beacon Communications k.k., Japan ·
Business Compass FZ-LLC ·
Denuo Limited –Zenith Optimedia,Hongkong ·
Hemisphere – Leo Burnett Inc, Philippines ·
Kitchen Reklambyra As, Norway ·
LB Shangai Advertising Company Limited, Beijing ·
Leo Burnett Company Inc, Chicago ·
Leo Burnett Company Limited, Canada ·
Leo Burnett Global Centre ·
Leo Burnett Limited, Argentina ·
Leo Burnett Limited, Hong Kong ·
Leo Burnett Limited, London ·
Leo Burnett Limited, Malaysia ·
Leo Burnett Limited, Philippines ·
Leo Burnett Limited, Singapore ·
Leo Burnett Limited, Thailand ·
Leo Burnett Limited, USA Inc ·
Leo Burnett USA Brand Advertising Global, USA ·
Leo Burnett M and T Vietnam ·
MMS Communications Singapore Pte. Limited ·
Ninah Consulting Limited,USA ·
Performics, Singapore ·
PG Lion Re:Sources Australia Pty Limited, Australia ·
Phone Valley, France ·
PT.Star Reachers, Indonesia ·
Publicis Group Services, France ·
Resources, USA ·
Resources, France ·
Star Reacher
Advertising Sdn Bhd, Malaysia ·
Star Reacher Group Company Limited, Thailand ·
Starcom Dubai, United Arab Emirates ·
Starcom Guangzhou, China ·
Starcom Mediavest Group FZ LLC, UAE ·
Starcom Mediavest Group, London ·
Starcom, Chicago ·
Starcom, Hong Kong ·
Starcom, Malasiya ·
Starcom, Singapore ·
Starcom, Asia Pacific ·
Starcom Mediawest Group Inc, USA ·
Starcom Mediawest Group Inc,Srilanka ·
Starcom Mediavest Group Medya ·
Planama Satinalma ·
Danismanlik Ve PAZ AS,Turkey ·
VivaKi (Malaysia) Sdn. Bhd ·
Vivaki Inc, USA ·
Vivaki Performance ·
Zenith Optimedia, France ·
Zenith Optimedia International Limited, United
Kingdom ·
Zenith Optimedia, Australia ·
Zenith Optimedia, Belgium ·
Zenith Optimedia, France ·
Zenith Optimedia, Singapore ·
Zenith Optimedia, Hong Kong |
CAPITAL STRUCTURE
As on 17.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
410000 |
Equity Shares |
Rs.100/- each |
Rs. 41.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400652 |
Equity Shares |
Rs.100/- each |
Rs. 40.065
Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.100/- each |
Rs. 40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300652 |
Equity Shares |
Rs.100/- each |
Rs. 30.065
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 |
30.065 |
30.065 |
0.965 |
|
(b) Reserves & Surplus |
(200.457) |
(219.961) |
(317.613) |
|
(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) |
(170.392) |
(189.896) |
(316.648) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
4.042 |
9.435 |
|
(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 |
35.750 |
32.382 |
38.173 |
|
Total Non-current Liabilities (3) |
35.750 |
36.424 |
47.608 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
471.544 |
1170.807 |
1025.408 |
|
(b) Trade payables |
4190.455 |
3954.614 |
2583.974 |
|
(c) Other current
liabilities |
2492.448 |
1398.281 |
2278.136 |
|
(d) Short-term provisions |
70.838 |
61.314 |
42.576 |
|
Total Current Liabilities (4) |
7225.285 |
6585.016 |
5930.094 |
|
|
|
|
|
|
TOTAL |
7090.643 |
6431.544 |
5661.054 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
118.439 |
53.645 |
47.056 |
|
(ii) Intangible Assets |
55.401 |
10.170 |
20.074 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
17.868 |
8.213 |
|
(b) Non-current Investments |
0.200 |
0.200 |
0.200 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
47.801 |
|
(d) Long-term Loan and Advances |
473.915 |
536.229 |
628.459 |
|
(e) Other Non-current assets |
0.000 |
1.603 |
0.000 |
|
Total Non-Current Assets |
647.955 |
619.715 |
751.803 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.200 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
3759.597 |
4140.827 |
2468.672 |
|
(d) Cash and cash
equivalents |
36.440 |
65.267 |
37.842 |
|
(e) Short-term loans and
advances |
425.516 |
331.039 |
132.959 |
|
(f) Other current assets |
2221.135 |
1274.696 |
2269.578 |
|
Total Current Assets |
6442.688 |
5811.829 |
4909.251 |
|
|
|
|
|
|
TOTAL |
7090.643 |
6431.544 |
5661.054 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
1990.180 |
1625.255 |
1668.502 |
|
|
|
Other Income |
275.841 |
212.662 |
228.532 |
|
|
|
TOTAL |
2266.021 |
1837.917 |
1897.034 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2246.277 |
1971.536 |
2075.227 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
19.744 |
(133.619) |
(178.193) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.241 |
59.729 |
(6.346) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
19.503 |
(193.348) |
(171.847) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
64.87 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.86
|
(7.27) |
(9.06) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.99
|
(8.22) |
(10.68) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.28
|
(2.08) |
(0.03) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.12)
|
(0.70) |
(0.56) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(2.77)
|
(6.19) |
(3.27) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89
|
0.88 |
0.83 |
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 |
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
BUSINESS OVERVIEW:
The Company is principally
engaged in providing a range of Advertising and Communication services which
includes traditional advertising Services (also called Creative), Media
Services and Specialised Marketing Services by acting as full service agency.
They operate under the brands primarily known as LeoBurnett, Starcom, Zenith
Optimedia, Digitas, Vivaki Exchange and Liquid Thread.
During the year
the Company has suffered a loss which is mainly driven by provision for
doubtful debts made based on conservative accounting practices and significant
increase in finance cost of borrowings.
Company’s
continued effort in generating value to their Clients with most powerful
creative advertisements and focusing on driving Return on Investment, managing
best deals, generating powerful Research, effective usage of Media funds etc
ensured that the company continues to maximise client satisfaction.
Leo Burnett has
been well placed in the advertising fraternity by gathering 35 prominent awards
(including 3 gold) for distinctive work done by the agency at the Goa Fest
2012.
The Company
continues to remain focused in targeting growth industries and focusing on
digital media, and thus reap the benefits in the coming years, while remained
focused developing and retaining quality talent.
During the year,
the company added substantial new business to its existing client portfolio by
winning the accounts of Honda Siel Cars, India Bulls, GlaxosmithKline,
Jaiprakash Associates and so on.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
140.151 |
1164.873 |
|
Working capital loans from banks |
330.000 |
0.000 |
|
Other loans and advances, others |
1.393 |
5.934 |
|
|
|
|
|
Total |
471.544 |
1170.807 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90188810 |
10/06/2003 * |
20,000,000.00 |
BANQUE NATIONALE DE PARIS BANK |
62; HOMJI
STREET, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
2 |
90188515 |
18/01/1994 |
10,000,000.00 |
BANQUE NATIONALE DE PARIS BANK |
62; HOMJI STREET,
MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
3 |
90187370 |
25/02/1991 * |
1,000,000.00 |
BANK OF INDIA |
CUMBALLA HILL
BRANCH, NS PATKAR MARG, MUMBAI, MAHARASHTRA - 400036, INDIA |
- |
|
4 |
90188234 |
26/08/1986 |
1,000,000.00 |
BANK OF INDIA |
CUMBALLA HILL
BRANCH, NS PATKAR MARG, MUMBAI, MAHARASHTRA - 400036, INDIA |
- |
|
5 |
90188117 |
01/10/1982 |
500,000.00 |
BANK OF INDIA |
CUMBALLA HILL
BRANCH, NS PATKAR MARG, MUMBAI, MAHARASHTRA - 400036, INDIA |
- |
|
6 |
90188062 |
20/04/1979 |
550,000.00 |
BANK OF INDIA |
DUROW BAUG
BRANCH, COLABAD CUSWAY, MUMBAI, MAHARASHTRA - 400039, INDIA |
- |
* Date of charge modification
FIXED ASSETS
Tangible assets
·
Furniture and fixtures
·
Office equipment
·
Vehicles
·
Computer equipments
·
Leasehold improvements
Intangible assets
·
Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.90 |
|
|
1 |
Rs.102.74 |
|
Euro |
1 |
Rs.85.16 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
1 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
-- |
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--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 |
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 |
|
11 |
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.