MIRA
INFORM REPORT
|
Report Date : |
20.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SERCO BPO PRIVATE LIMITED (w.e.f. 27.11.2008) |
|
|
|
|
Formerly Known
As : |
VOICE DATA MANAGEMENT PRIVATE LIMITED |
|
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Registered
Office : |
Serco House, Plot CST No. 1406-A/28, Mindspace, Malad (West), Mumbai –
400090, |
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|
Country : |
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Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
17.04.2001 |
|
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|
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Com. Reg. No.: |
11-232120 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.534.302 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2001PTC232120 |
|
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|
|
PAN No.: [Permanent Account No.] |
AABCV2572L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of providing IT enabled services, BPO services, call center and contract center services, back office processing, outsourcing services, data processing and analysis. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 540000 |
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|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has recorded some accumulated losses, borrowings recorded
by the company are huge and increasing, which may act as a threat to the
liquidity position of the company. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
NEWS
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.
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-Cooperative (91-22-66776000)
LOCATIONS
|
Registered Office : |
Serco House, Plot CST NO 1406-A/28, Mindspace, Malad (West), Mumbai –
400090, Maharashtra, India |
|
Tel. No.: |
91-22-66776270 / 66776000 |
|
Fax No.: |
91-22-66778210 |
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E-Mail : |
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Website : |
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Corporate Office : |
Plot No. 94-95, Sector 18, Udyog Vihar, Gurgaon – 122015, Haryana, India |
DIRECTORS
AS ON: 30.09.2013
|
Name : |
Mr. Susirkumar Mangalore |
|
Designation : |
Whole-Time Director |
|
Address : |
603, 6th Floor, Jade 7 Bunglows, Near Versova Link Road,
Andheri (West) , Mumbai – 400058, Maharashtra, India |
|
Date of Birth/Age : |
30.01.1966 |
|
Date of Appointment : |
29.09.2011 |
|
DIN No.: |
00049374 |
|
|
|
|
Name : |
Mr. Bhupender Singh |
|
Designation : |
Whole-Time Director |
|
Address : |
283, Sector – 14, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
14.12.1972 |
|
Date of Appointment : |
07.03.2013 |
|
DIN No.: |
00240912 |
KEY EXECUTIVES
|
Name : |
Mr. Abhay Kamalakar Telang |
|
Designation : |
Secretary |
|
Address : |
16, Gurukrupa, New Liberty Co-operative Housing Limited, Garden Cross
No. 4, Malad (West), Mumbai – 400064, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1964 |
|
Date of Appointment : |
04.04.2013 |
|
PAN No.: |
AARPT1748B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Serco BPO Holding Private Limited, India |
|
33931496 |
|
Serco International S.A.R.L, Luxembourg |
|
19786864 |
|
SKM Technology Ventures Private Limited, India (As Trust of SKM
Trust) |
|
59620 |
|
|
|
|
|
Total |
|
53777980 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
36.79 |
|
Bodies corporate |
|
63.21 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of providing IT enabled
services, BPO services, call center and contract center services, back office
processing, outsourcing services, data processing and analysis. |
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Products/ Services : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda -
390015, Gujarat, India |
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Facilities : |
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Banking Relations
: |
-- |
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Financial Instituion : |
Srei Infrastructure Finance Limited Vishwakarma, 86C,Topsia Road
(South), Kolkata - 700046, West Bengal, India |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India
|
|
PAN No.: |
AABFD2095B |
|
|
|
|
Subsidiary
Company : |
·
Serco (UK) Services Limited ·
Sparsh BPO Services Limited U72900MH2005PLC157255 ·
Serco Global Philippines Inc ·
Serco Lat Am Services, Sociedad Anonima ·
Snow Holding Co Limited ·
Serco Global Services, LLC ·
Serco European Services Sp. z.o.o. ·
Serco BPO Services FZ LLC ·
Serco Global Services Inc ·
Serco Global Services UK Limited |
|
|
|
|
Fellow
Subsidiary Company : |
·
Serco India Private Limited U72200HR2006PTC037011 ·
Serco Limited, UK ·
Serco Limited (UAE) ·
Serco Integrated transport Private Limited U63010HR2009FTC039407 ·
Serco International S.a r.l |
|
|
|
|
Wholly Owned
Subsidiary : |
·
Snow Holding Co Limited ·
Serco Global Services Inc (Formerly Known as
Intelenet Inc) ·
Serco Global Philippines Inc (Formerly Known as
Intelenet Global Philippines Inc) ·
Serco Lat Am Services,Sociedad Anonima (Formerly
Known as Intelenet LAT AM Services, Sociedad Anonima) ·
Serco Global Services UK Ltd (Formerly Known as
Intelenet (UK) Ltd ) ·
Serco BPO Services FZ-LLC (Formerly Known as
Intelenet BPO Services FZ-LLC) |
|
|
|
|
Subsidiary of
Snow Holding Company Limited : |
Windfall Investment Company Inc. |
|
|
|
|
Wholly Owned Subsidiary
of Subsidiary Company Windfall
Investment Company Inc : |
·
Serco Global Services LLC (Formerly Known as
Intelenet America, LLC) ·
I-Service Inc |
|
|
|
|
Wholly Owned
Subsidiary of Serco Global Services LLC : |
Intelenet (Mauritius) Limited |
|
|
|
|
Wholly Owned
Subsidiary of Serco Global Services UK Limited : |
·
Serco European Services Sp.Zo.o (Formerly Known
as Intelenet European Services Sp. Zo.o) ·
Serco (UK) Services Limited (Formerly Known as
Intelenet (UK) Services Limited) |
|
|
·
|
|
Holding Company
: |
Serco BPO
Holdings Private Limited (Formerly Amtech Software Private Limited) |
|
|
|
|
Ultimate Holding
Company : |
·
Serco Group plc., U.K. |
|
|
·
|
|
Holding Company
of Serco BPO Holdings Private Limited : |
Serco Netherland, B.V (Formerly Serco Facility Management B.V) |
CAPITAL STRUCTURE
AS ON: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
159200000 |
Equity Shares |
Rs.10/- each |
Rs.1592.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
53777980 |
Equity Shares |
Rs.10/- each |
Rs.537.780 Millions |
|
|
|
|
|
AS ON: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55000000 |
Equity Shares |
Rs.10/- each |
Rs.550.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
53430195 |
Equity Shares |
Rs.10/- each |
Rs.534.302 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 |
534.302 |
534.302 |
69.872 |
|
(b) Reserves & Surplus |
(404.460) |
2464.760 |
(1075.256) |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
3.478 |
0.000 |
147.880 |
|
Total
Shareholders’ Funds (1) + (2) |
133.320 |
2999.062 |
(857.504) |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
20102.945 |
20079.145 |
951.568 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
347.133 |
0.000 |
0.000 |
|
(d) long-term provisions |
1280.717 |
6.986 |
8.713 |
|
Total
Non-current Liabilities (3) |
21730.795 |
20086.131 |
960.281 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1532.615 |
1204.182 |
1372.253 |
|
(b) Trade payables |
1284.357 |
402.994 |
299.799 |
|
(c) Other current liabilities |
299.712 |
152.059 |
117.660 |
|
(d) Short-term provisions |
854.664 |
0.355 |
13.767 |
|
Total
Current Liabilities (4) |
3971.348 |
1759.590 |
1803.479 |
|
|
|
|
|
|
TOTAL |
25835.463 |
24844.783 |
1906.256 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1575.308 |
443.933 |
486.580 |
|
(ii) Intangible Assets |
10785.743 |
566.552 |
614.842 |
|
(iii) Capital work-in-progress |
152.922 |
8.506 |
1.571 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4211.534 |
21132.203 |
0.000 |
|
(c) Deferred tax assets (net) |
218.381 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4261.690 |
374.176 |
249.058 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
21205.578 |
22525.370 |
1352.051 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
2203.969 |
376.537 |
263.905 |
|
(d) Cash and cash equivalents |
721.247 |
71.681 |
9.556 |
|
(e) Short-term loans and
advances |
401.220 |
1704.749 |
100.265 |
|
(f) Other current assets |
1303.449 |
166.446 |
180.479 |
|
Total
Current Assets |
4629.885 |
2319.413 |
554.205 |
|
|
|
|
|
|
TOTAL |
25835.463 |
24844.783 |
1906.256 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
13535.920 |
1611.000 |
1569.880 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
13535.920 |
1611.000 |
1569.880 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
14501.350 |
2250.850 |
2387.460 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(965.430) |
(639.850) |
(817.580) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
38.120 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(1003.550) |
(639.850) |
(817.580) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
9306.120 |
303.900 |
138.700 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(18.78) |
(11.98) |
(117.01) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(7.41) |
(39.72) |
(52.08) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.54) |
(17.27) |
(42.92) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(7.24) |
(0.21) |
0.95 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
162.28 |
7.09 |
(2.71) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.32 |
0.31 |
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 |
69.872 |
534.302 |
534.302 |
|
Reserves & Surplus |
(1,075.256) |
2,464.760 |
(404.460) |
|
Share Application money
pending allotment |
147.88 |
0.000 |
3.478 |
|
Net
worth |
(857.504) |
2,999.062 |
133.320 |
|
|
|
|
|
|
long-term borrowings |
951.568 |
20,079.145 |
20,102.945 |
|
Short term borrowings |
1,372.253 |
1,204.182 |
1,532.615 |
|
Total
borrowings |
2,323.821 |
21,283.327 |
21,635.560 |
|
Debt/Equity
ratio |
(2.710) |
7.097 |
162.283 |
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) |
|
Total Income |
1569.880 |
1611.000 |
13535.920 |
|
|
|
2.619 |
740.218 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
1569.880 |
1611.000 |
13535.920 |
|
Profit/(Loss) After Tax |
(817.580) |
(639.850) |
(1003.550) |
|
|
(52.08%) |
(39.72%) |
(7.41%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
|
Particular |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Fully Convertible Debentures (FCDs) |
20030.563 |
20030.563 |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital
loans |
|
|
|
Bank of America Loan |
503.500 |
553.500 |
|
DBS Bank Ltd Loan (These loans have been guaranteed by Serco Group Plc.,U.K., the
ultimate holding company) |
0.000 |
640.000 |
|
Overdrawn bank balance: HSBC INR current account |
0.000 |
10.682 |
|
Total |
20534.063 |
21234.745 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10210811 |
31/03/2010 |
240,000,000.00 |
DBS BANK LIMITED |
3RD FLOOR, D. N. ROAD, FORT HOUSE, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A81955429 |
|
2 |
10182542 |
07/10/2009 |
269,500,000.00 |
CITIBANK N. A. |
CITIBANK CENTRE , PLOT NO.C61 ,G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI, MAHARASHTRA - 400051, INDIA |
A72028640 |
|
3 |
10163880 |
11/06/2009 |
350,000,000.00 |
DBS BANK LIMITED |
FORT HOUSE 3RD FLOOR , DR D N ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A64339997 |
|
4 |
10156874 |
27/04/2009 |
300,000,000.00 |
CITIBANK N. A. |
WOCKHARDT TOWERS, WEST WING, GROUND FLOOR, BANDR |
A62020664 |
|
5 |
10147938 |
17/03/2009 |
1,070,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
52/60 MAHATMA GANDHI ROAD,, FORT, MUMBAI - 400001, MUMBAI, MAHARASHTRA - 400001, INDIA |
A58352469 |
|
6 |
10139398 |
26/12/2008 |
210,000,000.00 |
CITIBANK N. A. |
JEEVAN VIHAR, 3 SANSAD MARG, DELHI, DELHI - 110001, INDIA |
A55469001 |
|
7 |
10059442 |
26/06/2007 |
408,850,000.00 |
HSBC BANK (MAURITIUS) LIMITED |
5TH FLOOR, LES CASCADES BUILDING, EDITH CAVELL STREET, PORT LOUIS, - NA, MAURITIUS |
A18570309 |
|
8 |
80057519 |
04/05/2005 |
572,550,000.00 |
THE HONG KONG AND SHANGHAI BANK CORPORATION LIMITED |
OFFSHORE BANKING UNIT,MAURITIUS SITUATED AT 5TH FR, LES CASCADES BUILD., EDITH CAVELI STREET, PORT LOUIS, - NA, MAURITIUS |
- |
|
9 |
90050714 |
30/06/2004 |
231,533.00 |
PUNJAB NATIONAL BANK |
SEC.37, FARIDABAD, HARYANA, INDIA |
- |
|
10 |
90353239 |
07/05/2004 |
12,500,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION |
MAURITIUS, MAURITIUS, , MAURITIUS |
- |
MERGER OF SKR BPO SERVICES PRIVATE
LIMITED AND INTELENET GLOBAL SERVICES LIMITED WITH THE COMPANY
SKR
BPO Services Private Limited (SKR) and Intelenet Global Services Private Limited
(Intelenet) had entered into a Scheme of Arrangement with the Company. Pursuant
to the Scheme, Intelenet Global Services Private Limited and it’s holding
Company SKR BPO Services Private Limited had been merged with the Company. The
Scheme under Indian Companies Act 1956, had been approved by the Hon’ble High
Court at Bombay on 5th March, 2013 and the effective date for the Merger was
4th April, 2013. The Merger was with retrospective effect from 7th July 2011.
HOLDING COMPANY
The
Company is a subsidiary of Serco BPO Holdings Private Limited under section
4(1)(b)(ii) of the Companies Act, 1956 and the ultimate holding company is
Serco Group Plc .
SUBSIDIARY COMPANIES
Serco
Global Services (UK) Limited and its Subsidiaries. Serco Global Services (UK)
Limited incorporated in the United Kingdom, which is a wholly owned subsidiary
of Serco BPO Private Limited seeks it clientele from the United Kingdom.
Serco
European Services Sp z.o. Poland, is a wholly owned subsidiary of Serco Global
Services (UK) Limited incorporated on 13th October, 2009 to provide Business
Process Outsourcing Services in the European markets.
Serco
(UK) Services Limited is a direct subsidiary of Serco Global Services (UK)
Limited.
SERCO GLOBAL SERVICES INC.
Serco
Global Services Inc is the wholly owned subsidiary company of Serco BPO Private
Limited , incorporated in the United States, and provides necessary assistance
for the outsourcing agreements already existing between itself, the clients and
Serco BPO Private Limited. Snow Holding Company Limited (Mauritius) and its
Subsidiaries.
Snow
Holding Company Limited (Snow) incorporated in Mauritius on November 28, 2007,
is a wholly owned subsidiary of Serco BPO Private Limited .
WINDFALL INVESTMENT COMPANY INC.
Windfall
Investment Company Inc. is a wholly owned subsidiary of Snow Holding Company
Limited and Windfall Investment Company Inc. owns Serco Global Services, LLC
(formerly known as Intelenet America LLC), a Pennsylvania incorporated company
and I-Service Inc, a Delaware company which was incorporated on 3rd June, 2008
with the purpose of doing US Collection Business. I-Service Inc does not have
operations till the date of this report. Intelenet (Mauritius) Limited a
Mauritius incorporated company, is a wholly owned subsidiary of Serco Global
Services, LLC..
SERCO GLOBAL PHILIPPINES INC. (formerly
known as Intelenet Global Philippines Inc.)
Serco
Global Philippines Inc incorporated in the Philippines on September 13, 2007,
is a wholly owned subsidiary of Serco BPO Private Limited and carries on the
business of a Call Centre, transaction and data processing, web enabled
customer care, data digitization, IT enabled services, etc. During the year the
name of Intelenet Global Philippines Inc. was changed to Serco Global Philippines
Inc.
SERCO LAT AM SERVICES SOCIEDAD ANONIMA.
Serco
LAT AM Services, Sociedad Anonima is incorporated in Guatemala on 28th May 2010
and is wholly owned subsidiary Serco BPO Private Limited and carries on the
business of business process outsourcing services to its clients including call
center, transaction and data processing, web enabled customer care, data
digitization, IT enabled services, etc.
SERCO BPO SERVICES FZ-LLC ( formerly
known as Intelenet BPO Services FZ-LLC)
Serco
BPO Services FZ-LLC is incorporated in Dubai on 13th February 2011 and is a
wholly owned subsidiary of Serco BPO Private Limited for the purpose of
providing business process outsourcing services to its clients including call
center, transaction and data processing, web enabled customer care, data
digitization, IT enabled services, etc. During the year the name of Intelenet
BPO Services FZ-LLC was changed to Serco BPO Services FZ-LLC.
SPARSH BPO SERVICES LIMITED:
Sparsh
BPO Services Limited is a Subsidiary of Company and carries on the business of
a Call Centre, transaction and data processing, web enabled customer care, data
digitization, IT enabled services, etc in the domestic space. The Company holds
98.17% of equity shares in Sparsh BPO Services Limited.
The
details of the Subsidiaries required under provisions of Section 212 of the
Companies Act, 1956 is annexed to this report.
FIXED ASSETS
Tangible Assets
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Leasehold Improvements
· Plant and Machinery
Intangible Assets
· Goodwill
· Computer Software
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.60.81 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--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 |
|
28 |
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.