.
MIRA
INFORM REPORT
|
Report Date : |
28.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
BHARTI RETAIL LIMITED (w.e.f. 21.05.2009) |
|
|
|
|
Formerly Known
As : |
BHARTI RETAIL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Bharti Crescent, 1, Nelson Mandela Road, Vasant Kunj Phase-II, New
Delhi – 110070 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
07.02.2007 |
|
|
|
|
Com. Reg. No.: |
55-158953 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5328.060 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909DL2007PLC158953 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Retailer of variety of household and consumer products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a part of Bharti Group of companies. It is an established company having a moderate track record. There
appears huge accumulated losses recorded by the company. However, the company receives good support from its group
companies. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. In view of strong group the company can be considered for business
dealings with slight 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
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.
LOCATIONS
|
Registered Office : |
Bharti Crescent, 1, Nelson Mandela Road, Vasant Kunj Phase-II, New
Delhi – 110070, India |
|
Tel. No.: |
91- 124-4201885 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 28.06.2013
|
Name : |
Mr. Inderjit Walia |
|
Designation : |
Director |
|
Address : |
216A, Aralias DLF, Golflinks Sector – 42, Gurgaon – 122009, Haryana,
India |
|
Date of Birth/Age : |
17.05.1958 |
|
Date of Appointment : |
20.03.2008 |
|
DIN No.: |
01812849 |
|
|
|
|
Name : |
Mr. Devendra Khanna |
|
Designation : |
Director |
|
Address : |
Devi Sadan, Ground Floor, L1/5 Hauz Khas, Delhi – 110016, India |
|
Date of Birth/Age : |
14.07.1960 |
|
Date of Appointment : |
30.11.2012 |
|
DIN No.: |
01996768 |
|
|
|
|
Name : |
Mr. Mukesh Hassanand Bhavnani |
|
Designation : |
Director |
|
Address : |
C 294, 29th Floor Tower, C Belaire, Golf Course Road,
Gurgaon – 122011, Haryana, India |
|
Date of Birth/Age : |
17.02.1955 |
|
Date of Appointment : |
30.11.2012 |
|
DIN No.: |
03595080 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Vasistha |
|
Designation : |
Secretary |
|
Address : |
Flat No. 403, Tower B 1, Shivalik apartment, Sector – 1, IMT Manesar,
Gurgaon – 122050, Haryana, India |
|
Date of Birth/Age : |
24.07.1977 |
|
Date of Appointment : |
01.12.2010 |
|
PAN No.: |
ADTPV9024B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
Cedar Support Services Limited, India |
|
532805994 |
|
Gupta Narendra |
|
1 |
|
Mittal Bharti Sunil |
|
1 |
|
Mittal Bharti Rajan |
|
1 |
|
Walia Inderjit |
|
1 |
|
Manish Agarwal |
|
1 |
|
Devendra Khanna |
|
1 |
|
|
|
|
|
Total |
|
532806000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.06.2013
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Retailer of variety of household and consumer products. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· The Hongkong And Shangai Banking Corporation Limited, Birla Towers, 25, Barakhamba Road, New Delhi - 110001, Delhi, India ·
IDFC Limited, Krm Tower, 8th Floor, No. 1, Harrington
Road, Chetpet, Chennai - 600031, Tamil Nadu, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountants |
|
Address : |
Golf View Corporate, Tower B, Near DLF, Golf Course, Gurgaon-122002, Haryana, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Ultimate holding
company: |
· Bharti Enterprises (Holding) Private Limited [U74140DL2010PTC197775] · Bharti Ventures Limited [U72300DL2005PLC142756] |
|
|
|
|
Holding Company: |
· Cedar Support Services Limited [U52599DL2007PLC159150] |
|
|
·
|
|
Fellow Subsidiary: |
· Bharti Enterprises Limited [U74993DL2007PLC163757] |
|
|
·
|
|
Enterprises over
which, controlling parties owns directly or indirectly, an interest in the voting
power that gives them control or significant influence over the enterprise,
is able to exercise significant influence over the Company Limited: |
· Bharti Airtel Limited [L74899DL1995PLC070609] · Bharti Airtel Services Limited [U64201DL1997PLC091001] · Bharti Wal-Mart Private Limited [U51909DL2007PTC167118] · Centum Learning Limited [U74120DL2007PLC158956] · Bharti AXA General Insurance Company Limited [U66030KA2007PLC043362] |
CAPITAL STRUCTURE
As on 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000000 |
Equity Shares |
Rs.10/- each |
Rs.8000.0000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
532806000 |
Equity Shares |
Rs.10/- each |
Rs.5328.060
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
5328.060 |
5131.260 |
|
(b) Reserves & Surplus |
|
(15224.374) |
(9843.408) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
196.800 |
|
Total Shareholders’
Funds (1) + (2) |
|
(9896.314) |
(4515.348) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
3262.540 |
3490.040 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
1278.719 |
663.804 |
|
(d) long-term provisions |
|
41.667 |
35.594 |
|
Total Non-current
Liabilities (3) |
|
4582.926 |
4189.438 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
3007.855 |
250.000 |
|
(b) Trade payables |
|
6659.261 |
3751.498 |
|
(c) Other current liabilities |
|
477.408 |
430.081 |
|
(d) Short-term provisions |
|
125.929 |
124.868 |
|
Total Current
Liabilities (4) |
|
10270.453 |
4556.447 |
|
|
|
|
|
|
TOTAL |
|
4957.065 |
4230.537 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1839.434 |
1520.858 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
389.941 |
308.098 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
430.234 |
440.162 |
|
(e) Other Non-current assets |
|
14.130 |
10.529 |
|
Total Non-Current
Assets |
|
2673.739 |
2279.647 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1564.088 |
1531.297 |
|
(c) Trade receivables |
|
5.430 |
6.236 |
|
(d) Cash and cash equivalents |
|
373.210 |
183.432 |
|
(e) Short-term loans and advances |
|
340.567 |
229.925 |
|
(f) Other current assets |
|
0.031 |
0.000 |
|
Total Current
Assets |
|
2283.326 |
1950.890 |
|
|
|
|
|
|
TOTAL |
|
4957.065 |
4230.537 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1756.520 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(5900.187) |
|
|
NETWORTH |
|
|
(4143.667) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
5302.280 |
|
|
TOTAL BORROWING |
|
|
5302.280 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1158.613 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1064.954 |
|
|
Capital work-in-progress |
|
|
19.725 |
|
|
Expenditure pending allocation |
|
|
88.972 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.034 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
704.444
|
|
|
Sundry Debtors |
|
|
4.735
|
|
|
Cash & Bank Balances |
|
|
137.337
|
|
|
Other Current Assets |
|
|
0.376
|
|
|
Loans & Advances |
|
|
269.799
|
|
Total
Current Assets |
|
|
1116.691
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
676.879
|
|
|
Other Current Liabilities |
|
|
337.328
|
|
|
Provisions |
|
|
117.556
|
|
Total
Current Liabilities |
|
|
1131.763
|
|
|
Net Current Assets |
|
|
(15.072)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1158.613 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
15782.950 |
10195.929 |
4693.460 |
|
|
|
Other Income |
30.576 |
18.020 |
9.255 |
|
|
|
TOTAL (A) |
15813.526 |
10213.949 |
4702.715 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
15311.361 |
|
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(28.818) |
(826.853) |
|
|
|
|
Employee benefit expense |
1211.671 |
1056.213 |
|
|
|
|
Other expenses |
4152.244 |
2999.752 |
|
|
|
|
TOTAL (B) |
20646.458 |
13917.932 |
7201.486 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(4832.932) |
(3703.983) |
(2498.771) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
182.479 |
0.273 |
21.931 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(5015.411) |
(3704.256) |
(2520.702) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
365.555 |
238.964 |
146.888 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(5380.966) |
(3943.220) |
(2667.590) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(5380.966) |
(3943.220) |
(2667.590) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(10.18) |
(10.33) |
(29.08) |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
(34.03) |
(38.61) |
(56.72) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(34.09) |
(38.67) |
(56.84) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(117.82) |
(100.53) |
(122.27) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.54 |
0.87 |
0.64 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(0.63) |
(0.83) |
(1.28) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.22 |
0.43 |
0.99 |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
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 |
LITIGATION DETAILS
IN THE HIGH COURT OF DELHI
AT NEW DELHI
CS(OS) 2862/2011
M/S COLLAGE ESTATES
PRIVATE LIMITED..... Plaintiff
Through: Mr. Atul Jain,
Adv.
versus
M/S BHARTI RETAIL LIMITED. Defendant
Through: Mr. Aviral
Tiwari and
Mr. Ankur Gosain, Advs.
CORAM:
HON'BLE MR. JUSTICE RAJIV SAHAI ENDLAW
ORDER
14.01.2013
1. The suit is ripe for framing of issues.
2. Though the defendant in its written statement has taken an
objection to the territorial jurisdiction and an issue thereon is
also proposed by the defendant but the counsel for the defendant
fairly states that he is not pressing therefor.
3. The defendant has also taken a plea that the plaint is not
properly verified. The counsel for the defendant states that in the
verification, the name of the person verifying on behalf of the
plaintiff is not stated.
CS(OS) 2862/2011 page 1 of 3
4. However in para 1 of the plaint it is stated that the suit is
being instituted on behalf of the plaintiff by Mr. S.K. Arora. For this reason the said
objection is not found to be material inviting an issue.
5. On the pleadings of the parties, the following issues are
framed:
i. Whether the defendant has breached the agreement dated 3rd
June, 2008 with the plaintiff and if so whether the plaintiff is
entitled to recovery of the sum of Rs.1,10,00,000/- as claimed in the
plaint on account of such breach or any other amount? OPP
ii. If the issue no.1 is decided in favour of the plaintiff, whether the plaintiff is entitled to any interest, if so on what amount, at what rate and for what period? OPP
iii. Whether there was no concluded contract between the parties?
OPD.
iv. Relief.
6. No other issue arises or is pressed.
7. Parties to file list of witnesses within 15 days.
8. The plaintiff to file affidavits by way of examination-in-chief
of all its witnesses within eight weeks, as sought.
CS(OS) 2862/2011 page 2 of 3
9. List before the Joint Registrar on 13th March, 2013 for fixing the dates of trial.
RAJIV SAHAI ENDLAW, J
JANUARY 14, 2013
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.12.2012 |
As on 31.12.2011 |
|
LONG-TERM
BORROWINGS |
|
|
|
Rupee term loans from others |
3262.540 |
3490.040 |
|
Working capital loans from banks |
1600.000 |
250.000 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
500.000 |
0.000 |
|
Deposits |
400.000 |
0.000 |
|
Loans and advances from related parties |
500.000 |
0.000 |
|
|
|
|
|
Total |
6262.540 |
3740.040 |
OPERATIONS
The Company has consolidated its presence by rolling out another 34 easy day Super Market stores and 6 easyday Market Hypermarket stores in the various States. Your company is now operating 192 easyday Supermarket stores and is operating 22 easyday Market.
During the year the Company has made a total revenue of Rs. 15813.526 Millions against expenditure of Rs. 21194.492 Millions as compared to last year total revenue of Rs.10213.949 Millions against expenditure of Rs. 14157.170 Millions. The total accumulated loss carried to the Balance Sheet as at 31.12.2012 is Rs. 15224.374 Millions.
Corporate information
Subject is a public Company domiciled in India and incorporated under the provisions of Companies Act,1956 on February 7, 2007.The Company is a wholly owned subsidiary of Cedar Support Services Limited for business of retailing a variety of household and consumer products through departmental store facilities under various formats.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10452298 |
24/09/2013 |
4,000,000,000.00 |
IDFC LIMITED |
KRM TOWER, 8TH
FLOOR, NO. 1, HARRINGTON ROAD, CHETPET, CHENNAI, TAMIL NADU - 600031, INDIA |
B86364031 |
|
2 |
10341589 |
04/03/2013 * |
2,500,000,000.00 |
THE HONGKONG AND SHANGAI BANKING
CORPORATION LIMITED |
BIRLA TOWERS, 25,
BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B72306285 |
Note: * Date of charge modification
FIXED ASSETS
Tangible assets
· Plant and equipment
· Furniture and fixtures
· Office equipment
· Computer equipments
· Leasehold improvements
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.62.71 |
|
|
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.85.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT/ VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.