MIRA
INFORM REPORT
|
Report Date : |
13.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
MIDDAY INFOMEDIA LIMITED |
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Registered
Office : |
Peninsula Centre, |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
16.01.2008 |
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Com. Reg. No.: |
11-177808 |
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Capital Investment
/ Paid-up Capital : |
Rs.198.703 Millions |
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CIN No.: [Company Identification
No.] |
U22130MH2008PLC177808 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM33902B |
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PAN No.: [Permanent Account No.] |
AAFCM4778H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged primarily in printing and publication of Newspaper.
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1664000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Exist |
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Comments : |
Subject is a 100% subsidiary of Jagran Prakashan Limited. It is a well-established and reputed company having good track record.
It will maintain its stable credit risk profile, backed by the business and
financial support of its parent and the brand strength of its dailies. The company has incurred huge losses for past two years. However,
trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered normal 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
State-run banks hired nearly 300000
personnel including more than 94000 officers in the last four years, according
to the Indian Banks Association. A study by trade lobby Assocham in September
2013 indicated that banks would need 800000 people in the next six years. It
estimated that state-run lenders alone would hire 50000 people in 2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office
locations. London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = AA- |
|
Rating Explanation |
Have high degree of safety and carry very
low credit risk |
|
Date |
09.01.2014 |
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 : |
Madam Rajashri |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-67017171 |
|
Date : |
11.03.2014 |
LOCATIONS
|
Registered Office : |
Peninsula Centre, |
|
Tel. No.: |
91-22-67017171/24197171 |
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Fax No.: |
91-22-24141919/24150009 |
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E-Mail : |
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Website : |
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Press : |
Plot No. R-847/3, T.T.C. Industrial Area, Rabale, Navi Mumbai, Maharashtra, India |
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Branch Office : |
Located At: · Delhi · Bangalore · Pune ·
Goa · Chennai |
DIRECTORS
As on 11.07.2013
|
Name : |
Mr. Tarique Khalid Ansari |
|
Designation : |
Director |
|
Address : |
103/A, Cumballa Crest, |
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Date of Birth/Age : |
11.06.1961 |
|
Date of Appointment : |
16.01.2008 |
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DIN No.: |
00101820 |
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|
Name : |
Mr. Sanjay Narendra Mohan Gupta |
|
Designation : |
Director |
|
Address : |
C-26, Friends Colony, East New Delhi - 110 065, India |
|
Date of Birth/Age : |
20.12.1962 |
|
Date of Appointment : |
31.03.2011 |
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DIN No.: |
00028734 |
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|
Name : |
Mr. Shailesh Mahendra Mohan Gupta |
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Designation : |
Director |
|
Address : |
Puran Niwas, 7/51, Tilak Nagar, |
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Date of Birth/Age : |
07.04.1969 |
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Date of Appointment : |
31.03.2011 |
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DIN No.: |
00192466 |
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Name : |
Mr. Amit Mahendra Kumar Dixit |
|
Designation : |
Director |
|
Address : |
Thakur Nivas, Flat No. 21, 173 Jamshedji Tata Road,Churchgate, Mumbai
– 400 020, Maharashtra, India |
|
Date of Birth/Age : |
26.01.1973 |
|
Date of Appointment : |
31.03.2011 |
|
DIN No.: |
01798942 |
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|
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Name : |
Mr. Vikas Joshi |
|
Designation : |
Managing Director |
|
Address : |
129/4556, Tribhuvan Co-operative
Hosing Society, New Tilak Nagar, Next to Railway Station, Chembur,
Mumbai - 400089, Maharashtra, India |
|
Date of Birth/Age : |
24.011.1987 |
|
Date of Appointment : |
21.05.2013 |
|
DIN No.: |
06619579 |
KEY EXECUTIVES
|
Name : |
Pranali Parekh |
|
Designation : |
Secreatry |
|
Address : |
D/501, Vasant Aradhana, Mahavir Nagar, Kandivali (West), Mumbai –
400067, Maharashtra, India |
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Date of Birth/Age : |
18.11.1987 |
|
Date of Appointment : |
22.04.2013 |
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PAN No.: |
AZGPP7574B |
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|
Name : |
Mr. Manish Galrani |
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Designation : |
Accounts Department |
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|
Name : |
Madam Rajashri |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS
As on 11.07.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
Jagran Prakashan Limited, India |
|
9519516 |
|
Sanjay Narendra Mohan Gupta |
|
1 |
|
Shailesh Mahendra Mohan Gupta |
|
1 |
|
R.K. Sawan Ram Agarwal |
|
1 |
|
Rajeshri Jaywant Bolaikar |
|
1 |
|
Ferari Investments and Trading Company Private Limited, |
|
350805 |
|
Manish Gupta |
|
1 |
|
Vikas Joshi |
|
1 |
|
Total |
|
9870327 |
|
Names of Preferences Shareholders |
|
No. of Shares |
|
Ferari Investments and Trading Company Private Limited, |
|
10000000 |
|
Total |
|
10000000 |
Equity Share Break up (Percentage of Total Equity)
As on 11.07.2013
|
Category |
Percentage |
|
Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged primarily in printing and publication of Newspaper.
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Products : |
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PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
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|
Newspaper |
No.
of copies in Lakhs |
0.80 |
744.24 |
NOTES:
a)
Actual production of newspaper includes 7.370
Millions (Previous year: Rs.7.794 Millions) copies for the distribution,
advertisement promotion, voucher files and unsold copies.
b)
The Company does not have opening and closing of
finished goods, hence disclosures relating thereto are not applicable.
c)
Turnover with respect to Advertisements comprises
revenue from selling of advertising space. The sale of such advertisement space
cannot be expressed in any generic unit; hence it is not possible to give the
quantitative details of turnover.
d)
Turnover with respect to other Operating Activities
comprises revenue from Job Work, and Content Syndication which cannot be
expressed in terms of quantity; hence it is not possible to give quantitative
details
e)
Previous year figures are in brackets.
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
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Bankers : |
·
Central Bank of India, Industrial Finance Branch,
Nariman Point, Mumbai – 400021, Maharashtra, India ·
Bank of Baroda, Tardeo Branch, Everest Building,
156-D, J. Dadajee Road, Tardeo, Mumbai-400034, Maharashtra, India |
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Facilities : |
Nature of security Secured by
hypothecation of Stocks, Book Debts, Plant and Machinery and other Fixed Assets
of the Company. Also secured by charge on fixed assets in the name of the
Company i.e. plant and machineries, equipments, vehicles, etc. (both existing
and proposed) and equitable mortgage of Factory Land and Building situated on
Plot No. R-847/3, TTC Industrial Area, Rabale, Navi Mumbai. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Price Waterhouse Chartered Accountant |
|
Address : |
Building 8, 7th and 8th floor, Tower B, DLF Cyber City, Gurgaon-122002, Haryana, India |
|
PAN No: |
AAEFP3641G |
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Holding Company: |
·
Jagran Prakashan Limited, India CIN No.: L22219UP1975PLC004147 |
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Entities in
which Directors have significant influence: |
·
Next Mediaworks Limited (upto November 11, 2011) ·
Radio One Limited ·
Inquilab Offset Printers Limited ·
Ferrari Investments and Trading Company Private
Limited ·
Meridian Holding and Leasing Company Private
Limited |
CAPITAL STRUCTURE
As on 11.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
10000000 |
Preferences Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
Total
|
|
Rs.200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9870327 |
Equity Shares |
Rs.10/- each |
Rs.98.703 Millions |
|
10000000 |
Preferences Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
Total
|
|
Rs.198.703
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 |
198.703 |
192.123 |
188.615 |
|
(b) Reserves & Surplus |
217.323 |
216.892 |
153.493 |
|
(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) |
416.026 |
409.015 |
342.108 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
48.712 |
76.491 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
40.000 |
60.000 |
0.000 |
|
(d) long-term provisions |
23.751 |
28.537 |
25.212 |
|
Total Non-current Liabilities (3) |
112.463 |
165.028 |
25.212 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
150.000 |
143.763 |
120.411 |
|
(b) Trade payables |
230.915 |
146.992 |
131.635 |
|
(c) Other current
liabilities |
159.355 |
94.987 |
55.481 |
|
(d) Short-term provisions |
3.756 |
0.986 |
2.116 |
|
Total Current Liabilities (4) |
544.026 |
386.728 |
309.643 |
|
|
|
|
|
|
TOTAL |
1072.515 |
960.771 |
676.963 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
422.718 |
362.466 |
287.762 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
1.288 |
|
(iii) Capital
work-in-progress |
0.070 |
53.796 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
117.000 |
107.000 |
20.000 |
|
(c) Deferred tax assets (net) |
10.050 |
18.878 |
10.778 |
|
(d) Long-term Loan and Advances |
33.063 |
50.172 |
46.392 |
|
(e) Other Non-current assets |
12.977 |
8.511 |
8.511 |
|
Total Non-Current Assets |
595.878 |
600.823 |
374.731 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
70.636 |
0.000 |
0.00 |
|
(b) Inventories |
98.516 |
47.298 |
72.582 |
|
(c) Trade receivables |
249.778 |
243.552 |
191.757 |
|
(d) Cash and cash
equivalents |
27.076 |
15.137 |
3.558 |
|
(e) Short-term loans and
advances |
29.341 |
10.102 |
11.719 |
|
(f) Other current assets |
1.290 |
43.859 |
22.616 |
|
Total Current Assets |
476.637 |
359.948 |
302.232 |
|
|
|
|
|
|
TOTAL |
1072.515 |
960.771 |
676.963 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1155.316 |
1135.997 |
1065.200 |
|
|
|
Other Income |
5.300 |
10.409 |
26.518 |
|
|
|
TOTAL |
1160.616 |
1146.406 |
1091.718 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
377.889 |
331.192 |
257.667 |
|
|
|
Employee benefit expense |
316.566 |
339.623 |
296.821 |
|
|
|
Other expenses |
499.336 |
430.687 |
367.576 |
|
|
|
Prior period items |
0.000 |
0.000 |
22.817 |
|
|
|
TOTAL |
1193.791 |
1101.502 |
944.881 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(33.175) |
44.904 |
146.837 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
29.521 |
13.401 |
19.307 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(62.696) |
31.503 |
127.530 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
60.630 |
52.694 |
90.330 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
EXCEPTIONAL ITEMS AND TAX |
(123.326) |
(21.191) |
37.200 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL
ITEMS |
(10.866) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(134.192) |
(21.191) |
37.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.827 |
(8.100) |
16.608 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(143.019) |
(13.091) |
20.592 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(9.592) |
3.500 |
(17.099) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(152.611) |
(9.592) |
3.493 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Advertising Revenue |
NA |
9.460 |
9.911 |
|
|
TOTAL EARNINGS |
NA |
9.460 |
9.911 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Newsprint Imports |
NA |
227.820 |
252.147 |
|
|
TOTAL IMPORTS |
NA |
227.820 |
252.147 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (Rs.) |
(21.91) |
(5.66) |
1.32 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(12.32)
|
(1.14)
|
1.89 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(11.62)
|
(1.87)
|
3.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(14.19) |
(2.71) |
5.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.32)
|
(0.05)
|
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.48
|
0.54
|
0.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88
|
0.93
|
0.98 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs. In
Millions |
|
Share Capital |
188.615 |
192.123 |
198.703 |
|
Reserves & Surplus |
153.493 |
216.892 |
217.323 |
|
Net
worth |
342.108 |
409.015 |
416.026 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
76.491 |
48.712 |
|
Short term borrowings |
120.411 |
143.763 |
150.000 |
|
Total
borrowings |
120.411 |
220.254 |
198.712 |
|
Debt/Equity
ratio |
0.352 |
0.538 |
0.478 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs. In
Millions |
Rs.
In Millions |
|
Sales |
1,065.200 |
1,135.997 |
1,155.316 |
|
|
|
6.646 |
1.701 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
1,065.200 |
1,135.997 |
1,155.316 |
|
Profit |
20.592 |
(13.091) |
(143.019) |
|
|
1.93% |
(1.15%) |
(12.38%) |
LOCAL AGENCY FURTHER INFORMATION
NOTE: CURRENT
MATURITY OF LONG TERM DEBT 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 |
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 |
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:
|
CASE
DETAILS BENCH:-BOMBAY Presentation Date:- 22/05/2013
District:- MUMBAI Bench:- SINGLE Status:- Pre-Admission Category:-
SUITS FOR DEFAMATION Next Date:- 02/05/2014 Stage:-
FOR DIRECTION Coram:- REGISTRAR(OS)/PROTHONOTARY AND
SR. MASTER Last Date:- 20/02/2014 Stage:-
FOR DIRECTION Last Coram:- REGISTRAR(OS)/PROTHONOTARY
AND SR. MASTER Act :- Code
of Civil Procedure 1908 |
||||||||||||||||
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and advances from related parties |
48.712 |
76.491 |
|
Short Term
Borrowings |
|
|
|
Loans and advances from related parties |
150.000 |
0.000 |
|
Total |
198.712 |
76.491 |
FINANCIAL REVIEW:
During
the year the Company has earned income of Rs.1160.600 Millions as compared to
Rs.1146.400 Millions in the last year. On the other side, Company has incurred
expenditure of Rs.1283.9000 Millions (previous year Rs.1167.600 Millions)
thereby giving Loss before Tax of Rs.134.200 Millions (previous year Rs.21.200
Millions). After deducting Rs.8.800 Millions towards deferred tax (previous
year Rs.8.100 Millions), Net Loss after Tax was standing at Rs.143.000 Millions
(previous year Rs.13.100 Millions). After adding thereto negative balance
brought forward from previous year Rs.9.600 Millions (previous year positive
balance of Rs.3.500 Millions). Loss of Rs.152.600 Millions (previous year loss
of Rs.9.600 Millions) was carried forward to the Balance Sheet.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10381049 |
26/09/2012 |
200,000,000.00 |
Central Bank of India |
Industrial Finance Branch, Nariman Point, Mumbai, Maharashtra - 400021, India |
B59901223 |
|
2 |
10372034 |
10/04/2012 |
200,000,000.00 |
Central Bank of India |
Industrial Finance Branch, Nariman Point, Mumbai, Maharashtra - 400021, India |
B42421750 |
*Date of modification Charges
FIXED ASSETS:
·
Leasehold Land
·
Plant and Machinery
·
Factory Premises
·
Photographic Equipments
·
Air Conditioners
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
·
Fire Fighting Systems
·
Computers
·
Capital work in progress
·
Electrical Installation
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.61.09 |
|
|
1 |
Rs.101.59 |
|
Euro |
1 |
Rs.84.65 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
50 |
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.