MIRA INFORM REPORT
|
Report Date : |
03.06.2014 |
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 : |
India |
|
|
|
|
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 : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The management has failed to file its financials record with
government department for the year 2013. As per available financial record of the company has incurred huge
accumulated losses, which has eroded the net worth of the company. Liquidity
position 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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 OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief information
officers at gathering in Bangalore in April to meet Indian startups at an event
called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED BY
|
Name : |
Mr. Tushar Gupta |
|
Contact No.: |
91-8800244426 |
|
Date : |
28.05.2014 |
LOCATIONS
|
Registered Office : |
Bharti Crescent, 1, Nelson Mandela Road, Vasant Kunj Phase-II, New
Delhi – 110070, India |
|
Tel. No.: |
91- 124-4201885 |
|
Mobile No.: |
91-8800244426 (Mr. Tushar Gupta) |
|
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. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
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: |
[U74140DL2010PTC197775]
|
|
|
|
|
Holding Company: |
|
|
|
|
|
Fellow Subsidiary: |
|
|
|
|
|
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: |
[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 |
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
5131.260 |
5328.060 |
|
Reserves & Surplus |
(9843.408) |
(15224.374) |
|
Net
worth |
(4712.148) |
(9896.314) |
|
|
|
|
|
long-term borrowings |
3490.040 |
3262.540 |
|
Short term borrowings |
250.000 |
3007.855 |
|
Total
borrowings |
3740.040 |
6270.395 |
|
Debt/Equity
ratio |
(0.794) |
(0.634) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
4693.460 |
10195.929 |
15782.950 |
|
|
|
117.237 |
54.797 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
4693.460 |
10195.929 |
15782.950 |
|
Profit |
(2667.590) |
(3943.220) |
(5380.966) |
|
|
(56.84%) |
(38.67%) |
(34.09%)ss |
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 |
No |
|
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) 828/2013
s
RELIANCE FRESH LIMITED ..... Plaintiff
Through: Mr. Somiral Sahrma, Advocate
versus
BHARTI RETAIL LIMITED and ANR ..... Defendant
Through: Ms. Farida Satarwala, Advocate for D-1
CORAM:
DR. NEERA BHARIHOKE (DHJS), JOINT REGISTRAR (JUDICIAL)
O R D E R
21.05.2014
IA No. 13779/2013 (under Order XII Rule 6 CPC and under Section 52 and 53 of the Trademarks Act by defendant no.1)
Pleadings are complete.
IA No. 4857/2014 (under Order VI Rule 17 CPC by plaintiff)
Learned counsel for defendant no.1 submits that she has filed the reply. However, the same is not on record, so she shall contact the Registry and get the same placed on record. Rejoinder if any be filed by 31.05.2014.
Defendant no.2 has not been served till date. However, learned counsel for the plaintiff submits that he has filed an amendment application for deletion of defendant no.2 in view of the fact that defendant no.2 has amalgamated with the plaintiff.
The matter be placed before the Hon?ble Court for further directions on 19.08.2014.
DR. NEERA BHARIHOKE (DHJS)
JOINT REGISTRAR (JUDICIAL)
MAY 21, 2014
hk
$ 12
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.59.14 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.80.63 |
INFORMATION DETAILS
|
ssInformation Gathered
by : |
SUV |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
12 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.