MIRA
INFORM REPORT
|
Report Date : |
10.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
FUTURE CORPORATE RESOURCES LIMITED (24.08.2011) |
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Formerly Known
As : |
FUTURE CORPORATE RESOURCES PRIVATE LIMITED (26.07.2011) SIMPLETON INVESTRADE PRIVATE LIMITED |
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Registered
Office : |
Knowledge House,
Shyam Nagar, Jogeshwari-Vikhroli, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
19.10.2005 |
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Com. Reg. No.: |
156856 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
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CIN No.: [Company Identification
No.] |
U51100MH2005PLC156856 |
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|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMS51659G MUMP17626A |
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PAN No.: [Permanent Account No.] |
AAJCS3979E AAACP5083H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Media Business and Treasury Business. |
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No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is a holding company and the Media Services Arm of the Future
Group. It is a well-established and reputed company having moderate record. Management of the company has failed to file its financials for the
year 2013 with the government department. 23 AC documents for the year 2012 could not be made available from any
source. The company has incurred a loss from its operations during 2013
(Provisional Financials). However, trade relations are reported to be fair. Business is active. Payments
are reported to slow but correct. The company can be considered for business dealings with some
cautions. NOTE: The partial information are taken from indirect source i.e.,
ICRA |
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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term, Term Loans=BB+ |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
August 2013 |
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
31-03-2014.
INFORMATION DENIED
Management Non Co-operative (91-22-30841300 / 30842336)
LOCATIONS
|
Registered Office : |
Knowledge House,
Shyam Nagar, Jogeshwari-Vikhroli, |
|
Tel. No.: |
91-22-30841300 / 30842336 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Kishore Laxminarayan Biyani |
|
Designation : |
Director |
|
Address : |
406, Jeevan Vihar, Manav Mandir Road, Mumbai-400006, Maharashtra,
India |
|
Date of Appointment : |
19.11.2005 |
|
DIN No.: |
00005740 |
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|
|
|
Name : |
Ms. Sangita Kishor Biyani |
|
Designation : |
Director |
|
Address : |
406, Jeevan Vihar, Manav Mandir Road, Mumbai-400006, Maharashtra,
India |
|
Date of Appointment : |
19.11.2005 |
|
DIN No.: |
00074580 |
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|
|
Name : |
Mr. Vijay Laxminarayan Biyani |
|
Designation : |
Director |
|
Address : |
305, Jeevan Vihar, Manav Mandir Road, Mumbai-400006, Maharashtra,
India |
|
Date of Appointment : |
08.04.2010 |
|
DIN No.: |
00005827 |
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|
|
|
Name : |
Mr. Vivek Biyani |
|
Designation : |
Whole-Time Director |
|
Address : |
304, Jeevan Vihar, Manav Mandir Road, Mumbai-400006, Maharashtra,
India |
|
Date of Appointment : |
21.07.2011 |
|
DIN No.: |
01977838 |
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|
|
|
Name : |
Ms. Ashni Biyani Kishore |
|
Designation : |
Whole-Time Director |
|
Address : |
304, Jeevan Vihar, Manav Mandir Road, Mumbai-400006, Maharashtra,
India |
|
Date of Appointment : |
21.07.2011 |
|
DIN No.: |
00058775 |
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|
|
|
Name : |
Mr. Rajesh Ramjilal Kalyani |
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Designation : |
Director |
|
Address : |
Flat No. 1506, Oberoi Park View, Tower-A, Thakur Village, Western
Express Highway, Kandivali (West), Mumbai-400101, Maharashtra, India |
|
Date of Appointment : |
08.08.2011 |
|
DIN No.: |
00220632 |
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|
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|
Name : |
Mr. Dinesh Ramnarayan Maheshwari |
|
Designation : |
Director |
|
Address : |
C-6-302, Sector 8, Shanti Nagar, Mira Road, Thane-401107, Maharashtra,
India |
|
Date of Appointment : |
08.08.2011 |
|
DIN No.: |
00088451 |
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|
|
|
Name : |
Mr. Chandra Prakash Toshniwal |
|
Designation : |
Director |
|
Address : |
A-603, Great Eastern Link, Ram Mandir Road, Goregaon (West),
Mumbai-400104, Maharashtra, India |
|
Date of Appointment : |
08.08.2011 |
|
DIN No.: |
00036303 |
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|
|
|
Name : |
Mr. Anil Laxminarayan Biyani |
|
Designation : |
Additional Director |
|
Address : |
406, Jeevan Vihar, Manav Mandir Road, Mumbai-400006, Maharashtra,
India |
|
Date of Appointment : |
01.10.2011 |
|
DIN No.: |
00005834 |
MAJOR SHAREHOLDERS
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Samreen Multitrading Private Limited |
8016000 |
32.00 |
|
Tanushri Infrastructure Private Limited |
4258500 |
17.00 |
|
Kavi Sales Agency Private Limited |
3757500 |
15.00 |
|
Oviya Multitrading Private Limited |
3757500 |
15.00 |
|
Radha Multitrading Private Limited |
3757500 |
15.00 |
|
Raja Infrastructure Private Limited |
1002000 |
4.00 |
|
Salarjung Multitrading Private Limited |
501000 |
2.00 |
|
Total |
25050000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Media Business and Treasury Business. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
·
ING Vysya Bank Limited, 22, M.G. Road, Bangalore
– 560 001, Karnataka, India ·
Dena Bank, Dena Corporate Centre, G Block, Bandra-Kurla
Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
·
Sicom Limited, Nirmal Building, 1st
Floor, Nariman Point, Mumbai – 400 021, Maharashtra, India ·
IL and FS Trust Company Limited, IL and FS Financial
Centre, Plot No.C22, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai –
400 051, Maharashtra, India |
|
Auditors : |
|
|
Name : |
Shambhu Gupta and Company Chartered Accountants |
|
Address : |
512-513, Manish Chamber, Opposite Hotel Karan Palace, Sonawala Road,
Goregaon (East), Mumbai-400063, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFS4499Q |
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Subsidiaries : |
·
Asian Retail Lighting Limited [U52599MH2007PLC166906] ·
Future Human Development Limited
[U74900MH2007PLC167121] ·
nuFuture Digital (India) Limited
[U72900MH2007PLC174787] ·
Future Outdoor Media Solutions Limited
[U22300MH2008PLC181041] ·
Future Capital Investment Private Limited
[U99999MH2006PTC159513] ·
Future Ideas Realtors India Limited
[U70102MH2007PLC175707] |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25130000 |
Equity Shares |
Rs.10/- each |
Rs.251.300 Millions |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25050000 |
Equity Shares |
Rs.10/- each |
Rs.250.500 Millions |
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|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
30.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
25222.092 |
0.000 |
44.476 |
|
|
4] (Accumulated Losses) |
0.000 |
(3.822) |
0.000 |
|
|
NETWORTH |
25222.192 |
(3.722) |
74.476 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7933.621 |
0.000 |
3701.370 |
|
|
2] Unsecured Loans |
8794.796 |
6891.279 |
90.000 |
|
|
TOTAL BORROWING |
16728.417 |
6891.279 |
3791.370 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.001 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
41950.609 |
6887.558 |
3865.846 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
112.543 |
0.000 |
123.689 |
|
|
Capital work-in-progress |
198.250 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
39053.642 |
246.547 |
954.660 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2128.271
|
0.000 |
199.311 |
|
|
Sundry Debtors |
1179.416
|
0.000 |
808.036 |
|
|
Cash & Bank Balances |
41.231
|
0.301 |
10.351 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
3370.091
|
6640.729 |
1923.270 |
|
Total
Current Assets |
6719.009
|
6641.030 |
2940.968 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
165.381
|
0.019 |
44.911 |
|
|
Other Current Liabilities |
3950.353
|
0.000 |
108.598 |
|
|
Provisions |
17.101
|
0.000 |
0.008 |
|
Total
Current Liabilities |
4132.835
|
0.019 |
153.517 |
|
|
Net Current Assets |
2586.174
|
6641.011 |
2787.451 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.046 |
|
|
|
|
|
|
|
|
TOTAL |
41950.609 |
6887.558 |
3865.846 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
833.248 |
152.097 |
1342.608 |
|
|
|
Other Income |
176.909 |
4.022 |
47.807 |
|
|
|
TOTAL (A) |
1010.157 |
156.119 |
1390.415 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
344.547 |
|
|
|
|
|
Employee Related Expenses |
113.692 |
0.000 |
1104.702 |
|
|
|
Administrative Selling Other Expense |
40.809 |
0.025 |
|
|
|
|
Prior Period Items |
0.027 |
0.000 |
|
|
|
|
TOTAL (B) |
499.075 |
151.960 |
1104.702 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
511.082 |
4.159 |
285.713 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
478.185 |
5.060 |
308.381 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
32.897 |
(0.901) |
(22.668) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
5.736 |
0.000 |
15.092 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
27.161 |
(0.901) |
(37.760) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.005 |
0.001 |
(17.460) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
22.156 |
(0.902) |
(20.300) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(3.822) |
(2.920) |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
11.125 |
0.000 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
7.209 |
(3.822) |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1103.07 |
(90.16) |
(21.88) |
|
PROVISIONAL
FINANCIALS
|
Particulars |
|
31.03.2013 |
31.03.2012 |
|
Operating Income |
|
4639.000 |
3110.000 |
|
|
|
|
|
|
Profit/Loss for the year |
|
553.000 |
665.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.19
|
(0.58) |
(1.45) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.26
|
(0.59) |
(2.81) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.40
|
(0.01) |
(1.23) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.24 |
(0.51) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.83
|
(1851.50) |
52.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.63
|
349527.89 |
19.15 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
30.000 |
0.100 |
0.100 |
|
Reserves & Surplus |
44.476 |
0.000 |
25222.092 |
|
Net
worth |
74.476 |
0.100 |
25222.192 |
|
|
|
|
|
|
Secured Loans |
3701.370 |
0.000 |
7933.621 |
|
Unsecured Loans |
90.000 |
6891.279 |
8794.796 |
|
Total
borrowings |
3791.370 |
6891.279 |
16728.417 |
|
Debt/Equity
ratio |
50.907 |
68,912.790 |
0.663 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
1342.608 |
152.097 |
833.248 |
|
|
|
(88.672) |
447.840 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
Rs.
In Millions |
Rs. In
Millions |
Rs.
In Millions |
|
Sales
|
1342.608 |
152.097 |
833.248 |
|
Profit |
(20.300) |
(0.902) |
22.156 |
|
|
(1.51%) |
(0.59%) |
2.66% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS ARE 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
five years |
Yes |
|
12] |
Profitability for last five
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 |
UNSECURED LOANS:
|
Unsecured Loans |
31.03.2011 [Rs. In Millions] |
31.03.2010 [Rs. In Millions] |
|
Working capital
loans |
2330.000 |
0.000 |
|
Others debts |
6464.796 |
6891.279 |
|
|
|
|
|
Total |
8794.796 |
6891.279 |
FINANCIAL
HIGHLIGHTS:
The Company
reported a growth in income with total income of Rs. 1010.157 Millions. The Media
business was major driver in driving the sales of the Company and contributed
Rs. 713.016 Millions to total income of the Company. The Company generated Rs.
83.788 Millions income from Consultancy business of the Company. The T24
business model of mobile service of the Company contributed Rs. 33.038 Millions
and management is optimistic on growth and revenue in near future from T24
business model.
During the Year,
the Profit after Tax of the Company was Rs. 22.156 Millions and transferred Rs.
11.125 Millions to Debenture Redemption Reserve Account.
SCHEME OF AMALGAMATION:
During the Year, a
Scheme of Amalgamation of Future Corporate Resources Limited with Simpleton
Investrade Private Limited and their respective Shareholders U/s 391 to 394 of
the Companies Act, (the Scheme) for amalgamation of Future Corporate 1956
Resources Limited, the wholly owned subsidiary with the Company was approved by
the Honable High Court of Judicature at Bombay on 29th April, 2011.
Accordingly, the said Scheme became effective from 01st December, 2010 (the
Appointed Date) on 19th July, 2011 (being the Effective Date). The results of
the Company the year ended 31st March, 2011 include the results of Future
Corporate Resources Limited after giving effect to Scheme of Amalgamation.
CHANGE OF NAME OF THE COMPANY:
In order to
reflect the new line of business activities and the business amalgamated
through Scheme of Amalgamation, the name of the Company was changed to Future Corporate
Resources Private Limited effective 26th July, 2011. Going forward, management
is in process to convert the Company into Public Limited Company.
LITIGATION
DETAILS:
|
HIGH
COURT OF BOMBAY
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10514897 |
28/07/2014 |
350,000,000.00 |
ECL
FINANCE LIMITED |
EDELWEISS
HOUSE, OFF. C.S.T ROAD, KALINA,, MUMBAI, MAHARASHTRA - 400098, INDIA |
C16414146 |
|
2 |
10508940 |
20/06/2014 |
250,000,000.00 |
AXIS
FINANCE LIMITED |
AXIS
HOUSE, GROUND FLOOR,, WADIA INTERNATIONAL CENTRE,WORLI, MUMBAI, MAHARASHTRA -
400025, INDIA |
C11233343 |
|
3 |
10442110 |
10/07/2013 |
200,000,000.00 |
SICOM
LIMITED |
SOLITAIRE
CORPORATE PARK, BUILDING NO. 4, GURU, HARGOVINDJI ROAD, ANDHERI (EAST),
MUMBAI, MAHARASHT |
B81715955 |
|
4 |
10428969 |
02/05/2013 |
1,500,000,000.00 |
CENTRAL
BANK OF INDIA |
CORPORATE
FINANCE BRANCH, MMO BUILDING,, 1ST FLOOR, FORT, MUMBAI, MAHARASHTRA - 400023,
INDIA |
B76226521 |
|
5 |
10374896 |
14/08/2012 |
350,000,000.00 |
SICOM
LIMITED |
SOLITAIRE
CORPORATE PARK, BUILDING NO. 4, GURU, HARGOVINDJI ROAD, ANDHERI (EAST),
MUMBAI, MAHARASHTRA - 400093, INDIA |
B57438236 |
|
6 |
10348221 |
29/03/2012 |
2,000,000,000.00 |
DENA
BANK |
DENA CORPORATE
CENTRE, G BLOCK,, BANDRA KURLA COMPLEX, BANDRA (EAST),, MUMBAI, MAHARASHTRA -
400051, INDIA |
B37151982 |
|
7 |
10326025 |
14/05/2013
* |
250,000,000.00 |
ING
VYSYA BANK LIMITED |
MITTAL
TOWERS,A-WING,, GROUND FLOOR,210 NARIMAN POINT,, MUMBAI, MAHARASHTRA -
400021, INDIA |
B76882828 |
*Date of modification Charges
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.61.04 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
27 |
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.