MIRA
INFORM REPORT
|
Report Date : |
15.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
MIDDAY INFOMEDIA LIMITED |
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Registered
Office : |
Peninsula Centre, |
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Country : |
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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 |
|
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 fine track record.
The company has incurred huge losses for past two years. However,
trade relations are reported as fair. Business is active. Payment terms are
reported to be usually correct and as per commitments. In view of strong holding 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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the share goes up further in the
coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (Tel No.: 91-22-67017171)
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 |
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Address : |
103/A, Cumballa Crest, |
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Date of Birth/Age : |
11.06.1961 |
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Date of Appointment : |
16.01.2008 |
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DIN No.: |
00101820 |
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Name : |
Mr. Sanjay Narendra Mohan Gupta |
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Designation : |
Director |
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Address : |
C-26, Friends Colony, East New Delhi - 110 065, India |
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Date of Birth/Age : |
20.12.1962 |
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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 |
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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 |
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Designation : |
Director |
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Address : |
Thakur Nivas, Flat No. 21, 173 Jamshedji Tata Road,Churchgate, Mumbai –
400 020, Maharashtra, India |
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Date of Birth/Age : |
26.01.1973 |
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Date of Appointment : |
31.03.2011 |
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DIN No.: |
01798942 |
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Name : |
Mr. Vikas Joshi |
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Designation : |
Managing Director |
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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 |
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Date of Appointment : |
21.05.2013 |
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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 |
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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 |
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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, equipment’s, 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 |
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Address : |
Building 8, 7th and 8th floor, Tower B, DLF Cyber City, Gurgaon-122002, Haryana, India |
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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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION
DETAILS:
|
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 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.98.73 |
|
|
1 |
Rs.98.73 |
|
Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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.