MIRA INFORM REPORT
|
Report Date : |
03.03.2014 |
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 |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
18.09.1995 |
|
|
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Com. Reg. No.: |
11-111487 |
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Capital
Investment / Paid-up Capital : |
Rs.91.390
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92100MH1995PTC111487 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS19106D |
|
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PAN No.: [Permanent Account No.] |
AABCS1728D |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is primarily engaged in the production and acquisition of
television programmes. |
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|
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 |
|
Maximum Credit Limit : |
USD 57883900 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated on September 18, 1995 as a Private Limited
Company under the name “Set India Private Limited”. Later on November 21,
2007 the name of the company was changed to its present name. The management has witnessed a dip in its revenue as well as net
profitability during 2013, however reported a decent profit margin. The company possesses a favourable financial profile marked by strong
networth along with the fact that there are no external borrowings 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 promotes, 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
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as compared
to with a year earlier. The National Capital Region has a one-fourth share
in total jobs created, according to a study by industry lobby group Assochem,
Banks, real estate, automobile and telecommunications sectors are showing a
rise of job creation. $ 805 mn investments by venture capital firms in India
during 2013, registering a drop of about 18 % over the previous year. The
Information Technology and IT-Enabled Services Industry retained its
status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
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 DECLINED
Management non co-operative [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 / SHAREHOLDING PATTERN
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 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in the production and acquisition of
television programmes. |
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Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
|
|
|
|
Bankers : |
Not Available |
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|
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|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400025,
Maharashtra, India |
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PAN No: |
AAEFP3641G |
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Subsidiaries : |
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Other Related Parties : |
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CAPITAL STRUCTURE
AS ON 31.03.2013
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 |
|
|
|
|
|
|
|
TOTAL |
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 |
|
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 |
1.55
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
91.390 |
91.390 |
91.390 |
|
Reserves & Surplus |
12036.450 |
13356.750 |
14379.600 |
|
Net
worth |
12,127.840 |
13,448.140 |
14,470.990 |
|
|
|
|
|
|
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 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Income (Turnover) |
11610.680 |
15210.540 |
9661.250 |
|
|
|
31.005 |
(36.483) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Income (Turnover) |
11610.680 |
15210.540 |
9661.250 |
|
Profit |
251.350 |
1320.300 |
1022.850 |
|
|
2.16% |
8.68% |
10.59% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY OF
LONG TERM BORROWINGS DETAIL: 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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
|
CASE DETAILS BENCH: BOMBAY PRESENTATION DATE: 25/04/2013 LODGING NO.:
SL/363/2013
FILING DATE: 25/04/2013 REG. NO.:
S/373/2013
REG. DATE: 10/05/2013
|
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.
FIXED ASSETS:
- Computer Software
- Leasehold Improvements
- Plant and Machinery
- Motor Vehicle
- Furniture and Fixture
- Office Equipments
- Computer
PRESS RELEASES:
SONY PICTURES ENTERTAINMENT APPOINTS MAN JIT SINGH PRESIDENT OF SONY
PICTURES HOME ENTERTAINMENT
N.P. SINGH NAMED CEO,
MULTI SCREEN MEDIA PVT. LTD.
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 (www.sonypicturestelevision.com) 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.62.07 |
|
|
1 |
Rs.103.61 |
|
Euro |
1 |
Rs.85.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
|
--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.